Expedia 2013 Annual Report Download - page 128

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NOTE 20 — Quarterly Financial Information (Unaudited)
Three Months Ended
December 31 September 30 June 30 March 31
(In thousands, except per share data)
Year ended December 31, 2013
Revenue $1,152,015 $1,401,860 $1,205,017 $1,012,367
Operating income (loss) 138,711 238,691 94,286 (105,628)
Net income (loss) from continuing operations 93,987 166,724 63,015 (107,368)
Net income (loss) attributable to Expedia, Inc. 94,717 170,859 71,500 (104,226)
Earnings (loss) per share from continuing operations
attributable to Expedia, Inc. available to common
stockholders:
Basic earnings (loss) per share(1) $ 0.72 $ 1.25 $ 0.52 $ (0.77)
Diluted earnings (loss) per share(1) 0.70 1.22 0.51 (0.77)
Earnings (loss) per share attributable to Expedia, Inc.
available to common stockholders:
Basic earnings (loss) per share(1) $ 0.72 $ 1.25 $ 0.52 $ (0.77)
Diluted earnings (loss) per share(1) 0.70 1.22 0.51 (0.77)
Year ended December 31, 2012
Revenue $ 974,859 $1,199,020 $1,039,980 $ 816,488
Operating income(2) 1,510 227,090 154,441 48,683
Net income from continuing operations(3) 7,095 168,188 106,109 21,587
Discontinued operations, net of taxes (193) 1,543 — (23,889)
Net income (loss) attributable to Expedia, Inc. 6,734 171,477 105,241 (3,281)
Earnings per share from continuing operations
attributable to Expedia, Inc. available to common
stockholders:
Basic earnings per share(1) $ 0.05 $ 1.25 $ 0.79 $ 0.15
Diluted earnings per share(1) 0.05 1.20 0.76 0.15
Earnings per share attributable to Expedia, Inc.
available to common stockholders:
Basic earnings (loss) per share(1) $ 0.05 $ 1.26 $ 0.79 $ (0.02)
Diluted earnings (loss) per share(1) 0.05 1.21 0.76 (0.02)
(1) Earnings per share is computed independently for each of the quarters presented. Therefore, the sum of the
quarterly earnings per share may not equal the total computed for the year. In addition, for 2011, the per
share information attributable to Expedia, Inc. common shareholders reflects the one-for-two reverse stock
split in connection with the spin-off.
(2) During the fourth quarter of 2012, we recognized $110 million related to monies expected to be paid in
advance of litigation related to Hawaii’s General Excise Tax.
(3) The effective tax rate for the fourth quarter of 2012 was 144.4% primarily due to lower than previously
estimated full year pre-tax income, driven by the tax reserves accrued during the quarter related to Hawaii.
NOTE 21 — Guarantor and Non-Guarantor Supplemental Financial Information
Condensed consolidating financial information of Expedia, Inc. (the “Parent”), our subsidiaries that are
guarantors of our debt facility and instruments (the “Guarantor Subsidiaries”), and our subsidiaries that are not
guarantors of our debt facility and instruments (the “Non-Guarantor Subsidiaries”) is shown below. The debt
facility and instruments are guaranteed by certain of our wholly-owned domestic subsidiaries and rank equally in
F-46