$TRIP
TripAdvisor, Inc.

2016 Q1 Form 10-Q Financial Statement

#000156459016018577 Filed on May 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $352.0M $363.0M
YoY Change -3.03% 29.18%
Cost Of Revenue $16.00M $13.00M
YoY Change 23.08% 62.5%
Gross Profit $336.0M $350.0M
YoY Change -4.0% 28.21%
Gross Profit Margin 95.45% 96.42%
Selling, General & Admin $270.0M $190.0M
YoY Change 42.11% 49.61%
% of Gross Profit 80.36% 54.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.00M $14.00M
YoY Change 71.43% 40.0%
% of Gross Profit 7.14% 4.0%
Operating Expenses $294.0M $190.0M
YoY Change 54.74% 49.61%
Operating Profit $42.00M $90.00M
YoY Change -53.33% -6.25%
Interest Expense -$4.000M $2.000M
YoY Change -300.0% 0.0%
% of Operating Profit -9.52% 2.22%
Other Income/Expense, Net -$4.000M
YoY Change 100.0%
Pretax Income $38.00M $86.00M
YoY Change -55.81% -8.51%
Income Tax $11.00M $23.00M
% Of Pretax Income 28.95% 26.74%
Net Earnings $29.00M $63.00M
YoY Change -53.97% -7.35%
Net Earnings / Revenue 8.24% 17.36%
Basic Earnings Per Share $0.20 $0.44
Diluted Earnings Per Share $0.20 $0.43
COMMON SHARES
Basic Shares Outstanding 145.4M 143.1M
Diluted Shares Outstanding 146.9M 145.9M

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $692.0M $623.0M
YoY Change 11.08% 21.68%
Cash & Equivalents $653.0M $505.0M
Short-Term Investments $39.00M $118.0M
Other Short-Term Assets $28.00M $42.00M
YoY Change -33.33% 100.0%
Inventory
Prepaid Expenses
Receivables $244.0M $229.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $964.0M $894.0M
YoY Change 7.83% 38.6%
LONG-TERM ASSETS
Property, Plant & Equipment $252.0M $226.0M
YoY Change 11.5% 98.25%
Goodwill $737.0M
YoY Change
Intangibles $172.0M
YoY Change
Long-Term Investments $17.00M $19.00M
YoY Change -10.53% -93.31%
Other Assets $72.00M $39.00M
YoY Change 84.62% 105.26%
Total Long-Term Assets $1.250B $1.200B
YoY Change 4.17% 23.71%
TOTAL ASSETS
Total Short-Term Assets $964.0M $894.0M
Total Long-Term Assets $1.250B $1.200B
Total Assets $2.214B $2.094B
YoY Change 5.73% 29.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.00M $26.00M
YoY Change -42.31% 136.36%
Accrued Expenses $134.0M $67.00M
YoY Change 100.0% -17.28%
Deferred Revenue
YoY Change
Short-Term Debt $1.000M $40.00M
YoY Change -97.5% 0.0%
Long-Term Debt Due $1.000M $40.00M
YoY Change -97.5% 0.0%
Total Short-Term Liabilities $432.0M $452.0M
YoY Change -4.42% 54.27%
LONG-TERM LIABILITIES
Long-Term Debt $110.0M $250.0M
YoY Change -56.0% -13.79%
Other Long-Term Liabilities $192.0M $174.0M
YoY Change 10.34% 138.36%
Total Long-Term Liabilities $302.0M $424.0M
YoY Change -28.77% 16.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $432.0M $452.0M
Total Long-Term Liabilities $302.0M $424.0M
Total Liabilities $750.0M $915.0M
YoY Change -18.03% 36.36%
SHAREHOLDERS EQUITY
Retained Earnings $853.0M
YoY Change
Common Stock $758.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $93.00M
YoY Change
Treasury Stock Shares $1.417M
Shareholders Equity $1.464B $1.179B
YoY Change
Total Liabilities & Shareholders Equity $2.214B $2.094B
YoY Change 5.73% 29.66%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $29.00M $63.00M
YoY Change -53.97% -7.35%
Depreciation, Depletion And Amortization $24.00M $14.00M
YoY Change 71.43% 40.0%
Cash From Operating Activities $124.0M $99.00M
YoY Change 25.25% -9.17%
INVESTING ACTIVITIES
Capital Expenditures $17.00M $31.00M
YoY Change -45.16% 55.0%
Acquisitions $5.000M
YoY Change
Other Investing Activities $28.00M -$3.000M
YoY Change -1033.33% -97.2%
Cash From Investing Activities $11.00M -$34.00M
YoY Change -132.35% -73.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.000M
YoY Change
Debt Paid & Issued, Net $10.00M
YoY Change 0.0%
Cash From Financing Activities -98.00M -3.000M
YoY Change 3166.67% -78.57%
NET CHANGE
Cash From Operating Activities 124.0M 99.00M
Cash From Investing Activities 11.00M -34.00M
Cash From Financing Activities -98.00M -3.000M
Net Change In Cash 37.00M 62.00M
YoY Change -40.32% -293.75%
FREE CASH FLOW
Cash From Operating Activities $124.0M $99.00M
Capital Expenditures $17.00M $31.00M
Free Cash Flow $107.0M $68.00M
YoY Change 57.35% -23.6%

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<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Accounting Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">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, intangible and other long-lived assets; (ii) accounting for income taxes; and (iii) stock-based compensation. </p></div>
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0.4164
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0.4186
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0
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0
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698000000
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698000000
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P90D
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P3Y
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P1Y
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-13000000
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250000000
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2144786
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147000000
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103000000
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32000000
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47000000
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59000000
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43000000
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43000000
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33000000
CY2016Q1 trip Adjusted Earnings Before Interest Taxes Depreciation And Amortization
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85000000
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127000000
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1185000
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2417000
CY2016Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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273000
CY2015Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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310000
CY2016Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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3758000
CY2015Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2981000

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