Income Tax Expense (Benefit)
Effective Income Tax Rate (EITR)
Components of Deferred Tax Assets and Liabilities
Deferred Tax Assets and Liabilities, Classification
Adjustments to Financial Statements: Removal of Deferred Taxes
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Adjusted Net Profit Margin
Adjusted Total Asset Turnover
Adjusted Financial Leverage
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

Airbnb Inc., income tax expense (benefit), continuing operations

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Federal	103)	19)	19)	5)	(91)
State	23)	8)	10)	2)	(1)
Foreign	124)	158)	68)	34)	14)
Current provision for (benefit from) income taxes	250)	185)	97)	41)	(78)
Federal	397)	(2,410)	—)	—)	—)
State	36)	(461)	—)	—)	—)
Foreign	—)	(4)	(1)	11)	(20)
Deferred provision for (benefit from) income taxes	433)	(2,875)	(1)	11)	(20)
Provision for (benefit from) income taxes	683)	(2,690)	96)	52)	(97)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

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Item	Description	The company
Current provision for (benefit from) income taxes	Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.	Airbnb Inc. current provision for (benefit from) income taxes increased from 2022 to 2023 and from 2023 to 2024.
Deferred provision for (benefit from) income taxes	Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.	Airbnb Inc. deferred provision for (benefit from) income taxes decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Provision for (benefit from) income taxes	Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.	Airbnb Inc. provision for (benefit from) income taxes decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Airbnb Inc., effective income tax rate (EITR) reconciliation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Statutory federal income tax rate	21.00%	21.00%	21.00%	21.00%	21.00%
State taxes, net of federal benefits	1.30%	0.30%	0.40%	-0.70%	0.00%
Foreign tax rate differential	0.80%	2.90%	1.00%	-5.10%	-0.50%
Stock-based compensation	-0.20%	-16.70%	-6.90%	282.40%	7.10%
Deferred tax impacts of restructuring	0.00%	0.00%	0.00%	-9.70%	6.50%
Other statutorily non-deductible expenses	0.10%	0.10%	0.30%	-1.10%	-0.30%
Non-deductible warrant revaluations	0.00%	0.00%	-0.10%	-20.40%	-3.90%
Research and development credits	-2.20%	-5.50%	-4.70%	51.00%	4.30%
Uncertain tax positions, prior year positions	0.00%	1.80%	0.10%	-3.10%	-0.10%
Uncertain tax positions, current year positions	1.40%	1.70%	0.80%	-1.00%	-0.20%
U.S. tax on foreign income, net of allowable credits and deductions	0.00%	3.90%	0.70%	0.00%	0.00%
Foreign-derived intangible income deduction	-2.00%	-1.00%	-1.90%	0.00%	0.00%
Change in valuation allowance	0.30%	-136.60%	-6.00%	-331.90%	-32.10%
Other, net	0.00%	0.10%	0.10%	1.30%	0.30%
Effective tax rate	20.50%	-128.00%	4.80%	-17.30%	2.10%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

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Item	Description	The company
Effective tax rate	Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.	Airbnb Inc. effective tax rate decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Airbnb Inc., components of deferred tax assets and liabilities

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Loss carryforwards	462)	1,232)	1,539)	1,988)	1,078)
Tax credit carryforwards	999)	844)	664)	568)	334)
Accruals and reserves	122)	113)	123)	106)	70)
Non-income tax accruals	84)	78)	68)	65)	72)
Stock-based compensation	70)	70)	111)	157)	211)
Operating lease liabilities	61)	62)	73)	87)	95)
Intangible assets	140)	158)	188)	210)	274)
Capitalized research and development costs	882)	671)	413)	—)	—)
Other, net	62)	55)	37)	155)	53)
Gross deferred tax assets	2,882)	3,283)	3,216)	3,335)	2,188)
Valuation allowance	(395)	(364)	(3,166)	(3,264)	(2,053)
Deferred tax assets	2,487)	2,919)	50)	71)	135)
Property and equipment basis differences	(20)	(18)	(9)	(8)	(34)
Operating lease assets	(25)	(18)	(23)	(49)	(73)
Other, net	(7)	(2)	(2)	—)	(3)
Deferred tax liabilities	(52)	(38)	(34)	(56)	(109)
Net deferred tax assets (liabilities)	2,435)	2,881)	16)	15)	26)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

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Item	Description	The company
Gross deferred tax assets	Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.	Airbnb Inc. gross deferred tax assets increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
Deferred tax assets	Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.	Airbnb Inc. deferred tax assets increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.
Net deferred tax assets (liabilities)	Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting.	Airbnb Inc. net deferred tax assets (liabilities) increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.

Airbnb Inc., deferred tax assets and liabilities, classification

US$ in millions

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
	Deferred tax assets	2,439)	2,881)	16)	15)	26)
	Deferred tax liabilities	4)	—)	—)	—)	—)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

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Item	Description	The company
Deferred tax assets	Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent.	Airbnb Inc. deferred tax assets increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.
Deferred tax liabilities	Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent.

Airbnb Inc., adjustments to financial statements

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Adjustment to Total Assets
Total assets (as reported)	20,959)	20,645)	16,038)	13,708)	10,491)
Less: Noncurrent deferred tax assets, net	2,439)	2,881)	16)	15)	26)
Total assets (adjusted)	18,520)	17,764)	16,022)	13,694)	10,466)
Adjustment to Total Liabilities
Total liabilities (as reported)	12,547)	12,480)	10,478)	8,933)	7,590)
Less: Noncurrent deferred tax liabilities, net	4)	—)	—)	—)	—)
Total liabilities (adjusted)	12,543)	12,480)	10,478)	8,933)	7,590)
Adjustment to Stockholders’ Equity
Stockholders’ equity (as reported)	8,412)	8,165)	5,560)	4,776)	2,902)
Less: Net deferred tax assets (liabilities)	2,435)	2,881)	16)	15)	26)
Stockholders’ equity (adjusted)	5,977)	5,284)	5,544)	4,761)	2,876)
Adjustment to Net Income (loss)
Net income (loss) (as reported)	2,648)	4,792)	1,893)	(352)	(4,585)
Add: Deferred income tax expense (benefit)	433)	(2,875)	(1)	11)	(20)
Net income (loss) (adjusted)	3,081)	1,917)	1,892)	(341)	(4,604)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Airbnb Inc., Financial Data: Reported vs. Adjusted

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Airbnb Inc., adjusted financial ratios

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Profit Margin
Reported net profit margin	23.85%	48.32%	22.54%	-5.88%	-135.71%
Adjusted net profit margin	27.75%	19.33%	22.53%	-5.69%	-136.30%
Total Asset Turnover
Reported total asset turnover	0.53	0.48	0.52	0.44	0.32
Adjusted total asset turnover	0.60	0.56	0.52	0.44	0.32
Financial Leverage
Reported financial leverage	2.49	2.53	2.88	2.87	3.62
Adjusted financial leverage	3.10	3.36	2.89	2.88	3.64
Return on Equity (ROE)
Reported ROE	31.48%	58.69%	34.05%	-7.37%	-158.00%
Adjusted ROE	51.55%	36.28%	34.13%	-7.16%	-160.08%
Return on Assets (ROA)
Reported ROA	12.63%	23.21%	11.80%	-2.57%	-43.70%
Adjusted ROA	16.64%	10.79%	11.81%	-2.49%	-43.99%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Financial ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Airbnb Inc. adjusted net profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Airbnb Inc. adjusted total asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024.
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Airbnb Inc. adjusted financial leverage ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024 not reaching 2022 level.
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity.	Airbnb Inc. adjusted ROE improved from 2022 to 2023 and from 2023 to 2024.
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Airbnb Inc. adjusted ROA deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Airbnb Inc., Financial Ratios: Reported vs. Adjusted

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	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Selected Financial Data (US$ in millions)
Net income (loss)	2,648)	4,792)	1,893)	(352)	(4,585)
Revenue	11,102)	9,917)	8,399)	5,992)	3,378)
Profitability Ratio
Net profit margin¹	23.85%	48.32%	22.54%	-5.88%	-135.71%
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income (loss)	3,081)	1,917)	1,892)	(341)	(4,604)
Revenue	11,102)	9,917)	8,399)	5,992)	3,378)
Profitability Ratio
Adjusted net profit margin²	27.75%	19.33%	22.53%	-5.69%	-136.30%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

¹ Net profit margin = 100 × Net income (loss) ÷ Revenue
= 100 × 2,648 ÷ 11,102 = 23.85%

² Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Revenue
= 100 × 3,081 ÷ 11,102 = 27.75%

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Profitability ratio	Description	The company
Adjusted net profit margin	An indicator of profitability, calculated as adjusted net income divided by total revenue.	Airbnb Inc. adjusted net profit margin ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Selected Financial Data (US$ in millions)
Revenue	11,102)	9,917)	8,399)	5,992)	3,378)
Total assets	20,959)	20,645)	16,038)	13,708)	10,491)
Activity Ratio
Total asset turnover¹	0.53	0.48	0.52	0.44	0.32
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Revenue	11,102)	9,917)	8,399)	5,992)	3,378)
Adjusted total assets	18,520)	17,764)	16,022)	13,694)	10,466)
Activity Ratio
Adjusted total asset turnover²	0.60	0.56	0.52	0.44	0.32

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

¹ Total asset turnover = Revenue ÷ Total assets
= 11,102 ÷ 20,959 = 0.53

² Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= 11,102 ÷ 18,520 = 0.60

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Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Airbnb Inc. adjusted total asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024.

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Selected Financial Data (US$ in millions)
Total assets	20,959)	20,645)	16,038)	13,708)	10,491)
Stockholders’ equity	8,412)	8,165)	5,560)	4,776)	2,902)
Solvency Ratio
Financial leverage¹	2.49	2.53	2.88	2.87	3.62
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted total assets	18,520)	17,764)	16,022)	13,694)	10,466)
Adjusted stockholders’ equity	5,977)	5,284)	5,544)	4,761)	2,876)
Solvency Ratio
Adjusted financial leverage²	3.10	3.36	2.89	2.88	3.64

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

¹ Financial leverage = Total assets ÷ Stockholders’ equity
= 20,959 ÷ 8,412 = 2.49

² Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= 18,520 ÷ 5,977 = 3.10

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Solvency ratio	Description	The company
Adjusted financial leverage	A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.	Airbnb Inc. adjusted financial leverage ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024 not reaching 2022 level.

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Selected Financial Data (US$ in millions)
Net income (loss)	2,648)	4,792)	1,893)	(352)	(4,585)
Stockholders’ equity	8,412)	8,165)	5,560)	4,776)	2,902)
Profitability Ratio
ROE¹	31.48%	58.69%	34.05%	-7.37%	-158.00%
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income (loss)	3,081)	1,917)	1,892)	(341)	(4,604)
Adjusted stockholders’ equity	5,977)	5,284)	5,544)	4,761)	2,876)
Profitability Ratio
Adjusted ROE²	51.55%	36.28%	34.13%	-7.16%	-160.08%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

¹ ROE = 100 × Net income (loss) ÷ Stockholders’ equity
= 100 × 2,648 ÷ 8,412 = 31.48%

² Adjusted ROE = 100 × Adjusted net income (loss) ÷ Adjusted stockholders’ equity
= 100 × 3,081 ÷ 5,977 = 51.55%

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Profitability ratio	Description	The company
Adjusted ROE	A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity.	Airbnb Inc. adjusted ROE improved from 2022 to 2023 and from 2023 to 2024.

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
As Reported
Selected Financial Data (US$ in millions)
Net income (loss)	2,648)	4,792)	1,893)	(352)	(4,585)
Total assets	20,959)	20,645)	16,038)	13,708)	10,491)
Profitability Ratio
ROA¹	12.63%	23.21%	11.80%	-2.57%	-43.70%
Adjusted for Deferred Taxes
Selected Financial Data (US$ in millions)
Adjusted net income (loss)	3,081)	1,917)	1,892)	(341)	(4,604)
Adjusted total assets	18,520)	17,764)	16,022)	13,694)	10,466)
Profitability Ratio
Adjusted ROA²	16.64%	10.79%	11.81%	-2.49%	-43.99%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

¹ ROA = 100 × Net income (loss) ÷ Total assets
= 100 × 2,648 ÷ 20,959 = 12.63%

² Adjusted ROA = 100 × Adjusted net income (loss) ÷ Adjusted total assets
= 100 × 3,081 ÷ 18,520 = 16.64%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as adjusted net income divided by adjusted total assets.	Airbnb Inc. adjusted ROA deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Airbnb Inc. (NASDAQ:ABNB)

Analysis of Income Taxes

Income Tax Expense (Benefit)

Effective Income Tax Rate (EITR)

Components of Deferred Tax Assets and Liabilities

Deferred Tax Assets and Liabilities, Classification

Adjustments to Financial Statements: Removal of Deferred Taxes

Airbnb Inc., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)

Airbnb Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

Adjusted Total Asset Turnover

Adjusted Financial Leverage

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)