Expedia 2008 Annual Report Download - page 43

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SELECTED FINANCIAL DATA
2008(1) 2007 2006 2005 2004
Year Ended December 31,
(In thousands, except per share data)
Consolidated Statements of
Operations Data:
Revenue ...................... $2,937,013 $2,665,332 $2,237,586 $2,119,455 $1,843,013
Operating income (loss) ........... (2,428,953) 529,069 351,329 397,052 240,473
Net income (loss) ............... (2,517,763) 295,864 244,934 228,730 163,473
Net income (loss) per share
available to common
stockholders:
Basic ....................... $ (8.80) $ 1.00 $ 0.72 $ 0.68 $ 0.49
Diluted ..................... (8.63) 0.94 0.70 0.65 0.48
Shares used in computing income
(loss) per share:
Basic ....................... 286,167 296,640 338,047 336,819 335,540
Diluted ..................... 291,830 314,233 352,181 349,530 340,549
2008 2007 2006 2005 2004
December 31,
Consolidated Balance Sheet Data:
Working capital (deficit) ........... $ (367,454) $ (728,697) $ (224,770) $ (847,981) $1,263,678
Total assets ..................... 5,894,249 8,295,422 8,264,317 7,756,892 9,537,187
Minority interest ................. 52,937 61,935 61,756 71,774 18,435
Long-term debt .................. 1,544,548 1,085,000 500,000 — —
Total stockholders’ equity .......... 2,328,394 4,818,081 5,904,290 5,733,763 N/A
Total invested equity . ............. N/A N/A N/A N/A 8,152,629
(1) The year ended December 31, 2008 includes an approximately $3 billion impairment charge related to
goodwill, intangible and other long-lived assets.
Part II. Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Overview
Expedia, Inc. is an online travel company, empowering business and leisure travelers with the tools and
information they need to efficiently research, plan, book and experience travel. We have created a global travel
marketplace used by a broad range of leisure and corporate travelers, offline retail travel agents and travel
service providers. We make available, on a stand-alone and package basis, travel products and services
provided by numerous airlines, lodging properties, car rental companies, destination service providers, cruise
lines and other travel product and service companies. We also offer travel and non-travel advertisers access to
a potential source of incremental traffic and transactions through our various media and advertising offerings
on both the TripAdvisor Media Network and on our transaction-based websites. For additional information
about our portfolio of brands, see the disclosure set forth in Part I, Item 1, Business, under the caption
“Management Overview.”
Trends
The travel industry, including offline agencies, online agencies and suppliers of travel products and
services, has been characterized by intense competition, as well as rapid and significant change. In addition,
beginning in September 2008, global economic and financial market conditions worsened markedly, creating
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