Expedia 2014 Annual Report Download - page 48

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Declaration and payment of future dividends, if any, is at the discretion of the Board of Directors and will
depend on, among other things, our results of operations, cash requirements and surplus, financial condition,
share dilution management, legal risks, tax policies, capital requirements relating to research and development,
investments and acquisitions, challenges to our business model and other factors that the Board of Directors may
deem relevant. In addition, our credit agreement limits our ability to pay cash dividends under certain
circumstances.
Unregistered Sales of Equity Securities
During the quarter ended December 31, 2014, we did not issue or sell any shares of our common stock or
other equity securities pursuant to unregistered transactions in reliance upon an exemption from the registration
requirements of the Securities Act of 1933, as amended.
Issuer Purchases of Equity Securities
A summary of the repurchase activity for the fourth quarter of 2014 is as follows:
Period
Total Number of
Shares Purchased
Average Price
Paid Per Share
Total Number
of Shares
Purchased as
Part of
Publicly
Announced
Plans or
Programs
Maximum
Number of
Shares that
May Yet Be
Purchased
Under Plans or
Programs
(In thousands, expect per share data)
October 1-31, 2014 266 $86.36 266 2,279
November 1-30, 2014 — — — 2,279
December 1-31, 2014 513 88.47 513 1,766
Total 779 $87.75 779
In 2012, the Executive Committee, acting on behalf of the Board of Directors, authorized a repurchase of up
to 20 million outstanding shares of our common stock. As of December 31, 2014, 1.8 million shares remain
authorized for repurchase under the April 2012 authorization. There is no fixed termination date for the
repurchases.
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