TripAdvisor 2015 Annual Report Download - page 66

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TRIPADVISOR, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
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 Year ended December 31,
 2015 2014 2013
Operating activities: 
Netincome  $ 198  $ 226  $ 205
Adjustmentstoreconcilenetincometonetcashprovidedbyoperatingactivities:            
Depreciationofpropertyandequipment,includingamortizationofinternal-use
softwareandwebsitedevelopment   57   47   30
Amortizationofintangibleassets   36   18   6
Stock-basedcompensationexpense   72   63   49
Non-cashcontributiontocharitablefoundation(Note12)   67   -   -
Gainonsaleofbusiness(Note3)   (20)   -   -
Deferredtax(benefit)expense   (37)   (17)   5
Excesstaxbenefitsfromstock-basedcompensation   (36)   (20)   (12)
Other,net   9   18   8
Changesinoperatingassetsandliabilities,netofeffectsfromacquisitions
anddispositions:         
Accountsreceivable,prepaidexpensesandotherassets   (31)   (26)   (12)
Accountspayable,accruedexpensesandotherliabilities   13   18   17
Deferredmerchantpayables   15   (9)   17
Incometaxes,net   32   60   27
Deferredrevenue   7   9   9
Net cash provided by operating activities   382   387   349
Investing activities:            
Capitalexpenditures,includinginternal-usesoftwareandwebsitedevelopment   (109)   (81)   (55)
Acquisitions,netofcashacquired   (29)   (331)   (35)
Proceedsfromsaleofbusiness,netofcashsold   25   -   -
Purchasesofmarketablesecurities   (205)   (251)   (432)
Salesofmarketablesecurities   187   336   175
Maturitiesofmarketablesecurities   71   93   151
Net cash used in investing activities   (60)   (234)   (196)
Financing activities:            
Repurchaseofcommonstock   -   -   (145)
ProceedsfromChinesecreditfacilities   4   13   10
PaymentstoChinesecreditfacilities   (41)   (3)   (15)
Principalpaymentsontermloan   (300)   (40)   (40)
Proceedsfromrevolvingcreditfacility,netoffinancingcosts   287   -   -
Paymentstorevolvingcreditfacility   (90)   -   -
Proceedsfromexerciseofstockoptions   12   3   24
Paymentofminimumwithholdingtaxesonnetsharesettlementsofequityawards   (73)   (33)   (14)
Excesstaxbenefitsfromstock-basedcompensation   36   20   12
Otherfinancingactivities,net   12   (1)   (2)
Net cash used in financing activities   (153)   (41)   (170)
Effectofexchangeratechangesoncashandcashequivalents   (10)   (8)   1
Net increase (decrease) in cash and cash equivalents   159   104   (16)
Cashandcashequivalentsatbeginningofperiod   455   351   367
Cash and cash equivalents at end of period  $ 614  $ 455  $ 351
Supplemental disclosure of cash flow information            
Cashpaidduringtheperiodforincometaxes,netofrefunds  $ 43  $ 54  $ 50
Cashpaidduringtheperiodforinterest  $ 7  $ 7  $ 8
Supplemental disclosure of non-cash investing and financing activities:            
Capitalizationofconstructionin-processrelatedtobuildtosuitlease  $ 6  $ 52  $ 8
Capitalexpendituresincurredbutnotyetpaidprimarilyrelatedtobuildtosuitlease  $ -  $ 10  $ -
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Theaccompanyingnotesareanintegralpartoftheseconsolidatedfinancialstatements.
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