Expedia 2009 Annual Report Download - page 112

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Expedia, Inc.
Notes to Consolidated Financial Statements — (Continued)
NOTE 18 — Quarterly Financial Information (Unaudited)
Three Months Ended
March 31 June 30 September 30 December 31
(In thousands, except per share data)
Year ended December 31, 2009
Revenue .............................. $635,712 $769,768 $852,428 $ 697,518
Operating income ...................... 92,947 114,642 222,974 140,851
Net income attributable to Expedia, Inc. ..... 39,384 40,902 117,014 102,226
Basic earnings per share(1) ............... $ 0.14 $ 0.14 $ 0.41 $ 0.35
Diluted earnings per share(1) ............. 0.14 0.14 0.40 0.35
Year ended December 31, 2008
Revenue .............................. $687,817 $795,048 $833,337 $ 620,811
Operating income (loss)(2) ............... 89,998 170,541 199,586 (2,889,078)
Net income (loss) attributable to Expedia,
Inc.(2) ............................. 51,306 96,089 94,824 (2,759,982)
Basic earnings per share(1) ............... $ 0.18 $ 0.34 $ 0.33 $ (9.62)
Diluted earnings per share(1) ............. 0.17 0.33 0.33 (9.62)
(1) Earnings per share is computed independently for each of the quarters presented. Therefore, the sum of the
quarterly earnings per share may not equal the total computed for the year. As we recorded a net loss for the
fourth quarter of 2008, we have revised our diluted earnings per share amounts for that period to exclude the
impacts of common stock equivalents, as they are antidilutive. Thus, basic and diluted earnings per share for
the fourth quarter of 2008 are equal.
(2) Included as part of operating loss and net loss attributable to Expedia, Inc. for the fourth quarter of 2008 is
an approximately $3 billion impairment charge related to goodwill, intangible and other long-lived assets. In
addition, the fourth quarter of 2008 was impacted by a $7 million adjustment related to intangible
amortization which should have been included in prior quarterly periods of 2008.
F-40