TripAdvisor 2015 Annual Report Download - page 91

Download and view the complete annual report

Please find page 91 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

Areconciliationofthebeginningandendingamountofgrossunrecognizedtaxbenefits(excludinginterestandpenalties)isasfollows:
December 31,
2015 2014 2013
(in millions)
Balance,beginningofyear $ 67$ 36$ 24
Increasestotaxpositionsrelatedtothecurrentyear 15 13 12
Increasestotaxpositionsrelatedtotheprioryear 7 18 4
Reductionsduetolapsedstatuteoflimitations - - -
Decreasestotaxpositionsrelatedtotheprioryear - -(4)
Settlementsduringcurrentyear - - -
Balance,endofyear $ 89$ 67$ 36
AsofDecember31,2015,wehad$89millionofunrecognizedtaxbenefits,netofinterest,whichisclassifiedaslong-termandincludedinotherlong-term
liabilitiesonourconsolidatedbalancesheet.Theamountofunrecognizedtaxbenefits,ifrecognized,wouldreduceincometaxexpenseby$53million,dueto
correlativeadjustmentsinothertaxjurisdictions.Werecognizeinterestandpenaltiesrelatedtounrecognizedtaxbenefitsinincometaxexpenseonour
consolidatedstatementofoperations.AsofDecember31,2015and2014,totalgrossinterestaccruedwas$6millionand$4million,respectively.Wedonot
anticipateanymaterialchangesinthenextyear.
NOTE 10: ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Accruedexpensesandothercurrentliabilitiesconsistedofthefollowingfortheperiodspresented:
December 31,
2015
December 31,
2014
(in millions)
Accruedsalary,bonus,andrelatedbenefits $ 47  $ 41
Accruedmarketingcosts 43  24
Accruedcharitablefoundationpayments(1) -  8
Other 33  41
Total $ 123  $ 114
(1) See“Note12—Commitments and Contingencies ”forinformationregardingcostsassociatedwiththeFoundation.
NOTE 11: OTHER LONG-TERM LIABILITIES
Otherlong-termliabilitiesconsistedofthefollowingfortheperiodspresented:
December 31,
2015
December 31,
2014
(in millions)
Unrecognizedtaxbenefits(1) $ 87  $ 68
Financingobligation,netofcurrentportion(2) 84  67
Other(3) 18  19
Total $ 189  $ 154
(1) See“Note9—Income Taxes ”foradditionalinformationonourunrecognizedtaxbenefits.Amountincludesaccruedinterestrelatedtothisliability.
(2) Referto“Note12–Commitments and Contingencies ,”foradditionalinformationonourcorporateheadquarterslease.
(3) Amountsprimarilyconsistoflongtermdeferredrentbalancesrelatedtooperatingleasesforofficespace.
NOTE 12: COMMITMENTS AND CONTINGENCIES
Wehavematerialcommitmentsandobligationsthatincludeofficespaceleasesandexpectedinterestonlong-termdebt,whicharenotaccruedonthe
consolidatedbalancesheetatDecember31,2015butweexpecttorequirefuturecashoutflows.
88