XML 49 R36.htm IDEA: XBRL DOCUMENT
v3.25.3

SEGMENT REPORTING AND GEOGRAPHIC INFORMATION (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following table presents information for the Company's reportable segment. Other segment items include operating expenses such as general and administrative and information technology. See Note 2 to the Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 for additional information on these expenses.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
(in millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |
Total revenues |  | $ | 9,008 |  |  | $ | 7,994 |  |  | $ | 20,568 |  |  | $ | 18,268 |  |  |
Marketing expenses |  | 2,340 |  |  | 2,151 |  |  | 6,256 |  |  | 5,700 |  |  |
Sales and other expenses |  | 1,022 |  |  | 872 |  |  | 2,623 |  |  | 2,353 |  |  |
Personnel expenses |  | 894 |  |  | 808 |  |  | 2,507 |  |  | 2,341 |  |  |
Other segment items |  | 535 |  |  | 492 |  |  | 1,486 |  |  | 1,538 |  |  |
Segment Adjusted EBITDA less Capex |  | $ | 4,217 |  |  | $ | 3,671 |  |  | $ | 7,696 |  |  | $ | 6,336 |  |  |
Reconciliation of segment Adjusted EBITDA less Capex to Income before income taxes | The following table presents the reconciliation of the Company's segment Adjusted EBITDA less Capex to Income before income taxes:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
(in millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |
Segment Adjusted EBITDA less Capex |  | $ | 4,217 |  |  | $ | 3,671 |  |  | $ | 7,696 |  |  | $ | 6,336 |  |  |
Additions to property and equipment |  | 78 |  |  | 88 |  |  | 248 |  |  | 356 |  |  |
Adjustment related to the Netherlands pension fund matter (1) |  | — |  |  | — |  |  | 123 |  |  | — |  |  |
Accruals related to the fine imposed by the Spanish competition authority (1) |  | — |  |  | — |  |  | — |  |  | 78 |  |  |
Impact of certain indirect tax matters (2) |  | (45) |  |  | (365) |  |  | (45) |  |  | (365) |  |  |
Depreciation and amortization (3) |  | (160) |  |  | (155) |  |  | (472) |  |  | (434) |  |  |
Impairment (4) |  | (457) |  |  | — |  |  | (457) |  |  | — |  |  |
Transformation costs (5) |  | (105) |  |  | — |  |  | (173) |  |  | — |  |  |
Interest expense (3) |  | (301) |  |  | (305) |  |  | (1,368) |  |  | (788) |  |  |
Interest and dividend income (3) |  | 248 |  |  | 327 |  |  | 723 |  |  | 863 |  |  |
Net gains on equity securities (6) |  | 92 |  |  | 32 |  |  | 116 |  |  | 27 |  |  |
Foreign currency transaction losses on the remeasurement of certain Euro-denominated debt and accrued interest and gains on debt-related foreign currency derivative instruments (6) |  | (9) |  |  | (329) |  |  | (1,359) |  |  | (94) |  |  |
Loss on early extinguishment of debt (7) |  | (25) |  |  | — |  |  | (25) |  |  | — |  |  |
Change in fair value of the conversion option of the convertible senior notes (7) |  | — |  |  | — |  |  | 163 |  |  | — |  |  |
Other (8) |  | (64) |  |  | (95) |  |  | (201) |  |  | (251) |  |  |
Income before income taxes |  | $ | 3,469 |  |  | $ | 2,869 |  |  | $ | 4,969 |  |  | $ | 5,728 |  |  |
(1) See Note 13 for additional information. (2) For the three and nine months ended September 30, 2024, the Company accrued an amount of $365 million related to the previously disclosed settlement with the Italian Tax Authorities for the withholding of income tax liabilities for certain short-term rental partners in Italy, which is reflected in "General and administrative" expenses in the Unaudited Consolidated Statements of Operations. (3) See the Unaudited Consolidated Statements of Operations. (4) See Note 8 for additional information. (5) See Note 17 for additional information. (6) See Note 15 for additional information. (7) See Note 9 for additional information. (8) Primarily consists of the expenses of corporate headquarters and certain other functional departments.
Geographic information on revenues |
(in millions) |  | U.S. |  |  |  |  |  | Outside of the U.S. (1) |  | Total Company
Total revenues for the three months ended September 30, |  |  |  |  |  |  |  |  |  |
2025 |  | $ | 677 |  |  |  |  |  |  | $ | 8,331 |  |  | $ | 9,008 |
2024 |  | $ | 662 |  |  |  |  |  |  | $ | 7,332 |  |  | $ | 7,994 |
Total revenues for the nine months ended September 30, |  |  |  |  |  |  |  |  |  |
2025 |  | $ | 1,918 |  |  |  |  |  |  | $ | 18,650 |  |  | $ | 20,568 |
2024 |  | $ | 1,857 |  |  |  |  |  |  | $ | 16,411 |  |  | $ | 18,268 |
(1) Includes $7.6 billion and $16.7 billion for the three and nine months ended September 30, 2025, respectively, and $6.6 billion and $14.4 billion for the three and nine months ended September 30, 2024, respectively, attributed to an entity domiciled in the Netherlands.

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration