Preferred stock, authorized shares

  
PART I. FINANCIAL INFORMATION  
Item 1.    Financial Statements  
HILTON WORLDWIDE HOLDINGS INC.CONDENSED CONSOLIDATED BALANCE SHEETS(in millions, except share data)  


|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | September 30, |  | December 31, |
| 2022 | 2021 |
|  | (unaudited) |  |  |
| ASSETS |  |  |  |
| Current Assets: |  |  |  |
| Cash and cash equivalents | $ | 1,282  |  |  | $ | 1,427  |  |
| Restricted cash and cash equivalents | 80  |  |  | 85  |  |
| Accounts receivable, net of allowance for credit losses of $124 and $126 | 1,278  |  |  | 1,068  |  |
| Prepaid expenses | 139  |  |  | 89  |  |
| Other | 197  |  |  | 202  |  |
| Total current assets (variable interest entities – $28 and $30) | 2,976  |  |  | 2,871  |  |
| Intangibles and Other Assets: |  |  |  |
| Goodwill | 4,990  |  |  | 5,071  |  |
| Brands | 4,814  |  |  | 4,883  |  |
| Management and franchise contracts, net | 874  |  |  | 758  |  |
| Other intangible assets, net | 158  |  |  | 194  |  |
| Operating lease right-of-use assets | 624  |  |  | 694  |  |
| Property and equipment, net | 254  |  |  | 305  |  |
| Deferred income tax assets | 213  |  |  | 213  |  |
| Other | 605  |  |  | 452  |  |
| Total intangibles and other assets (variable interest entities – $141 and $184) | 12,532  |  |  | 12,570  |  |
| TOTAL ASSETS | $ | 15,508  |  |  | $ | 15,441  |  |
| LIABILITIES AND EQUITY (DEFICIT) |  |  |  |
| Current Liabilities: |  |  |  |
| Accounts payable, accrued expenses and other | $ | 1,728  |  |  | $ | 1,568  |  |
| Current maturities of long-term debt | 39  |  |  | 54  |  |
| Current portion of deferred revenues | 266  |  |  | 350  |  |
| Current portion of liability for guest loyalty program | 1,332  |  |  | 1,047  |  |
| Total current liabilities (variable interest entities – $39 and $50) | 3,365  |  |  | 3,019  |  |
| Long-term debt | 8,692  |  |  | 8,712  |  |
| Operating lease liabilities | 786  |  |  | 870  |  |
| Deferred revenues | 845  |  |  | 896  |  |
| Deferred income tax liabilities | 794  |  |  | 700  |  |
| Liability for guest loyalty program | 1,251  |  |  | 1,317  |  |
| Other | 689  |  |  | 746  |  |
| Total liabilities (variable interest entities – $174 and $212) | 16,422  |  |  | 16,260  |  |
| Commitments and contingencies – see Note 12 |  |  |  |
| Equity (Deficit): |  |  |  |
| Preferred stock, $0.01 par value; 3,000,000,000 authorized shares, none issued or outstanding as of September 30, 2022 and December 31, 2021 | —  |  |  | —  |  |
| Common stock, $0.01 par value; 10,000,000,000 authorized shares, 332,944,066 issued and 271,541,523 outstanding as of September 30, 2022 and 332,011,359 issued and 279,091,009 outstanding as of December 31, 2021 | 3  |  |  | 3  |  |
| Treasury stock, at cost; 61,402,543 shares as of September 30, 2022 and 52,920,350 shares as of December 31, 2021 | (5,545) |  |  | (4,443) |  |
| Additional paid-in capital | 10,791  |  |  | 10,720  |  |
| Accumulated deficit | (5,477) |  |  | (6,322) |  |
| Accumulated other comprehensive loss | (685) |  |  | (779) |  |
| Total Hilton stockholders' deficit | (913) |  |  | (821) |  |
| Noncontrolling interests | (1) |  |  | 2  |  |
| Total deficit | (914) |  |  | (819) |  |
| TOTAL LIABILITIES AND EQUITY (DEFICIT) | $ | 15,508  |  |  | $ | 15,441  |  |

  
See notes to condensed consolidated financial statements.2
