TripAdvisor 2013 Annual Report Download - page 43
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Item 1B. Unresolved Staff Comments
None.
Item 2. Properties
We currently lease approximately 119,000 square feet for our corporate headquarters in Newton,
Massachusetts, pursuant to a lease with an expiration date of April 2015. In addition, in June 2013 we entered
into an additional lease for an approximately 280,000 square foot rental building which will be built in Needham,
Massachusetts by the lessor and will serve as our new corporate headquarters in conjunction with the expiration
of our current lease. Refer to “Note 12—Commitments and Contingencies” in the notes to our consolidated and
combined financial statements for further information on our future corporate headquarters.
We also lease an aggregate of approximately 382,000 square feet at approximately 30 other locations across
North America, Europe and Asia Pacific, primarily for our international management teams, sales offices, and
subsidiary headquarters, pursuant to leases with expiration dates through December 2030.
We believe that our current facilities are adequate for our current operations and that additional leased space
can be obtained on reasonable terms if needed. We do not legally own any real estate as of December 31, 2013.
Item 3. Legal Proceedings
In the ordinary course of business, we and our subsidiaries are parties to legal proceedings and claims
involving alleged infringement of third-party intellectual property rights, defamation, and other claims. Rules of
the SEC require the description of material pending legal proceedings, other than ordinary, routine litigation
incident to the registrant’s business, and advise that proceedings ordinarily need not be described if they
primarily involve damages claims for amounts (exclusive of interest and costs) not individually exceeding 10%
of the current assets of the registrant and its subsidiaries on a consolidated basis. In the judgment of management,
none of the pending litigation matters that TripAdvisor and our subsidiaries are defending involves or is likely to
involve amounts of that magnitude. There may be claims or actions pending or threatened against us of which we
are currently not aware and the ultimate disposition of which would have a material adverse effect on us.
Item 4. Mine Safety Disclosures
Not applicable.
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