Expedia 2013 Annual Report Download - page 85

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Consolidated Financial Statements
EXPEDIA, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
Year ended December 31,
2013 2012 2011
(In thousands, except for per share data)
Revenue $4,771,259 $4,030,347 $3,449,009
Costs and expenses:
Cost of revenue(1) 1,038,034 898,604 761,272
Selling and marketing (including $217,771, $205,027, and
$211,018 with a related party)(1) 2,196,145 1,721,037 1,474,641
Technology and content(1) 577,820 484,898 380,999
General and administrative(1) 377,078 345,354 309,708
Amortization of intangible assets 71,731 31,705 21,925
Acquisition-related and other(1) 66,472 — —
Legal reserves, occupancy tax and other 77,919 117,025 20,855
Operating income 366,060 431,724 479,609
Other income (expense):
Interest income 24,779 26,396 20,218
Interest expense (87,358) (87,788) (90,718)
Other, net (2,788) (20,275) (7,037)
Total other expense, net (65,367) (81,667) (77,537)
Income from continuing operations before income taxes 300,693 350,057 402,072
Provision for income taxes (84,335) (47,078) (75,731)
Income from continuing operations 216,358 302,979 326,341
Discontinued operations, net of taxes — (22,539) 148,262
Net income 216,358 280,440 474,603
Net (income) loss attributable to noncontrolling interests 16,492 (269) (2,309)
Net income attributable to Expedia, Inc. $ 232,850 $ 280,171 $ 472,294
Amounts attributable to Expedia, Inc.:
Income from continuing operations $ 232,850 $ 302,710 $ 324,146
Discontinued operations, net of taxes — (22,539) 148,148
Net income $ 232,850 $ 280,171 $ 472,294
Earnings per share from continuing operations attributable to
Expedia, Inc. available to common stockholders:
Basic $ 1.73 $ 2.26 $ 2.39
Diluted 1.67 2.16 2.34
Earnings per share attributable to Expedia, Inc. available to
common stockholders:
Basic $ 1.73 $ 2.09 $ 3.48
Diluted 1.67 2.00 3.41
Shares used in computing earnings per share:
Basic 134,912 134,203 135,888
Diluted 139,593 139,929 138,702
Dividends declared per common share $ 0.56 $ 0.96 $ 0.56
(1) Includes stock-based compensation as follows:
Cost of revenue $ 3,752 $ 3,296 $ 2,971
Selling and marketing 16,190 13,474 13,085
Technology and content 20,465 16,073 13,505
General and administrative 33,123 31,753 34,286
Acquisition-related and other 56,643 — —
See notes to consolidated financial statements.
F-3