Expedia 2010 Annual Report Download - page 110

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CONDENSED CONSOLIDATING STATEMENT OF OPERATION
Year Ended December 31, 2010
Parent
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Consolidated
(In thousands)
Revenue ................................ $ — $2,970,193 $ 442,389 $ (64,473) $3,348,109
Costs and expenses:
Cost of revenue ........................ — 595,581 98,372 (1,121) 692,832
Selling and marketing ................... — 875,534 392,143 (63,536) 1,204,141
Technology and content ................. — 287,037 75,352 58 362,447
General and administrative ............... — 224,457 89,526 126 314,109
Amortization of intangible assets .......... — 10,351 26,772 — 37,123
Occupancy tax assessments and legal
reserves ............................ — 5,542 — — 5,542
Restructuring charges ................... — — — — —
Intercompany (income) expense, net ....... — 492,455 (492,455) — —
Operating income ........................ — 479,236 252,679 — 731,915
Other income (expense):
Equity in pre-tax earnings of consolidated
subsidiaries ......................... 483,919 198,554 — (682,473) —
Other, net ............................. (91,022) (19,677) (648) — (111,347)
Total other income (expense), net ............ 392,897 178,877 (648) (682,473) (111,347)
Income before income taxes ................ 392,897 658,113 252,031 (682,473) 620,568
Provision for income taxes ................. 28,603 (169,868) (53,743) — (195,008)
Net income ............................. 421,500 488,245 198,288 (682,473) 425,560
Net income attributable to noncontrolling
interests .............................. — — (4,060) — (4,060)
Net income attributable to Expedia, Inc. .... $421,500 $ 488,245 $ 194,228 $(682,473) $ 421,500
F-39