Expedia 2005 Annual Report Download - page 34

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Our business acquisitions were as follows: Premier Getaways (February 2005), eLong (controlling
interest acquired in January 2005), World Travel Management (August 2004), Activity World (April
2004), Egencia (April 2004), TripAdvisor (April 2004), Hotwire.com (November 2003), Expedia.com
(controlling interest acquired in February 2002, and remaining interest acquired in August 2003), and
Hotels.com (controlling interest acquired in May 1999, and remaining interest acquired in June 2003).
Effective January 1, 2004, as a result of a change in Hotels.com business, Hotels.com started
reporting its merchant hotel business revenue net of the amount payable to the hotel property. Hotels.com
reported its merchant hotel business revenue on a gross basis prior to January 1, 2004. For additional
information about our revenue recognition policy, see Note 2, Significant Accounting Policies, in the notes
to consolidated financial statements.
For information about the shares used in computing our earning per share, see Note 15, Earnings Per
Share, in the notes to consolidated financial statements.
EXPEDIA, INC.
SELECTED FINANCIAL DATA
(In thousands, except per share data)
Year Ended December 31,
2005 2004 2003 2002 2001(1)
Statements of Income Data:
Revenue ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $2,119,455 $1,843,013 $2,339,813 $1,499,075 $536,497
Operating income ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 397,052 240,473 243,518 193,770 15,811
Net income ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 228,730 163,473 111,407 76,713 8,901
Net earnings per share available to
common stockholders:
BasicÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ 0.68 $ 0.49 $ 0.33 $ 0.23 $ 0.03
Diluted ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0.65 0.48 0.33 0.23 0.03
Shares used in computing earnings per
share:
BasicÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 336,819 335,540 335,540 335,540 335,540
Diluted ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 349,530 340,549 340,549 340,549 340,549
December 31,
2005 2004 2003 2002 2001
Balance Sheet Data:
Working capital (deficit) ÏÏÏÏÏÏÏÏÏÏÏÏ $ (847,981) $1,263,678 $ 854,838 $ 528,630 $140,376
Total assets ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 7,756,892 9,537,187 8,755,270 3,203,082 643,835
Minority interest ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 71,774 18,435 Ì 592,054 315,999
Total stockholders' equity ÏÏÏÏÏÏÏÏÏÏÏ 5,733,763 N/A N/A N/A N/A
Total invested equityÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ N/A 8,152,629 7,554,301 2,055,756 225,890
(1) Our reported net income in 2001 includes $29.2 million of amortization related to goodwill and other
intangible assets with indefinite lives. If Statement of Financial Accounting Standards No. 142,
""Goodwill and Other Intangible Assets,'' was effective January 1, 2001, our net income as adjusted
would have been $38.1 million.
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