$TRIP
TripAdvisor, Inc.

2021 Q2 Form 10-Q Financial Statement

#000156459021041583 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $235.0M $59.00M $278.0M
YoY Change 298.31% -86.02% -26.06%
Cost Of Revenue $19.00M $10.00M $19.00M
YoY Change 90.0% -62.96% -9.52%
Gross Profit $216.0M $49.00M $259.0M
YoY Change 340.82% -87.59% -27.04%
Gross Profit Margin 91.91% 83.05% 93.17%
Selling, General & Admin $169.0M $148.0M $181.0M
YoY Change 14.19% -50.5% -17.73%
% of Gross Profit 78.24% 302.04% 69.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $28.00M $39.00M $25.00M
YoY Change -28.21% 69.57% 8.7%
% of Gross Profit 12.96% 79.59% 9.65%
Operating Expenses $169.0M $180.0M $181.0M
YoY Change -6.11% -45.29% -17.73%
Operating Profit -$35.00M -$164.0M -$27.00M
YoY Change -78.66% -348.48% -187.1%
Interest Expense $11.00M $7.000M -$1.000M
YoY Change 57.14% 250.0% -150.0%
% of Operating Profit
Other Income/Expense, Net -$11.00M -$15.00M
YoY Change -26.67% -850.0%
Pretax Income -$46.00M -$179.0M -$27.00M
YoY Change -74.3% -363.24% -181.82%
Income Tax -$6.000M -$26.00M -$11.00M
% Of Pretax Income
Net Earnings -$40.00M -$153.0M -$16.00M
YoY Change -73.86% -550.0% -161.54%
Net Earnings / Revenue -17.02% -259.32% -5.76%
Basic Earnings Per Share -$0.29 -$1.14 -$0.12
Diluted Earnings Per Share -$0.29 -$1.14 -$0.12
COMMON SHARES
Basic Shares Outstanding 137.1M 134.2M 136.2M
Diluted Shares Outstanding 137.1M 134.2M 136.2M

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $775.0M $698.0M $798.0M
YoY Change 11.03% -27.74% -1.6%
Cash & Equivalents $775.0M $698.0M $798.0M
Short-Term Investments
Other Short-Term Assets $25.00M $26.00M $29.00M
YoY Change -3.85% -25.71% -17.14%
Inventory
Prepaid Expenses
Receivables $114.0M $69.00M $154.0M
Other Receivables $47.00M $55.00M $26.00M
Total Short-Term Assets $1.006B $853.0M $1.012B
YoY Change 17.94% -32.89% -6.47%
LONG-TERM ASSETS
Property, Plant & Equipment $271.0M $259.0M $268.0M
YoY Change 4.63% -1.15% 4.28%
Goodwill $837.0M $826.0M
YoY Change 11.01%
Intangibles $95.00M $101.0M
YoY Change -6.86%
Long-Term Investments $38.00M $41.00M $54.00M
YoY Change -7.32%
Other Assets $143.0M $95.00M $92.00M
YoY Change 50.53% -5.94% -8.0%
Total Long-Term Assets $1.381B $1.396B $1.415B
YoY Change -1.07% 7.8% 7.77%
TOTAL ASSETS
Total Short-Term Assets $1.006B $853.0M $1.012B
Total Long-Term Assets $1.381B $1.396B $1.415B
Total Assets $2.387B $2.249B $2.427B
YoY Change 6.14% -12.35% 1.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $188.0M $13.00M $34.00M
YoY Change 1346.15% 0.0% -87.59%
Accrued Expenses $207.0M $141.0M $146.0M
YoY Change 46.81% -22.1% -2.67%
Deferred Revenue $38.00M $62.00M
YoY Change -61.22% -1.59%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $6.000M $5.000M $5.000M
YoY Change 20.0% 0.0% 0.0%
Total Short-Term Liabilities $444.0M $249.0M $311.0M
YoY Change 78.31% -60.97% -41.32%
LONG-TERM LIABILITIES
Long-Term Debt $900.0M $700.0M $700.0M
YoY Change 28.57% 775.0% 753.66%
Other Long-Term Liabilities $225.0M $375.0M $373.0M
YoY Change -40.0% 9.97% 46.85%
Total Long-Term Liabilities $225.0M $1.075B $1.073B
YoY Change -79.07% 215.25% 219.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $444.0M $249.0M $311.0M
Total Long-Term Liabilities $225.0M $1.075B $1.073B
Total Liabilities $1.608B $1.337B $1.400B
YoY Change 20.27% 34.91% 57.66%
SHAREHOLDERS EQUITY
Retained Earnings $269.0M $509.0M $662.0M
YoY Change -47.15% -53.98% -38.25%
Common Stock $1.275B $1.193B $1.167B
YoY Change 6.87% 10.36% 11.57%
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 $18.82M
Shareholders Equity $779.0M $912.0M $1.027B
YoY Change
Total Liabilities & Shareholders Equity $2.387B $2.249B $2.427B
YoY Change 6.14% -12.35% 1.34%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income -$40.00M -$153.0M -$16.00M
YoY Change -73.86% -550.0% -161.54%
Depreciation, Depletion And Amortization $28.00M $39.00M $25.00M
YoY Change -28.21% 69.57% 8.7%
Cash From Operating Activities $125.0M -$78.00M -$70.00M
YoY Change -260.26% -143.09% -138.46%
INVESTING ACTIVITIES
Capital Expenditures -$15.00M -$16.00M $20.00M
YoY Change -6.25% -23.81% 17.65%
Acquisitions
YoY Change
Other Investing Activities -$1.000M $2.000M $0.00
YoY Change -150.0% -108.33% -100.0%
Cash From Investing Activities -$16.00M -$14.00M -$20.00M
YoY Change 14.29% -68.89% -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 -6.000M -9.000M 570.0M
YoY Change -33.33% 125.0% -2475.0%
NET CHANGE
Cash From Operating Activities 125.0M -78.00M -70.00M
Cash From Investing Activities -16.00M -14.00M -20.00M
Cash From Financing Activities -6.000M -9.000M 570.0M
Net Change In Cash 103.0M -101.0M 479.0M
YoY Change -201.98% -176.52% 312.93%
FREE CASH FLOW
Cash From Operating Activities $125.0M -$78.00M -$70.00M
Capital Expenditures -$15.00M -$16.00M $20.00M
Free Cash Flow $140.0M -$62.00M -$90.00M
YoY Change -325.81% -130.69% -154.55%

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<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-top:6pt;margin-bottom:0pt;text-indent:3.4%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.</p>
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q2 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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CY2020Q2 us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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us-gaap Number Of Reportable Segments
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CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2021Q2 trip Adjusted Earnings Before Interest Taxes Depreciation And Amortization
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CY2021Q2 us-gaap Depreciation And Amortization
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