Expedia 2009 Annual Report Download - page 43

Download and view the complete annual report

Please find page 43 of the 2009 Expedia annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 128

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

Declaration and payment of future dividends, if any, is at the discretion of the Board of Directors and will depend
on, among other things, our results of operations, cash requirements and surplus, financial condition, share
dilution management, legal risks, tax policies, capital requirements relating to research and development,
investments and acquisitions, challenges to our business model and other factors that the Board of Directors may
deem relevant. In addition, our credit agreement and high yield indenture limit our ability to pay cash dividends
under certain circumstances.
Unregistered Sales of Equity Securities
During the quarter ended December 31, 2009, we did not issue or sell any shares of our common stock or
other equity securities pursuant to unregistered transactions in reliance upon an exemption from the registration
requirements of the Securities Act of 1933, as amended.
Issuer Purchases of Equity Securities
We did not make any purchases of our outstanding common stock during the quarter ended December 31,
2009.
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 11, 2010,
we had not made any share repurchases under this specific authorization. The amount of repurchases we may
make under this authorization are subject to certain of our debt covenants.
Performance Comparison Graph
The graph below compares the 53-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
$20
$40
$60
$80
$100
$120
$140
$160
Expedia, Inc. NASDAQ Composite S&P 500 RDG Internet Composite
8/05 9/05 12/05 3/06 6/06 9/06 12/06 3/07 6/07 9/07 12/07 3/08 6/08 9/08 12/08 3/09 6/09 9/09 12/09
37