UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
___________________________________________________________
FORM 11-K
___________________________________________________________
- ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2018
OR
- TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ____________ to _____________
Commission File Number: 001-37429
___________________________________________________________
-
Full title of the plan and the address of the plan, if different from that of the issuer named below:
EXPEDIA RETIREMENT SAVINGS PLAN - Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
Expedia Group, Inc.
333 108th Avenue NE Bellevue, WA 98004
Expedia Retirement Savings Plan
Financial Statements and
Supplemental Information
December 31, 2018 and 2017
and for the Year Ended December 31, 2018
Contents
Report of Independent Registered Public Accounting Firm | 1 |
Audited Financial Statements | |
Statements of Net Assets Available for Benefits | 2 |
Statement of Changes in Net Assets Available for Benefits | 3 |
Notes to Financial Statements | 4 |
Supplemental Information | |
Schedule G, Part III - Schedule of Nonexempt Transactions | 10 |
Schedule H, Line 4i - Schedule of Assets (Held at End of Year) | 11 |
Signature | 12 |
Exhibit Index | 13 |
Note: All other schedules required under Section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Benefit Plans Administration Committee
Expedia Retirement Savings Plan
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of the Expedia Retirement Savings Plan (the "Plan") as of December 31, 2018 and 2017, the related statement of changes in net assets available for benefits for the year ended December 31, 2018, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2018 and 2017, and the changes in net assets available for benefits for the year December 31, 2018, in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures to respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Opinion on the Supplemental Information
The supplemental information included in Schedule H, line 4(i) - Schedule of Assets (Held at End of Year) as of December 31, 2018, and Schedule G, Part III
- Schedule of Nonexempt Transactions for the year ended December 31, 2018, has been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental information is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information in the accompanying schedules, we evaluated whether the supplemental information, including its form and content, is presented in conformity with DOL's Rules and Regulations for Reporting and Disclosure under ERISA. In our opinion, the supplemental information in the accompanying schedules is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ Moss Adams LLP
Seattle, Washington
June 24, 2019
We have served as the Plan's auditor since 2010.
1
Expedia Retirement Savings Plan
Statements of Net Assets Available for Benefits
December 31, | |||||
2018 | 2017 | ||||
Assets | |||||
Investments, at fair value | $ | 787,521,544 | $ | 755,217,489 | |
Notes receivable from participants | 11,035,194 | 8,751,754 | |||
Employer contribution receivable | 1,920,896 | 2,140,653 | |||
Other receivable | 4,570 | 1,523 | |||
Net assets available for benefits | $ | 800,482,204 | $ | 766,111,419 | |
See accompanying notes.
2
Expedia Retirement Savings Plan | ||
Statement of Changes in Net Assets Available for Benefits | ||
Year Ended December 31, 2018 | ||
Contributions: | ||
Participant contributions | $ | 89,847,515 |
Employer contributions | 29,076,095 | |
Rollover contributions | 18,068,210 | |
Total contributions | 136,991,820 | |
Investment income (loss): | ||
Net realized and unrealized depreciation in fair value of investments | (86,893,939) | |
Dividend and interest income on investments | 34,334,568 | |
Total investment loss | (52,559,371) | |
Interest income on notes receivable from participants | 487,783 | |
Deductions: | ||
Benefits paid to participants | 49,745,592 | |
Administrative expenses | 803,855 | |
Total deductions | 50,549,447 | |
Net increase in net assets available for benefits | 34,370,785 | |
Net assets available for benefits at: | ||
Beginning of year | 766,111,419 | |
End of year | $ | 800,482,204 |
See accompanying notes.
3
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Expedia Group Inc. published this content on 24 June 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 June 2019 21:35:02 UTC