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Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2023

The elimination of such intersegment transactions is included within the “Corporate & Eliminations” column in the tables below.


	Year ended December 31, 2023
	Brand Tripadvisor (1)			Viator (2)			TheFork (3)			Corporate & Eliminations			Total
	(in millions)
External revenue	$	897		$	737		$	154		$	—		$	1,788
Intersegment revenue		134			—			—			(134	)		—
Total Revenue	$	1,031		$	737		$	154		$	(134	)	$	1,788
Adjusted EBITDA		348			—			(14	)		—			334
Depreciation and amortization											(87	)		(87	)
Stock-based compensation											(96	)		(96	)
Restructuring and other related reorganization costs (4)		(10	)		(3	)		(9	)		—			(22	)
Other non-recurring expenses (income) (5)											(3	)		(3	)
Operating income (loss)														126
Other income (expense), net														(1	)
Income (loss) before income taxes														125
(Provision) benefit for income taxes														(115	)
Net income (loss)														10


	Year ended December 31, 2022
	Brand Tripadvisor (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	)
Other non-recurring expenses (income) (6)										(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
	Brand Tripadvisor (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	)

(1)

Corporate general and administrative personnel costs of $6 million, $5 million and $6 million for the years ended December 31, 2023, 2022 and 2021, respectively, were allocated to the Viator and TheFork segments.

(2)

Includes allocated corporate general and administrative personnel costs from our Brand Tripadvisor segment of $3 million, $2 million and $3 million for the years ended December 31, 2023, 2022 and 2021, respectively.

(3)

Includes allocated corporate general and administrative personnel costs from our Brand Tripadvisor segment of $3 million, $3 million and $3 million for the years ended December 31, 2023, 2022 and 2021, respectively.

(4)

Refer to “Note 7: Accrued Expenses and Other Current Liabilities” for information regarding restructuring and other related reorganization costs.

(5)

The Company expensed $3 million of previously capitalized transaction costs during 2023, to general and administrative expenses on our consolidated statement of operations. The Company considers such costs to be non-recurring in nature.

(6)

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,
	2023		2022		2021
	(in millions)
Revenue
United States	$	1,198	$	905	$	526
United Kingdom		349		402		259
All other countries		241		185		117
Total revenue	$	1,788	$	1,492	$	902

Disaggregated Revenue to Products and Revenue

We disaggregate revenue into major products and revenue sources, as follows, for the periods presented:


	Year ended December 31,
	2023			2022			2021
Major products/revenue sources (1):	(in millions)
Brand Tripadvisor
Tripadvisor-branded hotels	$	659		$	650		$	451
Media and advertising		145			130			98
Tripadvisor experiences and dining (2)		176			134			70
Other		51			52			46
Total Brand Tripadvisor		1,031			966			665

Viator		737			493			184
TheFork		154			126			85
Intersegment eliminations (2)		(134	)		(93	)		(32	)
Total Revenue	$	1,788		$	1,492		$	902

(1)

Our revenue is recognized primarily at a point in time for all reported segments.

(2)

Tripadvisor experiences and dining revenue within the Brand Tripadvisor segment is shown gross of intersegment (intercompany) revenue, which is eliminated on a consolidated basis.

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 as of the dates presented:


	December 31,
	2023		2022
	(in millions)
Property and equipment, net
United States	$	147	$	156
All other countries		44		38
Total	$	191	$	194