TripAdvisor 2011 Annual Report Download - page 71

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Table of Contents
TRIPADVISOR, INC.
CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
The accompanying notes are an integral part of these consolidated and combined financial statements.
67
Year ended December 31,
2011
2010
2009
Revenue
$
426,045
$
313,525
$
212,375
Related
-
party revenue from Expedia
211,018
171,110
139,714
Total revenue
637,063
484,635
352,089
Costs and expenses:
Cost of revenue (exclusive of amortization) (1)
10,873
7,345
4,569
Selling and marketing (2)
209,176
140,470
105,679
Technology and content (2)
57,448
43,321
29,331
General and administrative (2)
44,770
31,819
14,286
Related
-
party shared services fee
9,222
7,900
6,910
Depreciation
18,362
12,871
9,330
Amortization of intangible assets
7,523
14,609
13,806
Spin
-
Off costs
6,932
—
—
Total costs and expenses
364,306
258,335
183,911
Operating income
272,757
226,300
168,178
Other income (expense):
Related
-
party interest income (expense), net
544
(241
)
(978
)
Other interest expense, net
(153
)
—
—
Other, net
(1,254
)
(1,644
)
(660
)
Total other expense, net
(863
)
(1,885
)
(1,638
)
Income before income taxes
271,894
224,415
166,540
Provision for income taxes
(94,103
)
(85,461
)
(64,325
)
Net income
177,791
138,954
102,215
Net (income) loss attributable to noncontrolling interest
(114
)
(178
)
212
Net income attributable to TripAdvisor, Inc.
$
177,677
$
138,776
$
102,427
Earnings Per Share attributable to TripAdvisor, Inc
:
Basic
$
1.33
$
1.04
$
0.77
Diluted
$
1.32
$
1.04
$
0.77
Weighted Average Common Shares Outstanding:
Basic
133,461
133,461
133,461
Diluted
134,865
133,461
133,461
(1) Excludes amortization as follows:
Amortization of acquired technology included in amortization of intangibles
$
578
$
1,080
$
4,356
Amortization of website development costs included in depreciation
12,438
8,104
5,992
$
13,016
$
9,184
$
10,348
(2) Includes stock
-
based compensation as follows:
Selling and marketing
$
3,216
$
2,101
$
1,885
Technology and content
3,931
2,661
2,276
General and administrative
10,197
2,421
1,744