Annual report pursuant to Section 13 and 15(d)

Segment Information (Tables)

v3.25.0.1
Segment Information (Tables)
12 Months Ended
Dec. 31, 2024
Segment Information  
Schedule of performance measures

Year ended December 31, 2024

Brand Tripadvisor

Viator

TheFork

Corporate and other

Intersegment Eliminations

Total

amounts in millions

Revenue

$

949

840

181

(135)

1,835

Marketing

251

562

51

(135)

729

Personnel (excluding stock-based compensation)

266

126

83

475

Cost of sales 1

33

80

15

128

Technology

54

25

12

91

General and administrative (excluding stock-based compensation) 1

 

44

14

15

15

88

Adjusted OIBDA

$

301

33

 

5

(15)

 

324

Year ended December 31, 2023

Brand Tripadvisor

Viator

TheFork

Corporate and other

Intersegment Eliminations

Total

amounts in millions

Revenue

$

1,031

737

154

(134)

1,788

Marketing

279

519

41

(134)

705

Personnel (excluding stock-based compensation)

273

110

91

474

Cost of sales

31

79

9

119

Technology

50

18

12

80

General and administrative (excluding stock-based compensation) 1

 

50

11

15

10

86

Adjusted OIBDA

$

348

 

(14)

(10)

 

324

Year ended December 31, 2022

Brand Tripadvisor

Viator

TheFork

Corporate and other

Intersegment Eliminations

Total

amounts in millions

Revenue

$

966

493

126

(93)

1,492

Marketing

260

351

58

(93)

576

Personnel (excluding stock-based compensation)

249

81

85

415

Cost of sales

20

51

7

78

Technology

42

9

12

63

General and administrative (excluding stock-based compensation) 1

 

50

12

3

8

73

Adjusted OIBDA

$

345

(11)

 

(39)

(8)

 

287

1) Excludes certain adjustments to Adjusted OIBDA as detailed below in the reconciliation of Adjusted OIBDA to operating income and earnings (loss) before income taxes.
Schedule of revenue by geographic area

December 31,

 

    

2024

    

2023

    

2022

 

amounts in millions

 

United States

$

1,230

 

1,198

 

905

United Kingdom

 

334

 

349

 

402

Other countries

 

271

 

241

 

185

Consolidated TripCo

$

1,835

 

1,788

 

1,492

Schedule of long-lived assets by geographic area

December 31,

 

    

2024

    

2023

 

amounts in millions

 

United States

$

72

 

82

Other countries

 

12

 

5

Consolidated TripCo

$

84

 

87

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

Years ended December 31,

 

    

2024

    

2023

    

2022

 

amounts in millions

 

Adjusted OIBDA

$

324

 

324

 

287

Stock-based compensation

 

(121)

 

(99)

 

(93)

Depreciation and amortization

 

(85)

 

(87)

 

(97)

Impairment of goodwill and intangible assets

 

(663)

 

(1,025)

 

Restructuring and related reorganization costs (1)

(21)

(22)

Transaction related expenses (2)

(3)

(3)

Other non-recurring expenses (3)

(8)

Legal reserves and settlements (4)

(18)

(1)

Operating income (loss)

(587)

(912)

88

Interest expense

 

(71)

 

(67)

 

(65)

Dividend and interest income

50

49

16

Realized and unrealized gains (losses) on financial instruments, net

5

(32)

62

Other, net

 

(9)

 

(5)

 

(8)

Earnings (loss) before income taxes

$

(612)

 

(967)

 

93

(1) During the fourth quarter of 2024 and the third quarter of 2023, Tripadvisor initiated a set of actions across its businesses in order to reduce its cost structure, improve operational efficiencies, and realign its workforce with its strategic initiatives. See further details in note 12.
(2) Tripadvisor expensed certain transaction related costs of $3 million during both of the years ended December 31, 2024 and 2023, to general and administrative expenses on the consolidated statement of operations.
(3) Tripadvisor incurred a loss of approximately $8 million during the fourth quarter of 2022, as the result of external fraud, which was recorded to general and administrative expense on the consolidated statement of operations during the year ended December 31, 2022. Tripadvisor considers such costs to be non-recurring in nature.
(4) This amount primarily includes an estimated accrual for the potential settlement of a regulatory related matter of $10 million, expensed during 2024 (see discussion in note 12), as well as $5 million related to legal settlements that are reflected in general and administrative expenses on the consolidated statement of operations.  During the year ended December 31, 2024 Tripadvisor recorded a one-time charge of $3 million resulting from legislation enacted in Canada during June 2024 related to digital services taxes, which requires retrospective application back to January 1, 2022. This amount represents the one-time retrospective liability for the periods prior to April 1, 2024, while any liability subsequent to April 1, 2024 is included within Adjusted OIBDA. This cost is reflected in cost of sales on the consolidated statement of operations.