TripAdvisor 2014 Annual Report Download - page 68
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58
TRIPADVISOR, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share data)
Year ended December 31,
2014 2013 2012
Revenue (Note 2) ............................................................................................ $ 1,246 $ 945 $ 763
Costs and expenses:
Cost of revenue (1) .................................................................................... 40 18 12
Selling and marketing (2) .......................................................................... 502 368 266
Technology and content (2) ....................................................................... 171 131 87
General and administrative (2) .................................................................. 128 98 76
Depreciation .............................................................................................. 47 30 20
Amortization of intangible assets .............................................................. 18 6 6
Total costs and expenses: 906 651 467
Operating income ............................................................................................ 340 294 296
Other income (expense):
Interest expense ......................................................................................... (9) (10 ) (11)
Interest income and other, net .................................................................... (9) - (3)
Total other expense, net .................................................................................. (18) (10 ) (14)
Income before income taxes ............................................................................ 322 284 282
Provision for income taxes ........................................................................ (96) (79 ) (87)
N
et inco
m
e ...................................................................................................... 226 205 195
N
et (income) loss attributable to noncontrolling interest ................................ - - (1)
N
et income attributable to TripAdvisor, Inc. .................................................. $ 226 $ 205 $ 194
Earnings per share attributable to TripAdvisor, Inc.
available to common stockholders (Note 2):
Basic .......................................................................................................... $ 1.58 $ 1.44 $ 1.39
Diluted ....................................................................................................... $ 1.55 $ 1.41 $ 1.37
Weighted average common shares outstanding (Note 2):
Basic .......................................................................................................... 143 143 139
Diluted ....................................................................................................... 146 145 141
(1) Excludes amortization as follows:
Amortization of acquired technology included in
amortization of intangibles ..................................................................... $ 4 $ 1 $ 1
Amortization of website development costs included in
depreciation ............................................................................................ 30 20 13
$34 $ 21 $ 14
(2) Includes stock-based compensation expense as follows:
Selling and marketing ................................................................................ $13 $ 11 $ 5
Technology and content ............................................................................. $27 $ 21 $ 11
General and administrative ........................................................................ $23 $ 17 $ 14
The accompanying notes are an integral part of these consolidated financial statements.