Expedia 2009 Annual Report Download - page 44

Download and view the complete annual report

Please find page 44 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

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 Part II, Item 7,
Management’s Discussion and Analysis of Financial Condition and Results of Operations.
SELECTED FINANCIAL DATA
Year Ended December 31,
2009 2008(1)(2) 2007 2006 2005
(in thousands, except per share data)
Consolidated Statements of Operations Data:
Revenue ................................ $2,955,426 $ 2,937,013 $2,665,332 $2,237,586 $2,119,455
Operating income (loss) .................... 571,414 (2,428,953) 529,069 351,329 397,052
Net income (loss) attributable to Expedia,
Inc. .................................. 299,526 (2,517,763) 295,864 244,934 228,730
Net income (loss) per share attributable to
Expedia, Inc. available to common
stockholders:
Basic ................................. $ 1.04 $ (8.80) $ 1.00 $ 0.72 $ 0.68
Diluted ............................... 1.03 (8.80) 0.94 0.70 0.65
Shares used in computing income (loss) per
share:
Basic ................................. 288,214 286,167 296,640 338,047 336,819
Diluted ............................... 292,141 286,167 314,233 352,181 349,530
December 31,
2009 2008 2007 2006 2005
Consolidated Balance Sheet Data:
Working deficit .......................... $ (610,008) $ (367,454) $ (728,697) $ (224,770) $ (847,981)
Total assets .............................. 5,937,156 5,894,249 8,295,422 8,264,317 7,756,892
Long-term debt ........................... 895,086 1,544,548 1,085,000 500,000 —
Noncontrolling interest(3) .................. 67,045 63,910 70,004 65,260 54,962
Total stockholders’ equity(3) ................ 2,749,726 2,380,964 4,880,016 5,966,046 5,788,725
(1) The year ended December 31, 2008 includes an approximately $3 billion impairment charge related to
goodwill, intangible and other long-lived assets.
(2) As we recorded a net loss for 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 2008 are equal.
(3) Prior period amounts have been restated to conform to new authoritative guidance issued by the Financial
Accounting Standards Board on noncontrolling interests.
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
38