Expedia 2011 Annual Report Download - page 116

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NOTE 20 — Quarterly Financial Information (Unaudited)
Three Months Ended
December 31 September 30 June 30 March 31
(In thousands, except per share data)
Year ended December 31, 2011
Revenue $787,133 $1,020,450 $913,591 $727,835
Operating income 91,645 209,099 143,707 35,158
Net income from continuing operations 60,465 171,840 88,133 5,903
Discontinued operations, net of taxes 10,633 38,566 52,757 46,306
Net income attributable to Expedia, Inc. 70,328 209,534 140,393 52,039
Earnings per share from continuing operations
attributable to Expedia, Inc. available to common
stockholders:
Basic earnings per share (1) $ 0.45 $ 1.26 $ 0.64 $ 0.04
Diluted earnings per share(1) 0.44 1.22 0.63 0.04
Earnings per share attributable to Expedia, Inc. available
to common stockholders:
Basic earnings per share (1) $ 0.53 $ 1.54 $ 1.03 $ 0.38
Diluted earnings per share (1) 0.51 1.50 1.01 0.37
Year ended December 31, 2010
Revenue $737,591 $ 898,099 $751,537 $646,418
Operating income 112,935 209,154 126,536 52,162
Net income from continuing operations 63,585 136,670 78,331 26,911
Discontinued operations, net of taxes 7,999 41,354 37,022 33,688
Net income attributable to Expedia, Inc. 71,293 176,550 114,262 59,395
Earnings per share from continuing operations
attributable to Expedia, Inc. available to common
stockholders:
Basic earnings per share (1) $ 0.46 $ 0.96 $ 0.54 $ 0.18
Diluted earnings per share (1) 0.45 0.94 0.53 0.17
Earnings per share attributable to Expedia, Inc. available
to common stockholders:
Basic earnings per share (1) $ 0.52 $ 1.26 $ 0.80 $ 0.41
Diluted earnings per share (1) 0.50 1.23 0.79 0.40
(1) The per share information attributable to Expedia, Inc. common shareholders reflects the one-for-two
reverse stock split in connection with the spin-off. In addition, earnings per share is computed independently
for each of the quarters presented. Therefore, the sum of the quarterly earnings per share may not equal the
total computed for the year.
NOTE 21 — Guarantor and Non-Guarantor Supplemental Financial Information
Condensed consolidating financial information of Expedia, Inc. (the “Parent”), our subsidiaries that are
guarantors of our debt facility and instruments (the “Guarantor Subsidiaries”), and our subsidiaries that are not
guarantors of our debt facility and instruments (the “Non-Guarantor Subsidiaries”) is shown below. The debt
facility and instruments are guaranteed by certain of our wholly-owned domestic subsidiaries and rank equally in
right of payment with all of our existing and future unsecured and unsubordinated obligations. The guarantees are
full, unconditional, joint and several with the exception of certain customary automatic subsidiary release
provisions. In this financial information, the Parent and Guarantor Subsidiaries account for investments in their
wholly-owned subsidiaries using the equity method.
F-41