Operating Segment Information |
The following tables present our segment information for the three and nine months ended September 30, 2016 and September 30, 2015. As a significant portion of our property and equipment is not allocated to our operating segments and depreciation is not included in our segment measure, we do not report the assets by segment as it would not be meaningful. We do not regularly provide such information to our chief operating decision makers. | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, 2016 | | Core OTA | | trivago | | Egencia | | HomeAway(1) | | Corporate & Eliminations | | Total | | (In thousands) | Third-party revenue | $ | 2,083,393 |
| | $ | 175,953 |
| | $ | 111,762 |
| | $ | 209,797 |
| | $ | — |
| | $ | 2,580,905 |
| Intersegment revenue | — |
| | 100,520 |
| | — |
| | — |
| | (100,520 | ) | | — |
| Revenue | $ | 2,083,393 |
| | $ | 276,473 |
| | $ | 111,762 |
| | $ | 209,797 |
| | $ | (100,520 | ) | | $ | 2,580,905 |
| Adjusted EBITDA | $ | 713,849 |
| | $ | 5,725 |
| | $ | 18,155 |
| | $ | 77,342 |
| | $ | (148,383 | ) | | $ | 666,688 |
| Depreciation | (65,251 | ) | | (2,622 | ) | | (8,342 | ) | | (4,954 | ) | | (42,386 | ) | | (123,555 | ) | Amortization of intangible assets | — |
| | — |
| | — |
| | — |
| | (77,080 | ) | | (77,080 | ) | Stock-based compensation | — |
| | — |
| | — |
| | — |
| | (48,263 | ) | | (48,263 | ) | Legal reserves, occupancy tax and other | — |
| | — |
| | — |
| | — |
| | (22,332 | ) | | (22,332 | ) | Restructuring and related reorganization charges | — |
| | — |
| | — |
| | — |
| | (5,591 | ) | | (5,591 | ) | Realized (gain) loss on revenue hedges | (3,715 | ) | | — |
| | — |
| | — |
| | — |
| | (3,715 | ) | Operating income (loss) | $ | 644,883 |
| | $ | 3,103 |
| | $ | 9,813 |
| | $ | 72,388 |
| | $ | (344,035 | ) | | 386,152 |
| Other expense, net | | | | | | | | | | | (46,597 | ) | Income before income taxes | | | | | | | | | | | 339,555 |
| Provision for income taxes | | | | | | | | | | | (60,627 | ) | Net income | | | | | | | | | | | 278,928 |
| Net loss attributable to noncontrolling interests | | | | | | | | 403 |
| Net income attributable to Expedia, Inc. | | | | | | | | | | $ | 279,331 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, 2015 | | Core OTA | | trivago | | Egencia | | eLong(2) | | Corporate & Eliminations | | Total | | (In thousands) | Third-party revenue | $ | 1,739,363 |
| | $ | 104,162 |
| | $ | 94,228 |
| | $ | — |
| | $ | — |
| | $ | 1,937,753 |
| Intersegment revenue | — |
| | 71,439 |
| | — |
| | — |
| | (71,439 | ) | | — |
| Revenue | $ | 1,739,363 |
| | $ | 175,601 |
| | $ | 94,228 |
| | $ | — |
| | $ | (71,439 | ) | | $ | 1,937,753 |
| Adjusted EBITDA | $ | 589,433 |
| | $ | (9,496 | ) | | $ | 14,140 |
| | $ | — |
| | $ | (125,023 | ) | | $ | 469,054 |
| Depreciation | (48,269 | ) | | (574 | ) | | (6,086 | ) | | — |
| | (32,227 | ) | | (87,156 | ) | Amortization of intangible assets | — |
| | — |
| | — |
| | — |
| | (31,400 | ) | | (31,400 | ) | Stock-based compensation | — |
| | — |
| | — |
| | — |
| | (63,656 | ) | | (63,656 | ) | Legal reserves, occupancy tax and other | — |
| | — |
| | — |
| | — |
| | 114,550 |
| | 114,550 |
| Restructuring and related reorganization charges | — |
| | — |
| | — |
| | — |
| | (42,449 | ) | | (42,449 | ) | Realized (gain) loss on revenue hedges | (13,945 | ) | | — |
| | — |
| | — |
| | — |
| | (13,945 | ) | Operating income (loss) | $ | 527,219 |
| | $ | (10,070 | ) | | $ | 8,054 |
| | $ | — |
| | $ | (180,205 | ) | | 344,998 |
| Other expense, net | | | | | | | | | | | (2,811 | ) | Income before income taxes | | | | | | | | | | | 342,187 |
| Provision for income taxes | | | | | | | | | | | (65,950 | ) | Net income | | | | | | | | | | | 276,237 |
| Net loss attributable to noncontrolling interests | | | | | | | | 6,979 |
| Net income attributable to Expedia, Inc. | | | | | | | | | | $ | 283,216 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | Nine months ended September 30, 2016 | | Core OTA | | trivago | | Egencia | | HomeAway(1) | | Corporate & Eliminations | | Total | | (In thousands) | Third-party revenue | $ | 5,388,178 |
| | $ | 422,852 |
| | $ | 346,117 |
| | $ | 523,588 |
| | $ | — |
| | $ | 6,680,735 |
| Intersegment revenue | — |
| | 230,314 |
| | — |
| | — |
| | (230,314 | ) | | — |
| Revenue | $ | 5,388,178 |
| | $ | 653,166 |
| | $ | 346,117 |
| | $ | 523,588 |
| | $ | (230,314 | ) | | $ | 6,680,735 |
| Adjusted EBITDA | $ | 1,434,424 |
| | $ | 20,466 |
| | $ | 59,986 |
| | $ | 132,926 |
| | $ | (473,665 | ) | | $ | 1,174,137 |
| Depreciation | (186,308 | ) | | (5,593 | ) | | (23,267 | ) | | (12,721 | ) | | (116,944 | ) | | (344,833 | ) | Amortization of intangible assets | — |
| | — |
| | — |
| | — |
| | (251,260 | ) | | (251,260 | ) | Stock-based compensation | — |
| | — |
| | — |
| | — |
| | (197,602 | ) | | (197,602 | ) | Legal reserves, occupancy tax and other | — |
| | — |
| | — |
| | — |
| | (28,650 | ) | | (28,650 | ) | Restructuring and related reorganization charges | — |
| | — |
| | — |
| | — |
| | (33,584 | ) | | (33,584 | ) | Realized (gain) loss on revenue hedges | (3,692 | ) | | — |
| | — |
| | — |
| | — |
| | (3,692 | ) | Operating income (loss) | $ | 1,244,424 |
| | $ | 14,873 |
| | $ | 36,719 |
| | $ | 120,205 |
| | $ | (1,101,705 | ) | | 314,516 |
| Other expense, net | | | | | | | | | | | (153,042 | ) | Income before income taxes | | | | | | | | | | | 161,474 |
| Provision for income taxes | | | | | | | | | | | 14,929 |
| Net income | | | | | | | | | | | 176,403 |
| Net loss attributable to noncontrolling interests | | | | | | | | 25,988 |
| Net income attributable to Expedia, Inc. | | | | | | | | | | $ | 202,391 |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | Nine months ended September 30, 2015 | | Core OTA | | trivago | | Egencia | | eLong(2) | | Corporate & Eliminations | | Total | | (In thousands) | Third-party revenue | $ | 4,372,224 |
| | $ | 266,287 |
| | $ | 293,496 |
| | $ | 41,743 |
| | $ | — |
| | $ | 4,973,750 |
| Intersegment revenue | — |
| | 170,984 |
| | — |
| | — |
| | (170,984 | ) | | — |
| Revenue | $ | 4,372,224 |
| | $ | 437,271 |
| | $ | 293,496 |
| | $ | 41,743 |
| | $ | (170,984 | ) | | $ | 4,973,750 |
| Adjusted EBITDA | $ | 1,193,228 |
| | $ | (13,421 | ) | | $ | 57,637 |
| | $ | (62,167 | ) | | $ | (352,111 | ) | | $ | 823,166 |
| Depreciation | (134,527 | ) | | (1,461 | ) | | (17,874 | ) | | (3,263 | ) | | (83,753 | ) | | (240,878 | ) | Amortization of intangible assets | — |
| | — |
| | — |
| | — |
| | (83,322 | ) | | (83,322 | ) | Stock-based compensation | — |
| | — |
| | — |
| | — |
| | (134,036 | ) | | (134,036 | ) | Legal reserves, occupancy tax and other | — |
| | — |
| | — |
| | — |
| | 106,511 |
| | 106,511 |
| Restructuring and related reorganization charges | — |
| | — |
| | — |
| | — |
| | (52,771 | ) | | (52,771 | ) | Realized (gain) loss on revenue hedges | (34,581 | ) | | — |
| | — |
| | — |
| | — |
| | (34,581 | ) | Operating income (loss) | $ | 1,024,120 |
| | $ | (14,882 | ) | | $ | 39,763 |
| | $ | (65,430 | ) | | $ | (599,482 | ) | | 384,089 |
| Other income, net | | | | | | | | | | | 547,806 |
| Income before income taxes | | | | | | | | | | | 931,895 |
| Provision for income taxes | | | | | | | | | | | (196,261 | ) | Net income | | | | | | | | | | | 735,634 |
| Net loss attributable to noncontrolling interests | | | | | | | | 41,369 |
| Net income attributable to Expedia, Inc. | | | | | | | | | | $ | 777,003 |
|
| | (1) | Includes results since our acquisition of HomeAway on December 15, 2015. |
| | (2) | Includes results of eLong through its disposal on May 22, 2015. |
|