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Segment and Geographic Information (Tables)
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Summary of Segment Information The elimination of such intersegment transactions is included within Corporate and Eliminations in the table below.

 

 

 

Year ended December 31, 2022

 

 

 

Tripadvisor Core (1)

 

 

Viator (2)

 

 

TheFork (3)

 

 

Corporate &
Eliminations

 

 

Total

 

 

 

(in millions)

 

External revenue

 

$

873

 

 

$

493

 

 

$

126

 

 

$

—

 

 

$

1,492

 

Intersegment revenue

 

 

93

 

 

 

—

 

 

 

—

 

 

 

(93

)

 

 

—

 

Total Revenue

 

$

966

 

 

$

493

 

 

$

126

 

 

$

(93

)

 

$

1,492

 

Adjusted EBITDA

 

 

345

 

 

 

(11

)

 

 

(39

)

 

 

—

 

 

 

295

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

(97

)

 

 

(97

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

(88

)

 

 

(88

)

Legal reserves and settlements

 

 

 

 

 

 

 

 

 

 

 

(1

)

 

 

(1

)

Non-recurring expenses (income) (4)

 

 

 

 

 

 

 

 

 

 

 

(8

)

 

 

(8

)

Operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

101

 

Other income (expense), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(34

)

Income (loss) before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

67

 

(Provision) benefit for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(47

)

Net income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

20

 

 

 

 

Year ended December 31, 2021

 

 

 

Tripadvisor Core (1)

 

 

Viator (2)

 

 

TheFork (3)

 

 

Corporate &
Eliminations

 

 

Total

 

 

 

(in millions)

 

External revenue

 

$

633

 

 

$

184

 

 

$

85

 

 

$

—

 

 

$

902

 

Intersegment revenue

 

 

32

 

 

 

—

 

 

 

—

 

 

 

(32

)

 

 

—

 

Total Revenue

 

$

665

 

 

$

184

 

 

$

85

 

 

$

(32

)

 

$

902

 

Adjusted EBITDA

 

 

177

 

 

 

(31

)

 

 

(46

)

 

 

—

 

 

 

100

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

(111

)

 

 

(111

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

(120

)

 

 

(120

)

Operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(131

)

Other income (expense), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(54

)

Income (loss) before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(185

)

(Provision) benefit for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

37

 

Net income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(148

)

 

 

 

Year ended December 31, 2020

 

 

 

Tripadvisor Core (1)

 

 

Viator (2)

 

 

TheFork (3)

 

 

Corporate &
Eliminations

 

 

Total

 

 

 

(in millions)

 

External revenue

 

$

463

 

 

$

55

 

 

$

86

 

 

$

—

 

 

$

604

 

Intersegment revenue

 

 

20

 

 

 

—

 

 

 

—

 

 

 

(20

)

 

 

—

 

Total Revenue

 

$

483

 

 

$

55

 

 

$

86

 

 

$

(20

)

 

$

604

 

Adjusted EBITDA

 

 

64

 

 

 

(72

)

 

 

(43

)

 

 

—

 

 

 

(51

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

(125

)

 

 

(125

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

(109

)

 

 

(109

)

Restructuring and other related reorganization costs

 

 

 

 

 

 

 

 

 

 

 

(41

)

 

 

(41

)

Impairment of goodwill

 

 

 

 

 

 

 

 

 

 

 

(3

)

 

 

(3

)

Operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(329

)

Other income (expense), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(40

)

Income (loss) before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(369

)

(Provision) benefit for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

80

 

Net income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(289

)

 

(1)
Corporate general and administrative personnel costs of $5 million, $6 million and $4 million for the years ended December 31, 2022, 2021 and 2020, respectively, were allocated to the Viator and TheFork segments.
(2)
Includes allocated corporate general and administrative personnel costs from our Tripadvisor Core segment of $2 million, $3 million and $2 million for the years ended December 31, 2022, 2021 and 2020, respectively.
(3)
Includes allocated corporate general and administrative personnel costs from our Tripadvisor Core segment of $3 million, $3 million and $2 million for the years ended December 31, 2022, 2021 and 2020, respectively.
(4)
The Company incurred a loss of approximately $8 million during the fourth quarter of 2022, as the result of external fraud. This loss was recorded to general and administrative expenses on the consolidated statement of operations for December 31, 2022. The Company considers such costs to be non-recurring in nature. To the extent the Company recovers any losses in future periods related to this incident, the Company plans to reduce Adjusted EBITDA by the recovery amount in that same period.
Summary of Revenue by Geographic Location

The Company’s revenue based on geographic location consists of the following for the periods presented:

 

 

Year ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

 

 

(in millions)

 

Revenue

 

 

 

 

 

 

 

 

 

United States

 

$

905

 

 

$

526

 

 

$

302

 

United Kingdom

 

 

402

 

 

 

259

 

 

 

169

 

All other countries

 

 

185

 

 

 

117

 

 

 

133

 

Total revenue

 

$

1,492

 

 

$

902

 

 

$

604

 

 
Property and Equipment, Net

The Company’s property and equipment, net for the United States and all other countries based on the geographic location of the assets consists of the following for the periods presented:

 

 

 

December 31,

 

 

 

2022

 

 

2021

 

 

 

(in millions)

 

Property and equipment, net

 

 

 

 

 

 

United States

 

$

156

 

 

$

178

 

All other countries

 

 

38

 

 

 

37

 

Total

 

$

194

 

 

$

215