Spreadsheet: c6546aa6-60be-467e-ad1b-b958ce5798bf
Sheet: Sheet1

Unnamed: 0 | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | Unnamed: 5 | Unnamed: 6 | Unnamed: 7 | Unnamed: 8 | Unnamed: 9 | Unnamed: 10 | Unnamed: 11 | Unnamed: 12 | Unnamed: 13 | Unnamed: 14 | Unnamed: 15 | Unnamed: 16 | Unnamed: 17 | Unnamed: 18
 | TripAdvisor, Inc.
 | Supplemental Financial Information
 |  |  |  |  |  |  |  | 2010 |  |  |  |  | 2011 |  |  |  |  | 2012
 | (in thousands) |  |  |  |  | FY 2008 | FY 2009 | Q1 | Q2 | Q3 | Q4 | FY 2010 | Q1 | Q2 | Q3 | Q4 | FY 2011 | Q1
 |  | Revenue |  |  |  | 200578 | 212375 | 71501 | 82422 | 89761 | 69841 | 313525 | 95278 | 110043 | 120384 | 100340 | 426045 | 132127
 |  | Related-party revenue from Expedia |  |  |  | 97668 | 139714 | 42081 | 42987 | 49558 | 36484 | 171110 | 53944 | 59199 | 60417 | 37458 | 211018 | 51588
 | Total Revenue |  |  |  |  | 298246 | 352089 | 113582 | 125409 | 139319 | 106325 | 484635 | 149222 | 169242 | 180801 | 137798 | 637063 | 183715
 |  |  | year-over-year growth |  |  |  | 0.1805321781348284 | 0.33 | 0.39 | 0.44 | 0.35 | 0.3764559528982729 | 0.313782113363033 | 0.3495203693514819 | 0.2977483329624817 | 0.3 | 0.31 | 0.2311522429668547
 | GAAP  Cost of Revenue |  |  |  |  | 2414 | 4569 | 1547 | 1735 | 2056 | 2007 | 7345 | 2231 | 2735 | 3227 | 2680 | 10873 | 2734
 | % of total revenue |  |  |  |  | 0.00809398952542532 | 0.01297683256222148 | 0.01362011586342906 | 0.01383473275442751 | 0.01475749897716751 | 0.01887608746766988 | 0.01515521695705536 | 0.01495087855678117 | 0.01616029118067619 | 0.0178483526086692 | 0.0178483526086692 | 0.0178483526086692 | 0.01488174618294641
 | GAAP  Selling and marketing |  |  |  |  | 98291 | 105679 | 30921 | 31392 | 42446 | 35711 | 140470 | 44195 | 52685 | 60349 | 51947 | 209176 | 67389
 |  | Stock based compensation |  |  |  | 1669 | 1885 | 655 | 434 | 506 | 506 | 2101 | 805 | 589 | 568 | 1254 | 3216 | 1078
 | Non-GAAP  Selling and marketing |  |  |  |  | 96622 | 103794 | 30266 | 30958 | 41940 | 35205 | 138369 | 43390 | 52096 | 59781 | 50693 | 205960 | 66311
 | % of total revenue |  |  |  |  | 0.3239674631009301 | 0.2947947820011417 | 0.2664682784243982 | 0.2468562862314507 | 0.3010285747098386 | 0.3311074535621914 | 0.2898470325367482 | 0.2907748187264613 | 0.3078195719738599 | 0.3306452951034563 | 0.37 | 0.32 | 0.360944941893694
 | GAAP Technology and content |  |  |  |  | 26047 | 29331 | 9438 | 10569 | 10803 | 12511 | 43321 | 13089 | 13379 | 14748 | 16232 | 57448 | 17841
 |  | Stock based compensation |  |  |  | 2784 | 2276 | 777 | 601 | 641 | 642 | 2661 | 888 | 639 | 750 | 1655 | 3931 | 1512
 | Non-GAAP Technology and content |  |  |  |  | 23263 | 27055 | 8661 | 9968 | 10162 | 11869 | 40660 | 12201 | 12740 | 13998 | 14577 | 53517 | 16329
 | % of total revenue |  |  |  |  | 0.07799936964787457 | 0.07684136681350454 | 0.07625327956894579 | 0.07948392858566769 | 0.07294051780446315 | 0.1116294380437338 | 0.08389819142241069 | 0.08176408304405516 | 0.07527682253814065 | 0.07742213815189075 | 0.1057925369018418 | 0.08400582046045682 | 0.08888223607217702
 | GAAP  General and adminstrative |  |  |  |  | 22108 | 14286 | 4277 | 8208 | 9437 | 9897 | 31819 | 8194 | 7944 | 9194 | 19438 | 44770 | 16254
 | Related-party shared services fee (1) |  |  |  |  | 8320 | 6910 | 1975 | 1975 | 1975 | 1975 | 7900 | 1980 | 1980 | 1980 | 3282 | 9222 | 0
 |  | Stock based compensation |  |  |  | 1107 | 1744 | 735 | 519 | 583 | 584 | 2421 | 781 | 740 | 719 | 7957 | 10197 | 2102
 | Non-GAAP  General and adminstrative |  |  |  |  | 29321 | 19452 | 5517 | 9664 | 10829 | 11288 | 37298 | 9393 | 9184 | 10455 | 14763 | 43795 | 14152
 | % of total revenue |  |  |  |  | 0.09831146100869752 | 0.05524739483482869 | 0.04857283724533817 | 0.07705986013762968 | 0.07773526941766737 | 0.1061650599576769 | 0.07696101189555025 | 0.06294648242216296 | 0.05426548965386842 | 0.05782600759951549 | 0.107135081786383 | 0.07 | 0.07703235990528808
 | Depreciation |  |  |  |  | 5022 | 9330 | 2589 | 3089 | 3425 | 3768 | 12871 | 4102 | 4514 | 4630 | 5116 | 18362 | 4281
 | % of total revenue |  |  |  |  | 0.01683844879730156 | 0.02649898179153566 | 0.02279410469968833 | 0.02463140603943896 | 0.02458386867548576 | 0.03543851399012462 | 0.02655813137722203 | 0.02748924421331975 | 0.02667186632159866 | 0.02560826544100973 | 0.03712680880709444 | 0.02882289506689291 | 0.02330239773562311
 | Amortization of Intangibles |  |  |  |  | 11161 | 13806 | 3378 | 2864 | 2577 | 5790 | 14609 | 2117 | 1132 | 2394 | 1880 | 7523 | 1839
 | % of total revenue |  |  |  |  | 0.03742212804195195 | 0.03921167659313412 | 0.0297406279163952 | 0.02283727643151608 | 0.01849711812459176 | 0.05445567834469786 | 0.03014414108910443 | 0.01418691613837102 | 0.006688647026151901 | 0.01324107720643138 | 0.01324107720643138 | 0.01324107720643138 | 0.0100100699452957
 | Other operating expense (Spin-off costs) |  |  |  |  | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1054 | 2210.793 | 3667 | 6932 | 0
 | Total costs and expenses |  |  |  |  | 173363 | 183911 | 54125 | 59832 | 72719 | 71659 | 258335 | 75908 | 85423 | 98732.793 | 104242 | 364306 | 110338
 | GAAP Operating income |  |  |  |  | 124883 | 168178 | 59457 | 65577 | 66600 | 34666 | 226300 | 73314 | 83819 | 82068.207 | 33556 | 272757 | 73377
 | Other income (expense):
 |  | Related-party and other interest income (expense), net |  |  |  | -4035 | -978 | -78 | -70 | -56 | -37 | -241 | 98 | 217 | 212 | -136 | 391 | -2932
 |  | Other, net |  |  |  | -1738 | -660 | -1315 | -1359 | 1634 | -604 | -1644 | 965 | 457 | -2802 | 126 | -1254 | 696
 | Total other income (expense), net |  |  |  |  | -5773 | -1638 | -1393 | -1429 | 1578 | -641 | -1885 | 1063 | 674 | -2590 | -10 | -863 | -2236
 | Income before income taxes |  |  |  |  | 119110 | 166540 | 58064 | 64148 | 68178 | 34025 | 224415 | 74377 | 84493 | 79478.207 | 33546 | 271894 | 71141
 | Provision for income taxes |  |  |  |  | 46788 | 64325 | 20650 | 24073 | 25239 | 15499 | 85461 | 27006 | 30383 | 25185 | 11529 | 94103 | 22970
 | GAAP Net income |  |  |  |  | 72322 | 102215 | 37414 | 40075 | 42939 | 18526 | 138954 | 47371 | 54110 | 54293.20699999999 | 22017 | 177791 | 48171
 | GAAP Net (income) loss attributable to noncontrolling interests |  |  |  |  | 49 | 212 | -41 | -13 | -27 | -97 | -178 | -93 | -46 | 21 | 4 | -114 | -60
 | GAAP Net income attributable to TripAdvisor, Inc |  |  |  |  | 72371 | 102427 | 37373 | 40062 | 42912 | 18429 | 138776 | 47278 | 54064 | 54314.20699999999 | 22021 | 177677 | 48111
 | OIBA (2) |  |  |  |  | 141604 | 187889 | 65002.20393 | 69995 | 70907.427 | 42187.6657 | 248092.29663 | 77905 | 87973 | 88709.395 | 49969 | 304556 | 79908
 | Adjusted EBITDA (3) |  |  |  |  | 146626 | 197219 | 67591.20393 | 73084 | 74332.427 | 45955.6657 | 260963.29663 | 82007 | 92487 | 93339.395 | 55085 | 322918 | 84189
 | % of total revenue |  |  |  |  | 0.4916277167170725 | 0.5601396237883035 | 0.5950872843408287 | 0.5827651922908245 | 0.5335412039994545 | 0.4322188168351752 | 0.5384744216618662 | 0.5495637372505394 | 0.5464778246534548 | 0.5162548603160381 | 0.4 | 0.51 | 0.4582587159458945
 |  |  | year-over-year growth |  |  |  | 0.3450479451120538 |  |  |  |  | 0.3232165444754684 | 0.213279172907314 | 0.2654890263258716 | 0.2557022388089119 | 0.2 | 0.24 | 0.02660748472691356
 | Cash flow from operations |  |  |  |  | 110726 | 125738 | 46566 | 44232 | 57395 | 48722 | 196915 | 53316 | 60555 | 77850 | 26161 | 217882 | 29719
 | Capital expenditures (4) |  |  |  |  | 17871 | 13873 | 4053 | 5532 | 4398 | 4830 | 18813 | 4993 | 5431 | 5604 | 5295 | 21323 | 7339
 | (1) General and Administrative expense includes related-party shared services fee previously reported as a separate line item on our Form S-4 filed on November 1, 2011.
 | (2) Our primary operating metric prior to the Spin-Off for evaluating operating performance was Operating Income Before Amortization (“OIBA”), as reported on our Form S-4 filed on November 1, 2011.
 | OIBA is defined as Operating income plus: (1) amortization of intangible assets and any related impairment; (2) stock-based compensation expense; and (3) non-recurring expenses incurred to effect
 | the Spin-Off during the year ended December 31, 2011. This operating metric is no longer being used by our management to measure operating performance and is only being shown above to
 | illustrate the financial impact as we convert to a new operating metric post [NAME].
 | (3) Adjusted EBITDA is defined as operating income plus: (1) depreciation of property and equipment, including internal use software and website development;  (2) amortization of intangible assets;
 | (3) stock-based compensation; and (4) non-recurring expenses incurred to effect the Spin-Off during the year ended December 31, 2011.
 | (4) Includes internal-use software and website development.