Last10K.com

Expedia, Inc. (EXPE) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Expedia Group, Inc.

CIK: 1324424 Ticker: EXPE

Exhibit 99.1

 

LOGO

Expedia, Inc. Reports Fourth Quarter and Full Year 2012 Results

BELLEVUE, Wash.—February 5, 2013—Expedia, Inc. (NASDAQ: EXPE) today announced financial results for the fourth quarter and year ended December 31, 2012.

 

   

Room nights grew a record 33% year-over-year driven by a second, consecutive quarter of acceleration across Europe, Asia-Pacific and the Americas. Domestic room nights increased 19% year-over-year representing the fastest growth rate in two years.

 

   

Revenue growth accelerated throughout 2012 reaching 24% year-over-year by the fourth quarter of 2012; almost double the rate of growth for the first quarter 2012.

 

   

Driven by strong top line performance, Adjusted EBITDA* increased 14% year-over-year as compared to fourth quarter 2011.

 

   

For the year, Expedia, Inc. allocated nearly $730 million to share repurchases, acquisitions and dividends, including payment of a special dividend of $0.52 per common share in December 2012.

 

   

As previously announced, Expedia, Inc. entered into a definitive agreement to acquire a fully-diluted 61.6% stake in trivago, a leading hotel metasearch company based in Dusseldorf, Germany, for approximately US$647 million using exchange rates as of January 31, 2013. Expedia expects the transaction to close during the first half of 2013.

Financial Summary & Operating Metrics (figures in $MMs except per share amounts)

 

Metric

   Quarter
Ended
12.31.12
    Quarter
Ended
12.31.11
    Y / Y
Growth
    Year
Ended
12.31.12
    Year
Ended
12.31.11
    Y / Y
Growth
 

Room night growth

     33     19     1423 bps        27     18     847 bps   

Gross bookings

     7,525.8        6,309.8        19     33,959.4        29,181.4        16

Revenue

     974.9        787.1        24     4,030.3        3,449.0        17

Adjusted EBITDA*

     184.6        162.1        14     802.9        710.8        13

Operating income ^

     1.5        91.6        (98 %)      431.7        479.6        (10 %) 

Adjusted net income *

     88.9        80.6        10     438.5        384.5        14

Income from continuing operations ^

     6.9        59.7        (88 %)      302.7        324.1        (7 %) 

Adjusted EPS *

   $ 0.63      $ 0.58        9   $ 3.10      $ 2.75        13

Diluted EPS from continuing operations ^

   $ 0.05      $ 0.44        (89 %)    $ 2.16      $ 2.34        (8 %) 

Free cash flow *

     (275.4     (242.9     (13 %)      1,001.5        617.9        62

 

* “Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization,” “Adjusted net income,” “Adjusted EPS” and “Free cash flow” are non-GAAP measures as defined by the Securities and Exchange Commission (the “SEC”). Please see “Definitions of Non-GAAP Measures” and “Tabular Reconciliations for Non-GAAP Measures” on pages 11-14 herein for an explanation of non-GAAP measures used throughout this release. The definition for adjusted net income was revised in the fourth quarters of 2010, 2011 and 2012 and the definition for adjusted earnings before interest, taxes, depreciation and amortization was revised in the fourth quarter of 2012.
^ GAAP operating results include a $110 million charge related to an unfavorable Hawaii tax court ruling. We believe that we will likely be required to pay this amount to appeal. See additional detail on page 4 of this press release and in our SEC filings.

Please refer to the Glossary in the Financial Information section on Expedia’s corporate website for definitions of the business and financial terms discussed within this release.

 

1 of 16


The following information was filed by Expedia Group, Inc. (EXPE) on Tuesday, February 5, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Expedia Group, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Expedia Group, Inc..

Continue

Assess how Expedia Group, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Expedia Group, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2013 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Changes In Stockholders' Equity (parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Operations (parenthetical)
Acquisitions
Acquisitions (tables)
Acquisitions - Additional Information (detail)
Basic And Diluted Earnings Per Share (detail)
Changes In Goodwill By Reportable Segment (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Components Of Deferred Tax Assets And Deferred Tax Liabilities (detail)
Components Of Income Tax Expense Attributable To Continuing Operations (detail)
Components Of Intangible Assets With Definite Lives (detail)
Components Of Property And Equipment Net (detail)
Debt
Debt (tables)
Debt - Additional Information (detail)
Discontinued Operations
Discontinued Operations (tables)
Discontinued Operations - Additional Information (detail)
Domestic And Foreign Income Loss From Continuing Operations Before Income Taxes (detail)
Earnings Per Share
Earnings Per Share (tables)
Earnings Per Share - Additional Information (detail)
Effects Of Changes In Noncontrolling Interest (detail)
Effects Of Changes In Noncontrolling Interest (parenthetical) (detail)
Employee Benefit Plans
Employee Benefit Plans - Additional Information (detail)
Estimated Future Amortization Expense Related To Intangible Assets (detail)
Estimated Future Minimum Rental Payments Under Operating Leases (detail)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Additional Information (detail)
Financial Assets And Liabilities Measured At Fair Value On Recurring Basis (detail)
Goodwill And Intangible Assets Net - Additional Information (detail)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (tables)
Guarantor And Non-guarantor Supplemental Financial Information
Guarantor And Non-guarantor Supplemental Financial Information (tables)
Income Tax Reconciliation Of Beginning And Ending Amount Of Gross Unrecognized Tax Benefits (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Long Term Debt Outstanding (detail)
Organization And Basis Of Presentation
Other Comprehensive Income Loss Net Of Taxes (detail)
Other Income (expense)
Other Income (expense) (tables)
Other Income Expense (detail)
Property And Equipment Net - Additional Information (detail)
Property And Equipment, Net
Property And Equipment, Net (tables)
Quarterly Financial Information (unaudited)
Quarterly Financial Information (unaudited) (tables)
Related Party Transactions
Related Party Transactions - Additional Information (detail)
Schedule Of Balance Sheet Information (detail)
Schedule Of Cash Flow Statement Information (detail)
Schedule Of Commitments And Obligations (detail)
Schedule Of Goodwill And Intangible Assets (detail)
Schedule Of Property And Equipment By Geographic Area (detail)
Schedule Of Quarterly Financial Information (detail)
Schedule Of Quarterly Financial Information (parenthetical) (detail)
Schedule Of Revenue And Income For Discontinued Operations (detail)
Schedule Of Revenue By Geographic Area (detail)
Schedule Of Statement Of Operations Information (detail)
Schedule Of Statutory Federal Income Tax Rate To Income From Continuing Operations Before Income Taxes (detail)
Segment Information
Segment Information (detail)
Segment Information (tables)
Segment Information - Additional Information (detail)
Shares Repurchased (detail)
Shares Repurchased (parenthetical) (detail)
Significant Accounting Policies
Significant Accounting Policies (policies)
Significant Accounting Policies - Additional Information (detail)
Spin Off Adjustment Details (detail)
Stock Based Awards And Other Equity Instruments - Additional Information (detail)
Stock-based Awards And Other Equity Instruments
Stock-based Awards And Other Equity Instruments (tables)
Stockholders Equity - Additional Information (detail)
Stockholders' Equity
Stockholders' Equity (tables)
Summary Of Changes In Valuation And Qualifying Accounts (detail)
Summary Of Dividends Declared (detail)
Summary Of Fair Value Of Assets Acquired And Liabilities Assumed In Conjunction With Acquisition (detail)
Summary Of Fair Value Of Assets Acquired And Liabilities Assumed In Conjunction With Acquisition (parenthetical) (detail)
Summary Of Restricted Stock Units Activity (detail)
Summary Of Stock Option Activity (detail)
Summary Of Stock Options Outstanding And Exercisable (detail)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (tables)
Weighted Average Assumptions Of Black-scholes Option-pricing Model (detail)
Ticker: EXPE
CIK: 1324424
Form Type: 10-K Annual Report
Accession Number: 0001193125-13-039072
Submitted to the SEC: Tue Feb 05 2013 6:08:55 PM EST
Accepted by the SEC: Wed Feb 06 2013
Period: Monday, December 31, 2012
Industry: Transportation Services

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/expe/0001193125-13-039072.htm