Expedia 2009 Annual Report Download - page 76

EXPEDIA, INC.
CONSOLIDATED BALANCE SHEETS
December 31,
2009 2008
(In thousands, except
per share data)
ASSETS
Current assets:
Cash and cash equivalents ................................................. $ 642,544 $ 665,412
Restricted cash and cash equivalents ......................................... 14,072 3,356
Short-term investments ................................................... 45,849 92,762
Accounts receivable, net of allowance of $14,562 and $12,584 .................... 307,817 267,270
Prepaid merchant bookings ................................................ 88,971 66,081
Prepaid expenses and other current assets ..................................... 125,796 103,833
Total current assets ........................................................ 1,225,049 1,198,714
Property and equipment, net ................................................. 236,820 247,954
Long-term investments and other assets ........................................ 48,262 75,593
Intangible assets, net ....................................................... 823,031 833,419
Goodwill ................................................................ 3,603,994 3,538,569
TOTAL ASSETS ......................................................... $5,937,156 $ 5,894,249
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable, merchant ............................................... $ 652,893 $ 625,059
Accounts payable, other ................................................... 160,471 150,534
Deferred merchant bookings ............................................... 679,305 523,563
Deferred revenue ........................................................ 17,204 15,774
Accrued expenses and other current liabilities ................................. 325,184 251,238
Total current liabilities ...................................................... 1,835,057 1,566,168
Long-term debt ........................................................... 895,086 894,548
Credit facility ............................................................. — 650,000
Deferred income taxes, net .................................................. 223,959 189,541
Other long-term liabilities ................................................... 233,328 213,028
Commitments and contingencies
Stockholders’ equity:
Preferred stock $.001 par value ............................................. — —
Authorized shares: 100,000
Series A shares issued and outstanding: 1 and 1
Common stock $.001 par value ............................................. 343 340
Authorized shares: 1,600,000
Shares issued: 342,812 and 339,525
Shares outstanding: 263,929 and 261,374
Class B common stock $.001 par value ....................................... 26 26
Authorized shares: 400,000
Shares issued and outstanding: 25,600 and 25,600
Additional paid-in capital ................................................. 6,034,164 5,979,484
Treasury stock — Common stock, at cost ..................................... (1,739,198) (1,731,235)
Shares: 78,883 and 78,151
Retained earnings (deficit) ................................................. (1,616,033) (1,915,559)
Accumulated other comprehensive income (loss) ............................... 3,379 (16,002)
Total Expedia, Inc. stockholders’ equity .................................... 2,682,681 2,317,054
Noncontrolling interest ................................................... 67,045 63,910
Total stockholders’ equity ................................................... 2,749,726 2,380,964
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY ..................... $5,937,156 $ 5,894,249
See notes to consolidated financial statements.
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