TripAdvisor 2015 Annual Report Download - page 86

Download and view the complete annual report

Please find page 86 of the 2015 TripAdvisor annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 115

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115

Thefollowingtablepresentsthecomponentsofourintangibleassetswithdefinitelivesfortheperiodspresented:
  December 31, 2015 December 31, 2014
 
Weighted
Average Gross Net Gross Net
Remaining Life Carrying Accumulated Carrying Carrying Accumulated Carrying
(in years) Amount Amortization Amount Amount Amortization Amount
(in millions) (in millions)
Tradenamesandtrademarks   8.5  $ 53  $ (9)  $ 44  $ 52  $ (5)  $ 47
Customerlistsandsupplierrelationships   5.4   82   (20)   62   77   (5)   72
Subscriberrelationships   4.8   29   (9)   20   31   (4)   27
Technologyandother   3.3   34   (14)   20   42   (4)  38
Total   6.0  $ 198  $ (52)  $ 146  $ 202  $ (18)  $ 184
Referto“Note3—Acquisitions and Dispositions ”aboveforadiscussionofdefinitelivedintangibleassetsacquiredinbusinesscombinationsduringthe
yearsendedDecember31,2015and2014.
Intangibleassetswithdefinitelivesareamortizedonastraight-linebasis.Theestimatedamortizationexpenseforintangibleassetswithdefinitelivesfor
eachofthenextfiveyears,andtheexpensethereafter,assumingnosubsequentimpairmentoftheunderlyingassets,isexpectedtobeasfollows(inmillions):
2016  $ 29
2017   28
2018   25
2019   22
2020   17
2021andthereafter   25
Total  $ 146
NOTE 8: DEBT
TheCompany’soutstandingdebtconsistedofthefollowingfortheperiodspresented:
December 31, December 31,
2015 2014
(in millions)
Short-TermDebt:    
ChineseCreditFacilities  $ 1  $ 38
TermLoan   - 40
TotalShort-TermDebt  $ 1 $ 78
   
Long-TermDebt:    
2015CreditFacility  $ 200  $ -
TermLoan   - 260
Less:Unamortizeddiscountanddebtissuancecosts   - (1)
TotalLong-TermDebt $ 200 $ 259
2011 Credit Facility
OnDecember20,2011,weenteredintoacreditagreement(the“2011CreditFacility”),whichprovided$600millionofborrowingincluding:
—atermloanfacilityinanaggregateprincipalamountof$400millionwithatermoffiveyearsdueDecember2016
(“TermLoan”);and
—arevolvingcreditfacilityinanaggregateprincipalamountof$200millionavailableinU.S.dollars,EurosandBritish
poundsterlingwithatermoffiveyearsexpiringDecember2016.
83