Expedia 2007 Annual Report Download - page 37

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Issuer Purchases of Equity Securities
We did not make any purchases of our outstanding common stock during the three months ended
December 31, 2007. Between January 1, 2007 and September 30, 2007, we repurchased 55 million shares of
our common stock tendered through two separate tender offers for a total cost of $1.385 billion, representing
an average price of $25.18 per share excluding transaction costs.
During 2006 our Board of Directors authorized the repurchase of up to 20 million outstanding shares of
our common stock. There is no fixed termination date for this authorization to repurchase. As of February 15,
2008, we had not made any share repurchases under this authorization.
Performance Comparison Graph
The graph below compares the 29-month cumulative total return, assuming the reinvestment of dividends,
on Expedia common stock with that of the NASDAQ Composite Index, the RDG (Research Data Group)
Internet Composite Index and the S&P 500 Index. This graph assumes $100 was invested on August 9, 2005
in Expedia common stock, and on July 31, 2005 in each of the NASDAQ Composite Index companies, the
RDG Internet Composite Index companies and the companies in the S&P 500 Index. The stock price
performance shown in the graph is not necessarily indicative of future price performance.
0
50
100
150
12/079/076/073/0712/069/066/063/0612/059/058/05
DOLLARS
Expedia, Inc.
NASDAQ Composite
S&P 500
RDG Internet Composite
Part II. Item 6. Selected Financial Data
We have derived the following selected financial data presented below from the consolidated financial
statements and related notes. The information set forth below is not necessarily indicative of future results and
should be read in conjunction with the consolidated financial statements and related notes and Item 7,
Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Our financial statements present our results of operations, financial position, stockholders’ equity and
cash flows on a combined basis up through the Spin-Off on August 9, 2005, and on a consolidated basis
thereafter.
Beginning January 1, 2004, as part of the integration of our businesses, Hotels.com conformed its
merchant hotel business practices to those of our other businesses. As a result, we prospectively commenced
reporting revenue for Hotels.com on a net basis. In our selected financial data below, the revenue amounts
prior to January 1, 2004 report Hotels.com merchant hotel business revenue on a gross basis. The change in
reporting did not affect operating income or net income.
31