Orbitz 2013 Annual Report Download - page 33

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33
Item 6. Selected Financial Data
The selected financial data presented in the table below is derived from our audited consolidated financial statements.
This data is not necessarily indicative of future results and should be read in conjunction with Item 7, “Management's
Discussion and Analysis of Financial Condition and Results of Operations,” and our consolidated financial statements and
notes thereto included in Item 8, “Financial Statements and Supplementary Data,” of this Annual Report on Form 10-K.
Years Ended December 31,
2013 2012 2011 2010 2009
(in millions, except share and per share data)
Statements of Operations Data:
Net revenue $ 847 $ 779 $ 767 $ 757 $ 738
Cost and expenses:
Cost of revenue (a) 154 148 139 138 128
Selling, general and administrative 281 261 271 244 257
Marketing (a) 292 253 242 233 225
Depreciation and amortization 55 57 60 73 69
Impairment of goodwill and intangible
assets — 321 50 70 332
Impairment of property and equipment and
other assets 3 1 — 11 —
Total operating expenses 785 1,041 762 769 1,011
Operating income/(loss) 62 (262) 5 (12)(273)
Other income/(expense):
Net interest expense (44) (37)(41)(44)(57)
Other income (expense) (18) — 1 — 2
Total other expense (62) (37)(40)(44)(55)
Loss before income taxes —(299)(35)(56)(328)
Provision/(benefit) for income taxes (165) 3 2 2 9
Net income/(loss) $ 165 $ (302) $ (37) $ (58) $ (337)
Net income/(loss) per basic share (b) $ 1.53 $ (2.86) $ (0.36) $ (0.58) $ (4.01)
Net income/(loss) per diluted share (b) $ 1.46 $ (2.86) $ (0.36) $ (0.58) $ (4.01)
Weighted average shares used in
calculating net earnings/(loss) per share:
Basic 107,952,327 105,582,736 104,118,983 101,269,274 84,073,593
Diluted 113,072,679 105,582,736 104,118,983 101,269,274 84,073,593
Cash dividends declared per common share $ — $ — $ — $ — $ —
December 31,
2013 2012 2011 2010 2009
(in millions)
Balance Sheet Data:
Cash and cash equivalents $ 117 $ 130 $ 136 $ 97 $ 89
Working capital deficit (c) (315) (248)(233)(234)(250)
Total assets 1,108 834 1,146 1,217 1,294
Total long-term debt 430 415 440 472 598
Total shareholders’ equity/(deficit) 42 (143) 161 190 130
(a) During the first quarter of 2011, we changed the classification of expenses for commissions paid to private label partners
(“affiliate commissions”) from cost of revenue to marketing expense in our consolidated statements of operations.
Affiliate commissions were reclassified from cost of revenue to marketing expense for the years ended December 31,
2010 and 2009 in the amount of $16 million and $10 million, respectively.
(b) Net income/(loss) per share may not recalculate due to rounding.
(c) Defined as current assets less current liabilities.