Hilton Worldwide Holdings Inc.

NYSE-HLT

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Operating Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Net Income	742	849	690	529	622	679
Net Income
Depreciation & Amortization	111	101	95	95	95	98
Depreciation and Amortization Expenses
Amortization of Contract Acquisition Costs
Stock Based Compensation	91	80	96	84	85	78
Share-Based Compensation Expense
Other Adjustments	-19	-182	-41	-170	68	50
Impairment Losses
Gain on Sales of Assets, Net
Equity in Earnings from Unconsolidated Affiliates
Gain on Foreign Currency Transactions
Other Gain, Net
Gain on Debt Extinguishment
Gain on Investments in Unconsolidated Affiliate
Amortization of Deferred Financing Costs and Discounts
Deferred Income Taxes
Change in Operating Lease Right-of-Use Assets
Change in Operating Lease Liabilities
Changes in Trade Receivables	—	-103	—	-126	—	-270
Accounts Receivable, Net
Changes in Inventories	—	—	—	—	—	—
Inventories
Changes in Accounts Payable	—	155	—	181	—	198
Accounts Payable, Accrued Expenses and Other
Changes in Income Taxes Payable	—	—	—	—	—	—
Income Taxes Payable
Changes in Unearned Revenue	85	261	69	215	—	174
Change in Deferred Revenues
Changes in Other Operating Activities	100	85	-142	344	-76	144
Distributions from Unconsolidated Affiliates
Change in Restricted Cash and Cash Equivalents
Contract Acquisition Costs, Net of Refunds
Prepaid Expenses
Income Taxes Receivable
Other Current Assets
Change in Timeshare Financing Receivables
Change in Liability for Guest Loyalty Program
Change in Other Liabilities
Other
Working Capital Changes and Other
Cash from Operating Activities	1,110	1,246	767	1,152	794	1,153
Net Cash Provided by Operating Activities

Investing Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Capital Expenditure	-42	-65	-31	-77	-74	-28
Capital Expenditures for Property and Equipment
Proceeds from Sale of Property, Plant & Equipment	—	—	8	5	—	—
Proceeds from Asset Dispositions
Purchases of Intangible Assets	-41	-61	-41	-54	-42	-38
Capitalized Software Costs
Purchases of Investments	-1	-3	-2	-11	-4	-2
Investments in Unconsolidated Affiliates
Payments for Business Acquisitions	-2	—	-236	—	—	—
Cash Paid for Acquisitions, Net of Cash Acquired
Other Investing Activities	—	1	-16	-14	-34	39
Issuance of Financing Receivables
Payments Received on Financing Receivables
Settlements of Undesignated Derivative Financial Instruments
Distributions from Unconsolidated Affiliates
Other
Cash from Investing Activities	-86	-128	-318	-151	-154	-29
Net Cash Provided by Investing Activities

Financing Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Issuance of Long-Term Debt	650	1,000	1,283	609	—	5
Borrowings
Repayments of Long-Term Debt	-881	-29	-301	-162	-21	-23
Repayment of Debt
Net Issuance / (Repayments) of Long-Term Debt	-231	971	982	447	-21	-18
Issuance of Common Shares	40	46	47	23	28	13
Proceeds from Share-Based Compensation
Repurchases of Common Shares	-1,644	-1,491	-1,402	-1,418	-920	-1,004
Repurchases of Common Stock
Net Issuance / (Repurchases) of Common Shares	-1,604	-1,445	-1,355	-1,395	-892	-991
Common Share Dividends Paid	-73	-74	-76	-77	-81	-82
Dividends Paid
Other Financing Activities	-52	9	-57	16	-37	5
Debt Issuance Costs
Change in Restricted Cash and Cash Equivalents
Cash Transferred in Spin-Offs
Distributions to Noncontrolling Interests
Excess Tax Benefits from Share-Based Compensation
Share-Based Compensation Tax Withholdings and Other
Share-Based Compensation Tax Withholdings
Settlements of Interest Rate Swap with Financing Component
Other
Cash from Financing Activities	-1,960	-539	-506	-1,009	-1,031	-1,086
Net Cash Provided by Financing Activities

Free Cash Flow	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Free Cash Flow	1,068	1,181	736	1,075	720	1,125
NOPAT	938.4	1,141.6	908	677.7	837.9	822.8
Levered Free Cash Flow	763	2,357	1,659	1,729	541	1,243
Unlevered Free Cash Flow	1,192.4	1,678.6	899	1,435.7	782.9	1,408.8
Net Change in Cash	-936	579	-57	-8	-391	38