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EXPEDIA, INC.
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY AND COMPREHENSIVE INCOME (LOSS)
Shares Amount Shares Amount
Additional
Paid-in
Capital Shares Amount
Retained
Earnings
(Deficit)
Accumulated
Other
Comprehensive
Income (Loss) Total
Common Stock
Class B
Common Stock Treasury Stock
(In thousands, except share data)
Balance as of December 31, 2005 ..................................... 323,184,577 $323 25,599,998 $26 $5,695,498 1,205,091 $ (25,464) $ 64,978 $ (1,598) $ 5,733,763
Comprehensive income:
Net income . . . .............................................. 244,934 244,934
Net loss on derivative contracts ..................................... (1,119) (1,119)
Currency translation adjustment .................................... 14,696 14,696
Total comprehensive income . . . ..................................... 258,511
Settlement of derivative liability . ..................................... 80,832 80,832
Proceeds from exercise of equity instruments . . . ........................... 4,881,699 5 34,283 34,288
Spin-Off related tax adjustments ..................................... 19,139 19,139
Tax deficiencies on equity awards..................................... (10,296) (10,296)
Capital contribution from sale of business ................................ 2,524 2,524
Treasury stock activity related to vesting of equity instruments . .................. 960,137 (7,292) (7,292)
Common stock repurchases . . . ..................................... 20,000,000 (288,399) (288,399)
Modification of cash-based equity awards ................................ 2,930 2,930
Stock-based compensation expense .................................... 78,290 78,290
Balance as of December 31, 2006 ..................................... 328,066,276 328 25,599,998 26 5,903,200 22,165,228 (321,155) 309,912 11,979 5,904,290
Comprehensive income:
Net income . . . .............................................. 295,864 295,864
Net gain on derivative contracts .................................... 3,018 3,018
Currency translation adjustment .................................... 16,768 16,768
Total comprehensive income . . . ..................................... 315,650
Cumulative effect of adoption of FIN 48. ................................ (3,572) (3,572)
Settlement of derivative liability . ..................................... 6,579 6,579
Proceeds from exercise of equity instruments . . . ........................... 8,990,484 9 54,843 54,852
Withholding taxes for stock option exercises . . . ........................... (121,208) (121,208)
Tax deficiencies on equity awards..................................... (459) (459)
Treasury stock activity related to vesting of equity instruments . .................. 402,427 (9,389) (9,389)
Common stock repurchases . . . ..................................... 55,000,003 (1,388,289) (1,388,289)
Stock-based compensation expense .................................... 60,333 60,333
Other . . . ................................................... (706) (706)
Balance as of December 31, 2007 ..................................... 337,056,760 337 25,599,998 26 5,902,582 77,567,658 (1,718,833) 602,204 31,765 4,818,081
Comprehensive loss:
Net loss ................................................... (2,517,763) (2,517,763)
Net loss on derivative contracts ..................................... (339) (339)
Currency translation adjustment .................................... (36,088) (36,088)
Total comprehensive loss .......................................... (2,554,190)
Settlement of derivative liability . ..................................... 10,500 10,500
Capital contribution from sale of business ................................ 1,624 1,624
Proceeds from exercise of equity instruments . . . ........................... 2,468,708 3 6,330 6,333
Tax deficiencies on equity awards..................................... (1,646) (1,646)
Treasury stock activity related to vesting of equity instruments . .................. 583,515 (12,402) (12,402)
Stock-based compensation expense .................................... 60,094 60,094
Balance as of December 31, 2008 ..................................... 339,525,468 $340 25,599,998 $26 $5,979,484 78,151,173 $(1,731,235) $(1,915,559) $ (4,662) $ 2,328,394
We had 751 shares of preferred stock outstanding as of December 31, 2008 and 2007.
See notes to consolidated financial statements.
F-5