Expedia 2010 Annual Report Download - page 111

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CONDENSED CONSOLIDATING STATEMENT OF OPERATION
Year Ended December 31, 2009
Parent
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Consolidated
(In thousands)
Revenue ............................... $ — $2,563,961 $ 458,919 $ (67,454) $2,955,426
Costs and expenses:
Cost of revenue ....................... — 498,614 112,894 (4,257) 607,251
Selling and marketing .................. — 703,490 386,568 (62,996) 1,027,062
Technology and content ................ — 253,386 66,340 (18) 319,708
General and administrative .............. — 205,520 85,147 (183) 290,484
Amortization of intangible assets ......... — 10,599 27,082 — 37,681
Occupancy tax assessments and legal
reserves ........................... — 67,658 — — 67,658
Restructuring charges .................. — 8,761 25,407 — 34,168
Intercompany (income) expense, net ...... 300,371 (300,371) — —
Operating income ....................... — 515,562 55,852 — 571,414
Other income (expense):
Equity in pre-tax earnings of consolidated
subsidiaries ........................ 347,786 21,715 — (369,501) —
Other, net ............................ (72,780) (39,210) (1,401) — (113,391)
Total other income (expense), net ........... 275,006 (17,495) (1,401) (369,501) (113,391)
Income before income taxes ............... 275,006 498,067 54,451 (369,501) 458,023
Provision for income taxes ................ 24,520 (147,124) (31,796) — (154,400)
Net income ............................ 299,526 350,943 22,655 (369,501) 303,623
Net income attributable to noncontrolling
interests ............................. — — (4,097) — (4,097)
Net income attributable to Expedia, Inc. .... $299,526 $ 350,943 $ 18,558 $(369,501) $ 299,526
F-40