Delaware | 1-36691 | 06-1528493 | ||||||||||||
(State or other Jurisdiction of
Incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
800 Connecticut Avenue | Norwalk | Connecticut | 06854 | |||||||||||||||||
(Address of principal offices) | (Zip Code) |
Title of Each Class: | Trading Symbol | Name of Each Exchange on which Registered: | ||||||||||||||||||
Common Stock par value $0.008 per share | BKNG | The NASDAQ Global Select Market | ||||||||||||||||||
0.800% Senior Notes Due 2022 | BKNG 22A | The NASDAQ Stock Market LLC | ||||||||||||||||||
2.150% Senior Notes Due 2022 | BKNG 22 | The NASDAQ Stock Market LLC | ||||||||||||||||||
2.375% Senior Notes Due 2024 | BKNG 24 | The NASDAQ Stock Market LLC | ||||||||||||||||||
1.800% Senior Notes Due 2027 | BKNG 27 | The NASDAQ Stock Market LLC |
Exhibit
Number |
Description | |||||||||||||
Press release (which includes a financial and statistical supplement and related information) issued by Booking Holdings on August 6, 2020 relating to, among other things, its second quarter 2020 earnings. The unaudited consolidated balance sheet at June 30, 2020 and unaudited consolidated statement of operations for the three and six months ended June 30, 2020 and unaudited consolidated statement of cash flows for the six months ended June 30, 2020 shall be treated as "filed" for purposes of the Securities and Exchange Act of 1934, as amended, and the remaining information shall be treated as "furnished." | ||||||||||||||
104 | Cover Page Interactive Data File - the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | |||||||||||||
BOOKING HOLDINGS INC. | |||||||||||||||||
By: | /s/ Peter J. Millones | ||||||||||||||||
Name: | Peter J. Millones | ||||||||||||||||
Title: | Executive Vice President and General Counsel |
June 30,
2020 |
December 31,
2019 |
|||||||||||||
(Unaudited) | ||||||||||||||
ASSETS | ||||||||||||||
Current assets: | ||||||||||||||
Cash and cash equivalents | $ | 10,404 | $ | 6,312 | ||||||||||
Short-term investments (Available-for-sale debt securities:
Amortized cost of $998 at December 31, 2019) |
— | 998 | ||||||||||||
Accounts receivable, net (Allowance for expected credit losses of $282 and $49, respectively) | 566 | 1,680 | ||||||||||||
Prepaid expenses and other current assets, net (Allowance for expected credit losses of $12 and $6, respectively) | 483 | 843 | ||||||||||||
Total current assets | 11,453 | 9,833 | ||||||||||||
Property and equipment, net | 736 | 738 | ||||||||||||
Operating lease assets | 577 | 620 | ||||||||||||
Intangible assets, net | 1,865 | 1,954 | ||||||||||||
Goodwill | 2,412 | 2,913 | ||||||||||||
Long-term investments (Includes available-for-sale debt securities:
Amortized cost of $775 and $2,192, respectively) |
2,946 | 4,477 | ||||||||||||
Other assets, net (Allowance for expected credit losses of $44 at June 30, 2020) | 923 | 867 | ||||||||||||
Total assets | $ | 20,912 | $ | 21,402 | ||||||||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||||||||
Current liabilities: | ||||||||||||||
Accounts payable | $ | 581 | $ | 1,239 | ||||||||||
Accrued expenses and other current liabilities | 1,445 | 1,578 | ||||||||||||
Deferred merchant bookings | 910 | 1,561 | ||||||||||||
Convertible debt | 973 | 988 | ||||||||||||
Total current liabilities | 3,909 | 5,366 | ||||||||||||
Deferred income taxes | 931 | 876 | ||||||||||||
Operating lease liabilities | 417 | 462 | ||||||||||||
Long-term U.S. transition tax liability | 922 | 1,021 | ||||||||||||
Other long-term liabilities | 101 | 104 | ||||||||||||
Long-term debt | 10,633 | 7,640 | ||||||||||||
Total liabilities | 16,913 | 15,469 | ||||||||||||
Commitments and Contingencies | ||||||||||||||
Stockholders' equity: | ||||||||||||||
Common stock, $0.008 par value,
Authorized shares: 1,000,000,000 Issued shares: 63,390,891 and 63,179,471, respectively |
— | — | ||||||||||||
Treasury stock, 22,442,328 and 21,762,070 shares, respectively | (24,119) | (22,864) | ||||||||||||
Additional paid-in capital | 5,699 | 5,756 | ||||||||||||
Retained earnings | 22,652 | 23,232 | ||||||||||||
Accumulated other comprehensive loss | (233) | (191) | ||||||||||||
Total stockholders' equity | 3,999 | 5,933 | ||||||||||||
Total liabilities and stockholders' equity | $ | 20,912 | $ | 21,402 |
Three Months Ended
June 30, |
Six Months Ended
June 30, |
|||||||||||||||||||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | |||||||||||||||||||||||||||||||||||
Agency revenues | $ | 357 | $ | 2,607 | $ | 1,781 | $ | 4,556 | ||||||||||||||||||||||||||||||
Merchant revenues | 245 | 959 | 904 | 1,562 | ||||||||||||||||||||||||||||||||||
Advertising and other revenues | 28 | 284 | 233 | 569 | ||||||||||||||||||||||||||||||||||
Total revenues | 630 | 3,850 | 2,918 | 6,687 | ||||||||||||||||||||||||||||||||||
Operating expenses: | ||||||||||||||||||||||||||||||||||||||
Marketing expenses | 211 | 1,367 | 1,062 | 2,560 | ||||||||||||||||||||||||||||||||||
Sales and other expenses | 131 | 248 | 508 | 463 | ||||||||||||||||||||||||||||||||||
Personnel, including stock-based compensation of $77, $79, $83 and $153, respectively | 452 | 619 | 936 | 1,120 | ||||||||||||||||||||||||||||||||||
General and administrative | 104 | 180 | 305 | 371 | ||||||||||||||||||||||||||||||||||
Information technology | 70 | 70 | 148 | 135 | ||||||||||||||||||||||||||||||||||
Depreciation and amortization | 112 | 119 | 229 | 235 | ||||||||||||||||||||||||||||||||||
Restructuring and other exit costs | 34 | — | 34 | — | ||||||||||||||||||||||||||||||||||
Impairment of goodwill | — | — | 489 | — | ||||||||||||||||||||||||||||||||||
Total operating expenses | 1,114 | 2,603 | 3,711 | 4,884 | ||||||||||||||||||||||||||||||||||
Operating (loss) income | (484) | 1,247 | (793) | 1,803 | ||||||||||||||||||||||||||||||||||
Other income (expense): | ||||||||||||||||||||||||||||||||||||||
Interest income | 12 | 34 | 44 | 69 | ||||||||||||||||||||||||||||||||||
Interest expense | (96) | (68) | (160) | (134) | ||||||||||||||||||||||||||||||||||
Net gains on marketable equity securities | 835 | 17 | 528 | 468 | ||||||||||||||||||||||||||||||||||
Impairment of investment | — | — | (100) | — | ||||||||||||||||||||||||||||||||||
Foreign currency transactions and other | (58) | (23) | (32) | (31) | ||||||||||||||||||||||||||||||||||
Total other income (expense) | 693 | (40) | 280 | 372 | ||||||||||||||||||||||||||||||||||
Income (loss) before income taxes | 209 | 1,207 | (513) | 2,175 | ||||||||||||||||||||||||||||||||||
Income tax expense | 87 | 228 | 64 | 431 | ||||||||||||||||||||||||||||||||||
Net income (loss) | $ | 122 | $ | 979 | $ | (577) | $ | 1,744 | ||||||||||||||||||||||||||||||
Net income (loss) applicable to common stockholders per basic common share | $ | 2.98 | $ | 22.62 | $ | (14.07) | $ | 39.52 | ||||||||||||||||||||||||||||||
Weighted-average number of basic common shares outstanding (in 000's) | 40,922 | 43,251 | 41,007 | 44,124 | ||||||||||||||||||||||||||||||||||
Net income (loss) applicable to common stockholders per diluted common share | $ | 2.97 | $ | 22.44 | $ | (14.07) | $ | 39.17 | ||||||||||||||||||||||||||||||
Weighted-average number of diluted common shares outstanding (in 000's) | 40,995 | 43,601 | 41,007 | 44,514 |
Six Months Ended
June 30, |
||||||||||||||||||||||||||
2020 | 2019 | |||||||||||||||||||||||||
OPERATING ACTIVITIES: | ||||||||||||||||||||||||||
Net (loss) income | $ | (577) | $ | 1,744 | ||||||||||||||||||||||
Adjustments to reconcile net (loss) income to net cash (used in) provided by
operating activities: |
||||||||||||||||||||||||||
Depreciation and amortization | 229 | 235 | ||||||||||||||||||||||||
Provision for expected credit losses and chargebacks | 322 | 74 | ||||||||||||||||||||||||
Deferred income tax expense | 11 | 60 | ||||||||||||||||||||||||
Net gains on marketable equity securities | (528) | (468) | ||||||||||||||||||||||||
Stock-based compensation expense and other stock-based payments | 94 | 162 | ||||||||||||||||||||||||
Operating lease amortization | 91 | 85 | ||||||||||||||||||||||||
Amortization of debt discount and debt issuance costs | 33 | 28 | ||||||||||||||||||||||||
Unrealized foreign currency transaction losses on Euro-denominated debt | 22 | 19 | ||||||||||||||||||||||||
Impairment of goodwill | 489 | — | ||||||||||||||||||||||||
Impairment of investment | 100 | — | ||||||||||||||||||||||||
Other | 3 | 9 | ||||||||||||||||||||||||
Changes in assets and liabilities, net of effect of acquisition: | ||||||||||||||||||||||||||
Accounts receivable | 805 | (523) | ||||||||||||||||||||||||
Prepaid expenses and other current assets | 248 | (584) | ||||||||||||||||||||||||
Deferred merchant bookings and other current liabilities | (1,567) | 1,513 | ||||||||||||||||||||||||
Other long-term assets and liabilities | (33) | (417) | ||||||||||||||||||||||||
Net cash (used in) provided by operating activities | (258) | 1,937 | ||||||||||||||||||||||||
INVESTING ACTIVITIES: | ||||||||||||||||||||||||||
Purchase of investments | (72) | (580) | ||||||||||||||||||||||||
Proceeds from sale and maturity of investments | 2,997 | 6,977 | ||||||||||||||||||||||||
Additions to property and equipment | (150) | (199) | ||||||||||||||||||||||||
Acquisitions and other investments, net of cash acquired | — | (9) | ||||||||||||||||||||||||
Net cash provided by investing activities | 2,775 | 6,189 | ||||||||||||||||||||||||
FINANCING ACTIVITIES: | ||||||||||||||||||||||||||
Proceeds from revolving credit facility and short-term borrowings | 56 | 437 | ||||||||||||||||||||||||
Repayments of revolving credit facility and short-term borrowings | — | (425) | ||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | 4,108 | — | ||||||||||||||||||||||||
Payments of debt issuance costs | (38) | — | ||||||||||||||||||||||||
Payments for conversion of debt | (1,244) | — | ||||||||||||||||||||||||
Payments for repurchase of common stock | (1,294) | (5,491) | ||||||||||||||||||||||||
Other financing activities | 5 | (8) | ||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 1,593 | (5,487) | ||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents | (19) | (8) | ||||||||||||||||||||||||
Net increase in cash and cash equivalents and restricted cash and cash equivalents | 4,091 | 2,631 | ||||||||||||||||||||||||
Total cash and cash equivalents and restricted cash and cash equivalents,
beginning of period |
6,332 | 2,645 | ||||||||||||||||||||||||
Total cash and cash equivalents and restricted cash and cash equivalents,
end of period |
$ | 10,423 | $ | 5,276 | ||||||||||||||||||||||
SUPPLEMENTAL CASH FLOW INFORMATION: | ||||||||||||||||||||||||||
Cash paid during the period for income taxes | $ | 61 | $ | 949 | ||||||||||||||||||||||
Cash paid during the period for interest | $ | 92 | $ | 101 | ||||||||||||||||||||||
RECONCILIATION OF TOTAL REVENUES TO NON-GAAP TOTAL REVENUES
|
Three Months Ended
June 30, |
Six Months Ended
June 30, |
||||||||||||||||||||||||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | |||||||||||||||||||||||||||||||||||||||||
Total Revenues | $ | 630 | 3,850 | $ | 2,918 | $ | 6,687 | |||||||||||||||||||||||||||||||||||||
(a) | Adjustment to merchant revenue | — | (53) | — | — | |||||||||||||||||||||||||||||||||||||||
Non-GAAP Total Revenues | $ | 630 | $ | 3,797 | $ | 2,918 | $ | 6,687 |
RECONCILIATION OF NET (LOSS) INCOME TO ADJUSTED EBITDA
|
Three Months Ended
June 30, |
Six Months Ended
June 30, |
||||||||||||||||||||||||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | |||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | 122 | $ | 979 | $ | (577) | $ | 1,744 | ||||||||||||||||||||||||||||||||||||
(a) | Adjustment to merchant revenue | — | (53) | — | — | |||||||||||||||||||||||||||||||||||||||
(b) | Adjustment to personnel expenses | — | 66 | — | 66 | |||||||||||||||||||||||||||||||||||||||
(c) | Depreciation and amortization | 112 | 119 | 229 | 235 | |||||||||||||||||||||||||||||||||||||||
(d) | Impairment of goodwill | — | — | 489 | — | |||||||||||||||||||||||||||||||||||||||
(c) | Interest income | (12) | (34) | (44) | (69) | |||||||||||||||||||||||||||||||||||||||
(c) | Interest expense | 96 | 68 | 160 | 134 | |||||||||||||||||||||||||||||||||||||||
(e) | Net gains on marketable equity securities | (835) | (17) | (528) | (468) | |||||||||||||||||||||||||||||||||||||||
(f) | Impairment of investment | — | — | 100 | — | |||||||||||||||||||||||||||||||||||||||
(g) | Remeasurement losses on certain Euro-denominated debt | 55 | 19 | 22 | 19 | |||||||||||||||||||||||||||||||||||||||
(c) | Income tax (benefit) expense | 87 | 228 | 64 | 431 | |||||||||||||||||||||||||||||||||||||||
Adjusted EBITDA | $ | (376) | $ | 1,373 | $ | (86) | $ | 2,091 | ||||||||||||||||||||||||||||||||||||
Adjusted EBITDA as a % of Non-GAAP Total Revenues | (59.7) | % | 36.1 | % | (2.9) | % | 31.3 | % |
RECONCILIATION OF NET INCOME (LOSS) TO NON-GAAP NET (LOSS) INCOME AND NON-GAAP NET (LOSS) INCOME PER DILUTED COMMON SHARE |
Three Months Ended
June 30, |
Six Months Ended
June 30, |
||||||||||||||||||||||||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | |||||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | 122 | $ | 979 | $ | (577) | $ | 1,744 | ||||||||||||||||||||||||||||||||||||
(a) | Adjustment to merchant revenue | — | (53) | — | — | |||||||||||||||||||||||||||||||||||||||
(b) | Adjustment to personnel expenses | — | 66 | — | 66 | |||||||||||||||||||||||||||||||||||||||
(d) | Impairment of goodwill | — | — | 489 | — | |||||||||||||||||||||||||||||||||||||||
(e) | Net gains on marketable equity securities | (835) | (17) | (528) | (468) | |||||||||||||||||||||||||||||||||||||||
(f) | Impairment of investment | — | — | 100 | — | |||||||||||||||||||||||||||||||||||||||
(g) | Remeasurement losses on certain Euro-denominated debt | 55 | 19 | 22 | 19 | |||||||||||||||||||||||||||||||||||||||
(h) | Amortization of intangible assets | 42 | 44 | 85 | 89 | |||||||||||||||||||||||||||||||||||||||
(i) | Debt discount amortization related to convertible debt | 15 | 11 | 26 | 22 | |||||||||||||||||||||||||||||||||||||||
(j) | Tax impact of Non-GAAP adjustments | 159 | (19) | 97 | 65 | |||||||||||||||||||||||||||||||||||||||
Non-GAAP Net (loss) income | $ | (443) | $ | 1,028 | $ | (287) | $ | 1,536 | ||||||||||||||||||||||||||||||||||||
Weighted-average number of diluted common shares outstanding (in 000's) (2)
|
40,922 | 43,601 | 41,007 | 44,514 | ||||||||||||||||||||||||||||||||||||||||
Non-GAAP Net (loss) income per diluted common share
|
$ | (10.81) | $ | 23.59 | $ | (6.99) | $ | 34.51 |
RECONCILIATION OF GAAP TO NON-GAAP WEIGHTED-AVERAGE DILUTED COMMON SHARES OUTSTANDING |
Three Months Ended
June 30, |
Six Months Ended
June 30, |
||||||||||||||||||||||||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | |||||||||||||||||||||||||||||||||||||||||
GAAP weighted-average number of diluted common shares outstanding (in 000's) | 40,995 | 43,601 | 41,007 | 44,514 | ||||||||||||||||||||||||||||||||||||||||
(k) | Adjustment for anti-dilutive shares | (73) | — | — | — | |||||||||||||||||||||||||||||||||||||||
Non-GAAP weighted-average number of diluted common shares outstanding (in 000's) (2)
|
40,922 | 43,601 | 41,007 | 44,514 |
RECONCILIATION OF CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW |
Six Months Ended
June 30, |
|||||||||||||||||||||||||||||||||||||
2020 | 2019 | |||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | (258) | $ | 1,937 | ||||||||||||||||||||||||||||||||||
(l) |
Additions to property and equipment
|
(150) | (199) | |||||||||||||||||||||||||||||||||||
Free cash flow | $ | (408) | $ | 1,738 | ||||||||||||||||||||||||||||||||||
Free cash flow as a % of Non-GAAP Total Revenues | (14.0) | % | 26.0 | % |
Notes: | |||||
(a) |
An immaterial adjustment to merchant revenues related to prior periods due to a correction in the timing of revenue recognition on a component of merchant revenue.
|
||||
(b) |
Adjustment to correct an immaterial error related to the nonpayment of prior-period wage-related tax on compensation paid to certain highly-compensated former employees in the year of separation which is recorded in Personnel expenses.
|
||||
(c) |
Amounts are excluded from Net income to calculate Adjusted EBITDA.
|
||||
(d) |
Impairment of goodwill related to our OpenTable and KAYAK reporting unit is recorded in Operating expenses.
|
||||
(e) |
Net gains or losses on marketable equity securities are excluded from Net income to calculate Non-GAAP Net income and Adjusted EBITDA.
|
||||
(f) |
Impairment of investment in Didi Chuxing equity securities.
|
||||
(g) |
Adjustment for foreign currency transaction gains or losses on our Euro-denominated debt that is not designated as a hedging instrument for accounting purposes is recorded in Foreign currency transactions and other.
|
||||
(h) |
Amortization of intangible assets is recorded in Depreciation and amortization and excluded from Net income to calculate Non-GAAP Net income.
|
||||
(i) |
Non-cash interest expense related to the amortization of debt discount is recorded in Interest expense and is excluded from Net income to calculate Non-GAAP Net income.
|
||||
(j) |
Reflects the tax impact of Non-GAAP adjustments and is excluded from Net income to calculate Non-GAAP Net income.
|
||||
(k) |
Reflects shares that are excluded from the GAAP weighted-average diluted common shares, as these shares would be anti-dilutive given the non-GAAP net loss.
|
||||
(l) |
Additions to property and equipment are included in the calculation of Free cash flow.
|
||||
For a more detailed discussion of the adjustments described above, please see the section in our press release entitled "Non-GAAP Financial Measures" which provides a definition and information about the use of non-GAAP financial measures.
|
|||||
Units Sold | 2Q18 | 3Q18 | 4Q18 | 1Q19 | 2Q19 | 3Q19 | 4Q19 | 1Q20 | 2Q20 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Room Nights
|
191 | 201 | 171 | 217 | 213 | 223 | 191 | 124 | 28 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year/Year Growth/(Decline) | 12.0 | % | 13.4 | % | 13.0 | % | 10.3 | % | 11.8 | % | 11.0 | % | 11.8 | % | (42.8) | % | (86.7) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Rental Car Days | 21 | 19 | 15 | 18 | 21 | 21 | 16 | 12 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year/Year Growth/(Decline) | 1.0 | % | (0.1) | % | (0.6) | % | (1.3) | % | 1.2 | % | 8.5 | % | 11.9 | % | (36.4) | % | (90.4) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Airline Tickets | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Year/Year Growth/(Decline) | 5.3 | % | 9.2 | % | (1.3) | % | 4.4 | % | 2.4 | % | (2.5) | % | 11.3 | % | (8.0) | % | (69.7) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Bookings(2)
|
2Q18 | 3Q18 | 4Q18 | 1Q19 | 2Q19 | 3Q19 | 4Q19 | 1Q20 | 2Q20 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agency | $ | 19,090 | $ | 19,024 | $ | 15,230 | $ | 19,678 | $ | 18,638 | $ | 18,118 | $ | 14,218 | $ | 8,320 | $ | 1,535 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Merchant | 4,807 | 5,250 | 4,322 | 5,732 | 6,401 | 7,163 | 6,495 | 4,073 | 771 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 23,896 | $ | 24,274 | $ | 19,552 | $ | 25,410 | $ | 25,039 | $ | 25,281 | $ | 20,713 | $ | 12,393 | $ | 2,306 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Bookings Year/Year Growth (Decline) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Agency | 6.4 | % | 2.3 | % | 1.4 | % | (4.4) | % | (2.4) | % | (4.8) | % | (6.6) | % | (57.7) | % | (91.8) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Merchant | 68.6 | % | 65.7 | % | 45.8 | % | 29.3 | % | 33.2 | % | 36.5 | % | 50.3 | % | (28.9) | % | (88.0) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total | 14.9 | % | 11.5 | % | 8.7 | % | 1.6 | % | 4.8 | % | 4.1 | % | 5.9 | % | (51.2) | % | (90.8) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Constant Currency | 11 | % | 14 | % | 13 | % | 8 | % | 10 | % | 7 | % | 7 | % | (50) | % | (91) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
2Q18 | 3Q18 | 4Q18 | 1Q19 | 2Q19 | 3Q19 | 4Q19 | 1Q20 | 2Q20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | $ | 3,537 | $ | 4,849 | $ | 3,213 | $ | 2,837 | $ | 3,850 | $ | 5,040 | $ | 3,339 | $ | 2,288 | $ | 630 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year/Year Growth/(Decline) | 19.6 | % | 10.7 | % | 16.3 | % | (3.1) | % | 8.9 | % | 3.9 | % | 3.9 | % | (19.3) | % | (83.7) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Constant Currency | 16 | % | 13 | % | 21 | % | 3 | % | 14 | % | 7 | % | 5 | % | (17) | % | (83) | % |