Expedia (EXPE) 10-Q 27 Apr 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 13, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	EXPE
Entity Registrant Name	EXPEDIA GROUP, INC.
Entity Central Index Key	1,324,424
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		137,514,137
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,799,999

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Revenue	$ 2,508	$ 2,189
Costs and expenses:
Cost of revenue	487	422
Selling and marketing	1,516	1,270
Technology and content	396	322
General and administrative	199	158
Amortization of intangible assets	72	67
Legal reserves, occupancy tax and other	3	21
Restructuring and related reorganization charges	0	2
Operating loss	(165)	(73)
Other income (expense):
Interest income	11	6
Interest expense	(51)	(43)
Other, net	36	(21)
Total other expense, net	(4)	(58)
Loss before income taxes	(169)	(131)
Provision for income taxes	20	47
Net loss	(149)	(84)
Net (income) loss attributable to non-controlling interests	12	(2)
Net loss attributable to Expedia Group, Inc.	$ (137)	$ (86)
Loss per share attributable to Expedia Group, Inc. available to common stockholders:
Basic (in dollars per share)	$ (0.91)	$ (0.57)
Diluted (in dollars per share)	$ (0.91)	$ (0.57)
Shares used in computing loss per share (000's):
Basic (in shares)	151,817	150,531
Diluted (in shares)	151,817	150,531
Dividends declared per common share (in dollars per share)	$ 0.30	$ 0.28

CONSOLIDATED STATEMENTS OF OPE3

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cost of revenue
Stock-based compensation	$ 2	$ 3
Selling and marketing
Stock-based compensation	11	11
Technology and content
Stock-based compensation	15	13
General and administrative
Stock-based compensation	$ 22	$ 20

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net loss		$ (149)	$ (84)
Currency translation adjustments, net of tax	[1]	38	34
Comprehensive loss		(111)	(50)
Less: Comprehensive income (loss) attributable to non-controlling interests		(1)	7
Comprehensive loss attributable to Expedia Group, Inc.		$ (110)	$ (57)
[1]	Currency translation adjustments include a tax benefit of $5 million associated with net investment hedges for the three months ended March 31, 2018 and tax benefit of $4 million the three months ended March 31, 2017.

CONSOLIDATED STATEMENTS OF COM5

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Currency translation adjustments, tax benefit	$ (5)	$ (4)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 3,423	$ 2,847
Restricted cash and cash equivalents	219	69
Short-term investments	1,031	468
Accounts receivable, net of allowance of $31 and $31	2,253	1,866
Income taxes receivable	176	21
Prepaid expenses and other current assets	329	269
Total current assets	7,431	5,540
Property and equipment, net	1,627	1,575
Long-term investments and other assets	858	845
Deferred income taxes	19	18
Intangible assets, net	2,243	2,309
Goodwill	8,251	8,229
TOTAL ASSETS	20,429	18,516
Current liabilities:
Accounts payable, merchant	1,713	1,838
Accounts payable, other	838	698
Deferred merchant bookings	5,866	3,219
Deferred revenue	469	326
Income taxes payable	8	33
Accrued expenses and other current liabilities	597	1,265
Current maturities of long-term debt	500	500
Total current liabilities	9,991	7,879
Long-term debt, excluding current maturities	3,771	3,749
Deferred income taxes	405	329
Other long-term liabilities	432	408
Redeemable non-controlling interests	22	22
Commitments and contingencies
Stockholders’ equity:
Additional paid-in capital	9,228	9,163
Treasury stock - Common stock, at cost; Shares: 87,950 and 87,077	(5,025)	(4,822)
Retained earnings	117	331
Accumulated other comprehensive income (loss)	(125)	(149)
Total Expedia Group, Inc. stockholders’ equity	4,195	4,523
Non-redeemable non-controlling interests	1,613	1,606
Total stockholders’ equity	5,808	6,129
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	20,429	18,516
Class B Common Stock
Stockholders’ equity:
Common stock	0	0
Common Stock
Stockholders’ equity:
Common stock	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Accounts receivable, allowance	$ 31	$ 31
Treasury stock - Common stock, Shares	91,428,000	89,528,000
Common Stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, Authorized shares	1,600,000,000	1,600,000,000
Common stock, Shares issued	229,437,000	228,467,000
Common stock, Shares outstanding	138,009,000	138,939,000
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, Authorized shares	400,000,000	400,000,000
Common stock, Shares issued	12,800,000	12,800,000
Common stock, Shares outstanding	12,800,000	12,800,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities:
Net loss	$ (149)	$ (84)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation of property and equipment, including internal-use software and website development	167	141
Amortization of stock-based compensation	50	47
Amortization of intangible assets	72	67
Deferred income taxes	88	14
Foreign exchange (gain) loss on cash, restricted cash and short-term investments, net	(5)	(10)
Realized (gain) loss on foreign currency forwards	(8)	7
(Gain) loss on minority equity investments, net	37	(1)
Other	(3)	(10)
Changes in operating assets and liabilities, net of effects from acquisitions:
Accounts receivable	(345)	(232)
Prepaid expenses and other assets	(57)	(38)
Accounts payable, merchant	(127)	(87)
Accounts payable, other, accrued expenses and other current liabilities	38	65
Tax payable/receivable, net	(178)	(86)
Deferred merchant bookings	2,027	1,807
Deferred revenue	143	86
Net cash provided by operating activities	1,676	1,688
Investing activities:
Capital expenditures, including internal-use software and website development	(192)	(167)
Purchases of investments	(867)	(780)
Sales and maturities of investments	317	6
Net settlement of foreign currency forwards	8	(7)
Other, net	6	(2)
Net cash used in investing activities	(728)	(950)
Financing activities:
Purchases of treasury stock	(202)	(45)
Payment of dividends to stockholders	(46)	(42)
Proceeds from exercise of equity awards and employee stock purchase plan	20	58
Other, net	(8)	(19)
Net cash used in financing activities	(236)	(48)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents	17	31
Net increase in cash, cash equivalents and restricted cash and cash equivalents	729	721
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period	2,917	1,818
Cash, cash equivalents and restricted cash and cash equivalents at end of period	3,646	2,539
Supplemental cash flow information
Cash paid for interest	86	72
Income tax payments, net	$ 67	$ 25

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1 – Basis of Presentation Description of Business Expedia Group, Inc. and its subsidiaries (formerly "Expedia, Inc.") provide travel products and services to leisure and corporate travelers in the United States and abroad as well as various media and advertising offerings to travel and non-travel advertisers. These travel products and services are offered through a diversified portfolio of brands including: Brand Expedia ® , Hotels.com ® , Expedia ® Partner Solutions, Egencia ® , trivago ® , HomeAway ®, Orbitz ® , Travelocity ® , Wotif ® , lastminute.com.au ® , ebookers ®, CheapTickets ®, Hotwire ® , Classic Vacations ® , CarRentals.com TM , Expedia Local Expert ® , Expedia ® CruiseShipCenters ® , SilverRail Technologies, Inc., ALICE and Traveldoo ® . In addition, many of these brands have related international points of sale, including those as part of AirAsia-Expedia ™ . We refer to Expedia Group, Inc. and its subsidiaries collectively as “Expedia Group,” the “Company,” “us,” “we” and “our” in these consolidated financial statements. Basis of Presentation These accompanying financial statements present our results of operations, financial position and cash flows on a consolidated basis. The unaudited consolidated financial statements include Expedia Group, Inc., our wholly-owned subsidiaries, and entities we control, or in which we have a variable interest and are the primary beneficiary of expected cash profits or losses. We have eliminated significant intercompany transactions and accounts. We have prepared the accompanying unaudited consolidated financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial reporting. We have included all adjustments necessary for a fair presentation of the results of the interim period. These adjustments consist of normal recurring items. Our interim unaudited consolidated financial statements are not necessarily indicative of results that may be expected for any other interim period or for the full year. These interim unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2017 , previously filed with the Securities and Exchange Commission. trivago is a separately listed company on the Nasdaq Global Select Market and, therefore is subject to its own reporting and filing requirements, which could result in possible differences that are not expected to be material to Expedia Group. Accounting Estimates We use estimates and assumptions in the preparation of our interim unaudited consolidated financial statements in accordance with GAAP. Our estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of our interim unaudited consolidated financial statements. These estimates and assumptions also affect the reported amount of net income or loss during any period. Our actual financial results could differ significantly from these estimates. The significant estimates underlying our interim unaudited consolidated financial statements include revenue recognition; recoverability of current and long-lived assets, intangible assets and goodwill; income and transactional taxes, such as potential settlements related to occupancy and excise taxes; loss contingencies; deferred loyalty rewards; acquisition purchase price allocations; stock-based compensation and accounting for derivative instruments. Reclassifications We have reclassified certain amounts related to our prior period results to conform to our current period presentation. Seasonality We generally experience seasonal fluctuations in the demand for our travel products and services. For example, traditional leisure travel bookings are generally the highest in the first three quarters as travelers plan and book their spring, summer and winter holiday travel. The number of bookings typically decreases in the fourth quarter. Because revenue for most of our travel products, including merchant and agency hotel, is recognized as the travel takes place rather than when it is booked, revenue typically lags bookings by several weeks for our hotel business and can be several months for our vacation rental business. Historically, HomeAway has seen seasonally stronger bookings in the first quarter of the year, with the relevant stays occurring during the peak summer travel months. The seasonal revenue impact is exacerbated with respect to income by the nature of our variable cost of revenue and direct sales and marketing costs, which we typically realize in closer alignment to booking volumes, and the more stable nature of our fixed costs. Furthermore, operating profits for our primary advertising business, trivago, have typically been experienced in the second half of the year, particularly the fourth quarter, as selling and marketing costs offset revenue in the first half of the year as we aggressively market during the busy booking period for spring, summer and winter holiday travel. As a result on a consolidated basis, revenue and income are typically the lowest in the first quarter and highest in the third quarter. The continued growth of our international operations, advertising business or a change in our product mix, including the growth of HomeAway, may influence the typical trend of the seasonality in the future, and there may also be business or market driven dynamics that result in short-term impacts to revenue or profitability that differ from the typical seasonal trends.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Recently Adopted Accounting Policies Revenue from Contracts with Customers. As of January 1, 2018, we adopted the Accounting Standards Updates ("ASU") amending revenue recognition guidance using the modified retrospective method for all contracts reflecting the aggregate effect of modifications prior to the date of adoption. Results for reporting periods beginning after January 1, 2018 are presented under the new guidance, while prior period amounts were not adjusted and continue to be reported under the accounting standards in effect for those periods. The new guidance impacted our loyalty program accounting as we are no longer permitted to use the incremental cost method when recording the financial impact of rewards earned in conjunction with our traveler loyalty programs. Instead, we re-value our liability using a relative fair value approach and now record our loyalty liability as a component of deferred merchant bookings. Additionally, due to the new definition of variable consideration, we are required to estimate and record certain variable payments, primarily volume commissions, earlier than previously recorded. Both modifications resulted in cumulative-effect adjustments to opening retained earnings, with an insignificant change to revenue on a go-forward basis. The new guidance also results in insignificant changes in the timing and classification of certain other revenue streams, including the reclassification of air distribution fees from net revenue to cost of revenue. For a comprehensive discussion of our updated revenue recognition policy, refer to the Significant Accounting Policies-Revenue Recognition disclosure below. Upon adoption, we recognized a cumulative effect of applying the new revenue guidance as a reduction to the opening balance of retained earnings of $11 million ( $8 million net of tax) comprised of changes in the accounting for our loyalty program of $49 million ( $38 million net of tax) as well as other immaterial adjustments of $2 million ( $1 million net of tax), partially offset by the impact of estimating variable consideration of $40 million ( $31 million net of tax). The impact of the new guidance to our consolidated financial statements was not meaningful as of and for the three months ended March 31, 2018. The cumulative effect of the revenue accounting changes made to our consolidated balance sheet as of January 1, 2018 were as follows: Balance at December 31, 2017 Adjustments Balance at January 1, 2018 (in millions) Current and long-term assets: Accounts receivable, net $ 1,866 $ (40 ) $ 1,826 Prepaid expenses and other current assets 269 (1 ) 268 Long-term investments and other assets 845 (3 ) 842 Current and long-term liabilities: Deferred merchant bookings 3,219 619 3,838 Accrued expenses and other current liabilities 1,265 (564 ) 701 Deferred income taxes 329 (3 ) 326 Stockholders' equity: Retained earnings 331 (8 ) 323 Recognition and Measurement of Financial Instruments. As of January 1, 2018, we adopted the new guidance related to accounting for equity investments and financial liabilities under the fair value option. The most significant impact to the Company of this new guidance was with respect to the requirement that minority equity investments with readily determinable fair values, such as our investment in Despegar.com, Corp ("Despegar"), must be carried at fair value with changes in fair value recorded through net income. Previously, such investment was designated as available for sale and was recorded at fair value with changes in fair value recorded through other comprehensive income (loss). In addition, we elected to prospectively account for minority investments without readily determinable fair values at cost, with observable price changes reflected through net income. Upon adoption, we reclassified $7 million related to the unrealized loss, net of tax, of Despegar from accumulated other comprehensive income (loss) (“AOCI”) with a corresponding decrease to retained earnings. See Note 3 – Fair Value Measurements for further information on Despegar as well as our minority investments without readily determinable fair values. Statement of Cash Flows. As of January 1, 2018, we adopted the new guidance related to the statement of cash flows, which clarified how companies present and classify certain cash receipts and cash payments as well as amended previous guidance to address the classification and presentation of changes in restricted cash in the statement of cash flows. Upon adoption, we retrospectively adjusted the prior periods presented in our consolidated statement of cash flows, which resulted in a slight working capital benefit in prepaid expenses and other assets within operating activities in the three months ended March 31, 2017. Refer to the Significant Accounting Policies-Restricted Cash and Cash Equivalents section below for a reconciliation of cash, cash equivalents and restricted cash and cash equivalents reported in our consolidated balance sheets to the total shown in our consolidated statement of cash flows. Intra-entity Transfers of Assets Other Than Inventory. As of January 1, 2018, we adopted the new guidance amending the accounting for income taxes associated with intra-entity transfers of assets other than inventory. This new guidance requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs rather than our historical practice to defer and amortize the tax consequences over a specified period of time. As a result of the adoption, we reduced retained earnings by approximately $26 million , reduced long-term investments and other assets by approximately $31 million and increased deferred tax assets by approximately $5 million related to the unrecognized income tax effects of asset transfers that occurred prior to adoption. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. In February 2018, the Financial Accounting Standards Board (“FASB”) issued new guidance that allows an entity to elect to reclassify “stranded” tax effects in AOCI to retained earnings to address concerns related to accounting for certain provisions of the Tax Cuts and Jobs Act ("the Tax Act") enacted in December 2017. The guidance is effective for annual and interim reporting periods beginning after December 15, 2018, with early adoption permitted. We elected to early adopt the new guidance during the first quarter of 2018, which resulted in the reclassification of the income tax effect of the Tax Act from AOCI to retained earnings in order to reflect the tax effects of items within AOCI at the appropriate tax rate. As a result, we reclassified approximately $10 million as an increase in retained earnings and a reduction to AOCI as of January 1, 2018. Our policy is to release income tax effects from AOCI based on the tax effects of amounts reclassified from AOCI to pre-tax income (loss) from continuing operations. Any remaining tax effect in AOCI is released following a portfolio approach. Definition of a Business. As of January 1, 2018, we prospectively adopted the ASU clarifying the definition of a business for determining whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Upon adoption, the standard impacts how we assess acquisitions (or disposals) of assets or businesses. Recent Accounting Policies Not Yet Adopted Leases. In February 2016, the FASB issued new guidance related to accounting and reporting guidelines for leasing arrangements. The new guidance requires entities that lease assets to recognize assets and liabilities on the balance sheet related to the rights and obligations created by those leases regardless of whether they are classified as finance or operating leases. Consistent with current guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease primarily will depend on its classification as a finance or operating lease. The guidance also requires new disclosures to help financial statement users better understand the amount, timing and uncertainty of cash flows arising from leases. This guidance is effective for annual and interim reporting periods beginning after December 15, 2018. Early adoption is permitted and should be applied using a modified retrospective approach. We are in the process of evaluating the impact of adopting this new guidance, including implementing changes to our systems and processes in conjunction with our review of existing lease agreements. We currently expect the most significant impact of this new standard will be the recognition of the right-of-use assets and operating lease liabilities on our consolidated balance sheet upon adoption as well as the related financial statement disclosures. Hedge Accounting. In August 2017, the FASB amended the existing accounting guidance for hedge accounting. The amendments require expanded hedge accounting for both non-financial and financial risk components and refine the measurement of hedge results to better reflect an entity's hedging strategies. The new guidance also amends the presentation and disclosure requirements and changes how entities assess hedge effectiveness. The new guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018 with early adoption permitted. The new guidance must be adopted using a modified retrospective transition with a cumulative effect adjustment recorded to opening retained earnings as of the initial adoption date. We are in the process of evaluating the impact of adopting this new guidance on our consolidated financial statements. Measurement of Credit Losses on Financial Instruments. In June 2016, the FASB issued new guidance on the measurement of credit losses for financial assets measured at amortized cost, which includes accounts receivable, and available-for-sale debt securities. The new guidance replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. This update is effective for annual periods beginning after December 15, 2019, including interim periods within those annual periods. Early adoption is permitted for annual periods beginning after December 15, 2018, including interim periods within those annual periods. We are in the process of evaluating the impact of adopting this new guidance on our consolidated financial statements. Significant Accounting Policies Below are the significant accounting policies updated during 2018 as a result of the recently adopted accounting policies noted above. For a comprehensive description of our accounting policies, refer to our Annual Report on Form 10-K for the year ended December 31, 2017. Revenue Recognition We recognize revenue upon transfer of control of our promised products or services in an amount that reflects the consideration we expect to be entitled to in exchange for those products or services. For our primary transaction-based revenue sources, discussed below, we have determined net presentation (that is, the amount billed to a traveler less the amount paid to a supplier) is appropriate for the majority of our revenue transactions as the supplier is primarily responsible for providing the underlying travel services and we do not control the service provided by the supplier prior to its transfer to the traveler. The following table disaggregates our revenue by major source: Three months ended March 31, 2018 (in millions) Business Model: Merchant $ 1,334 Agency 658 Advertising and media 282 HomeAway 234 Total revenue $ 2,508 Product and Service Type: Lodging $ 1,612 Air 242 Advertising and media 282 Other (1) 372 Total revenue $ 2,508 ___________________________________ (1) Other includes car rental, insurance, destination services, cruise and fee revenue related to our corporate travel business, among other revenue streams, none of which are individually material. We offer traditional travel products and services on a stand-alone and package basis generally either through the merchant or the agency business model. Under the merchant model, we facilitate the booking of hotel rooms, airline seats, car rentals and destination services from our travel suppliers and we are the merchant of record for such bookings. Under the agency model, we act as the agent in the transaction, passing reservations booked by the traveler to the relevant travel supplier. We receive commissions or ticketing fees from the travel supplier and/or traveler. For certain agency airline, hotel and car transactions, we also receive fees through global distribution systems (“GDS”) that provide the computer systems through which the travel supplier inventory is made available and through which reservations are booked. Under the advertising model, we offer travel and non-travel advertisers access to a potential source of incremental traffic and transactions through our various media and advertising offerings on trivago and our transaction-based websites. Our HomeAway business facilitates vacation rental bookings and provides listing and other ancillary services to property owners and managers. The nature of our travel booking service performance obligations vary based on the travel service with differences primarily related to the degree to which Expedia provides post booking services to the traveler and the timing when rights and obligations are triggered in our underlying supplier agreements. We consider both the traveler and travel supplier as our customers. Lodging. Our lodging revenue is comprised of revenue recognized under the merchant, agency and HomeAway business models. Merchant Hotel. We provide travelers access to book hotel room reservations through our contracts with lodging suppliers, which provide us with rates and availability information for rooms but for which we have no control over the rooms and do not bear inventory risk. Our travelers pay us for merchant hotel transactions prior to departing on their trip, generally when they book the reservation. We record the payment in deferred merchant bookings until the stayed night occurs, at which point we recognize the revenue, net of amounts paid to suppliers, as this is when our performance obligation is satisfied. In certain nonrefundable, nonchangeable transactions where we have no significant post booking services (primarily opaque hotel offerings), we record revenue when the traveler completes the transaction on our website, less a reserve for chargebacks and cancellations based on historical experience. Payments to suppliers are generally due within 30 days of check-in or stay. In certain instances when a supplier invoices us for less than the cost we accrued, we generally reduce our accrued supplier payable and the supplier costs within net revenue six months in arrears, net of an allowance, when we determine it is not probable that we will be required to pay the supplier, based on historical experience. Cancellation fees are collected and remitted to the supplier, if applicable. Agency Hotel. We generally record agency revenue from the hotel when the stayed night occurs as we provide post booking services to the traveler and, thus consider the stay as when our performance obligation is satisfied. We record an allowance for cancellations on this revenue based on historical experience. HomeAway. HomeAway’s lodging revenue is generally earned on a pay-per-booking or pay-per-subscription basis. Pay-per-booking arrangements are commission-based where rental property owners and managers bear the inventory risk, have latitude in setting the price and compensate HomeAway for facilitating bookings with travelers. Under pay-per booking arrangements, each booking is a separate contract as listings are typically cancelable at any time and the related revenue, net of amounts paid to property owners, is recognized at check in, which is the point in time when our service to the traveler is complete. In pay-per-subscription contracts, property owners or managers purchase in advance online advertising services related to the listing of their properties for rent over a fixed term (typically one year). As the performance obligation is the listing service and is provided to the property owner or manager over the life of the listing period, the pay-per-subscription revenue is recognized on a straight-line basis over the listing period. HomeAway also charges a traveler service fee at the time of booking. The service fee charged to travelers covers HomeAway’s services, including but not limited to the use of HomeAway's website and a “Book with Confidence Guarantee” providing travelers with comprehensive payment protection and 24/7 traveler support. The performance obligation is to facilitate the booking of a property and assist travelers through their check in process and, as such, the traveler service fee revenue is recognized at check-in. Revenue from other ancillary vacation rental services or products are recorded either upon delivery or when we provide the service. Merchant and Agency Air. We record revenue on air transactions when the traveler books the transaction, as we do not provide significant post booking services to the traveler and payments due to and from air carriers are typically due at the time of ticketing. We record a reserve for chargebacks and cancellations at the time of the transaction based on historical experience. In certain transactions, the GDS collects commissions from our suppliers and passes these commissions to us, net of their fees. Therefore, we view payments through the GDS as commissions from suppliers and record these commissions in net revenue. Fees paid to the GDS as compensation for their role in processing transactions are recorded as cost of revenue. Advertising and Media . We record revenue from click-through fees charged to our travel partners for leads sent to the travel partners’ websites. We record revenue from click-through fees after the traveler makes the click-through to the related travel partners’ websites. We record revenue for advertising placements ratably over the advertising period or upon delivery of advertising impressions, depending on the terms of the contract. Payments from advertisers are generally due within 30 days of invoicing. Other. Other primarily includes transaction revenue for booking services related to products such as car, cruise and destination services under the agency business model. We generally record the related revenue when the travel occurs, as in most cases we provide post booking services and this is when our performance obligation is complete. Additionally, no rights or obligations are triggered in our supplier agreements until the travel occurs. We record an allowance for cancellations on this revenue based on historical experience. In addition, other also includes travel insurance products primarily under the merchant model, for which revenue is recorded at the time the transaction is booked. Packages. Packages assembled by travelers through the packaging functionality on our websites generally include a merchant hotel component and some combination of an air, car or destination services component. The individual package components are accounted for as separate performance obligations and recognized in accordance with our revenue recognition policies stated above. As described in Note 9 – Segment Information , our reportable segments are Core Online Travel Agencies (“Core OTA”), trivago, HomeAway and Egencia. Our Core OTA segment generates revenue from the merchant, agency and advertising and media business models as well as all product and service types. trivago segment revenue is primarily generated through advertising and media. All HomeAway revenue is within the lodging product and service type. Our Egencia segment generates revenue from similar business models and product and service types to Core OTA applied to the corporate traveler with the majority being agency revenue. Deferred Merchant Bookings. We classify cash payments received in advance of our performance obligations as deferred merchant bookings. At January 1, 2018, $3.219 billion of cash advance cash payments was reported within deferred merchant bookings, $2.151 billion of which was recognized resulting in $314 million of revenue during the quarter ended March 31, 2018. At March 31, 2018, the related balance was $5.217 billion . Travelers enrolled in our internally administered traveler loyalty rewards programs earn points for each eligible booking made which can be redeemed for free or discounted future bookings. Hotels.com Rewards offers travelers one free night at any Hotels.com partner property after that traveler stays 10 nights, subject to certain restrictions. Expedia Rewards enables participating travelers to earn points on all hotel, flight, package and activities made on over 30 Brand Expedia websites. Orbitz Rewards allows travelers to earn Orbucks SM , the currency of Orbitz Rewards, on flights, hotels and vacation packages and instantly redeem those Orbucks on future bookings at various hotels worldwide. As travelers accumulate points towards free travel products, we defer the relative standalone selling price of earned points, net of expected breakage, as deferred loyalty rewards within deferred merchant bookings on the consolidated balance sheet. In order to estimate the standalone selling price for all loyalty programs, we use an adjusted market assessment approach and consider the redemption values expected from the traveler. We then estimate the number of rewards that will not be redeemed based on historical activity in our members' accounts as well as statistical modeling techniques. Revenue is recognized when we have satisfied our performance obligation relating to the points, that is when the travel service purchased with the loyalty award is satisfied. The majority of rewards expected to be redeemed are recognized within one to two years of being earned. At January 1, 2018, $619 million of deferred loyalty rewards was reported within deferred merchant bookings, $148 million of which was recognized as revenue during the quarter ended March 31, 2018. At March 31, 2018, the related balance was $649 million . Deferred Revenue. Deferred revenue primarily consists of HomeAway's traveler service fees received on bookings where we are not merchant of record due to the use of a third party payment processor, unearned subscription revenue as well as deferred advertising revenue. At January 1, 2018, $326 million was recorded as deferred revenue, $152 million of which was recognized as revenue during the quarter ended March 31, 2018. At March 31, 2018, the related balance was $469 million . Practical Expedients and Exemptions. We have used the portfolio approach to account for our loyalty points as the rewards programs share similar characteristics within each program in relation to the value provided to the traveler and their breakage patterns. Using this portfolio approach is not expected to differ materially from applying the guidance to individual contracts. However, we will continue to assess and refine, if necessary, how a portfolio within each awards program is defined. We do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed. Restricted Cash and Cash Equivalents Restricted cash includes cash and cash equivalents that is restricted through legal contracts, regulations or our intention to use the cash for a specific purpose. Our restricted cash primarily relates to certain traveler deposits and to a lesser extent collateral for office leases. The following table reconciles cash, cash equivalents and restricted cash reported in our consolidated balance sheets to the total amount presented in our consolidated statements of cash flows: March 31, December 31, (in millions) Cash and cash equivalents $ 3,423 $ 2,847 Restricted cash and cash equivalents 219 69 Restricted cash included within long-term investments and other assets 4 1 Total cash, cash equivalents and restricted cash and cash equivalents in the consolidated statement of cash flow $ 3,646 $ 2,917

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2018 are classified using the fair value hierarchy in the table below: Total Level 1 Level 2 (In millions) Assets Cash equivalents: Money market funds $ 11 $ 11 $ — Time deposits 1,210 — 1,210 Derivatives: Foreign currency forward contracts 13 — 13 Investments: Time deposits 1,031 — 1,031 Marketable equity securities 300 300 — Total assets $ 2,565 $ 311 $ 2,254 Financial assets measured at fair value on a recurring basis as of December 31, 2017 are classified using the fair value hierarchy in the table below: Total Level 1 Level 2 (In millions) Assets Cash equivalents: Money market funds $ 16 $ 16 $ — Time deposits 552 — 552 Derivatives: Foreign currency forward contracts 6 — 6 Investments: Time deposits 469 — 469 Marketable equity securities 263 263 — Total assets $ 1,306 $ 279 $ 1,027 We classify our cash equivalents and investments within Level 1 and Level 2 as we value our cash equivalents and investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs. Valuation of the foreign currency forward contracts is based on foreign currency exchange rates in active markets, a Level 2 input. As of March 31, 2018 and December 31, 2017 , our cash and cash equivalents consisted primarily of prime institutional money market funds with maturities of three months or less, time deposits as well as bank account balances. We also hold time deposit investments with financial institutions. Time deposits with original maturities of less than three months are classified as cash equivalents and those with remaining maturities of less than one year are classified within short-term investments. Our marketable equity securities consist of our investment in Despegar, a publicly traded company, which is included in long-term investments and other assets in our consolidated balance sheets. During the first quarter of 2018, we recognized a gain of approximately $36 million within other, net in our consolidated statements of operations related to the fair value changes of this equity investment. As of December 31, 2017 , prior to our adoption of the new guidance for recognition and measurement of financial instruments, the cost basis was $273 million and related gross unrealized loss was $9 million . Derivative instruments are carried at fair value on our consolidated balance sheets. We use foreign currency forward contracts to economically hedge certain merchant revenue exposures, foreign denominated liabilities related to certain of our loyalty programs and our other foreign currency-denominated operating liabilities. Our goal in managing our foreign exchange risk is to reduce, to the extent practicable, our potential exposure to the changes that exchange rates might have on our earnings, cash flows and financial position. Our foreign currency forward contracts are typically short-term and, as they do not qualify for hedge accounting treatment, we classify the changes in their fair value in other, net. As of March 31, 2018 , we were party to outstanding forward contracts hedging our liability and revenue exposures with a total net notional value of $3.4 billion . We had a net forward asset of $13 million and $6 million recorded in prepaid expenses and other current assets as of March 31, 2018 and December 31, 2017 . We recorded $14 million and $(4) million in net gains (losses) from foreign currency forward contracts during the three months ended March 31, 2018 and 2017 . Assets Measured at Fair Value on a Non-recurring Basis Our non-financial assets, such as goodwill, intangible assets and property and equipment, as well as equity method investments, are adjusted to fair value when an impairment charge is recognized or the underlying investment is sold. Such fair value measurements are based predominately on Level 3 inputs. We measure our minority investments that do not have readily determinable fair values at cost less impairment, adjusted by observable price changes with changes recorded within other, net on our consolidated statements of operations. Minority Investments without Readily Determinable Fair Values. As of March 31, 2018 and December 31, 2017 , the carrying values of our minority investments without readily determinable fair values totaled $374 million and $371 million . During the three months ended March 31, 2018, we had no material gains or losses recognized related to these minority investments.

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	Note 4 – Debt The following table sets forth our outstanding debt: March 31, December 31, (In millions) 7.456% senior notes due 2018 $ 500 $ 500 5.95% senior notes due 2020 748 748 2.5% (€650 million) senior notes due 2022 796 775 4.5% senior notes due 2024 495 495 5.0% senior notes due 2026 742 741 3.8% senior notes due 2028 990 990 Total debt (1) 4,271 4,249 Current maturities of long-term debt (500 ) (500 ) Long-term debt, excluding current maturities $ 3,771 $ 3,749 ___________________________________ (1) Net of applicable discounts and debt issuance costs. Long-term Debt Our $500 million in registered senior unsecured notes outstanding at March 31, 2018 are due in August 2018 and bear interest at 7.456% (the “ 7.456% Notes”). Interest is payable semi-annually in February and August of each year. At any time Expedia may redeem the 7.456% Notes at a redemption price of 100% of the principal plus accrued interest, plus a “make-whole” premium, in whole or in part. Our $750 million in registered senior unsecured notes outstanding at March 31, 2018 are due in August 2020 and bear interest at 5.95% (the “ 5.95% Notes”). The 5.95% Notes were issued at 99.893% of par resulting in a discount, which is being amortized over their life. Interest is payable semi-annually in February and August of each year. We may redeem the 5.95% Notes at a redemption price of 100% of the principal plus accrued interest, plus a “make-whole” premium, in whole or in part. Our Euro 650 million in registered senior unsecured notes outstanding at March 31, 2018 are due in June 2022 and bear interest at 2.5% (the “ 2.5% Notes”). The 2.5% Notes were issued at 99.525% of par resulting in a discount, which is being amortized over their life. Interest is payable annually in arrears in June of each year. We may redeem the 2.5% Notes at our option, at whole or in part, at any time or from time to time. If we elect to redeem the 2.5% Notes prior to March 3, 2022, we may redeem them at a specified “make-whole” premium. If we elect to redeem the 2.5% Notes on or after March 3, 2022, we may redeem them at a redemption price of 100% of the principal plus accrued and unpaid interest. Subject to certain limited exceptions, all payments of interest and principal for the 2.5% Notes will be made in Euros. The aggregate principal value of the 2.5% Notes is designated as a hedge of our net investment in certain Euro functional currency subsidiaries. The notes are measured at Euro to U.S. Dollar exchange rates at each balance sheet date and transaction gains or losses due to changes in rates are recorded in AOCI. The Euro-denominated net assets of these subsidiaries are translated into U.S. Dollars at each balance sheet date, with effects of foreign currency changes also reported in AOCI. Since the notional amount of the recorded Euro-denominated debt is less than the notional amount of our net investment, we do not expect to incur any ineffectiveness on this hedge. Our $500 million in registered senior unsecured notes outstanding at March 31, 2018 are due in August 2024 and bear interest at 4.5% (the “ 4.5% Notes”). The 4.5% Notes were issued at 99.444% of par resulting in a discount, which is being amortized over their life. Interest is payable semi-annually in February and August of each year. We may redeem the 4.5% Notes at our option at any time in whole or from time to time in part. If we elect to redeem the 4.5% Notes prior to May 15, 2024, we may redeem them at a redemption price of 100% of the principal plus accrued interest, plus a “make-whole” premium. If we elect to redeem the 4.5% Notes on or after May 15, 2024, we may redeem them at a redemption price of 100% of the principal plus accrued interest. Our $750 million in registered senior unsecured notes outstanding at March 31, 2018 are due in February 2026 and bear interest at 5.0% (the “ 5.0% Notes”). The 5.0% Notes were issued at 99.535% of par resulting in a discount, which is being amortized over their life. Interest is payable semi-annually in arrears in February and August of each year. We may redeem the 5.0% Notes at our option at any time in whole or from time to time in part. If we elect to redeem the 5.0% Notes prior to November 12, 2025, we may redeem them at a redemption price of 100% of the principal plus accrued interest, plus a “make-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. Our $1 billion in registered senior unsecured notes outstanding at March 31, 2018 are due in February 2028 and bear interest at 3.8% (the "3.8% Notes"). The 3.8% Notes were issued at 99.747% of par resulting in a discount, which is being amortized over their life. Interest is payable semi-annually in arrears in February and August of each year, beginning February 15, 2018. We may redeem the 3.8% Notes at our option at any time in whole or from time to time in part. If we elect to redeem the 3.8% Notes prior to November 15, 2027, we may redeem them at a redemption price of 100% of the principal plus accrued interest, plus a “make-whole” premium. If we elect to redeem the 3.8% Notes on or after November 15, 2027, we may redeem them at a redemption price of 100% of the principal plus accrued interest. The 7.456% , 5.95% , 2.5% , 4.5% , 5.0% and 3.8% Notes (collectively the “Notes”) are senior unsecured obligations issued by Expedia Group and guaranteed by certain domestic Expedia Group subsidiaries. The Notes rank equally in right of payment with all of our existing and future unsecured and unsubordinated obligations of Expedia Group and the guarantor subsidiaries. For further information, see Note 10 – Guarantor and Non-Guarantor Supplemental Financial Information . In addition, the Notes include covenants that limit our ability to (i) create certain liens, (ii) enter into sale/leaseback transactions and (iii) merge or consolidate with or into another entity or transfer substantially all of our assets. Accrued interest related to the Notes was $39 million and $75 million as of March 31, 2018 and December 31, 2017 . The 5.95% , 2.5% , 4.5% , 5.0% and 3.8% Notes are redeemable in whole or in part, at the option of the holders thereof, upon the occurrence of certain change of control triggering events at a purchase price in cash equal to 101% of the principal plus accrued and unpaid interest. The following table sets forth the approximate fair value of our outstanding debt, which is based on quoted market prices in less active markets (Level 2 inputs): March 31, December 31, (In millions) 7.456% senior notes due 2018 $ 509 $ 516 5.95% senior notes due 2020 795 810 2.5% (€650 million) senior notes due 2022 (1) 843 828 4.5% senior notes due 2024 507 528 5.0% senior notes due 2026 775 807 3.8% senior notes due 2028 933 969 (1) Approximately 684 million Euro as of March 31, 2018 and 690 million Euro as of December 31, 2017 . Credit Facility Expedia Group, Inc. maintains a $1.5 billion unsecured revolving credit facility with a group of lenders, which is unconditionally guaranteed by certain domestic Expedia Group subsidiaries that are the same as under the Notes and expires in February 2021. As of March 31, 2018 and December 31, 2017 , we had no revolving credit facility borrowings outstanding. The facility bears interest based on the Company’s credit ratings, with drawn amounts bearing interest at LIBOR plus 137.5 basis points and the commitment fee on undrawn amounts at 17.5 basis points as of March 31, 2018 . The facility contains covenants including maximum leverage and minimum interest coverage ratios. The amount of stand-by letters of credit (“LOC”) issued under the facility reduces the credit amount available. As of March 31, 2018 and December 31, 2017 , there were $15 million and $14 million of outstanding stand-by LOCs issued under the facility. In addition, one of our international subsidiaries maintains a Euro 50 million uncommitted credit facility, which is guaranteed by Expedia Group, that may be terminated at any time by the lender. As of March 31, 2018 and December 31, 2017 , there were no borrowings outstanding.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Stockholders' Equity	Note 5 – Stockholders’ Equity Dividends on our Common Stock The Executive Committee, acting on behalf of the Board of Directors, declared the following dividends during the periods presented: Declaration Date Dividend Per Share Record Date Total Amount (in millions) Payment Date February 7, 2018 $ 0.30 March 8, 2018 $ 46 March 28, 2018 February 7, 2017 0.28 March 9, 2017 42 March 30, 2017 In addition, in April 2018, the Executive Committee, acting on behalf of the Board of Directors, declared a quarterly cash dividend of $0.30 per share of outstanding common stock payable on June 14, 2018 to stockholders of record as of the close of business on May 24, 2018 . Future declarations of dividends are subject to final determination by our Board of Directors. Share Repurchases In February 2015, the Executive Committee, acting on behalf of the Board of Directors, authorized a repurchase of up to 10 million shares of our common stock. During the three months ended March 31, 2018 , we repurchased, through open market transactions, 1.8 million shares under the 2015 authorization for the total cost of $191 million , excluding transaction costs, representing an average repurchase price of $106.80 per share. As of March 31, 2018 , there were approximately 3.2 million remaining under the 2015 repurchase authorization. Subsequent to the end of the first quarter of 2018, we repurchased an additional 0.7 million shares for a total cost of $77 million , excluding transaction costs, representing an average purchase price of $107.98 per share. On April 26, 2018, we announced the Executive Committee, acting on behalf of the Board of Directors, authorized a repurchase of up to an additional 15 million shares of our common stock and as of that date 17.4 million shares remain authorized for repurchase under the 2015 and 2018 authorizations. There is no fixed termination date for the repurchases. Stock-based Awards Stock-based compensation expense relates primarily to expense for stock options and restricted stock units (“RSUs”). As of March 31, 2018, we had stock-based awards outstanding representing approximately 23 million shares of our common stock, consisting of options to purchase approximately 20 million shares of our common stock with a weighted average exercise price of $98.64 and weighted average remaining life of 4.9 years and approximately 3 million RSUs. Annual employee stock-based award grants typically occur during the first quarter of each year and generally vest over four years. Our equity choice program for annual awards allows for the choice of stock options or RSUs with certain limitations. During the three months ended March 31, 2018, we granted approximately 5 million stock options and 1 million RSUs. The fair value of the stock options granted during the three months ended March 31, 2018 was estimated at the date of grant using appropriate valuation techniques, including the Black-Scholes and Monte Carlo option-pricing models. Accumulated Other Comprehensive Loss The balance for each class of accumulated other comprehensive loss as of March 31, 2018 and December 31, 2017 is as follows: March 31, December 31, (In millions) Foreign currency translation adjustments, net of tax (1) $ (125 ) $ (142 ) Net unrealized loss on available for sale securities, net of tax (2) — (7 ) Accumulated other comprehensive loss $ (125 ) $ (149 ) (1) Foreign currency translation adjustments, net of tax, include foreign currency transaction losses at March 31, 2018 of $71 million ( $92 million before tax) and $45 million ( $71 million before tax) at December 31, 2017 associated with our 2.5% Notes. The 2.5% Notes are Euro-denominated debt designated as hedges of certain of our Euro-denominated net assets. See Note 4 – Debt for more information. (2) The net unrealized loss on available for sale securities before tax at December 31, 2017 was $9 million , which was reclassified to retained earnings as of January 1, 2018 upon adoption of the relevant new accounting guidance.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Note 6 – Earnings Per Share Basic earnings per share is calculated using our weighted-average outstanding common shares. The earnings per share amounts are the same for common stock and Class B common stock because the holders of each class are legally entitled to equal per share distributions whether through dividends or in liquidation. Diluted earnings per share is calculated using our weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method. In periods when we recognize a net loss, we exclude the impact of outstanding stock awards from the diluted loss per share calculation as their inclusion would have an antidilutive effect. For both of the three months ended March 31, 2018 and March 31, 2017 , approximately 23 million of outstanding stock awards have been excluded from the calculations of diluted earnings per share attributable to common stockholders because their effect would have been antidilutive.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Note 7 – Income Taxes Tax Act was enacted in December 2017. The Tax Act significantly changed U.S. tax law by, among other things, lowering U.S. corporate income tax rate from 35% to 21%, implementing a territorial tax system and imposing a one-time transition tax on deemed repatriated earnings of foreign subsidiaries. The SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”), which was subsequently codified in March 2018, to address the application of U.S. GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Tax Act and allows the registrant to record provisional amounts during a measurement period not to extend beyond one year of the enactment date. In the prior year, we recognized a net tax benefit of $14 million for the provisional tax impacts related to the one-time transition tax and the revaluation of deferred tax balances and included these estimates in our consolidated financial statements for the year ended December 31, 2017. We are still in the process of analyzing the impact of the various provisions of the Tax Act. The ultimate impact may materially differ from these provisional amounts due to, among other things, additional analysis, changes in interpretations and assumptions we have made, additional regulatory guidance that may be issued, and actions we may take as a result of the Tax Act. We expect to complete our analysis within the measurement period in accordance with SAB 118. While the Tax Act provides for a modified territorial tax system, beginning in 2018, global intangible low-taxed income (“GILTI”) provisions will be applied providing an incremental tax on low taxed foreign income. The GILTI provisions require us to include in our U.S. income tax return foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary’s tangible assets. Under U.S. GAAP, we are required to make an accounting policy election to either (1) treat taxes due related to GILTI as a current-period expense when incurred (the “period cost method”) or (2) factor such amounts into our measurement of our deferred taxes (the “deferred method”). We are continuing to evaluate the GILTI tax rules and have not yet adopted our policy to account for the related impacts. We determine our provision for income taxes for interim periods using an estimate of our annual effective tax rate. We record any changes affecting the estimated annual effective tax rate in the interim period in which the change occurs, including discrete tax items. For the three months ended March 31, 2018 , the effective tax rate was 12.0% , compared to a 35.6% for the three months ended March 31, 2017 with the decline primarily driven by the Tax Act and a decrease in excess tax benefits for stock compensation. We are subject to taxation in the United States and various other state and foreign jurisdictions. We are under examination by the Internal Revenue Service ("IRS") for our 2009 through 2013 tax years. Subsequent years remain open to examination by the IRS. We do not anticipate a significant impact to our gross unrecognized tax benefits within the next 12 months related to these years. During first quarter of 2017, the IRS issued proposed adjustments related to transfer pricing with our foreign subsidiaries for our 2009 to 2010 audit cycle. The proposed adjustments would increase our U.S. taxable income by $105 million , which would result in federal tax expense of approximately $37 million , subject to interest. We do not agree with the proposed adjustments and are formally protesting the IRS position.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8 – Commitments and Contingencies Legal Proceedings In the ordinary course of business, we are a party to various lawsuits. Management does not expect these lawsuits to have a material impact on the liquidity, results of operations, or financial condition of Expedia Group. We also evaluate other potential contingent matters, including value-added tax, excise tax, sales tax, transient occupancy or accommodation tax and similar matters. We do not believe that the aggregate amount of liability that could be reasonably possible with respect to these matters would have a material adverse effect on our financial results; however, litigation is inherently uncertain and the actual losses incurred in the event that our legal proceedings were to result in unfavorable outcomes could have a material adverse effect on our business and financial performance. Litigation Relating to Occupancy Taxes. Ninety-six lawsuits have been filed by or against cities, counties and states involving hotel occupancy and other taxes. Fifteen lawsuits are currently active. These lawsuits are in various stages and we continue to defend against the claims made in them vigorously. With respect to the principal claims in these matters, we believe that the statutes or ordinances at issue do not apply to the services we provide and, therefore, that we do not owe the taxes that are claimed to be owed. We believe that the statutes or ordinances at issue generally impose occupancy and other taxes on entities that own, operate or control hotels (or similar businesses) or furnish or provide hotel rooms or similar accommodations. To date, forty-two of these lawsuits have been dismissed. Some of these dismissals have been without prejudice and, generally, allow the governmental entity or entities to seek administrative remedies prior to pursuing further litigation. Twenty-eight dismissals were based on a finding that we and the other defendants were not subject to the local hotel occupancy tax ordinance or that the local government lacked standing to pursue their claims. As a result of this litigation and other attempts by certain jurisdictions to levy such taxes, we have established a reserve for the potential settlement of issues related to hotel occupancy and other taxes, consistent with applicable accounting principles and in light of all current facts and circumstances, in the amount of $45 million and $43 million as of March 31, 2018 and December 31, 2017 . It is also reasonably possible that amounts paid in connection with these issues could include up to an additional $57 million related to tax, interest and penalties in one jurisdiction. Our settlement reserve is based on our best estimate of probable losses and the ultimate resolution of these contingencies may be greater or less than the liabilities recorded. An estimate for a reasonably possible loss or range of loss in excess of the amount reserved or disclosed cannot be made. Changes to the settlement reserve are included within legal reserves, occupancy tax and other in the consolidated statements of operations. In addition, we have been audited by the state of Colorado. The state has issued assessments for claimed tax, interest and penalty in the approximate amount of $23 million for the periods December 1, 1999 through December 31, 2005 and January 1, 2009 through December 31, 2011. We do not agree with these assessments and have filed protests. Pay-to-Play. Certain jurisdictions may assert that we are required to pay any assessed taxes prior to being allowed to contest or litigate the applicability of the ordinances. This prepayment of contested taxes is referred to as “pay-to-play.” Payment of these amounts is not an admission that we believe we are subject to such taxes and, even when such payments are made, we continue to defend our position vigorously. If we prevail in the litigation, for which a pay-to-play payment was made, the jurisdiction collecting the payment will be required to repay such amounts and also may be required to pay interest. Hawaii (General Excise Tax). During 2013, the Expedia Group companies were required to “pay-to-play” and paid a total of $171 million in advance of litigation relating to general excise taxes for merchant model hotel reservations in the State of Hawaii. In September 2015, following a ruling by the Hawaii Supreme Court, the State of Hawaii refunded the Expedia Group companies $132 million of the original “pay-to-play” amount. Orbitz also received a similar refund of $22 million from the State of Hawaii in September 2015. The amount paid, net of refunds, by the Expedia Group companies and Orbitz to the State of Hawaii in satisfaction of past general excise taxes on their services for merchant model hotel reservations was $44 million . The parties reached a settlement relating to Orbitz merchant model hotel tax liabilities, and on October 5, 2016, the Expedia Group companies paid the State of Hawaii for the tax years 2012 through 2015. The Expedia Group companies and Orbitz have now resolved all assessments by the State of Hawaii for merchant model hotel taxes through 2015. The Department of Taxation also issued final assessments for general excise taxes against the Expedia Group companies, including Orbitz, dated December 23, 2015 for the time period 2000 to 2014 for hotel and car rental revenue for “agency model” transactions. Those assessments are currently under review in the Hawaii tax courts. The Hawaii tax court has scheduled trial on the agency hotel and car rental matters for February 4, 2019. On December 29, 2017, the defendant online travel companies filed a motion for partial summary judgment. On January 10, 2018, the Department of Taxation asked the tax court to stay proceedings in the agency hotel and car rental case pending a decision by the Hawaii Supreme Court in the merchant model car rental case addressed below. The defendants have opposed that request. On February 5, 2018, the tax court granted the motion to stay. Final assessments by the Hawaii Department of Taxation for general exercise taxes against the Expedia Group companies, including Orbitz, relating to merchant car rental transactions during the years 2000 to 2014 are also under review in the Hawaii tax courts. With respect to merchant model car rental transactions at issue for the tax years 2000 through 2013, the Hawaii tax court held on August 5, 2016 that general excise tax is due on the online travel companies’ services to facilitate car rentals. The court further ruled that for merchant model car rentals in Hawaii, the online travel companies are required to pay general excise tax on the total amount paid by consumers, with no credit for tax amounts already remitted by car rental companies to the State of Hawaii for tax years 2000 through 2013, thus resulting in a double tax on the amount paid by consumers to car rental companies for the rental of the vehicle. The court, however, ruled that when car rentals are paid for as part of a vacation package, tax is only due once on the amount paid by consumers to the car rental company for the rental of the vehicle. In addition, the court ruled that the online travel companies are required to pay interest and certain penalties on the amounts due. On April 25, 2017, the court entered a stipulated order and final judgment. On May 15, 2017, the Expedia Group companies paid under protest the full amount claimed due, or approximately $16.7 million , as a condition of appeal. The parties filed notices of cross-appeal from the order. The appeals were transferred to the Hawaii Supreme Court, which heard argument on the appeals on April 5, 2018. The parties await a ruling. The Hawaii tax court’s decision did not resolve merchant car rental transactions for the tax year 2014, which also remain under review. San Francisco (Occupancy Tax) . During 2009, Expedia Group companies were required to “pay-to-play” and paid $48 million in advance of litigation relating to occupancy tax proceedings with the city of San Francisco and, in May 2014, the Expedia Group companies paid an additional $25.5 million under protest in order to contest additional assessments for later time periods. In addition, Orbitz in total has paid $4.6 million to the city of San Francisco to contest similar assessments issued against it by the city. On August 6, 2014, the California Court of Appeals stayed this case pending review and decision by the California Supreme Court of the City of San Diego, California Litigation. The California Court of Appeals has lifted the stay for this case and the appeal is proceeding. Other Jurisdictions. We are also in various stages of inquiry or audit with domestic and foreign tax authorities, some of which, including in the United Kingdom, regarding the application of value added tax (“VAT”) to our European Union related transactions as discussed below, impose a pay-to-play requirement to challenge an adverse inquiry or audit result in court. The ultimate resolution of these contingencies may be greater or less than the pay-to-play payments made and our estimates of additional assessments mentioned above. Matters Relating to International VAT . We are in various stages of inquiry or audit in multiple European Union jurisdictions, including in the United Kingdom, regarding the application of VAT to our European Union related transactions. While we believe we comply with applicable VAT laws, rules and regulations in the relevant jurisdictions, the tax authorities may determine that we owe additional taxes. In certain jurisdictions, including in the United Kingdom, we may be required to “pay-to-play” any VAT assessment prior to contesting its validity. While we believe that we will be successful based on the merits of our positions with regard to the United Kingdom and other VAT audits in pay-to-play jurisdictions, it is nevertheless reasonably possible that we could be required to pay any assessed amounts in order to contest or litigate the applicability of any assessments and an estimate for a reasonably possible amount of any such payments cannot be made. Competition and Consumer Matters. Over the last several years, the online travel industry has become the subject of investigations by various national competition authorities ("NCAs"), particularly in Europe. Expedia Group is or has been involved in investigations predominately related to whether certain parity clauses in contracts between Expedia Group entities and accommodation providers, sometimes also referred to as "most favored nation" or "MFN" provisions, are anti-competitive. In Europe, investigations or inquiries into contractual parity provisions between hotels and online travel companies, including Expedia Group, were initiated in 2012, 2013 and 2014 by NCAs in Austria, Belgium, Czech Republic, Denmark, France, Germany, Greece, Hungary, Ireland, Italy, Poland, Sweden and Switzerland. While the ultimate outcome of some of these investigations or inquiries remains uncertain, and Expedia Group’s circumstances are distinguishable from other online travel companies subject to similar investigations and inquiries, we note in this context that on April 21, 2015, the French, Italian and Swedish NCAs, working in close cooperation with the European Commission, announced that they accepted formal commitments offered by Booking.com to resolve and close the investigations against Booking.com in France, Italy and Sweden by Booking.com removing and/or modifying certain rate, conditions and availability parity provisions in its contracts with accommodation providers in France, Italy and Sweden as of July 1, 2015, among other commitments. Booking.com voluntarily extended the geographic scope of these commitments to accommodation providers throughout Europe as of the same date. With effect from August 1, 2015, certain Expedia Group entities waived certain rate, conditions and availability parity clauses in its agreements with its European hotel partners for a period of five years. While Expedia Group maintains that its parity clauses have always been lawful and in compliance with competition law, these waivers were nevertheless implemented as a positive step towards facilitating the closure of the open investigations into such clauses on a harmonized pan-European basis. Following the implementation of these waivers, nearly all NCAs in Europe have announced either the closure of their investigation or inquiries involving Expedia Group entities or a decision not to open an investigation or inquiry involving Expedia Group entities. Below are descriptions of additional rate parity-related matters of note in Europe. The German Federal Cartel Office ("FCO") has required another online travel company, Hotel Reservation Service ("HRS"), to remove certain clauses from its contracts with hotels. HRS’ appeal of this decision was rejected by the Higher Regional Court Düsseldorf on January 9, 2015. On December 23, 2015, the FCO announced that it had also required Booking.com by way of an infringement decision to remove certain clauses from its contracts with German hotels. Booking.com has appealed the decision and the appeal was heard by the Higher Regional Court Düsseldorf on February 8, 2017. Those proceedings remain ongoing. The Italian competition authority's case closure decision against Booking.com and certain Expedia Group entities has subsequently been appealed by two Italian hotel trade associations, i.e. Federalberghi and AICA. These appeals remain at an early stage and no hearing date has been fixed. On November 6, 2015, the Swiss competition authority announced that it had issued a final decision finding certain parity terms existing in previous versions of agreements between Swiss hotels and each of certain Expedia Group entities, Booking.com and HRS to be prohibited under Swiss law. The decision explicitly notes that current contract terms contained in the agreements between the Expedia Group entities and the Swiss hotels are not subject to this prohibition. The Swiss competition authority imposed no fines or other sanctions against the Expedia Group entities and did not find an abuse of a dominant market position by the Expedia Group entities. The FCO’s case against Expedia Group entities' contractual parity provisions with accommodation providers in Germany remains open but is still at a preliminary stage with no formal allegations of wrong-doing having been communicated to the Expedia Group entities to date. The Directorate General for Competition, Consumer Affairs and Repression of Fraud (the “DGCCRF”), a directorate of the French Ministry of Economy and Finance with authority over unfair trading practices, brought a lawsuit in France against Expedia Group entities objecting to certain parity clauses in contracts between Expedia Group entities and French hotels. In May 2015, the French court ruled that certain of the parity provisions in certain contracts that were the subject of the lawsuit were not in compliance with French commercial law, but imposed no fine and no injunction. The DGCCRF appealed the decision and, on June 21, 2017, the Paris Court of Appeal published a judgment overturning the decision. The court annulled parity clauses contained in the agreements at issue, ordered the Expedia Group entities to amend its contracts, and imposed a fine. The Expedia Group entities have appealed the decision. The appeal will not stay payment of the fine and we have recorded a related reserve. Hotelverband Deutschland (“IHA”) e.V. (a German hotel association) brought proceedings before the Cologne regional court against Expedia, Inc., Expedia.com GmbH and Expedia Lodging Partner Services Sàrl. IHA applied for a ‘cease and desist’ order against these companies in relation to the enforcement of certain rate and availability parity clauses contained in contracts with hotels in Germany. On or around February 16, 2017, the court dismissed IHA’s action and declared the claimant liable for the defendant Expedia Group entities' statutory costs. IHA appealed the decision and, on December 4, 2017, the Court of Appeals rejected IHA’s appeal. The Court of Appeals expressly confirmed that Expedia Group entities' MFNs are in compliance both with European and German competition law. While IHA had indicated an intention to appeal the decision to the Federal Supreme Court, it has not lodged an appeal within the applicable deadline, with the consequence that the Court of Appeals judgment has now become final. A working group of 10 European NCAs (Belgium, Czech Republic, Denmark, France, Hungary, Ireland, Italy, Netherlands, Sweden and the United Kingdom) and the European Commission has been established by the European Competition Network (“ECN”) at the end of 2015 to monitor the functioning of the online hotel booking sector, following amendments made by a number of online travel companies (including Booking.com and certain Expedia Group entities) in relation to certain parity provisions in their contracts with hotels. The working group issued questionnaires to online travel agencies including certain Expedia Group entities, metasearch sites and hotels in 2016. The underlying results of the ECN monitoring exercise were published on April 6, 2017. Legislative bodies in France (July 2015), Austria (December 2016) and Italy (August 2017) have also adopted new domestic anti-parity clause legislation. Expedia Group believes each of these pieces of legislation violates both EU and national legal principles and therefore, Expedia Group has challenged these laws at the European Commission. A motion requesting the Swiss government to take action on narrow price parity has been adopted in the Swiss parliament. Moreover, in Belgium, the government is also reviewing narrow parity provisions. The Company is unable to predict whether these proposals in their current form or in another form will ultimately be adopted and, if so, when this might be the case. It is not yet clear how any adopted domestic anti-parity clause legislations and/or any possible future legislation in this area may affect Expedia Group’s business. Outside of Europe, a number of NCAs have also opened investigations or inquired about contractual parity provisions in contracts between hotels and online travel companies in their respective territories, including Expedia Group. A Brazilian hotel sector association -- Forum de Operadores Hoteleiros do Brasil -- filed a complaint with the Brazilian Administrative Council for Economic Defence (“CADE”) against a number of online travel companies, including Booking.com, Decolar.com and Expedia Group, on July 27, 2016 with respect to parity provisions in contracts between hotels and online travel companies. On September 13, 2016, Expedia Group submitted its response to the complaint to CADE. In late 2016, Expedia Group resolved the concerns of the Australia and New Zealand NCAs based on implementation of the waivers substantially similar to those provided to accommodation providers in Europe (on September 1, 2016 in Australia and on October 28, 2016 in New Zealand). More recently, however, the Australian NCA reopened its investigation. Expedia Group is in ongoing discussions with a limited number of NCAs in other countries in relation to its contracts with hotels. Expedia Group is currently unable to predict the impact the implementation of the waivers both in Europe and elsewhere will have on Expedia Group's business, on investigations or inquiries by NCAs in other countries, or on industry practice more generally. In addition, regulatory authorities in Europe, Australia, and elsewhere recently initiated market studies, inquiries and investigations into online marketplaces and how information is presented to consumers using those marketplaces, investigating practices such as search results rankings and algorithms, discount claims , disclosure of charges, and availability and similar messaging. We are unable to predict the implications of these market studies, inquiries and investigations on Expedia Group’s business. Other than described above, we have not accrued a reserve in connection with the market studies, investigations, inquiries or legal proceedings described above either because the likelihood of an unfavorable outcome is not probable or the amount of any loss is not estimable.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information	Note 9 – Segment Information We have four reportable segments: Core OTA, trivago, HomeAway and Egencia. Our Core OTA segment, which consists of the aggregation of operating segments, provides a full range of travel and advertising services to our worldwide customers through a variety of brands including: Expedia.com and Hotels.com in the United States and localized Expedia and Hotels.com websites throughout the world, Expedia Partner Solutions, Orbitz, Travelocity, Wotif Group, ebookers, CheapTickets, Hotwire.com, CarRentals.com, Classic Vacations and SilverRail Technologies, Inc. Our trivago segment generates advertising revenue primarily from sending referrals to online travel companies and travel service providers from its hotel metasearch websites. Our HomeAway segment operates an online marketplace for the vacation rental industry. Our Egencia segment provides managed travel services to corporate customers worldwide. We determined our operating segments based on how our chief operating decision makers manage our business, make operating decisions and evaluate operating performance. Our primary operating metric is adjusted EBITDA. Adjusted EBITDA for our Core OTA and Egencia segments includes allocations of certain expenses, primarily cost of revenue and facilities, and our Core OTA segment includes the total costs of our global supply organizations as well as the realized foreign currency gains or losses related to the forward contracts hedging a component of our net merchant hotel revenue. We base the allocations primarily on transaction volumes and other usage metrics. We do not allocate certain shared expenses such as accounting, human resources, information technology and legal to our reportable segments. We include these expenses in Corporate and Eliminations. Our allocation methodology is periodically evaluated and may change. During the first quarter of 2018, we updated our allocations methodology for certain technology costs. While the impact of the update was not significant, we recast the historical information presented to be on a comparable basis. Our segment disclosure includes intersegment revenues, which primarily consist of advertising and media services provided by our trivago segment to our Core OTA segment. These intersegment transactions are recorded by each segment at amounts that approximate fair value as if the transactions were between third parties, and therefore, impact segment performance. However, the revenue and corresponding expense are eliminated in consolidation. The elimination of such intersegment transactions is included within Corporate and Eliminations in the table below. In addition, when HomeAway properties are booked through our Core OTA websites and vice versa, the segments split the third-party revenue for management and segment reporting purposes with the majority of the third-party revenue residing with the website marketing the property or room. Corporate and Eliminations also includes unallocated corporate functions and expenses. In addition, we record amortization of intangible assets and any related impairment, as well as stock-based compensation expense, restructuring and related reorganization charges, legal reserves, occupancy tax and other, and other items excluded from segment operating performance in Corporate and Eliminations. Such amounts are detailed in our segment reconciliation below. The following tables present our segment information for the three months ended March 31, 2018 and March 31, 2017 . As a significant portion of our property and equipment is not allocated to our operating segments and depreciation is not included in our segment measure, we do not report the assets by segment as it would not be meaningful. We do not regularly provide such information to our chief operating decision makers. Three months ended March 31, 2018 Core OTA trivago HomeAway Egencia Corporate & Total (In millions) Third-party revenue $ 1,926 $ 197 $ 234 $ 151 $ — $ 2,508 Intersegment revenue — 122 — — (122 ) — Revenue $ 1,926 $ 319 $ 234 $ 151 $ (122 ) $ 2,508 Adjusted EBITDA $ 323 $ (28 ) $ (21 ) $ 27 $ (177 ) $ 124 Depreciation (83 ) (3 ) (14 ) (11 ) (56 ) (167 ) Amortization of intangible assets — — — — (72 ) (72 ) Stock-based compensation — — — — (50 ) (50 ) Legal reserves, occupancy tax and other — — — — (3 ) (3 ) Realized (gain) loss on revenue hedges 3 — — — — 3 Operating income (loss) $ 243 $ (31 ) $ (35 ) $ 16 $ (358 ) (165 ) Other expense, net (4 ) Loss before income taxes (169 ) Provision for income taxes 20 Net loss (149 ) Net loss attributable to non-controlling interests 12 Net loss attributable to Expedia Group, Inc. $ (137 ) Three Months Ended March 31, 2017 Core OTA trivago HomeAway Egencia Corporate & Total (In millions) Third-party revenue $ 1,700 $ 181 $ 185 $ 123 $ — $ 2,189 Intersegment revenue — 104 — — (104 ) — Revenue $ 1,700 $ 285 $ 185 $ 123 $ (104 ) $ 2,189 Adjusted EBITDA $ 303 $ 21 $ 6 $ 27 $ (149 ) $ 208 Depreciation (71 ) (2 ) (8 ) (9 ) (51 ) (141 ) Amortization of intangible assets — — — — (67 ) (67 ) Stock-based compensation — — — — (47 ) (47 ) Legal reserves, occupancy tax and other — — — — (21 ) (21 ) Restructuring and related reorganization charges — — — — (2 ) (2 ) Realized (gain) loss on revenue hedges (3 ) — — — — (3 ) Operating income (loss) $ 229 $ 19 $ (2 ) $ 18 $ (337 ) (73 ) Other expense, net (58 ) Loss before income taxes (131 ) Provision for income taxes 47 Net loss (84 ) Net income attributable to non-controlling interests (2 ) Net loss attributable to Expedia Group, Inc. $ (86 )

Guarantor and Non-Guarantor Sup

Guarantor and Non-Guarantor Supplemental Financial Information	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Guarantor and Non-Guarantor Supplemental Financial Information	Note 10 – Guarantor and Non-Guarantor Supplemental Financial Information Condensed consolidating financial information of Expedia Group, Inc. (the “Parent”), our subsidiaries that are guarantors of our debt facility and instruments (the “Guarantor Subsidiaries”), and our subsidiaries that are not guarantors of our debt facility and instruments (the “Non-Guarantor Subsidiaries”) is shown below. The debt facility and instruments are guaranteed by certain of our wholly-owned domestic subsidiaries and rank equally in right of payment with all of our existing and future unsecured and unsubordinated obligations. The guarantees are full, unconditional, and joint and several with the exception of certain customary automatic subsidiary release provisions. In this financial information, the Parent and Guarantor Subsidiaries account for investments in their wholly-owned subsidiaries using the equity method. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three months ended March 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (In millions) Revenue $ — $ 1,701 $ 593 $ (105 ) $ 2,189 Costs and expenses: Cost of revenue — 335 90 (3 ) 422 Selling and marketing — 910 462 (102 ) 1,270 Technology and content — 237 85 — 322 General and administrative — 106 52 — 158 Amortization of intangible assets — 46 21 — 67 Legal reserves, occupancy tax and other — 21 — — 21 Restructuring and related reorganization charges — 1 1 — 2 Intercompany (income) expense, net — 166 (166 ) — — Operating income (loss) — (121 ) 48 — (73 ) Other income (expense): Equity in pre-tax earnings (loss) of consolidated subsidiaries (60 ) 52 — 8 — Other, net (41 ) (32 ) 15 — (58 ) Total other income (loss), net (101 ) 20 15 8 (58 ) Income (loss) before income taxes (101 ) (101 ) 63 8 (131 ) Provision for income taxes 15 44 (12 ) — 47 Net income (loss) (86 ) (57 ) 51 8 (84 ) Net income attributable to non-controlling interests — — (2 ) — (2 ) Net income (loss) attributable to Expedia Group, Inc. $ (86 ) $ (57 ) $ 49 $ 8 $ (86 ) Comprehensive income (loss) attributable to Expedia Group, Inc. $ (57 ) $ (21 ) $ 84 $ (63 ) $ (57 ) CONDENSED CONSOLIDATING BALANCE SHEET March 31, 2018 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (In millions) ASSETS Total current assets $ 370 $ 5,351 $ 2,541 $ (831 ) $ 7,431 Investment in subsidiaries 10,187 4,317 — (14,504 ) — Intangible assets, net — 1,691 552 — 2,243 Goodwill — 6,366 1,885 — 8,251 Other assets, net — 1,738 785 (19 ) 2,504 TOTAL ASSETS $ 10,557 $ 19,463 $ 5,763 $ (15,354 ) $ 20,429 LIABILITIES AND STOCKHOLDERS’ EQUITY Total current liabilities $ 978 $ 8,735 $ 1,109 $ (831 ) $ 9,991 Long-term debt, excluding current maturities 3,771 — — — 3,771 Other long-term liabilities — 573 283 (19 ) 837 Redeemable non-controlling interests — 9 13 — 22 Stockholders’ equity 5,808 10,146 4,358 (14,504 ) 5,808 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 10,557 $ 19,463 $ 5,763 $ (15,354 ) $ 20,429 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (In millions) ASSETS Total current assets $ 359 $ 3,493 $ 2,263 $ (575 ) $ 5,540 Investment in subsidiaries 10,265 4,249 — (14,514 ) — Intangible assets, net — 1,736 573 — 2,309 Goodwill — 6,366 1,863 — 8,229 Other assets, net 5 1,677 775 (19 ) 2,438 TOTAL ASSETS $ 10,629 $ 17,521 $ 5,474 $ (15,108 ) $ 18,516 LIABILITIES AND STOCKHOLDERS’ EQUITY Total current liabilities $ 751 $ 6,798 $ 905 $ (575 ) $ 7,879 Long-term debt, excluding current maturities 3,749 — — — 3,749 Other long-term liabilities — 494 262 (19 ) 737 Redeemable non-controlling interests — 9 13 — 22 Stockholders’ equity 6,129 10,220 4,294 (14,514 ) 6,129 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 10,629 $ 17,521 $ 5,474 $ (15,108 ) $ 18,516 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Three Months Ended March 31, 2018 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidated (In millions) Operating activities: Net cash provided by operating activities $ — $ 1,418 $ 258 $ 1,676 Investing activities: Capital expenditures, including internal-use software and website development — (151 ) (41 ) (192 ) Purchases of investments — (867 ) — (867 ) Sales and maturities of investments — 273 44 317 Transfers (to) from related parties — (60 ) 60 — Other, net — 11 3 14 Net cash provided by (used in) investing activities — (794 ) 66 (728 ) Financing activities: Purchases of treasury stock (202 ) — — (202 ) Payment of dividends to stockholders (46 ) — — (46 ) Proceeds from exercise of equity awards and employee stock purchase plan 20 — — 20 Transfers (to) from related parties 230 120 (350 ) — Other, net (2 ) (5 ) (1 ) (8 ) Net provided by (used in) financing activities — 115 (351 ) (236 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents — (10 ) 27 17 Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents — 729 — 729 Cash, cash equivalents and restricted cash and cash equivalents at beginning of the period — 1,321 1,596 2,917 Cash, cash equivalents and restricted cash and cash equivalents at end of the period $ — $ 2,050 $ 1,596 $ 3,646 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Three Months Ended March 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidated (In millions) Operating activities: Net cash provided by operating activities $ — $ 1,595 $ 93 $ 1,688 Investing activities: Capital expenditures, including internal-use software and website development — (137 ) (30 ) (167 ) Purchases of investments — (679 ) (101 ) (780 ) Sales and maturities of investments — 6 — 6 Other, net — (9 ) — (9 ) Net cash used in investing activities — (819 ) (131 ) (950 ) Financing activities: Purchases of treasury stock (45 ) — — (45 ) Payment of dividends to stockholders (42 ) — — (42 ) Proceeds from exercise of equity awards and employee stock purchase plan 58 — — 58 Transfers (to) from related parties 35 (135 ) 100 — Other, net (6 ) (9 ) (4 ) (19 ) Net cash provided by (used in) financing activities — (144 ) 96 (48 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents — 8 23 31 Net increase in cash, cash equivalents and restricted cash and cash equivalents — 640 81 721 Cash, cash equivalents and restricted cash and cash equivalents at beginning of period — 442 1,376 1,818 Cash, cash equivalents and restricted cash and cash equivalents at end of period $ — $ 1,082 $ 1,457 $ 2,539

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These accompanying financial statements present our results of operations, financial position and cash flows on a consolidated basis. The unaudited consolidated financial statements include Expedia Group, Inc., our wholly-owned subsidiaries, and entities we control, or in which we have a variable interest and are the primary beneficiary of expected cash profits or losses. We have eliminated significant intercompany transactions and accounts. We have prepared the accompanying unaudited consolidated financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial reporting. We have included all adjustments necessary for a fair presentation of the results of the interim period. These adjustments consist of normal recurring items. Our interim unaudited consolidated financial statements are not necessarily indicative of results that may be expected for any other interim period or for the full year. These interim unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2017 , previously filed with the Securities and Exchange Commission. trivago is a separately listed company on the Nasdaq Global Select Market and, therefore is subject to its own reporting and filing requirements, which could result in possible differences that are not expected to be material to
Accounting Estimates	Accounting Estimates We use estimates and assumptions in the preparation of our interim unaudited consolidated financial statements in accordance with GAAP. Our estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of our interim unaudited consolidated financial statements. These estimates and assumptions also affect the reported amount of net income or loss during any period. Our actual financial results could differ significantly from these estimates. The significant estimates underlying our interim unaudited consolidated financial statements include revenue recognition; recoverability of current and long-lived assets, intangible assets and goodwill; income and transactional taxes, such as potential settlements related to occupancy and excise taxes; loss contingencies; deferred loyalty rewards; acquisition purchase price allocations; stock-based compensation and accounting for derivative instruments.
Reclassifications	Reclassifications We have reclassified certain amounts related to our prior period results to conform to our current period presentation.
Seasonality	Seasonality We generally experience seasonal fluctuations in the demand for our travel products and services. For example, traditional leisure travel bookings are generally the highest in the first three quarters as travelers plan and book their spring, summer and winter holiday travel. The number of bookings typically decreases in the fourth quarter. Because revenue for most of our travel products, including merchant and agency hotel, is recognized as the travel takes place rather than when it is booked, revenue typically lags bookings by several weeks for our hotel business and can be several months for our vacation rental business. Historically, HomeAway has seen seasonally stronger bookings in the first quarter of the year, with the relevant stays occurring during the peak summer travel months. The seasonal revenue impact is exacerbated with respect to income by the nature of our variable cost of revenue and direct sales and marketing costs, which we typically realize in closer alignment to booking volumes, and the more stable nature of our fixed costs. Furthermore, operating profits for our primary advertising business, trivago, have typically been experienced in the second half of the year, particularly the fourth quarter, as selling and marketing costs offset revenue in the first half of the year as we aggressively market during the busy booking period for spring, summer and winter holiday travel. As a result on a consolidated basis, revenue and income are typically the lowest in the first quarter and highest in the third quarter. The continued growth of our international operations, advertising business or a change in our product mix, including the growth of HomeAway, may influence the typical trend of the seasonality in the future, and there may also be business or market driven dynamics that result in short-term impacts to revenue or profitability that differ from the typical seasonal trends.
Recent Accounting Policies	Recently Adopted Accounting Policies Revenue from Contracts with Customers. As of January 1, 2018, we adopted the Accounting Standards Updates ("ASU") amending revenue recognition guidance using the modified retrospective method for all contracts reflecting the aggregate effect of modifications prior to the date of adoption. Results for reporting periods beginning after January 1, 2018 are presented under the new guidance, while prior period amounts were not adjusted and continue to be reported under the accounting standards in effect for those periods. The new guidance impacted our loyalty program accounting as we are no longer permitted to use the incremental cost method when recording the financial impact of rewards earned in conjunction with our traveler loyalty programs. Instead, we re-value our liability using a relative fair value approach and now record our loyalty liability as a component of deferred merchant bookings. Additionally, due to the new definition of variable consideration, we are required to estimate and record certain variable payments, primarily volume commissions, earlier than previously recorded. Both modifications resulted in cumulative-effect adjustments to opening retained earnings, with an insignificant change to revenue on a go-forward basis. The new guidance also results in insignificant changes in the timing and classification of certain other revenue streams, including the reclassification of air distribution fees from net revenue to cost of revenue. For a comprehensive discussion of our updated revenue recognition policy, refer to the Significant Accounting Policies-Revenue Recognition disclosure below. Upon adoption, we recognized a cumulative effect of applying the new revenue guidance as a reduction to the opening balance of retained earnings of $11 million ( $8 million net of tax) comprised of changes in the accounting for our loyalty program of $49 million ( $38 million net of tax) as well as other immaterial adjustments of $2 million ( $1 million net of tax), partially offset by the impact of estimating variable consideration of $40 million ( $31 million net of tax). The impact of the new guidance to our consolidated financial statements was not meaningful as of and for the three months ended March 31, 2018. The cumulative effect of the revenue accounting changes made to our consolidated balance sheet as of January 1, 2018 were as follows: Balance at December 31, 2017 Adjustments Balance at January 1, 2018 (in millions) Current and long-term assets: Accounts receivable, net $ 1,866 $ (40 ) $ 1,826 Prepaid expenses and other current assets 269 (1 ) 268 Long-term investments and other assets 845 (3 ) 842 Current and long-term liabilities: Deferred merchant bookings 3,219 619 3,838 Accrued expenses and other current liabilities 1,265 (564 ) 701 Deferred income taxes 329 (3 ) 326 Stockholders' equity: Retained earnings 331 (8 ) 323 Recognition and Measurement of Financial Instruments. As of January 1, 2018, we adopted the new guidance related to accounting for equity investments and financial liabilities under the fair value option. The most significant impact to the Company of this new guidance was with respect to the requirement that minority equity investments with readily determinable fair values, such as our investment in Despegar.com, Corp ("Despegar"), must be carried at fair value with changes in fair value recorded through net income. Previously, such investment was designated as available for sale and was recorded at fair value with changes in fair value recorded through other comprehensive income (loss). In addition, we elected to prospectively account for minority investments without readily determinable fair values at cost, with observable price changes reflected through net income. Upon adoption, we reclassified $7 million related to the unrealized loss, net of tax, of Despegar from accumulated other comprehensive income (loss) (“AOCI”) with a corresponding decrease to retained earnings. See Note 3 – Fair Value Measurements for further information on Despegar as well as our minority investments without readily determinable fair values. Statement of Cash Flows. As of January 1, 2018, we adopted the new guidance related to the statement of cash flows, which clarified how companies present and classify certain cash receipts and cash payments as well as amended previous guidance to address the classification and presentation of changes in restricted cash in the statement of cash flows. Upon adoption, we retrospectively adjusted the prior periods presented in our consolidated statement of cash flows, which resulted in a slight working capital benefit in prepaid expenses and other assets within operating activities in the three months ended March 31, 2017. Refer to the Significant Accounting Policies-Restricted Cash and Cash Equivalents section below for a reconciliation of cash, cash equivalents and restricted cash and cash equivalents reported in our consolidated balance sheets to the total shown in our consolidated statement of cash flows. Intra-entity Transfers of Assets Other Than Inventory. As of January 1, 2018, we adopted the new guidance amending the accounting for income taxes associated with intra-entity transfers of assets other than inventory. This new guidance requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs rather than our historical practice to defer and amortize the tax consequences over a specified period of time. As a result of the adoption, we reduced retained earnings by approximately $26 million , reduced long-term investments and other assets by approximately $31 million and increased deferred tax assets by approximately $5 million related to the unrecognized income tax effects of asset transfers that occurred prior to adoption. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. In February 2018, the Financial Accounting Standards Board (“FASB”) issued new guidance that allows an entity to elect to reclassify “stranded” tax effects in AOCI to retained earnings to address concerns related to accounting for certain provisions of the Tax Cuts and Jobs Act ("the Tax Act") enacted in December 2017. The guidance is effective for annual and interim reporting periods beginning after December 15, 2018, with early adoption permitted. We elected to early adopt the new guidance during the first quarter of 2018, which resulted in the reclassification of the income tax effect of the Tax Act from AOCI to retained earnings in order to reflect the tax effects of items within AOCI at the appropriate tax rate. As a result, we reclassified approximately $10 million as an increase in retained earnings and a reduction to AOCI as of January 1, 2018. Our policy is to release income tax effects from AOCI based on the tax effects of amounts reclassified from AOCI to pre-tax income (loss) from continuing operations. Any remaining tax effect in AOCI is released following a portfolio approach. Definition of a Business. As of January 1, 2018, we prospectively adopted the ASU clarifying the definition of a business for determining whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Upon adoption, the standard impacts how we assess acquisitions (or disposals) of assets or businesses. Recent Accounting Policies Not Yet Adopted Leases. In February 2016, the FASB issued new guidance related to accounting and reporting guidelines for leasing arrangements. The new guidance requires entities that lease assets to recognize assets and liabilities on the balance sheet related to the rights and obligations created by those leases regardless of whether they are classified as finance or operating leases. Consistent with current guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease primarily will depend on its classification as a finance or operating lease. The guidance also requires new disclosures to help financial statement users better understand the amount, timing and uncertainty of cash flows arising from leases. This guidance is effective for annual and interim reporting periods beginning after December 15, 2018. Early adoption is permitted and should be applied using a modified retrospective approach. We are in the process of evaluating the impact of adopting this new guidance, including implementing changes to our systems and processes in conjunction with our review of existing lease agreements. We currently expect the most significant impact of this new standard will be the recognition of the right-of-use assets and operating lease liabilities on our consolidated balance sheet upon adoption as well as the related financial statement disclosures. Hedge Accounting. In August 2017, the FASB amended the existing accounting guidance for hedge accounting. The amendments require expanded hedge accounting for both non-financial and financial risk components and refine the measurement of hedge results to better reflect an entity's hedging strategies. The new guidance also amends the presentation and disclosure requirements and changes how entities assess hedge effectiveness. The new guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018 with early adoption permitted. The new guidance must be adopted using a modified retrospective transition with a cumulative effect adjustment recorded to opening retained earnings as of the initial adoption date. We are in the process of evaluating the impact of adopting this new guidance on our consolidated financial statements. Measurement of Credit Losses on Financial Instruments. In June 2016, the FASB issued new guidance on the measurement of credit losses for financial assets measured at amortized cost, which includes accounts receivable, and available-for-sale debt securities. The new guidance replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. This update is effective for annual periods beginning after December 15, 2019, including interim periods within those annual periods. Early adoption is permitted for annual periods beginning after December 15, 2018, including interim periods within those annual periods. We are in the process of evaluating the impact of adopting this new guidance on our consolidated financial statements.
Revenue Recognition	Revenue Recognition We recognize revenue upon transfer of control of our promised products or services in an amount that reflects the consideration we expect to be entitled to in exchange for those products or services. For our primary transaction-based revenue sources, discussed below, we have determined net presentation (that is, the amount billed to a traveler less the amount paid to a supplier) is appropriate for the majority of our revenue transactions as the supplier is primarily responsible for providing the underlying travel services and we do not control the service provided by the supplier prior to its transfer to the traveler. The following table disaggregates our revenue by major source: Three months ended March 31, 2018 (in millions) Business Model: Merchant $ 1,334 Agency 658 Advertising and media 282 HomeAway 234 Total revenue $ 2,508 Product and Service Type: Lodging $ 1,612 Air 242 Advertising and media 282 Other (1) 372 Total revenue $ 2,508 ___________________________________ (1) Other includes car rental, insurance, destination services, cruise and fee revenue related to our corporate travel business, among other revenue streams, none of which are individually material. We offer traditional travel products and services on a stand-alone and package basis generally either through the merchant or the agency business model. Under the merchant model, we facilitate the booking of hotel rooms, airline seats, car rentals and destination services from our travel suppliers and we are the merchant of record for such bookings. Under the agency model, we act as the agent in the transaction, passing reservations booked by the traveler to the relevant travel supplier. We receive commissions or ticketing fees from the travel supplier and/or traveler. For certain agency airline, hotel and car transactions, we also receive fees through global distribution systems (“GDS”) that provide the computer systems through which the travel supplier inventory is made available and through which reservations are booked. Under the advertising model, we offer travel and non-travel advertisers access to a potential source of incremental traffic and transactions through our various media and advertising offerings on trivago and our transaction-based websites. Our HomeAway business facilitates vacation rental bookings and provides listing and other ancillary services to property owners and managers. The nature of our travel booking service performance obligations vary based on the travel service with differences primarily related to the degree to which Expedia provides post booking services to the traveler and the timing when rights and obligations are triggered in our underlying supplier agreements. We consider both the traveler and travel supplier as our customers. Lodging. Our lodging revenue is comprised of revenue recognized under the merchant, agency and HomeAway business models. Merchant Hotel. We provide travelers access to book hotel room reservations through our contracts with lodging suppliers, which provide us with rates and availability information for rooms but for which we have no control over the rooms and do not bear inventory risk. Our travelers pay us for merchant hotel transactions prior to departing on their trip, generally when they book the reservation. We record the payment in deferred merchant bookings until the stayed night occurs, at which point we recognize the revenue, net of amounts paid to suppliers, as this is when our performance obligation is satisfied. In certain nonrefundable, nonchangeable transactions where we have no significant post booking services (primarily opaque hotel offerings), we record revenue when the traveler completes the transaction on our website, less a reserve for chargebacks and cancellations based on historical experience. Payments to suppliers are generally due within 30 days of check-in or stay. In certain instances when a supplier invoices us for less than the cost we accrued, we generally reduce our accrued supplier payable and the supplier costs within net revenue six months in arrears, net of an allowance, when we determine it is not probable that we will be required to pay the supplier, based on historical experience. Cancellation fees are collected and remitted to the supplier, if applicable. Agency Hotel. We generally record agency revenue from the hotel when the stayed night occurs as we provide post booking services to the traveler and, thus consider the stay as when our performance obligation is satisfied. We record an allowance for cancellations on this revenue based on historical experience. HomeAway. HomeAway’s lodging revenue is generally earned on a pay-per-booking or pay-per-subscription basis. Pay-per-booking arrangements are commission-based where rental property owners and managers bear the inventory risk, have latitude in setting the price and compensate HomeAway for facilitating bookings with travelers. Under pay-per booking arrangements, each booking is a separate contract as listings are typically cancelable at any time and the related revenue, net of amounts paid to property owners, is recognized at check in, which is the point in time when our service to the traveler is complete. In pay-per-subscription contracts, property owners or managers purchase in advance online advertising services related to the listing of their properties for rent over a fixed term (typically one year). As the performance obligation is the listing service and is provided to the property owner or manager over the life of the listing period, the pay-per-subscription revenue is recognized on a straight-line basis over the listing period. HomeAway also charges a traveler service fee at the time of booking. The service fee charged to travelers covers HomeAway’s services, including but not limited to the use of HomeAway's website and a “Book with Confidence Guarantee” providing travelers with comprehensive payment protection and 24/7 traveler support. The performance obligation is to facilitate the booking of a property and assist travelers through their check in process and, as such, the traveler service fee revenue is recognized at check-in. Revenue from other ancillary vacation rental services or products are recorded either upon delivery or when we provide the service. Merchant and Agency Air. We record revenue on air transactions when the traveler books the transaction, as we do not provide significant post booking services to the traveler and payments due to and from air carriers are typically due at the time of ticketing. We record a reserve for chargebacks and cancellations at the time of the transaction based on historical experience. In certain transactions, the GDS collects commissions from our suppliers and passes these commissions to us, net of their fees. Therefore, we view payments through the GDS as commissions from suppliers and record these commissions in net revenue. Fees paid to the GDS as compensation for their role in processing transactions are recorded as cost of revenue. Advertising and Media . We record revenue from click-through fees charged to our travel partners for leads sent to the travel partners’ websites. We record revenue from click-through fees after the traveler makes the click-through to the related travel partners’ websites. We record revenue for advertising placements ratably over the advertising period or upon delivery of advertising impressions, depending on the terms of the contract. Payments from advertisers are generally due within 30 days of invoicing. Other. Other primarily includes transaction revenue for booking services related to products such as car, cruise and destination services under the agency business model. We generally record the related revenue when the travel occurs, as in most cases we provide post booking services and this is when our performance obligation is complete. Additionally, no rights or obligations are triggered in our supplier agreements until the travel occurs. We record an allowance for cancellations on this revenue based on historical experience. In addition, other also includes travel insurance products primarily under the merchant model, for which revenue is recorded at the time the transaction is booked. Packages. Packages assembled by travelers through the packaging functionality on our websites generally include a merchant hotel component and some combination of an air, car or destination services component. The individual package components are accounted for as separate performance obligations and recognized in accordance with our revenue recognition policies stated above. As described in Note 9 – Segment Information , our reportable segments are Core Online Travel Agencies (“Core OTA”), trivago, HomeAway and Egencia. Our Core OTA segment generates revenue from the merchant, agency and advertising and media business models as well as all product and service types. trivago segment revenue is primarily generated through advertising and media. All HomeAway revenue is within the lodging product and service type. Our Egencia segment generates revenue from similar business models and product and service types to Core OTA applied to the corporate traveler with the majority being agency revenue. Deferred Merchant Bookings. We classify cash payments received in advance of our performance obligations as deferred merchant bookings. At January 1, 2018, $3.219 billion of cash advance cash payments was reported within deferred merchant bookings, $2.151 billion of which was recognized resulting in $314 million of revenue during the quarter ended March 31, 2018. At March 31, 2018, the related balance was $5.217 billion . Travelers enrolled in our internally administered traveler loyalty rewards programs earn points for each eligible booking made which can be redeemed for free or discounted future bookings. Hotels.com Rewards offers travelers one free night at any Hotels.com partner property after that traveler stays 10 nights, subject to certain restrictions. Expedia Rewards enables participating travelers to earn points on all hotel, flight, package and activities made on over 30 Brand Expedia websites. Orbitz Rewards allows travelers to earn Orbucks SM , the currency of Orbitz Rewards, on flights, hotels and vacation packages and instantly redeem those Orbucks on future bookings at various hotels worldwide. As travelers accumulate points towards free travel products, we defer the relative standalone selling price of earned points, net of expected breakage, as deferred loyalty rewards within deferred merchant bookings on the consolidated balance sheet. In order to estimate the standalone selling price for all loyalty programs, we use an adjusted market assessment approach and consider the redemption values expected from the traveler. We then estimate the number of rewards that will not be redeemed based on historical activity in our members' accounts as well as statistical modeling techniques. Revenue is recognized when we have satisfied our performance obligation relating to the points, that is when the travel service purchased with the loyalty award is satisfied. The majority of rewards expected to be redeemed are recognized within one to two years of being earned. At January 1, 2018, $619 million of deferred loyalty rewards was reported within deferred merchant bookings, $148 million of which was recognized as revenue during the quarter ended March 31, 2018. At March 31, 2018, the related balance was $649 million . Deferred Revenue. Deferred revenue primarily consists of HomeAway's traveler service fees received on bookings where we are not merchant of record due to the use of a third party payment processor, unearned subscription revenue as well as deferred advertising revenue. At January 1, 2018, $326 million was recorded as deferred revenue, $152 million of which was recognized as revenue during the quarter ended March 31, 2018. At March 31, 2018, the related balance was $469 million . Practical Expedients and Exemptions. We have used the portfolio approach to account for our loyalty points as the rewards programs share similar characteristics within each program in relation to the value provided to the traveler and their breakage patterns. Using this portfolio approach is not expected to differ materially from applying the guidance to individual contracts. However, we will continue to assess and refine, if necessary, how a portfolio within each awards program is defined. We do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed.
Restricted Cash and Cash Equivalents	Restricted Cash and Cash Equivalents Restricted cash includes cash and cash equivalents that is restricted through legal contracts, regulations or our intention to use the cash for a specific purpose. Our restricted cash primarily relates to certain traveler deposits and to a lesser extent collateral for office leases.
Fair Value Measurements	Derivative instruments are carried at fair value on our consolidated balance sheets. We use foreign currency forward contracts to economically hedge certain merchant revenue exposures, foreign denominated liabilities related to certain of our loyalty programs and our other foreign currency-denominated operating liabilities. Our goal in managing our foreign exchange risk is to reduce, to the extent practicable, our potential exposure to the changes that exchange rates might have on our earnings, cash flows and financial position. Our foreign currency forward contracts are typically short-term and, as they do not qualify for hedge accounting treatment, we classify the changes in their fair value in other, net. We classify our cash equivalents and investments within Level 1 and Level 2 as we value our cash equivalents and investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs. Valuation of the foreign currency forward contracts is based on foreign currency exchange rates in active markets, a Level 2 input.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Schedule of Disaggregation of Revenue	The following table disaggregates our revenue by major source: Three months ended March 31, 2018 (in millions) Business Model: Merchant $ 1,334 Agency 658 Advertising and media 282 HomeAway 234 Total revenue $ 2,508 Product and Service Type: Lodging $ 1,612 Air 242 Advertising and media 282 Other (1) 372 Total revenue $ 2,508 ___________________________________ (1) Other includes car rental, insurance, destination services, cruise and fee revenue related to our corporate travel business, among other revenue streams, none of which are individually material.
Schedule of Cash and Cash Equivalents [Table Text Block]	The following table reconciles cash, cash equivalents and restricted cash reported in our consolidated balance sheets to the total amount presented in our consolidated statements of cash flows: March 31, December 31, (in millions) Cash and cash equivalents $ 3,423 $ 2,847 Restricted cash and cash equivalents 219 69 Restricted cash included within long-term investments and other assets 4 1 Total cash, cash equivalents and restricted cash and cash equivalents in the consolidated statement of cash flow $ 3,646 $ 2,917

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	Financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2018 are classified using the fair value hierarchy in the table below: Total Level 1 Level 2 (In millions) Assets Cash equivalents: Money market funds $ 11 $ 11 $ — Time deposits 1,210 — 1,210 Derivatives: Foreign currency forward contracts 13 — 13 Investments: Time deposits 1,031 — 1,031 Marketable equity securities 300 300 — Total assets $ 2,565 $ 311 $ 2,254 Financial assets measured at fair value on a recurring basis as of December 31, 2017 are classified using the fair value hierarchy in the table below: Total Level 1 Level 2 (In millions) Assets Cash equivalents: Money market funds $ 16 $ 16 $ — Time deposits 552 — 552 Derivatives: Foreign currency forward contracts 6 — 6 Investments: Time deposits 469 — 469 Marketable equity securities 263 263 — Total assets $ 1,306 $ 279 $ 1,027

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Long Term Debt Outstanding	The following table sets forth our outstanding debt: March 31, December 31, (In millions) 7.456% senior notes due 2018 $ 500 $ 500 5.95% senior notes due 2020 748 748 2.5% (€650 million) senior notes due 2022 796 775 4.5% senior notes due 2024 495 495 5.0% senior notes due 2026 742 741 3.8% senior notes due 2028 990 990 Total debt (1) 4,271 4,249 Current maturities of long-term debt (500 ) (500 ) Long-term debt, excluding current maturities $ 3,771 $ 3,749 ___________________________________ (1) Net of applicable discounts and debt issuance costs.
Level 2
Long Term Debt Outstanding	The following table sets forth the approximate fair value of our outstanding debt, which is based on quoted market prices in less active markets (Level 2 inputs): March 31, December 31, (In millions) 7.456% senior notes due 2018 $ 509 $ 516 5.95% senior notes due 2020 795 810 2.5% (€650 million) senior notes due 2022 (1) 843 828 4.5% senior notes due 2024 507 528 5.0% senior notes due 2026 775 807 3.8% senior notes due 2028 933 969 (1) Approximately 684 million Euro as of March 31, 2018 and 690 million Euro as of December 31, 2017 .

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Summary Of Dividends Declared	The Executive Committee, acting on behalf of the Board of Directors, declared the following dividends during the periods presented: Declaration Date Dividend Per Share Record Date Total Amount (in millions) Payment Date February 7, 2018 $ 0.30 March 8, 2018 $ 46 March 28, 2018 February 7, 2017 0.28 March 9, 2017 42 March 30, 2017
Accumulated Other Comprehensive Loss , Net of Taxes	The balance for each class of accumulated other comprehensive loss as of March 31, 2018 and December 31, 2017 is as follows: March 31, December 31, (In millions) Foreign currency translation adjustments, net of tax (1) $ (125 ) $ (142 ) Net unrealized loss on available for sale securities, net of tax (2) — (7 ) Accumulated other comprehensive loss $ (125 ) $ (149 ) (1) Foreign currency translation adjustments, net of tax, include foreign currency transaction losses at March 31, 2018 of $71 million ( $92 million before tax) and $45 million ( $71 million before tax) at December 31, 2017 associated with our 2.5% Notes. The 2.5% Notes are Euro-denominated debt designated as hedges of certain of our Euro-denominated net assets. See Note 4 – Debt for more information. (2) The net unrealized loss on available for sale securities before tax at December 31, 2017 was $9 million , which was reclassified to retained earnings as of January 1, 2018 upon adoption of the relevant new accounting guidance.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Operating Segment Information	The following tables present our segment information for the three months ended March 31, 2018 and March 31, 2017 . As a significant portion of our property and equipment is not allocated to our operating segments and depreciation is not included in our segment measure, we do not report the assets by segment as it would not be meaningful. We do not regularly provide such information to our chief operating decision makers. Three months ended March 31, 2018 Core OTA trivago HomeAway Egencia Corporate & Total (In millions) Third-party revenue $ 1,926 $ 197 $ 234 $ 151 $ — $ 2,508 Intersegment revenue — 122 — — (122 ) — Revenue $ 1,926 $ 319 $ 234 $ 151 $ (122 ) $ 2,508 Adjusted EBITDA $ 323 $ (28 ) $ (21 ) $ 27 $ (177 ) $ 124 Depreciation (83 ) (3 ) (14 ) (11 ) (56 ) (167 ) Amortization of intangible assets — — — — (72 ) (72 ) Stock-based compensation — — — — (50 ) (50 ) Legal reserves, occupancy tax and other — — — — (3 ) (3 ) Realized (gain) loss on revenue hedges 3 — — — — 3 Operating income (loss) $ 243 $ (31 ) $ (35 ) $ 16 $ (358 ) (165 ) Other expense, net (4 ) Loss before income taxes (169 ) Provision for income taxes 20 Net loss (149 ) Net loss attributable to non-controlling interests 12 Net loss attributable to Expedia Group, Inc. $ (137 ) Three Months Ended March 31, 2017 Core OTA trivago HomeAway Egencia Corporate & Total (In millions) Third-party revenue $ 1,700 $ 181 $ 185 $ 123 $ — $ 2,189 Intersegment revenue — 104 — — (104 ) — Revenue $ 1,700 $ 285 $ 185 $ 123 $ (104 ) $ 2,189 Adjusted EBITDA $ 303 $ 21 $ 6 $ 27 $ (149 ) $ 208 Depreciation (71 ) (2 ) (8 ) (9 ) (51 ) (141 ) Amortization of intangible assets — — — — (67 ) (67 ) Stock-based compensation — — — — (47 ) (47 ) Legal reserves, occupancy tax and other — — — — (21 ) (21 ) Restructuring and related reorganization charges — — — — (2 ) (2 ) Realized (gain) loss on revenue hedges (3 ) — — — — (3 ) Operating income (loss) $ 229 $ 19 $ (2 ) $ 18 $ (337 ) (73 ) Other expense, net (58 ) Loss before income taxes (131 ) Provision for income taxes 47 Net loss (84 ) Net income attributable to non-controlling interests (2 ) Net loss attributable to Expedia Group, Inc. $ (86 )

Guarantor and Non-Guarantor S25

Guarantor and Non-Guarantor Supplemental Financial Information (Tables)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Statement of Operations	Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (In millions) Revenue $ — $ 1,911 $ 721 $ (124 ) $ 2,508 Costs and expenses: Cost of revenue — 366 126 (5 ) 487 Selling and marketing — 1,048 587 (119 ) 1,516 Technology and content — 280 116 — 396 General and administrative — 118 81 — 199 Amortization of intangible assets — 45 27 — 72 Legal reserves, occupancy tax and other — 3 — — 3 Intercompany (income) expense, net — 184 (184 ) — — Operating loss — (133 ) (32 ) — (165 ) Other income (expense): Equity in pre-tax losses of consolidated subsidiaries (97 ) (16 ) — 113 — Other, net (52 ) 52 (4 ) — (4 ) Total other income (expense), net (149 ) 36 (4 ) 113 (4 ) Loss before income taxes (149 ) (97 ) (36 ) 113 (169 ) Provision for income taxes 12 3 5 — 20 Net loss (137 ) (94 ) (31 ) 113 (149 ) Net loss attributable to non-controlling interests — 1 11 — 12 Net loss attributable to Expedia Group, Inc. $ (137 ) $ (93 ) $ (20 ) $ 113 $ (137 ) Comprehensive income (loss) attributable to Expedia Group, Inc. $ (110 ) $ (51 ) $ 24 $ 27 $ (110 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three months ended March 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (In millions) Revenue $ — $ 1,701 $ 593 $ (105 ) $ 2,189 Costs and expenses: Cost of revenue — 335 90 (3 ) 422 Selling and marketing — 910 462 (102 ) 1,270 Technology and content — 237 85 — 322 General and administrative — 106 52 — 158 Amortization of intangible assets — 46 21 — 67 Legal reserves, occupancy tax and other — 21 — — 21 Restructuring and related reorganization charges — 1 1 — 2 Intercompany (income) expense, net — 166 (166 ) — — Operating income (loss) — (121 ) 48 — (73 ) Other income (expense): Equity in pre-tax earnings (loss) of consolidated subsidiaries (60 ) 52 — 8 — Other, net (41 ) (32 ) 15 — (58 ) Total other income (loss), net (101 ) 20 15 8 (58 ) Income (loss) before income taxes (101 ) (101 ) 63 8 (131 ) Provision for income taxes 15 44 (12 ) — 47 Net income (loss) (86 ) (57 ) 51 8 (84 ) Net income attributable to non-controlling interests — — (2 ) — (2 ) Net income (loss) attributable to Expedia Group, Inc. $ (86 ) $ (57 ) $ 49 $ 8 $ (86 ) Comprehensive income (loss) attributable to Expedia Group, Inc. $ (57 ) $ (21 ) $ 84 $ (63 ) $ (57 )
Schedule of Balance Sheet Information	CONDENSED CONSOLIDATING BALANCE SHEET March 31, 2018 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (In millions) ASSETS Total current assets $ 370 $ 5,351 $ 2,541 $ (831 ) $ 7,431 Investment in subsidiaries 10,187 4,317 — (14,504 ) — Intangible assets, net — 1,691 552 — 2,243 Goodwill — 6,366 1,885 — 8,251 Other assets, net — 1,738 785 (19 ) 2,504 TOTAL ASSETS $ 10,557 $ 19,463 $ 5,763 $ (15,354 ) $ 20,429 LIABILITIES AND STOCKHOLDERS’ EQUITY Total current liabilities $ 978 $ 8,735 $ 1,109 $ (831 ) $ 9,991 Long-term debt, excluding current maturities 3,771 — — — 3,771 Other long-term liabilities — 573 283 (19 ) 837 Redeemable non-controlling interests — 9 13 — 22 Stockholders’ equity 5,808 10,146 4,358 (14,504 ) 5,808 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 10,557 $ 19,463 $ 5,763 $ (15,354 ) $ 20,429 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated (In millions) ASSETS Total current assets $ 359 $ 3,493 $ 2,263 $ (575 ) $ 5,540 Investment in subsidiaries 10,265 4,249 — (14,514 ) — Intangible assets, net — 1,736 573 — 2,309 Goodwill — 6,366 1,863 — 8,229 Other assets, net 5 1,677 775 (19 ) 2,438 TOTAL ASSETS $ 10,629 $ 17,521 $ 5,474 $ (15,108 ) $ 18,516 LIABILITIES AND STOCKHOLDERS’ EQUITY Total current liabilities $ 751 $ 6,798 $ 905 $ (575 ) $ 7,879 Long-term debt, excluding current maturities 3,749 — — — 3,749 Other long-term liabilities — 494 262 (19 ) 737 Redeemable non-controlling interests — 9 13 — 22 Stockholders’ equity 6,129 10,220 4,294 (14,514 ) 6,129 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 10,629 $ 17,521 $ 5,474 $ (15,108 ) $ 18,516
Schedule of Cash Flow Statement Information	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Three Months Ended March 31, 2018 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidated (In millions) Operating activities: Net cash provided by operating activities $ — $ 1,418 $ 258 $ 1,676 Investing activities: Capital expenditures, including internal-use software and website development — (151 ) (41 ) (192 ) Purchases of investments — (867 ) — (867 ) Sales and maturities of investments — 273 44 317 Transfers (to) from related parties — (60 ) 60 — Other, net — 11 3 14 Net cash provided by (used in) investing activities — (794 ) 66 (728 ) Financing activities: Purchases of treasury stock (202 ) — — (202 ) Payment of dividends to stockholders (46 ) — — (46 ) Proceeds from exercise of equity awards and employee stock purchase plan 20 — — 20 Transfers (to) from related parties 230 120 (350 ) — Other, net (2 ) (5 ) (1 ) (8 ) Net provided by (used in) financing activities — 115 (351 ) (236 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents — (10 ) 27 17 Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents — 729 — 729 Cash, cash equivalents and restricted cash and cash equivalents at beginning of the period — 1,321 1,596 2,917 Cash, cash equivalents and restricted cash and cash equivalents at end of the period $ — $ 2,050 $ 1,596 $ 3,646 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Three Months Ended March 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidated (In millions) Operating activities: Net cash provided by operating activities $ — $ 1,595 $ 93 $ 1,688 Investing activities: Capital expenditures, including internal-use software and website development — (137 ) (30 ) (167 ) Purchases of investments — (679 ) (101 ) (780 ) Sales and maturities of investments — 6 — 6 Other, net — (9 ) — (9 ) Net cash used in investing activities — (819 ) (131 ) (950 ) Financing activities: Purchases of treasury stock (45 ) — — (45 ) Payment of dividends to stockholders (42 ) — — (42 ) Proceeds from exercise of equity awards and employee stock purchase plan 58 — — 58 Transfers (to) from related parties 35 (135 ) 100 — Other, net (6 ) (9 ) (4 ) (19 ) Net cash provided by (used in) financing activities — (144 ) 96 (48 ) Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents — 8 23 31 Net increase in cash, cash equivalents and restricted cash and cash equivalents — 640 81 721 Cash, cash equivalents and restricted cash and cash equivalents at beginning of period — 442 1,376 1,818 Cash, cash equivalents and restricted cash and cash equivalents at end of period $ — $ 1,082 $ 1,457 $ 2,539

Summary of Significant Accoun26

Summary of Significant Accounting Policies - Recently Adopted Accounting Policies Narrative (Details) - USD ($) $ in Millions	Jan. 01, 2018	Mar. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effect on retained earnings		$ 117	$ 331
Effect on AOCI		$ (125)	$ (149)
ASU 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effect on retained earnings	$ 323
Effect on long-term investments and other assets	842
ASU 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effect on retained earnings before tax impact	(11)
Effect on retained earnings	(8)
Effect on loyalty program before tax impact	49
Effect on loyalty program	38
Immaterial adjustments before tax impact	2
Immaterial adjustments	1
Effect on variable consideration before tax impact	40
Effect on variable consideration	31
Effect on long-term investments and other assets	(3)
ASU 2016-01 | Despegar.com
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effect on retained earnings	(7)
Effect on AOCI	7
ASU 2016-16
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effect on retained earnings	(26)
Effect on long-term investments and other assets	(31)
Effect on deferred tax assets	5
ASU 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification from AOCI to retained earnings	$ 10

Summary of Significant Accoun27

Summary of Significant Accounting Policies - Recently Adopted Accounting Policies (Details) - USD ($) $ in Millions	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Current and long-term assets:
Prepaid expenses and other current assets	$ 329		$ 269
Current and long-term liabilities:
Deferred income taxes	405		329
Stockholders' equity:
Retained earnings	$ 117		331
ASU 2014-09
Current and long-term assets:
Accounts receivable, net		$ 1,826
Prepaid expenses and other current assets		268
Long-term investments and other assets		842
Current and long-term liabilities:
Deferred merchant bookings		3,838
Accrued expenses and other current liabilities		701
Deferred income taxes		326
Stockholders' equity:
Retained earnings		323
ASU 2014-09 | Calculated under Revenue Guidance in Effect before Topic 606
Current and long-term assets:
Accounts receivable, net			1,866
Prepaid expenses and other current assets			269
Long-term investments and other assets			845
Current and long-term liabilities:
Deferred merchant bookings			3,219
Accrued expenses and other current liabilities			1,265
Deferred income taxes			329
Stockholders' equity:
Retained earnings			$ 331
ASU 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
Current and long-term assets:
Accounts receivable, net		(40)
Prepaid expenses and other current assets		(1)
Long-term investments and other assets		(3)
Current and long-term liabilities:
Deferred merchant bookings		619
Accrued expenses and other current liabilities		(564)
Deferred income taxes		(3)
Stockholders' equity:
Retained earnings		$ (8)

Summary of Significant Accoun28

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Revenue	$ 2,508
Deferred merchant bookings	5,866		$ 3,219
Deferred revenue	469		$ 326
Lodging
Disaggregation of Revenue [Line Items]
Revenue	1,612
Air
Disaggregation of Revenue [Line Items]
Revenue	242
Advertising and media
Disaggregation of Revenue [Line Items]
Revenue	282
Other
Disaggregation of Revenue [Line Items]
Revenue	372
Sales Through Intermediaries | Merchant
Disaggregation of Revenue [Line Items]
Revenue	1,334
Sales Through Intermediaries | Agency
Disaggregation of Revenue [Line Items]
Revenue	658
Sales Through Intermediaries | Advertising and media
Disaggregation of Revenue [Line Items]
Revenue	282
Sales Directly to Consumers | HomeAway
Disaggregation of Revenue [Line Items]
Revenue	234
Deferred Merchant Bookings
Disaggregation of Revenue [Line Items]
Deferred merchant bookings	5,217	$ 3,219
Deferred merchant bookings recognized during period	2,151
Revenue recognized during period	314
Deferred Loyalty Rewards
Disaggregation of Revenue [Line Items]
Deferred merchant bookings	649	619
Revenue recognized during period	$ 148
Deferred Loyalty Rewards | Minimum
Disaggregation of Revenue [Line Items]
Recognition period	1 year
Deferred Loyalty Rewards | Maximum
Disaggregation of Revenue [Line Items]
Recognition period	2 years
Deferred Revenue
Disaggregation of Revenue [Line Items]
Revenue recognized during period	$ 152
Deferred revenue	$ 469	$ 326

Summary of Significant Accoun29

Summary of Significant Accounting Policies - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Cash and cash equivalents	$ 3,423	$ 2,847
Restricted cash and cash equivalents	219	69
Restricted cash included within long-term investments and other assets	4	1
Total cash, cash equivalents and restricted cash and cash equivalents in the consolidated statement of cash flow	$ 3,646	$ 2,917	$ 2,539	$ 1,818

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring Basis - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 2,565	$ 1,306
Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	13	6
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	11	16
Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,210	552
Investments	1,031	469
Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	300	263
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	311	279
Level 1 | Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	11	16
Level 1 | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Investments	0	0
Level 1 | Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	300	263
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	2,254	1,027
Level 2 | Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	13	6
Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Level 2 | Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,210	552
Investments	1,031	469
Level 2 | Marketable equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
(Gain) loss on minority equity investments, net	$ 37	$ (1)
Net gains (losses) from foreign currency forward contracts	14	$ (4)
Carrying value of cost method investments	374		$ 371
Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional amount of foreign currency derivatives	3,400
Recurring Basis | Foreign currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net forward asset	13		6
Despegar.com
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
(Gain) loss on minority equity investments, net	$ 36
Available-for-sale Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross unrealized loss			9
Available-for-sale Securities | Despegar.com
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities			273
Gross unrealized loss			$ 9

Debt - Long Term Debt Outstandi

Debt - Long Term Debt Outstanding (Details)	Mar. 31, 2018EUR (€)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Total debt		$ 4,271,000,000	$ 4,249,000,000
Current maturities of long-term debt		(500,000,000)	(500,000,000)
Long-term debt, excluding current maturities		3,771,000,000	3,749,000,000
7.456% Senior Notes Due 2018
Debt Instrument [Line Items]
Total debt		$ 500,000,000	500,000,000
Debt, interest rate (percentage)	7.456%	7.456%
Senior unsecured notes principal amount		$ 500,000,000
5.95% Senior Notes Due 2020
Debt Instrument [Line Items]
Total debt		$ 748,000,000	748,000,000
Debt, interest rate (percentage)	5.95%	5.95%
Senior unsecured notes principal amount		$ 750,000,000
2.5% Senior Notes Due 2022
Debt Instrument [Line Items]
Total debt		$ 796,000,000	775,000,000
Debt, interest rate (percentage)	2.50%	2.50%
Senior unsecured notes principal amount | €	€ 650,000,000
4.5% Senior Notes Due 2024
Debt Instrument [Line Items]
Total debt		$ 495,000,000	495,000,000
Debt, interest rate (percentage)	4.50%	4.50%
Senior unsecured notes principal amount		$ 500,000,000
5.0% Senior Notes Due 2026
Debt Instrument [Line Items]
Total debt		$ 742,000,000	741,000,000
Debt, interest rate (percentage)	5.00%	5.00%
Senior unsecured notes principal amount		$ 750,000,000
3.8% senior notes due 2028
Debt Instrument [Line Items]
Total debt		$ 990,000,000	$ 990,000,000
Debt, interest rate (percentage)	3.80%	3.80%
Senior unsecured notes principal amount		$ 1,000,000,000

Debt - Additional Information (

Debt - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018EUR (€)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Long-term debt, excluding current maturities		$ 3,771,000,000	$ 3,749,000,000
Accrued expenses and other current liabilities		597,000,000	1,265,000,000
Other long-term liabilities		432,000,000	408,000,000
Senior Notes
Debt Instrument [Line Items]
Accrued interest related to senior notes		39,000,000	75,000,000
Credit Facility
Debt Instrument [Line Items]
Credit facility		1,500,000,000
Credit facility borrowings outstanding		0	0
Commitment fee on undrawn amounts	0.175%
Letters of credit issued under the credit facility		15,000,000	14,000,000
Uncommitted Credit Facility | International Subsidiary One
Debt Instrument [Line Items]
Credit facility | €	€ 50,000,000
Credit facility borrowings outstanding	€ 0		$ 0
7.456% Senior Notes Due 2018
Debt Instrument [Line Items]
Senior unsecured notes principal amount		$ 500,000,000
Debt, interest rate (percentage)	7.456%	7.456%
Debt instrument redemption price percentage	100.00%
5.95% Senior Notes Due 2020
Debt Instrument [Line Items]
Senior unsecured notes principal amount		$ 750,000,000
Debt, interest rate (percentage)	5.95%	5.95%
Debt instrument redemption price percentage	100.00%
Senior notes issued price percentage	99.893%	99.893%
5.95% Senior Notes Due 2020 | Upon the occurrence of certain change of control triggering events
Debt Instrument [Line Items]
Debt instrument redemption price percentage	101.00%
2.5% Senior Notes Due 2022
Debt Instrument [Line Items]
Senior unsecured notes principal amount | €	€ 650,000,000
Debt, interest rate (percentage)	2.50%	2.50%
Debt instrument redemption price percentage	100.00%
Senior notes issued price percentage	99.525%	99.525%
2.5% Senior Notes Due 2022 | Upon the occurrence of certain change of control triggering events
Debt Instrument [Line Items]
Debt instrument redemption price percentage	101.00%
4.5% Senior Notes Due 2024
Debt Instrument [Line Items]
Senior unsecured notes principal amount		$ 500,000,000
Debt, interest rate (percentage)	4.50%	4.50%
Debt instrument redemption price percentage	100.00%
Senior notes issued price percentage	99.444%	99.444%
4.5% Senior Notes Due 2024 | Upon the occurrence of certain change of control triggering events
Debt Instrument [Line Items]
Debt instrument redemption price percentage	101.00%
5.0% Senior Notes Due 2026
Debt Instrument [Line Items]
Senior unsecured notes principal amount		$ 750,000,000
Debt, interest rate (percentage)	5.00%	5.00%
Debt instrument redemption price percentage	100.00%
Senior notes issued price percentage	99.535%	99.535%
5.0% Senior Notes Due 2026 | Upon the occurrence of certain change of control triggering events
Debt Instrument [Line Items]
Debt instrument redemption price percentage	101.00%
3.8% senior notes due 2028
Debt Instrument [Line Items]
Senior unsecured notes principal amount		$ 1,000,000,000
Debt, interest rate (percentage)	3.80%	3.80%
Debt instrument redemption price percentage	100.00%
Senior notes issued price percentage	99.747%	99.747%
3.8% senior notes due 2028 | Upon the occurrence of certain change of control triggering events
Debt Instrument [Line Items]
Debt instrument redemption price percentage	101.00%
LIBOR | Credit Facility
Debt Instrument [Line Items]
Basis points added to LIBOR rate	1.375%

Debt - Fair Value of Outstandin

Debt - Fair Value of Outstanding Debt (Details)	Mar. 31, 2018EUR (€)	Mar. 31, 2018USD ($)	Dec. 31, 2017EUR (€)	Dec. 31, 2017USD ($)
7.456% Senior Notes Due 2018
Debt Instrument [Line Items]
Fair value of senior notes		$ 509,000,000		$ 516,000,000
Debt, interest rate (percentage)	7.456%	7.456%
Senior unsecured notes principal amount		$ 500,000,000
5.95% Senior Notes Due 2020
Debt Instrument [Line Items]
Fair value of senior notes		$ 795,000,000		810,000,000
Debt, interest rate (percentage)	5.95%	5.95%
Senior unsecured notes principal amount		$ 750,000,000
2.5% Senior Notes Due 2022
Debt Instrument [Line Items]
Fair value of senior notes	€ 684,000,000	$ 843,000,000	€ 690,000,000	828,000,000
Debt, interest rate (percentage)	2.50%	2.50%
Senior unsecured notes principal amount | €	€ 650,000,000
4.5% Senior Notes Due 2024
Debt Instrument [Line Items]
Fair value of senior notes		$ 507,000,000		528,000,000
Debt, interest rate (percentage)	4.50%	4.50%
Senior unsecured notes principal amount		$ 500,000,000
5.0% Senior Notes Due 2026
Debt Instrument [Line Items]
Fair value of senior notes		$ 775,000,000		807,000,000
Debt, interest rate (percentage)	5.00%	5.00%
Senior unsecured notes principal amount		$ 750,000,000
3.8% senior notes due 2028
Debt Instrument [Line Items]
Fair value of senior notes		$ 933,000,000		$ 969,000,000
Debt, interest rate (percentage)	3.80%	3.80%
Senior unsecured notes principal amount		$ 1,000,000,000

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Apr. 26, 2018	Mar. 31, 2018	Mar. 31, 2017
Dividends Payable [Line Items]
Dividends declared per common share (in dollars per share)		$ 0.30	$ 0.28
Payment of dividends to stockholders		$ 46	$ 42
Subsequent Event
Dividends Payable [Line Items]
Dividends declared per common share (in dollars per share)	$ 0.30
Record Date	May 24, 2018
Payment Date	Jun. 14, 2018
February 7, 2018
Dividends Payable [Line Items]
Declaration Date		Feb. 7, 2018
Dividends declared per common share (in dollars per share)		$ 0.30
Record Date		Mar. 8, 2018
Payment of dividends to stockholders		$ 46
Payment Date		Mar. 28, 2018
February 7, 2017
Dividends Payable [Line Items]
Declaration Date			Feb. 7, 2017
Dividends declared per common share (in dollars per share)			$ 0.28
Record Date			Mar. 9, 2017
Payment of dividends to stockholders			$ 42
Payment Date			Mar. 30, 2017

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Apr. 26, 2018	Mar. 31, 2018	Feb. 28, 2015
Payments for Repurchase of Equity [Abstract]
Authorized share repurchase			10,000,000
Stock repurchased, shares		1,800,000
Stock repurchased, value		$ 191
Average repurchase price per share (in dollars per share)		$ 106.80
Shares authorized and remaining under the repurchase program		3,200,000
Subsequent Event
Payments for Repurchase of Equity [Abstract]
Authorized share repurchase	15,000,000
Stock repurchased, shares	700,000
Stock repurchased, value	$ 77
Average repurchase price per share (in dollars per share)	$ 107.98
Shares authorized and remaining under the repurchase program	17,400,000

Stockholders' Equity - Stock-ba

Stockholders' Equity - Stock-based Awards (Details) shares in Millions	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards outstanding (shares)	23
Options outstanding (shares)	20
Weighted average exercise price of options outstanding (in dollars per share) | $ / shares	$ 98.64
Weighted average remaining life of options outstanding	4 years 10 months 24 days
Options granted in period	5
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units outstanding (shares)	3
Non-options granted in period	1

Stockholders' Equity - Accumula

Stockholders' Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign currency translation adjustments, net of tax	$ (125)	$ (142)
Net unrealized loss on available for sale securities, net of tax(2)	0	(7)
Accumulated other comprehensive loss	(125)	(149)
2.5% Senior Notes Due 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign currency translation gains (losses), net of tax	(71)	(45)
Foreign currency translation gains (losses), before tax	$ (92)	(71)
Debt, interest rate (percentage)	2.50%
Available-for-sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gross unrealized loss		$ 9

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Outstanding stock awards excluded from calculations of diluted earnings (loss) per share	23	23

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Examination [Line Items]
Tax act provisional net tax benefit			$ 14
Effective tax rate	12.00%	35.60%
IRS
Income Tax Examination [Line Items]
Possible increase in U.S. taxable income		$ 105
Possible additional federal tax expense		$ 37

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	May 15, 2017USD ($)	Sep. 30, 2015USD ($)	May 31, 2014USD ($)	Mar. 31, 2018USD ($)LegalMatter	Dec. 31, 2013USD ($)	Dec. 31, 2009USD ($)	Dec. 31, 2017USD ($)
Litigation relating to occupancy tax
Commitment And Contingencies [Line Items]
Number of lawsuits filed | LegalMatter				96
Number of lawsuits currently active | LegalMatter				15
Number of lawsuits dismissed to date | LegalMatter				42
Number of dismissals based on finding that defendant was not subject to local hotel occupancy tax or the local government lacked standing to pursue claims | LegalMatter				28
Reserve for legal contingencies				$ 45			$ 43
Possible tax assessment payments for litigation				57
Colorado | Litigation related to other taxes
Commitment And Contingencies [Line Items]
Possible tax assessment payments for litigation				23
Hawaii | Litigation related to other taxes
Commitment And Contingencies [Line Items]
Pay-to-play occupancy and other tax payments					$ 171
Tax refunds received		$ 132
Tax paid, net of refunds				44
Hawaii | Litigation related to other taxes | Orbitz Worldwide, Inc.
Commitment And Contingencies [Line Items]
Tax refunds received		$ 22
Hawaii | Hawaii Litigation Related to Other Taxes, Merchant Model Car
Commitment And Contingencies [Line Items]
Pay-to-play occupancy and other tax payments	$ 16.7
City of San Francisco
Commitment And Contingencies [Line Items]
Pay-to-play occupancy and other tax payments			$ 25.5			$ 48
City of San Francisco | Orbitz Worldwide, Inc.
Commitment And Contingencies [Line Items]
Pay-to-play occupancy and other tax payments, paid to date				$ 4.6

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018Segment
Segment Reporting [Abstract]
Number of reportable segments	4

Segment Information (Detail)

Segment Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Revenue	$ 2,508	$ 2,189
Intersegment revenue	0	0
Adjusted EBITDA	124	208
Depreciation	(167)	(141)
Amortization of intangible assets	(72)	(67)
Stock-based compensation	(50)	(47)
Legal reserves, occupancy tax and other	(3)	(21)
Restructuring and related reorganization charges		(2)
Realized (gain) loss on revenue hedges	3	(3)
Operating income (loss)	(165)	(73)
Other expense, net	(4)	(58)
Income before income taxes	(169)	(131)
Provision for income taxes	20	47
Net loss	(149)	(84)
Net (income) loss attributable to non-controlling interests	12	(2)
Net income (loss) attributable to Expedia, Inc.	(137)	(86)
Core OTA
Segment Reporting Information [Line Items]
Revenue	1,926	1,700
trivago
Segment Reporting Information [Line Items]
Revenue	197	181
HomeAway
Segment Reporting Information [Line Items]
Revenue	234	185
Egencia
Segment Reporting Information [Line Items]
Revenue	151	123
Reportable Segments | Core OTA
Segment Reporting Information [Line Items]
Revenue	1,926	1,700
Intersegment revenue	0	0
Adjusted EBITDA	323	303
Depreciation	(83)	(71)
Amortization of intangible assets	0	0
Stock-based compensation	0	0
Legal reserves, occupancy tax and other	0	0
Restructuring and related reorganization charges		0
Realized (gain) loss on revenue hedges	3	(3)
Operating income (loss)	243	229
Reportable Segments | trivago
Segment Reporting Information [Line Items]
Revenue	319	285
Intersegment revenue	122	104
Adjusted EBITDA	(28)	21
Depreciation	(3)	(2)
Amortization of intangible assets	0	0
Stock-based compensation	0	0
Legal reserves, occupancy tax and other	0	0
Restructuring and related reorganization charges		0
Realized (gain) loss on revenue hedges	0	0
Operating income (loss)	(31)	19
Reportable Segments | HomeAway
Segment Reporting Information [Line Items]
Revenue	234	185
Intersegment revenue	0	0
Adjusted EBITDA	(21)	6
Depreciation	(14)	(8)
Amortization of intangible assets	0	0
Stock-based compensation	0	0
Legal reserves, occupancy tax and other	0	0
Restructuring and related reorganization charges		0
Realized (gain) loss on revenue hedges	0	0
Operating income (loss)	(35)	(2)
Reportable Segments | Egencia
Segment Reporting Information [Line Items]
Revenue	151	123
Intersegment revenue	0	0
Adjusted EBITDA	27	27
Depreciation	(11)	(9)
Amortization of intangible assets	0	0
Stock-based compensation	0	0
Legal reserves, occupancy tax and other	0	0
Restructuring and related reorganization charges		0
Realized (gain) loss on revenue hedges	0	0
Operating income (loss)	16	18
Corporate & Eliminations
Segment Reporting Information [Line Items]
Revenue	(122)	(104)
Intersegment revenue	(122)	(104)
Adjusted EBITDA	(177)	(149)
Depreciation	(56)	(51)
Amortization of intangible assets	(72)	(67)
Stock-based compensation	(50)	(47)
Legal reserves, occupancy tax and other	(3)	(21)
Restructuring and related reorganization charges		(2)
Realized (gain) loss on revenue hedges	0	0
Operating income (loss)	$ (358)	$ (337)

Guarantor and Non-Guarantor S44

Guarantor and Non-Guarantor Supplemental Financial Information - Schedule of Statement of Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Condensed Income Statements, Captions [Line Items]
Revenue	$ 2,508	$ 2,189
Cost of revenue	487	422
Selling and marketing	1,516	1,270
Technology and content	396	322
General and administrative	199	158
Amortization of intangible assets	72	67
Legal reserves, occupancy tax and other	3	21
Restructuring and related reorganization charges	0	2
Intercompany (income) expense, net	0	0
Operating loss	(165)	(73)
Equity in pre-tax earnings of consolidated subsidiaries	0	0
Other, net	(4)	(58)
Total other expense, net	(4)	(58)
Income (loss) before income taxes	(169)	(131)
Provision for income taxes	20	47
Net income (loss)	(149)	(84)
Net (income) loss attributable to noncontrolling interests	12	(2)
Net income (loss) attributable to Expedia, Inc.	(137)	(86)
Comprehensive income (loss) attributable to Expedia, Inc.	(110)	(57)
Reportable Legal Entities | Parent
Condensed Income Statements, Captions [Line Items]
Revenue	0	0
Cost of revenue	0	0
Selling and marketing	0	0
Technology and content	0	0
General and administrative	0	0
Amortization of intangible assets	0	0
Legal reserves, occupancy tax and other	0	0
Restructuring and related reorganization charges		0
Intercompany (income) expense, net	0	0
Operating loss	0	0
Equity in pre-tax earnings of consolidated subsidiaries	(97)	(60)
Other, net	(52)	(41)
Total other expense, net	(149)	(101)
Income (loss) before income taxes	(149)	(101)
Provision for income taxes	12	15
Net income (loss)	(137)	(86)
Net (income) loss attributable to noncontrolling interests	0	0
Net income (loss) attributable to Expedia, Inc.	(137)	(86)
Comprehensive income (loss) attributable to Expedia, Inc.	(110)	(57)
Reportable Legal Entities | Guarantor Subsidiaries
Condensed Income Statements, Captions [Line Items]
Revenue	1,911	1,701
Cost of revenue	366	335
Selling and marketing	1,048	910
Technology and content	280	237
General and administrative	118	106
Amortization of intangible assets	45	46
Legal reserves, occupancy tax and other	3	21
Restructuring and related reorganization charges		1
Intercompany (income) expense, net	184	166
Operating loss	(133)	(121)
Equity in pre-tax earnings of consolidated subsidiaries	(16)	52
Other, net	52	(32)
Total other expense, net	36	20
Income (loss) before income taxes	(97)	(101)
Provision for income taxes	3	44
Net income (loss)	(94)	(57)
Net (income) loss attributable to noncontrolling interests	1	0
Net income (loss) attributable to Expedia, Inc.	(93)	(57)
Comprehensive income (loss) attributable to Expedia, Inc.	(51)	(21)
Reportable Legal Entities | Non-Guarantor Subsidiaries
Condensed Income Statements, Captions [Line Items]
Revenue	721	593
Cost of revenue	126	90
Selling and marketing	587	462
Technology and content	116	85
General and administrative	81	52
Amortization of intangible assets	27	21
Legal reserves, occupancy tax and other	0	0
Restructuring and related reorganization charges		1
Intercompany (income) expense, net	(184)	(166)
Operating loss	(32)	48
Equity in pre-tax earnings of consolidated subsidiaries	0	0
Other, net	(4)	15
Total other expense, net	(4)	15
Income (loss) before income taxes	(36)	63
Provision for income taxes	5	(12)
Net income (loss)	(31)	51
Net (income) loss attributable to noncontrolling interests	11	(2)
Net income (loss) attributable to Expedia, Inc.	(20)	49
Comprehensive income (loss) attributable to Expedia, Inc.	24	84
Eliminations
Condensed Income Statements, Captions [Line Items]
Revenue	(124)	(105)
Cost of revenue	(5)	(3)
Selling and marketing	(119)	(102)
Technology and content	0	0
General and administrative	0	0
Amortization of intangible assets	0	0
Legal reserves, occupancy tax and other	0	0
Restructuring and related reorganization charges		0
Intercompany (income) expense, net	0	0
Operating loss	0	0
Equity in pre-tax earnings of consolidated subsidiaries	113	8
Other, net	0	0
Total other expense, net	113	8
Income (loss) before income taxes	113	8
Provision for income taxes	0	0
Net income (loss)	113	8
Net (income) loss attributable to noncontrolling interests	0	0
Net income (loss) attributable to Expedia, Inc.	113	8
Comprehensive income (loss) attributable to Expedia, Inc.	$ 27	$ (63)

Guarantor and Non-Guarantor S45

Guarantor and Non-Guarantor Supplemental Financial Information - Condensed Consolidating Balance Sheet Information (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Condensed Balance Sheet Statements, Captions [Line Items]
Total current assets	$ 7,431	$ 5,540
Investment in subsidiaries	0	0
Intangible assets, net	2,243	2,309
Goodwill	8,251	8,229
Other assets, net	2,504	2,438
TOTAL ASSETS	20,429	18,516
Total current liabilities	9,991	7,879
Long-term debt, excluding current maturities	3,771	3,749
Other long-term liabilities	837	737
Redeemable non-controlling interests	22	22
Stockholders’ equity	5,808	6,129
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	20,429	18,516
Reportable Legal Entities | Parent
Condensed Balance Sheet Statements, Captions [Line Items]
Total current assets	370	359
Investment in subsidiaries	10,187	10,265
Intangible assets, net	0	0
Goodwill	0	0
Other assets, net	0	5
TOTAL ASSETS	10,557	10,629
Total current liabilities	978	751
Long-term debt, excluding current maturities	3,771	3,749
Other long-term liabilities	0	0
Redeemable non-controlling interests	0	0
Stockholders’ equity	5,808	6,129
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	10,557	10,629
Reportable Legal Entities | Guarantor Subsidiaries
Condensed Balance Sheet Statements, Captions [Line Items]
Total current assets	5,351	3,493
Investment in subsidiaries	4,317	4,249
Intangible assets, net	1,691	1,736
Goodwill	6,366	6,366
Other assets, net	1,738	1,677
TOTAL ASSETS	19,463	17,521
Total current liabilities	8,735	6,798
Long-term debt, excluding current maturities	0	0
Other long-term liabilities	573	494
Redeemable non-controlling interests	9	9
Stockholders’ equity	10,146	10,220
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	19,463	17,521
Reportable Legal Entities | Non-Guarantor Subsidiaries
Condensed Balance Sheet Statements, Captions [Line Items]
Total current assets	2,541	2,263
Investment in subsidiaries	0	0
Intangible assets, net	552	573
Goodwill	1,885	1,863
Other assets, net	785	775
TOTAL ASSETS	5,763	5,474
Total current liabilities	1,109	905
Long-term debt, excluding current maturities	0	0
Other long-term liabilities	283	262
Redeemable non-controlling interests	13	13
Stockholders’ equity	4,358	4,294
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	5,763	5,474
Eliminations
Condensed Balance Sheet Statements, Captions [Line Items]
Total current assets	(831)	(575)
Investment in subsidiaries	(14,504)	(14,514)
Intangible assets, net	0	0
Goodwill	0	0
Other assets, net	(19)	(19)
TOTAL ASSETS	(15,354)	(15,108)
Total current liabilities	(831)	(575)
Long-term debt, excluding current maturities	0	0
Other long-term liabilities	(19)	(19)
Redeemable non-controlling interests	0	0
Stockholders’ equity	(14,504)	(14,514)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ (15,354)	$ (15,108)

Guarantor and Non-Guarantor S46

Guarantor and Non-Guarantor Supplemental Financial Information - Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities:
Net cash provided by operating activities	$ 1,676	$ 1,688
Investing activities:
Capital expenditures, including internal-use software and website development	(192)	(167)
Purchases of investments	(867)	(780)
Sales and maturities of investments	317	6
Transfers (to) from related parties	0
Other, net	14	(9)
Net cash used in investing activities	(728)	(950)
Financing activities:
Purchases of treasury stock	(202)	(45)
Payment of dividends to stockholders	(46)	(42)
Proceeds from exercise of equity awards and employee stock purchase plan	20	58
Transfers (to) from related parties	0	0
Other, net	(8)	(19)
Net cash used in financing activities	(236)	(48)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents	17	31
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents	729	721
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period	2,917	1,818
Cash, cash equivalents and restricted cash and cash equivalents at end of period	3,646	2,539
Parent
Operating activities:
Net cash provided by operating activities	0	0
Investing activities:
Capital expenditures, including internal-use software and website development	0	0
Purchases of investments	0	0
Sales and maturities of investments	0	0
Transfers (to) from related parties	0
Other, net	0	0
Net cash used in investing activities	0	0
Financing activities:
Purchases of treasury stock	(202)	(45)
Payment of dividends to stockholders	(46)	(42)
Proceeds from exercise of equity awards and employee stock purchase plan	20	58
Transfers (to) from related parties	230	35
Other, net	(2)	(6)
Net cash used in financing activities	0	0
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents	0	0
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period	0	0
Cash, cash equivalents and restricted cash and cash equivalents at end of period	0	0
Guarantor Subsidiaries
Operating activities:
Net cash provided by operating activities	1,418	1,595
Investing activities:
Capital expenditures, including internal-use software and website development	(151)	(137)
Purchases of investments	(867)	(679)
Sales and maturities of investments	273	6
Transfers (to) from related parties	(60)
Other, net	11	(9)
Net cash used in investing activities	(794)	(819)
Financing activities:
Purchases of treasury stock	0	0
Payment of dividends to stockholders	0	0
Proceeds from exercise of equity awards and employee stock purchase plan	0	0
Transfers (to) from related parties	120	(135)
Other, net	(5)	(9)
Net cash used in financing activities	115	(144)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents	(10)	8
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents	729	640
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period	1,321	442
Cash, cash equivalents and restricted cash and cash equivalents at end of period	2,050	1,082
Non-Guarantor Subsidiaries
Operating activities:
Net cash provided by operating activities	258	93
Investing activities:
Capital expenditures, including internal-use software and website development	(41)	(30)
Purchases of investments	0	(101)
Sales and maturities of investments	44	0
Transfers (to) from related parties	60
Other, net	3	0
Net cash used in investing activities	66	(131)
Financing activities:
Purchases of treasury stock	0	0
Payment of dividends to stockholders	0	0
Proceeds from exercise of equity awards and employee stock purchase plan	0	0
Transfers (to) from related parties	(350)	100
Other, net	(1)	(4)
Net cash used in financing activities	(351)	96
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents	27	23
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents	0	81
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period	1,596	1,376
Cash, cash equivalents and restricted cash and cash equivalents at end of period	$ 1,596	$ 1,457