Expedia Group (EXPE) risk factors, FY2025 10-K

Expedia Group's FY2025 10-K, filed Feb 13, 2026, lists 119 risk factors. Against the prior year's 110: 29 new, 20 dropped, 63 substantially reworded.

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Risk factors listed
1190 groups
New this year
29vs 110 last year
Dropped
20since the prior 10-K
Substantially reworded
63of those kept
Section length
30k wordsItem 1A

What the changes say

  • Expedia Group added new senior notes of $1 billion due 2035 and $750 million due 2026, while declaring a common stock dividend of $1.60 per share totaling $200 million.

What changed since the prior 10-K

New

  • New

    8-K 001-37429 4.1 9/20/2019

    Expedia issued $750 million in 4.625% Senior Notes due 2027 governed by an indenture with U.S. Bank National Association.

  • New

    8-K 001-37429 4.1 2/21/2025

    Expedia issued $1 billion in 5.4% Senior Notes due 2035 under a supplemental indenture with U.S. Bank National Trust Company.

  • New

    Payment of dividends to common stockholders (declared at $1.60 per share)

    Expedia declared and paid dividends of $1.60 per share to common stockholders totaling $200 million during 2025.

  • New

    NOTE 1 — Basis of Presentation

    Expedia experiences seasonal travel demand fluctuations, with leisure bookings highest in the first three quarters and declining in the fourth quarter.

  • New

    leasehold improvement using the straight-line method, over the shorter of the estimated useful life of the improvement or the remaining term of the lease

    Expedia maintains operating leases primarily for office space and data centers, creating right-of-use assets and lease liabilities.

  • New

    industries; and the blended use of both models compensates for the inherent risks associated with either model if used on a stand-alone basis

    Expedia evaluates indefinite-lived intangible assets like trade names and trademarks using the relief-from-royalty method and records impairment charges for any excess carrying value.

  • New

    Operating cash flows for operating lease payments $ 81 $ 80 $ 92

    Expedia reports operating lease right-of-use assets of $296 million and total operating lease liabilities of $315 million as of December 31, 2025.

  • New

    Balance as of December 31, 2025 $ 6,444 $ 412 $ 16 $ 6,872

    Expedia accumulated total goodwill impairment losses of $3.6 billion, consisting of $3.0 billion in the B2C segment and $537 million in trivago.

  • New

    Indefinite-lived Intangible Assets. Our indefinite-lived intangible assets relate principally to trade names and trademarks acquired in various acquisitions

    Expedia holds intangible assets with definite lives totaling $50 million net across customer relationships, supplier relationships, domain names, and technology.

  • New

    Total $ 1,727 $ (1,677) $ 50 $ 1,669 $ (1,615) $ 54

    Expedia expects future amortization expense for definite-lived intangible assets to be $18 million in 2026 and declining to $4 million in 2031 and thereafter.

  • New

    Senior Notes Outstanding

    Expedia issued $1 billion of 5.4% senior notes due February 2035, redeemable early with a make-whole premium.

  • New

    Convertible Notes Outstanding. In February 2021, we completed our private placement of $1 billion aggregate principal amount of unsecured 0% convertible senior notes that mature on February 15, 2026 unless earlier converted, redeemed or repurchased (the "Convertible Notes")

    Expedia has $1 billion of unsecured 0% convertible senior notes maturing February 15, 2026, fully guaranteed by domestic subsidiary guarantors.

  • New

    Interest expense related to the amortization of the original debt issuance costs for the Convertible Notes was $3 million during each of the years ended December 31, 2025, 2024 and 2023

  • New

    Balance as of December 31, 2025 5,038 144.65

  • New

    (1)Represents number of shares granted at 100% of target

  • New

    The total market value of RSU and PSU shares vested during the years ended December 31, 2025, 2024 and 2023 was $722 million, $578 million and $316 million

  • New

    Exercisable as of December 31, 2025 1,700 157.18 0.7 214

  • New

    Deferred income tax expense 78 74 62

  • New

    Other foreign jurisdictions 20 1.3 12 0.8 10 1.0

  • New

    Other (4) (0.3) 4 0.3 (3) (0.3)

  • New

    Changes in valuation allowances 35 2.2 (60) (3.9) — —

  • New

    Changes in unrecognized tax benefits (40) (2.5) 34 2.2 41 4.0

  • New

    Effective tax rate $ 290 18.2 % $ 318 20.6 % $ 330 32.4 %

  • New

    Income Taxes Paid (Net of Refunds Received)

  • New

    Balance, end of year $ 290 $ 351 $ 335

  • New

    return prior to or in connection with the spin-off. TripAdvisor is required to indemnify Expedia Group for any such taxes, including interest, penalties, legal, and professional fees

  • New

    Dividends on our Common Stock

  • New

    (in millions) Payment Date

  • New

    November 6, 2025 0.40 November 19, 2025 49 December 11, 2025

Dropped

  • Dropped

    In 2024, we had net cash used in investing activities of $1.3 billion compared to $800 million in the prior year. The change was primarily due to net purchases of investments in 2024 compared to net sales and maturities of investments in the prior year, partially offset by lower current year capital expenditures

  • Dropped

    Description of Securities

  • Dropped

    Derivative instruments are carried at fair value on our consolidated balance sheets. The fair values of the derivative financial instruments generally represent the estimated amounts we would expect to receive or pay upon termination of the contracts as of the reporting date

  • Dropped

    Cross-currency interest rate swaps 8 — 8

  • Dropped

    Foreign currency forward contracts $ 9 $ — $ 9

    2024 net cash used in investing activities of $1.3 billion.

  • Dropped

    Operating leases 22 86 75

  • Dropped

    During 2022, we recognized intangible impairment charges of $81 million related to an indefinite-lived trade name within our trivago segment

  • Dropped

    Balance as of December 31, 2024 $ 6,433 $ 411 $ — $ 6,844

  • Dropped

    Total $ 1,669 $ (1,615) $ 54 $ 1,718 $ (1,607) $ 111

  • Dropped

    The Convertible Notes will mature on February 15, 2026, unless earlier converted, redeemed or repurchased. The Convertible Notes will not bear regular interest, and the principal amount of the Convertible Notes will not accrete

  • Dropped

    Expedia Group's credit ratings. The terms of the revolving credit facility require Expedia Group to not exceed a specified maximum consolidated leverage ratio as of the end of each fiscal quarter

  • Dropped

    Balance as of December 31, 2024 6,712 124.31

  • Dropped

    Shares that could be issued if maximum performance thresholds are met 494 346 153 993 135.45

  • Dropped

    Exercisable as of December 31, 2024 2,392 154.61 1.6 76

  • Dropped

    There were no options granted during 2024, 2023 or 2022

  • Dropped

    Income tax expense $ 318 $ 330 $ 195

  • Dropped

    Balance, end of year $ 468 $ 425 $ 379

    2015 Indenture governing 5.000% Senior Notes due 2026.

  • Dropped

    $ 581 $ 325 $ 241 $ 15 $ —

  • Dropped

    We are in various stages of inquiry or audit with various tax authorities, some of which may impose a pay-to-play requirement to challenge an adverse inquiry or audit result in court

  • Dropped

    On January 24, 2025, Expedia Group provided notice that we would redeem all of our approximately $1.0 billion in 6.25% Senior Notes due 2025 with a stated redemption date of February 8, 2025

Reworded

  • 100% rewritten

    Foreign currency forward contracts $ 2 $ — $ 2

    Updated fair value hierarchy disclosures to include valuation details for cross-currency interest rate swaps and term deposit maturities.

  • 100% rewritten

    Other (6) (0.4) (1) (0.1) 6 0.6

    Replaced PSU activity table with Brazilian withholding tax data showing taxes of 76 million in 2025.

    Was: ___________________________________

  • 98% rewritten

    Recently Adopted Accounting Policies

    Replaced segment reporting adoption text with new income tax disclosure requirements adopted for the fiscal year ended December 31, 2025.

  • 98% rewritten

    Current income tax expense 212 244 268

    Updated deferred income tax expense figures for U.S. federal, state, and foreign jurisdictions for 2025.

    Was: Current income tax expense 244 268 125

  • 96% rewritten

    Letters of Credit, Purchase Obligations and Guarantees

    Updated purchase obligations, guarantees, and letters of credit table to reflect 2025 figures totaling $288 million.

  • 96% rewritten

    Effect of foreign exchange rate changes on cash and cash equivalents 189 (165) 16 354 (181)

    Updated operating cash flow drivers for 2025, noting a $795 million increase and Italian withholding tax settlements instead of VAT payments.

    Was: Effect of foreign exchange rate changes on cash and cash equivalents (165) 16 (190) (181) 206

  • 96% rewritten

    Operating income 1,871 1,319 1,033

    Updated 2025 other income and expense figures, showing net other expense of $280 million and provision for income taxes of $290 million.

    Was: Operating income 1,319 1,033 1,085

  • 95% rewritten

    Net cash used in investing activities (531) (1,262) (800)

    Added $985 million in long-term debt issuance proceeds, $1.044 billion in debt payments, and $200 million in common stock dividend payments for 2025.

    Was: Net cash used in investing activities (1,262) (800) (580)

  • 93% rewritten

    LIABILITIES AND STOCKHOLDERS’ EQUITY

  • 91% rewritten

    Net deferred tax assets $ 869 $ 919

    Was: Net deferred tax assets $ 919 $ 1,041

  • 91% rewritten

    Revenue by Business Model and Service Type

  • 91% rewritten

    NOTE 4 — Property and Equipment, Net

  • 90% rewritten

    10-K 001-37429 4.1 2/7/2025

    Was: 8-K 001-37429 4.1 5/5/2020

  • 89% rewritten

    We recognize interest and penalties related to unrecognized tax benefits in the income tax expense line in our consolidated statement of operations. Accrued interest and penalties are included in other long-term liabilities on the consolidated balance sheet

  • 88% rewritten

    Net cash provided by operating activities 3,880 3,085 2,690

    Was: Net cash provided by operating activities 3,085 2,690 3,440

  • 88% rewritten

    Reconciliation of U.S. Federal Statutory Income Tax Rate to Effective Income Tax Rate

  • 87% rewritten

    Unrecognized Tax Benefits

    Was: Unrecognized Tax Benefits and Interest

  • 84% rewritten

    Net income attributable to Expedia Group, Inc. $ 1,294 $ 1,234 $ 797

    Was: Net income attributable to Expedia Group, Inc. $ 1,234 $ 797 $ 352

  • 84% rewritten

    Revenue $ 14,733 $ 13,691 $ 12,839

    Was: Revenue $ 13,691 $ 12,839 $ 11,667

  • 83% rewritten

    NOTE 6 — Goodwill and Intangible Assets, Net

  • 82% rewritten

    Weighted average discount rate 4.2 % 4.2 %

    Was: Weighted average discount rate 4.2 % 4.1 %

  • 81% rewritten

    Basic 125,363 131,432 144,967

    Was: Basic 131,432 144,967 156,672

  • 81% rewritten

    8-K 001-37429 4.1 2/19/2021

  • 78% rewritten

    As of December 31, 2025 and 2024, our cash and cash equivalents consisted primarily of term deposits, certificates of deposits, money market funds and commercial paper with maturities of three months or less and bank account balances

    Was: As of December 31, 2024 and 2023, our cash and cash equivalents consisted primarily of term deposits, certificates of deposits, and money market funds with maturities of three months or less and bank account balances

  • 77% rewritten

    Net income $ 1,301 $ 1,224 $ 688

    Was: Net income $ 1,224 $ 688 $ 343

  • 76% rewritten

    Net deferred tax assets $ 412 $ 477

    Was: Net deferred tax assets $ 477 $ 553

  • 74% rewritten

    Redemption of Senior Notes

  • 72% rewritten

    Provision for Income Taxes

  • 71% rewritten

    $ 14,733 $ 13,691 $ 12,839

    Was: $ 13,691 $ 12,839 $ 11,667

  • 70% rewritten

    Recent Accounting Policies Not Yet Adopted

  • 69% rewritten

    Employee Stock Purchase Plan

  • 67% rewritten

    NOTE 13 — Restructuring and Related Reorganization Charges

  • 66% rewritten

    NOTE 3 — Fair Value Measurements

  • 64% rewritten

    Operating lease costs were $84 million, $85 million and $97 million for the years ended December 31, 2025, 2024 and 2023, respectively

    Was: Operating lease costs were $85 million, $97 million and $99 million for the years ended December 31, 2024, 2023 and 2022, respectively

  • 62% rewritten

    “make-whole” premium. If we elect to redeem the 3.25% Notes on or after November 15, 2029, we may redeem them at a redemption price of 100% of the principal plus accrued interest

    Was: whole” premium. If we elect to redeem the 5.0% Notes on or after November 12, 2025, we may redeem them at a redemption price of 100% of the principal plus accrued interest

  • 61% rewritten

    Financial Position, Liquidity and Capital Resources

  • 61% rewritten

    In addition, we have had the use of an aircraft owned 100% by a subsidiary of IAC on a cost basis until the sale of such aircraft during the fourth quarter of 2025. Total payments made to this entity by the Company were not material

    Was: In addition, we have agreements pursuant to which we may use additional aircraft owned by a subsidiary of IAC on a cost basis. Total payments made to this entity by the Company were not material

  • 58% rewritten

    As of December 31, 2025, $1.6 billion remains authorized for repurchase under the 2023 Share Repurchase Program

    Was: As of December 31, 2024, $3.2 billion remain authorized for repurchase under the 2023 Share Repurchase Program

  • 55% rewritten

    Property and equipment, net $ 2,447 $ 2,413

    Was: Property and equipment, net $ 2,413 $ 2,359

  • 55% rewritten

    Diluted Earnings Per Share

  • 55% rewritten

    Diluted 131,943 137,919 150,228

    Was: Diluted 137,919 150,228 161,751

  • 54% rewritten

    We recognize interest and penalties related to unrecognized tax benefits in the provision for income taxes in our consolidated statement of operations. Accrued interest and penalties of $133 million and $117 million were reflected in our consolidated balance sheets as of December 31, 2025 and 2024

    Was: We recognize interest and penalties related to unrecognized tax benefits in the provision for income taxes in our consolidated statement of operations. Accrued interest and penalties of $117 million and $90 million were reflected in our consolidated balance sheets as of December 31, 2024 and 2023

  • 47% rewritten

    Accumulated Other Comprehensive Income (Loss)

  • 46% rewritten

    As of December 31, 2025, the Company's treasury stock was comprised of approximately 174.5 million shares of common stock and 7.3 million Class B shares. As of December 31, 2024, the Company's treasury stock was comprised of approximately 164.2 million shares of common stock and 7.3 million Class B shares

    Was: As of December 31, 2024, the Company's treasury stock was comprised of approximately 164.2 million shares of common stock and 7.3 million Class B shares. As of December 31, 2023, the Company's treasury stock was comprised of approximately 150.6 million shares of common stock and 7.3 million Class B shares

  • 46% rewritten

    Short-term and Long-term Investments

  • 46% rewritten

    8-K 001-37429 4.1 9/21/2017

  • 46% rewritten

    Recoverability of Goodwill and Indefinite-Lived Intangible Assets

  • 45% rewritten

    Commitments and contingencies

  • 44% rewritten

    Impairment Assessments. We perform our annual assessment of possible impairment of goodwill and indefinite-lived intangible assets as of October 1, or more frequently if events and circumstances indicate that an impairment may have occurred

  • 42% rewritten

    NOTE 18 — Valuation and Qualifying Accounts

  • 37% rewritten

    Summarized Financial Information for Guarantors and the Issuer of Guaranteed Securities

  • 35% rewritten

    (1)Other includes car rental, insurance, activities, and cruise, among other revenue streams, none of which are individually material

  • 34% rewritten

    NOTE 9 — Stock-Based Awards and Other Equity Instruments

  • 31% rewritten

    Cash, Restricted Cash, and Cash Equivalents

  • 30% rewritten

    NOTE 17 — Segment Information

  • 30% rewritten

    As of December 31, 2025, we were in compliance with the covenants and conditions in our revolving credit facility and outstanding debt as detailed in NOTE 7 — Debt in the notes to the consolidated financial statements

    Was: As of December 31, 2024, we were in compliance with the covenants and conditions in our revolving credit facility and outstanding debt as detailed in NOTE 7 — Debt in the notes to the consolidated financial statements

  • 29% rewritten

    Assets Measured at Fair Value on a Non-recurring Basis

  • 28% rewritten

    Changes in Internal Control over Financial Reporting

  • 25% rewritten

    8-K 001-37429 10.1 4/18/2022

  • 25% rewritten

    Cross-currency interest rate swaps 25 — 25

  • 24% rewritten

    Definition and Reconciliation of Adjusted EBITDA

  • 21% rewritten

    Lodging. Our lodging revenue is comprised of revenue recognized under the merchant, agency and Vrbo subscription-based listing services model

  • 20% rewritten

    NOTE 8 — Employee Benefit Plans

All 119 risk factors

Headings as the filing states them, in filing order.

Other

  1. 01Definition and Reconciliation of Adjusted EBITDA24% rewritten
  2. 02Financial Position, Liquidity and Capital Resources61% rewritten
  3. 03As of December 31, 2025, we were in compliance with the covenants and conditions in our revolving credit facility and outstanding debt as detailed in NOTE 7 — Debt in the notes to the consolidated financial statements30% rewritten
  4. 04Effect of foreign exchange rate changes on cash and cash equivalents 189 (165) 16 354 (181)96% rewritten
  5. 05As of December 31, 2025, $1.6 billion remains authorized for repurchase under the 2023 Share Repurchase Program58% rewritten
  6. 06In addition, we had $298 million of net unrecognized tax benefits recorded on our balance sheet as of December 31, 2025, for which we cannot make a reasonably reliable estimate of the amount and period of payment
  7. 07Summarized Financial Information for Guarantors and the Issuer of Guaranteed Securities37% rewritten
  8. 08Changes in Internal Control over Financial Reporting28% rewritten
  9. 09Evaluation of Disclosure Controls and Procedures
  10. 10Management’s Report on Internal Control over Financial Reporting
  11. 11Opinion on Internal Control Over Financial Reporting
  12. 12We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects
  13. 13Definition and Limitations of Internal Control Over Financial Reporting
  14. 14Rule 10b5-1 Plan Elections
  15. 15Insider Trading Policy and Procedures
  16. 1610-K 001-37429 4.1 2/7/202590% rewritten
  17. 178-K 001-37429 4.1 12/8/2015
  18. 188-K 001-37429 4.1 9/21/201746% rewritten
  19. 198-K 001-37429 4.1 9/20/2019New
  20. 208-K 001-37429 4.2 7/15/2020
  21. 218-K 001-37429 4.1 2/19/202181% rewritten
  22. 228-K 001-37429 4.1 2/21/2025New
  23. 23AM*† 333-210377 2.1 11/4/2016
  24. 248-K 001-37429 10.1 4/18/202225% rewritten
  25. 25104 Cover page formatted as Inline XBRL and contained in Exhibit 101
  26. 26Opinion on the Financial Statements
  27. 27Description of the Matter
  28. 28How We Addressed the Matter in Our Audit
  29. 29Revenue $ 14,733 $ 13,691 $ 12,83984% rewritten
  30. 30Operating income 1,871 1,319 1,03396% rewritten
  31. 31Net income attributable to Expedia Group, Inc. $ 1,294 $ 1,234 $ 79784% rewritten
  32. 32LIABILITIES AND STOCKHOLDERS’ EQUITY93% rewritten
  33. 33Commitments and contingencies45% rewritten
  34. 34Payment of dividends to common stockholders (declared at $1.60 per share)New
  35. 35Net income $ 1,301 $ 1,224 $ 68877% rewritten
  36. 36Net cash provided by operating activities 3,880 3,085 2,69088% rewritten
  37. 37Net cash used in investing activities (531) (1,262) (800)95% rewritten
  38. 38NOTE 1 — Basis of PresentationNew
  39. 39We recognize revenue upon transfer of control of our promised services in an amount that reflects the consideration we expect to be entitled to in exchange for those services
  40. 40Under the merchant model, we facilitate the booking of hotel rooms, alternative accommodations, airline seats, car rentals and destination services from our travel suppliers and we are the merchant of record for such bookings
  41. 41In addition, Vrbo also provides subscription-based listing and other ancillary services to property owners and managers
  42. 42Lodging. Our lodging revenue is comprised of revenue recognized under the merchant, agency and Vrbo subscription-based listing services model21% rewritten
  43. 43Cash, Restricted Cash, and Cash Equivalents31% rewritten
  44. 44Short-term and Long-term Investments46% rewritten
  45. 45leasehold improvement using the straight-line method, over the shorter of the estimated useful life of the improvement or the remaining term of the leaseNew
  46. 46Recoverability of Goodwill and Indefinite-Lived Intangible Assets46% rewritten
  47. 47industries; and the blended use of both models compensates for the inherent risks associated with either model if used on a stand-alone basisNew
  48. 48Recoverability of Intangible Assets with Definite Lives and Other Long-Lived Assets
  49. 49We recognize interest and penalties related to unrecognized tax benefits in the income tax expense line in our consolidated statement of operations. Accrued interest and penalties are included in other long-term liabilities on the consolidated balance sheet89% rewritten
  50. 50Foreign Currency Translation and Transaction Gains and Losses
  51. 51Fair Value Recognition, Measurement and Disclosure
  52. 52Level 1 — Valuations based on quoted prices for identical assets and liabilities in active markets
  53. 53Certain Risks and Concentrations
  54. 54Occupancy and Other Taxes
  55. 55Recently Adopted Accounting Policies98% rewritten
  56. 56Recent Accounting Policies Not Yet Adopted70% rewritten
  57. 57NOTE 3 — Fair Value Measurements66% rewritten
  58. 58Cross-currency interest rate swaps 25 — 2525% rewritten
  59. 59Foreign currency forward contracts $ 2 $ — $ 2100% rewritten
  60. 60As of December 31, 2025 and 2024, our cash and cash equivalents consisted primarily of term deposits, certificates of deposits, money market funds and commercial paper with maturities of three months or less and bank account balances78% rewritten
  61. 61Assets Measured at Fair Value on a Non-recurring Basis29% rewritten
  62. 62NOTE 4 — Property and Equipment, Net91% rewritten
  63. 63Property and equipment, net $ 2,447 $ 2,41355% rewritten
  64. 64Operating lease costs were $84 million, $85 million and $97 million for the years ended December 31, 2025, 2024 and 2023, respectively64% rewritten
  65. 65Operating cash flows for operating lease payments $ 81 $ 80 $ 92New
  66. 66Weighted average discount rate 4.2 % 4.2 %82% rewritten
  67. 67NOTE 6 — Goodwill and Intangible Assets, Net83% rewritten
  68. 68Impairment Assessments. We perform our annual assessment of possible impairment of goodwill and indefinite-lived intangible assets as of October 1, or more frequently if events and circumstances indicate that an impairment may have occurred44% rewritten
  69. 69Balance as of December 31, 2025 $ 6,444 $ 412 $ 16 $ 6,872New
  70. 70Indefinite-lived Intangible Assets. Our indefinite-lived intangible assets relate principally to trade names and trademarks acquired in various acquisitionsNew
  71. 71Total $ 1,727 $ (1,677) $ 50 $ 1,669 $ (1,615) $ 54New
  72. 72Senior Notes OutstandingNew
  73. 73“make-whole” premium. If we elect to redeem the 3.25% Notes on or after November 15, 2029, we may redeem them at a redemption price of 100% of the principal plus accrued interest62% rewritten
  74. 74Convertible Notes Outstanding. In February 2021, we completed our private placement of $1 billion aggregate principal amount of unsecured 0% convertible senior notes that mature on February 15, 2026 unless earlier converted, redeemed or repurchased (the "Convertible Notes")New
  75. 75Interest expense related to the amortization of the original debt issuance costs for the Convertible Notes was $3 million during each of the years ended December 31, 2025, 2024 and 2023New
  76. 76Redemption of Senior Notes74% rewritten
  77. 77NOTE 8 — Employee Benefit Plans20% rewritten
  78. 78NOTE 9 — Stock-Based Awards and Other Equity Instruments34% rewritten
  79. 79Balance as of December 31, 2025 5,038 144.65New
  80. 80(1)Represents number of shares granted at 100% of targetNew
  81. 81The total market value of RSU and PSU shares vested during the years ended December 31, 2025, 2024 and 2023 was $722 million, $578 million and $316 millionNew
  82. 82Exercisable as of December 31, 2025 1,700 157.18 0.7 214New
  83. 83Employee Stock Purchase Plan69% rewritten
  84. 84Provision for Income Taxes72% rewritten
  85. 85Current income tax expense 212 244 26898% rewritten
  86. 86Deferred income tax expense 78 74 62New
  87. 87Net deferred tax assets $ 869 $ 91991% rewritten
  88. 88Net deferred tax assets $ 412 $ 47776% rewritten
  89. 89Reconciliation of U.S. Federal Statutory Income Tax Rate to Effective Income Tax Rate88% rewritten
  90. 90Other (6) (0.4) (1) (0.1) 6 0.6100% rewritten
  91. 91Other foreign jurisdictions 20 1.3 12 0.8 10 1.0New
  92. 92Other (4) (0.3) 4 0.3 (3) (0.3)New
  93. 93Changes in valuation allowances 35 2.2 (60) (3.9) — —New
  94. 94Changes in unrecognized tax benefits (40) (2.5) 34 2.2 41 4.0New
  95. 95Effective tax rate $ 290 18.2 % $ 318 20.6 % $ 330 32.4 %New
  96. 96Income Taxes Paid (Net of Refunds Received)New
  97. 97Unrecognized Tax Benefits87% rewritten
  98. 98Balance, end of year $ 290 $ 351 $ 335New
  99. 99We recognize interest and penalties related to unrecognized tax benefits in the provision for income taxes in our consolidated statement of operations. Accrued interest and penalties of $133 million and $117 million were reflected in our consolidated balance sheets as of December 31, 2025 and 202454% rewritten
  100. 100return prior to or in connection with the spin-off. TripAdvisor is required to indemnify Expedia Group for any such taxes, including interest, penalties, legal, and professional feesNew
  101. 101Common Stock and Class B Common Stock
  102. 102As of December 31, 2025, the Company's treasury stock was comprised of approximately 174.5 million shares of common stock and 7.3 million Class B shares. As of December 31, 2024, the Company's treasury stock was comprised of approximately 164.2 million shares of common stock and 7.3 million Class B shares46% rewritten
  103. 103Dividends on our Common StockNew
  104. 104(in millions) Payment DateNew
  105. 105November 6, 2025 0.40 November 19, 2025 49 December 11, 2025New
  106. 106Accumulated Other Comprehensive Income (Loss)47% rewritten
  107. 107As of December 31, 2025 and 2024, our ownership interest in trivago was approximately 59.2% and 59.5%
  108. 108Diluted Earnings Per Share55% rewritten
  109. 109Basic 125,363 131,432 144,96781% rewritten
  110. 110Diluted 131,943 137,919 150,22855% rewritten
  111. 111NOTE 13 — Restructuring and Related Reorganization Charges67% rewritten
  112. 112Letters of Credit, Purchase Obligations and Guarantees96% rewritten
  113. 113In addition, we have had the use of an aircraft owned 100% by a subsidiary of IAC on a cost basis until the sale of such aircraft during the fourth quarter of 2025. Total payments made to this entity by the Company were not material61% rewritten
  114. 114NOTE 17 — Segment Information30% rewritten
  115. 115(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODMs, exclusive of stock-based compensation. Intersegment expenses are included within the amounts shown
  116. 116Revenue by Business Model and Service Type91% rewritten
  117. 117(1)Other includes car rental, insurance, activities, and cruise, among other revenue streams, none of which are individually material35% rewritten
  118. 118$ 14,733 $ 13,691 $ 12,83971% rewritten
  119. 119NOTE 18 — Valuation and Qualifying Accounts42% rewritten

Other Expedia Group 10-Ks

  • FY2024 10-K risk factors
    110 risks

    The company relies on a strong liquidity position, supported by a 2.5 billion dollar credit facility and solid operating cash flows. Deferred merchant bookings and loyalty program breakage are central accounting factors for operations and revenue recognition.

    Filed Feb 07, 2025

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.