Expedia 2015 Annual Report Download - page 88

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Consolidated Financial Statements
EXPEDIA, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
Year ended December 31,
2015 2014 2013
(In thousands, except for per share data)
Revenue $6,672,317 $5,763,485 $4,771,259
Costs and expenses:
Cost of revenue (1) 1,309,559 1,179,081 1,038,034
Selling and marketing (1) 3,381,086 2,808,329 2,196,145
Technology and content (1) 830,244 686,154 577,820
General and administrative (1) 573,913 425,373 377,078
Amortization of intangible assets 163,665 79,615 71,731
Legal reserves, occupancy tax and other (104,587) 41,539 77,919
Restructuring and related reorganization charges (1) 104,871 25,630 —
Acquisition-related and other (1) — — 66,472
Operating income 413,566 517,764 366,060
Other income (expense):
Interest income 16,695 27,288 24,779
Interest expense (126,195) (98,089) (87,358)
Gain on sale of business 508,810 — —
Other, net 113,086 17,678 (2,788)
Total other income (expense), net 512,396 (53,123) (65,367)
Income before income taxes 925,962 464,641 300,693
Provision for income taxes (203,214) (91,691) (84,335)
Net income 722,748 372,950 216,358
Net loss attributable to noncontrolling interests 41,717 25,147 16,492
Net income attributable to Expedia, Inc. $ 764,465 $ 398,097 $ 232,850
Earnings per share attributable to Expedia, Inc. available to
common stockholders:
Basic $ 5.87 $ 3.09 $ 1.73
Diluted 5.70 2.99 1.67
Shares used in computing earnings per share:
Basic 130,159 128,912 134,912
Diluted 134,018 133,168 139,593
Dividends declared per common share $ 0.84 $ 0.66 $ 0.56
(1) Includes stock-based compensation as follows:
Cost of revenue $ 5,307 $ 3,921 $ 3,752
Selling and marketing 33,164 18,067 16,190
Technology and content 26,766 22,100 20,465
General and administrative 80,082 40,923 33,123
Restructuring and related reorganization charges 32,749 — —
Acquisition-related and other — — 56,643
See notes to consolidated financial statements.
F-3