TripAdvisor 2011 Annual Report Download - page 105

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Table of Contents
The following table presents property and equipment, net for the United States and all other countries based on the geographic location of
the assets, as of December 31, 2011 and 2010:
NOTE 13—STOCKHOLDERS’ EQUITY
Common Stock and Class B Common Stock
Our authorized Common Stock consists of 1.6 billion shares of Common Stock with par value of $0.001 per share, and 400 million shares
of Class B Common Stock with par value of $0.001 per share. Both classes of Common Stock qualify for and share equally in dividends, if
declared by our Board of Directors. Common Stock is entitled to one vote per share and Class B Common Stock is entitled to 10 votes per share.
Holders of Common Stock, voting as a single, separate class are entitled to elect 25% of the total number of directors. Class B Common
Stockholders may, at any time, convert their shares into Common Stock, on a one for one share basis. Upon conversion, the Class B Common
Stock is retired and is not available for reissue. In the event of liquidation, dissolution, distribution of assets or winding-up of TripAdvisor the
holders of both classes of Common Stock have equal rights to receive all the assets of TripAdvisor after the rights of the holders of the preferred
stock have been satisfied.
As discussed in “Note 1— Organization and Basis of Presentation”, in connection with the Spin-Off a one-for-two reverse stock split of
outstanding Expedia capital stock occurred immediately prior to the Spin-Off, which resulted in 120,661,020 shares of Common Stock and
12,799,999 shares of Class B Common Stock outstanding immediately following the Spin-Off.
Preferred Stock
In addition to Common Stock, we are authorized to issue up to 100 million preferred shares, with $ 0.001 par value per share, with terms
determined by our Board of Directors, without further action by the stockholders. At December 31, 2011, no preferred shares had been issued.
Share Repurchases
During the period December 21, 2011 through December 31, 2011, our Board of Director did not authorize any share buyback program
and we have not repurchased any shares of outstanding Common Stock.
Dividends
During the period December 21, 2011 through December 31, 2011, our Board of Directors did not declare any dividends on our
outstanding Common Stock.
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss), net of tax for 2011 and 2010 is comprised of accumulated foreign currency translation
adjustments.
101
As of December 31,
2011
2010
(In thousands)
Property and equipment, net
United States
$
30,138
$
27,812
All other countries
4,616
2,932
$
34,754
$
30,744