Name: Hilton Worldwide Holdings Inc. (NYSE:HLT) | Cash Flow Statement (Quarterly)
Creator: Stock Analysis on Net

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Download chart

Hilton Worldwide Holdings Inc., consolidated cash flow statement (quarterly data)

US$ in millions

3 months ended:	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (loss)	422)	268)	150)	379)	413)	209)	333)	346)	367)	211)	148)	240)	128)	(109)	(225)	(81)	(432)	18)	176)	290)	261)	159)
Amortization of contract acquisition costs	13)	12)	11)	11)	11)	10)	10)	10)	10)	8)	9)	9)	7)	7)	7)	7)	7)	8)	8)	7)	7)	7)
Depreciation and amortization expenses	34)	36)	33)	40)	37)	37)	39)	39)	40)	44)	45)	46)	46)	51)	62)	90)	88)	91)	90)	86)	86)	84)
Impairment losses	—)	—)	38)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	122)	9)	15)	112)	—)	—)	—)	—)
(Gain) loss on sales of assets, net	—)	(7)	—)	—)	—)	—)	—)	—)	—)	—)	7)	—)	—)	—)	—)	—)	—)	—)	—)	(81)	—)	—)
(Gain) loss on foreign currency transactions	1)	1)	3)	7)	6)	—)	(1)	—)	(8)	4)	8)	—)	1)	(2)	11)	12)	13)	(9)	6)	(7)	3)	—)
Loss on investments in unconsolidated affiliate	—)	—)	—)	—)	—)	92)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Share-based compensation expense (benefit)	55)	41)	36)	48)	52)	33)	36)	42)	47)	37)	49)	52)	53)	39)	60)	25)	24)	(12)	31)	42)	47)	34)
Deferred income taxes	(6)	(30)	(226)	(8)	(10)	(20)	(20)	57)	—)	(3)	(10)	41)	4)	(39)	(93)	(24)	(81)	(37)	(42)	21)	27)	(26)
Contract acquisition costs, net of refunds	(40)	(37)	(69)	(25)	(34)	(105)	(20)	(20)	(26)	(15)	(40)	(45)	(72)	(43)	(13)	(14)	(12)	(11)	(41)	(6)	(28)	(15)
Working capital changes and other	(58)	62)	489)	235)	(11)	74)	105)	197)	(97)	(91)	(85)	(65)	(296)	(75)	(69)	(124)	1,195)	(31)	(26)	180)	(117)	121)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	(1)	78)	315)	308)	51)	121)	149)	325)	(34)	(16)	(17)	38)	(257)	(62)	87)	(19)	1,249)	111)	26)	242)	25)	205)
Net cash provided by (used in) operating activities	421)	346)	465)	687)	464)	330)	482)	671)	333)	195)	131)	278)	(129)	(171)	(138)	(100)	817)	129)	202)	532)	286)	364)
Capital expenditures for property and equipment	(15)	(16)	(42)	(35)	(30)	(44)	(20)	(8)	(7)	(4)	(18)	(8)	(6)	(3)	(8)	(8)	(18)	(12)	(15)	(20)	(23)	(23)
Cash paid for acquisitions, net of cash acquired	(236)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Issuance of financing receivables	(15)	—)	(14)	—)	—)	(8)	—)	—)	(46)	—)	—)	(3)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Proceeds from asset dispositions	—)	8)	5)	—)	—)	—)	—)	—)	—)	—)	6)	—)	—)	—)	—)	—)	—)	—)	—)	120)	—)	—)
Settlements of undesignated derivative financial instruments	(1)	—)	2)	(2)	(14)	(12)	14)	23)	30)	12)	8)	(13)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Capitalized software costs	(23)	(18)	(28)	(26)	(23)	(19)	(20)	(18)	(15)	(10)	(16)	(12)	(8)	(8)	(8)	(5)	(16)	(17)	(45)	(35)	(25)	(19)
Investments in unconsolidated affiliates	(1)	(1)	—)	(11)	(2)	(2)	—)	(2)	(31)	(20)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other	—)	—)	—)	—)	—)	—)	1)	1)	1)	(4)	(3)	16)	16)	(5)	(2)	—)	5)	(18)	(16)	(17)	(3)	(2)
Net cash used in investing activities	(291)	(27)	(77)	(74)	(69)	(85)	(25)	(4)	(68)	(26)	(23)	(20)	2)	(16)	(18)	(13)	(29)	(47)	(76)	48)	(51)	(44)
Borrowings	83)	1,200)	606)	3)	—)	—)	—)	5)	—)	18)	5)	5)	—)	1,500)	1,900)	—)	1,000)	1,690)	405)	—)	1,420)	375)
Repayment of debt	(92)	(209)	(143)	(19)	(9)	(12)	(13)	(10)	(12)	(13)	(9)	(3)	(1,202)	(2,016)	(1,907)	(1)	(8)	(205)	(220)	(10)	(981)	(336)
Debt issuance costs	(3)	(13)	(11)	—)	—)	(9)	—)	—)	—)	—)	—)	—)	(2)	(74)	(57)	—)	(14)	—)	—)	(2)	(27)	—)
Dividends paid	(37)	(39)	(38)	(39)	(40)	(41)	(41)	(41)	(41)	—)	—)	—)	—)	—)	—)	—)	—)	(42)	(42)	(43)	(43)	(44)
Repurchases of common stock	(736)	(666)	(743)	(675)	(470)	(450)	(498)	(506)	(465)	(121)	—)	—)	—)	—)	—)	—)	—)	(296)	(452)	(433)	(357)	(296)
Share-based compensation tax withholdings	(1)	(69)	(1)	(1)	(1)	(51)	(2)	—)	(1)	(55)	(1)	—)	(2)	(46)	9)	7)	4)	(47)	4)	3)	8)	(42)
Proceeds from share-based compensation	27)	20)	19)	4)	23)	5)	13)	—)	12)	4)	26)	2)	12)	12)	—)	—)	—)	—)	—)	—)	—)	—)
Settlements of interest rate swap with financing component	15)	14)	15)	14)	13)	11)	6)	1)	(5)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(1)	—)	—)	—)	—)	—)	—)
Net cash provided by (used in) financing activities	(744)	238)	(296)	(713)	(484)	(547)	(535)	(551)	(512)	(167)	21)	4)	(1,194)	(624)	(55)	5)	982)	1,100)	(305)	(485)	20)	(343)
Effect of exchange rate changes on cash, restricted cash and cash equivalents	(4)	(12)	4)	(4)	(6)	(6)	2)	(8)	(9)	(4)	(4)	(2)	1)	(5)	6)	1)	—)	(7)	—)	(4)	2)	—)
Net increase (decrease) in cash, restricted cash and cash equivalents	(618)	545)	96)	(104)	(95)	(308)	(76)	108)	(256)	(2)	125)	260)	(1,320)	(816)	(205)	(107)	1,770)	1,175)	(179)	91)	257)	(23)

The cash flow trajectory over the analyzed period reflects a significant volatility cycle characterized by a severe disruption in 2020 followed by a robust operational recovery and a transition toward aggressive shareholder capital returns.

Operating Cash Flow and Profitability: Net income experienced a sharp decline in 2020, reaching a trough in the second quarter of that year. However, a consistent recovery trend began in mid-2021, with net income reaching peaks of over 400 million USD in recent quarters. Net cash provided by operating activities showed extreme volatility during the pandemic, notably a spike in June 2020 driven by a substantial positive adjustment in working capital. Since 2022, operating cash flow has stabilized and grown, consistently exceeding 300 million USD per quarter, indicating a return to strong cash-generating capabilities.
Investment and Asset Management: Capital expenditures for property and equipment remained relatively low and stable throughout the period, typically ranging between 10 million and 40 million USD per quarter. A notable trend is the steady decline in depreciation and amortization expenses, which fell from approximately 80-90 million USD in 2019 to 30-40 million USD by 2024. Investment activities were generally minimal until June 2024, which saw a significant cash outflow of 236 million USD for acquisitions, marking a shift toward inorganic growth.
Financing and Capital Structure: The company utilized aggressive borrowing strategies during the first half of 2020 to maintain liquidity, with borrowings peaking at 1.69 billion USD in March 2020. This was followed by a period of rapid deleveraging, evidenced by debt repayments of approximately 1.9 billion USD in December 2020 and 2.0 billion USD in March 2021. In recent years, financing activities have been dominated by shareholder distributions. While dividends remained steady at approximately 40 million USD per quarter, repurchases of common stock accelerated significantly, frequently exceeding 500 million USD per quarter from 2022 through 2024.
Cash Position and Liquidity Dynamics: The net change in cash reflects the interplay between operating recovery and financing decisions. Large inflows from borrowing in 2020 were eventually offset by the combination of debt repayment and intensified share buybacks. The most recent quarters show a pattern where strong operating cash flows are being primarily deployed toward the repurchase of common stock, resulting in periodic net decreases in cash and cash equivalents despite high profitability.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Hilton Worldwide Holdings Inc. (NYSE:HLT)

Cash Flow StatementQuarterly Data

Cash Flow Statement
Quarterly Data