Expedia 2012 Annual Report Download - page 117
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As of December 31, 2012 and 2011, our ownership interest in eLong was approximately 67%.
NOTE 13 — Earnings Per Share
Basic Earnings Per Share
Basic earnings per share was calculated for the years ended December 31, 2012, 2011 and 2010 using the
weighted average number of common and Class B common shares outstanding during the period excluding
restricted stock and stock held in escrow. As of December 31, 2010, we had 751 shares of preferred stock
outstanding, the impact of which on our earnings per share calculation was immaterial.
Diluted Earnings Per Share
For the years ended December 31, 2012, 2011 and 2010, we computed diluted earnings per share using
(i) the number of shares of common stock and Class B common stock used in the basic earnings per share
calculation as indicated above (ii) if dilutive, the incremental common stock that we would issue upon the
assumed exercise of stock options and stock warrants and the vesting of RSUs using the treasury stock method,
and (iii) other stock-based commitments.
All 2011 share information has been adjusted to reflect Expedia’s one-for-two reverse stock split in
December 2011. The following table presents our basic and diluted earnings per share:
Year Ended December 31,
2012 2011 2010
(In thousands, except per share data)
Income from continuing operations attributable to
Expedia, Inc. $302,710 $324,146 $301,615
Earnings per share from continuing operations
attributable to Expedia, Inc. available to
common stockholders:
Basic $ 2.26 $ 2.39 $ 2.14
Diluted 2.16 2.34 2.09
Weighted average number of shares outstanding:
Basic 134,203 135,888 141,233
Dilutive effect of:
Options to purchase common stock 4,383 1,766 2,046
Warrants to purchase common stock 800 605 147
Other dilutive securities 543 443 588
Diluted 139,929 138,702 144,014
The earnings per share amounts are the same for common stock and Class B common stock because the
holders of each class are legally entitled to equal per share distributions whether through dividends or in
liquidation.
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