Hilton Worldwide Holdings Inc. Q3 2024 10-Q Filing
Ticker: HLT · Form: 10-Q · Filed: Oct 23, 2024 · CIK: 1585689
| Field | Detail |
|---|---|
| Company | Hilton Worldwide Holdings INC. (HLT) |
| Form Type | 10-Q |
| Filed Date | Oct 23, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.01, $1 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-filing, financials
TL;DR
Hilton's Q3 2024 10-Q is in: financials and operations updated.
AI Summary
Hilton Worldwide Holdings Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial data and segment information are presented, reflecting the company's ongoing business activities in the hotel and hospitality sector.
Why It Matters
This filing provides investors and analysts with the latest financial and operational data for Hilton, crucial for understanding the company's performance and future outlook in the hospitality industry.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate or unusual risk factors highlighted.
Key Players & Entities
- Hilton Worldwide Holdings Inc. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-10-23 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240930, meaning the filing covers the period ending September 30, 2024.
When was this 10-Q filed with the SEC?
The filing date is 2024-10-23.
What is Hilton Worldwide Holdings Inc.'s primary industry classification?
The Standard Industrial Classification is HOTELS & MOTELS [7011].
What is the company's fiscal year end?
Hilton's fiscal year ends on December 31.
What are some of the financial segments or asset types mentioned in the filing data?
The filing data mentions segments like hlt:Hotel, hlt:Segment, and asset types such as us-gaap:OtherIntangibleAssetsMember and hlt:GuestLoyaltyProgramMember.
Filing Stats: 4,736 words · 19 min read · ~16 pages · Grade level 15.7 · Accepted 2024-10-23 10:04:16
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share HLT New York Stock
- $1 million — ____________ (1) Amount was less than $1 million. See notes to condensed consolidated f
Filing Documents
- hlt-20240930.htm (10-Q) — 1146KB
- q32024cert311.htm (EX-31.1) — 11KB
- q32024cert312.htm (EX-31.2) — 12KB
- q32024cert321.htm (EX-32.1) — 6KB
- q32024cert322.htm (EX-32.2) — 6KB
- 0001585689-24-000191.txt ( ) — 6605KB
- hlt-20240930.xsd (EX-101.SCH) — 39KB
- hlt-20240930_cal.xml (EX-101.CAL) — 61KB
- hlt-20240930_def.xml (EX-101.DEF) — 232KB
- hlt-20240930_lab.xml (EX-101.LAB) — 522KB
- hlt-20240930_pre.xml (EX-101.PRE) — 360KB
- hlt-20240930_htm.xml (XML) — 1101KB
FINANCIAL INFORMATION
PART I FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements 2
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 17
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 27
Controls and Procedures
Item 4. Controls and Procedures 28
OTHER INFORMATION
PART II OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 29
Risk Factors
Item 1A. Risk Factors 29
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 29
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 29
Other Information
Item 5. Other Information 30
Exhibits
Item 6. Exhibits 30
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements HILTON WORLDWIDE HOLDINGS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in millions, except share data) September 30, December 31, 2024 2023 (unaudited) ASSETS Current Assets: Cash and cash equivalents $ 1,580 $ 800 Restricted cash and cash equivalents 75 75 Accounts receivable, net of allowance for credit losses of $ 144 and $ 131 1,597 1,487 Prepaid expenses 191 131 Other 130 121 Total current assets (variable interest entities – $ 81 and $ 65 ) 3,573 2,614 Intangibles and Other Assets: Goodwill 5,065 5,052 Brands 5,015 4,846 Management and franchise contracts, net 1,211 1,064 Other intangible assets, net 187 173 Operating lease right-of-use assets 620 618 Property and equipment, net 395 382 Deferred income tax assets 140 140 Other 483 512 Total intangibles and other assets (variable interest entities – $ 104 and $ 112 ) 13,116 12,787 TOTAL ASSETS $ 16,689 $ 15,401 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY (DEFICIT) Current Liabilities: Accounts payable, accrued expenses and other $ 2,074 $ 1,979 Current maturities of long-term debt 538 39 Current portion of deferred revenues 543 502 Current portion of liability for guest loyalty program 1,336 1,202 Total current liabilities (variable interest entities – $ 56 and $ 50 ) 4,491 3,722 Long-term debt 10,626 9,157 Operating lease liabilities 798 808 Deferred revenues 1,241 1,132 Deferred income tax liabilities 357 401 Liability for guest loyalty program 1,617 1,530 Other 989 998 Total liabilities (variable interest entities – $ 128 and $ 137 ) 20,119 17,748 Commitments and contingencies – see Note 13 Redeemable Noncontrolling Interests 20 — Equity (Deficit): Common stock, $ 0.01 par value; 10,000,000,000 authorized shares, 244,611,310 outstanding as of September 30, 2024 and 253,488,288 outstanding as of December 31, 2023 3 3 Treasury stock, at cost; 91,048,652 shares as of September 30, 2024 and 80,807,0