Expedia 2014 Annual Report Download - page 128

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NOTE 21 — 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, 2014
Revenue $1,355,978 $1,712,504 $1,494,632 $1,200,371
Operating income (loss)(1) 94,706 296,836 129,220 (2,998)
Net income (loss) attributable to Expedia, Inc. 65,969 257,059 89,373 (14,304)
Basic earnings (loss) per share(2) $ 0.52 $ 2.01 $ 0.69 $ (0.11)
Diluted earnings (loss) per share(2) 0.50 1.94 0.67 (0.11)
Year ended December 31, 2013
Revenue $1,152,015 $1,401,860 $1,205,017 $1,012,367
Operating income (loss) 138,711 238,691 94,286 (105,628)
Net income (loss) attributable to Expedia, Inc. 94,717 170,859 71,500 (104,226)
Basic earnings (loss) per share(2) $ 0.72 $ 1.25 $ 0.52 $ (0.77)
Diluted earnings (loss) per share(2) 0.70 1.22 0.51 (0.77)
(1) During the fourth quarter of 2014, we recognized $26 million related to restructuring and related
reorganization charges.
(2) 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 22 — 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.
We revised the condensed consolidating statement of cash flows for the year ended December 31, 2013 to
reclassify certain transfers from related parties more appropriately classified as financing activities from
operating activities between the Guarantor and Non-Guarantor Subsidiaries. There was no impact to the
consolidated statement of cash flows, or to total cash flows of the Guarantors and Non-Guarantor subsidiaries, as
a result of these changes.
F-46