$TRIP
TripAdvisor, Inc.

2015 Q2 Form 10-Q Financial Statement

#000156459015005617 Filed on July 23, 2015

View on sec.gov

Income Statement

Concept 2015 Q2
Revenue $405.0M
YoY Change 25.39%
Cost Of Revenue $16.00M
YoY Change 77.78%
Gross Profit $389.0M
YoY Change 23.89%
Gross Profit Margin 96.05%
Selling, General & Admin $286.0M
YoY Change 79.87%
% of Gross Profit 73.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.00M
YoY Change 64.29%
% of Gross Profit 5.91%
Operating Expenses $310.0M
YoY Change 94.97%
Operating Profit $79.00M
YoY Change -21.0%
Interest Expense $3.000M
YoY Change -250.0%
% of Operating Profit 3.8%
Other Income/Expense, Net
YoY Change
Pretax Income $82.00M
YoY Change -16.33%
Income Tax $24.00M
% Of Pretax Income 29.27%
Net Earnings $58.00M
YoY Change -14.71%
Net Earnings / Revenue 14.32%
Basic Earnings Per Share $0.40
Diluted Earnings Per Share $0.40
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $711.0M
YoY Change 18.11%
Cash & Equivalents $583.0M
Short-Term Investments $128.0M
Other Short-Term Assets $34.00M
YoY Change 6.25%
Inventory
Prepaid Expenses
Receivables $243.0M
Other Receivables $24.00M
Total Short-Term Assets $1.012B
YoY Change 18.36%
LONG-TERM ASSETS
Property, Plant & Equipment $247.0M
YoY Change 75.18%
Goodwill $743.0M
YoY Change 22.41%
Intangibles $199.0M
YoY Change 76.11%
Long-Term Investments $35.00M
YoY Change -57.83%
Other Assets $41.00M
YoY Change 28.13%
Total Long-Term Assets $1.265B
YoY Change 29.61%
TOTAL ASSETS
Total Short-Term Assets $1.012B
Total Long-Term Assets $1.265B
Total Assets $2.277B
YoY Change 24.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $38.00M
YoY Change 40.74%
Accrued Expenses $148.0M
YoY Change 40.95%
Deferred Revenue
YoY Change
Short-Term Debt $1.000M
YoY Change -97.5%
Long-Term Debt Due $1.000M
YoY Change -97.5%
Total Short-Term Liabilities $522.0M
YoY Change 35.23%
LONG-TERM LIABILITIES
Long-Term Debt $287.0M
YoY Change 2.5%
Other Long-Term Liabilities $178.0M
YoY Change 60.36%
Total Long-Term Liabilities $178.0M
YoY Change -54.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $522.0M
Total Long-Term Liabilities $178.0M
Total Liabilities $1.036B
YoY Change 28.7%
SHAREHOLDERS EQUITY
Retained Earnings $749.0M
YoY Change 39.22%
Common Stock $687.0M
YoY Change 8.53%
Preferred Stock
YoY Change
Treasury Stock (at cost) $145.0M
YoY Change 0.0%
Treasury Stock Shares $2.194M
Shareholders Equity $1.241B
YoY Change
Total Liabilities & Shareholders Equity $2.277B
YoY Change 24.36%

Cashflow Statement

Concept 2015 Q2
OPERATING ACTIVITIES
Net Income $58.00M
YoY Change -14.71%
Depreciation, Depletion And Amortization $23.00M
YoY Change 64.29%
Cash From Operating Activities $200.0M
YoY Change 26.58%
INVESTING ACTIVITIES
Capital Expenditures -$23.00M
YoY Change 4.55%
Acquisitions
YoY Change
Other Investing Activities -$50.00M
YoY Change -135.97%
Cash From Investing Activities -$73.00M
YoY Change -162.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -58.00M
YoY Change 480.0%
NET CHANGE
Cash From Operating Activities 200.0M
Cash From Investing Activities -73.00M
Cash From Financing Activities -58.00M
Net Change In Cash 69.00M
YoY Change -73.96%
FREE CASH FLOW
Cash From Operating Activities $200.0M
Capital Expenditures -$23.00M
Free Cash Flow $223.0M
YoY Change 23.89%

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<div> <p style="margin:16.5pt 0pt 0pt; page-break-after:avoid"> <font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold; font-style:italic">Reclassifications </font> </p> <p style="margin:6pt 0pt 0pt; text-indent:26.15pt"> <font style="font-family:'Times New Roman'; font-size:10pt">Pursuant to our disclosure in &#8220;Note 16&#8212; Segment and Geographic Information&#8221; in the notes to our consolidated financial statements in Item 8 of our Annual Report on Form 10-K for the year ended December</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">31, 2014, management revised our reportable segments.&#160; All prior period disclosures have been reclassified to conform to the current reporting structure.</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">These reclassifications had no effect on our unaudited consolidated financial statements.</font> </p> <p style="margin:12pt 0pt 0pt; text-indent:26.15pt"> <font style="font-family:'Times New Roman'; font-size:10pt">In addition, refer to our discussion in &#8220;Note 2&#8212; Significant Accounting Policies&#8221; below for a required prior period reclassification resulting from the adoption of new accounting guidance.</font> </p> <p style="margin:12pt 0pt 0pt; text-indent:26.15pt"> <font style="font-family:'Times New Roman'; font-size:10pt">All other reclassifications made to conform the prior period to the current presentation were not material and had no net effect on our unaudited consolidated financial statements. </font> </p> </div>
us-gaap Use Of Estimates
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<div> <p style="margin:18pt 0pt 0pt; page-break-after:avoid"> <font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold; font-style:italic">Accounting Estimates </font> </p> <p style="margin:6pt 0pt 0pt; text-indent:24.5pt"> <font style="font-family:'Times New Roman'; font-size:10pt">We use estimates and assumptions in the preparation of our unaudited 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 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 consolidated financial statements include: (i) recoverability of intangible assets and goodwill, (ii) recoverability and useful life of long-lived assets, (iii) accounting for income taxes, (iv) purchase accounting for business combinations and (v) stock-based compensation. </font> </p> </div>
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
228000000
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
137000000
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
225000000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
122000000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
51000000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
26000000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
24000000
CY2015Q2 us-gaap Cash
Cash
582000000
CY2015Q2 trip Cash And Cash Equivalents And Available For Sale Securities Amortized Cost
CashAndCashEquivalentsAndAvailableForSaleSecuritiesAmortizedCost
746000000
CY2015Q2 trip Cash And Cash Equivalents And Available For Sale Securities
CashAndCashEquivalentsAndAvailableForSaleSecurities
746000000
CY2014Q4 us-gaap Cash
Cash
447000000
CY2014Q4 trip Cash And Cash Equivalents And Available For Sale Securities Amortized Cost
CashAndCashEquivalentsAndAvailableForSaleSecuritiesAmortizedCost
594000000
CY2014Q4 trip Cash And Cash Equivalents And Available For Sale Securities
CashAndCashEquivalentsAndAvailableForSaleSecurities
594000000
trip Cash And Cash Equivalents Maximum Maturity Period
CashAndCashEquivalentsMaximumMaturityPeriod
P90D
trip Marketable Securities Long Term Maximum Maturity Period
MarketableSecuritiesLongTermMaximumMaturityPeriod
P3Y
trip Marketable Securities Long Term Minimum Maturity Period
MarketableSecuritiesLongTermMinimumMaturityPeriod
P1Y
trip Maximum Remaining Maturity Period For Short Term Securities
MaximumRemainingMaturityPeriodForShortTermSecurities
P12M
trip Minimum Maturity Period For Short Term Securities
MinimumMaturityPeriodForShortTermSecurities
P90D
CY2015Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
1000000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
2000000
us-gaap Derivative Instruments Not Designated As Hedging Instruments Description Of Terms
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsDescriptionOfTerms
Our current forward contracts are not designated as hedges and have current maturities of less than 90 days
CY2015Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
330000000
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
186000000
CY2015Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
83000000
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
77000000
CY2014Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
86000000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
17000000
us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-8000000
CY2015Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
203000000
CY2014Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
202000000
CY2015Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
34000000
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
18000000
CY2015Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
169000000
CY2014Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
184000000
CY2015Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
30000000
CY2014Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
30000000
us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P6Y4M24D
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
16000000
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
30000000
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
29000000
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
26000000
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
23000000
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
45000000
CY2015Q2 trip Debt Instrument Unamortized Discount And Debt Issuance Costs
DebtInstrumentUnamortizedDiscountAndDebtIssuanceCosts
3000000
CY2014Q4 trip Debt Instrument Unamortized Discount And Debt Issuance Costs
DebtInstrumentUnamortizedDiscountAndDebtIssuanceCosts
1000000
CY2015Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.293
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.280
CY2014Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.306
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.292
CY2015Q2 us-gaap Income Tax Examination Interest Accrued
IncomeTaxExaminationInterestAccrued
3000000
CY2015Q2 us-gaap Income Tax Examination Penalties Accrued
IncomeTaxExaminationPenaltiesAccrued
0
CY2015Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
37000000
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
41000000
CY2015Q2 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
49000000
CY2014Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
24000000
CY2015Q2 trip Accrued Charitable Foundation Payments Current
AccruedCharitableFoundationPaymentsCurrent
5000000
CY2014Q4 trip Accrued Charitable Foundation Payments Current
AccruedCharitableFoundationPaymentsCurrent
9000000
CY2015Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
57000000
CY2014Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
40000000
CY2014Q4 trip Unrecognized Tax Benefits Including Interest Accrued
UnrecognizedTaxBenefitsIncludingInterestAccrued
68000000
CY2015Q2 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
81000000
CY2014Q4 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
67000000
CY2014Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
19000000
CY2013Q2 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
280000
trip Threshold Percentage Of Damages Sought To Consolidated Assets Requiring Disclosure
ThresholdPercentageOfDamagesSoughtToConsolidatedAssetsRequiringDisclosure
0.10
CY2015Q2 trip Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
123000000
CY2015Q2 us-gaap Other Nonrecurring Expense
OtherNonrecurringExpense
2000000
CY2014Q2 trip Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
129000000
us-gaap Other Nonrecurring Expense
OtherNonrecurringExpense
2000000
trip Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
251000000
CY2015Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2019000
CY2014Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2777000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2218000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2831000
CY2015Q2 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
231000
CY2014Q2 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
304000
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
271000
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
343000
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2852000
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1744000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2917000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1935000
trip Performance Based Restricted Stock Units And Options Number Of Securities Called By Options And Restricted Stock Units
PerformanceBasedRestrictedStockUnitsAndOptionsNumberOfSecuritiesCalledByOptionsAndRestrictedStockUnits
79465
trip Performance Based Restricted Stock Units And Options Number Of Securities Called By Options And Restricted Stock Units
PerformanceBasedRestrictedStockUnitsAndOptionsNumberOfSecuritiesCalledByOptionsAndRestrictedStockUnits
66666

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trip-10q_20150630.htm Edgar Link pending
trip-20150630.xml Edgar Link completed
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