Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.24.1.u1
Segment Information (Tables)
3 Months Ended
Mar. 31, 2024
Segment Information  
Schedule of disaggregation of revenue

Three months ended

March 31,

2024

    

2023

Major Products/Revenue Sources:

amounts in millions

Brand Tripadvisor

Tripadvisor-branded hotels

$

159

168

Media and advertising

33

30

Tripadvisor experiences and dining

36

33

Other

12

13

Total Brand Tripadvisor

240

244

Viator

141

115

TheFork

41

35

Intersegment eliminations

(27)

(23)

Total Revenue

$

395

371

Schedule of contract balances

March 31, 2024

December 31, 2023

amounts in millions

Accounts receivable

$

223

177

Contract assets

25

15

Total

$

248

192

Schedule of performance measures

Three months ended March 31,

2024

2023

amounts in millions

Brand Tripadvisor

$

78

72

Viator

(27)

(30)

TheFork

(4)

(9)

Corporate and eliminations

(3)

(3)

Consolidated TripCo

$

44

30

Reconciliation of Adjusted OIBDA to operating income and earnings (loss) before income taxes

Three months ended

March 31,

2024

2023

amounts in millions

Adjusted OIBDA

    

$

44

    

30

Stock-based compensation

 

(28)

 

(23)

Depreciation and amortization

 

(22)

 

(21)

Legal reserves and settlements(1)

(10)

Restructuring and other related reorganization costs (2)

(1)

Non-recurring expenses (3)

(1)

(3)

Operating income (loss)

(18)

(17)

Interest expense

 

(17)

 

(16)

Dividend and interest income

13

11

Realized and unrealized gains (losses), net

(44)

(8)

Other, net

 

(3)

 

(1)

Earnings (loss) before income taxes

$

(69)

 

(31)

(1) See discussion in note 8.
(2) During the third quarter of 2023, Tripadvisor initiated a restructuring and reduced global headcount. Tripadvisor expects the majority of remaining unpaid restructuring costs as of March 31, 2024 to be disbursed during 2024.
(3) Tripadvisor expensed $1 million and $3 million of transaction costs during the three months ended March 31, 2024 and 2023, respectively, to selling, general and administrative, including stock-based compensation on the condensed consolidated statement of operations. Tripadvisor considers such costs to be non-recurring in nature.