$TRIP
TripAdvisor, Inc.

2016 Q3 Form 10-Q Financial Statement

#000156459016028323 Filed on November 08, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q4 2015 Q3
Revenue $421.0M $309.0M $415.0M
YoY Change 1.45% 7.29% 17.23%
Cost Of Revenue $19.00M $12.00M $16.00M
YoY Change 18.75% 0.0% 45.45%
Gross Profit $402.0M $297.0M $399.0M
YoY Change 0.75% 7.61% 16.33%
Gross Profit Margin 95.49% 96.12% 96.14%
Selling, General & Admin $310.0M $297.0M $288.0M
YoY Change 7.64% 55.5% 19.5%
% of Gross Profit 77.11% 100.0% 72.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $26.00M $25.00M $24.00M
YoY Change 8.33% 19.05% 33.33%
% of Gross Profit 6.47% 8.42% 6.02%
Operating Expenses $336.0M $322.0M $311.0M
YoY Change 8.04% 51.89% 20.08%
Operating Profit $66.00M -$25.00M $88.00M
YoY Change -25.0% -141.67% 4.76%
Interest Expense -$3.000M -$4.000M -$7.000M
YoY Change -57.14% -20.0% -22.22%
% of Operating Profit -4.55% -7.95%
Other Income/Expense, Net
YoY Change
Pretax Income $63.00M -$26.00M $98.00M
YoY Change -35.71% -147.27% 30.67%
Income Tax $8.000M -$29.00M $24.00M
% Of Pretax Income 12.7% 24.49%
Net Earnings $55.00M $3.000M $74.00M
YoY Change -25.68% -91.67% 37.04%
Net Earnings / Revenue 13.06% 0.97% 17.83%
Basic Earnings Per Share $0.38 $0.02 $0.51
Diluted Earnings Per Share $0.37 $0.02 $0.51
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $727.0M $661.0M $686.0M
YoY Change 5.98% 17.41% 19.1%
Cash & Equivalents $611.0M $614.0M $567.0M
Short-Term Investments $116.0M $47.00M $119.0M
Other Short-Term Assets $18.00M $24.00M $33.00M
YoY Change -45.45% -27.27% -8.33%
Inventory
Prepaid Expenses $2.000M
Receivables $221.0M $180.0M $224.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $966.0M $865.0M $943.0M
YoY Change 2.44% 17.37% 19.07%
LONG-TERM ASSETS
Property, Plant & Equipment $262.0M $247.0M $247.0M
YoY Change 6.07% 26.67% 53.42%
Goodwill $744.0M $732.0M $735.0M
YoY Change 1.22% -0.27%
Intangibles $178.0M $176.0M $186.0M
YoY Change -4.3% -17.76%
Long-Term Investments $29.00M $37.00M $44.00M
YoY Change -34.09% 19.35% 15.79%
Other Assets $98.00M $46.00M $43.00M
YoY Change 127.91% 24.32% 16.22%
Total Long-Term Assets $1.311B $1.263B $1.255B
YoY Change 4.46% 4.29% 7.82%
TOTAL ASSETS
Total Short-Term Assets $966.0M $865.0M $943.0M
Total Long-Term Assets $1.311B $1.263B $1.255B
Total Assets $2.277B $2.128B $2.198B
YoY Change 3.59% 9.24% 12.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $163.0M $10.00M $17.00M
YoY Change 858.82% -47.37% -87.22%
Accrued Expenses $126.0M $123.0M $89.00M
YoY Change 41.57% 7.89% -33.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $1.000M $1.000M
YoY Change -100.0% -98.72% -97.5%
Long-Term Debt Due $76.00M $1.000M $1.000M
YoY Change 7500.0% -98.72% -97.5%
Total Short-Term Liabilities $450.0M $312.0M $356.0M
YoY Change 26.4% -18.11% -14.63%
LONG-TERM LIABILITIES
Long-Term Debt $20.00M $200.0M $370.0M
YoY Change -94.59% -22.78% 37.04%
Other Long-Term Liabilities $207.0M $189.0M $187.0M
YoY Change 10.7% 22.73% 39.55%
Total Long-Term Liabilities $20.00M $389.0M $187.0M
YoY Change -89.3% -5.81% 39.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $450.0M $312.0M $356.0M
Total Long-Term Liabilities $20.00M $389.0M $187.0M
Total Liabilities $697.0M $716.0M $872.0M
YoY Change -20.07% -13.0% 58.26%
SHAREHOLDERS EQUITY
Retained Earnings $944.0M $826.0M
YoY Change 31.53%
Common Stock $808.0M $741.0M
YoY Change 10.1%
Preferred Stock
YoY Change
Treasury Stock (at cost) $113.0M $92.00M
YoY Change -36.55%
Treasury Stock Shares $1.744M $1.393M $2.194M
Shareholders Equity $1.580B $1.412B $1.326B
YoY Change
Total Liabilities & Shareholders Equity $2.277B $2.128B $2.198B
YoY Change 3.59% 9.24% 12.37%

Cashflow Statement

Concept 2016 Q3 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income $55.00M $3.000M $74.00M
YoY Change -25.68% -91.67% 37.04%
Depreciation, Depletion And Amortization $26.00M $25.00M $24.00M
YoY Change 8.33% 19.05% 33.33%
Cash From Operating Activities -$87.00M $79.00M $40.00M
YoY Change -317.5% -2.47% -32.2%
INVESTING ACTIVITIES
Capital Expenditures -$21.00M -$16.00M -$39.00M
YoY Change -46.15% -38.46% 200.0%
Acquisitions
YoY Change
Other Investing Activities -$43.00M $84.00M $20.00M
YoY Change -315.0% -235.48% -116.39%
Cash From Investing Activities -$64.00M $68.00M -$19.00M
YoY Change 236.84% -177.27% -85.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.000M -96.00M -32.00M
YoY Change -87.5% 269.23% 190.91%
NET CHANGE
Cash From Operating Activities -87.00M 79.00M 40.00M
Cash From Investing Activities -64.00M 68.00M -19.00M
Cash From Financing Activities -4.000M -96.00M -32.00M
Net Change In Cash -155.0M 51.00M -11.00M
YoY Change 1309.09% -254.55% -87.36%
FREE CASH FLOW
Cash From Operating Activities -$87.00M $79.00M $40.00M
Capital Expenditures -$21.00M -$16.00M -$39.00M
Free Cash Flow -$66.00M $95.00M $79.00M
YoY Change -183.54% -11.21% 9.72%

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0.4183
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4176
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2016Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1135000
CY2015Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1229000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1959000
CY2016Q3 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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404000
CY2015Q3 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
253000
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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314000
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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265000
CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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3756000
CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2413000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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3750000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2016Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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611000000
CY2016Q3 us-gaap Cash
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CY2016Q3 trip Cash And Cash Equivalents And Available For Sale Securities Amortized Cost
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756000000
CY2016Q3 trip Cash And Cash Equivalents And Available For Sale Securities
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CY2015Q4 us-gaap Cash
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CY2015Q4 trip Cash And Cash Equivalents And Available For Sale Securities Amortized Cost
CashAndCashEquivalentsAndAvailableForSaleSecuritiesAmortizedCost
698000000
CY2015Q4 trip Cash And Cash Equivalents And Available For Sale Securities
CashAndCashEquivalentsAndAvailableForSaleSecurities
698000000
trip Cash And Cash Equivalents Maximum Maturity Period
CashAndCashEquivalentsMaximumMaturityPeriod
P90D
CY2015 trip Cash And Cash Equivalents Maximum Maturity Period
CashAndCashEquivalentsMaximumMaturityPeriod
P90D
trip Marketable Securities Long Term Maximum Maturity Period
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P3Y
CY2015 trip Marketable Securities Long Term Maximum Maturity Period
MarketableSecuritiesLongTermMaximumMaturityPeriod
P3Y
trip Marketable Securities Long Term Minimum Maturity Period
MarketableSecuritiesLongTermMinimumMaturityPeriod
P1Y
CY2015 trip Marketable Securities Long Term Minimum Maturity Period
MarketableSecuritiesLongTermMinimumMaturityPeriod
P1Y
trip Maximum Remaining Maturity Period For Short Term Securities
MaximumRemainingMaturityPeriodForShortTermSecurities
P12M
CY2015 trip Maximum Remaining Maturity Period For Short Term Securities
MaximumRemainingMaturityPeriodForShortTermSecurities
P12M
trip Minimum Maturity Period For Short Term Securities
MinimumMaturityPeriodForShortTermSecurities
P90D
CY2015 trip Minimum Maturity Period For Short Term Securities
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us-gaap Derivative Gain Loss On Derivative Net
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CY2015Q3 us-gaap Derivative Gain Loss On Derivative Net
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us-gaap Derivative Gain Loss On Derivative Net
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1000000
trip Derivative Instruments Non Designated As Hedging Instruments Description Of Terms
DerivativeInstrumentsNonDesignatedAsHedgingInstrumentsDescriptionOfTerms
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600000000
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us-gaap Effective Income Tax Rate Continuing Operations
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0.185
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0.264
CY2016Q3 us-gaap Income Tax Examination Interest Accrued
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CY2016Q3 us-gaap Income Tax Examination Penalties Accrued
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0
CY2015 trip Income Tax Reconciliation Change In Cost Sharing Treatment Of Stock Based Compensation
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CY2016Q3 trip Income Tax Reconciliation Change In Cost Sharing Treatment Of Stock Based Compensation
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-3000000
trip Income Tax Reconciliation Change In Cost Sharing Treatment Of Stock Based Compensation
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-5000000
CY2016Q3 us-gaap Employee Related Liabilities Current
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CY2015Q4 us-gaap Employee Related Liabilities Current
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47000000
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40000000
CY2015Q4 us-gaap Accrued Marketing Costs Current
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43000000
CY2016Q3 us-gaap Other Accrued Liabilities Current
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39000000
CY2015Q4 us-gaap Other Accrued Liabilities Current
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33000000
CY2013Q1 us-gaap Stock Repurchase Program Authorized Amount1
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250000000
us-gaap Treasury Stock Shares Acquired
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350399
us-gaap Treasury Stock Acquired Average Cost Per Share
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59.85
CY2016Q3 us-gaap Treasury Stock Shares Acquired
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2471108
CY2016Q3 us-gaap Treasury Stock Value Acquired Cost Method
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166000000
trip Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
294000000
trip Adjusted Earnings Before Interest Taxes Depreciation And Amortization
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379000000
CY2016Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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84000000
CY2016Q3 trip Adjusted Earnings Before Interest Taxes Depreciation And Amortization
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114000000
CY2015Q3 trip Adjusted Earnings Before Interest Taxes Depreciation And Amortization
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130000000
us-gaap Other Nonrecurring Expense
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CY2015Q3 trip Foreign Currency Transaction Gain Loss And Gain Loss On Foreign Currency Derivatives Recorded In Earnings Net
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-4000000
trip Foreign Currency Transaction Gain Loss And Gain Loss On Foreign Currency Derivatives Recorded In Earnings Net
ForeignCurrencyTransactionGainLossAndGainLossOnForeignCurrencyDerivativesRecordedInEarningsNet
-1000000
trip Foreign Currency Transaction Gain Loss And Gain Loss On Foreign Currency Derivatives Recorded In Earnings Net
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-3000000
us-gaap Interest Income Expense Nonoperating Net
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1000000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
1000000
CY2015Q3 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
17000000

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