$TRIP
TripAdvisor, Inc.

2021 Q3 Form 10-Q Financial Statement

#000095017021003456 Filed on November 08, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3 2020 Q2
Revenue $303.0M $151.0M $59.00M
YoY Change 100.66% -64.72% -86.02%
Cost Of Revenue $23.00M $13.00M $10.00M
YoY Change 76.92% -48.0% -62.96%
Gross Profit $280.0M $138.0M $49.00M
YoY Change 102.9% -65.76% -87.59%
Gross Profit Margin 92.41% 91.39% 83.05%
Selling, General & Admin $185.0M $105.0M $148.0M
YoY Change 76.19% -65.35% -50.5%
% of Gross Profit 66.07% 76.09% 302.04%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $28.00M $30.00M $39.00M
YoY Change -6.67% 30.43% 69.57%
% of Gross Profit 10.0% 21.74% 79.59%
Operating Expenses $185.0M $105.0M $180.0M
YoY Change 76.19% -68.66% -45.29%
Operating Profit $16.00M -$46.00M -$164.0M
YoY Change -134.78% -167.65% -348.48%
Interest Expense $12.00M $13.00M $7.000M
YoY Change -7.69% 550.0% 250.0%
% of Operating Profit 75.0%
Other Income/Expense, Net -$13.00M -$12.00M -$15.00M
YoY Change 8.33% -340.0% -850.0%
Pretax Income $3.000M -$58.00M -$179.0M
YoY Change -105.17% -179.45% -363.24%
Income Tax $2.000M -$10.00M -$26.00M
% Of Pretax Income 66.67%
Net Earnings $1.000M -$48.00M -$153.0M
YoY Change -102.08% -196.0% -550.0%
Net Earnings / Revenue 0.33% -31.79% -259.32%
Basic Earnings Per Share $0.01 -$0.36 -$1.14
Diluted Earnings Per Share $0.01 -$0.36 -$1.14
COMMON SHARES
Basic Shares Outstanding 137.8M 134.4M 134.2M
Diluted Shares Outstanding 144.5M 134.4M 134.2M

Balance Sheet

Concept 2021 Q3 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $682.0M $446.0M $698.0M
YoY Change 52.91% -52.2% -27.74%
Cash & Equivalents $682.0M $446.0M $698.0M
Short-Term Investments
Other Short-Term Assets $28.00M $26.00M $26.00M
YoY Change 7.69% -13.33% -25.71%
Inventory
Prepaid Expenses
Receivables $151.0M $80.00M $69.00M
Other Receivables $52.00M $50.00M $55.00M
Total Short-Term Assets $960.0M $613.0M $853.0M
YoY Change 56.61% -48.09% -32.89%
LONG-TERM ASSETS
Property, Plant & Equipment $220.0M $250.0M $259.0M
YoY Change -12.0% -5.66% -1.15%
Goodwill $846.0M $843.0M $837.0M
YoY Change 0.36% 13.0% 11.01%
Intangibles $69.00M $91.00M $95.00M
YoY Change -24.18% -6.86%
Long-Term Investments $38.00M $40.00M $41.00M
YoY Change -5.0%
Other Assets $99.00M $94.00M $95.00M
YoY Change 5.32% -12.96% -5.94%
Total Long-Term Assets $1.352B $1.383B $1.396B
YoY Change -2.24% 7.46% 7.8%
TOTAL ASSETS
Total Short-Term Assets $960.0M $613.0M $853.0M
Total Long-Term Assets $1.352B $1.383B $1.396B
Total Assets $2.312B $1.996B $2.249B
YoY Change 15.83% -19.12% -12.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.00M $14.00M $13.00M
YoY Change 57.14% -93.4% 0.0%
Accrued Expenses $179.0M $148.0M $141.0M
YoY Change 20.95% -17.32% -22.1%
Deferred Revenue $39.00M $31.00M $38.00M
YoY Change 25.81% -61.22%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $5.000M $5.000M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $363.0M $231.0M $249.0M
YoY Change 57.14% -50.64% -60.97%
LONG-TERM LIABILITIES
Long-Term Debt $832.0M $490.0M $700.0M
YoY Change 69.8% 520.25% 775.0%
Other Long-Term Liabilities $222.0M $357.0M $375.0M
YoY Change -37.82% 3.78% 9.97%
Total Long-Term Liabilities $1.054B $847.0M $1.075B
YoY Change 24.44% 146.22% 215.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $363.0M $231.0M $249.0M
Total Long-Term Liabilities $1.054B $847.0M $1.075B
Total Liabilities $1.518B $1.088B $1.337B
YoY Change 39.52% 32.68% 34.91%
SHAREHOLDERS EQUITY
Retained Earnings $270.0M $461.0M $509.0M
YoY Change -41.43% -53.98%
Common Stock $1.297B $1.224B $1.193B
YoY Change 5.96% 10.36%
Preferred Stock
YoY Change
Treasury Stock (at cost) $722.0M $722.0M $722.0M
YoY Change 0.0% 31.99% 31.99%
Treasury Stock Shares $18.84M $18.84M $18.84M
Shareholders Equity $794.0M $908.0M $912.0M
YoY Change
Total Liabilities & Shareholders Equity $2.312B $1.996B $2.249B
YoY Change 15.83% -19.12% -12.35%

Cashflow Statement

Concept 2021 Q3 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income $1.000M -$48.00M -$153.0M
YoY Change -102.08% -196.0% -550.0%
Depreciation, Depletion And Amortization $28.00M $30.00M $39.00M
YoY Change -6.67% 30.43% 69.57%
Cash From Operating Activities -$63.00M -$32.00M -$78.00M
YoY Change 96.88% -3300.0% -143.09%
INVESTING ACTIVITIES
Capital Expenditures -$15.00M -$10.00M -$16.00M
YoY Change 50.0% -54.55% -23.81%
Acquisitions
YoY Change
Other Investing Activities $0.00 $2.000M
YoY Change -108.33%
Cash From Investing Activities -$15.00M -$12.00M -$14.00M
YoY Change 25.0% -77.36% -68.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -12.00M -212.0M -9.000M
YoY Change -94.34% 10500.0% 125.0%
NET CHANGE
Cash From Operating Activities -63.00M -32.00M -78.00M
Cash From Investing Activities -15.00M -12.00M -14.00M
Cash From Financing Activities -12.00M -212.0M -9.000M
Net Change In Cash -90.00M -256.0M -101.0M
YoY Change -64.84% 374.07% -176.52%
FREE CASH FLOW
Cash From Operating Activities -$63.00M -$32.00M -$78.00M
Capital Expenditures -$15.00M -$10.00M -$16.00M
Free Cash Flow -$48.00M -$22.00M -$62.00M
YoY Change 118.18% -195.65% -130.69%

Facts In Submission

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">Accounting Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">We use estimates and assumptions in the preparation of our unaudited condensed consolidated financial statements in accordance with GAAP. Our estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of our unaudited condensed consolidated financial statements. These estimates and assumptions also affect the reported amount of net income or loss during any period. Our actual financial results could differ significantly from these estimates. The significant estimates underlying our unaudited condensed consolidated financial statements include: (i) recognition and recoverability of goodwill; and (ii) accounting for income taxes. The COVID-19 pandemic has created significant uncertainty in macroeconomic conditions, which may cause further business disruptions and continue to adversely and materially impact our results of operations. As a result, some of our estimates and assumptions required increased judgment and carry a higher degree of variability and volatility. As events continue to evolve and additional information becomes available, our estimates may change materially in future periods.</span></p>
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We generally use forward contracts to reduce the effects of foreign currency exchange rate fluctuations on our cash flows. For the three and nine months ended September 30, 2021 and 2020, our forward contracts have not been designated as hedges and generally had maturities of less than 90 days.
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us-gaap Earnings Per Share Diluted
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