Expedia 2011 Annual Report Download - page 118

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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 $ — $2,679,420 $ 366,408 $ (12,183) $3,033,645
Costs and expenses:
Cost of revenue — 590,236 96,372 (1,121) 685,487
Selling and marketing — 917,344 328,683 (11,246) 1,234,781
Technology and content — 255,306 53,416 58 308,780
General and administrative — 181,920 76,558 126 258,604
Amortization of intangible assets — 5,071 17,443 — 22,514
Legal reserves, occupancy tax and other — 22,692 — — 22,692
Intercompany (income) expense, net — 347,361 (347,361) — —
Operating income — 359,490 141,297 — 500,787
Other income (expense):
Equity in pre-tax earnings of
consolidated subsidiaries 341,750 120,085 — (461,835) —
Other, net (56,193) (18,358) (397) — (74,948)
Total other income (expense), net 285,557 101,727 (397) (461,835) (74,948)
Income before income taxes 285,557 461,217 140,900 (461,835) 425,839
Provision for income taxes 15,880 (115,126) (21,096) — (120,342)
Income from continuing operations 301,437 346,091 119,804 (461,835) 305,497
Discontinued operations, net of taxes 120,063 142,150 78,470 (220,620) 120,063
Net income 421,500 488,241 198,274 (682,455) 425,560
Net income attribuatable to noncontrolling
interests — — (4,060) — (4,060)
Net income attributable to Expedia, Inc. $421,500 $ 488,241 $ 194,214 $(682,455) $ 421,500
F-43