Expedia 2011 Annual Report Download - page 14

Financial Information about Segments and Geographic Areas
We generate our revenue through a diverse customer base, and there is no reliance on a single customer or
small group of customers; no customer represented 10% or more of our total revenue in the periods presented in
this Annual Report on Form 10-K.
We have two reportable segments: Leisure and Egencia. The segment and geographic information required
herein is contained in Note 18 — Segment Information, in the notes to our consolidated financial statements
Additional Information
Company Website and Public Filings. We maintain a corporate website at www.expediainc.com. Except as
explicitly noted, the information on our website, as well as the websites of our various brands and businesses, is
not incorporated by reference in this Annual Report on Form 10-K, or in any other filings with, or in any
information furnished or submitted to, the SEC.
We make available, free of charge through our website, our Annual Reports on Form 10-K, Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K, and amendments to those reports, filed or furnished
pursuant to Sections 13(a) or Section 15(d) of the Securities Exchange Act of 1934, as amended, as soon as
reasonably practicable after they have been electronically filed with, or furnished to, the SEC.
Code of Ethics. We post our code of business conduct and ethics, which applies to all employees, including
all executive officers, senior financial officers and directors, on our corporate website at www.expediainc.com.
Our code of business conduct and ethics complies with Item 406 of SEC Regulation S-K and the rules of
NASDAQ. We intend to disclose any changes to the code that affect the provisions required by Item 406 of
Regulation S-K, and any waivers of the code of ethics for our executive officers, senior financial officers or
directors, on our corporate website.
Employees
As of December 31, 2011, we employed approximately 9,480 full-time and part-time employees, including
approximately 2,180 employees of eLong. We believe we have good relationships with our employees, including
relationships with employees represented by works councils or other similar organizations.
Part I. Item 1A. Risk Factors
You should carefully consider each of the following risks and uncertainties associated with our company
and the ownership of our securities. Additional risks and uncertainties not presently known to us or that we
currently deem immaterial may also impair our business and/or financial performance.
We operate in an increasingly competitive global environment.
The market for the services we offer is increasingly and intensely competitive. We compete with both
established and emerging online and traditional sellers of travel-related services, including online travel agencies,
travel suppliers, large online portal and search companies, traditional travel agencies, metasearch companies,
travel content sites including traveler review sites, operators of travel industry reservation databases and private
shopping websites. Some of our competitors, including travel suppliers such as airlines and hotels, may offer
products and services on more favorable terms, including lower prices, no fees or unique access to proprietary
loyalty programs, such as points and miles. Many of these competitors, such as airlines, hotel and rental car
companies, have been steadily focusing on increasing online demand on their own websites in lieu of third-party
distributors such as the various Expedia sites. For instance, some low cost airlines, which are having increasing
success in the marketplace, distribute their online supply exclusively through their own websites and several
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