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Segment Information (Tables)
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Summary of Segment Information The elimination of such intersegment transactions is included within the “Corporate & Eliminations” column in the tables below.

 

 

Three months ended March 31, 2024

 

 

 

 

 

 

Brand Tripadvisor (1)

 

 

Viator (2)

 

 

TheFork (3)

 

 

Corporate &
Eliminations

 

 

Total

 

 

 

(in millions)

 

External revenue

 

$

213

 

 

$

141

 

 

$

41

 

 

$

—

 

 

$

395

 

Intersegment revenue

 

 

27

 

 

 

—

 

 

 

—

 

 

 

(27

)

 

 

—

 

  Total Revenue

 

$

240

 

 

$

141

 

 

$

41

 

 

$

(27

)

 

$

395

 

Adjusted EBITDA

 

 

78

 

 

 

(27

)

 

 

(4

)

 

 

—

 

 

 

47

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

(22

)

 

 

(22

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

(28

)

 

 

(28

)

Legal reserves and settlements (4)

 

 

 

 

 

 

 

 

 

 

 

(10

)

 

 

(10

)

Restructuring and other related reorganization costs

 

 

 

 

 

 

 

 

(1

)

 

 

 

 

 

(1

)

Non-recurring income (expense) (5)

 

 

 

 

 

 

 

 

 

 

 

(1

)

 

 

(1

)

Operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(15

)

Other income (expense), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1

)

Income (loss) before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(16

)

(Provision) benefit for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(43

)

Net income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(59

)

 

 

 

Three months ended March 31, 2023

 

 

 

 

 

 

Brand Tripadvisor (1)

 

 

Viator (2)

 

 

TheFork (3)

 

 

Corporate &
Eliminations

 

 

Total

 

 

 

(in millions)

 

External revenue

 

$

221

 

 

$

115

 

 

$

35

 

 

$

—

 

 

$

371

 

Intersegment revenue

 

 

23

 

 

 

—

 

 

 

—

 

 

 

(23

)

 

 

—

 

  Total Revenue

 

$

244

 

 

$

115

 

 

$

35

 

 

$

(23

)

 

$

371

 

Adjusted EBITDA

 

 

72

 

 

 

(30

)

 

 

(9

)

 

 

—

 

 

 

33

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

(21

)

 

 

(21

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

(23

)

 

 

(23

)

Non-recurring income (expense) (6)

 

 

 

 

 

 

 

 

 

 

 

(3

)

 

 

(3

)

Operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(14

)

Other income (expense), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1

)

Income (loss) before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(15

)

(Provision) benefit for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(58

)

Net income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(73

)
(1)
Corporate general and administrative personnel costs of $2 million for both the three months ended March 31, 2024 and 2023, were allocated to the Viator and TheFork segments.
(2)
Includes allocated corporate general and administrative personnel costs from the Brand Tripadvisor segment of $1 million in each of the three months ended March 31, 2024 and 2023.
(3)
Includes allocated corporate general and administrative personnel costs from the Brand Tripadvisor segment of $1 million in each of the three months ended March 31, 2024 and 2023.
(4)
Represents an estimated accrual for the potential settlement of a regulatory related matter of $10 million, expensed during the first quarter of 2024 to general and administrative expenses on our unaudited condensed consolidated statement of operations. Refer to “Note 9: Commitments and Contingencies” for further information.
(5)
The Company expensed certain transaction costs of $1 million during the first quarter of 2024 to general and administrative expenses on our unaudited condensed consolidated statement of operations. The Company considers such costs to be non-recurring in nature.
(6)
The Company expensed $3 million of previously capitalized transaction costs during the first quarter of 2023 to general and administrative expenses on our unaudited condensed consolidated statement of operations. The Company considers such costs to be non-recurring in nature.