Orbitz 2013 Annual Report Download - page 83

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ORBITZ WORLDWIDE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
83
(a) We recorded transaction gains/(losses) associated with the re-measurement and settlement of our foreign denominated
assets and liabilities of $(9.3) million, $6.7 million and $(3.0) million for the years ended December 31, 2013, 2012
and 2011, respectively. These transaction gains and losses were included in selling, general and administrative expense
in our consolidated statements of operations. The net impact of these transaction gains and losses, together with the
gains/(losses) incurred on our foreign currency hedges, were losses of $5.4 million, $4.7 million and $5.4 million for
the years ended December 31, 2013, 2012 and 2011, respectively.
The tables below show the gross and net information related to derivatives eligible for offset in the Consolidated
Balance Sheets as of December 31, 2013 and 2012. The gross asset amount of the derivative listed below in the maximum loss
the Company would incur if the counterparties failed to meet their obligation.
Gross Amounts of Recognized
Liabilities Gross Amounts Offset in the
Consolidated Balance Sheet
Net Amounts of Liabilities
Presented in the Consolidated
Balance Sheets
(in thousands)
December 31, 2013 $ 8,324 $ (5,707) $ 2,617
December 31, 2012 $ 3,649 $ (977) $ 2,672
13. Employee Benefit Plans
We sponsor a defined contribution savings plan for employees in the United States that provides certain of our eligible
employees an opportunity to accumulate funds for retirement. HotelClub and ebookers sponsor similar defined contribution
savings plans. After employees have attained one year of service, we match the contributions of participating employees on the
basis specified by the plans, up to a maximum of 3% of participant compensation. We recorded total expense related to these
plans in the amount of $4.9 million, $4.8 million and $5.3 million for the years ended December 31, 2013, 2012 and 2011,
respectively.
14. Net Income/(Loss) per Share
We calculate basic net income/(loss) per share by dividing the net income/(loss) for the period by the weighted-average
number of shares outstanding during the period. The weighted-average number of shares includes common shares outstanding
and deferred stock units, which are immediately vested and non-forfeitable. Diluted net income/(loss) per share is calculated by
dividing the net income/(loss) for the period by the weighted-average number of common shares outstanding and potentially
dilutive common shares outstanding during the period. Potentially dilutive common shares are determined by the application of
the treasury stock method.
The following table presents the weighted-average shares outstanding used in the calculation of net income/(loss) per
share:
Years Ended December 31,
Weighted-Average Shares Outstanding 2013 2012 2011
Basic 107,952,327 105,582,736 104,118,983
Diluted effect of:
Restricted stock units 2,586,325 — —
Performance-based restricted stock units 2,117,454 — —
Stock options 416,573 — —
Diluted 113,072,679 105,582,736 104,118,983