XML 27 R14.htm IDEA: XBRL DOCUMENT v3.23.3
Stockholders’ Equity
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Stockholders’ Equity Stockholders’ Equity
Treasury Stock
As of September 30, 2023, the Company’s treasury stock was comprised of approximately 146.6 million common stock and 7.3 million Class B shares. As of December 31, 2022, the Company’s treasury stock was comprised of approximately 130.5 million shares of common stock and 7.3 million Class B shares.
Share Repurchase Programs. In December 2019, the Board of Directors and the Executive Committee of the Board, pursuant to a delegation of authority from the Board, authorized a program to repurchase up to 20 million shares of our common stock (the “2019 Share Repurchase Program”). During the nine months ended September 30, 2023, we repurchased, through open market transactions, 15.4 million shares under the 2019 Share Repurchase Program for a total cost of $1.6 billion, excluding transaction costs and excise tax due under the Inflation Reduction Act of 2022, representing an average repurchase price of $103.48 per share. As of September 30, 2023, 2.7 million shares remain authorized for repurchase under the 2019 Share Repurchase Program. Subsequent to the end of the third quarter of 2023, we repurchased an additional 1.7 million shares for a total cost of $173 million, excluding transaction costs, representing an average purchase price of $98.85 per share. In October 2023, the Executive Committee of the Board of Directors, pursuant to a delegation of authority from the Board, authorized an additional program to repurchase up to $5 billion of our common stock (“2023 Share Repurchase Program”). Our 2019 and 2023 Share Repurchase Programs do not have fixed expiration dates and do not obligate the Company to acquire any specific number of shares. Under the programs, shares may be repurchased in the open market or in privately negotiated transactions. The timing, manner, price and amount of any repurchases will be subject to the discretion of the Company and depend on a variety of factors, including the market price of Expedia Group’s common stock, general market and economic conditions, regulatory requirements and other business considerations.
Accumulated Other Comprehensive Income (Loss)
The balance of AOCI as of September 30, 2023 and December 31, 2022 was comprised of foreign currency translation adjustments. These translation adjustments include foreign currency transaction gains as of September 30, 2023 of $15 million ($20 million before tax) and $16 million ($21 million before tax) as of December 31, 2022 associated with our cross-currency interest rate swaps as described in Note 3 – Fair Value Measurements. Additionally, translation adjustments include foreign currency transaction losses of $7 million ($10 million before tax) as of both September 30, 2023 and December 31, 2022 associated with previously settled Euro-denominated notes that were designated as net investment hedges.
trivago Special Dividend
During September 2023, trivago announced the distribution of a one-time extraordinary dividend totaling approximately EUR 184 million (or approximately EUR 0.53 per share) later this year, including intercompany amounts to Expedia Group. Part of this extraordinary dividend in the amount of approximately EUR 168 million is subject to trivago shareholder approval and trivago’s shareholders approved this part of the extraordinary dividend on November 1, 2023. The payment date for the distribution on the common shares is anticipated to be on November 6, 2023, with a record date of November 3, 2023. As of September 30, 2023, we have accrued approximately $78 million related to the payment of dividends to third-parties during the fourth quarter.