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Segment and Geographic Information (Tables)
12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Summary of Segment Information

 

 

 

Year ended December 31, 2020

 

 

 

Hotels, Media

& Platform (1)

 

 

Experiences

& Dining

 

 

Other

 

 

Corporate

and

Unallocated

 

 

Total

 

 

 

(in millions)

 

Revenue

 

$

361

 

 

$

186

 

 

$

57

 

 

$

 

 

$

604

 

Adjusted EBITDA

 

 

13

 

 

 

(79

)

 

 

15

 

 

 

 

 

 

(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

)

 

 

 

Year ended December 31, 2019

 

 

 

Hotels, Media

& Platform (1)

 

 

Experiences

& Dining

 

 

Other

 

 

Corporate

and

Unallocated

 

 

Total

 

 

 

(in millions)

 

Revenue

 

$

939

 

 

$

456

 

 

$

165

 

 

$

 

 

$

1,560

 

Adjusted EBITDA

 

 

378

 

 

 

5

 

 

 

55

 

 

 

 

 

 

438

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(126

)

 

 

(126

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(124

)

 

 

(124

)

Restructuring and other related reorganization costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1

)

 

 

(1

)

Operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

187

 

Other income (expense), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7

 

Income (loss) before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

194

 

(Provision) benefit for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(68

)

Net income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

126

 

 

 

 

 

Year ended December 31, 2018

 

 

 

Hotels, Media

& Platform (1)

 

 

Experiences

& Dining

 

 

Other

 

 

Corporate

and

Unallocated

 

 

Total

 

 

 

(in millions)

 

Revenue

 

$

1,001

 

 

$

372

 

 

$

242

 

 

$

 

 

$

1,615

 

Adjusted EBITDA

 

 

329

 

 

 

48

 

 

 

45

 

 

 

 

 

 

422

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(116

)

 

 

(116

)

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(118

)

 

 

(118

)

Legal reserves and settlements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(5

)

 

 

(5

)

Operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

183

 

Other income (expense), net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(10

)

Income (loss) before income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

173

 

(Provision) benefit for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(60

)

Net income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

113

 

 

(1)

Includes allocated corporate general and administrative costs of $70 million, $69 million and $77 million and Tripadvisor-branded advertising expenses (primarily television advertising) of $10 million, $77 million and $122 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Summary of Revenue by Geographic Area

The Company measures its geographic revenue information based on the physical location of the Tripadvisor subsidiary which generates the revenue, which is consistent with our measurement of long-lived physical assets, or property and equipment, net. As such, this geographic classification does not necessarily align with where the consumer resides, where the consumer is physically located while using the Company's services, or the location of the travel service provider, experience operator or restaurant.

 

 

 

Year ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

 

 

(in millions)

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

302

 

 

$

821

 

 

$

835

 

United Kingdom

 

 

169

 

 

 

466

 

 

 

508

 

All other countries

 

 

133

 

 

 

273

 

 

 

272

 

Total revenue

 

$

604

 

 

$

1,560

 

 

$

1,615

 

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,

 

 

 

2020

 

 

2019

 

 

 

(in millions)

 

Property and equipment, net

 

 

 

 

 

 

 

 

United States

 

$

199

 

 

$

227

 

All other countries

 

 

41

 

 

 

43

 

Total

 

$

240

 

 

$

270