Name: Expedia Group Inc. (NASDAQ:EXPE) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Expedia Group Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Accounts payable, merchant	1,333)	602)	1,921)	1,699)	1,838)
Accounts payable, other	688)	496)	906)	788)	698)
Deferred merchant bookings	5,688)	3,107)	5,679)	4,327)	3,219)
Deferred revenue	166)	172)	321)	364)	326)
Income taxes payable	16)	50)	88)	74)	33)
Accrued expenses and other current liabilities	824)	979)	1,050)	808)	1,265)
Current maturities of long-term debt	735)	—)	749)	—)	500)
Current liabilities	9,450)	5,406)	10,714)	8,060)	7,879)
Long-term debt, excluding current maturities	7,715)	8,216)	4,189)	3,717)	3,749)
Deferred income taxes	58)	67)	56)	69)	329)
Long-term operating lease liabilities	360)	513)	532)	—)	—)
Other long-term liabilities	413)	449)	374)	506)	408)
Long-term liabilities	8,546)	9,245)	5,151)	4,292)	4,486)
Total liabilities	17,996)	14,651)	15,865)	12,352)	12,365)
Redeemable non-controlling interests	—)	13)	15)	30)	22)
Series A Preferred Stock $.001 par value	—)	1,022)	—)	—)	—)
Common stock $.0001 par value	—)	—)	—)	—)	—)
Class B common stock $.0001 par value	—)	—)	—)	—)	—)
Additional paid-in capital	14,229)	13,566)	12,978)	9,549)	9,163)
Treasury stock, at cost	(10,262)	(10,097)	(9,673)	(5,742)	(4,823)
Retained earnings (deficit)	(1,761)	(1,781)	879)	517)	331)
Accumulated other comprehensive loss	(149)	(178)	(217)	(220)	(149)
Total Expedia Group, Inc. stockholders’ equity	2,057)	2,532)	3,967)	4,104)	4,522)
Non-redeemable non-controlling interests	1,495)	1,494)	1,569)	1,547)	1,606)
Total stockholders’ equity	3,552)	4,026)	5,536)	5,651)	6,129)
Total liabilities and stockholders’ equity	21,548)	18,690)	21,416)	18,033)	18,516)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

The financial position of the company from 2017 to 2021 is characterized by a significant increase in total liabilities and a simultaneous erosion of stockholders' equity. Total liabilities rose from 12,365 million US dollars in 2017 to 17,996 million US dollars by 2021, reflecting an expanded debt profile and fluctuations in operational obligations.

Debt and Long-Term Obligations: A substantial shift in the capital structure is observed between 2019 and 2020, where long-term debt, excluding current maturities, increased from 4,189 million US dollars to 8,216 million US dollars. This suggests a strategic move to secure long-term liquidity during a period of volatility. While this figure moderated slightly to 7,715 million US dollars in 2021, the overall long-term debt burden remains significantly higher than pre-2020 levels.
Current Liabilities and Operational Volatility: Deferred merchant bookings serve as a primary driver of current liabilities, showing high sensitivity to market conditions. This item grew from 3,219 million US dollars in 2017 to a peak of 5,679 million US dollars in 2019, plummeted to 3,107 million US dollars in 2020, and recovered to 5,688 million US dollars in 2021. Similar patterns are evident in accounts payable, which saw a sharp contraction in 2020 before rebounding in 2021, indicating a direct correlation between business volume and short-term obligations.
Stockholders' Equity and Retained Earnings: A consistent downward trend is observed in total stockholders' equity, which declined from 6,129 million US dollars in 2017 to 3,552 million US dollars in 2021. This decline is driven by two primary factors: a massive increase in treasury stock expenditures—rising from 4,823 million US dollars to 10,262 million US dollars—and a sharp reversal in retained earnings. Retained earnings shifted from a positive 879 million US dollars in 2019 to a deficit of 1,781 million US dollars in 2020, remaining nearly flat at -1,761 million US dollars in 2021.
Capital Contributions: Additional paid-in capital grew steadily from 9,163 million US dollars in 2017 to 14,229 million US dollars in 2021, indicating continuous capital injections. However, these contributions were insufficient to offset the combined impact of share repurchases and the accumulation of retained deficits.

Overall, the balance sheet reflects a transition toward higher leverage and a reduced equity base. The data indicates a period of significant financial stress in 2020, followed by an operational recovery in 2021, although the company entered the final period with a higher debt load and lower equity than at the start of the analyzed timeframe.

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