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Segment and Geographic Information (Tables)
12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Summary of Segment Information

 

 

 

Year ended December 31, 2019

 

 

 

Hotels, Media & Platform (1)

 

 

Experiences & Dining

 

 

Other (2)

 

 

Corporate and

Unallocated

 

 

Total

 

 

 

(in millions)

 

Revenue

 

$

939

 

 

$

456

 

 

$

165

 

 

$

 

 

$

1,560

 

Adjusted EBITDA

 

 

378

 

 

 

5

 

 

 

55

 

 

 

 

 

 

438

 

Depreciation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(93

)

 

 

(93

)

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(33

)

 

 

(33

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(124

)

 

 

(124

)

Restructuring and other related reorganization costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1

)

 

 

(1

)

Operating income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

187

 

Other income, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

194

 

Provision for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(68

)

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

126

 

 

 

 

Year ended December 31, 2018

 

 

 

Hotels, Media & Platform (1)

 

 

Experiences & Dining

 

 

Other (2)

 

 

Corporate and

Unallocated

 

 

Total

 

 

 

(in millions)

 

Revenue

 

$

1,001

 

 

$

372

 

 

$

242

 

 

$

 

 

$

1,615

 

Adjusted EBITDA

 

 

329

 

 

 

48

 

 

 

45

 

 

 

 

 

 

422

 

Depreciation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(82

)

 

 

(82

)

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(34

)

 

 

(34

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(118

)

 

 

(118

)

Legal reserves and settlements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(5

)

 

 

(5

)

Operating income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

183

 

Other expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(10

)

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

173

 

Provision for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(60

)

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

113

 

 

 

 

Year ended December 31, 2017

 

 

 

Hotels, Media & Platform (1)

 

 

Experiences & Dining

 

 

Other (2)

 

 

Corporate and

Unallocated

 

 

Total

 

 

 

(in millions)

 

Revenue

 

$

1,022

 

 

$

264

 

 

$

270

 

 

$

 

 

$

1,556

 

Adjusted EBITDA

 

 

267

 

 

 

23

 

 

 

41

 

 

 

 

 

 

331

 

Depreciation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(79

)

 

 

(79

)

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(32

)

 

 

(32

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(96

)

 

 

(96

)

Operating income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

124

 

Other expense, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(14

)

Income before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

110

 

Provision for income taxes (3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(129

)

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

(19

)

 

(1)

Includes allocated corporate general and administrative costs of $69 million, $77 million and $76 million and Tripadvisor-branded advertising expenses (primarily television advertising) of $77 million, $122 million and $82 million for the years ended December 31, 2019, 2018 and 2017, respectively.

(2)

Other consists of the combination of our Rentals, Flights/Cruises/Car, SmarterTravel and Tripadvisor China business units and does not constitute a reportable segment.

(3)

The year ended December 31, 2017 reflects $67 million of Transition Tax and $6 million of tax expense recorded due to the remeasurement of net deferred tax assets related to the 2017 Tax Act enacted on December 22, 2017. Refer to “Note 11: Income Taxes” for further information.

Summary of Revenue by Geographic Area

The Company measures its geographic revenue information to the physical location of the Tripadvisor subsidiary which generates the revenue, which is consistent with our measurement of long-lived physical assets, or property and equipment, net. The geographic classification is independent of where the consumer resides, where the consumer is physically located while using the Company's services, or the location of the travel service provider, experience operator or restaurant. For example, a reservation made through Tripadvisor.com at a hotel in the U.S. by a consumer in the U.S. could be part of the Company's non-U.S. revenue.

 

 

 

Year ended December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

 

 

(in millions)

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

821

 

 

$

835

 

 

$

802

 

United Kingdom

 

 

466

 

 

 

508

 

 

 

530

 

All other countries

 

 

273

 

 

 

272

 

 

 

224

 

Total revenue

 

$

1,560

 

 

$

1,615

 

 

$

1,556

 

Property and Equipment, Net

The Company’s property and equipment, net for the United States and all other countries based on the geographic location of the assets consists of the following for the periods presented:

 

 

 

December 31,

 

 

 

2019

 

 

2018

 

 

 

(in millions)

 

Property and equipment, net

 

 

 

 

 

 

 

 

United States

 

$

227

 

 

$

214

 

All other countries

 

 

43

 

 

 

39

 

Total

 

$

270

 

 

$

253