TripAdvisor 2014 Annual Report Download - page 107

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97
TripAdvisor, Inc.
Quarterly Financial Information (Unaudited)
(in thousands, except per share data)
The following table presents selected unaudited financial information for the eight quarters in the period ended December 31,
2014. The results for any quarter are not necessarily indicative of future quarterly results and, accordingly, period to period
comparisons should not be relied upon as an indication of future performance.
Three Months Ended
March 31 June 30 September 30 December 31
(in millions)
Year ended December 31, 2014
Revenue ........................................................................... $281 $ 323 $ 354 $288
Operating income ............................................................ 96 100 84 60
N
et income ...................................................................... 68 68 54 36
N
et income attributable to TripAdvisor, Inc. .................. 68 68 54 36
Basic earnings per share .................................................. $0.48 $ 0.48 $ 0.38 $0.25
Diluted earnings per share ............................................... $0.47 $ 0.47 $ 0.37 $0.25
Year ended December 31, 2013
Revenue ........................................................................... $230 $ 247 $ 255 $213
Operating income ............................................................ 88 94 84 28
N
et income ...................................................................... 62 67 56 20
N
et income attributable to TripAdvisor, Inc. .................. 62 67 56 20
Basic earnings per share .................................................. $0.44 $ 0.47 $ 0.39 $0.14
Diluted earnings per share ............................................... $0.43 $ 0.46 $ 0.38 $0.14
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
Item 9A. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
As of December 31, 2014, our management, with the participation of our Chief Executive Officer and President and our Chief
Financial Officer, evaluated the effectiveness of our disclosure controls and procedures pursuant to Rule 13a-15(e) and 15d-15(e)
promulgated under the Securities Exchange Act of 1934, as amended, or the Exchange Act. Based upon that evaluation, our Chief
Executive Officer and President and our Chief Financial Officer concluded that, as of December 31, 2014, our disclosure controls and
procedures were effective in ensuring that material information required to be disclosed in the reports that we file or submit under the
Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange
Commission’s, or the SEC’s, rules and forms, including ensuring that such material information is accumulated and communicated to
our management, including our Chief Executive Officer and President and our Chief Financial Officer, as appropriate to allow timely
decisions regarding required disclosure.
Changes in Internal Control over Financial Reporting
There were no changes to our internal control over financial reporting that occurred during the quarter ended December 31,
2014 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
Management’s Report on Internal Control over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in
Rule 13a-15(f) of the Exchange Act. Internal control over financial reporting is a process to provide reasonable assurance regarding
the reliability of our financial reporting for external purposes in accordance with accounting principles generally accepted in the
United States of America. Under the supervision and with the participation of the Company’s management, including the Chief
Executive Officer and President and the Chief Financial Officer, the Company conducted an evaluation of the effectiveness of our
internal control over financial reporting based on the criteria for effective internal control over financial reporting described in Internal
Control—Integrated Framework (1992) issued by the Committee of Sponsoring Organizations of the Treadway Commission.