What do I do about my window air conditioner?

My boyfriend recently bought an older model window air conditioner from his boss's mother who ped. It works wonders, cools the room, but when we take it out of the window, there is a pool of water that settles and pours out on the floor. Is this normal? I cant constantly leave it in the window because it fits funny (not dangerously, just funny) but also, the pool of water is bothering me. When it's putting out air, is it dripping to the outside? is that how it works? is there a drain thing at the bottom for it to pour out ever so I can limit the puddling on the floor? Thank you!