|
|
 | | | |
- close
- close
- close
- close
These excerpts taken from the EXPE 10-K filed Feb 19, 2009. Definition
of Operating Income Before Amortization
We provide OIBA as a supplemental measure to GAAP operating
income (loss) and net income (loss). We define OIBA as operating
income (loss) plus: (1) stock-based compensation expense,
(2) amortization of intangible assets and goodwill and
intangible asset impairment, if applicable,
(3) amortization of non-cash distribution and marketing
expense and (4) certain one-time items, if applicable.
OIBA is the primary operating metric used by which management
evaluates the performance of our business, on which internal
budgets are based, and by which management is compensated.
Management believes that investors should have access to the
same set of tools that management uses to analyze our results.
This non-GAAP measure should be considered in addition to
results prepared in accordance with GAAP, but should not be
considered a substitute for, or superior to, GAAP. We endeavor
to compensate for the limitation of the non-GAAP measure
presented by also providing the comparable GAAP measure, GAAP
financial statements, and descriptions of the reconciling items
and adjustments, to derive the non-GAAP measure. We present a
reconciliation of this non-GAAP financial measure to GAAP below.
OIBA represents the combined operating results of Expedia,
Inc.’s businesses, taking into account depreciation of
property and equipment (including internal-use software and
website development), which we believe is an ongoing cost of
doing business, but excluding the effects of other non-cash
expenses that may not be indicative of our core business
operations. We believe this performance measure is useful to
investors for the following reasons:
OIBA has certain limitations in that it does not take into
account the impact of certain expenses to our consolidated
statements of operations, including stock-based compensation,
non-cash payments to partners, acquisition-related accounting
and certain one-time items, if applicable.
Definition
of Operating Income Before Amortization
We provide OIBA as a supplemental measure to GAAP operating
income (loss) and net income (loss). We define OIBA as operating
income (loss) plus: (1) stock-based compensation expense,
(2) amortization of intangible assets and goodwill and
intangible asset impairment, if applicable,
(3) amortization of non-cash distribution and marketing
expense and (4) certain one-time items, if applicable.
OIBA is the primary operating metric used by which management
evaluates the performance of our business, on which internal
budgets are based, and by which management is compensated.
Management believes that investors should have access to the
same set of tools that management uses to analyze our results.
This non-GAAP measure should be considered in addition to
results prepared in accordance with GAAP, but should not be
considered a substitute for, or superior to, GAAP. We endeavor
to compensate for the limitation of the non-GAAP measure
presented by also providing the comparable GAAP measure, GAAP
financial statements, and descriptions of the reconciling items
and adjustments, to derive the non-GAAP measure. We present a
reconciliation of this non-GAAP financial measure to GAAP below.
OIBA represents the combined operating results of Expedia,
Inc.’s businesses, taking into account depreciation of
property and equipment (including internal-use software and
website development), which we believe is an ongoing cost of
doing business, but excluding the effects of other non-cash
expenses that may not be indicative of our core business
operations. We believe this performance measure is useful to
investors for the following reasons:
OIBA has certain limitations in that it does not take into
account the impact of certain expenses to our consolidated
statements of operations, including stock-based compensation,
non-cash payments to partners, acquisition-related accounting
and certain one-time items, if applicable.
Definition of Operating Income Before Amortization We provide OIBA as a supplemental measure to GAAP operating income (loss) and net income (loss). We define OIBA as operating income (loss) plus: (1) stock-based compensation expense, (2) amortization of intangible assets and goodwill and intangible asset impairment, if applicable, (3) amortization of non-cash distribution and marketing expense and (4) certain one-time items, if applicable. OIBA is the primary operating metric used by which management evaluates the performance of our business, on which internal budgets are based, and by which management is compensated. Management believes that investors should have access to the same set of tools that management uses to analyze our results. This non-GAAP measure should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP. We endeavor to compensate for the limitation of the non-GAAP measure presented by also providing the comparable GAAP measure, GAAP financial statements, and descriptions of the reconciling items and adjustments, to derive the non-GAAP measure. We present a reconciliation of this non-GAAP financial measure to GAAP below. OIBA represents the combined operating results of Expedia, Inc.’s businesses, taking into account depreciation of property and equipment (including internal-use software and website development), which we believe is an ongoing cost of doing business, but excluding the effects of other non-cash expenses that may not be indicative of our core business operations. We believe this performance measure is useful to investors for the following reasons:
OIBA has certain limitations in that it does not take into account the impact of certain expenses to our consolidated statements of operations, including stock-based compensation, non-cash payments to partners, acquisition-related accounting and certain one-time items, if applicable. Definition of Operating Income Before Amortization We provide OIBA as a supplemental measure to GAAP operating income (loss) and net income (loss). We define OIBA as operating income (loss) plus: (1) stock-based compensation expense, (2) amortization of intangible assets and goodwill and intangible asset impairment, if applicable, (3) amortization of non-cash distribution and marketing expense and (4) certain one-time items, if applicable. OIBA is the primary operating metric used by which management evaluates the performance of our business, on which internal budgets are based, and by which management is compensated. Management believes that investors should have access to the same set of tools that management uses to analyze our results. This non-GAAP measure should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP. We endeavor to compensate for the limitation of the non-GAAP measure presented by also providing the comparable GAAP measure, GAAP financial statements, and descriptions of the reconciling items and adjustments, to derive the non-GAAP measure. We present a reconciliation of this non-GAAP financial measure to GAAP below. OIBA represents the combined operating results of Expedia, Inc.’s businesses, taking into account depreciation of property and equipment (including internal-use software and website development), which we believe is an ongoing cost of doing business, but excluding the effects of other non-cash expenses that may not be indicative of our core business operations. We believe this performance measure is useful to investors for the following reasons:
OIBA has certain limitations in that it does not take into account the impact of certain expenses to our consolidated statements of operations, including stock-based compensation, non-cash payments to partners, acquisition-related accounting and certain one-time items, if applicable. | EXCERPTS ON THIS PAGE:
|
| |||||||
