$TRIP
TripAdvisor, Inc.

2021 Q1 Form 10-Q Financial Statement

#000156459021024945 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $123.0M $278.0M
YoY Change -55.76% -26.06%
Cost Of Revenue $12.00M $19.00M
YoY Change -36.84% -9.52%
Gross Profit $111.0M $259.0M
YoY Change -57.14% -27.04%
Gross Profit Margin 90.24% 93.17%
Selling, General & Admin $111.0M $181.0M
YoY Change -38.67% -17.73%
% of Gross Profit 100.0% 69.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.00M $25.00M
YoY Change 16.0% 8.7%
% of Gross Profit 26.13% 9.65%
Operating Expenses $111.0M $181.0M
YoY Change -38.67% -17.73%
Operating Profit -$84.00M -$27.00M
YoY Change 211.11% -187.1%
Interest Expense $11.00M -$1.000M
YoY Change -1200.0% -150.0%
% of Operating Profit
Other Income/Expense, Net -$12.00M
YoY Change
Pretax Income -$96.00M -$27.00M
YoY Change 255.56% -181.82%
Income Tax -$16.00M -$11.00M
% Of Pretax Income
Net Earnings -$80.00M -$16.00M
YoY Change 400.0% -161.54%
Net Earnings / Revenue -65.04% -5.76%
Basic Earnings Per Share -$0.59 -$0.12
Diluted Earnings Per Share -$0.59 -$0.12
COMMON SHARES
Basic Shares Outstanding 135.7M 136.2M
Diluted Shares Outstanding 135.7M 136.2M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $674.0M $798.0M
YoY Change -15.54% -1.6%
Cash & Equivalents $674.0M $798.0M
Short-Term Investments
Other Short-Term Assets $24.00M $29.00M
YoY Change -17.24% -17.14%
Inventory
Prepaid Expenses
Receivables $73.00M $154.0M
Other Receivables $50.00M $26.00M
Total Short-Term Assets $845.0M $1.012B
YoY Change -16.5% -6.47%
LONG-TERM ASSETS
Property, Plant & Equipment $229.0M $268.0M
YoY Change -14.55% 4.28%
Goodwill $852.0M $826.0M
YoY Change 3.15%
Intangibles $80.00M $101.0M
YoY Change -20.79%
Long-Term Investments $39.00M $54.00M
YoY Change -27.78%
Other Assets $104.0M $92.00M
YoY Change 13.04% -8.0%
Total Long-Term Assets $1.387B $1.415B
YoY Change -1.98% 7.77%
TOTAL ASSETS
Total Short-Term Assets $845.0M $1.012B
Total Long-Term Assets $1.387B $1.415B
Total Assets $2.232B $2.427B
YoY Change -8.03% 1.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.00M $34.00M
YoY Change -61.76% -87.59%
Accrued Expenses $155.0M $146.0M
YoY Change 6.16% -2.67%
Deferred Revenue $28.00M $62.00M
YoY Change -54.84% -1.59%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.000M
YoY Change 0.0%
Total Short-Term Liabilities $277.0M $311.0M
YoY Change -10.93% -41.32%
LONG-TERM LIABILITIES
Long-Term Debt $831.0M $700.0M
YoY Change 18.71% 753.66%
Other Long-Term Liabilities $226.0M $373.0M
YoY Change -39.41% 46.85%
Total Long-Term Liabilities $1.057B $1.073B
YoY Change -1.49% 219.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $277.0M $311.0M
Total Long-Term Liabilities $1.057B $1.073B
Total Liabilities $1.447B $1.400B
YoY Change 3.36% 57.66%
SHAREHOLDERS EQUITY
Retained Earnings $309.0M $662.0M
YoY Change -53.32% -38.25%
Common Stock $1.244B $1.167B
YoY Change 6.6% 11.57%
Preferred Stock
YoY Change
Treasury Stock (at cost) $722.0M $722.0M
YoY Change 0.0% 31.99%
Treasury Stock Shares $18.84M $18.82M
Shareholders Equity $785.0M $1.027B
YoY Change
Total Liabilities & Shareholders Equity $2.232B $2.427B
YoY Change -8.03% 1.34%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$80.00M -$16.00M
YoY Change 400.0% -161.54%
Depreciation, Depletion And Amortization $29.00M $25.00M
YoY Change 16.0% 8.7%
Cash From Operating Activities -$19.00M -$70.00M
YoY Change -72.86% -138.46%
INVESTING ACTIVITIES
Capital Expenditures $10.00M $20.00M
YoY Change -50.0% 17.65%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$10.00M -$20.00M
YoY Change -50.0% -52.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $115.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 287.0M 570.0M
YoY Change -49.65% -2475.0%
NET CHANGE
Cash From Operating Activities -19.00M -70.00M
Cash From Investing Activities -10.00M -20.00M
Cash From Financing Activities 287.0M 570.0M
Net Change In Cash 256.0M 479.0M
YoY Change -46.56% 312.93%
FREE CASH FLOW
Cash From Operating Activities -$19.00M -$70.00M
Capital Expenditures $10.00M $20.00M
Free Cash Flow -$29.00M -$90.00M
YoY Change -67.78% -154.55%

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EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3000000
CY2020Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
4000000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
135746000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
136240000
CY2021Q1 us-gaap Earnings Per Share Basic
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-0.59
CY2020Q1 us-gaap Earnings Per Share Basic
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-0.12
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4264
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
20.35
CY2021Q1 us-gaap Earnings Per Share Diluted
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-0.59
CY2020Q1 us-gaap Earnings Per Share Diluted
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-0.12
CY2021Q1 us-gaap Number Of Reportable Segments
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2
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
10.18
CY2021Q1 trip Income Tax Benefits Associated With Exercise Settlement Of Stock Based Awards
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CY2020Q1 trip Income Tax Benefits Associated With Exercise Settlement Of Stock Based Awards
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CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q1 trip Adjusted Earnings Before Interest Taxes Depreciation And Amortization
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CY2021Q1 us-gaap Depreciation And Amortization
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CY2021Q1 us-gaap Allocated Share Based Compensation Expense
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29000000
CY2021Q1 us-gaap Operating Income Loss
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CY2021Q1 us-gaap Nonoperating Income Expense
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0065
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0118
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4969
CY2021Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2020Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
4707450
CY2020Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
24.32
CY2020Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
115000000
CY2020Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
75000000
CY2021Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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75000000
CY2021Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
18844614
CY2020Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
18844614
CY2020Q4 us-gaap Treasury Stock Value
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722000000
CY2021Q1 us-gaap Treasury Stock Value
TreasuryStockValue
722000000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-80000000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-16000000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
135746000
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-96000000
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-16000000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-80000000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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278000000
CY2020Q1 trip Adjusted Earnings Before Interest Taxes Depreciation And Amortization
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40000000
CY2020Q1 us-gaap Depreciation And Amortization
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32000000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
26000000
CY2020Q1 us-gaap Restructuring Charges
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9000000
CY2020Q1 us-gaap Operating Income Loss
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-27000000
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-27000000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-11000000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-16000000

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