Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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Hilton Worldwide Holdings Inc., consolidated balance sheet: assets

US$ in millions

		Dec 31, 2023		Dec 31, 2022		Dec 31, 2021		Dec 31, 2020		Dec 31, 2019
	Cash and cash equivalents
	Restricted cash and cash equivalents
	Accounts receivable, net of allowance for credit losses
	Prepaid expenses
	Other
	Current assets
	Goodwill
	Brands
	Management and franchise contracts, net
	Other intangible assets, net
	Intangible assets, net
	Operating lease right-of-use assets
	Property and equipment, net
	Deferred income tax assets
	Other
	Intangibles and other assets
	Total assets

Based on: 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), 10-K (reporting date: 2019-12-31).

Cash and Cash Equivalents: The cash and cash equivalents exhibited a sharp increase from 538 million USD in 2019 to 3218 million USD in 2020, followed by a consistent decline over the subsequent years, reaching 800 million USD by 2023. This pattern indicates a significant liquidity buildup in 2020, possibly due to precautionary measures or strategic reserves, and a gradual drawdown in later periods.
Restricted Cash and Cash Equivalents: Restricted cash fluctuated but remained relatively stable overall, decreasing from 92 million USD in 2019 to 45 million USD in 2020, then gradually increasing again to 85 million USD in 2021 before slightly declining to 75 million USD by 2023. The modest changes suggest limited shifts in the amount of funds subject to restrictions.
Accounts Receivable, Net: Accounts receivable declined sharply in 2020 to 771 million USD from 1261 million USD in 2019, possibly reflecting reduced sales or improved collections during that year. From 2021 onwards, the balance increased steadily each year to 1487 million USD by 2023, indicating recovery and growth in receivables, consistent with business expansion or improving sales conditions.
Prepaid Expenses: Prepaid expenses decreased significantly in 2020 to 70 million USD from 130 million USD in 2019. Subsequently, these amounts rose gradually, reaching 131 million USD in 2023, slightly exceeding the pre-pandemic level. This trend suggests a cautious reduction in prepaid commitments during the uncertain period, followed by a return to normal or increased advance payments.
Other Current Assets: Other current assets increased markedly in 2021 to 202 million USD from 98 million USD in 2020 before declining to 121 million USD in 2023. This indicates a temporary accumulation in 2021, followed by a partial reduction over the final years analyzed.
Current Assets: Total current assets more than doubled from 2093 million USD in 2019 to 4202 million USD in 2020, driven mainly by the increase in cash and cash equivalents. Thereafter, current assets decreased steadily each year to 2614 million USD in 2023, reflecting the drawdown of cash reserves and other current assets with some recovery in accounts receivable and prepaid expenses.
Goodwill: Goodwill declined slightly from 5159 million USD in 2019 to 5052 million USD by 2023, showing minor reductions over the years. This marginal decrease may result from impairments, disposals, or currency effects but indicates relative stability in acquired intangible goodwill value.
Brands: Brand assets remained largely stable, with a slight decline from 4877 million USD in 2019 to 4846 million USD in 2023. The small changes suggest a consistent valuation of brand-related intangible assets over the period.
Management and Franchise Contracts, Net: This category shows sustained growth, increasing from 780 million USD in 2019 to 1064 million USD in 2023. The steady rise indicates expansion in management and franchise agreements, reflecting business growth or acquisitions in franchising operations.
Other Intangible Assets, Net: Other intangible assets declined significantly from 421 million USD in 2019 to 173 million USD in 2023, demonstrating a consistent amortization or impairment trend reducing this asset base over the years.
Intangible Assets, Net: Net intangible assets experienced a decline from 6078 million USD in 2019 to 5823 million USD in 2020, then a gradual increase to 6083 million USD in 2023. The recovery after 2020 may be linked to the growth in management and franchise contracts counterbalancing the reduction in other intangibles.
Operating Lease Right-of-Use Assets: Right-of-use assets under operating leases steadily declined from 867 million USD in 2019 to 618 million USD in 2023, reflecting lease expirations, possible lease terminations, or changes in lease accounting over time.
Property and Equipment, Net: Property and equipment net value decreased from 380 million USD in 2019 to a low of 280 million USD in 2022, before rebounding to 382 million USD in 2023. This pattern may indicate reductions due to disposals or depreciation followed by capital investments or asset revaluations in the final year.
Deferred Income Tax Assets: Deferred income tax assets increased notably in 2020 to 194 million USD from 100 million USD in 2019, peaked slightly higher in 2021 at 213 million USD, then declined to 140 million USD in 2023. These fluctuations likely reflect changes in tax positions, temporary differences, or realizability assessments during these years.
Other Assets: Other long-term assets rose from 280 million USD in 2019 to a peak of 576 million USD in 2022, before decreasing to 512 million USD in 2023. The increase indicates asset accumulation or recognition of additional items, with some realization or disposal in 2023.
Intangibles and Other Assets: This aggregate category showed a gradual decline from 12864 million USD in 2019 to 12553 million USD in 2020, stabilizing around this level with slight increases thereafter, reaching 12787 million USD in 2023. The overall stability suggests a relatively consistent intangible and other asset base with minor fluctuations.
Total Assets: Total assets increased from 14957 million USD in 2019 to a peak of 16755 million USD in 2020, followed by decreases to around 15400 million USD from 2021 through 2023. The initial growth correlates with increased current assets, especially cash, and subsequent reductions reflect a normalization of asset levels post-2020.

Assets: Selected Items

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Current Assets: Selected Items