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Item 6. Selected Financial Data
SELECTED FINANCIAL DATA
Company, and should be read in connection with those statements, some of which are included herein. Selected financial data reflects data
related to rentalcars.com from its acquisition date of May 2010, KAYAK from its acquisition date of May 2013 and OpenTable from its
acquisition date of July 2014. The information set forth below is not necessarily indicative of future results and should be read in conjunction
with Part II Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations.
_____________________________
39
Year Ended December 31,
2014
2013
2012
2011
2010
(In thousands, except per share amounts)
Total revenues
$
8,441,971
$
6,793,306
$
5,260,956
$
4,355,610
$
3,084,905
Cost of revenues
857,841
1,077,420
1,177,275
1,275,730
1,175,934
Gross profit
7,584,130
5,715,886
4,083,681
3,079,880
1,908,971
Total operating expenses
4,510,818
3,303,472
2,253,888
1,680,958
1,122,174
Operating income
3,073,312
2,412,414
1,829,793
1,398,922
786,797
Total other expense
83,864
115,877
67,924
31,128
40,514
Income tax expense
567,695
403,739
337,832
308,663
218,141
Net income
2,421,753
1,892,798
1,424,037
1,059,131
528,142
Net income attributable to noncontrolling interests
(1)
—
135
4,471
2,760
601
Net income applicable to common stockholders
2,421,753
1,892,663
1,419,566
1,056,371
527,541
Net income applicable to common stockholders
per basic common share
46.30
37.17
28.48
21.27
11.00
Net income applicable to common stockholders
per diluted share
45.67
36.11
27.66
20.63
10.35
Total assets
14,940,563
10,444,460
6,569,742
3,970,671
2,905,953
Long-term obligations, redeemable noncontrolling
interests
(2)
5,031,073
2,304,917
1,731,385
788,218
621,624
Total liabilities
6,373,540
3,526,198
2,457,825
1,191,971
1,046,828
Total stockholders' equity
8,566,694
6,909,729
3,896,975
2,574,295
1,813,336
(1)
Redeemable noncontrolling interests beginning in 2010 relates to the Company's purchase of rentalcars.com in May 2010. In April
2011, in connection with the exercise of certain call and put options in March 2011, the redeemable noncontrolling interests in
rentalcars.com were reduced from 24.4% to 19.0%. In April 2012, in connection with the exercise of certain call and put options in
March 2012, the redeemable noncontrolling interests in rentalcars.com were reduced from 19.0% to 12.7%. In April 2013, in
connection with the exercise of certain call and put options in March 2013, the Company purchased the remaining outstanding shares
underlying the redeemable noncontrolling interests.
(2)
Includes convertible debt which is classified as a current liability.