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ORBITZ WORLDWIDE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
84
The following equity awards were not included in the diluted net income/(loss) per share calculation because they would
have had an antidilutive effect:
Years Ended December 31,
Antidilutive Equity Awards 2013 2012 2011
Stock options 200,409 3,009,654 3,274,156
Restricted stock units 5,772 4,379,665 4,455,507
Performance-based restricted stock units — 907,616 1,065,250
Total 206,181 8,296,935 8,794,913
15. Related Party Transactions
Related Party Transactions with Travelport and its Subsidiaries
We had amounts due from Travelport of $12.3 million and $5.6 million at December 31, 2013 and 2012, respectively.
Amounts due to or from Travelport are generally settled on a net basis.
The following table summarizes the related party transactions with Travelport and its subsidiaries, reflected in our
consolidated statements of operations:
Years Ended December 31,
2013 2012 2011
(in thousands)
Net revenue (a) (b) $ 85,293 $ 98,113 $ 110,302
Cost of revenue (60) 250 619
Selling, general and administrative expense 116 260 875
Marketing expense 53 — —
Interest expense (c) 4,106 6,706 5,595
(a) Net revenue includes incentive revenue for segments processed through Galileo and Worldspan, both of which are
subsidiaries of Travelport. This incentive revenue accounted for more than 10% of our total net revenue in 2012 and
2011 (see “GDS Service Agreement” section below).
(b) Net revenue includes amounts recognized under our GDS services agreement and bookings sourced through Donvand
Limited and OctopusTravel Group Limited (doing business as Gullivers Travel Associates, “GTA”) through March 31,
2011; as of the end of the second quarter of 2011, GTA was no longer a related party. In addition, net revenue for the
year ended December 31, 2011 includes incremental GDS incentive revenue recognized from 2011 under the Letter
Agreement with Travelport (see “Letter Agreement” section below).
(c) Interest expense relates to letters of credit issued on our behalf by Travelport (see Note 9 - Commitments and
Contingencies).
Separation Agreement
We entered into a Separation Agreement with Travelport at the time of the IPO. This agreement, as amended, provided
the general terms for the separation of our respective businesses. When we were a wholly-owned subsidiary of Travelport,
Travelport provided guarantees, letters of credit and surety bonds on our behalf under our commercial agreements and leases
and for the benefit of regulatory agencies. Under the Separation Agreement, we were required to use commercially reasonable
efforts to have Travelport released from any then outstanding guarantees and surety bonds. As a result, Travelport no longer
provides surety bonds on our behalf or guarantees in connection with commercial agreements or leases entered into or replaced
by us subsequent to the IPO. Our ability to pay dividends may require the prior consent of Travelport. As of April 15, 2013,
Travelport is no longer obligated to issue letters of credit on our behalf.