TripAdvisor 2015 Annual Report Download - page 98

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Year ended December 31, 2014
Hotel Other Corporate and
unallocated Total
(in millions)
Revenue $ 1,135  $ 111  $ —$ 1,246
AdjustedEBITDA(1)(3) 472   (4)   —   468
Depreciation — — (47)  (47)
Amortizationofintangibleassets —  —  (18)  (18)
Stock-basedcompensation —  —  (63)  (63)
Operatingincome(loss) $ 472  $ (4)  $ (128)  340
Otherexpense,net      (18)
Incomebeforeincometaxes      322
Provisionforincometaxes      (96)
Netincome     $ 226
Year ended December 31, 2013
Hotel Other Corporate and
unallocated Total
(in millions)
Revenue $ 899  $ 46  $ —$ 945
AdjustedEBITDA(1)(3) 384   (5)   —   379
Depreciation — — (30)  (30)
Amortizationofintangibleassets —  —  (6)(6)
Stock-basedcompensation —  —  (49)  (49)
Operatingincome(loss) $ 384  $ (5)  $ (85)  294
Otherexpense,net      (10)
Incomebeforeincometaxes      284
Provisionforincometaxes      (79)
Netincome     $ 205
(1) IncludesallocatedgeneralandadministrativeexpensesinourHotelsegmentof$85million,$87millionand$72million;andinourOthersegmentof
$28million,$18millionand$9millionfortheyearsendedDecember31,2015,2014and2013,respectively.
(2) RepresentsacharitableobligationwhichwassettledinCompanystockandthereforeexcludedfromAdjustedEBITDA.Referto“Note12–
Commitments and Contingencies ”foradiscussionoftheFoundation.
(3) HotelsegmentAdjustedEBITDAincludescharitablecontributionstotheFoundationwhichwerefundedincashof$8millionand$7million,forthe
yearsendedDecember31,2014and2013,respectively.Ourpledgeobligationwascalculatedat2.0%ofOIBAin2014and2013,whichwascalculated
asfollows:
Year ended December 31,
2014 2013
(in millions)
Adjusted EBITDA $ 468 $ 379
Depreciation (47)  (30)
OIBA (1) 421  349
Amortizationofintangibleassets (18)  (6)
Stock-basedcompensation (63)  (49)
Otherexpense,net (18)  (10)
Provisionforincometaxes (96)  (79)
Net income $ 226 $ 205
(1) WedefinedOIBAasnetincome(loss)plus:(1)provisionforincometaxes;(2)otherincome(expense),net;(3)stock-based
compensation;(4)amortizationofintangibleassets;and(5)non-recurringexpenses.Thisoperatingmetricwasonlyusedbyour
managementtocalculateourannualobligationtotheFoundation.
95