Booking (BKNG) 10-Q3 Aug 232023 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2023	Jul. 27, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	1-36691
Entity Registrant Name	Booking Holdings Inc.
Entity Central Index Key	0001075531
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-1528493
Entity Address, Address Line One	800 Connecticut Avenue
Entity Address, City or Town	Norwalk
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06854
City Area Code	203
Local Phone Number	299-8000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		35,692,156
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock par value $0.008 per share
Trading Symbol	BKNG
Security Exchange Name	NASDAQ
2.375% Senior Notes Due 2024
Entity Information [Line Items]
Title of 12(b) Security	2.375% Senior Notes Due 2024
Trading Symbol	BKNG 24
Security Exchange Name	NASDAQ
0.100% Senior Notes Due 2025
Entity Information [Line Items]
Title of 12(b) Security	0.100% Senior Notes Due 2025
Trading Symbol	BKNG 25
Security Exchange Name	NASDAQ
4.000% Senior Notes Due 2026
Entity Information [Line Items]
Title of 12(b) Security	4.000% Senior Notes Due 2026
Trading Symbol	BKNG 26
Security Exchange Name	NASDAQ
1.800% Senior Notes Due 2027
Entity Information [Line Items]
Title of 12(b) Security	1.800% Senior Notes Due 2027
Trading Symbol	BKNG 27
Security Exchange Name	NASDAQ
3.625% Senior Notes Due 2028
Entity Information [Line Items]
Title of 12(b) Security	3.625% Senior Notes Due 2028
Trading Symbol	BKNG 28A
Security Exchange Name	NASDAQ
0.500% Senior Notes Due 2028
Entity Information [Line Items]
Title of 12(b) Security	0.500% Senior Notes Due 2028
Trading Symbol	BKNG 28
Security Exchange Name	NASDAQ
4.250% Senior Notes Due 2029
Entity Information [Line Items]
Title of 12(b) Security	4.250% Senior Notes Due 2029
Trading Symbol	BKNG 29
Security Exchange Name	NASDAQ
4.500% Senior Notes Due 2031
Entity Information [Line Items]
Title of 12(b) Security	4.500% Senior Notes Due 2031
Trading Symbol	BKNG 31
Security Exchange Name	NASDAQ
4.125% Senior Notes Due 2033
Entity Information [Line Items]
Title of 12(b) Security	4.125% Senior Notes Due 2033
Trading Symbol	BKNG 33
Security Exchange Name	NASDAQ
4.750% Senior Notes Due 2034
Entity Information [Line Items]
Title of 12(b) Security	4.750% Senior Notes Due 2034
Trading Symbol	BKNG 34
Security Exchange Name	NASDAQ

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 14,602	$ 12,221
Short-term investments (Available-for-sale debt securities: Amortized cost of $650 and $176, respectively)	640	175
Accounts receivable, net (Allowance for expected credit losses of $87 and $117, respectively)	2,805	2,229
Prepaid expenses, net	849	477
Other current assets	453	696
Total current assets	19,349	15,798
Property and equipment, net	732	669
Operating lease assets	608	645
Intangible assets, net	1,722	1,829
Goodwill	2,821	2,807
Long-term investments (Includes available-for-sale debt securities: Amortized cost of $37 and $576, respectively)	440	2,789
Other assets, net	886	824
Total assets	26,558	25,361
Current liabilities:
Accounts payable	2,123	2,507
Accrued expenses and other current liabilities	3,463	3,244
Deferred merchant bookings	6,040	2,223
Short-term debt	855	500
Total current liabilities	12,481	8,474
Deferred income taxes	338	685
Operating lease liabilities	533	552
Long-term U.S. transition tax liability	516	711
Other long-term liabilities	157	172
Long-term debt	13,198	11,985
Total liabilities	27,223	22,579
Commitments and contingencies (see Note 13)
Stockholders' (deficit) equity:
Common stock, $0.008 par value, Authorized shares: 1,000,000,000 Issued shares: 64,014,532 and 63,780,528, respectively	0	0
Treasury stock: 27,973,942 and 25,917,558 shares, respectively	(36,319)	(30,983)
Additional paid-in capital	6,848	6,491
Retained earnings	29,097	27,541
Accumulated other comprehensive loss	(291)	(267)
Total stockholders' (deficit) equity	(665)	2,782
Total liabilities and stockholders' (deficit) equity	$ 26,558	$ 25,361

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Accounts receivable, allowance for expected credit losses	$ 87	$ 117
Common stock, par value (in dollars per share)	$ 0.008	$ 0.008
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	64,014,532	63,780,528
Treasury stock, shares (in shares)	27,973,942	25,917,558
Short-term Investments
Available-for-sale debt securities, amortized cost	$ 650	$ 176
Long-term Investments
Available-for-sale debt securities, amortized cost	$ 37	$ 576

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Total revenues	$ 5,462	$ 4,294	$ 9,240	$ 6,989
Operating expenses:
Marketing expenses	1,801	1,737	3,318	2,884
Sales and other expenses	666	465	1,208	804
Personnel, including stock-based compensation of $128, $108, $241, and $201, respectively	752	635	1,474	1,231
General and administrative	304	207	593	365
Information technology	144	137	281	271
Depreciation and amortization	121	107	241	218
Restructuring, disposal, and other exit activities	1	6	2	42
Total operating expenses	3,789	3,294	7,117	5,815
Operating income	1,673	1,000	2,123	1,174
Interest expense	(241)	(76)	(435)	(144)
Other income (expense), net	186	220	233	(735)
Income before income taxes	1,618	1,144	1,921	295
Income tax expense	328	287	365	138
Net income	$ 1,290	$ 857	$ 1,556	$ 157
Net income applicable to common stockholders per basic common share (in dollars per share)	$ 35.16	$ 21.15	$ 41.88	$ 3.86
Weighted-average number of basic common shares outstanding (in shares)	36,678	40,512	37,147	40,715
Net income applicable to common stockholders per diluted common share (in dollars per share)	$ 34.89	$ 21.07	$ 41.51	$ 3.84
Weighted-average number of diluted common shares outstanding (in shares)	36,964	40,665	37,471	40,927
Merchant revenues
Total revenues	$ 2,770	$ 1,749	$ 4,522	$ 2,799
Agency revenues
Total revenues	2,429	2,301	4,211	3,751
Advertising and other revenues
Total revenues	$ 263	$ 244	$ 507	$ 439

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Stock-based compensation expense	$ 128	$ 108	$ 241	$ 201

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 1,290	$ 857	$ 1,556	$ 157
Other comprehensive loss, net of tax
Foreign currency translation adjustments	(24)	(70)	(26)	(108)
Net unrealized gains on available-for-sale securities	0	1	2	0
Total other comprehensive loss, net of tax	(24)	(69)	(24)	(108)
Comprehensive income	$ 1,266	$ 788	$ 1,532	$ 49

UNAUDITED CONSOLIDATED STATEM_4

UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Millions	Total	Cumulative effect of adoption of accounting standards update	Common Stock	Treasury Stock	Additional Paid-in Capital	Additional Paid-in Capital Cumulative effect of adoption of accounting standards update	Retained Earnings	Retained Earnings Cumulative effect of adoption of accounting standards update	Accumulated Other Comprehensive Loss
Balance (in shares) at Dec. 31, 2021			63,584	(22,518)
Balance at Dec. 31, 2021	$ 6,178	$ (66)	$ 0	$ (24,290)	$ 6,159	$ (96)	$ 24,453	$ 30	$ (144)
Increase (Decrease) in Stockholders' Equity
Net income	157						157
Foreign currency translation adjustments, net of tax	(108)								(108)
Net unrealized gains on available-for-sale securities, net of tax	0
Exercise of stock options and vesting of restricted stock units and performance share units (in shares)			182
Exercise of stock options and vesting of restricted stock units and performance share units	$ 5		$ 0		5
Repurchase of common stock (in shares)	(1,100)			(1,100)
Repurchase of common stock	$ (2,374)			$ (2,374)
Stock-based compensation and other stock-based payments	210				210
Balance (in shares) at Jun. 30, 2022			63,766	(23,618)
Balance at Jun. 30, 2022	4,002		$ 0	$ (26,664)	6,278		24,640		(252)
Balance (in shares) at Mar. 31, 2022			63,759	(23,005)
Balance at Mar. 31, 2022	4,373		$ 0	$ (25,390)	6,163		23,783		(183)
Increase (Decrease) in Stockholders' Equity
Net income	857						857
Foreign currency translation adjustments, net of tax	(70)								(70)
Net unrealized gains on available-for-sale securities, net of tax	1								1
Exercise of stock options and vesting of restricted stock units and performance share units (in shares)			7
Exercise of stock options and vesting of restricted stock units and performance share units	$ 2		$ 0		2
Repurchase of common stock (in shares)	(613)			(613)
Repurchase of common stock	$ (1,274)			$ (1,274)
Stock-based compensation and other stock-based payments	113				113
Balance (in shares) at Jun. 30, 2022			63,766	(23,618)
Balance at Jun. 30, 2022	4,002		$ 0	$ (26,664)	6,278		24,640		(252)
Balance (in shares) at Dec. 31, 2022			63,781	(25,918)
Balance at Dec. 31, 2022	2,782		$ 0	$ (30,983)	6,491		27,541		(267)
Increase (Decrease) in Stockholders' Equity
Net income	1,556						1,556
Foreign currency translation adjustments, net of tax	(26)								(26)
Net unrealized gains on available-for-sale securities, net of tax	2								2
Exercise of stock options and vesting of restricted stock units and performance share units (in shares)			234
Exercise of stock options and vesting of restricted stock units and performance share units	$ 109		$ 0		109
Repurchase of common stock (in shares)	(2,056)			(2,056)
Repurchase of common stock	$ (5,336)			$ (5,336)
Stock-based compensation and other stock-based payments	248				248
Balance (in shares) at Jun. 30, 2023			64,015	(27,974)
Balance at Jun. 30, 2023	(665)		$ 0	$ (36,319)	6,848		29,097		(291)
Balance (in shares) at Mar. 31, 2023			64,008	(26,796)
Balance at Mar. 31, 2023	1,074		$ 0	$ (33,178)	6,712		27,807		(267)
Increase (Decrease) in Stockholders' Equity
Net income	1,290						1,290
Foreign currency translation adjustments, net of tax	(24)								(24)
Net unrealized gains on available-for-sale securities, net of tax	0
Exercise of stock options and vesting of restricted stock units and performance share units (in shares)			7
Exercise of stock options and vesting of restricted stock units and performance share units	$ 4		$ 0		4
Repurchase of common stock (in shares)	(1,178)			(1,178)
Repurchase of common stock	$ (3,141)			$ (3,141)
Stock-based compensation and other stock-based payments	132				132
Balance (in shares) at Jun. 30, 2023			64,015	(27,974)
Balance at Jun. 30, 2023	$ (665)		$ 0	$ (36,319)	$ 6,848		$ 29,097		$ (291)

UNAUDITED CONSOLIDATED STATEM_5

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022
OPERATING ACTIVITIES:
Net income		$ 1,556	$ 157
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		241	218
Provision for expected credit losses and chargebacks		135	113
Deferred income tax benefit		(389)	(165)
Net losses on equity securities	[1]	167	806
Stock-based compensation expense and other stock-based payments		241	201
Operating lease amortization		80	81
Unrealized foreign currency transaction losses (gains) related to Euro-denominated debt		34	(68)
Other		0	40
Changes in assets and liabilities:
Accounts receivable		(672)	(1,116)
Prepaid expenses and other current assets		(90)	(181)
Deferred merchant bookings and other current liabilities		3,129	4,861
Long-term assets and liabilities		194	(568)
Net cash provided by operating activities		4,626	4,379
INVESTING ACTIVITIES:
Purchase of investments		(12)	(12)
Proceeds from sale and maturity of investments		1,737	0
Additions to property and equipment		(180)	(195)
Other investing activities		2	(36)
Net cash provided by (used in) investing activities		1,547	(243)
FINANCING ACTIVITIES:
Proceeds from the issuance of long-term debt		1,893	0
Payment on maturity of debt		(500)	(1,102)
Payments for repurchase of common stock		(5,249)	(2,288)
Proceeds from exercise of stock options		109	5
Other financing activities		(40)	8
Net cash used in financing activities		(3,787)	(3,377)
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents		(7)	(44)
Net increase in cash and cash equivalents and restricted cash and cash equivalents		2,379	715
Total cash and cash equivalents and restricted cash and cash equivalents, beginning of period		12,251	11,152
Total cash and cash equivalents and restricted cash and cash equivalents, end of period		14,630	11,867
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid during the period for income taxes		1,324	337
Cash paid during the period for interest		$ 356	$ 145

[1]Includes losses of $149 million related to the sale of Meituan during the six months ended June 30, 2023. See Note 5 for additional information related to net (losses) gains on equity securities and Note 6 for additional information related to impairments of an investment in equity securities.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
BASIS OF PRESENTATION	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Management of Booking Holdings Inc. (the "Company") is responsible for the Unaudited Consolidated Financial Statements included in this document. The Unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and include all normal and recurring adjustments that management of the Company considers necessary for a fair presentation of its financial position and operating results. The Company prepared the Unaudited Consolidated Financial Statements following the requirements of the Securities and Exchange Commission for interim reporting. As permitted under those rules, the Company condensed or omitted certain footnotes or other financial information that are normally required by U.S. GAAP for annual financial statements. These Unaudited Consolidated Financial Statements should be read in combination with the Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2022. The Unaudited Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries, including acquired businesses from the dates of acquisition. All intercompany accounts and transactions have been eliminated in consolidation. The functional currency of the Company's subsidiaries is generally the respective local currency. For international operations, assets and liabilities are translated into U.S. Dollars at the rate of exchange existing at the balance sheet date. Income statement amounts are translated at monthly average exchange rates applicable for the period. Translation gains and losses are included as a component of "Accumulated other comprehensive loss" in the accompanying Consolidated Balance Sheets. Foreign currency transaction gains and losses are included in "Other income (expense), net" in the Unaudited Consolidated Statements of Operations. Revenues, expenses, assets, and liabilities can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be the same as those for any subsequent quarter or the full year. Impact of COVID-19 Even though there have been improvements in the economic and operating conditions for the Company's business since the outset of the COVID-19 pandemic, the Company cannot predict the long-term effects of the pandemic on its business or the travel and restaurant industries as a whole. See Note 2 to the Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on the impact of the COVID-19 pandemic. Reclassification Certain amounts from prior periods have been reclassified to conform to the current period presentation. Recent Accounting Pronouncements See "Recent Accounting Pronouncements Adopted" and "Other Recent Accounting Pronouncements" in Note 2 to the Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2022.

REVENUE

REVENUE	6 Months Ended
REVENUE	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Disaggregation of Revenue Geographic Information The Company's revenues from its businesses outside of the U.S. consists of the results of Booking.com, Agoda, and Rentalcars.com in their entirety and the results of the KAYAK and OpenTable businesses located outside of the U.S. This classification is independent of where the consumer resides, where the consumer is physically located while using the Company's services, or the location of the travel service provider or restaurant. For example, a reservation made through Booking.com (which is domiciled in the Netherlands) at a hotel in New York by a consumer in the United States is part of the results of the Company's businesses outside of the U.S. The Company's geographic information on revenues is as follows (in millions): Outside of the U.S. United States The Netherlands Other Total Company Total revenues for the three months ended June 30, 2023 $ 615 $ 4,340 $ 507 $ 5,462 2022 $ 594 $ 3,340 $ 360 $ 4,294 Total revenues for the six months ended June 30, 2023 $ 1,138 $ 7,199 $ 903 $ 9,240 2022 $ 1,069 $ 5,309 $ 611 $ 6,989 Revenue by Type of Service Approximately 89% of the Company's revenues for the three and six months ended June 30, 2023, and 88% and 87% of the Company's revenues for the three and six months ended June 30, 2022, respectively, relate to online accommodation reservation services. Revenues from all other sources of online travel reservation services and advertising and other revenues each individually represent less than 10% of the Company's total revenue for each period. Incentive Programs At June 30, 2023 and December 31, 2022, liabilities of $173 million and $143 million, respectively, were included in "Accrued expenses and other current liabilities" in the Consolidated Balance Sheets for incentives granted to consumers, including referral bonuses, rebates, credits, discounts, and loyalty programs. Deferred Merchant Bookings Cash payments received from travelers in advance of the Company completing its performance obligations are included in "Deferred merchant bookings" in the Company's Consolidated Balance Sheets and are comprised principally of amounts estimated to be payable to travel service providers as well as the Company's estimated future revenue for its commission or margin and fees. The amounts are mostly subject to refunds for cancellations.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
STOCK-BASED COMPENSATION	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The Company maintains equity incentive plans that include broad-based grants of restricted stock units, performance share units granted to officers and certain other employees, and stock options granted to certain employees. Restricted stock units and performance share units granted by the Company during the three and six months ended June 30, 2023 had aggregate grant-date fair values of $12 million and $567 million, respectively. Restricted stock units and performance share units that vested during the three and six months ended June 30, 2023 had aggregate fair values at vesting of $10 million and $411 million, respectively. At June 30, 2023, there was $885 million of estimated total future stock-based compensation expense related to unvested restricted stock units and performance share units to be recognized over a weighted-average period of 2.1 years. The following table summarizes the activity in restricted stock units and performance share units for employees and non-employee directors during the six months ended June 30, 2023: Restricted Stock Units Performance Share Units Shares Weighted-average Grant-date Fair Value Shares Weighted-average Grant-date Fair Value Unvested at December 31, 2022 (1) 280,460 $2,070 143,702 $2,294 Granted (2) 163,120 $2,621 51,941 $2,679 Vested (127,428) $1,984 (30,118) $2,327 Performance shares adjustment (3) 33,096 $2,411 Forfeited (9,586) $2,283 (7,141) $2,262 Unvested at June 30, 2023 306,566 $2,392 191,480 $2,415 (1) Excludes 14,087 performance share units awarded during the years ended December 31, 2022 and 2021 for which the grant date under Accounting Standards Codification ("ASC") 718, Compensation - Stock Compensation , was not established as of December 31, 2022. Among other conditions, for the grant date to be established, a mutual understanding is required to be reached between the Company and the employee of the key terms and conditions of the award, including the performance targets. The performance targets for each of the annual performance periods under the award are set at the beginning of the respective year. (2) Includes 9,688 performance share units awarded during the years ended December 31, 2022 and 2021 for which the grant date under ASC 718 was established. (3) Probable outcome for performance-based awards is updated based upon changes in actual and forecasted operating results or expected achievement of performance goals, as applicable, and the impact of modifications. The following table summarizes the activity in stock options during the six months ended June 30, 2023: Employee Stock Options Number of Shares Weighted-average Exercise Price Aggregate Weighted-average Remaining Contractual Term Balance, December 31, 2022 120,813 $1,408 $ 73 7.3 Exercised (77,099) $1,411 Forfeited (62) $1,411 Balance, June 30, 2023 43,652 $1,404 $ 57 6.8 Exercisable at June 30, 2023 43,652 $1,404 $ 57 6.8 The aggregate intrinsic value of employee stock options exercised during the three and six months ended June 30, 2023 was $3 million and $92 million, respectively.

NET INCOME PER SHARE

NET INCOME PER SHARE	6 Months Ended
NET INCOME PER SHARE	Jun. 30, 2023
Earnings Per Share [Abstract]
NET INCOME PER SHARE	NET INCOME PER SHARE The Company computes basic net income per share by dividing net income applicable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income per share is based upon the weighted-average number of common and common equivalent shares outstanding during the period. Only dilutive common equivalent shares that decrease the net income per share are included in the computation of diluted net income per share. Common equivalent shares related to stock options, restricted stock units, and performance share units are calculated using the treasury stock method. Performance share units are included in the weighted-average common equivalent shares based on the number of shares that would be issued if the end of the reporting period were the end of the performance period, if the result would be dilutive. The Company's convertible senior notes have net share settlement features requiring the Company, upon conversion, to settle the principal amount of the debt for cash and the conversion premium for cash or shares of the Company's common stock, at the Company's option. If the conversion prices for the convertible senior notes exceed the Company's average stock price for the period, the convertible senior notes generally have no impact on diluted net income per share. The Company uses the if-converted method for the convertible senior notes in the calculation of diluted net income per share. A reconciliation of the weighted-average number of shares outstanding used in calculating diluted net income per share is as follows (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Weighted-average number of basic common shares outstanding 36,678 40,512 37,147 40,715 Weighted-average dilutive stock options, restricted stock units, and performance share units 157 111 200 168 Assumed conversion of convertible senior notes 129 42 124 44 Weighted-average number of diluted common and common equivalent shares outstanding 36,964 40,665 37,471 40,927 For the six months ended June 30, 2023, 29,040 potential common shares , related to stock options, restricted stock units, performance share units, and convertible senior notes, as applicable, were excluded from the calculation of dilu ted net income per share because their effect would have been anti-dilutive for the perio d.

INVESTMENTS

INVESTMENTS	3 Months Ended
INVESTMENTS	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS The following table summarizes the Company's investments by major security type at June 30, 2023 (in millions): Cost Gross Gross Carrying Value Short-term investments: Debt securities: International government securities $ 67 $ — $ (1) $ 66 U.S. government securities (1) 218 — (3) 215 Corporate debt securities 365 — (6) 359 Total short-term investments $ 650 $ — $ (10) $ 640 Long-term investments: Debt securities: International government securities $ 9 $ — $ — $ 9 U.S. government securities 3 — — 3 Corporate debt securities 25 — (1) 24 Total debt securities 37 — (1) 36 Equity securities: Equity securities with readily determinable fair values 715 — (440) 275 Equity securities of private companies 78 259 (208) 129 Total equity securities 793 259 (648) 404 Total long-term investments $ 830 $ 259 $ (649) $ 440 (1) Includes investments in U.S. municipal bonds. The following table summarizes the Company's investments by major security type at December 31, 2022 (in millions): Cost Gross Gross Unrealized Losses/Downward Adjustments Carrying Value Short-term investments: Debt securities: International government securities $ 13 $ — $ — $ 13 U.S. government securities (1) 131 — (1) 130 Corporate debt securities 32 — — 32 Total short-term investments $ 176 $ — $ (1) $ 175 Long-term investments: Debt securities: International government securities $ 63 $ — $ (1) $ 62 U.S. government securities (1) 147 — (3) 144 Corporate debt securities 366 — (7) 359 Total debt securities 576 — (11) 565 Equity securities: Equity securities with readily determinable fair values 1,165 1,352 (446) 2,071 Equity securities of private companies 78 259 (184) 153 Total equity securities 1,243 1,611 (630) 2,224 Total long-term investments $ 1,819 $ 1,611 $ (641) $ 2,789 (1) Includes investments in U.S. municipal bonds. The Company has classified its investments in international government securities, U.S. government securities, and corporate debt securities as available-for-sale debt securities. The aggregate unrealized gains and losses on the available-for-sale debt securities, net of tax, are included in "Accumulated other comprehensive loss" in the Consolidated Balance Sheets. At June 30, 2023, the Company's investments in debt securities had an average credit quality of A+/A1/A+ and the Company's long-term investments in available-for-sale debt securities had maturity dates between 1 and 2 years. The Company invests in international government securities with high credit quality. At June 30, 2023, investments in international government securities principally included debt securities issued by the governments of Germany, Sweden, France, and Canada. Equity securities with readily determinable fair values at June 30, 2023 include the Company's investments in Grab Holdings Limited ("Grab") and DiDi Global Inc. ("DiDi"), with fair values of $145 million and $118 million, respectively. At December 31, 2022, equity securities with readily determinable fair values included the Company's investments in Grab, DiDi, and Meituan, with fair values of $136 million, $125 million, and $1.8 billion, respectively. Equity securities with readily determinable fair values are included in "Long-term investments" in the Consolidated Balance Sheets. Net unrealized gains (losses) related to these investments included in "Other income (expense), net" in the Unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2023 and 2022 were as follows (in millions): Three Months Ended Six Months Ended 2023 2022 2023 2022 Grab $ 18 $ (41) $ 9 $ (194) DiDi (32) 18 (7) (79) Meituan — 393 — (335)

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
FAIR VALUE MEASUREMENTS	Jun. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS ` There are three levels of inputs to valuation techniques used to measure fair value: Level 1: Quoted prices in active markets that are accessible by the Company at the measurement date for identical assets and liabilities. Level 2: Inputs that are observable, either directly or indirectly. Such prices may be based upon quoted prices for identical or comparable securities in active markets or inputs not quoted on active markets, but corroborated by market data. Level 3: Unobservable inputs are used when little or no market data is available. Financial assets and liabilities measured at fair value on a recurring basis at June 30, 2023 and nonrecurring fair value measurements are classified in the categories described in the table below (in millions): Level 1 Level 2 Level 3 Total Recurring fair value measurements ASSETS: Cash equivalents and restricted cash equivalents: Money market fund investments $ 13,597 $ — $ — $ 13,597 Certificates of deposit 29 — — 29 Short-term investments: International government securities — 66 — 66 U.S. government securities — 215 — 215 Corporate debt securities — 359 — 359 Long-term investments: International government securities — 9 — 9 U.S. government securities — 3 — 3 Corporate debt securities — 24 — 24 Equity securities 275 — — 275 Derivatives: Foreign currency exchange derivatives — 49 — 49 Total assets at fair value $ 13,901 $ 725 $ — $ 14,626 LIABILITIES: Foreign currency exchange derivatives $ — $ 84 $ — $ 84 Nonrecurring fair value measurements Investment in equity securities of a private company (1) $ — $ — $ 98 $ 98 (1) As of June 30, 2023, the investment in Yanolja was written down to its estimated fair value (see Note 5). Financial assets and liabilities measured at fair value on a recurring basis at December 31, 2022 and nonrecurring fair value measurements are classified in the categories described in the table below (in millions): Level 1 Level 2 Level 3 Total Recurring fair value measurements ASSETS: Cash equivalents and restricted cash equivalents: Money market fund investments $ 11,483 $ — $ — $ 11,483 Certificates of deposit 60 — — 60 Short-term investments: International government securities — 13 — 13 U.S. government securities — 130 — 130 Corporate debt securities — 32 — 32 Long-term investments: International government securities — 62 — 62 U.S. government securities — 144 — 144 Corporate debt securities — 359 — 359 Equity securities 2,071 — — 2,071 Derivatives: Foreign currency exchange derivatives — 65 — 65 Total assets at fair value $ 13,614 $ 805 $ — $ 14,419 LIABILITIES: Foreign currency exchange derivatives $ — $ 26 $ — $ 26 Nonrecurring fair value measurements Investment in equity securities of a private company (1) $ — $ — $ 122 $ 122 (1) During the year ended December 31, 2022, the investment in Yanolja was written down to its estimated fair value. Investments See Note 5 for additional information related to the Company's investments. Investments in private companies measured using Level 3 inputs The Company's investments measured using Level 3 inputs primarily consist of investments in privately-held companies that are classified as equity securities without readily determinable fair values. Fair values of privately held securities are estimated using a variety of valuation methodologies, including both the market and income approaches. The Company uses valuation techniques appropriate for the type of investment and the information available about the investee as of the valuation date to determine fair value. While observable financing transactions of the investee are generally considered the best indication of the enterprise value, considering factors such as the proximity in timing of the financing transaction to the valuation date, the Company may also use the calibration process and other valuation techniques to supplement this data, including the income approach. Calibration is the process of using observed transactions in the investee company's own instruments to ensure that the valuation techniques that will be employed to value the investment on subsequent measurement dates begin with assumptions that are consistent with the observed transactions. As of June 30, 2023 and 2022, the Company evaluated its investment in Yanolja for impairment using a combination of the market approach and the income approach in estimating the fair value of the investment as of those dates, and recognized impairment charges. The market approach estimates value using prices and other relevant information generated by market transactions involving comparable companies. The income approach estimates value based on the expectation of future cash flows that a company will generate. These future cash flows are discounted to their present values using a discount rate based on a company’s weighted-average cost of capital adjusted to reflect the risks inherent in its cash flows. The key unobservable inputs and ranges used for the June 2023 impairment evaluation, primarily using the income approach, include the weighted average cost of capital (10.5%-14.5%) and the terminal EBITDA multiple (14x-16x). The key unobservable inputs and ranges used for the June 2022 impairment evaluation include, for the market approach, percentage decrease in the calibrated EBITDA multiple (36%) and for the income approach, the weighted average cost of capital (10%-14%) and the terminal EBITDA multiple (14x-16x). Significant changes in any of these inputs in isolation would result in significantly different fair value measurements. A change in the assumption used for EBITDA multiples would result in a directionally similar change in the fair value, and a change in the assumption used for weighted average cost of capital would result in a directionally opposite change in the fair value. The determination of the fair values of investments, where the Company is a minority shareholder and has access to limited information from the investee, reflects numerous assumptions that are subject to various risks and uncertainties, including key assumptions regarding the investee’s expected growth rates and operating margin, as well as other key assumptions with respect to matters outside of the Company's control, such as discount rates and market comparables. It requires significant judgments and estimates and actual results could be materially different than those judgments and estimates utilized in the fair value estimate. Future events and changing market conditions may lead the Company to re-evaluate the assumptions reflected in the valuation which may result in a need to recognize additional impairment charges. Derivatives The Company reports the fair values of its derivative assets and liabilities on a gross basis in the Consolidated Balance Sheets in "Other current assets" and "Accrued expenses and other current liabilities," respectively. As of June 30, 2023 and December 31, 2022, the Company did not designate any derivatives as hedges for accounting purposes. The table below provides estimated fair values and notional amounts of foreign currency exchange derivatives outstanding at June 30, 2023 and December 31, 2022 (in millions). The notional amount of a foreign currency forward contract is the contracted amount of foreign currency to be exchanged and is not recorded in the balance sheets. June 30, December 31, Estimated fair value of derivative assets $ 49 $ 65 Estimated fair value of derivative liabilities $ 84 $ 26 Notional amount: Foreign currency purchases $ 4,320 $ 2,870 Foreign currency sales $ 4,588 $ 2,682 The effect of foreign currency exchange derivatives recorded in "Other income (expense), net" in the Unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2023 and 2022 is as follows (in millions): Three Months Ended Six Months Ended 2023 2022 2023 2022 Losses on foreign currency exchange derivatives $ 67 $ 40 $ 84 $ 56 Other Financial Assets and Liabilities At June 30, 2023 and December 31, 2022, the Company's cash consisted of bank deposits. Cash equivalents principally include money market fund investments and certificates of deposit and their carrying value generally approximates the fair value as they are readily convertible to known amounts of cash. Other financial assets and liabilities, including restricted cash, accounts payable, accrued expenses, and deferred merchant bookings, are carried at cost which approximates their fair values because of the short-term nature of these items. Accounts receivable and other financial assets measured at amortized cost are carried at cost less an allowance for expected credit losses to present the net amount expected to be collected (see Note 7). See Note 9 for the estimated fair value of the Company's outstanding senior notes, including the estimated fair value of the Company's convertible senior notes.

ACCOUNTS RECEIVABLE AND OTHER F

ACCOUNTS RECEIVABLE AND OTHER FINANCIAL ASSETS	6 Months Ended
ACCOUNTS RECEIVABLE AND OTHER FINANCIAL ASSETS	Jun. 30, 2023
Receivables [Abstract]
ACCOUNTS RECEIVABLE AND OTHER FINANCIAL ASSETS	ACCOUNTS RECEIVABLE AND OTHER FINANCIAL ASSETS Accounts receivable in the Consolidated Balance Sheets at June 30, 2023 and December 31, 2022 includes receivables from customers of $2.0 billion and $1.5 billion, respectively, and receivables from payment processors and networks of $832 million and $730 million, respectively. The remaining balance principally relates to receivables from marketing affiliates. In addition, the Company had prepayments to certain accommodation travel service provider customers of $6 million and $29 million included in "Prepaid expenses, net" and $22 million and $5 million included in "Other assets, net" in the Consolidated Balance Sheets at June 30, 2023 and December 31, 2022, respectively. The amounts mentioned above are stated on a gross basis, before deducting the allowance for expected credit losses. Significant judgments and assumptions are required to estimate the allowance for expected credit losses and such assumptions may change in future periods, particularly the assumptions related to the business prospects and financial condition of customers and marketing affiliates, also taking into account factors such as the macroeconomic conditions, inflationary pressures, potential recession, and the Company's ability to collect the receivable or recover the prepayment. The following table summarizes the activity of the allowance for expected credit losses on receivables (in millions): Six Months Ended 2023 2022 Balance, beginning of year $ 117 $ 101 Provision charged to earnings 60 59 Write-offs and adjustments (92) (52) Foreign currency translation adjustments 2 (6) Balance, end of period $ 87 $ 102 In addition to the allowance for expected credit losses on receivables, the Company recorded an allowance for expected credit losses on prepayments to certain accommodation travel service provider customers, which are included in "Prepaid expenses, net" and "Other assets, net" in the Consolidated Balance Sheets. The following table summarizes the activity of the allowance for expected credit losses on prepayments to customers (in millions): Six Months Ended 2023 2022 Balance, beginning of year $ 23 $ 47 Provision charged to expense 2 (8) Write-offs and adjustments (2) (4) Balance, end of period $ 23 $ 35

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	6 Months Ended
INTANGIBLE ASSETS AND GOODWILL	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL The Company's intangible assets at June 30, 2023 and December 31, 2022 consist of the following (in millions): June 30, 2023 December 31, 2022 Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Amortization Period Supply and distribution agreements $ 1,397 $ (711) $ 686 $ 1,386 $ (658) $ 728 3 - 20 years Technology 286 (202) 84 287 (185) 102 2 - 7 years Trade names 1,810 (862) 948 1,806 (812) 994 3 - 20 years Other intangible assets 44 (40) 4 43 (38) 5 Up to 20 years Total intangible assets $ 3,537 $ (1,815) $ 1,722 $ 3,522 $ (1,693) $ 1,829 Intangible assets are amortized on a straight-line basis. Amortization expense was $56 million and $111 million for the three and six months ended June 30, 2023, respectively, and $56 million and $112 million for the three and six months ended June 30, 2022, respectively.

DEBT

DEBT	6 Months Ended
DEBT	Jun. 30, 2023
Debt Disclosure [Abstract]
DEBT	DEBT Revolving Credit Facility In May 2023, the Company entered into a five-year unsecured revolving credit facility with a group of lenders. The revolving credit facility extends a revolving line of credit of up to $2.0 billion to the Company and provides for the issuance of up to $80 million of letters of credit, as well as up to $100 million of borrowings on same-day notice, referred to as swingline loans. Other than the swingline loans, which are available only in U.S. dollars, the revolving loans and the letters of credit are available in U.S. dollars, Euros, Pounds Sterling, and any other currency agreed to by the administrative agent and each of the lenders. The revolving credit facility contains a maximum leverage ratio covenant, compliance with which is a condition to the Company's ability to borrow. Borrowings under the revolving credit facility will bear interest at a rate determined by reference to benchmark rates plus an applicable spread (ranging from 0% to 1.375%) based on the Company's leverage or credit rating at the time of the borrowing. Undrawn balances available under the revolving credit facility are subject to commitment fees at the applicable rate determined by reference to the Company's leverage or credit rating. Upon entering into this new revolving credit facility, the Company terminated the $2.0 billion five-year revolving credit facility entered into in August 2019. At June 30, 2023 there were no borrowings outstanding and $17 million of letters of credit issued under the new revolving credit facility. At December 31, 2022, there were no borrowings outstanding and $14 million of letters of credit issued under the prior revolving credit facility. See Note 12 to the Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on the prior revolving credit facility. Outstanding Debt Outstanding debt at June 30, 2023 consists of the following (in millions): June 30, 2023 Outstanding Principal Amount Unamortized Debt Carrying Value Current liabilities: 0.75% Convertible Senior Notes due May 2025 $ 863 $ (8) $ 855 Total current liabilities $ 863 $ (8) $ 855 Long-term debt: 2.375% (€1 Billion) Senior Notes due September 2024 $ 1,091 $ (2) $ 1,089 3.65% Senior Notes due March 2025 500 (1) 499 0.1% (€950 Million) Senior Notes due March 2025 1,036 (2) 1,034 3.6% Senior Notes due June 2026 1,000 (2) 998 4.0% (€750 Million) Senior Notes due November 2026 818 (3) 815 1.8% (€1 Billion) Senior Notes due March 2027 1,091 (2) 1,089 3.55% Senior Notes due March 2028 500 (2) 498 0.5% (€750 Million) Senior Notes due March 2028 818 (3) 815 3.625% (€500 Million) Senior Notes due November 2028 546 (4) 542 4.25% (€750 Million) Senior Notes due May 2029 818 (5) 813 4.625% Senior Notes due April 2030 1,500 (8) 1,492 4.5% (€1 Billion) Senior Notes due November 2031 1,091 (7) 1,084 4.125% (€1.25 Billion) Senior Notes due May 2033 1,364 (16) 1,348 4.75% (€1 Billion) Senior Notes due November 2034 1,091 (9) 1,082 Total long-term debt $ 13,264 $ (66) $ 13,198 Outstanding debt at December 31, 2022 consists of the following (in millions): December 31, 2022 Outstanding Unamortized Debt Carrying Value Current liabilities: 2.75% Senior Notes due March 2023 $ 500 $ — $ 500 Total current liabilities $ 500 $ — $ 500 Long-term debt: 2.375% (€1 Billion) Senior Notes due September 2024 $ 1,067 $ (3) $ 1,064 3.65% Senior Notes due March 2025 500 (1) 499 0.1% (€950 Million) Senior Notes due March 2025 1,014 (3) 1,011 0.75% Convertible Senior Notes due May 2025 863 (9) 854 3.6% Senior Notes due June 2026 1,000 (3) 997 4.0% (€750 Million) Senior Notes due November 2026 800 (3) 797 1.8% (€1 Billion) Senior Notes due March 2027 1,067 (2) 1,065 3.55% Senior Notes due March 2028 500 (2) 498 0.5% (€750 Million) Senior Notes due March 2028 800 (3) 797 4.25% (€750 Million) Senior Notes due May 2029 800 (6) 794 4.625% Senior Notes due April 2030 1,500 (9) 1,491 4.5% (€1 Billion) Senior Notes due November 2031 1,067 (7) 1,060 4.75% (€1 Billion) Senior Notes due November 2034 1,067 (9) 1,058 Total long-term debt $ 12,045 $ (60) $ 11,985 Fair Value of Debt At June 30, 2023 and December 31, 2022, the estimated fair value of the outstanding debt was approximately $14.3 billion and $12.4 billion, respectively, and was considered a "Level 2" fair value measurement (see Note 6). Fair value was estimated based upon actual trades at the end of the reporting period or the most recent trade available as well as the Company's stock price at the end of the reporting period. The estimated fair value of the Company's debt in excess of the outstanding principal amount at June 30, 2023 primarily relates to the conversion premium on the convertible senior notes due in May 2025. As of December 31, 2022, the outstanding principal amount of the Company's debt exceeded the fair value of debt mainly due to the increase in interest rates partially offset by the conversion premium on the convertible senior notes due in May 2025. Convertible Senior Notes In April 2020, the Company issued $863 million aggregate principal amount of convertible senior notes due in May 2025 with an interest rate of 0.75% (the "May 2025 Notes"). The Company paid $19 million in debt issuance costs during the year ended December 31, 2020 related to the issuance. The May 2025 Notes are convertible, subject to certain conditions, into the Company's common stock at a conversion price of $1,886.44 per share. The May 2025 Notes are convertible, at the option of the holder, prior to November 1, 2024, upon the occurrence of specific events, including but not limited to a change in control, or if the closing sales price of the Company's common stock for at least 20 trading days in the period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is more than 130% of the conversion price in effect for the notes on the last trading day of the immediately preceding quarter. In the event that all or substantially all of the Company's common stock is acquired on or prior to the maturity of the May 2025 Notes in a transaction in which the consideration paid to holders of the Company's common stock consists of all or substantially all cash, the Company would be required to make additional payments in the form of additional shares of common stock to the holders of the May 2025 Notes in an aggregate value ranging from $0 to $235 million depending upon the date of the transaction and the then current stock price of the Company. Starting on November 1, 2024, holders will have the right to convert all or any portion of the May 2025 Notes, regardless of the Company's stock price. The May 2025 Notes may not be redeemed by the Company prior to maturity. The holders may require the Company to repurchase the May 2025 Notes for cash in certain circumstances. Interest on the May 2025 Notes is payable on May 1 and November 1 of each year. If the note holders exercise their option to convert, the Company delivers cash to repay the principal amount of the notes and delivers shares of common stock or cash, at its option, to satisfy the conversion value in excess of the principal amount. At June 30, 2023 and December 31, 2022, the estimated fair value of the May 2025 Notes was $1.3 billion and $1.2 billion, respectively, and was considered a "Level 2" fair value measurement (see Note 6). For the three and six months ended June 30, 2023 and 2022, the weighted-average effective interest rate related to the convertible senior notes was 1.2%. Based on the closing sales prices of the Company's common stock for the prescribed measurement periods, the May 2025 Notes were convertible at the option of the holder during the second calendar quarter of 2023 and continue to be convertible during the third calendar quarter of 2023. The May 2025 Notes are classified as "Short-term debt" in the Consolidated Balance Sheet as of June 30, 2023. Other Senior Notes In May 2023, the Company issued senior notes due November 2028 with an interest rate of 3.625% for an aggregate principal amount of 500 million Euros and senior notes due May 2033 with an interest rate of 4.125% for an aggregate principal amount of 1.25 billion Euros. The proceeds from the issuance of these senior notes are available for general corporate purposes, including to repurchase shares of the Company's common stock. In March 2023, the Company repaid $500 million on the maturity of the Senior Notes due March 2023. In March 2022, the Company repaid $1.1 billion on the maturity of Senior Notes due March 2022. In addition, the Company paid the applicable accrued and unpaid interest relating to each of these senior notes. Other senior notes had a total carrying value of $13.2 billion and $11.6 billion at June 30, 2023 and December 31, 2022, respectively. Debt discount and debt issuance costs are amortized using the effective interest rate method over the period from the origination date through the stated maturity date. Interest expense related to other senior notes consists primarily of coupon interest expense of $100 million and $192 million for the three and six months ended June 30, 2023, respectively, and $56 million and $114 million for the three and six months ended June 30, 2022, respectively. The Company designates certain portions of the aggregate principal value of the Euro-denominated debt as a hedge of the foreign currency exposure of the net investment in certain Euro functional currency subsidiaries. For the six months ended June 30, 2023 and 2022, the carrying value of the portion of Euro-denominated debt, designated as a net investment hedge, ranged from $5.9 billion to $7.5 billion and from $4.2 billion to $5.6 billion, respectively.

TREASURY STOCK

TREASURY STOCK	6 Months Ended
TREASURY STOCK	Jun. 30, 2023
Equity [Abstract]
TREASURY STOCK	TREASURY STOCK At December 31, 2022, the Company had a total remaining authorization of $3.9 billion related to a program authorized by the Company's Board of Directors ("the Board") in 2019 to repurchase up to $15.0 billion of the Company's common stock. In the first quarter of 2023, the Board authorized an additional program to repurchase up to $20.0 billion of the Company's common stock. At June 30, 2023, the Company had a total remaining authorization of $18.8 billion to repurchase its common stock. The Company expects to complete the share repurchases under the remaining authorization within four years from when the Company started the program in the first quarter of 2023, assuming no major downturn in the travel market. Additionally, the Board has given the Company the general authorization to repurchase shares of its common stock withheld to satisfy employee withholding tax obligations related to stock-based compensation. The following table summarizes the Company's stock repurchase activities during the three and six months ended June 30, 2023 and 2022 (in millions, except for shares, which are reflected in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Shares Amount Shares Amount Shares Amount Shares Amount Authorized stock repurchase programs 1,177 $ 3,138 612 $ 1,271 1,989 $ 5,160 1,026 $ 2,219 General authorization for shares withheld on stock award vesting 1 3 1 3 67 176 74 155 Total 1,178 $ 3,141 613 $ 1,274 2,056 $ 5,336 1,100 $ 2,374 Stock repurchases of $110 million in June 2023 were settled in July 2023.

INCOME TAXES

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income tax expense consists of U.S. and international income taxes, determined using an estimate of the Company's annual effective tax rate, which is based upon the applicable tax rates and tax laws of the countries in which the income is generated. A deferred tax liability is recognized for all taxable temporary differences, and a deferred tax asset is recognized for all deductible temporary differences and operating loss and tax credit carryforwards. A valuation allowance is provided when it is more likely than not that some portion or all of a deferred tax asset will not be realized. The Company considers many factors when assessing the likelihood of future realization of the deferred tax assets, including its recent cumulative earnings experience by taxing jurisdiction, expectations of future income, tax planning strategies, the carryforward periods available for tax reporting purposes, and other relevant factors. The Company's effective tax rates for the three and six months ended June 30, 2023 were 20.3% and 19.0%, respectively, compared to 25.1% and 46.8% for the three and six months ended June 30, 2022, respectively. The Company's 2023 effective tax rates differ from the U.S. federal statutory tax rate of 21%, primarily due to the benefit of the Netherlands Innovation Box Tax (discussed below), partially offset by higher international tax rates and certain non-deductible expenses. The Company's 2022 effective tax rates differed from the U.S. federal statutory tax rate of 21%, primarily due to higher international tax rates, a valuation allowance related to certain unrealized losses on equity securities, and certain non-deductible expenses, partially offset by the benefit of the Netherlands Innovation Box Tax. The Company's effective tax rates for the three and six months ended June 30, 2023 were lower than the effective tax rates for the three and six months ended June 30, 2022, primarily due to a lower valuation allowance related to certain unrealized losses on equity securities, lower international tax rates, and lower U.S. federal and state tax associated with the Company's international earnings, partially offset by a decrease in the benefit of the Netherlands Innovation Box Tax. During the three and six months ended June 30, 2023 and 2022, a majority of the Company's income was reported in the Netherlands, where Booking.com is based. According to Dutch corporate income tax law, income generated from qualifying innovative activities is taxed at a rate of 9% ("Innovation Box Tax") rather than the Dutch statutory rate of 25.8%. A portion of Booking.com's earnings during the three and six months ended June 30, 2023 and 2022 qualified for Innovation Box Tax treatment, which had a beneficial impact on the Company's effective tax rates for these periods. The aggregate amount of unrecognized tax benefits for all matters at June 30, 2023 and December 31, 2022 was $59 million and $184 million, respectively. The unrecognized tax benefits, if recognized, would impact the effective tax rate. As of June 30, 2023 and December 31, 2022, total gross interest and penalties accrued was $7 million and $43 million, respectively. The decrease in unrecognized tax benefits, as well as gross interest and penalties, primarily relates to the settlement by Booking.com of certain French tax matters. The majority of unrecognized tax benefits are included in "Other assets, net" and "Accrued expenses and other current liabilities" in the Consolidated Balance Sheet as of June 30, 2023. It is reasonably possible that the balance of gross unrecognized tax benefits could change over the next 12 months.

CHANGES IN ACCUMULATED OTHER CO

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS BY COMPONENT	6 Months Ended
	Jun. 30, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS BY COMPONENT	CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS BY COMPONENT The tables below present the changes in the balances of accumulated other comprehensive loss ("AOCI") by component for the three and six months ended June 30, 2023 and 2022 (in millions): Foreign currency translation adjustments Net unrealized (losses) gains on available-for-sale securities Total AOCI, net of tax Foreign currency translation Net investment hedges (1) Total, net of tax Before tax Tax Total, net of tax Before tax Tax (2) Before tax Tax Three Months Ended June 30, 2023 Balance, March 31, 2023 $ (474) $ 72 $ 197 $ (54) $ (259) $ (10) $ 2 $ (8) $ (267) Other comprehensive income (loss) ("OCI") for the period (2) 4 (34) 8 (24) (1) 1 — (24) Balance, June 30, 2023 $ (476) $ 76 $ 163 $ (46) $ (283) $ (11) $ 3 $ (8) $ (291) Six Months Ended June 30, 2023 Balance, December 31, 2022 $ (579) $ 93 $ 310 $ (81) $ (257) $ (13) $ 3 $ (10) $ (267) OCI for the period 103 (17) (147) 35 (26) 2 — 2 (24) Balance, June 30, 2023 $ (476) $ 76 $ 163 $ (46) $ (283) $ (11) $ 3 $ (8) $ (291) Three Months Ended June 30, 2022 Balance, March 31, 2022 $ (411) $ 74 $ 208 $ (55) $ (184) $ 2 $ (1) $ 1 $ (183) OCI for the period (306) 38 262 (64) (70) 1 — 1 (69) Balance, June 30, 2022 $ (717) $ 112 $ 470 $ (119) $ (254) $ 3 $ (1) $ 2 $ (252) Six Months Ended June 30, 2022 Balance, December 31, 2021 $ (276) $ 67 $ 91 $ (28) $ (146) $ 3 $ (1) $ 2 $ (144) OCI for the period (441) 45 379 (91) (108) — — — (108) Balance, June 30, 2022 $ (717) $ 112 $ 470 $ (119) $ (254) $ 3 $ (1) $ 2 $ (252) (1) Net investment hedges balance at June 30, 2023 and earlier dates presented above, includes accumulated net losses from fair value adjustments of $35 million ($53 million before tax) associated with previously settled derivatives that were designated as net investment hedges. The remaining balances relate to foreign currency transaction gains (losses) and related tax benefits (expenses) associated with the Company's Euro-denominated debt that is designated as a hedge of the foreign currency exposure of the net investment in certain Euro functional currency subsidiaries (see Note 9). (2) The tax benefits relate to foreign currency translation adjustments to the Company's one-time deemed repatriation tax liability recorded at December 31, 2017 and foreign earnings for periods after December 31, 2017 that are subject to U.S. federal and state income tax, resulting from the enactment of the U.S. Tax Cuts and Jobs Act (the "Tax Act").

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Competition and Consumer Protection Reviews At times, online platforms, including online travel platforms, have been the subject of investigations or inquiries by various national competition authorities ("NCAs") or other governmental authorities regarding competition law matters, consumer protection issues, or other areas of concern. The Company is and has been involved in many such investigations. For example, the Company has been and continues to be involved in investigations related to whether Booking.com's contractual parity arrangements with accommodation providers, sometimes also referred to as "most favored nation" or "MFN" provisions, are anti-competitive because they require accommodation providers to provide Booking.com with room rates, conditions or availability that are at least as favorable as those offered to other online travel companies or through the accommodation provider's website. To resolve and close certain of the investigations, the Company has from time to time made commitments to the investigating authorities regarding future business practices or activities, such as agreeing to narrow the scope of its parity clauses, in order to resolve parity-related investigations. These investigations have resulted in fines and the Company could incur additional fines in the future. In addition, in September 2017, the Swiss Price Surveillance Office opened an investigation into the level of commissions of Booking.com in Switzerland and the investigation is ongoing. If there is an adverse outcome and Booking.com is unsuccessful in any appeal, Booking.com could be required to reduce its commissions in Switzerland. In October 2022, the Comisión Nacional de los Mercados y la Competencia in Spain opened an investigation into whether certain practices by Booking.com may produce adverse effects for hotels and other online travel agencies. In July 2023, the Polish Office of Competition and Consumer Protection opened an investigation into Booking.com's identification of private and professional hosts and its messaging in relation to obligations owed to consumers. If either of the investigations were to find that Booking.com practices violated the respective laws, Booking.com may face significant fines and/or be required to make other commitments. Some authorities are reviewing the online hotel booking sector more generally through market inquiries, and the Company cannot predict the outcome of such inquiries or any resulting impact on its business, results of operations, cash flows, or financial condition. The Company is and has been involved in investigations or inquiries by NCAs or other governmental authorities involving consumer protection matters, including in the United Kingdom and the European Union. The Company has previously made certain voluntary commitments to competition authorities to resolve investigations or inquiries that have included showing prices inclusive of all mandatory taxes and charges, providing information about the effect of money earned on search result rankings on or before the search results page and making certain adjustments to how discounts and statements concerning popularity or availability are shown to consumers. In the future, it is possible new jurisdictions could engage the Company in discussions to implement changes to its business in those countries. The Company is unable to predict what, if any, effect any future similar commitments will have on its business, industry practices or online commerce more generally. To the extent that any other investigations or inquiries result in additional commitments, fines, damages or other remedies, the Company's business, financial condition, and results of operations could be harmed. The Company is unable to predict how any current or future investigations or litigation may be resolved or the long-term impact of any such resolution on its business. For example, competition and consumer-law-related investigations, legislation, or issues could result in private litigation and the Company is currently involved in such litigation. More immediate results could include, among other things, the imposition of fines, payment of damages, commitments to change certain business practices, or reputational damage, any of which could harm the Company's business, results of operations, brands, or competitive position. Tax Matters Between December 2018 and August 2021, the Italian tax authorities issued assessments on Booking.com's Italian subsidiary totaling approximately 251 million Euros ($274 million) for the tax years 2013 through 2018, asserting that its transfer pricing policies were inadequate. The Company believes Booking.com has been and continues to be in compliance with Italian tax law. In September 2020, the Italian tax authorities approved the opening of a mutual agreement procedure ("MAP") between Italy and the Netherlands for the 2013 tax year and the Italian tax authorities subsequently approved the inclusion of the tax years 2014 through 2018 in the MAP. Based on the Company's expectation that the Italian assessments for 2013 through 2018, and any transfer pricing assessments received for subsequent open years will be settled through the MAP process, and after considering potential resolution amounts, 18 million Euros ($19 million) have been reflected in unrecognized tax benefits, the majority of which is recorded to "Other assets, net" in the Consolidated Balance Sheets at June 30, 2023 and December 31, 2022. In December 2019, the Company made a partial prepayment of 10 million Euros ($11 million) for the 2013 assessment to avoid any collection enforcement from the Italian tax authorities pending the appeal phase of the case. The payment, net of a partial reduction for unrecognized tax benefits, is included in "Other assets, net" in the Consolidated Balance Sheets at June 30, 2023 and December 31, 2022, and does not constitute an admission that the Company owes the taxes and will be refunded (with interest) to the Company to the extent that the Company prevails. Similarly, during the year ended December 31, 2022, the Company made deposits totaling 64 million Euros ($70 million) for the 2014 through 2018 assessments. The payments are included in "Other assets, net" in the Consolidated Balance Sheets at June 30, 2023 and December 31, 2022. In June 2021, the investigative arm of the Italian tax authorities issued a Tax Audit Report recommending that a formal tax assessment of 154 million Euros ($168 million), plus interest and penalties, be made on Booking.com BV for value-added taxes ("VAT") related to commissions charged to certain Italian accommodation providers from 2013 to 2019. In connection with the Tax Audit Report, the Genoa Public Prosecutor has requested certain Booking.com tax information and related data. The Company is cooperating with regard to that request. While the Company continues to believe that Booking.com has been compliant with applicable VAT laws, in July 2023, the Company entered into an agreement with the Italian tax authorities to settle the issues raised in the Tax Audit Report for the periods 2013 through 2022 for approximately 93 million Euros, which was paid in July 2023. As of June 30, 2023 and December 31, 2022, the Company had a liability of 93 million Euros ($102 million) and 44 million Euros ($48 million), respectively, with respect to this matter, which is included in "Accrued expenses and other current liabilities" in the Consolidated Balance Sheets. In 2018 and 2019, Turkish tax authorities asserted that Booking.com had a permanent establishment in Turkey and issued tax assessments for the years 2012 through 2018 for approximately 855 million Turkish Lira ($33 million), which includes interest and penalties through June 30, 2023. In the second quarter of 2023, the Company applied the recently enacted tax amnesty to the tax cases for the years 2012 through 2017. Participation in the tax amnesty program allows for reduced payments to settle and close those cases, and does not constitute an admission that the Company accepts the merits of the assertions set forth by the Turkish tax authorities. In addition, the Company paid certain tax base increase amounts for the years 2018 through 2022 in accordance with the tax amnesty law, which forestalls any tax audits of these years for the local subsidiary of Booking.com. As a result, the Company has recorded liabilities for VAT, withholding taxes, and income taxes totaling 207 million Turkish Lira ($8 million) as of June 30, 2023, which are included in "Accrued expenses and other current liabilities" in the Company's Consolidated Balance Sheet. The Company will continue to litigate its Booking.com 2013 tax year income tax case and all of its Booking.com 2018 tax year cases. As of June 30, 2023, the Company has paid approximately 149 million Turkish Lira ($6 million) of the assessments in order to preserve its right to contest the 2018 tax year assessment. Such payment, which is included in "Other assets, net" in the Consolidated Balance Sheet at June 30, 2023, does not constitute an admission that the Company owes the taxes and will be refunded to the Company, plus interest, to the extent the Company prevails. The Company is also involved in other tax-related audits, investigations, and litigation relating to income taxes, value-added taxes, travel transaction taxes (e.g., hotel occupancy taxes), and other taxes. Any taxes or assessments in excess of the Company's tax provisions, including the resolution of any tax proceedings or litigation, could have a material adverse impact on the Company's results of operations, cash flows, and financial condition. Other Matters Beginning in 2014, Booking.com received several letters from the Netherlands Pension Fund for the Travel Industry (Reiswerk) ("BPF") claiming that Booking.com is required to participate in the mandatory pension scheme of the BPF with retroactive effect to 1999, which has a higher contribution rate than the pension scheme in which Booking.com is currently participating. BPF instituted legal proceedings against Booking.com and in 2016 the District Court of Amsterdam rejected all of BPF's claims. BPF appealed the decision to the Court of Appeal, and, in May 2019, the Court of Appeal also rejected all of BPF's claims, in each case by ruling that Booking.com does not meet the definition of a travel intermediary for purposes of the mandatory pension scheme. BPF then appealed to the Netherlands Supreme Court. In April 2021, the Supreme Court overturned the previous decision of the Court of Appeal and held that Booking.com meets the definition of a travel intermediary for the purposes of the mandatory pension scheme. The Supreme Court ruled only on the qualification of Booking.com as a travel intermediary for the purposes of the mandatory pension scheme and did not rule on the various other defenses brought forward by the Company against BPF's claims. The Supreme Court referred the matter to another Court of Appeal that will have to assess the other defenses brought forward by the Company. The Company intends to pursue a number of defenses in the subsequent proceedings and may ultimately prevail in whole or in part. While the Company continues to believe that Booking.com is in compliance with its pension obligations and that the Court of Appeal could ultimately rule in favor of Booking.com, given the Supreme Court's decision, the Company believes it is probable that it has incurred a loss related to this matter. The Company is not able to reasonably estimate a loss or a range of loss because there are significant factual and legal questions yet to be determined in the subsequent proceedings. As a result, as of June 30, 2023, the Company has not recorded a liability in connection with a potential adverse ultimate outcome to this litigation. However, if Booking.com were to ultimately lose and all of BPF's claims were to be accepted (including with retroactive effect to 1999), the Company estimates that as of June 30, 2023, the maximum loss, not including any potential interest or penalties, would be approximately 382 million Euros ($417 million). Such estimated potential loss increases as Booking.com continues not to contribute to the BPF and depends on Booking.com's applicable employee compensation after June 30, 2023. From time to time, the Company notifies the competent data protection authority, such as the Dutch data protection authority in accordance with its obligations under the General Data Protection Regulation, of certain incidental and accidental personal data security incidents. Should, for example, the Dutch data protection authority decide these incidents were the result of inadequate technical and organizational security measures or practices, it could decide to impose a fine. The Company has been, is currently, and expects to continue to be, subject to legal proceedings and claims in the ordinary course of business, including claims of alleged infringement of third-party intellectual property rights. Such claims, even if not meritorious, could result in the expenditure of significant financial and managerial resources, divert management's attention from the Company's business objectives and adversely affect the Company's business, results of operations, financial condition, and cash flows. The Company accrues for certain other contingencies where it is probable that a loss has been incurred and the amount can be reasonably estimated. Such accrued amounts are not material to the Company's balance sheets and provisions recorded have not been material to the Company's results of operations or cash flows. Other Contractual Obligations and Contingencies The Company had $919 million and $452 million of standby letters of credit and bank guarantees issued on behalf of the Company as of June 30, 2023 and December 31, 2022, respectively, including those issued under the revolving credit facility. These are obtained primarily for regulatory purposes. See Note 9 for information related to letters of credit issued under the revolving credit facility. Booking.com offers partner liability insurance that provides protection to certain accommodation partners ("home partners") in instances where a reservation has been made via Booking.com. The partner liability insurance may provide those home partners (both owners and property managers) coverage up to $1.0 million equivalent per occurrence, subject to limitations and exclusions, against third-party lawsuits, claims for bodily injury, or third-party personal property damage that occurred during a stay booked through Booking.com. Booking.com retains certain financial risks related to this insurance offering, which is underwritten by third-party insurance companies.

OTHER INCOME (EXPENSE), NET

OTHER INCOME (EXPENSE), NET	6 Months Ended
OTHER INCOME (EXPENSE), NET	Jun. 30, 2023
Other Income and Expenses [Abstract]
OTHER INCOME (EXPENSE), NET	OTHER INCOME (EXPENSE), NET The components of other income (expense), net for the three and six months ended June 30, 2023 and 2022 were as follows (in millions): Three Months Ended Six Months Ended 2023 2022 2023 2022 Interest and dividend income $ 266 $ 24 $ 494 $ 27 Net (losses) gains on equity securities (1) (34) 181 (167) (806) Foreign currency transaction (losses) gains (2) (48) 16 (101) 46 Other 2 (1) 7 (2) Other income (expense), net $ 186 $ 220 $ 233 $ (735) (1) Includes losses of $149 million related to the sale of Meituan during the six months ended June 30, 2023. See Note 5 for additional information related to net (losses) gains on equity securities and Note 6 for additional information related to impairments of an investment in equity securities.

OTHER

OTHER	6 Months Ended
OTHER	Jun. 30, 2023
Supplemental Cash Flow Information [Abstract]
OTHER	OTHER Unaudited Consolidated Statements of Cash Flows: Additional Information The following table reconciles cash and cash equivalents and restricted cash and cash equivalents reported in the Consolidated Balance Sheets to the total amounts shown in the Unaudited Consolidated Statements of Cash Flows (in millions): June 30, December 31, (Unaudited) As included in the Consolidated Balance Sheets: Cash and cash equivalents $ 14,602 $ 12,221 Restricted cash and cash equivalents (1) 28 30 Total cash and cash equivalents and restricted cash and cash equivalents as shown in the Unaudited Consolidated Statements of Cash Flows $ 14,630 $ 12,251 (1) Included in "Other current assets" in the Consolidated Balance Sheets and principally consist of amounts relating to the Company's travel-related insurance business. Noncash investing activity related to additions to property and equipment, including stock-based compensation and accrued liabilities, was $25 million and $27 million for the six months ended June 30, 2023 and 2022, respectively. See Note 10 for additional information on noncash financing activity related to the excise tax on share repurchases. Pending Acquisition In November 2021, the Company entered into an agreement to acquire global flight booking provider Etraveli Group for approximately 1.6 billion Euros ($1.8 billion). Completion of the acquisition is subject to certain closing conditions, including regulatory approvals. In June 2023, the Company received a statement of objections from the European Commission (the "EC") regarding the acquisition. The Company continues to address the EC’s concerns and in July 2023 submitted a proposed remedy for consideration. If regulatory approval is not obtained, a termination fee, which the Company does not consider to be material, may be payable to the sellers. Restructuring, Disposal, and Other Exit Activities

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Lynn Vojvodich Radakovich [Member]
Trading Arrangements, by Individual
Name	Lynn Vojvodich Radakovich
Title	Director
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 19, 2023
Arrangement Duration	372 days
Aggregate Available	455

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
BASIS OF PRESENTATION (Policies)	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Management of Booking Holdings Inc. (the "Company") is responsible for the Unaudited Consolidated Financial Statements included in this document. The Unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and include all normal and recurring adjustments that management of the Company considers necessary for a fair presentation of its financial position and operating results. The Company prepared the Unaudited Consolidated Financial Statements following the requirements of the Securities and Exchange Commission for interim reporting. As permitted under those rules, the Company condensed or omitted certain footnotes or other financial information that are normally required by U.S. GAAP for annual financial statements. These Unaudited Consolidated Financial Statements should be read in combination with the Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2022. The Unaudited Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries, including acquired businesses from the dates of acquisition. All intercompany accounts and transactions have been eliminated in consolidation. The functional currency of the Company's subsidiaries is generally the respective local currency. For international operations, assets and liabilities are translated into U.S. Dollars at the rate of exchange existing at the balance sheet date. Income statement amounts are translated at monthly average exchange rates applicable for the period. Translation gains and losses are included as a component of "Accumulated other comprehensive loss" in the accompanying Consolidated Balance Sheets. Foreign currency transaction gains and losses are included in "Other income (expense), net" in the Unaudited Consolidated Statements of Operations. Revenues, expenses, assets, and liabilities can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be the same as those for any subsequent quarter or the full year.
Reclassification	Reclassification Certain amounts from prior periods have been reclassified to conform to the current period presentation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements See "Recent Accounting Pronouncements Adopted" and "Other Recent Accounting Pronouncements" in Note 2 to the Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2022.
Definite-lived intangible assets amortization	Intangible assets are amortized on a straight-line basis.
Income Tax	Income tax expense consists of U.S. and international income taxes, determined using an estimate of the Company's annual effective tax rate, which is based upon the applicable tax rates and tax laws of the countries in which the income is generated. A deferred tax liability is recognized for all taxable temporary differences, and a deferred tax asset is recognized for all deductible temporary differences and operating loss and tax credit carryforwards. A valuation allowance is provided when it is more likely than not that some portion or all of a deferred tax asset will not be realized. The Company considers many factors when assessing the likelihood of future realization of the deferred tax assets, including its recent cumulative earnings experience by taxing jurisdiction, expectations of future income, tax planning strategies, the carryforward periods available for tax reporting purposes, and other relevant factors.

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
REVENUE (Tables)	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Geographic Information	The Company's geographic information on revenues is as follows (in millions): Outside of the U.S. United States The Netherlands Other Total Company Total revenues for the three months ended June 30, 2023 $ 615 $ 4,340 $ 507 $ 5,462 2022 $ 594 $ 3,340 $ 360 $ 4,294 Total revenues for the six months ended June 30, 2023 $ 1,138 $ 7,199 $ 903 $ 9,240 2022 $ 1,069 $ 5,309 $ 611 $ 6,989

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
STOCK-BASED COMPENSATION (Tables)	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Activity of Restricted Stock Units and Performance Share Units	The following table summarizes the activity in restricted stock units and performance share units for employees and non-employee directors during the six months ended June 30, 2023: Restricted Stock Units Performance Share Units Shares Weighted-average Grant-date Fair Value Shares Weighted-average Grant-date Fair Value Unvested at December 31, 2022 (1) 280,460 $2,070 143,702 $2,294 Granted (2) 163,120 $2,621 51,941 $2,679 Vested (127,428) $1,984 (30,118) $2,327 Performance shares adjustment (3) 33,096 $2,411 Forfeited (9,586) $2,283 (7,141) $2,262 Unvested at June 30, 2023 306,566 $2,392 191,480 $2,415 (1) Excludes 14,087 performance share units awarded during the years ended December 31, 2022 and 2021 for which the grant date under Accounting Standards Codification ("ASC") 718, Compensation - Stock Compensation , was not established as of December 31, 2022. Among other conditions, for the grant date to be established, a mutual understanding is required to be reached between the Company and the employee of the key terms and conditions of the award, including the performance targets. The performance targets for each of the annual performance periods under the award are set at the beginning of the respective year. (2) Includes 9,688 performance share units awarded during the years ended December 31, 2022 and 2021 for which the grant date under ASC 718 was established. (3) Probable outcome for performance-based awards is updated based upon changes in actual and forecasted operating results or expected achievement of performance goals, as applicable, and the impact of modifications.
Activity of Stock Options	The following table summarizes the activity in stock options during the six months ended June 30, 2023: Employee Stock Options Number of Shares Weighted-average Exercise Price Aggregate Weighted-average Remaining Contractual Term Balance, December 31, 2022 120,813 $1,408 $ 73 7.3 Exercised (77,099) $1,411 Forfeited (62) $1,411 Balance, June 30, 2023 43,652 $1,404 $ 57 6.8 Exercisable at June 30, 2023 43,652 $1,404 $ 57 6.8

NET INCOME PER SHARE (Tables)

NET INCOME PER SHARE (Tables)	6 Months Ended
NET INCOME PER SHARE (Tables)	Jun. 30, 2023
Earnings Per Share [Abstract]
Reconciliation of the weighted-average number of shares outstanding used in calculating diluted net income per share	A reconciliation of the weighted-average number of shares outstanding used in calculating diluted net income per share is as follows (in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Weighted-average number of basic common shares outstanding 36,678 40,512 37,147 40,715 Weighted-average dilutive stock options, restricted stock units, and performance share units 157 111 200 168 Assumed conversion of convertible senior notes 129 42 124 44 Weighted-average number of diluted common and common equivalent shares outstanding 36,964 40,665 37,471 40,927

INVESTMENTS (Tables)

INVESTMENTS (Tables)	6 Months Ended
INVESTMENTS (Tables)	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	The following table summarizes the Company's investments by major security type at June 30, 2023 (in millions): Cost Gross Gross Carrying Value Short-term investments: Debt securities: International government securities $ 67 $ — $ (1) $ 66 U.S. government securities (1) 218 — (3) 215 Corporate debt securities 365 — (6) 359 Total short-term investments $ 650 $ — $ (10) $ 640 Long-term investments: Debt securities: International government securities $ 9 $ — $ — $ 9 U.S. government securities 3 — — 3 Corporate debt securities 25 — (1) 24 Total debt securities 37 — (1) 36 Equity securities: Equity securities with readily determinable fair values 715 — (440) 275 Equity securities of private companies 78 259 (208) 129 Total equity securities 793 259 (648) 404 Total long-term investments $ 830 $ 259 $ (649) $ 440 (1) Includes investments in U.S. municipal bonds. The following table summarizes the Company's investments by major security type at December 31, 2022 (in millions): Cost Gross Gross Unrealized Losses/Downward Adjustments Carrying Value Short-term investments: Debt securities: International government securities $ 13 $ — $ — $ 13 U.S. government securities (1) 131 — (1) 130 Corporate debt securities 32 — — 32 Total short-term investments $ 176 $ — $ (1) $ 175 Long-term investments: Debt securities: International government securities $ 63 $ — $ (1) $ 62 U.S. government securities (1) 147 — (3) 144 Corporate debt securities 366 — (7) 359 Total debt securities 576 — (11) 565 Equity securities: Equity securities with readily determinable fair values 1,165 1,352 (446) 2,071 Equity securities of private companies 78 259 (184) 153 Total equity securities 1,243 1,611 (630) 2,224 Total long-term investments $ 1,819 $ 1,611 $ (641) $ 2,789 (1) Includes investments in U.S. municipal bonds.
Unrealized Gains (Losses) on Investments	Net unrealized gains (losses) related to these investments included in "Other income (expense), net" in the Unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2023 and 2022 were as follows (in millions): Three Months Ended Six Months Ended 2023 2022 2023 2022 Grab $ 18 $ (41) $ 9 $ (194) DiDi (32) 18 (7) (79) Meituan — 393 — (335)

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis and Nonrecurring Fair Value Measurements	Financial assets and liabilities measured at fair value on a recurring basis at June 30, 2023 and nonrecurring fair value measurements are classified in the categories described in the table below (in millions): Level 1 Level 2 Level 3 Total Recurring fair value measurements ASSETS: Cash equivalents and restricted cash equivalents: Money market fund investments $ 13,597 $ — $ — $ 13,597 Certificates of deposit 29 — — 29 Short-term investments: International government securities — 66 — 66 U.S. government securities — 215 — 215 Corporate debt securities — 359 — 359 Long-term investments: International government securities — 9 — 9 U.S. government securities — 3 — 3 Corporate debt securities — 24 — 24 Equity securities 275 — — 275 Derivatives: Foreign currency exchange derivatives — 49 — 49 Total assets at fair value $ 13,901 $ 725 $ — $ 14,626 LIABILITIES: Foreign currency exchange derivatives $ — $ 84 $ — $ 84 Nonrecurring fair value measurements Investment in equity securities of a private company (1) $ — $ — $ 98 $ 98 (1) As of June 30, 2023, the investment in Yanolja was written down to its estimated fair value (see Note 5). Financial assets and liabilities measured at fair value on a recurring basis at December 31, 2022 and nonrecurring fair value measurements are classified in the categories described in the table below (in millions): Level 1 Level 2 Level 3 Total Recurring fair value measurements ASSETS: Cash equivalents and restricted cash equivalents: Money market fund investments $ 11,483 $ — $ — $ 11,483 Certificates of deposit 60 — — 60 Short-term investments: International government securities — 13 — 13 U.S. government securities — 130 — 130 Corporate debt securities — 32 — 32 Long-term investments: International government securities — 62 — 62 U.S. government securities — 144 — 144 Corporate debt securities — 359 — 359 Equity securities 2,071 — — 2,071 Derivatives: Foreign currency exchange derivatives — 65 — 65 Total assets at fair value $ 13,614 $ 805 $ — $ 14,419 LIABILITIES: Foreign currency exchange derivatives $ — $ 26 $ — $ 26 Nonrecurring fair value measurements Investment in equity securities of a private company (1) $ — $ — $ 122 $ 122 (1) During the year ended December 31, 2022, the investment in Yanolja was written down to its estimated fair value.
Fair Value and the Notional Amount of Derivatives and the Effect of Foreign Currency Exchange Derivatives	The table below provides estimated fair values and notional amounts of foreign currency exchange derivatives outstanding at June 30, 2023 and December 31, 2022 (in millions). The notional amount of a foreign currency forward contract is the contracted amount of foreign currency to be exchanged and is not recorded in the balance sheets. June 30, December 31, Estimated fair value of derivative assets $ 49 $ 65 Estimated fair value of derivative liabilities $ 84 $ 26 Notional amount: Foreign currency purchases $ 4,320 $ 2,870 Foreign currency sales $ 4,588 $ 2,682 The effect of foreign currency exchange derivatives recorded in "Other income (expense), net" in the Unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2023 and 2022 is as follows (in millions): Three Months Ended Six Months Ended 2023 2022 2023 2022 Losses on foreign currency exchange derivatives $ 67 $ 40 $ 84 $ 56

ACCOUNTS RECEIVABLE AND OTHER_2

ACCOUNTS RECEIVABLE AND OTHER FINANCIAL ASSETS (Tables)	6 Months Ended
ACCOUNTS RECEIVABLE AND OTHER FINANCIAL ASSETS (Tables)	Jun. 30, 2023
Receivables [Abstract]
Activity of the allowance for expected credit losses on receivables	The following table summarizes the activity of the allowance for expected credit losses on receivables (in millions): Six Months Ended 2023 2022 Balance, beginning of year $ 117 $ 101 Provision charged to earnings 60 59 Write-offs and adjustments (92) (52) Foreign currency translation adjustments 2 (6) Balance, end of period $ 87 $ 102
Activity of the allowance for expected credit losses on prepayments to customers	The following table summarizes the activity of the allowance for expected credit losses on prepayments to customers (in millions): Six Months Ended 2023 2022 Balance, beginning of year $ 23 $ 47 Provision charged to expense 2 (8) Write-offs and adjustments (2) (4) Balance, end of period $ 23 $ 35

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	6 Months Ended
INTANGIBLE ASSETS AND GOODWILL (Tables)	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	The Company's intangible assets at June 30, 2023 and December 31, 2022 consist of the following (in millions): June 30, 2023 December 31, 2022 Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Amortization Period Supply and distribution agreements $ 1,397 $ (711) $ 686 $ 1,386 $ (658) $ 728 3 - 20 years Technology 286 (202) 84 287 (185) 102 2 - 7 years Trade names 1,810 (862) 948 1,806 (812) 994 3 - 20 years Other intangible assets 44 (40) 4 43 (38) 5 Up to 20 years Total intangible assets $ 3,537 $ (1,815) $ 1,722 $ 3,522 $ (1,693) $ 1,829

DEBT (Tables)

DEBT (Tables)	6 Months Ended
DEBT (Tables)	Jun. 30, 2023
Debt Disclosure [Abstract]
Summary of Outstanding Debt	Outstanding debt at June 30, 2023 consists of the following (in millions): June 30, 2023 Outstanding Principal Amount Unamortized Debt Carrying Value Current liabilities: 0.75% Convertible Senior Notes due May 2025 $ 863 $ (8) $ 855 Total current liabilities $ 863 $ (8) $ 855 Long-term debt: 2.375% (€1 Billion) Senior Notes due September 2024 $ 1,091 $ (2) $ 1,089 3.65% Senior Notes due March 2025 500 (1) 499 0.1% (€950 Million) Senior Notes due March 2025 1,036 (2) 1,034 3.6% Senior Notes due June 2026 1,000 (2) 998 4.0% (€750 Million) Senior Notes due November 2026 818 (3) 815 1.8% (€1 Billion) Senior Notes due March 2027 1,091 (2) 1,089 3.55% Senior Notes due March 2028 500 (2) 498 0.5% (€750 Million) Senior Notes due March 2028 818 (3) 815 3.625% (€500 Million) Senior Notes due November 2028 546 (4) 542 4.25% (€750 Million) Senior Notes due May 2029 818 (5) 813 4.625% Senior Notes due April 2030 1,500 (8) 1,492 4.5% (€1 Billion) Senior Notes due November 2031 1,091 (7) 1,084 4.125% (€1.25 Billion) Senior Notes due May 2033 1,364 (16) 1,348 4.75% (€1 Billion) Senior Notes due November 2034 1,091 (9) 1,082 Total long-term debt $ 13,264 $ (66) $ 13,198 Outstanding debt at December 31, 2022 consists of the following (in millions): December 31, 2022 Outstanding Unamortized Debt Carrying Value Current liabilities: 2.75% Senior Notes due March 2023 $ 500 $ — $ 500 Total current liabilities $ 500 $ — $ 500 Long-term debt: 2.375% (€1 Billion) Senior Notes due September 2024 $ 1,067 $ (3) $ 1,064 3.65% Senior Notes due March 2025 500 (1) 499 0.1% (€950 Million) Senior Notes due March 2025 1,014 (3) 1,011 0.75% Convertible Senior Notes due May 2025 863 (9) 854 3.6% Senior Notes due June 2026 1,000 (3) 997 4.0% (€750 Million) Senior Notes due November 2026 800 (3) 797 1.8% (€1 Billion) Senior Notes due March 2027 1,067 (2) 1,065 3.55% Senior Notes due March 2028 500 (2) 498 0.5% (€750 Million) Senior Notes due March 2028 800 (3) 797 4.25% (€750 Million) Senior Notes due May 2029 800 (6) 794 4.625% Senior Notes due April 2030 1,500 (9) 1,491 4.5% (€1 Billion) Senior Notes due November 2031 1,067 (7) 1,060 4.75% (€1 Billion) Senior Notes due November 2034 1,067 (9) 1,058 Total long-term debt $ 12,045 $ (60) $ 11,985

TREASURY STOCK (Tables)

TREASURY STOCK (Tables)	6 Months Ended
TREASURY STOCK (Tables)	Jun. 30, 2023
Equity [Abstract]
Schedule of Stock Repurchase Activity	The following table summarizes the Company's stock repurchase activities during the three and six months ended June 30, 2023 and 2022 (in millions, except for shares, which are reflected in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Shares Amount Shares Amount Shares Amount Shares Amount Authorized stock repurchase programs 1,177 $ 3,138 612 $ 1,271 1,989 $ 5,160 1,026 $ 2,219 General authorization for shares withheld on stock award vesting 1 3 1 3 67 176 74 155 Total 1,178 $ 3,141 613 $ 1,274 2,056 $ 5,336 1,100 $ 2,374

CHANGES IN ACCUMULATED OTHER _2

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS BY COMPONENT (Tables)	6 Months Ended
	Jun. 30, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Changes in the Balances of Accumulated Other Comprehensive Loss	The tables below present the changes in the balances of accumulated other comprehensive loss ("AOCI") by component for the three and six months ended June 30, 2023 and 2022 (in millions): Foreign currency translation adjustments Net unrealized (losses) gains on available-for-sale securities Total AOCI, net of tax Foreign currency translation Net investment hedges (1) Total, net of tax Before tax Tax Total, net of tax Before tax Tax (2) Before tax Tax Three Months Ended June 30, 2023 Balance, March 31, 2023 $ (474) $ 72 $ 197 $ (54) $ (259) $ (10) $ 2 $ (8) $ (267) Other comprehensive income (loss) ("OCI") for the period (2) 4 (34) 8 (24) (1) 1 — (24) Balance, June 30, 2023 $ (476) $ 76 $ 163 $ (46) $ (283) $ (11) $ 3 $ (8) $ (291) Six Months Ended June 30, 2023 Balance, December 31, 2022 $ (579) $ 93 $ 310 $ (81) $ (257) $ (13) $ 3 $ (10) $ (267) OCI for the period 103 (17) (147) 35 (26) 2 — 2 (24) Balance, June 30, 2023 $ (476) $ 76 $ 163 $ (46) $ (283) $ (11) $ 3 $ (8) $ (291) Three Months Ended June 30, 2022 Balance, March 31, 2022 $ (411) $ 74 $ 208 $ (55) $ (184) $ 2 $ (1) $ 1 $ (183) OCI for the period (306) 38 262 (64) (70) 1 — 1 (69) Balance, June 30, 2022 $ (717) $ 112 $ 470 $ (119) $ (254) $ 3 $ (1) $ 2 $ (252) Six Months Ended June 30, 2022 Balance, December 31, 2021 $ (276) $ 67 $ 91 $ (28) $ (146) $ 3 $ (1) $ 2 $ (144) OCI for the period (441) 45 379 (91) (108) — — — (108) Balance, June 30, 2022 $ (717) $ 112 $ 470 $ (119) $ (254) $ 3 $ (1) $ 2 $ (252) (1) Net investment hedges balance at June 30, 2023 and earlier dates presented above, includes accumulated net losses from fair value adjustments of $35 million ($53 million before tax) associated with previously settled derivatives that were designated as net investment hedges. The remaining balances relate to foreign currency transaction gains (losses) and related tax benefits (expenses) associated with the Company's Euro-denominated debt that is designated as a hedge of the foreign currency exposure of the net investment in certain Euro functional currency subsidiaries (see Note 9). (2) The tax benefits relate to foreign currency translation adjustments to the Company's one-time deemed repatriation tax liability recorded at December 31, 2017 and foreign earnings for periods after December 31, 2017 that are subject to U.S. federal and state income tax, resulting from the enactment of the U.S. Tax Cuts and Jobs Act (the "Tax Act").

OTHER INCOME (EXPENSE), NET (Ta

OTHER INCOME (EXPENSE), NET (Tables)	3 Months Ended
OTHER INCOME (EXPENSE), NET (Tables)	Jun. 30, 2023
Other Income and Expenses [Abstract]
Components of other income (expense), net	The components of other income (expense), net for the three and six months ended June 30, 2023 and 2022 were as follows (in millions): Three Months Ended Six Months Ended 2023 2022 2023 2022 Interest and dividend income $ 266 $ 24 $ 494 $ 27 Net (losses) gains on equity securities (1) (34) 181 (167) (806) Foreign currency transaction (losses) gains (2) (48) 16 (101) 46 Other 2 (1) 7 (2) Other income (expense), net $ 186 $ 220 $ 233 $ (735) (1) Includes losses of $149 million related to the sale of Meituan during the six months ended June 30, 2023. See Note 5 for additional information related to net (losses) gains on equity securities and Note 6 for additional information related to impairments of an investment in equity securities.

OTHER (Tables)

OTHER (Tables)	6 Months Ended
OTHER (Tables)	Jun. 30, 2023
Supplemental Cash Flow Information [Abstract]
Reconciliation of Cash and Cash Equivalents and Restricted Cash and Cash Equivalents	The following table reconciles cash and cash equivalents and restricted cash and cash equivalents reported in the Consolidated Balance Sheets to the total amounts shown in the Unaudited Consolidated Statements of Cash Flows (in millions): June 30, December 31, (Unaudited) As included in the Consolidated Balance Sheets: Cash and cash equivalents $ 14,602 $ 12,221 Restricted cash and cash equivalents (1) 28 30 Total cash and cash equivalents and restricted cash and cash equivalents as shown in the Unaudited Consolidated Statements of Cash Flows $ 14,630 $ 12,251 (1) Included in "Other current assets" in the Consolidated Balance Sheets and principally consist of amounts relating to the Company's travel-related insurance business.

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 5,462	$ 4,294	$ 9,240	$ 6,989
Online accommodation reservation services \| Revenue Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	89%	88%	89%	87%
Other sources of online travel reservation services and advertising and other revenues \| Revenue Benchmark \| Product Concentration Risk \| Maximum
Disaggregation of Revenue [Line Items]
Concentration risk percentage	10%	10%	10%	10%
United States
Disaggregation of Revenue [Line Items]
Revenues	$ 615	$ 594	$ 1,138	$ 1,069
The Netherlands
Disaggregation of Revenue [Line Items]
Revenues	4,340	3,340	7,199	5,309
Other
Disaggregation of Revenue [Line Items]
Revenues	$ 507	$ 360	$ 903	$ 611

REVENUE - Incentive Programs (D

REVENUE - Incentive Programs (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Accrued expenses and other current liabilities \| Incentives Programs
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Liabilities for incentives granted to customers	$ 173	$ 143

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate grant-date fair value of performance share units and restricted stock units granted during the period	$ 12	$ 567
Aggregate fair value of performance share units and restricted stock units vested during the period	10	411
Restricted Stock Units and Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized estimated compensation expense, unvested share-based awards	$ 885	$ 885
Total future compensation cost related to unvested share-based awards, expected period of recognition		2 years 1 month 6 days

STOCK-BASED COMPENSATION - Summ

STOCK-BASED COMPENSATION - Summary of Share-Based Compensation Activity (Details) - $ / shares		6 Months Ended	24 Months Ended
		Jun. 30, 2023	Dec. 31, 2022
Restricted Stock Units
Shares
Unvested, beginning of period (in shares)		280,460
Granted (in shares)		163,120
Vested (in shares)		(127,428)
Forfeited (in shares)		(9,586)
Unvested, end of period (in shares)		306,566	280,460
Weighted-average Grant-date Fair Value
Unvested, beginning of period (in dollars per share)		$ 2,070
Granted (in dollars per share)		2,621
Vested (in dollars per share)		1,984
Forfeited (in dollars per share)		2,283
Unvested, end of period (in dollars per share)		$ 2,392	$ 2,070
Performance Share Units
Shares
Unvested, beginning of period (in shares)	[1]	143,702
Granted (in shares)	[2]	51,941
Vested (in shares)		(30,118)
Performance shares adjustment (in shares)	[3]	33,096
Forfeited (in shares)		(7,141)
Unvested, end of period (in shares)		191,480	143,702	[1]
Weighted-average Grant-date Fair Value
Unvested, beginning of period (in dollars per share)	[1]	$ 2,294
Granted (in dollars per share)	[2]	2,679
Vested (in dollars per share)		2,327
Performance shares adjustment (in dollars per share)	[3]	2,411
Forfeited (in dollars per share)		2,262
Unvested, end of period (in dollars per share)		$ 2,415	$ 2,294	[1]
Performance Share Units 2021 and 2022 Grants \| Performance Share Units
Weighted-average Grant-date Fair Value
Performance share units awarded during the period where a grant date was not yet established. (in shares)			14,087
Performance share units awarded during the period where a grant date was established. (in shares)		9,688

[1]Excludes 14,087 performance share units awarded during the years ended December 31, 2022 and 2021 for which the grant date under Accounting Standards Codification ("ASC") 718, Compensation - Stock Compensation , was not established as of December 31, 2022. Among other conditions, for the grant date to be established, a mutual understanding is required to be reached between the Company and the employee of the key terms and conditions of the award, including the performance targets. The performance targets for each of the annual performance periods under the award are set at the beginning of the respective year.

STOCK-BASED COMPENSATION - Su_2

STOCK-BASED COMPENSATION - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Weighted-average Remaining Contractual Term
Intrinsic value of options exercised during the period	$ 3	$ 92
Stock Options
Number of Shares
Balance, beginning of period (in shares)		120,813
Exercised (in shares)		(77,099)
Forfeited (in shares)		(62)
Balance, end of period (in shares)	43,652	43,652	120,813
Exercisable (in shares)	43,652	43,652
Weighted-average Exercise Price
Balance, beginning of period (in dollars per share)		$ 1,408
Exercised (in dollars per share)		1,411
Forfeited (in dollars per share)		1,411
Balance, end of period (in dollars per share)	$ 1,404	1,404	$ 1,408
Exercisable (in dollars per share)	$ 1,404	$ 1,404
Aggregate Intrinsic Value
Balance	$ 57	$ 57	$ 73
Exercisable	$ 57	$ 57
Weighted-average Remaining Contractual Term
Balance		6 years 9 months 18 days	7 years 3 months 18 days
Exercisable		6 years 9 months 18 days

NET INCOME PER SHARE (Details)

NET INCOME PER SHARE (Details) - shares	3 Months Ended		6 Months Ended
NET INCOME PER SHARE (Details) - shares	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Weighted-average number of basic common shares outstanding (in shares)	36,678,000	40,512,000	37,147,000	40,715,000
Weighted-average dilutive stock options, restricted stock units and performance share units (in shares)	157,000	111,000	200,000	168,000
Assumed conversion of convertible senior notes (in shares)	129,000	42,000	124,000	44,000
Weighted-average number of diluted common and common equivalent shares outstanding (in shares)	36,964,000	40,665,000	37,471,000	40,927,000
Anti-dilutive potential common shares (in shares)			29,040

INVESTMENTS - Summary of Invest

INVESTMENTS - Summary of Investments by Major Security Type (Details) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022
Debt securities:
Cost		$ 650	$ 176
Gross Unrealized Gains /Upward Adjustments		0	0
Gross Unrealized Losses /Downward Adjustments		(10)	(1)
Carrying Value		640	175
Equity securities:
Cost		830	1,819
Gross Unrealized Gains /Upward Adjustments		259	1,611
Gross Unrealized Losses /Downward Adjustments		(649)	(641)
Carrying Value		440	2,789
Short-term Investments
Debt securities:
Cost		650	176
Long-term Investments
Debt securities:
Cost		37	576
Gross Unrealized Gains/Upward Adjustments		0	0
Gross Unrealized Losses/Downward Adjustments		(1)	(11)
Carrying Value		36	565
Equity securities:
Cost		793	1,243
Gross Unrealized Gains /Upward Adjustments		259	1,611
Gross Unrealized Losses /Downward Adjustments		(648)	(630)
Carrying Value		404	2,224
International government securities \| Short-term Investments
Debt securities:
Cost		67	13
Gross Unrealized Gains/Upward Adjustments		0	0
Gross Unrealized Losses/Downward Adjustments		(1)	0
Carrying Value		66	13
International government securities \| Long-term Investments
Debt securities:
Cost		9	63
Gross Unrealized Gains/Upward Adjustments		0	0
Gross Unrealized Losses/Downward Adjustments		0	(1)
Carrying Value		9	62
U.S. government securities \| Short-term Investments
Debt securities:
Cost	[1]	218	131
Gross Unrealized Gains/Upward Adjustments	[1]	0	0
Gross Unrealized Losses/Downward Adjustments	[1]	(3)	(1)
Carrying Value	[1]	215	130
U.S. government securities \| Long-term Investments
Debt securities:
Cost		3	147	[1]
Gross Unrealized Gains/Upward Adjustments		0	0	[1]
Gross Unrealized Losses/Downward Adjustments		0	(3)	[1]
Carrying Value		3	144	[1]
Corporate debt securities \| Short-term Investments
Debt securities:
Cost		365	32
Gross Unrealized Gains/Upward Adjustments		0	0
Gross Unrealized Losses/Downward Adjustments		(6)	0
Carrying Value		359	32
Corporate debt securities \| Long-term Investments
Debt securities:
Cost		25	366
Gross Unrealized Gains/Upward Adjustments		0	0
Gross Unrealized Losses/Downward Adjustments		(1)	(7)
Carrying Value		24	359
Equity securities with readily determinable fair values \| Long-term Investments
Equity securities:
Cost		715	1,165
Gross Unrealized Gains /Upward Adjustments		0	1,352
Gross Unrealized Losses /Downward Adjustments		(440)	(446)
Carrying Value		275	2,071
Equity securities of private companies \| Long-term Investments
Equity securities:
Cost		78	78
Gross Unrealized Gains /Upward Adjustments		259	259
Gross Unrealized Losses /Downward Adjustments		(208)	(184)
Carrying Value		$ 129	$ 153

[1]Includes investments in U.S. municipal bonds.

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
INVESTMENTS - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Schedule of Investments [Line Items]
Proceeds from sale and maturity of investments			$ 1,737	$ 0
Minimum
Schedule of Investments [Line Items]
Term of available-for-sale debt securities (in years)	1 year		1 year
Maximum
Schedule of Investments [Line Items]
Term of available-for-sale debt securities (in years)	2 years		2 years
Equity securities with readily determinable fair values \| Long-term Investments
Schedule of Investments [Line Items]
Equity securities, fair value	$ 275		$ 275		$ 2,071
Cost	715		715		1,165
Equity securities of private companies \| Long-term Investments
Schedule of Investments [Line Items]
Cost of investment without readily determinable fair values	78		78		78
Investment in equity securities without readily determinable FV	129		129		153
Grab
Schedule of Investments [Line Items]
Equity securities, fair value	145		145		136
Unrealized gain (loss) equity securities	18	$ (41)	9	(194)
DiDi
Schedule of Investments [Line Items]
Equity securities, fair value	118		118		125
Unrealized gain (loss) equity securities	(32)	18	(7)	(79)
Meituan
Schedule of Investments [Line Items]
Equity securities, fair value					1,800
Unrealized gain (loss) equity securities	0	393	0	(335)
Proceeds from sale and maturity of investments			1,700
Net loss on equity securities			149
Cost					450
Yanolja \| Equity securities of private companies
Schedule of Investments [Line Items]
Cost of investment without readily determinable fair values	51		51		51
Equity securities, impairment loss, annual amount	24	$ 184	24	$ 184
Investment in equity securities without readily determinable FV	$ 98		$ 98		$ 122

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial Assets and Liabilities Carried at Fair Value (Details) $ in Millions	Jun. 30, 2023 USD ($)		Dec. 31, 2022 USD ($)		Jun. 30, 2022
Yanolja \| Weighted average cost of capital \| Income Approach \| Minimum
LIABILITIES:
Equity securities, fair value measurement input	0.105				0.10
Yanolja \| Weighted average cost of capital \| Income Approach \| Maximum
LIABILITIES:
Equity securities, fair value measurement input	0.145				0.14
Yanolja \| Terminal EBITDA Multiple \| Income Approach \| Minimum
LIABILITIES:
Equity securities, fair value measurement input	14				14
Yanolja \| Terminal EBITDA Multiple \| Income Approach \| Maximum
LIABILITIES:
Equity securities, fair value measurement input	16				16
Yanolja \| EBITDA Multiple Decrease \| Market Approach
LIABILITIES:
Equity securities, fair value measurement input					0.36
Recurring Basis
ASSETS:
Assets at fair value	$ 14,626		$ 14,419
Recurring Basis \| Money market fund investments \| Cash Equivalents and Restricted Cash Equivalents
ASSETS:
Assets at fair value	13,597		11,483
Recurring Basis \| Certificates of deposit \| Cash Equivalents and Restricted Cash Equivalents
ASSETS:
Assets at fair value	29		60
Recurring Basis \| International government securities \| Short-term Investments
ASSETS:
Assets at fair value	66		13
Recurring Basis \| International government securities \| Long-term Investments
ASSETS:
Assets at fair value	9		62
Recurring Basis \| U.S. government securities \| Short-term Investments
ASSETS:
Assets at fair value	215		130
Recurring Basis \| U.S. government securities \| Long-term Investments
ASSETS:
Assets at fair value	3		144
Recurring Basis \| Corporate debt securities \| Short-term Investments
ASSETS:
Assets at fair value	359		32
Recurring Basis \| Corporate debt securities \| Long-term Investments
ASSETS:
Assets at fair value	24		359
Recurring Basis \| Equity securities with readily determinable fair values \| Long-term Investments
ASSETS:
Assets at fair value	275		2,071
Recurring Basis \| Not Designated as Hedging Instrument \| Foreign currency exchange derivatives
ASSETS:
Assets at fair value	49		65
LIABILITIES:
Liabilities at fair value	84		26
Nonrecurring Basis \| Equity securities of private companies \| Long-term Investments
ASSETS:
Assets at fair value	98	[1]	122	[2]
Level 1 \| Recurring Basis
ASSETS:
Assets at fair value	13,901		13,614
Level 1 \| Recurring Basis \| Money market fund investments \| Cash Equivalents and Restricted Cash Equivalents
ASSETS:
Assets at fair value	13,597		11,483
Level 1 \| Recurring Basis \| Certificates of deposit \| Cash Equivalents and Restricted Cash Equivalents
ASSETS:
Assets at fair value	29		60
Level 1 \| Recurring Basis \| International government securities \| Short-term Investments
ASSETS:
Assets at fair value	0		0
Level 1 \| Recurring Basis \| International government securities \| Long-term Investments
ASSETS:
Assets at fair value	0		0
Level 1 \| Recurring Basis \| U.S. government securities \| Short-term Investments
ASSETS:
Assets at fair value	0		0
Level 1 \| Recurring Basis \| U.S. government securities \| Long-term Investments
ASSETS:
Assets at fair value	0		0
Level 1 \| Recurring Basis \| Corporate debt securities \| Short-term Investments
ASSETS:
Assets at fair value	0		0
Level 1 \| Recurring Basis \| Corporate debt securities \| Long-term Investments
ASSETS:
Assets at fair value	0		0
Level 1 \| Recurring Basis \| Equity securities with readily determinable fair values \| Long-term Investments
ASSETS:
Assets at fair value	275		2,071
Level 1 \| Recurring Basis \| Not Designated as Hedging Instrument \| Foreign currency exchange derivatives
ASSETS:
Assets at fair value	0		0
LIABILITIES:
Liabilities at fair value	0		0
Level 1 \| Nonrecurring Basis \| Equity securities of private companies \| Long-term Investments
ASSETS:
Assets at fair value	0	[1]	0	[2]
Level 2 \| Recurring Basis
ASSETS:
Assets at fair value	725		805
Level 2 \| Recurring Basis \| Money market fund investments \| Cash Equivalents and Restricted Cash Equivalents
ASSETS:
Assets at fair value	0		0
Level 2 \| Recurring Basis \| Certificates of deposit \| Cash Equivalents and Restricted Cash Equivalents
ASSETS:
Assets at fair value	0		0
Level 2 \| Recurring Basis \| International government securities \| Short-term Investments
ASSETS:
Assets at fair value	66		13
Level 2 \| Recurring Basis \| International government securities \| Long-term Investments
ASSETS:
Assets at fair value	9		62
Level 2 \| Recurring Basis \| U.S. government securities \| Short-term Investments
ASSETS:
Assets at fair value	215		130
Level 2 \| Recurring Basis \| U.S. government securities \| Long-term Investments
ASSETS:
Assets at fair value	3		144
Level 2 \| Recurring Basis \| Corporate debt securities \| Short-term Investments
ASSETS:
Assets at fair value	359		32
Level 2 \| Recurring Basis \| Corporate debt securities \| Long-term Investments
ASSETS:
Assets at fair value	24		359
Level 2 \| Recurring Basis \| Equity securities with readily determinable fair values \| Long-term Investments
ASSETS:
Assets at fair value	0		0
Level 2 \| Recurring Basis \| Not Designated as Hedging Instrument \| Foreign currency exchange derivatives
ASSETS:
Assets at fair value	49		65
LIABILITIES:
Liabilities at fair value	84		26
Level 2 \| Nonrecurring Basis \| Equity securities of private companies \| Long-term Investments
ASSETS:
Assets at fair value	0	[1]	0	[2]
Level 3 \| Recurring Basis
ASSETS:
Assets at fair value	0		0
Level 3 \| Recurring Basis \| Money market fund investments \| Cash Equivalents and Restricted Cash Equivalents
ASSETS:
Assets at fair value	0		0
Level 3 \| Recurring Basis \| Certificates of deposit \| Cash Equivalents and Restricted Cash Equivalents
ASSETS:
Assets at fair value	0		0
Level 3 \| Recurring Basis \| International government securities \| Short-term Investments
ASSETS:
Assets at fair value	0		0
Level 3 \| Recurring Basis \| International government securities \| Long-term Investments
ASSETS:
Assets at fair value	0		0
Level 3 \| Recurring Basis \| U.S. government securities \| Short-term Investments
ASSETS:
Assets at fair value	0		0
Level 3 \| Recurring Basis \| U.S. government securities \| Long-term Investments
ASSETS:
Assets at fair value	0		0
Level 3 \| Recurring Basis \| Corporate debt securities \| Short-term Investments
ASSETS:
Assets at fair value	0		0
Level 3 \| Recurring Basis \| Corporate debt securities \| Long-term Investments
ASSETS:
Assets at fair value	0		0
Level 3 \| Recurring Basis \| Equity securities with readily determinable fair values \| Long-term Investments
ASSETS:
Assets at fair value	0		0
Level 3 \| Recurring Basis \| Not Designated as Hedging Instrument \| Foreign currency exchange derivatives
ASSETS:
Assets at fair value	0		0
LIABILITIES:
Liabilities at fair value	0		0
Level 3 \| Nonrecurring Basis \| Equity securities of private companies \| Long-term Investments
ASSETS:
Assets at fair value	$ 98	[1]	$ 122	[2]

[1]As of June 30, 2023, the investment in Yanolja was written down to its estimated fair value (see Note 5).[2]During the year ended December 31, 2022, the investment in Yanolja was written down to its estimated fair value.

FAIR VALUE MEASUREMENTS - Notio

FAIR VALUE MEASUREMENTS - Notional Amount of Foreign Currency Exchange Derivatives (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Losses on foreign currency exchange derivatives	$ 67	$ 40	$ 84	$ 56
Recurring Basis
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets at fair value	14,626		14,626		$ 14,419
Recurring Basis \| Level 2
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets at fair value	725		725		805
Foreign currency exchange derivatives \| Not Designated as Hedging Instrument \| Foreign currency purchases
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	4,320		4,320		2,870
Foreign currency exchange derivatives \| Not Designated as Hedging Instrument \| Foreign currency sales
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	4,588		4,588		2,682
Foreign currency exchange derivatives \| Not Designated as Hedging Instrument \| Recurring Basis
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets at fair value	49		49		65
Liabilities at fair value	84		84		26
Foreign currency exchange derivatives \| Not Designated as Hedging Instrument \| Recurring Basis \| Level 2
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Assets at fair value	49		49		65
Liabilities at fair value	$ 84		$ 84		$ 26

ACCOUNTS RECEIVABLE AND OTHER_3

ACCOUNTS RECEIVABLE AND OTHER FINANCIAL ASSETS - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables from customers	$ 2,000	$ 1,500
Receivables from payment processors and networks	832	730
Prepaid expenses, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Prepayments to customers	6	29
Other assets, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Prepayments to customers	$ 22	$ 5

ACCOUNTS RECEIVABLE AND OTHER_4

ACCOUNTS RECEIVABLE AND OTHER FINANCIAL ASSETS - Summary of the Activity of the Allowance for Expected Credit Losses on Accounts Receivable (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of year	$ 117	$ 101
Provision charged to earnings	60	59
Write-offs and adjustments	(92)	(52)
Foreign currency translation adjustments	2	(6)
Balance, end of period	$ 87	$ 102

ACCOUNTS RECEIVABLE AND OTHER_5

ACCOUNTS RECEIVABLE AND OTHER FINANCIAL ASSETS - Summary of the Activity of the Allowance for Expected Credit Losses on Prepayments to Customers (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Contract With Customer, Asset, Prepayments To Customers, Allowance for Credit Loss [Abstract]
Balance, beginning of year	$ 23	$ 47
Provision charged to expense	2	(8)
Write-offs and adjustments	(2)	(4)
Balance, end of period	$ 23	$ 35

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL - Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Finite-lived intangible assets
Gross Carrying Amount	$ 3,537		$ 3,537		$ 3,522
Accumulated Amortization	(1,815)		(1,815)		(1,693)
Net Carrying Amount	1,722		1,722		1,829
Amortization expense	56	$ 56	111	$ 112
Cumulative impairment charges	2,000		2,000		2,000
Supply and distribution agreements
Finite-lived intangible assets
Gross Carrying Amount	1,397		1,397		1,386
Accumulated Amortization	(711)		(711)		(658)
Net Carrying Amount	$ 686		$ 686		728
Supply and distribution agreements \| Minimum
Finite-lived intangible assets
Amortization Period	3 years		3 years
Supply and distribution agreements \| Maximum
Finite-lived intangible assets
Amortization Period	20 years		20 years
Technology
Finite-lived intangible assets
Gross Carrying Amount	$ 286		$ 286		287
Accumulated Amortization	(202)		(202)		(185)
Net Carrying Amount	$ 84		$ 84		102
Technology \| Minimum
Finite-lived intangible assets
Amortization Period	2 years		2 years
Technology \| Maximum
Finite-lived intangible assets
Amortization Period	7 years		7 years
Trade names
Finite-lived intangible assets
Gross Carrying Amount	$ 1,810		$ 1,810		1,806
Accumulated Amortization	(862)		(862)		(812)
Net Carrying Amount	$ 948		$ 948		994
Trade names \| Minimum
Finite-lived intangible assets
Amortization Period	3 years		3 years
Trade names \| Maximum
Finite-lived intangible assets
Amortization Period	20 years		20 years
Other intangible assets
Finite-lived intangible assets
Gross Carrying Amount	$ 44		$ 44		43
Accumulated Amortization	(40)		(40)		(38)
Net Carrying Amount	$ 4		$ 4		$ 5
Other intangible assets \| Maximum
Finite-lived intangible assets
Amortization Period	20 years		20 years

DEBT - Schedule of Outstanding

DEBT - Schedule of Outstanding Debt (Details) € in Millions, $ in Millions	Jun. 30, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 EUR (€)	Apr. 30, 2020 USD ($)
Debt Instrument
Carrying Value	$ 855		$ 500
Carrying Value	13,198		11,985
Senior Notes
Debt Instrument
Outstanding Principal Amount	13,264		12,045
Unamortized Debt Discount and Debt Issuance Cost	(66)		(60)
Carrying Value	13,198		11,985
Senior Notes
Debt Instrument
Outstanding Principal Amount	863		500
Unamortized Debt Discount and Debt Issuance Cost	(8)		0
Carrying Value	$ 855		$ 500
0.75% Convertible Senior Notes due May 2025 \| Convertible Debt
Debt Instrument
Stated interest rate			0.75%	0.75%	0.75%
Aggregate principal amount					$ 863
Outstanding Principal Amount			$ 863
Unamortized Debt Discount and Debt Issuance Cost			(9)
Carrying Value			$ 854
0.75% Convertible Senior Notes due May 2025 \| Convertible Debt
Debt Instrument
Stated interest rate	0.75%	0.75%
Outstanding Principal Amount	$ 863
Unamortized Debt Discount and Debt Issuance Cost	(8)
Carrying Value	$ 855
2.75% Senior Notes due March 2023 \| Senior Notes
Debt Instrument
Stated interest rate			2.75%	2.75%
Outstanding Principal Amount			$ 500
Unamortized Debt Discount and Debt Issuance Cost			0
Carrying Value			$ 500
2.375% (€1 Billion) Senior Notes due September 2024 \| Senior Notes
Debt Instrument
Stated interest rate	2.375%	2.375%	2.375%	2.375%
Aggregate principal amount \| €		€ 1,000		€ 1,000
Outstanding Principal Amount	$ 1,091		$ 1,067
Unamortized Debt Discount and Debt Issuance Cost	(2)		(3)
Carrying Value	$ 1,089		$ 1,064
3.65% Senior Notes due March 2025 \| Senior Notes
Debt Instrument
Stated interest rate	3.65%	3.65%	3.65%	3.65%
Outstanding Principal Amount	$ 500		$ 500
Unamortized Debt Discount and Debt Issuance Cost	(1)		(1)
Carrying Value	$ 499		$ 499
0.1% (€950 Million) Senior Notes due March 2025 \| Senior Notes
Debt Instrument
Stated interest rate	0.10%	0.10%	0.10%	0.10%
Aggregate principal amount \| €		€ 950		€ 950
Outstanding Principal Amount	$ 1,036		$ 1,014
Unamortized Debt Discount and Debt Issuance Cost	(2)		(3)
Carrying Value	$ 1,034		$ 1,011
3.6% Senior Notes due June 2026 \| Senior Notes
Debt Instrument
Stated interest rate	3.60%	3.60%	3.60%	3.60%
Outstanding Principal Amount	$ 1,000		$ 1,000
Unamortized Debt Discount and Debt Issuance Cost	(2)		(3)
Carrying Value	$ 998		$ 997
4.0% (€750 Million) Senior Notes due November 2026 \| Senior Notes
Debt Instrument
Stated interest rate	4%	4%	4%	4%
Aggregate principal amount \| €		€ 750		€ 750
Outstanding Principal Amount	$ 818		$ 800
Unamortized Debt Discount and Debt Issuance Cost	(3)		(3)
Carrying Value	$ 815		$ 797
1.8% (€1 Billion) Senior Notes due March 2027 \| Senior Notes
Debt Instrument
Stated interest rate	1.80%	1.80%	1.80%	1.80%
Aggregate principal amount \| €		€ 1,000		€ 1,000
Outstanding Principal Amount	$ 1,091		$ 1,067
Unamortized Debt Discount and Debt Issuance Cost	(2)		(2)
Carrying Value	$ 1,089		$ 1,065
3.55% Senior Notes due March 2028 \| Senior Notes
Debt Instrument
Stated interest rate	3.55%	3.55%	3.55%	3.55%
Outstanding Principal Amount	$ 500		$ 500
Unamortized Debt Discount and Debt Issuance Cost	(2)		(2)
Carrying Value	$ 498		$ 498
0.5% (€750 Million) Senior Notes due March 2028 \| Senior Notes
Debt Instrument
Stated interest rate	0.50%	0.50%	0.50%	0.50%
Aggregate principal amount \| €		€ 750		€ 750
Outstanding Principal Amount	$ 818		$ 800
Unamortized Debt Discount and Debt Issuance Cost	(3)		(3)
Carrying Value	$ 815		$ 797
3.625% (€500 Million) Senior Notes due November 2028 \| Senior Notes
Debt Instrument
Stated interest rate	3.625%	3.625%
Aggregate principal amount \| €		€ 500
Outstanding Principal Amount	$ 546
Unamortized Debt Discount and Debt Issuance Cost	(4)
Carrying Value	$ 542
4.25% (€750 Million) Senior Notes due May 2029 \| Senior Notes
Debt Instrument
Stated interest rate	4.25%	4.25%	4.25%	4.25%
Aggregate principal amount \| €		€ 750		€ 750
Outstanding Principal Amount	$ 818		$ 800
Unamortized Debt Discount and Debt Issuance Cost	(5)		(6)
Carrying Value	$ 813		$ 794
4.625% Senior Notes due April 2030 \| Senior Notes
Debt Instrument
Stated interest rate	4.625%	4.625%	4.625%	4.625%
Outstanding Principal Amount	$ 1,500		$ 1,500
Unamortized Debt Discount and Debt Issuance Cost	(8)		(9)
Carrying Value	$ 1,492		$ 1,491
4.5% (€1 Billion) Senior Notes due November 2031 \| Senior Notes
Debt Instrument
Stated interest rate	4.50%	4.50%	4.50%	4.50%
Aggregate principal amount \| €		€ 1,000		€ 1,000
Outstanding Principal Amount	$ 1,091		$ 1,067
Unamortized Debt Discount and Debt Issuance Cost	(7)		(7)
Carrying Value	$ 1,084		$ 1,060
4.125% (€1.25 Billion) Senior Notes due May 2033 \| Senior Notes
Debt Instrument
Stated interest rate	4.125%	4.125%
Aggregate principal amount \| €		€ 1,250
Outstanding Principal Amount	$ 1,364
Unamortized Debt Discount and Debt Issuance Cost	(16)
Carrying Value	$ 1,348
4.75% (€1 Billion) Senior Notes due November 2034 \| Senior Notes
Debt Instrument
Stated interest rate	4.75%	4.75%	4.75%	4.75%
Aggregate principal amount \| €		€ 1,000		€ 1,000
Outstanding Principal Amount	$ 1,091		$ 1,067
Unamortized Debt Discount and Debt Issuance Cost	(9)		(9)
Carrying Value	$ 1,082		$ 1,058

DEBT - Narrative (Details)

DEBT - Narrative (Details)	1 Months Ended					3 Months Ended		6 Months Ended		12 Months Ended
DEBT - Narrative (Details)	May 31, 2023 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Apr. 30, 2020 USD ($) day $ / shares	Aug. 31, 2019 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2022 USD ($)
Level 2
Debt Instrument
Estimated fair value of outstanding debt						$ 14,300,000,000		$ 14,300,000,000			$ 12,400,000,000
2.75% Senior Notes due March 2023 \| Senior Notes
Debt Instrument
Stated interest rate											2.75%
Senior Notes Due March 2022 \| Senior Notes
Debt Instrument
Repayments of senior debt			$ 1,100,000,000
Convertible Debt
Debt Instrument
Weighted-average effective interest rate						1.20%	1.20%	1.20%	1.20%
Convertible Debt \| 0.75% Convertible Senior Notes due May 2025
Debt Instrument
Aggregate principal amount				$ 863,000,000
Stated interest rate				0.75%							0.75%
Payments of debt issuance costs										$ 19,000,000
Conversion price (in dollars per share) \| $ / shares				$ 1,886.44
Ratio of closing share price to conversion price as a condition for conversion of the convertible notes, minimum (Percentage)				130%
Convertible Debt \| 0.75% Convertible Senior Notes due May 2025 \| Level 2
Debt Instrument
Estimated fair value of outstanding debt						$ 1,300,000,000		$ 1,300,000,000			$ 1,200,000,000
Senior Notes
Debt Instrument
Carrying value of long-term debt						13,200,000,000		13,200,000,000			11,600,000,000
Interest expense, debt, coupon interest						100,000,000	$ 56,000,000	192,000,000	$ 114,000,000
Senior Notes \| 2.75% Senior Notes due March 2023
Debt Instrument
Repayments of senior debt		$ 500,000,000
Minimum \| Euro-Denominated Debt \| Designated as Hedging Instrument
Debt Instrument
Carrying value of the portions of euro-denominated debt designated as a net investment hedge								5,900,000,000	4,200,000,000
Minimum \| Convertible Debt \| 0.75% Convertible Senior Notes due May 2025
Debt Instrument
Minimum and maximum consecutive days the closing sales price of common stock must exceed a specified percentage of conversion price to trigger conversion feature of note (in days) \| day				20
Additional payment to debt holder, settled In shares, aggregate value				$ 0
Maximum \| Euro-Denominated Debt \| Designated as Hedging Instrument
Debt Instrument
Carrying value of the portions of euro-denominated debt designated as a net investment hedge								7,500,000,000	$ 5,600,000,000
Maximum \| Convertible Debt \| 0.75% Convertible Senior Notes due May 2025
Debt Instrument
Minimum and maximum consecutive days the closing sales price of common stock must exceed a specified percentage of conversion price to trigger conversion feature of note (in days) \| day				30
Additional payment to debt holder, settled In shares, aggregate value				$ 235,000,000
Revolving Credit Facility
Debt Instrument
Revolving credit facility, term	5 years				5 years
Revolving credit facility, maximum borrowing capacity	$ 2,000,000,000				$ 2,000,000,000
Long-term line of credit						0		0			0
Revolving Credit Facility \| Minimum \| Base Rate
Debt Instrument
Basis spread on variable rate	0%
Revolving Credit Facility \| Maximum \| Base Rate
Debt Instrument
Basis spread on variable rate	1.375%
Letter of Credit
Debt Instrument
Revolving credit facility, maximum borrowing capacity	$ 80,000,000
Letters of credit issued						$ 17,000,000		$ 17,000,000			$ 14,000,000
Swingline Loans
Debt Instrument
Revolving credit facility, maximum borrowing capacity	$ 100,000,000

TREASURY STOCK (Details)

TREASURY STOCK (Details) - USD ($) shares in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
TREASURY STOCK (Details) - USD ($) shares in Thousands	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2019
Equity, Class of Treasury Stock [Line Items]
Remaining authorization to repurchase common stock	$ 18,800,000,000	$ 18,800,000,000		$ 18,800,000,000
Stock repurchase program, expected time to complete (in years)				4 years
Authorized stock repurchase programs (in shares)		1,178	613	2,056	1,100
Authorized stock repurchase programs		$ 3,141,000,000	$ 1,274,000,000	$ 5,336,000,000	$ 2,374,000,000
General authorization for shares withheld on stock award vesting (in shares)		1	1	67	74
General authorization for shares withheld on stock award vesting		$ 3,000,000	$ 3,000,000	$ 176,000,000	$ 155,000,000
Treasury stock repurchased but unsettled by period end amount	110,000,000
Payments related to tax withholding for share-based compensation				176,000,000	$ 154,000,000
Estimated excise tax liability for share repurchases	47,000,000	47,000,000		47,000,000
2019 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Remaining authorization to repurchase common stock						$ 3,900,000,000
Amount of common stock repurchases authorized							$ 15,000,000,000
2023 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Amount of common stock repurchases authorized	$ 20,000,000,000	$ 20,000,000,000		$ 20,000,000,000
Common Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Authorized stock repurchase programs (in shares)		1,177	612	1,989	1,026
Authorized stock repurchase programs		$ 3,138,000,000	$ 1,271,000,000	$ 5,160,000,000	$ 2,219,000,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
INCOME TAXES (Details) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax Contingency [Line Items]
Effective tax rate, percent	20.30%	25.10%	19%	46.80%
Federal statutory tax rate, percent	21%	21%	21%	21%
Unrecognized tax benefits	$ 59		$ 59		$ 184
Unrecognized tax benefits, income tax penalties and interest accrued	$ 7		$ 7		$ 43
Tax and Customs Administration, Netherlands
Income Tax Contingency [Line Items]
Federal statutory tax rate, percent	25.80%	25.80%	25.80%	25.80%
Effective income tax rate at innovation box tax rate, percent	9%	9%	9%	9%

CHANGES IN ACCUMULATED OTHER _3

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS BY COMPONENT (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Total AOCI, net of tax
Balance		$ 1,074	$ 4,373	$ 2,782	$ 6,178
Total other comprehensive loss, net of tax		(24)	(69)	(24)	(108)
Balance		(665)	4,002	(665)	4,002
Foreign currency translation
Before tax
Balance		(474)	(411)	(579)	(276)
Other comprehensive income (loss) ("OCI") for the period		(2)	(306)	103	(441)
Balance		(476)	(717)	(476)	(717)
Tax (expense) benefit
Balance	[1]	72	74	93	67
Other comprehensive income (loss) ("OCI") for the period	[1]	4	38	(17)	45
Balance	[1]	76	112	76	112
Net investment hedges
Before tax
Balance	[2]	197	208	310	91
Other comprehensive income (loss) ("OCI") for the period	[2]	(34)	262	(147)	379
Balance	[2]	163	470	163	470
Tax (expense) benefit
Balance	[2]	(54)	(55)	(81)	(28)
Other comprehensive income (loss) ("OCI") for the period	[2]	8	(64)	35	(91)
Balance	[2]	(46)	(119)	(46)	(119)
Foreign currency translation adjustments
Total AOCI, net of tax
Balance		(259)	(184)	(257)	(146)
Total other comprehensive loss, net of tax		(24)	(70)	(26)	(108)
Balance		(283)	(254)	(283)	(254)
Foreign currency translation adjustments \| Net Investment Hedging \| Foreign Currency Forward
Before tax
Balance		(53)	(53)	(53)	(53)
Balance		(53)	(53)	(53)	(53)
Total AOCI, net of tax
Balance		(35)	(35)	(35)	(35)
Balance		(35)	(35)	(35)	(35)
Net unrealized (losses) gains on available-for-sale securities
Before tax
Balance		(10)	2	(13)	3
Other comprehensive income (loss) ("OCI") for the period		(1)	1	2	0
Balance		(11)	3	(11)	3
Tax (expense) benefit
Balance		2	(1)	3	(1)
Other comprehensive income (loss) ("OCI") for the period		1	0	0	0
Balance		3	(1)	3	(1)
Total AOCI, net of tax
Balance		(8)	1	(10)	2
Total other comprehensive loss, net of tax		0	1	2	0
Balance		(8)	2	(8)	2
Total AOCI, net of tax
Total AOCI, net of tax
Balance		(267)	(183)	(267)	(144)
Balance		$ (291)	$ (252)	$ (291)	$ (252)

[1]The tax benefits relate to foreign currency translation adjustments to the Company's one-time deemed repatriation tax liability recorded at December 31, 2017 and foreign earnings for periods after December 31, 2017 that are subject to U.S. federal and state income tax, resulting from the enactment of the U.S. Tax Cuts and Jobs Act (the "Tax Act").[2]Net investment hedges balance at June 30, 2023 and earlier dates presented above, includes accumulated net losses from fair value adjustments of $35 million ($53 million before tax) associated with previously settled derivatives that were designated as net investment hedges. The remaining balances relate to foreign currency transaction gains (losses) and related tax benefits (expenses) associated with the Company's Euro-denominated debt that is designated as a hedge of the foreign currency exposure of the net investment in certain Euro functional currency subsidiaries (see Note 9).

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) ₺ in Millions, € in Millions, $ in Millions

1 Months Ended

12 Months Ended

24 Months Ended

33 Months Ended

Jun. 30, 2021 USD ($)

Jun. 30, 2021 EUR (€)

Dec. 31, 2019 USD ($)

Dec. 31, 2019 EUR (€)

Dec. 31, 2022 USD ($)

Dec. 31, 2022 EUR (€)

Dec. 31, 2019 USD ($)

Dec. 31, 2019 TRY (₺)

Aug. 31, 2021 USD ($)

Aug. 31, 2021 EUR (€)

Jun. 30, 2023 USD ($)

Jun. 30, 2023 EUR (€)

Jun. 30, 2023 TRY (₺)

Dec. 31, 2022 EUR (€)

Commitments and Contingencies

Unrecognized tax benefits

$ 184

$ 59

Partner liability insurance maximum coverage per occurrence

Standby Letters of Credit and Bank Guarantees

Commitments and Contingencies

Letters of credit and bank guarantees issued

452

919

Italian Tax Audit

Commitments and Contingencies

Unrecognized tax benefits

€ 18

Italian Tax Audit | Tax Years 2013 Through 2018

Commitments and Contingencies

Tax Assessments

$ 274

€ 251

Italian Tax Audit | Tax Year 2013

Commitments and Contingencies

Payment required to appeal a litigation matter or avoid collection enforcement

$ 11

€ 10

Italian Tax Audit | Tax Years 2014 Through 2018

Commitments and Contingencies

Payment required to appeal a litigation matter or avoid collection enforcement

€ 64

Italian Tax Audit | Tax Years 2013 through 2019

Commitments and Contingencies

Recommended tax assessment

$ 168

€ 154

Italian Tax Audit | Tax Years 2013 Through 2022

Commitments and Contingencies

Loss contingency accrual, current

$ 48

102

€ 44

Turkish Tax Audit

Commitments and Contingencies

Loss contingency accrual, current

₺ 207

Turkish Tax Audit | Tax Years 2012 Through 2018

Commitments and Contingencies

Tax Assessments

$ 33

₺ 855

Turkish Tax Audit | Tax Year 2018

Commitments and Contingencies

Prepaid assessments required to appeal a litigation matter

₺ 149

Pension-related litigation

Commitments and Contingencies

Estimated reasonably possible loss in excess of amount accrued

$ 417

€ 382

OTHER INCOME (EXPENSE), NET (De

OTHER INCOME (EXPENSE), NET (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of Investments [Line Items]
Interest and dividend income		$ 266	$ 24	$ 494	$ 27
Net (losses) gains on equity securities	[1]	(34)	181	(167)	(806)
Foreign currency transaction (losses) gains	[2]	(48)	16	(101)	46
Other		2	(1)	7	(2)
Other income (expense), net		186	220	233	(735)
Foreign currency transaction (losses) gains related to Euro-denominated debt		$ (8)	$ 38	(34)	$ 68
Meituan
Schedule of Investments [Line Items]
Net loss on equity securities				$ 149

[1]Includes losses of $149 million related to the sale of Meituan during the six months ended June 30, 2023. See Note 5 for additional information related to net (losses) gains on equity securities and Note 6 for additional information related to impairments of an investment in equity securities.[2]Foreign currency transaction (losses) gains include losses of $8 million and $34 million for the three and six months ended June 30, 2023, respectively, and gains of $38 million and $68 million for the three and six months ended June 30, 2022, respectively, related to Euro-denominated debt and accrued interest that were not designated as net investment hedges (see Note 9).

OTHER - Reconciliation of Cash

OTHER - Reconciliation of Cash and Cash Equivalents and Restricted Cash and Cash Equivalents (Details) - USD ($) $ in Millions		Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]
Cash and cash equivalents		$ 14,602	$ 12,221
Restricted cash and cash equivalents	[1]	28	30
Total cash and cash equivalents and restricted cash and cash equivalents as shown in the Unaudited Consolidated Statements of Cash Flows		$ 14,630	$ 12,251	$ 11,867	$ 11,152

[1]Included in "Other current assets" in the Consolidated Balance Sheets and principally consist of amounts relating to the Company's travel-related insurance business.

OTHER - Narrative (Details)

OTHER - Narrative (Details) $ in Millions, € in Billions	1 Months Ended		3 Months Ended	6 Months Ended
OTHER - Narrative (Details) $ in Millions, € in Billions	Nov. 30, 2021 USD ($)	Nov. 30, 2021 EUR (€)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Business Acquisition [Line Items]
Noncash investing activity related to additions to property and equipment, including stock-based compensation and accrued liabilities				$ 25	$ 27
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Loss on transaction			$ 6		$ 42
Etraveli Group
Business Acquisition [Line Items]
Purchase price of pending business acquisition prior to closing	$ 1,800	€ 1.6