Expedia (EXPE) 10-Q 29 Apr 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 15, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	EXPE
Entity Registrant Name	EXPEDIA, INC.
Entity Central Index Key	1,324,424
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		136,303,595
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,799,999

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Revenue		$ 1,903,961	$ 1,373,397
Costs and expenses:
Cost of revenue	[1]	402,841	321,918
Selling and marketing	[1]	1,040,607	763,381
Technology and content	[1]	293,283	190,455
General and administrative	[1]	147,809	116,397
Amortization of intangible assets		89,999	25,042
Legal reserves, occupancy tax and other		1,974	2,529
Restructuring and related reorganization charges	[1]	29,803	4,676
Operating income (loss)		(102,355)	(51,001)
Other income (expense):
Interest income		3,567	5,545
Interest expense		(43,960)	(27,994)
Other, net		(28,195)	105,101
Total other income (expense), net		(68,588)	82,652
Income (loss) before income taxes		(170,943)	31,651
Provision for income taxes		49,139	910
Net income (loss)		(121,804)	32,561
Net (income) loss attributable to noncontrolling interests		(57)	11,582
Net income (loss) attributable to Expedia, Inc.		$ (121,861)	$ 44,143
Earnings (loss) per share attributable to Expedia, Inc. available to common stockholders:
Basic		$ (0.81)	$ 0.35
Diluted		$ (0.81)	$ 0.34
Shares used in computing earnings (loss) per share:
Basic		151,052	127,563
Diluted		151,052	131,402
Dividends declared per common share		$ 0.24	$ 0.18
[1]	Includes stock-based compensation as follows: Cost of revenue $ 2,679 $ 1,158 Selling and marketing 8,301 6,472 Technology and content 12,350 6,784 General and administrative 19,462 14,472 Restructuring and related reorganization charges 11,173 -

CONSOLIDATED STATEMENTS OF OPE3

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Stock-based compensation	$ 53,965	$ 28,886
Cost of revenue
Stock-based compensation	2,679	1,158
Selling and marketing
Stock-based compensation	8,301	6,472
Technology and content
Stock-based compensation	12,350	6,784
General and administrative
Stock-based compensation	19,462	$ 14,472
Restructuring and related reorganization charges
Stock-based compensation	$ 11,173

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Net income (loss)		$ (121,804)	$ 32,561
Other comprehensive income (loss), net of tax
Currency translation adjustments, net of tax	[1]	6,654	(133,851)
Unrealized gains (losses) on available for sale securities, net of tax	[2]	474	475
Other comprehensive income (loss), net of tax		7,128	(133,376)
Comprehensive loss		(114,676)	(100,815)
Less: Comprehensive income (loss) attributable to noncontrolling interests		9,658	(44,252)
Comprehensive loss attributable to Expedia, Inc.		$ (124,334)	$ (56,563)
[1]	Net of tax of $11 million for the three months ended March 31, 2016 associated with debt translation losses related to a net investment hedge.
[2]	Net gains (losses) recognized and reclassified during the three months ended March 31, 2016 and 2015 were immaterial.

CONSOLIDATED STATEMENTS OF COM5

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) $ in Millions	Mar. 31, 2016USD ($)
Currency translation adjustments, debt translation losses related to net investment hedge	$ 11

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents		$ 2,063,329	$ 1,676,299
Restricted cash and cash equivalents		42,804	11,324
Short-term investments		28,587	33,739
Accounts receivable, net of allowance of $29,457 and $27,035		1,363,321	1,082,406
Income taxes receivable		117,956	13,805
Prepaid expenses and other current assets		180,135	158,688
Total current assets		3,796,132	2,976,261
Property and equipment, net		1,174,324	1,064,259
Long-term investments and other assets		634,983	642,802
Deferred income taxes		19,292	15,458
Intangible assets, net		2,738,961	2,793,954
Goodwill		8,026,352	7,992,941
TOTAL ASSETS		16,390,044	15,485,675
Current liabilities:
Accounts payable, merchant		1,372,340	1,329,870
Accounts payable, other		633,369	485,557
Deferred merchant bookings		3,616,584	2,337,037
Deferred revenue		293,030	235,809
Income taxes payable		53,023	68,019
Accrued expenses and other current liabilities		989,614	1,469,725
Total current liabilities		6,957,960	5,926,017
Long-term debt	[1]	3,209,491	3,183,140
Deferred income taxes		526,406	473,841
Other long-term liabilities		$ 328,994	$ 314,432
Commitments and contingencies
Redeemable noncontrolling interests		$ 669,984	$ 658,478
Stockholders' equity:
Additional paid-in capital		8,787,676	8,696,508
Treasury stock - Common stock, at cost		(4,241,931)	(4,054,909)
Retained earnings		373,300	507,666
Accumulated other comprehensive income (loss)		(287,368)	(284,894)
Total Expedia, Inc. stockholders' equity		4,631,700	4,864,394
Non-redeemable noncontrolling interests		65,509	65,373
Total stockholders' equity		4,697,209	4,929,767
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		16,390,044	15,485,675
Common Stock
Stockholders' equity:
Common stock		22	22
Class B Common Stock
Stockholders' equity:
Common stock		$ 1	$ 1
[1]	Net of applicable discounts and debt issuance costs.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accounts receivable, allowance	$ 29,457	$ 27,035
Treasury stock - Common stock, Shares	84,650,000	82,924,000
Class B Common Stock
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, Authorized	400,000,000	400,000,000
Common stock, Shares issued	12,800,000	12,800,000
Common stock, Shares outstanding	12,800,000	12,800,000
Common Stock
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, Authorized	1,600,000,000	1,600,000,000
Common stock, Shares issued	221,629,000	220,383,000
Common stock, Shares outstanding	136,979,000	137,459,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities:
Net income (loss)	$ (121,804)	$ 32,561
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation of property and equipment, including internal-use software and website development	105,255	74,445
Amortization of stock-based compensation	53,965	28,886
Amortization of intangible assets	89,999	25,042
Deferred income taxes	21,886	3,478
Foreign exchange (gain) loss on cash, cash equivalents and short-term investments, net	(33,707)	39,665
Realized (gain) loss on foreign currency forwards	2,102	(16,907)
Noncontrolling interest basis adjustment		(79,476)
Other	(3,613)	4,849
Changes in operating assets and liabilities, net of effects from acquisitions:
Accounts receivable	(267,867)	(215,036)
Prepaid expenses and other assets	(37,399)	(23,884)
Accounts payable, merchant	42,422	73,098
Accounts payable, other, accrued expenses and other current liabilities	55,446	14,477
Tax payable/receivable, net	(119,835)	(83,213)
Deferred merchant bookings	1,256,439	1,165,473
Deferred revenue	55,974	7,606
Net cash provided by operating activities	1,099,263	1,051,064
Investing activities:
Capital expenditures, including internal-use software and website development	(167,578)	(102,650)
Purchases of investments		(346,043)
Sales and maturities of investments	8,215	129,019
Acquisitions, net of cash acquired		(326,088)
Net settlement of foreign currency forwards	(2,102)	16,907
Other, net	2,230	1,807
Net cash used in investing activities	(159,235)	(627,048)
Financing activities:
Payment of HomeAway Convertible Notes	(400,443)
Purchases of treasury stock	(187,022)	(44,923)
Payment of dividends to stockholders	(36,174)	(22,895)
Proceeds from exercise of equity awards and employee stock purchase plan	25,680	29,011
Excess tax benefit on equity awards	9,060	10,059
Withholding taxes for stock option exercises	(1,282)
Other, net	(13,710)	2,084
Net cash provided by (used in) financing activities	(603,891)	(26,664)
Effect of exchange rate changes on cash and cash equivalents	50,893	(64,769)
Net increase in cash and cash equivalents	387,030	332,583
Cash and cash equivalents at beginning of period	1,676,299	1,402,700
Cash and cash equivalents at end of period	2,063,329	1,735,283
Supplemental cash flow information
Cash paid for interest	52,982	53,442
Income tax payments, net	$ 39,202	$ 68,461

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Basis of Presentation	Note 1 – Basis of Presentation Description of Business Expedia, Inc. and its subsidiaries provide travel products and services to leisure and corporate travelers in the United States and abroad as well as various media and advertising offerings to travel and non-travel advertisers. These travel products and services are offered through a diversified portfolio of brands including: Expedia.com ® ® ® ® ® ® ® ® ® Basis of Presentation These accompanying financial statements present our results of operations, financial position and cash flows on a consolidated basis. The unaudited consolidated financial statements include Expedia, Inc., our wholly-owned subsidiaries, and entities we control, or in which we have a variable interest and are the primary beneficiary of expected cash profits or losses. We have eliminated significant intercompany transactions and accounts. We have prepared the accompanying unaudited consolidated financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial reporting. We have included all adjustments necessary for a fair presentation of the results of the interim period. These adjustments consist of normal recurring items. Our interim unaudited consolidated financial statements are not necessarily indicative of results that may be expected for any other interim period or for the full year. These interim unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2015, previously filed with the Securities and Exchange Commission. Accounting Estimates We use estimates and assumptions in the preparation of our interim unaudited consolidated financial statements in accordance with GAAP. Our estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of our interim unaudited consolidated financial statements. These estimates and assumptions also affect the reported amount of net income or loss during any period. Our actual financial results could differ significantly from these estimates. The significant estimates underlying our interim unaudited consolidated financial statements include revenue recognition; recoverability of current and long-lived assets, intangible assets and goodwill; income and transactional taxes, such as potential settlements related to occupancy and excise taxes; loss contingencies; loyalty program liabilities; redeemable noncontrolling interests; acquisition purchase price allocations; stock-based compensation and accounting for derivative instruments. Reclassifications We have reclassified certain amounts related to our prior period results to conform to our current period presentation. Seasonality We generally experience seasonal fluctuations in the demand for our travel products and services. For example, traditional leisure travel bookings are generally the highest in the first three quarters as travelers plan and book their spring, summer and holiday travel. The number of bookings typically decreases in the fourth quarter. Because revenue for most of our travel products, including merchant and agency hotel, is recognized when the travel takes place rather than when it is booked, revenue typically lags bookings by several weeks or longer. The seasonal revenue impact is exacerbated with respect to income by the nature of our variable cost of revenue and direct sales and marketing costs, which we typically realize in closer alignment to booking volumes, and the more stable nature of our fixed costs. Furthermore, operating profits for our primary advertising business, trivago, are experienced in the second half of the year as selling and marketing costs offset revenue in the first half of the year as we aggressively market during the busy booking period for summer travel. As a result, revenue and income are typically the lowest in the first quarter and highest in the third quarter. The continued growth of our international operations or a change in our product mix, including the assimilation, growth and shift to more of a transaction-based business model for the vacation rental listing business of HomeAway, may influence the typical trend of the seasonality in the future.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Summary of Significant Accounting Policies	Note 2 – Summary of Significant Accounting Policies Recently Adopted Accounting Policies As of January 1, 2016, we adopted the Accounting Standard Update (“ASU”) requiring debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Upon adoption, we retroactively restated deferred issuance costs from current and long-term assets to the respective debt liability. The adoption of this guidance and prior fiscal year reclassifications did not have a material impact on our previously reported consolidated financial statements. As of January 1, 2016, we prospectively adopted the ASU clarifying the accounting for fees paid by a customer in a cloud computing arrangement. This standard clarified whether a customer should account for a cloud computing arrangement as an acquisition of a software license or as a service arrangement by providing characteristics that a cloud computing arrangement must have in order to be accounted for as a software license acquisition. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If the arrangement does not include a software license, the customer should account for a cloud computing arrangement as a service contract. The adoption of this new guidance did not have a material impact on our consolidated financial statements. Recent Accounting Policies Not Yet Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued an ASU amending revenue recognition guidance and requiring more detailed disclosures to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. In August 2015, the FASB issued an ASU deferring the effective date of the revenue standard so it would be effective for annual and interim reporting periods beginning after December 15, 2017, with early adoption prohibited before December 15, 2016. We are in the process of evaluating the impact of the adoption of this new guidance on our consolidated financial statements. In January 2016, the FASB issued new guidance related to accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The new standard is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. We are in the process of evaluating the impact of adopting this new guidance on our consolidated financial statements. In February 2016, the FASB issued new guidance related to accounting and reporting guidelines for leasing arrangements. The new guidance requires organizations that lease assets to recognize assets and liabilities on the balance sheet related to the rights and obligations created by those leases regardless of whether they are classified as finance or operating leases. Consistent with current guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease primarily will depend on its classification as a finance or operating lease. The guidance also requires new disclosures to help financial statement users better understand the amount, timing and uncertainty of cash flows arising from leases. This guidance is effective for annual and interim reporting periods beginning after December 15, 2018. Early adoption is permitted and should be applied using a modified retrospective approach. We are in the process of evaluating the impact of adopting this new guidance on our consolidated financial statements. In March 2016, the FASB issued new guidance related to accounting for share-based payments. The updated guidance changes how companies account for certain aspects of share-based payments awards to employees, including the accounting for income taxes, forfeitures, and statuatory tax withholding requirements, as well as classification in the statement of cash flows. The guidance is effective for annual and interim reporting periods beginning after December 15, 2016, with early adoption permitted. We are in the process of evaluating the impact of adopting this new guidance on our consolidated financial statements.

Acquisitions and Other Investme

Acquisitions and Other Investments	3 Months Ended
	Mar. 31, 2016
Acquisitions and Other Investments	Note 3 – Acquisitions and Other Investments The following summarizes the allocation of the purchase price for our first quarter of 2015 acquisitions, including Travelocity and a controlling interest in our former 50/50 joint venture with AirAsia Berhad, in thousands: Goodwill $ 190,190 Intangible assets with indefinite lives 163,400 Intangible assets with definite lives (1) 140,285 Net assets and non-controlling interests acquired (2) (20,619 ) Deferred tax liabilities (7,910 ) Total (3) $ 465,346 (1) Acquired definite-lived intangible assets primarily consist of customer relationship, reacquired right and supplier relationship assets and have estimated useful lives of between 4 and 10 years with a weighted average life of 5.7 years. (2) Includes cash acquired of $41 million. (3) The total purchase price includes noncash consideration of $99 million related to an equity method investment, which was consolidated upon our acquisition of a controlling interest, with the remainder paid in cash during the period. For our acquisitions of Orbitz in September 2015 and HomeAway in December 2015, the purchase price allocations remain preliminary and subject to revision while we accumulate all relevant information regarding the fair values of the net assets acquired. The final allocations may include changes to the acquisition date fair value of intangible assets, goodwill, deferred taxes, deferred revenue as well as operating assets and liabilities. During the first quarter of 2016, there were no adjustments made to the preliminary purchase price allocation that materially impacted the consolidated balance sheet or current period earnings. Other Investments.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Measurements	Note 4 – Fair Value Measurements Financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2016 are classified using the fair value hierarchy in the table below: Total Level 1 Level 2 (In thousands) Assets Cash equivalents: Money market funds $ 265,633 $ 265,633 $ — Time deposits 94,901 — 94,901 Investments: Corporate debt securities 90,502 — 90,502 Total assets $ 451,036 $ 265,633 $ 185,403 Liabilities Derivatives: Foreign currency forward contracts $ 15,602 $ — $ 15,602 Financial assets measured at fair value on a recurring basis as of December 31, 2015 are classified using the fair value hierarchy in the table below: Total Level 1 Level 2 (In thousands) Assets Cash equivalents: Money market funds $ 218,340 $ 218,340 $ — Time deposits 29,126 — 29,126 Derivatives: — Foreign currency forward contracts 8,045 — 8,045 Investments: Corporate debt securities 98,403 — 98,403 Total assets $ 353,914 $ 218,340 $ 135,574 We classify our cash equivalents and investments within Level 1 and Level 2 as we value our cash equivalents and investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs. Valuation of the foreign currency forward contracts is based on foreign currency exchange rates in active markets, a Level 2 input. As of March 31, 2016 and December 31, 2015, our cash and cash equivalents consisted primarily of prime institutional money market funds with maturities of three months or less, time deposits as well as bank account balances. We invest in investment grade corporate debt securities, all of which are classified as available for sale. As of March 31, 2016, we had $29 million of short-term and $62 million of long-term available for sale investments and the amortized cost basis of the investments approximated their fair value with gross unrealized gains and gross unrealized losses both of less than $1 million. As of December 31, 2015, we had $34 million of short-term and $65 million of long-term available for sale investments and the amortized cost basis of the investments approximated their fair value with both gross unrealized gains and gross unrealized losses of less than $1 million. We also hold time deposit investments with financial institutions. Time deposits with original maturities of less than three months are classified as cash equivalents and those with remaining maturities of less than one year are classified within short-term investments. Derivative instruments are carried at fair value on our consolidated balance sheets. We use foreign currency forward contracts to economically hedge certain merchant revenue exposures, foreign denominated liabilities related to certain of our loyalty programs and our other foreign currency-denominated operating liabilities. Our goal in managing our foreign exchange risk is to reduce, to the extent practicable, our potential exposure to the changes that exchange rates might have on our earnings, cash flows and financial position. Our foreign currency forward contracts are typically short-term and, as they do not qualify for hedge accounting treatment, we classify the changes in their fair value in other, net. As of March 31, 2016, we were party to outstanding forward contracts hedging our liability and revenue exposures with a total net notional value of $2.3 billion. We had a net forward liability of $16 million as of March 31, 2016 recorded in accrued expenses and other current liabilities and a net forward asset of $8 million as of December 31, 2015 recorded in prepaid expenses and other current assets. We recorded $26 million in net losses and $19 million in net gains from foreign currency forward contracts during the three months ended March 31, 2016 and 2015.

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt	Note 5 – Debt The following table sets forth our outstanding debt: March 31, December 31, (In thousands) 7.456% senior notes due 2018 $ 500,000 $ 500,000 5.95% senior notes due 2020 746,416 746,216 2.5% (€650 million) senior notes due 2022 729,285 703,254 4.5% senior notes due 2024 493,964 493,797 5.0% senior notes due 2026 739,826 739,873 Long-term debt (1) $ 3,209,491 $ 3,183,140 (1) Net of applicable discounts and debt issuance costs. Long-term Debt Our $500 million in registered senior unsecured notes outstanding at March 31, 2016 are due in August 2018 and bear interest at 7.456% (the “7.456% Notes”). Interest is payable semi-annually in February and August of each year. At any time Expedia may redeem the 7.456% Notes at a redemption price of 100% of the principal plus accrued interest, plus a “make-whole” premium, in whole or in part. Our $750 million in registered senior unsecured notes outstanding at March 31, 2016 are due in August 2020 and bear interest at 5.95% (the “5.95% Notes”). The 5.95% Notes were issued at 99.893% of par resulting in a discount, which is being amortized over their life. Interest is payable semi-annually in February and August of each year. We may redeem the 5.95% Notes at a redemption price of 100% of the principal plus accrued interest, plus a “make-whole” premium, in whole or in part. Our Euro 650 million in registered senior unsecured notes outstanding at March 31, 2016 are due in June 2022 and bear interest at 2.5% (the “2.5% Notes”). The 2.5% Notes were issued at 99.525% of par resulting in a discount, which is being amortized over their life. Interest is payable annually in arrears in June of each year, beginning June 3, 2016. We may redeem the 2.5% Notes at our option, at whole or in part, at any time or from time to time. If we elect to redeem the 2.5% Notes on or after March 3, 2022, we may redeem them at a redemption price of 100% of the principal plus accrued and unpaid interest. Subject to certain limited exceptions, all payments of interest and principal for the 2.5% Notes will be made in Euros. The aggregate principal value of the 2.5% Notes is designated as a hedge of our net investment in certain Euro functional currency subsidiaries. The notes are measured at Euro to U.S. Dollar exchange rates at each balance sheet date and transaction gains or losses due to changes in rates are recorded in accumulated other comprehensive income (loss) (“OCI”). The Euro-denominated net assets of these subsidiaries are translated into U.S. Dollars at each balance sheet date, with effects of foreign currency changes also reported in accumulated OCI. Since the notional amount of the recorded Euro-denominated debt is less than the notional amount of our net investment, we do not expect to incur any ineffectiveness on this hedge. Our $500 million in registered senior unsecured notes outstanding at March 31, 2016 are due in August 2024 and bear interest at 4.5% (the “4.5% Notes”). The 4.5% Notes were issued at 99.444% of par resulting in a discount, which is being amortized over their life. Interest is payable semi-annually in February and August of each year. We may redeem the 4.5% Notes at our option at any time in whole or from time to time in part. If we elect to redeem the 4.5% Notes prior to May 15, 2024, we may redeem them at a redemption price of 100% of the principal plus accrued interest, plus a “make-whole” premium. If we elect to redeem the 4.5% Notes on or after May 15, 2024, we may redeem them at a redemption price of 100% of the principal plus accrued interest. Our $750 million in privately placed senior unsecured notes outstanding at March 31, 2016 are due in February 2026 and bear interest at 5.0% (the “5.0% Notes”). The 5.0% Notes were issued at 99.535% of par resulting in a discount, which is being amortized over their life. Interest is payable semi-annually in arrears in February and August of each year, beginning August 15, 2016. We may redeem the 5.0% Notes at our option at any time in whole or from time to time in part. If we elect to redeem the 5.0% Notes prior to November 12, 2025, we may redeem them at a redemption price of 100% of the principal plus accrued interest, plus a “make-whole” premium. If we elect to redeem the 5.0% Notes on or after November 12, 2025, we may redeem them at a redemption price of 100% of the principal plus accrued interest. We have also entered into a registrations rights agreement with respect to the 5.0% Notes, under which we have agreed to use commercially reasonable best efforts to file a registration statement to permit the exchange of the 5.0% Notes for registered notes having the same financial terms and covenants as 5.0% Notes, cause such registration statement to become effective and complete the related exchange offer by no later than December 7, 2016. If we fail to satisfy certain of its obligations under the registration rights agreement, we will be required to pay additional interest of 0.25% per annum to the holders of the 5.0% Notes until such registrations right default is cured. The 7.456%, 5.95%, 4.5%, 2.5% and 5.0% Notes (collectively the “Notes”) are senior unsecured obligations issued by Expedia and guaranteed by certain domestic Expedia subsidiaries. The Notes rank equally in right of payment with all of our existing and future unsecured and unsubordinated obligations of Expedia and the guarantor subsidiaries. For further information, see Note 15 — Guarantor and Non-Guarantor Supplemental Financial Information. In addition, the Notes include covenants that limit our ability to (i) create certain liens, (ii) enter into sale/leaseback transactions and (iii) merge or consolidate with or into another entity or transfer substantially all of our assets. Accrued interest related to the Notes was $40 million and $52 million as of March 31, 2016 and December 31, 2015. The 5.95%, 4.5%, 2.5% and 5.0% Notes are redeemable in whole or in part, at the option of the holders thereof, upon the occurrence of certain change of control triggering events at a purchase price in cash equal to 101% of the principal plus accrued and unpaid interest. The following table sets forth the approximate fair value of our outstanding debt, which is based on quoted market prices in less active markets (Level 2 inputs): March 31, December 31, (In thousands) 7.456% senior notes due 2018 $ 554,000 $ 555,000 5.95% senior notes due 2020 829,000 827,000 2.5% (€650 million) senior notes due 2022 (1) 735,000 705,000 4.5% senior notes due 2024 515,000 487,000 5.0% senior notes due 2026 752,000 750,000 (1) Approximately 648 million Euro as of March 31, 2016 and 644 million Euro as of December 31, 2015. Credit Facility As of March 31, 2016, Expedia, Inc. maintained a $1.5 billion unsecured revolving credit facility with a group of lenders, which is unconditionally guaranteed by certain domestic Expedia subsidiaries that are the same as under the Notes and expires in February 2021. As of March 31, 2016, we had no revolving credit facility borrowings outstanding. The amount of stand-by letters of credit (“LOCs”) issued under the facility reduces the credit amount available. The facility bears interest based on the Company’s credit ratings, with drawn amounts bearing interest at LIBOR plus 137.5 basis points and the commitment fee on undrawn amounts at 17.5 basis points as of March 31, 2016. The facility contains covenants including maximum leverage and minimum interest coverage ratios. The amount of stand-by letters of credit (“LOC”) issued under the facility reduces the credit amount available. As of March 31, 2016, there was $25 million of outstanding stand-by LOCs issued under the facility. The current facility was entered into in February 2016 and replaced our prior $1 billion unsecured revolving credit that expired in September 2019. As of December 31, 2015, we had no revolving credit facility borrowings outstanding under the prior facility and $29 million of outstanding stand-by LOCs issued under that facility. In addition, one of our international subsidiaries maintains a Euro 50 million uncommitted credit facility, which is guaranteed by Expedia, Inc., that may be terminated at any time by the lender. We had Euro 20 million in borrowings outstanding included in accrued expenses and other current liabilities on the consolidated balance sheet as of both March 31, 2016 and December 31, 2015. Another of our international subsidiaries maintains a $5.6 million uncommitted credit facility, which is guaranteed by Expedia, Inc., that may be terminated at any time by the lender. We had approximately $5 million in borrowings outstanding included in accrued expenses and other current liabilities on the consolidated balance sheet as of both March 31, 2016 and December 31, 2015. HomeAway Debt Repayment On December 15, 2015, we completed our acquisition of HomeAway, Inc., including all of its brands. In connection with the acquisition, we assumed approximately $402.5 million of 0.125% Convertible Senior Notes due 2019 (the “Convertible Notes”). However, following the consummation of the HomeAway acquisition, we subsequently delivered a notice to holders of the Convertible Notes, as required per the terms of the Convertible Notes indenture, to which each holder of the Convertible Notes had the right to (i) require the Company to repurchase its Convertible Notes for cash at a price equal to 100% of the principal amount of such notes plus accrued and unpaid interest or (ii) convert its Convertible Notes, at a specified conversion rate into HomeAway common stock (which, following consummation of the HomeAway acquisition, represented the right to receive the transaction consideration) or (iii) allow the Convertible Notes to remain outstanding for the remaining term. As a result, the majority of the Convertible Notes, or $401 million, were repurchased during the first quarter of 2016. As of December 31, 2015, the Convertible Notes outstanding were included in accrued expenses and other current liabilities, and as of March 31, 2016, we have reclassified the remaining $1 million outstanding to other long-term liabilities.

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interests	3 Months Ended
	Mar. 31, 2016
Redeemable Noncontrolling Interests	Note 6 – Redeemable Noncontrolling Interests We have noncontrolling interests in majority owned entities, which are carried at fair value as the noncontrolling interests contain certain rights, whereby we may acquire and the minority shareholders may sell to us additional shares of the companies. A reconciliation of redeemable noncontrolling interest is as follows: Three months ended 2016 Balance, beginning of the period $ 658,478 Net loss attributable to noncontrolling interests (11 ) Fair value adjustments (22,483 ) Currency translation adjustments and other 34,000 Balance, end of period $ 669,984 The fair value of the redeemable noncontrolling interest was determined based on a blended analysis of the present value of future discounted cash flows and market value approach (“Level 3” on the fair value hierarchy). Our significant estimates in the discounted cash flow model include our weighted average cost of capital as well as long-term growth and profitability of the business. Our significant estimates in the market value approach include identifying similar companies with comparable business factors and assessing comparable revenue and operating multiples in estimating the fair value of the business. In connection with the acquisition of our majority ownership interest in trivago, we entered into a shareholders agreement with the minority shareholders that contains certain put/call rights whereby we may cause the minority shareholders to sell to us and the minority shareholders of trivago may cause us to acquire from them up to 50% and 100% of the shares of the company held by them at fair value during two windows, the first of which is currently open and we are in active conversations with the trivago minority shareholders. As of April 28, 2016, neither party has exercised its respective rights with respect to the current open window and we expect that the current discussions are likely to continue through June 2016. The second window opens in 2018. Our redeemable noncontrolling interest balance related to trivago was $665 million and $654 million as of March 31, 2016 and December 31, 2015, which represents our best estimate of fair value. As we are currently in the first put/call window, it is important to note that based on the final negotiations, the negotiated fair market value and therefore the final redemption amount could materially differ from this estimate.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity	Note 7 – Stockholders’ Equity Dividends on our Common Stock The Executive Committee, acting on behalf of the Board of Directors, declared the following dividends during the periods presented: Declaration Date Dividend Record Date Total Amount Payment Date February 8, 2016 $ 0.24 March 10, 2016 $ 36,174 March 30, 2016 February 4, 2015 $ 0.18 March 10, 2015 $ 22,895 March 26, 2015 In addition, in April 2016, the Executive Committee, acting on behalf of the Board of Directors, declared a quarterly cash dividend of $0.24 per share of outstanding common stock payable on June 16, 2016 to stockholders of record as of the close of business on May 26, 2016. Future declarations of dividends are subject to final determination by our Board of Directors. Share Repurchases In April 2012, the Executive Committee, acting on behalf of the Board of Directors, authorized a repurchase of up to 20 million outstanding shares of our common stock. In February 2015, the Executive Committee, acting on behalf of the Board of Directors, authorized an additional repurchase of up to 10 million shares of our common stock. There is no fixed termination date for the repurchases. During the three months ended March 31, 2016, we repurchased, through open market transactions, 1.7 million shares under this authorization for a total cost of $183 million, excluding transaction costs, representing an average repurchase price of $108.34 per share. As of March 31, 2016, 9.6 million shares remain authorized for repurchase under the 2015 authorization. Subsequent to the end of the first quarter of 2016, we repurchased an additional 1.2 million shares for a total cost of $129 million, excluding transaction costs, representing an average purchase price of $106.32 per share. Stock-based Awards Stock-based compensation expense relates primarily to expense for stock options and restricted stock units (“RSUs”). As of March 31, 2016, we had stock-based awards outstanding representing approximately 23 million shares of our common stock, consisting of options to purchase approximately 21 million shares of our common stock with a weighted average exercise price of $80.49 and weighted average remaining life of 5.3 years and 1 million RSUs. Annual employee stock-based award grants typically occur during the first quarter of each year. During the three months ended March 31, 2016, we granted approximately 5 million stock options. The fair value of the stock options granted during the three months ended March 31, 2016 was estimated at the date of grant using appropriate valuation techniques, including the Black-Scholes and Monte Carlo option-pricing models. Accumulated Other Comprehensive Income (Loss) The balance for each class of accumulated other comprehensive loss as of March 31, 2016 and December 31, 2015 is as follows: March 31, December 31, (In thousands) Foreign currency translation adjustments, net of tax (1) $ (287,715 ) $ (284,767 ) Net unrealized gain (loss) on available for sale securities, net of tax 347 (127 ) Accumulated other comprehensive loss $ (287,368 ) $ (284,894 ) (1) Foreign currency translation adjustments, net of tax, includes foreign currency transaction losses at March 31, 2016 of $17 million ($28 million before tax) and December 31, 2015 of $1 million ($2 million before tax) associated with our 2.5% Notes. The 2.5% Notes are Euro-denominated debt designated as hedges of certain of our Euro-denominated net assets. See Note 5 – Debt for more information. The remaining balance in currency translation adjustments excludes income taxes as a result of our current intention to indefinitely reinvest the earnings of our international subsidiaries outside of the United States.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share	Note 8 – Earnings Per Share The following table presents our basic and diluted earnings per share: Three months ended March 31, 2016 2015 (In thousands, except per share data) Net income (loss) attributable to Expedia, Inc. $ (121,861 ) $ 44,143 Earnings (loss) per share attributable to Expedia, Inc. available to common stockholders: Basic $ (0.81 ) $ 0.35 Diluted (0.81 ) 0.34 Weighted average number of shares outstanding: Basic 151,052 127,563 Dilutive effect of: Options to purchase common stock — 3,727 Other dilutive securities — 112 Diluted 151,052 131,402 Basic earnings per share is calculated using our weighted-average outstanding common shares. The earnings per share amounts are the same for common stock and Class B common stock because the holders of each class are legally entitled to equal per share distributions whether through dividends or in liquidation. Diluted earnings per share is calculated using our weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method. In periods when we recognize a net loss, we exclude the impact of outstanding stock awards from the diluted loss per share calculation as their inclusion would have an antidilutive effect. For the three months ended March 31, 2016 and March 31, 2015, approximately 23 million and 11 million of outstanding stock awards have been excluded from the calculations of diluted earnings (loss) per share attributable to common stockholders because their effect would have been antidilutive.

Restructuring and Related Reorg

Restructuring and Related Reorganization Charges	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Reorganization Charges	Note 9 – Restructuring and Related Reorganization Charges In connection with the migration of technology platforms and centralization of technology, supply and other operations, primarily related to previously disclosed acquisitions, we recognized $30 million and $5 million in restructuring and related reorganization charges during the three months ended March 31, 2016 and 2015. Based on current plans, which are subject to change, we expect approximately $25 million of restructuring charges for the remainder of 2016 (for total 2016 charges of up to $55 million), but these could be higher should we make additional decisions throughout the year and estimates do not include any possible future acquisition integrations. The following table summarizes the restructuring and related reorganization activity for the three months ended March 31, 2016: Employee Stock-based Other Total (In thousands) Accrued liability as of January 1, 2016 $ 45,889 $ — $ 1,123 $ 47,012 Charges 15,783 11,173 2,847 29,803 Payments (26,097 ) — (1,434 ) (27,531 ) Non-cash items 375 (11,173 ) — (10,798 ) Accrued liability as of March 31, 2016 $ 35,950 $ — $ 2,536 $ 38,486

Other, net

Other, net	3 Months Ended
	Mar. 31, 2016
Other, net	Note 10 – Other, net The following table presents the components of other, net: For the Three Months Ended 2016 2015 (In thousands) Foreign exchange rate gains ( $ (18,835 ) $ 14,155 Noncontrolling investment basis adjustment — 79,476 Other (9,360 ) 11,470 Total $ (28,195 ) $ 105,101 During the first quarter of 2015, in conjunction with the acquisition of controlling interest of AAE Travel Pte. Ltd., the joint venture formed between Expedia and AirAsia Berhad in 2011, we remeasured our previously held equity interest to fair value, and recognized a gain of $79 million in other, net during the period.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Taxes	Note 11 – Income Taxes We determine our provision for income taxes for interim periods using an estimate of our annual effective tax rate. We record any changes affecting the estimated annual tax rate in the interim period in which the change occurs, including discrete tax items. Our effective tax rate for the three months ended March 31, 2016 was 28.7% and was measured against a pretax loss. The effective tax rate was driven by earnings in foreign jurisdictions, as well as the release of a valuation allowance for net operating losses. Our effective tax rate of (2.9%) measured against our year-to-date pre-tax income for the three months ended March 31, 2015 was lower than the 35% federal statutory rate primarily due to income earned in foreign jurisdictions where the statutory income tax rate is lower, offset by certain foreign losses for which Expedia does not recognize a benefit as well as revaluation of deferred tax balances due to New York corporate tax reform enacted during the period.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies	Note 12 – Commitments and Contingencies Legal Proceedings In the ordinary course of business, we are a party to various lawsuits. Management does not expect these lawsuits to have a material impact on the liquidity, results of operations, or financial condition of Expedia. We also evaluate other potential contingent matters, including value-added tax, excise tax, sales tax, transient occupancy or accommodation tax and similar matters. We do not believe that the aggregate amount of liability that could be reasonably possible with respect to these matters would have a material adverse effect on our financial results; however, litigation is inherently uncertain and the actual losses incurred in the event that our legal proceedings were to result in unfavorable outcomes could have a material adverse effect on our business and financial performance. Litigation Relating to Occupancy Taxes. Pay-to-Play. We are also in various stages of inquiry or audit in multiple European Union jurisdictions, including in the United Kingdom, regarding the application of VAT to our European Union related transactions. While we believe we comply with applicable VAT laws, rules and regulations in the relevant jurisdictions, the tax authorities may determine that we owe additional taxes. In certain jurisdictions, including the United Kingdom, we may be required to “pay-to-play” any VAT assessment prior to contesting its validity. While we believe that we will be successful based on the merits of our positions with regard to the United Kingdom and other VAT audits in pay-to-play jurisdictions, it is nevertheless reasonably possible that we could be required to pay any assessed amounts in order to contest or litigate the applicability of any assessments and an estimate for a reasonably possible amount of any such payments cannot be made. The following are significant “pay-to-play” payments made by Expedia companies: Hawaii (General Excise Tax). • A total $26 million relating to non-commissioned hotel reservations for the 2012 tax year, which includes $6 million for Orbitz; • A total of $39 million relating to non-commissioned travel agency services relating to rental cars for the tax years 2000 through 2012 totaling, which includes $10 million for Orbitz and a duplicative assessment for Expedia and Hotels.com totaling $9.3 million and thus are overstated; • A total of $34 million relating to non-commissioned travel agency services relating to hotel reservations and car rental for the 2013 tax year, which includes $5 million for Orbitz; and • A total of $12 million relating to hotel and car rental revenue for “agency model” transactions for the time period 2000 to 2014 and hotel and car rental revenue for “merchant model” transactions for the 2014 tax year. San Francisco (Occupancy Tax). City of San Diego, California Litigation. Matters Relating to Hotel Booking Practices. In addition, the Directorate General for Competition, Consumer Affairs and Repression of Fraud (the “DGCCRF”), a directorate of the French Ministry of Economy and Finance with authority over unfair trading practices, brought a lawsuit in France against Expedia entities objecting to certain parity clauses in contracts between Expedia entities and French hotels. In May 2015, the French court ruled that certain of the parity provisions in certain contracts that were the subject of the lawsuit were not in compliance with French commercial law, but imposed no fine and no injunction. The DGCCRF has appealed the decision. A number of competition authorities, such as those in Australia, Austria, Belgium, China, Czech Republic, Denmark, France, Germany, Greece, Hungary, Ireland, Italy, New Zealand, Poland, Sweden and Switzerland, have also inquired or initiated investigations into the travel industry and, in particular, in relation to parity provisions in contracts between hotels and online travel companies, including Expedia. While the ultimate outcomes of these lawsuits, inquiries or investigations are uncertain and our circumstances are distinguishable from those of other online travel agencies subject to similar lawsuits, inquiries or investigations, we note in this context that on April 21, 2015 the competition authorities in France, Italy and Sweden announced a proposed set of commitments offered by Booking.com to resolve the parity clause cases brought by these authorities against it. The German Federal Cartel Office (“FCO”) also has required another online travel company, Hotel Reservation Service (“HRS”), to remove certain clauses from its contracts with hotels. HRS appealed this decision, which the Higher Regional Court Düsseldorf rejected on January 9, 2015. On December 23, 2015, the FCO announced that it had also required Booking.com to remove certain clauses from its contracts with German hotels. Booking.com announced that it will appeal this decision. In addition, with effect from August 1, 2015, Expedia waived certain rate, conditions and availability parity clauses in its agreements with its European hotel partners for a period of five years. While Expedia maintains that its parity clauses have always been lawful and in compliance with competition law, Expedia considers that this waiver is a positive step towards facilitating the closure of the open investigations into such clauses on a harmonized pan-European basis. It is not certain what the outcome will be of the competition authorities’ assessment of Expedia’s announcement. Since Expedia’s waivers were implemented, the competition authorities in Denmark, United Kingdom, Greece, Norway, Sweden, Poland, Ireland and Italy have announced either the closure of their investigation against Expedia or a decision not to open an investigation against Expedia, in each case having had regard to the changes implemented by Expedia. The Austrian competition authority has announced its intention to close its investigation against Expedia shortly. In addition, on November 6, 2015, the Swiss competition authority announced that it had issued a final decision finding certain parity terms existing in previous versions of agreements between Swiss hotels and each of Expedia, Booking.com and Hotel Reservation Service to be prohibited under Swiss law. The decision explicitly notes that Expedia’s current contract terms with Swiss hotels are not subject to this prohibition. The Swiss competition authority imposed no fines or other sanctions against Expedia and did not find an abuse of a dominant market position by Expedia. On July 9, 2015, the French National Assembly adopted Article 133 of the Loi Macron (“Article 133”) that seeks to define the nature of the relationship between online reservation platforms and French hotels. Article 133 became effective on August 8, 2015. Expedia considers that Article 133 was drafted ambiguously and can be interpreted in a way that violates both EU and French legal principles. Therefore Expedia has initiated a complaint with the European Commission relating to Article 133. However, following the effective date, Expedia has been in contact with its hotel partners in France regarding the impact of Article 133.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2016
Related Party Transactions	Note 13 – Related Party Transactions Mr. Diller is the Chairman and Senior Executive of Expedia. Subject to the terms of an Amended and Restated Stockholders Agreement between Liberty Interactive Corporation (“Liberty Interactive”) and Mr. Diller (the “Stockholders Agreement”), Mr. Diller also holds an irrevocable proxy to vote shares of Expedia common stock and Class B common stock beneficially owned by Liberty Interactive (the “Diller Proxy”). By virtue of the proxy, as well as through shares owned by Mr. Diller directly, Mr. Diller is effectively able to control the outcome of all matters submitted to a vote or for the consent of Expedia’s stockholders (other than with respect to the election by the holders of Expedia common stock of 25% of the members of Expedia’s Board of Directors and matters as to which Delaware law requires a separate class vote). Last fall, Liberty Interactive announced its plan to spin-off to certain of its stockholders all of the shares of Liberty Interactive’s wholly owned subsidiary, Liberty Expedia Holdings, Inc. (“Liberty Expedia Holdings”), whose assets at the time of the spin-off would include all of Liberty Interactive’s interest in Expedia (the “Liberty Spin-Off”). On March 24, 2016, Mr. Diller entered into a Transaction Agreement with Liberty Interactive, Liberty Expedia Holdings, John C. Malone and Leslie Malone (the “Transaction Agreement”), under which, among other things, at the time of the Liberty Spin-off and subject to its completion, for a period of up to eighteen months (i) Mr. Diller will assign the Diller Proxy to Liberty Expedia Holdings and (ii) Mr. and Mrs. Malone will grant Mr. Diller an irrevocable proxy to vote all shares of Liberty Expedia Holdings Series A common stock and Series B common stock beneficially owned by them upon completion of the Liberty Spin-Off or thereafter (the “Malone Proxy”), in each case, subject to certain limitations. As a result, if the Liberty Spin-Off is completed and these proxy arrangements become effective, during the period the proxy arrangements are in effect, by virtue of the voting power associated with the Malone Proxy, the governance structure at Liberty Expedia Holdings and Mr. Diller’s continuing position as Chairman of Expedia’s Board of Directors, Mr. Diller will indirectly continue to control Expedia until the termination or expiration of the proxy arrangements, at which point (and by virtue of the termination of his assignment of the Diller Proxy), unless the proxy arrangements terminated as a result of Mr. Diller’s death or disability, Mr. Diller will again have the power to vote directly all shares of Expedia Common Stock and Class B Common Stock beneficially owned by Liberty Expedia Holdings. In connection with the Liberty Spin-Off, on March 24, 2016, Liberty Interactive and Liberty Expedia Holdings entered into a Reimbursement Agreement with Expedia pursuant to which Liberty Interactive and Liberty Expedia Holdings have agreed to reimburse Expedia for certain costs and expenses resulting from the Liberty Spin-Off and the above-described proxy arrangements that may be incurred by Expedia with respect to Expedia’s $1.5 billion unsecured revolving credit facility and Expedia’s senior unsecured notes maturing in 2018 and in 2020 (the “Reimbursement Agreement”). The reimbursement obligations of Liberty Interactive and Liberty Expedia Holdings are capped at $45 million, subject to certain limited exceptions, and conditioned on Expedia acting in all material respects consistent with our existing financial policies, which were previously provided to Liberty Interactive. Prior to the completion of the Liberty Spin-Off, the Reimbursement Agreement will terminate upon the termination of the Transaction Agreement. Following the completion of the Spin-Off, the Reimbursement Agreement will terminate upon the earliest to occur of: • Mr. Diller’s death, disability or in the event Mr. Diller ceases to be chairman of Expedia, • failure of certain reimbursement triggers to occur prior to the sixtieth day following the completion of the Liberty Spin-Off (as such period may be extended in certain limited circumstances), and • the date as of which Liberty Expedia Holdings and Liberty Interactive have paid all amounts due to Expedia pursuant to the terms of the Reimbursement Agreement. The Reimbursement Agreement constitutes Expedia’s sole and exclusive remedy with respect to any claim arising out of any potential change of control under any contract, debt instrument, agreement or other similar instrument resulting, directly or indirectly, from the Liberty Spin-Off or the proxy arrangements.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2016
Segment Information	Note 14 – Segment Information We have four reportable segments: Core Online Travel Companies (“Core OTA”), trivago, Egencia and HomeAway. In addition, eLong was a reportable segment through its disposal on May 22, 2015. Our Core OTA segment, which consists of the aggregation of operating segments, provides a full range of travel and advertising services to our worldwide customers through a variety of brands including: Expedia.com and Hotels.com in the United States and localized Expedia and Hotels.com websites throughout the world, Orbitz.com, Expedia Affiliate Network, Hotwire.com, Travelocity, Venere, Wotif Group, CarRentals.com, and Classic Vacations. Our trivago segment generates advertising revenue primarily from sending referrals to online travel companies and travel service providers from its hotel metasearch websites. Our Egencia segment, which also includes Orbitz for Business, provides managed travel services to corporate customers worldwide. Our HomeAway segment, created by our acquisition of HomeAway on December 15, 2015, operates an online marketplace for the vacation rental industry. We determined our operating segments based on how our chief operating decision makers manage our business, make operating decisions and evaluate operating performance. Our primary operating metric is adjusted EBITDA. Adjusted EBITDA for our Core OTA and Egencia segments includes allocations of certain expenses, primarily cost of revenue and facilities, and our Core OTA segment includes the total costs of our global supply organizations as well as the realized foreign currency gains or losses related to the forward contracts hedging a component of our net merchant hotel revenue. We base the allocations primarily on transaction volumes and other usage metrics. We do not allocate certain shared expenses such as accounting, human resources, information technology and legal to our reportable segments. We include these expenses in Corporate and Eliminations. Our allocation methodology is periodically evaluated and may change. Our segment disclosure includes intersegment revenues, which primarily consist of advertising and media services provided by our trivago segment to our Core OTA segment. These intersegment transactions are recorded by each segment at amounts that approximate fair value as if the transactions were between third parties, and therefore, impact segment performance. However, the revenue and corresponding expense are eliminated in consolidation. The elimination of such intersegment transactions is included within Corporate and Eliminations in the table below. Corporate and Eliminations also includes unallocated corporate functions and expenses. In addition, we record amortization of intangible assets and any related impairment, as well as stock-based compensation expense, restructuring and related reorganization charges, legal reserves, occupancy tax and other, and other items excluded from segment operating performance in Corporate and Eliminations. Such amounts are detailed in our segment reconciliation below. The following tables present our segment information for the three months ended March 31, 2016 and March 31, 2015. As a significant portion of our property and equipment is not allocated to our operating segments and depreciation is not included in our segment measure, we do not report the assets by segment as it would not be meaningful. We do not regularly provide such information to our chief operating decision makers. Three months ended March 31, 2016 Core OTA trivago Egencia HomeAway (1) Corporate & Total (In thousands) Third-party revenue $ 1,539,856 $ 112,062 $ 109,849 $ 142,194 $ — $ 1,903,961 Intersegment revenue — 64,108 — — (64,108 ) — Revenue $ 1,539,856 $ 176,170 $ 109,849 $ 142,194 $ (64,108 ) $ 1,903,961 Adjusted EBITDA $ 292,356 $ 7,706 $ 15,361 $ 17,314 $ (156,185 ) $ 176,552 Depreciation (58,818 ) (785 ) (6,847 ) (3,659 ) (35,146 ) (105,255 ) Amortization of intangible assets — — — — (89,999 ) (89,999 ) Stock-based compensation — — — — (53,965 ) (53,965 ) Legal reserves, occupancy tax and other — — — — (1,974 ) (1,974 ) Restructuring and related reorganization charges — — — — (18,630 ) (18,630 ) Realized (gain) loss on revenue hedges (9,084 ) — — — — (9,084 ) Operating income (loss) $ 224,454 $ 6,921 $ 8,514 $ 13,655 $ (355,899 ) (102,355 ) Other expense, net (68,588 ) Loss before income taxes (170,943 ) Provision for income taxes 49,139 Net loss (121,804 ) Net income attributable to noncontrolling interests (57 ) Net loss attributable to Expedia, Inc. $ (121,861 ) Three months ended March 31, 2015 Core OTA trivago Egencia eLong (2) Corporate & Total (In thousands) Third-party revenue $ 1,169,935 $ 72,050 $ 97,845 $ 33,567 $ — $ 1,373,397 Intersegment revenue — 47,075 — — (47,075 ) — Revenue $ 1,169,935 $ 119,125 $ 97,845 $ 33,567 $ (47,075 ) $ 1,373,397 Adjusted EBITDA $ 219,298 $ 5,046 $ 19,796 $ (33,252 ) $ (109,125 ) $ 101,763 Depreciation (40,611 ) (402 ) (5,642 ) (2,055 ) (25,735 ) (74,445 ) Amortization of intangible assets — — — — (25,042 ) (25,042 ) Stock-based compensation — — — — (28,886 ) (28,886 ) Legal reserves, occupancy tax and other — — — — (2,529 ) (2,529 ) Restructuring and related reorganization charges — — — — (4,676 ) (4,676 ) Realized (gain) loss on revenue hedges (17,186 ) — — — — (17,186 ) Operating income (loss) $ 161,501 $ 4,644 $ 14,154 $ (35,307 ) $ (195,993 ) (51,001 ) Other income, net 82,652 Income before income taxes 31,651 Provision for income taxes 910 Net income 32,561 Net loss attributable to noncontrolling interests 11,582 Net income attributable to Expedia, Inc. $ 44,143 (1) Includes results since our acquisition of HomeAway on December 15, 2015. (2) Includes results of eLong, which was disposed on May 22, 2015.

Guarantor and Non-Guarantor Sup

Guarantor and Non-Guarantor Supplemental Financial Information	3 Months Ended
	Mar. 31, 2016
Guarantor and Non-Guarantor Supplemental Financial Information	Note 15 – Guarantor and Non-Guarantor Supplemental Financial Information Condensed consolidating financial information of Expedia, Inc. (the “Parent”), our subsidiaries that are guarantors of our debt facility and instruments (the “Guarantor Subsidiaries”), and our subsidiaries that are not guarantors of our debt facility and instruments (the “Non-Guarantor Subsidiaries”) is shown below. The debt facility and instruments are guaranteed by certain of our wholly-owned domestic subsidiaries and rank equally in right of payment with all of our existing and future unsecured and unsubordinated obligations. The guarantees are full, unconditional, and joint and several with the exception of certain customary automatic subsidiary release provisions. In this financial information, the Parent and Guarantor Subsidiaries account for investments in their wholly-owned subsidiaries using the equity method. CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three months ended March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) Revenue $ — $ 1,473,883 $ 492,308 $ (62,230 ) $ 1,903,961 Costs and expenses: Cost of revenue — 318,332 87,612 (3,103 ) 402,841 Selling and marketing — 728,772 371,047 (59,212 ) 1,040,607 Technology and content — 219,505 73,707 71 293,283 General and administrative — 95,371 52,424 14 147,809 Amortization of intangible assets — 55,829 34,170 — 89,999 Legal reserves, occupancy tax and other — 1,974 — — 1,974 Restructuring and related reorganization charges — 20,259 9,544 — 29,803 Intercompany (income) expense, net — 175,689 (175,689 ) — — Operating income (loss) — (141,848 ) 39,493 — (102,355 ) Other income (expense): Equity in pre-tax earnings (losses) of consolidated subsidiaries (95,875 ) 45,116 — 50,759 — Other, net (41,216 ) (41,268 ) 13,896 — (68,588 ) Total other income (loss), net (137,091 ) 3,848 13,896 50,759 (68,588 ) Income (loss) before income taxes (137,091 ) (138,000 ) 53,389 50,759 (170,943 ) Provision for income taxes 15,230 44,587 (10,678 ) — 49,139 Net income (loss) (121,861 ) (93,413 ) 42,711 50,759 (121,804 ) Net income attributable to noncontrolling interests — — (57 ) — (57 ) Net income (loss) attributable to Expedia, Inc. $ (121,861 ) $ (93,413 ) $ 42,654 $ 50,759 $ (121,861 ) Comprehensive income (loss) attributable to Expedia, Inc. $ (138,094 ) $ (92,477 ) $ 55,478 $ 50,759 $ (124,334 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three months ended March 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) Revenue $ — $ 1,068,340 $ 349,223 $ (44,166 ) $ 1,373,397 Costs and expenses: Cost of revenue — 240,188 82,700 (970 ) 321,918 Selling and marketing — 520,759 285,980 (43,358 ) 763,381 Technology and content — 129,923 60,515 17 190,455 General and administrative — 70,196 46,056 145 116,397 Amortization of intangible assets — 1,681 23,361 — 25,042 Legal reserves, occupancy tax and other — 2,529 — — 2,529 Restructuring and related reorganization charges — 904 3,772 — 4,676 Intercompany (income) expense, net — 163,018 (163,018 ) — — Operating income (loss) — (60,858 ) 9,857 — (51,001 ) Other income (expense): Equity in pre-tax earnings of consolidated subsidiaries 61,077 67,180 — (128,257 ) — Other, net (26,859 ) 52,297 57,214 — 82,652 Total other income, net 34,218 119,477 57,214 (128,257 ) 82,652 Income before income taxes 34,218 58,619 67,071 (128,257 ) 31,651 Provision for income taxes 9,925 4,759 (13,774 ) — 910 Net income 44,143 63,378 53,297 (128,257 ) 32,561 Net loss attributable to noncontrolling interests — — 11,582 — 11,582 Net income attributable to Expedia, Inc. $ 44,143 $ 63,378 $ 64,879 $ (128,257 ) $ 44,143 Comprehensive income (loss) attributable to Expedia, Inc. $ 44,143 $ 63,555 $ (36,004 ) $ (128,257 ) $ (56,563 ) CONDENSED CONSOLIDATING BALANCE SHEET March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) ASSETS Total current assets $ 248,570 $ 3,054,178 $ 1,468,140 $ (974,756 ) $ 3,796,132 Investment in subsidiaries 8,362,605 2,085,547 — (10,448,152 ) — Intangible assets, net — 2,070,003 668,958 — 2,738,961 Goodwill — 6,782,456 1,243,896 — 8,026,352 Other assets, net 1,965 1,482,833 352,961 (9,160 ) 1,828,599 TOTAL ASSETS $ 8,613,140 $ 15,475,017 $ 3,733,955 $ (11,432,068 ) $ 16,390,044 LIABILITIES AND STOCKHOLDERS’ EQUITY Total current liabilities $ 706,440 $ 6,418,560 $ 807,716 $ (974,756 ) $ 6,957,960 Long-term debt 3,209,491 — — — 3,209,491 Other liabilities — 660,277 204,283 (9,160 ) 855,400 Redeemable noncontrolling interests — — 669,984 — 669,984 Stockholders’ equity 4,697,209 8,396,180 2,051,972 (10,448,152 ) 4,697,209 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 8,613,140 $ 15,475,017 $ 3,733,955 $ (11,432,068 ) $ 16,390,044 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) ASSETS Total current assets $ 230,840 $ 2,261,450 $ 1,201,064 $ (717,093 ) $ 2,976,261 Investment in subsidiaries 8,420,890 3,106,719 — (11,527,609 ) — Intangible assets, net — 1,974,968 818,986 — 2,793,954 Goodwill — 5,859,457 2,133,484 — 7,992,941 Other assets, net 33 1,381,837 354,482 (13,833 ) 1,722,519 TOTAL ASSETS $ 8,651,763 $ 14,584,431 $ 4,508,016 $ (12,258,535) $ 15,485,675 LIABILITIES AND STOCKHOLDERS’ EQUITY Total current liabilities $ 538,856 $ 5,511,639 $ 592,615 $ (717,093) $ 5,926,017 Long-term debt 3,183,140 — — — 3,183,140 Other liabilities — 620,685 181,421 (13,833 ) 788,273 Redeemable noncontrolling interests — — 658,478 — 658,478 Stockholders’ equity 4,929,767 8,452,107 3,075,502 (11,527,609 ) 4,929,767 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 8,651,763 $ 14,584,431 $ 4,508,016 $ (12,258,535) $ 15,485,675 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Three months ended March 31, 2016 Parent Guarantor Non-Guarantor Consolidated (In thousands) Operating activities: Net cash provided by operating activities $ — $ 884,715 $ 214,548 $ 1,099,263 Investing activities: Capital expenditures, including internal-use software and website development — (146,189 ) (21,389 ) (167,578 ) Transfers (to) from related parties — (99,919 ) 99,919 — Sales and maturities of investments — 8,215 — 8,215 Other, net — (2,102 ) 2,230 128 Net cash provided by (used in) investing activities — (239,995 ) 80,760 (159,235 ) Financing activities: Payment of HomeAway Convertible Notes — (400,443 ) — (400,443 ) Purchases of treasury stock (187,022 ) — — (187,022 ) Transfers (to) from related parties 191,665 (46,791 ) (144,874 ) — Other, net (4,643 ) (11,783 ) — (16,426 ) Net cash used in financing activities — (459,017 ) (144,874 ) (603,891 ) Effect of exchange rate changes on cash and cash equivalents — 28,539 22,354 50,893 Net increase in cash and cash equivalents — 214,242 172,788 387,030 Cash and cash equivalents at beginning of the period — 841,696 834,603 1,676,299 Cash and cash equivalents at end of the period $ — $ 1,055,938 $ 1,007,391 $ 2,063,329 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Three months ended March 31, 2015 Parent Guarantor Non-Guarantor Consolidated (In thousands) Operating activities: Net cash provided by operating activities $ — $ 1,045,143 $ 5,921 $ 1,051,064 Investing activities: Capital expenditures, including internal-use software and website development — (95,079 ) (7,571 ) (102,650 ) Purchases of investments — (298,252 ) (47,791 ) (346,043 ) Sales and maturities of investments — 72,983 56,036 129,019 Acquisitions, net of cash acquired — (273,000 ) (53,088 ) (326,088 ) Other, net — 16,907 1,807 18,714 Net cash used in investing activities — (576,441 ) (50,607 ) (627,048 ) Financing activities: Purchases of treasury stock (44,923 ) — — (44,923 ) Transfers (to) from related parties 29,247 (119,332 ) 90,085 — Other, net 15,676 (9,240 ) 11,823 18,259 Net cash provided by (used in) financing activities — (128,572 ) 101,908 (26,664 ) Effect of exchange rate changes on cash and cash equivalents — (36,192 ) (28,577 ) (64,769 ) Net increase in cash and cash equivalents — 303,938 28,645 332,583 Cash and cash equivalents at beginning of period — 943,976 458,724 1,402,700 Cash and cash equivalents at end of period $ — $ 1,247,914 $ 487,369 $ 1,735,283

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2016
Basis of Presentation	Basis of Presentation These accompanying financial statements present our results of operations, financial position and cash flows on a consolidated basis. The unaudited consolidated financial statements include Expedia, Inc., our wholly-owned subsidiaries, and entities we control, or in which we have a variable interest and are the primary beneficiary of expected cash profits or losses. We have eliminated significant intercompany transactions and accounts. We have prepared the accompanying unaudited consolidated financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial reporting. We have included all adjustments necessary for a fair presentation of the results of the interim period. These adjustments consist of normal recurring items. Our interim unaudited consolidated financial statements are not necessarily indicative of results that may be expected for any other interim period or for the full year. These interim unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2015, previously filed with the Securities and Exchange Commission.
Accounting Estimates	Accounting Estimates We use estimates and assumptions in the preparation of our interim unaudited consolidated financial statements in accordance with GAAP. Our estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of our interim unaudited consolidated financial statements. These estimates and assumptions also affect the reported amount of net income or loss during any period. Our actual financial results could differ significantly from these estimates. The significant estimates underlying our interim unaudited consolidated financial statements include revenue recognition; recoverability of current and long-lived assets, intangible assets and goodwill; income and transactional taxes, such as potential settlements related to occupancy and excise taxes; loss contingencies; loyalty program liabilities; redeemable noncontrolling interests; acquisition purchase price allocations; stock-based compensation and accounting for derivative instruments.
Reclassifications	Reclassifications We have reclassified certain amounts related to our prior period results to conform to our current period presentation.
Recently Adopted Accounting Policies	Recently Adopted Accounting Policies As of January 1, 2016, we adopted the Accounting Standard Update (“ASU”) requiring debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Upon adoption, we retroactively restated deferred issuance costs from current and long-term assets to the respective debt liability. The adoption of this guidance and prior fiscal year reclassifications did not have a material impact on our previously reported consolidated financial statements. As of January 1, 2016, we prospectively adopted the ASU clarifying the accounting for fees paid by a customer in a cloud computing arrangement. This standard clarified whether a customer should account for a cloud computing arrangement as an acquisition of a software license or as a service arrangement by providing characteristics that a cloud computing arrangement must have in order to be accounted for as a software license acquisition. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If the arrangement does not include a software license, the customer should account for a cloud computing arrangement as a service contract. The adoption of this new guidance did not have a material impact on our consolidated financial statements.
Recent Accounting Policies Not Yet Adopted	Recent Accounting Policies Not Yet Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued an ASU amending revenue recognition guidance and requiring more detailed disclosures to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. In August 2015, the FASB issued an ASU deferring the effective date of the revenue standard so it would be effective for annual and interim reporting periods beginning after December 15, 2017, with early adoption prohibited before December 15, 2016. We are in the process of evaluating the impact of the adoption of this new guidance on our consolidated financial statements. In January 2016, the FASB issued new guidance related to accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The new standard is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. We are in the process of evaluating the impact of adopting this new guidance on our consolidated financial statements. In February 2016, the FASB issued new guidance related to accounting and reporting guidelines for leasing arrangements. The new guidance requires organizations that lease assets to recognize assets and liabilities on the balance sheet related to the rights and obligations created by those leases regardless of whether they are classified as finance or operating leases. Consistent with current guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease primarily will depend on its classification as a finance or operating lease. The guidance also requires new disclosures to help financial statement users better understand the amount, timing and uncertainty of cash flows arising from leases. This guidance is effective for annual and interim reporting periods beginning after December 15, 2018. Early adoption is permitted and should be applied using a modified retrospective approach. We are in the process of evaluating the impact of adopting this new guidance on our consolidated financial statements. In March 2016, the FASB issued new guidance related to accounting for share-based payments. The updated guidance changes how companies account for certain aspects of share-based payments awards to employees, including the accounting for income taxes, forfeitures, and statuatory tax withholding requirements, as well as classification in the statement of cash flows. The guidance is effective for annual and interim reporting periods beginning after December 15, 2016, with early adoption permitted. We are in the process of evaluating the impact of adopting this new guidance on our consolidated financial statements.
Fair Value Measurements	We classify our cash equivalents and investments within Level 1 and Level 2 as we value our cash equivalents and investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs. Valuation of the foreign currency forward contracts is based on foreign currency exchange rates in active markets, a Level 2 input. As of March 31, 2016 and December 31, 2015, our cash and cash equivalents consisted primarily of prime institutional money market funds with maturities of three months or less, time deposits as well as bank account balances. We invest in investment grade corporate debt securities, all of which are classified as available for sale. As of March 31, 2016, we had $29 million of short-term and $62 million of long-term available for sale investments and the amortized cost basis of the investments approximated their fair value with gross unrealized gains and gross unrealized losses both of less than $1 million. As of December 31, 2015, we had $34 million of short-term and $65 million of long-term available for sale investments and the amortized cost basis of the investments approximated their fair value with both gross unrealized gains and gross unrealized losses of less than $1 million. We also hold time deposit investments with financial institutions. Time deposits with original maturities of less than three months are classified as cash equivalents and those with remaining maturities of less than one year are classified within short-term investments. Derivative instruments are carried at fair value on our consolidated balance sheets. We use foreign currency forward contracts to economically hedge certain merchant revenue exposures, foreign denominated liabilities related to certain of our loyalty programs and our other foreign currency-denominated operating liabilities. Our goal in managing our foreign exchange risk is to reduce, to the extent practicable, our potential exposure to the changes that exchange rates might have on our earnings, cash flows and financial position. Our foreign currency forward contracts are typically short-term and, as they do not qualify for hedge accounting treatment, we classify the changes in their fair value in other, net. As of March 31, 2016, we were party to outstanding forward contracts hedging our liability and revenue exposures with a total net notional value of $2.3 billion. We had a net forward liability of $16 million as of March 31, 2016 recorded in accrued expenses and other current liabilities and a net forward asset of $8 million as of December 31, 2015 recorded in prepaid expenses and other current assets. We recorded $26 million in net losses and $19 million in net gains from foreign currency forward contracts during the three months ended March 31, 2016 and 2015.

Acquisitions and Other Invest25

Acquisitions and Other Investments (Tables)	3 Months Ended
	Mar. 31, 2016
Acquisitions During Period
Schedule of Purchase Price Allocation	The following summarizes the allocation of the purchase price for our first quarter of 2015 acquisitions, including Travelocity and a controlling interest in our former 50/50 joint venture with AirAsia Berhad, in thousands: Goodwill $ 190,190 Intangible assets with indefinite lives 163,400 Intangible assets with definite lives (1) 140,285 Net assets and non-controlling interests acquired (2) (20,619 ) Deferred tax liabilities (7,910 ) Total (3) $ 465,346 (1) Acquired definite-lived intangible assets primarily consist of customer relationship, reacquired right and supplier relationship assets and have estimated useful lives of between 4 and 10 years with a weighted average life of 5.7 years. (2) Includes cash acquired of $41 million. (3) The total purchase price includes noncash consideration of $99 million related to an equity method investment, which was consolidated upon our acquisition of a controlling interest, with the remainder paid in cash during the period.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	Financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2016 are classified using the fair value hierarchy in the table below: Total Level 1 Level 2 (In thousands) Assets Cash equivalents: Money market funds $ 265,633 $ 265,633 $ — Time deposits 94,901 — 94,901 Investments: Corporate debt securities 90,502 — 90,502 Total assets $ 451,036 $ 265,633 $ 185,403 Liabilities Derivatives: Foreign currency forward contracts $ 15,602 $ — $ 15,602 Financial assets measured at fair value on a recurring basis as of December 31, 2015 are classified using the fair value hierarchy in the table below: Total Level 1 Level 2 (In thousands) Assets Cash equivalents: Money market funds $ 218,340 $ 218,340 $ — Time deposits 29,126 — 29,126 Derivatives: — Foreign currency forward contracts 8,045 — 8,045 Investments: Corporate debt securities 98,403 — 98,403 Total assets $ 353,914 $ 218,340 $ 135,574

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Long Term Debt Outstanding	The following table sets forth our outstanding debt: March 31, December 31, (In thousands) 7.456% senior notes due 2018 $ 500,000 $ 500,000 5.95% senior notes due 2020 746,416 746,216 2.5% (€650 million) senior notes due 2022 729,285 703,254 4.5% senior notes due 2024 493,964 493,797 5.0% senior notes due 2026 739,826 739,873 Long-term debt (1) $ 3,209,491 $ 3,183,140 (1) Net of applicable discounts and debt issuance costs.
Fair Value, Inputs, Level 2
Long Term Debt Outstanding	The following table sets forth the approximate fair value of our outstanding debt, which is based on quoted market prices in less active markets (Level 2 inputs): March 31, December 31, (In thousands) 7.456% senior notes due 2018 $ 554,000 $ 555,000 5.95% senior notes due 2020 829,000 827,000 2.5% (€650 million) senior notes due 2022 (1) 735,000 705,000 4.5% senior notes due 2024 515,000 487,000 5.0% senior notes due 2026 752,000 750,000 (1) Approximately 648 million Euro as of March 31, 2016 and 644 million Euro as of December 31, 2015.

Redeemable Noncontrolling Int28

Redeemable Noncontrolling Interests (Tables)	3 Months Ended
	Mar. 31, 2016
Reconciliation of Redeemable Noncontrolling Interest	A reconciliation of redeemable noncontrolling interest is as follows: Three months ended 2016 Balance, beginning of the period $ 658,478 Net loss attributable to noncontrolling interests (11 ) Fair value adjustments (22,483 ) Currency translation adjustments and other 34,000 Balance, end of period $ 669,984

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2016
Summary Of Dividends Declared	The Executive Committee, acting on behalf of the Board of Directors, declared the following dividends during the periods presented: Declaration Date Dividend Record Date Total Amount Payment Date February 8, 2016 $ 0.24 March 10, 2016 $ 36,174 March 30, 2016 February 4, 2015 $ 0.18 March 10, 2015 $ 22,895 March 26, 2015
Accumulated Other Comprehensive Loss , Net of Taxes	The balance for each class of accumulated other comprehensive loss as of March 31, 2016 and December 31, 2015 is as follows: March 31, December 31, (In thousands) Foreign currency translation adjustments, net of tax (1) $ (287,715 ) $ (284,767 ) Net unrealized gain (loss) on available for sale securities, net of tax 347 (127 ) Accumulated other comprehensive loss $ (287,368 ) $ (284,894 ) (1) Foreign currency translation adjustments, net of tax, includes foreign currency transaction losses at March 31, 2016 of $17 million ($28 million before tax) and December 31, 2015 of $1 million ($2 million before tax) associated with our 2.5% Notes. The 2.5% Notes are Euro-denominated debt designated as hedges of certain of our Euro-denominated net assets. See Note 5 – Debt for more information. The remaining balance in currency translation adjustments excludes income taxes as a result of our current intention to indefinitely reinvest the earnings of our international subsidiaries outside of the United States.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Basic and Diluted Earnings Per Share	The following table presents our basic and diluted earnings per share: Three months ended March 31, 2016 2015 (In thousands, except per share data) Net income (loss) attributable to Expedia, Inc. $ (121,861 ) $ 44,143 Earnings (loss) per share attributable to Expedia, Inc. available to common stockholders: Basic $ (0.81 ) $ 0.35 Diluted (0.81 ) 0.34 Weighted average number of shares outstanding: Basic 151,052 127,563 Dilutive effect of: Options to purchase common stock — 3,727 Other dilutive securities — 112 Diluted 151,052 131,402

Restructuring and Related Reo31

Restructuring and Related Reorganization Charges (Tables)	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Reorganization Activity	The following table summarizes the restructuring and related reorganization activity for the three months ended March 31, 2016: Employee Stock-based Other Total (In thousands) Accrued liability as of January 1, 2016 $ 45,889 $ — $ 1,123 $ 47,012 Charges 15,783 11,173 2,847 29,803 Payments (26,097 ) — (1,434 ) (27,531 ) Non-cash items 375 (11,173 ) — (10,798 ) Accrued liability as of March 31, 2016 $ 35,950 $ — $ 2,536 $ 38,486

Other, net (Tables)

Other, net (Tables)	3 Months Ended
	Mar. 31, 2016
Components of Other Income (Expense)	The following table presents the components of other, net: For the Three Months Ended 2016 2015 (In thousands) Foreign exchange rate gains ( $ (18,835 ) $ 14,155 Noncontrolling investment basis adjustment — 79,476 Other (9,360 ) 11,470 Total $ (28,195 ) $ 105,101

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
Operating Segment Information	The following tables present our segment information for the three months ended March 31, 2016 and March 31, 2015. As a significant portion of our property and equipment is not allocated to our operating segments and depreciation is not included in our segment measure, we do not report the assets by segment as it would not be meaningful. We do not regularly provide such information to our chief operating decision makers. Three months ended March 31, 2016 Core OTA trivago Egencia HomeAway (1) Corporate & Total (In thousands) Third-party revenue $ 1,539,856 $ 112,062 $ 109,849 $ 142,194 $ — $ 1,903,961 Intersegment revenue — 64,108 — — (64,108 ) — Revenue $ 1,539,856 $ 176,170 $ 109,849 $ 142,194 $ (64,108 ) $ 1,903,961 Adjusted EBITDA $ 292,356 $ 7,706 $ 15,361 $ 17,314 $ (156,185 ) $ 176,552 Depreciation (58,818 ) (785 ) (6,847 ) (3,659 ) (35,146 ) (105,255 ) Amortization of intangible assets — — — — (89,999 ) (89,999 ) Stock-based compensation — — — — (53,965 ) (53,965 ) Legal reserves, occupancy tax and other — — — — (1,974 ) (1,974 ) Restructuring and related reorganization charges — — — — (18,630 ) (18,630 ) Realized (gain) loss on revenue hedges (9,084 ) — — — — (9,084 ) Operating income (loss) $ 224,454 $ 6,921 $ 8,514 $ 13,655 $ (355,899 ) (102,355 ) Other expense, net (68,588 ) Loss before income taxes (170,943 ) Provision for income taxes 49,139 Net loss (121,804 ) Net income attributable to noncontrolling interests (57 ) Net loss attributable to Expedia, Inc. $ (121,861 ) Three months ended March 31, 2015 Core OTA trivago Egencia eLong (2) Corporate & Total (In thousands) Third-party revenue $ 1,169,935 $ 72,050 $ 97,845 $ 33,567 $ — $ 1,373,397 Intersegment revenue — 47,075 — — (47,075 ) — Revenue $ 1,169,935 $ 119,125 $ 97,845 $ 33,567 $ (47,075 ) $ 1,373,397 Adjusted EBITDA $ 219,298 $ 5,046 $ 19,796 $ (33,252 ) $ (109,125 ) $ 101,763 Depreciation (40,611 ) (402 ) (5,642 ) (2,055 ) (25,735 ) (74,445 ) Amortization of intangible assets — — — — (25,042 ) (25,042 ) Stock-based compensation — — — — (28,886 ) (28,886 ) Legal reserves, occupancy tax and other — — — — (2,529 ) (2,529 ) Restructuring and related reorganization charges — — — — (4,676 ) (4,676 ) Realized (gain) loss on revenue hedges (17,186 ) — — — — (17,186 ) Operating income (loss) $ 161,501 $ 4,644 $ 14,154 $ (35,307 ) $ (195,993 ) (51,001 ) Other income, net 82,652 Income before income taxes 31,651 Provision for income taxes 910 Net income 32,561 Net loss attributable to noncontrolling interests 11,582 Net income attributable to Expedia, Inc. $ 44,143 (1) Includes results since our acquisition of HomeAway on December 15, 2015. (2) Includes results of eLong, which was disposed on May 22, 2015.

Guarantor and Non-Guarantor S34

Guarantor and Non-Guarantor Supplemental Financial Information (Tables)	3 Months Ended
	Mar. 31, 2016
Schedule of Statement of Operations Information	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three months ended March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) Revenue $ — $ 1,473,883 $ 492,308 $ (62,230 ) $ 1,903,961 Costs and expenses: Cost of revenue — 318,332 87,612 (3,103 ) 402,841 Selling and marketing — 728,772 371,047 (59,212 ) 1,040,607 Technology and content — 219,505 73,707 71 293,283 General and administrative — 95,371 52,424 14 147,809 Amortization of intangible assets — 55,829 34,170 — 89,999 Legal reserves, occupancy tax and other — 1,974 — — 1,974 Restructuring and related reorganization charges — 20,259 9,544 — 29,803 Intercompany (income) expense, net — 175,689 (175,689 ) — — Operating income (loss) — (141,848 ) 39,493 — (102,355 ) Other income (expense): Equity in pre-tax earnings (losses) of consolidated subsidiaries (95,875 ) 45,116 — 50,759 — Other, net (41,216 ) (41,268 ) 13,896 — (68,588 ) Total other income (loss), net (137,091 ) 3,848 13,896 50,759 (68,588 ) Income (loss) before income taxes (137,091 ) (138,000 ) 53,389 50,759 (170,943 ) Provision for income taxes 15,230 44,587 (10,678 ) — 49,139 Net income (loss) (121,861 ) (93,413 ) 42,711 50,759 (121,804 ) Net income attributable to noncontrolling interests — — (57 ) — (57 ) Net income (loss) attributable to Expedia, Inc. $ (121,861 ) $ (93,413 ) $ 42,654 $ 50,759 $ (121,861 ) Comprehensive income (loss) attributable to Expedia, Inc. $ (138,094 ) $ (92,477 ) $ 55,478 $ 50,759 $ (124,334 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS Three months ended March 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) Revenue $ — $ 1,068,340 $ 349,223 $ (44,166 ) $ 1,373,397 Costs and expenses: Cost of revenue — 240,188 82,700 (970 ) 321,918 Selling and marketing — 520,759 285,980 (43,358 ) 763,381 Technology and content — 129,923 60,515 17 190,455 General and administrative — 70,196 46,056 145 116,397 Amortization of intangible assets — 1,681 23,361 — 25,042 Legal reserves, occupancy tax and other — 2,529 — — 2,529 Restructuring and related reorganization charges — 904 3,772 — 4,676 Intercompany (income) expense, net — 163,018 (163,018 ) — — Operating income (loss) — (60,858 ) 9,857 — (51,001 ) Other income (expense): Equity in pre-tax earnings of consolidated subsidiaries 61,077 67,180 — (128,257 ) — Other, net (26,859 ) 52,297 57,214 — 82,652 Total other income, net 34,218 119,477 57,214 (128,257 ) 82,652 Income before income taxes 34,218 58,619 67,071 (128,257 ) 31,651 Provision for income taxes 9,925 4,759 (13,774 ) — 910 Net income 44,143 63,378 53,297 (128,257 ) 32,561 Net loss attributable to noncontrolling interests — — 11,582 — 11,582 Net income attributable to Expedia, Inc. $ 44,143 $ 63,378 $ 64,879 $ (128,257 ) $ 44,143 Comprehensive income (loss) attributable to Expedia, Inc. $ 44,143 $ 63,555 $ (36,004 ) $ (128,257 ) $ (56,563 )
Schedule of Balance Sheet Information	CONDENSED CONSOLIDATING BALANCE SHEET March 31, 2016 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) ASSETS Total current assets $ 248,570 $ 3,054,178 $ 1,468,140 $ (974,756 ) $ 3,796,132 Investment in subsidiaries 8,362,605 2,085,547 — (10,448,152 ) — Intangible assets, net — 2,070,003 668,958 — 2,738,961 Goodwill — 6,782,456 1,243,896 — 8,026,352 Other assets, net 1,965 1,482,833 352,961 (9,160 ) 1,828,599 TOTAL ASSETS $ 8,613,140 $ 15,475,017 $ 3,733,955 $ (11,432,068 ) $ 16,390,044 LIABILITIES AND STOCKHOLDERS’ EQUITY Total current liabilities $ 706,440 $ 6,418,560 $ 807,716 $ (974,756 ) $ 6,957,960 Long-term debt 3,209,491 — — — 3,209,491 Other liabilities — 660,277 204,283 (9,160 ) 855,400 Redeemable noncontrolling interests — — 669,984 — 669,984 Stockholders’ equity 4,697,209 8,396,180 2,051,972 (10,448,152 ) 4,697,209 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 8,613,140 $ 15,475,017 $ 3,733,955 $ (11,432,068 ) $ 16,390,044 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2015 Parent Guarantor Non-Guarantor Eliminations Consolidated (In thousands) ASSETS Total current assets $ 230,840 $ 2,261,450 $ 1,201,064 $ (717,093 ) $ 2,976,261 Investment in subsidiaries 8,420,890 3,106,719 — (11,527,609 ) — Intangible assets, net — 1,974,968 818,986 — 2,793,954 Goodwill — 5,859,457 2,133,484 — 7,992,941 Other assets, net 33 1,381,837 354,482 (13,833 ) 1,722,519 TOTAL ASSETS $ 8,651,763 $ 14,584,431 $ 4,508,016 $ (12,258,535) $ 15,485,675 LIABILITIES AND STOCKHOLDERS’ EQUITY Total current liabilities $ 538,856 $ 5,511,639 $ 592,615 $ (717,093) $ 5,926,017 Long-term debt 3,183,140 — — — 3,183,140 Other liabilities — 620,685 181,421 (13,833 ) 788,273 Redeemable noncontrolling interests — — 658,478 — 658,478 Stockholders’ equity 4,929,767 8,452,107 3,075,502 (11,527,609 ) 4,929,767 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 8,651,763 $ 14,584,431 $ 4,508,016 $ (12,258,535) $ 15,485,675
Schedule of Cash Flow Statement Information	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Three months ended March 31, 2016 Parent Guarantor Non-Guarantor Consolidated (In thousands) Operating activities: Net cash provided by operating activities $ — $ 884,715 $ 214,548 $ 1,099,263 Investing activities: Capital expenditures, including internal-use software and website development — (146,189 ) (21,389 ) (167,578 ) Transfers (to) from related parties — (99,919 ) 99,919 — Sales and maturities of investments — 8,215 — 8,215 Other, net — (2,102 ) 2,230 128 Net cash provided by (used in) investing activities — (239,995 ) 80,760 (159,235 ) Financing activities: Payment of HomeAway Convertible Notes — (400,443 ) — (400,443 ) Purchases of treasury stock (187,022 ) — — (187,022 ) Transfers (to) from related parties 191,665 (46,791 ) (144,874 ) — Other, net (4,643 ) (11,783 ) — (16,426 ) Net cash used in financing activities — (459,017 ) (144,874 ) (603,891 ) Effect of exchange rate changes on cash and cash equivalents — 28,539 22,354 50,893 Net increase in cash and cash equivalents — 214,242 172,788 387,030 Cash and cash equivalents at beginning of the period — 841,696 834,603 1,676,299 Cash and cash equivalents at end of the period $ — $ 1,055,938 $ 1,007,391 $ 2,063,329 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Three months ended March 31, 2015 Parent Guarantor Non-Guarantor Consolidated (In thousands) Operating activities: Net cash provided by operating activities $ — $ 1,045,143 $ 5,921 $ 1,051,064 Investing activities: Capital expenditures, including internal-use software and website development — (95,079 ) (7,571 ) (102,650 ) Purchases of investments — (298,252 ) (47,791 ) (346,043 ) Sales and maturities of investments — 72,983 56,036 129,019 Acquisitions, net of cash acquired — (273,000 ) (53,088 ) (326,088 ) Other, net — 16,907 1,807 18,714 Net cash used in investing activities — (576,441 ) (50,607 ) (627,048 ) Financing activities: Purchases of treasury stock (44,923 ) — — (44,923 ) Transfers (to) from related parties 29,247 (119,332 ) 90,085 — Other, net 15,676 (9,240 ) 11,823 18,259 Net cash provided by (used in) financing activities — (128,572 ) 101,908 (26,664 ) Effect of exchange rate changes on cash and cash equivalents — (36,192 ) (28,577 ) (64,769 ) Net increase in cash and cash equivalents — 303,938 28,645 332,583 Cash and cash equivalents at beginning of period — 943,976 458,724 1,402,700 Cash and cash equivalents at end of period $ — $ 1,247,914 $ 487,369 $ 1,735,283

Summary of Fair Value of Assets

Summary of Fair Value of Assets Acquired and Liabilities Assumed in Conjunction with Acquisition (Detail) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Business Acquisition [Line Items]
Goodwill		$ 8,026,352	$ 7,992,941
Acquisitions During Period
Business Acquisition [Line Items]
Goodwill				$ 190,190
Intangible assets with indefinite lives				163,400
Intangible assets with definite lives	[1]			140,285
Net assets and non-controlling interests acquired	[2]			(20,619)
Deferred tax liabilities, net				(7,910)
Total	[3]			$ 465,346
[1]	Acquired definite-lived intangible assets primarily consist of customer relationship, reacquired right and supplier relationship assets and have estimated useful lives of between 4 and 10 years with a weighted average life of 5.7 years.
[2]	Includes cash acquired of $41 million.
[3]	The total purchase price includes noncash consideration of $99 million related to an equity method investment, which was consolidated upon our acquisition of a controlling interest, with the remainder paid in cash during the period.

Summary of Fair Value of Asse36

Summary of Fair Value of Assets Acquired and Liabilities Assumed in Conjunction with Acquisition (Parenthetical) (Detail) - Acquisitions During Period $ in Millions	3 Months Ended
	Mar. 31, 2015USD ($)
Business Acquisition [Line Items]
Weighted average life of acquired intangible assets	5 years 8 months 12 days
Business acquisition, cash acquired	$ 41
Equity method investment, non-cash consideration	$ 99
Minimum
Business Acquisition [Line Items]
Estimated useful lives of acquired intangible assets	4 years
Maximum
Business Acquisition [Line Items]
Estimated useful lives of acquired intangible assets	10 years

Acquisitions and Other Invest37

Acquisitions and Other Investments - Additional Information (Detail) $ in Millions	Mar. 10, 2015USD ($)
Decolar.com, Inc.
Business Acquisitions And Investments [Line Items]
Cost method investment	$ 270

Financial Assets and Liabilitie

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Recurring Basis - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 451,036	$ 353,914
Foreign Exchange Forward Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contracts, Liabilities	15,602
Foreign currency forward contracts, Assets		8,045
Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	265,633	218,340
Time Deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	94,901	29,126
Corporate Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	90,502	98,403
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	265,633	218,340
Fair Value, Inputs, Level 1 | Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	265,633	218,340
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	185,403	135,574
Fair Value, Inputs, Level 2 | Foreign Exchange Forward Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contracts, Liabilities	15,602
Foreign currency forward contracts, Assets		8,045
Fair Value, Inputs, Level 2 | Time Deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	94,901	29,126
Fair Value, Inputs, Level 2 | Corporate Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 90,502	$ 98,403

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investments, short-term	$ 29,000,000		$ 34,000,000
Available for sale investments, long-term	62,000,000		65,000,000
Gross unrealized gains	1,000,000		1,000,000
Gross unrealized losses	1,000,000		1,000,000
Net gains(losses) from foreign currency forward contracts	(26,000,000)	$ 19,000,000
Foreign Exchange Forward Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional amount of foreign currency derivatives	2,300,000,000
Recurring Basis | Foreign Exchange Forward Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward contracts, Assets			$ 8,045,000
Foreign currency forward contracts, Liabilities	$ 15,602,000

Long Term Debt Outstanding (Det

Long Term Debt Outstanding (Detail) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term debt	[1]	$ 3,209,491	$ 3,183,140
7.456% Senior Notes Due 2018
Debt Instrument [Line Items]
Long-term debt		500,000	500,000
5.95% Senior Notes Due 2020
Debt Instrument [Line Items]
Long-term debt		746,416	746,216
4.5% Senior Notes Due 2024
Debt Instrument [Line Items]
Long-term debt		493,964	493,797
2.5% Senior Notes Due 2022
Debt Instrument [Line Items]
Long-term debt		729,285	703,254
5.0% Senior Notes Due 2026
Debt Instrument [Line Items]
Long-term debt		$ 739,826	$ 739,873
[1]	Net of applicable discounts and debt issuance costs.

Long Term Debt Outstanding (Par

Long Term Debt Outstanding (Parenthetical) (Detail) - EUR (€) € in Millions	Mar. 31, 2016	Dec. 31, 2015
2.5% Senior Notes Due 2022
Debt Instrument [Line Items]
Senior unsecured notes principal amount	€ 650	€ 650

Debt - Additional Information (

Debt - Additional Information (Detail)	Dec. 15, 2015USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Mar. 31, 2016EUR (€)	Dec. 31, 2015EUR (€)
Debt Instrument [Line Items]
Accrued expenses and other current liabilities		$ 989,614,000	$ 989,614,000	$ 1,469,725,000
Other long-term liabilities		328,994,000	328,994,000	314,432,000
Senior Notes
Debt Instrument [Line Items]
Accrued interest related to senior notes		40,000,000	40,000,000	52,000,000
Credit Facility
Debt Instrument [Line Items]
Credit facility		1,500,000,000	$ 1,500,000,000	$ 1,000,000,000
Line of credit facility, expiration date			2021-02	2019-09
Credit facility borrowings outstanding		0	$ 0	$ 0
Interest, on drawn amount			LIBOR plus 137.5 basis points
Commitment fee on undrawn amounts			0.175%
Basis points added to LIBOR rate			1.375%
Letters of credit issued under the credit facility		25,000,000	$ 25,000,000	29,000,000
Uncommitted Credit Facility | International Subsidiary One
Debt Instrument [Line Items]
Credit facility | €					€ 50,000,000
Credit facility borrowings outstanding | €					€ 20,000,000	€ 20,000,000
Uncommitted Credit Facility | International Subsidiary Two
Debt Instrument [Line Items]
Credit facility		5,600,000	5,600,000
Credit facility borrowings outstanding		5,000,000	5,000,000	$ 5,000,000
Home Away Inc
Debt Instrument [Line Items]
Debt, interest rate	0.125%
Debt instrument redemption price percentage	100.00%
Convertible senior notes debt	$ 402,500,000
Convertible senior notes maturity year	2,019
Home Away Inc | Reclassification Adjustment
Debt Instrument [Line Items]
Accrued expenses and other current liabilities		(1,000,000)	(1,000,000)
Other long-term liabilities		1,000,000	1,000,000
Home Away Inc | Convertible Notes Payable
Debt Instrument [Line Items]
Debt, amount repurchased		401,000,000	401,000,000
7.456% Senior Notes Due 2018
Debt Instrument [Line Items]
Senior unsecured notes principal amount		$ 500,000,000	$ 500,000,000
Senior notes, maturity date			2018-08
Debt, interest rate		7.456%	7.456%		7.456%
Debt instrument redemption price percentage			100.00%
Redemption at option of Company			At any time Expedia may redeem the 7.456% Notes at a redemption price of 100% of the principal plus accrued interest, plus a "make-whole" premium, in whole or in part.
5.95% Senior Notes Due 2020
Debt Instrument [Line Items]
Senior unsecured notes principal amount		$ 750,000,000	$ 750,000,000
Senior notes, maturity date			2020-08
Debt, interest rate		5.95%	5.95%		5.95%
Debt instrument redemption price percentage			100.00%
Redemption at option of Company			We may redeem the 5.95% Notes at a redemption price of 100% of the principal plus accrued interest, plus a "make-whole" premium, in whole or in part.
Senior notes issued price percentage		99.893%	99.893%		99.893%
5.95% Senior Notes Due 2020 | Upon the occurrence of certain change of control triggering events
Debt Instrument [Line Items]
Debt instrument redemption price percentage			101.00%
4.5% Senior Notes Due 2024
Debt Instrument [Line Items]
Senior unsecured notes principal amount		$ 500,000,000	$ 500,000,000
Senior notes, maturity date			2024-08
Debt, interest rate		4.50%	4.50%		4.50%
Debt instrument redemption price percentage			100.00%
Redemption at option of Company			We may redeem the 4.5% Notes at our option at any time in whole or from time to time in part. If we elect to redeem the 4.5% Notes prior to May 15, 2024, we may redeem them at a redemption price of 100% of the principal plus accrued interest, plus a "make-whole" premium. If we elect to redeem the 4.5% Notes on or after May 15, 2024, we may redeem them at a redemption price of 100% of the principal plus accrued interest.
Senior notes issued price percentage		99.444%	99.444%		99.444%
4.5% Senior Notes Due 2024 | Upon the occurrence of certain change of control triggering events
Debt Instrument [Line Items]
Debt instrument redemption price percentage			101.00%
2.5% Senior Notes Due 2022
Debt Instrument [Line Items]
Senior unsecured notes principal amount | €					€ 650,000,000	€ 650,000,000
Senior notes, maturity date		2022-06
Debt, interest rate		2.50%	2.50%		2.50%
Debt instrument redemption price percentage		100.00%
Redemption at option of Company			We may redeem the 2.5% Notes at our option, at whole or in part, at any time or from time to time. If we elect to redeem the 2.5% Notes on or after March 3, 2022, we may redeem them at a redemption price of 100% of the principal plus accrued and unpaid interest. Subject to certain limited exceptions, all payments of interest and principal for the 2.5% Notes will be made in Euros.
Senior notes issued price percentage		99.525%	99.525%		99.525%
2.5% Senior Notes Due 2022 | Upon the occurrence of certain change of control triggering events
Debt Instrument [Line Items]
Debt instrument redemption price percentage			101.00%
5.0% Senior Notes Due 2026
Debt Instrument [Line Items]
Senior unsecured notes principal amount		$ 750,000,000	$ 750,000,000
Senior notes, maturity date			2026-02
Debt, interest rate		5.00%	5.00%		5.00%
Debt instrument redemption price percentage			100.00%
Redemption at option of Company			We may redeem the 5.0% Notes at our option at any time in whole or from time to time in part. If we elect to redeem the 5.0% Notes prior to November 12, 2025, we may redeem them at a redemption price of 100% of the principal plus accrued interest, plus a "make-whole" premium. If we elect to redeem the 5.0% Notes on or after November 12, 2025, we may redeem them at a redemption price of 100% of the principal plus accrued interest.
Senior notes issued price percentage		99.535%	99.535%		99.535%
Senior notes, potential incremental interest			0.25%

Fair Value of Outstanding Debt

Fair Value of Outstanding Debt (Detail) $ in Thousands, € in Millions	Mar. 31, 2016USD ($)	Mar. 31, 2016EUR (€)	Dec. 31, 2015USD ($)	Dec. 31, 2015EUR (€)
7.456% Senior Notes Due 2018
Debt Instrument [Line Items]
Fair value of senior notes	$ 554,000		$ 555,000
5.95% Senior Notes Due 2020
Debt Instrument [Line Items]
Fair value of senior notes	829,000		827,000
2.5% Senior Notes Due 2022
Debt Instrument [Line Items]
Fair value of senior notes	735,000	€ 648	705,000	€ 644
4.5% Senior Notes Due 2024
Debt Instrument [Line Items]
Fair value of senior notes	515,000		487,000
5.0% Senior Notes Due 2026
Debt Instrument [Line Items]
Fair value of senior notes	$ 752,000		$ 750,000

Fair Value of Outstanding Deb44

Fair Value of Outstanding Debt (Parenthetical) (Detail) - EUR (€) € in Millions	Mar. 31, 2016	Dec. 31, 2015
2.5% Senior Notes Due 2022
Debt Instrument [Line Items]
Senior unsecured notes principal amount	€ 650	€ 650

Reconciliation of Redeemable No

Reconciliation of Redeemable Noncontrolling Interest (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Redeemable Noncontrolling Interest [Line Items]
Balance, beginning of the period	$ 658,478
Net loss attributable to noncontrolling interests	(11)
Fair value adjustments	(22,483)
Currency translation adjustments and other	34,000
Balance, end of period	$ 669,984

Redeemable Noncontrolling Int46

Redeemable Noncontrolling Interests - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Redeemable Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest	$ 669,984	$ 658,478
Trivago
Redeemable Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest	$ 665,000	$ 654,000
Trivago | During the first quarter of 2016 | Maximum
Redeemable Noncontrolling Interest [Line Items]
Minority shareholders right to sell on remaining shares	50.00%
Trivago | During the first quarter of 2018 | Maximum
Redeemable Noncontrolling Interest [Line Items]
Minority shareholders right to sell on remaining shares	100.00%

Summary of Dividends Declared (

Summary of Dividends Declared (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Dividends Payable [Line Items]
Payment of dividends to stockholders	$ 36,174	$ 22,895
February 8, 2016
Dividends Payable [Line Items]
Declaration Date	Feb. 8, 2016
Dividend Per Share	$ 0.24
Record Date	Mar. 10, 2016
Payment of dividends to stockholders	$ 36,174
Payment Date	Mar. 30, 2016
February 4, 2015
Dividends Payable [Line Items]
Declaration Date	Feb. 4, 2015
Dividend Per Share	$ 0.18
Record Date	Mar. 10, 2015
Payment of dividends to stockholders	$ 22,895
Payment Date	Mar. 26, 2015

Stockholders Equity - Additiona

Stockholders Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Apr. 28, 2016	Mar. 31, 2016	Feb. 28, 2015	Apr. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized share repurchase			10,000,000	20,000,000
Stock repurchased, shares		1,700,000
Stock repurchased, value		$ 183
Average repurchase price per share		$ 108.34
Shares authorized and remaining under the repurchase program		9,600,000
Stock-based awards outstanding		23,000,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards outstanding, options		21,000,000
Stock-based awards outstanding, options, weighted average exercise price		$ 80.49
Stock-based awards outstanding, options, weighted average remaining life		5 years 3 months 18 days
Stock options granted during the period		5,000,000
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards outstanding, RSUs		1,000,000
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased, shares	1,200,000
Stock repurchased, value	$ 129
Average repurchase price per share	$ 106.32
Subsequent Event | Dividend Declared
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Declaration Date	2016-04
Dividend Per Share	$ 0.24
Payment Date	Jun. 16, 2016
Record Date	May 26, 2016

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign currency translation adjustments, net of tax	[1]	$ (287,715)	$ (284,767)
Net unrealized gain (loss) on available for sale securities, net of tax		347	(127)
Accumulated other comprehensive loss		$ (287,368)	$ (284,894)
[1]	Foreign currency translation adjustments, net of tax, includes foreign currency transaction losses at March 31, 2016 of $17 million ($28 million before tax) and December 31, 2015 of $1 million ($2 million before tax) associated with our 2.5% Notes. The 2.5% Notes are Euro-denominated debt designated as hedges of certain of our Euro-denominated net assets. See Note 5 - Debt for more information. The remaining balance in currency translation adjustments excludes income taxes as a result of our current intention to indefinitely reinvest the earnings of our international subsidiaries outside of the United States.

Accumulated Other Comprehensi50

Accumulated Other Comprehensive Loss (Parenthetical) (Detail) - 2.5% Senior Notes Due 2022 - USD ($) $ in Millions	Dec. 31, 2015	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign currency translation losses, net of tax	$ 1	$ 17
Foreign currency translation losses, before tax	$ 2	$ 28

Basic and Diluted Earnings Per

Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share Disclosure [Line Items]
Net income (loss) attributable to Expedia, Inc.	$ (121,861)	$ 44,143
Earnings (loss) per share attributable to Expedia, Inc. available to common stockholders:
Basic	$ (0.81)	$ 0.35
Diluted	$ (0.81)	$ 0.34
Weighted average number of shares outstanding: Basic	151,052	127,563
Options to purchase common stock		3,727
Other dilutive securities		112
Weighted average number of shares outstanding, Diluted	151,052	131,402

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding stock awards excluded from calculations of diluted earnings (loss) per share	23	11

Restructuring and Related Reo53

Restructuring and Related Reorganization Charges - Additional Information (Detail) - USD ($)		3 Months Ended		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring and related reorganization charges	[1]	$ 29,803,000	$ 4,676,000
Scenario, Forecast
Restructuring Cost and Reserve [Line Items]
Expected additional restructuring charges				$ 25,000,000
Maximum | Scenario, Forecast
Restructuring Cost and Reserve [Line Items]
Restructuring and related reorganization charges				$ 55,000,000
[1]	Includes stock-based compensation as follows: Cost of revenue $ 2,679 $ 1,158 Selling and marketing 8,301 6,472 Technology and content 12,350 6,784 General and administrative 19,462 14,472 Restructuring and related reorganization charges 11,173 -

Restructuring and Related Reo54

Restructuring and Related Reorganization Activity (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Restructuring Cost and Reserve [Line Items]
Accrued liability Beginning Balance		$ 47,012
Charges	[1]	29,803	$ 4,676
Payments		(27,531)
Non-cash items		(10,798)
Accrued liability Ending Balance		38,486
Employee Severance and Benefits
Restructuring Cost and Reserve [Line Items]
Accrued liability Beginning Balance		45,889
Charges		15,783
Payments		(26,097)
Non-cash items		375
Accrued liability Ending Balance		35,950
Stock Based Compensation
Restructuring Cost and Reserve [Line Items]
Charges		11,173
Non-cash items		(11,173)
Other
Restructuring Cost and Reserve [Line Items]
Accrued liability Beginning Balance		1,123
Charges		2,847
Payments		(1,434)
Accrued liability Ending Balance		$ 2,536
[1]	Includes stock-based compensation as follows: Cost of revenue $ 2,679 $ 1,158 Selling and marketing 8,301 6,472 Technology and content 12,350 6,784 General and administrative 19,462 14,472 Restructuring and related reorganization charges 11,173 -

Other Income Expense (Detail)

Other Income Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Component Of Other Income And Expense [Line Items]
Foreign exchange rate gains (losses), net	$ (18,835)	$ 14,155
Noncontrolling investment basis adjustment		79,476
Other	(9,360)	11,470
Total	$ (28,195)	$ 105,101

Other, net - Additional Informa

Other, net - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2015USD ($)
Component Of Other Income And Expense [Line Items]
Noncontrolling investment basis adjustment	$ 79,476
AAE Travel Private Limited
Component Of Other Income And Expense [Line Items]
Noncontrolling investment basis adjustment	$ 79,476

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Taxes [Line Items]
Effective interest rate of federal statutory income tax rate		35.00%
Effective tax rate	28.70%	(2.90%)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	1 Months Ended		3 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)	May. 31, 2014USD ($)	Mar. 31, 2016USD ($)LegalMatter	Dec. 31, 2013USD ($)	Dec. 31, 2009USD ($)	Dec. 31, 2015USD ($)
Litigation relating to occupancy tax
Commitment And Contingencies [Line Items]
Number of lawsuits filed by cities, counties and states involving hotel occupancy taxes | LegalMatter			94
Number of lawsuits currently active | LegalMatter			22
Number of lawsuits dismissed to date | LegalMatter			39
Number of dismissals based on finding that defendant was not subject to local hotel occupancy tax or the local government lacked standing to pursue claims | LegalMatter			25
Reserve for legal contingencies			$ 45			$ 43
HAWAII | Litigation Related to Other Taxes
Commitment And Contingencies [Line Items]
Pay-to-play occupancy and other tax payments				$ 171
Tax refunds received	$ 132
Tax paid, net of refunds			44
HAWAII | Litigation Related to Other Taxes | Orbitz Worldwide, Inc.
Commitment And Contingencies [Line Items]
Tax refunds received	$ 22
HAWAII | Tax Year 2012 | Litigation Related to Other Taxes
Commitment And Contingencies [Line Items]
Tax assessments			26
HAWAII | Tax Year 2012 | Litigation Related to Other Taxes | Orbitz Worldwide, Inc.
Commitment And Contingencies [Line Items]
Tax assessments			6
HAWAII | 2000 through 2012 | Litigation Related to Other Taxes
Commitment And Contingencies [Line Items]
Tax assessments			39
HAWAII | 2000 through 2012 | Litigation Related to Other Taxes | Orbitz Worldwide, Inc.
Commitment And Contingencies [Line Items]
Tax assessments			10
HAWAII | 2000 through 2012 | Duplicative Assessment | Litigation Related to Other Taxes
Commitment And Contingencies [Line Items]
Tax assessments			9.3
HAWAII | Tax Year 2013 | Litigation Related to Other Taxes
Commitment And Contingencies [Line Items]
Tax assessments			34
HAWAII | Tax Year 2013 | Litigation Related to Other Taxes | Orbitz Worldwide, Inc.
Commitment And Contingencies [Line Items]
Tax assessments			5
HAWAII | 2000 through 2014 | Litigation Related to Other Taxes Agency
Commitment And Contingencies [Line Items]
Tax assessments			12
City of San Francisco
Commitment And Contingencies [Line Items]
Pay-to-play occupancy and other tax payments		$ 25.5			$ 48
City of San Francisco | Orbitz Worldwide, Inc.
Commitment And Contingencies [Line Items]
Pay-to-play occupancy and other tax payments, paid to date			$ 4.6

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	Mar. 24, 2016	Mar. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Percentage of board members to be elected by separate class votes		25.00%
Credit Facility
Related Party Transaction [Line Items]
Unsecured revolving credit facility		$ 1,500,000,000	$ 1,000,000,000
Reimbursement Agreement | Liberty Interactive and Liberty Expedia Holdings | 7.456% Senior Notes Due 2018
Related Party Transaction [Line Items]
Senior notes, maturity year	2,018
Reimbursement Agreement | Liberty Interactive and Liberty Expedia Holdings | 5.95% Senior Notes Due 2020
Related Party Transaction [Line Items]
Senior notes, maturity year	2,020
Reimbursement Agreement | Liberty Interactive and Liberty Expedia Holdings | Credit Facility
Related Party Transaction [Line Items]
Unsecured revolving credit facility	$ 1,500,000,000
Reimbursement Agreement | Liberty Interactive and Liberty Expedia Holdings | Maximum
Related Party Transaction [Line Items]
Reimbursement obligations	$ 45,000,000

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016Segment
Segment Reporting Information [Line Items]
Number of reportable segments	4

Segment Information (Detail)

Segment Information (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Third-party revenue		$ 1,903,961	$ 1,373,397
Revenue		1,903,961	1,373,397
Adjusted EBITDA		176,552	101,763
Depreciation		(105,255)	(74,445)
Amortization of intangible assets		(89,999)	(25,042)
Stock-based compensation		(53,965)	(28,886)
Legal reserves, occupancy tax and other		(1,974)	(2,529)
Restructuring and related reorganization charges		(18,630)	(4,676)
Realized (gain) loss on revenue hedges		(9,084)	(17,186)
Operating income (loss)		(102,355)	(51,001)
Other income (expense), net		(68,588)	82,652
Income (loss) before income taxes		(170,943)	31,651
Provision for income taxes		49,139	910
Net income (loss)		(121,804)	32,561
Net income (loss) attributable to noncontrolling interests		(57)	11,582
Net income (loss) attributable to Expedia, Inc.		(121,861)	44,143
Corporate & Eliminations
Segment Reporting Information [Line Items]
Intersegment revenue		(64,108)	(47,075)
Revenue		(64,108)	(47,075)
Adjusted EBITDA		(156,185)	(109,125)
Depreciation		(35,146)	(25,735)
Amortization of intangible assets		(89,999)	(25,042)
Stock-based compensation		(53,965)	(28,886)
Legal reserves, occupancy tax and other		(1,974)	(2,529)
Restructuring and related reorganization charges		(18,630)	(4,676)
Operating income (loss)		(355,899)	(195,993)
Core OTAs | Operating Segments
Segment Reporting Information [Line Items]
Third-party revenue		1,539,856	1,169,935
Revenue		1,539,856	1,169,935
Adjusted EBITDA		292,356	219,298
Depreciation		(58,818)	(40,611)
Realized (gain) loss on revenue hedges		(9,084)	(17,186)
Operating income (loss)		224,454	161,501
Trivago | Operating Segments
Segment Reporting Information [Line Items]
Third-party revenue		112,062	72,050
Intersegment revenue		64,108	47,075
Revenue		176,170	119,125
Adjusted EBITDA		7,706	5,046
Depreciation		(785)	(402)
Operating income (loss)		6,921	4,644
Egencia | Operating Segments
Segment Reporting Information [Line Items]
Third-party revenue		109,849	97,845
Revenue		109,849	97,845
Adjusted EBITDA		15,361	19,796
Depreciation		(6,847)	(5,642)
Operating income (loss)		8,514	14,154
Home Away Inc | Operating Segments
Segment Reporting Information [Line Items]
Third-party revenue	[1]	142,194
Revenue	[1]	142,194
Adjusted EBITDA	[1]	17,314
Depreciation	[1]	(3,659)
Operating income (loss)	[1]	$ 13,655
eLong, Inc | Operating Segments
Segment Reporting Information [Line Items]
Third-party revenue	[2]		33,567
Revenue	[2]		33,567
Adjusted EBITDA	[2]		(33,252)
Depreciation	[2]		(2,055)
Operating income (loss)	[2]		$ (35,307)
[1]	Includes results since our acquisition of HomeAway on December 15, 2015.
[2]	Includes results of eLong, which was disposed on May 22, 2015.

Schedule of Statement of Operat

Schedule of Statement of Operations Information (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Condensed Financial Statements, Captions [Line Items]
Revenue		$ 1,903,961	$ 1,373,397
Costs and expenses:
Cost of revenue	[1]	402,841	321,918
Selling and marketing	[1]	1,040,607	763,381
Technology and content	[1]	293,283	190,455
General and administrative	[1]	147,809	116,397
Amortization of intangible assets		89,999	25,042
Legal reserves, occupancy tax and other		1,974	2,529
Restructuring and related reorganization charges	[1]	29,803	4,676
Operating income (loss)		(102,355)	(51,001)
Other income (expense):
Other, net		(68,588)	82,652
Total other income (expense), net		(68,588)	82,652
Income (loss) before income taxes		(170,943)	31,651
Benefit (provision) for income taxes		49,139	910
Net income (loss)		(121,804)	32,561
Net income (loss) attributable to noncontrolling interests		(57)	11,582
Net income (loss) attributable to Expedia, Inc.		(121,861)	44,143
Comprehensive income (loss) attributable to Expedia, Inc.		(124,334)	(56,563)
Parent
Other income (expense):
Equity in pre-tax earnings (losses) of consolidated subsidiaries		(95,875)	61,077
Other, net		(41,216)	(26,859)
Total other income (expense), net		(137,091)	34,218
Income (loss) before income taxes		(137,091)	34,218
Benefit (provision) for income taxes		15,230	9,925
Net income (loss)		(121,861)	44,143
Net income (loss) attributable to Expedia, Inc.		(121,861)	44,143
Comprehensive income (loss) attributable to Expedia, Inc.		(138,094)	44,143
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Revenue		1,473,883	1,068,340
Costs and expenses:
Cost of revenue		318,332	240,188
Selling and marketing		728,772	520,759
Technology and content		219,505	129,923
General and administrative		95,371	70,196
Amortization of intangible assets		55,829	1,681
Legal reserves, occupancy tax and other		1,974	2,529
Restructuring and related reorganization charges		20,259	904
Intercompany (income) expense, net		175,689	163,018
Operating income (loss)		(141,848)	(60,858)
Other income (expense):
Equity in pre-tax earnings (losses) of consolidated subsidiaries		45,116	67,180
Other, net		(41,268)	52,297
Total other income (expense), net		3,848	119,477
Income (loss) before income taxes		(138,000)	58,619
Benefit (provision) for income taxes		44,587	4,759
Net income (loss)		(93,413)	63,378
Net income (loss) attributable to Expedia, Inc.		(93,413)	63,378
Comprehensive income (loss) attributable to Expedia, Inc.		(92,477)	63,555
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Revenue		492,308	349,223
Costs and expenses:
Cost of revenue		87,612	82,700
Selling and marketing		371,047	285,980
Technology and content		73,707	60,515
General and administrative		52,424	46,056
Amortization of intangible assets		34,170	23,361
Restructuring and related reorganization charges		9,544	3,772
Intercompany (income) expense, net		(175,689)	(163,018)
Operating income (loss)		39,493	9,857
Other income (expense):
Other, net		13,896	57,214
Total other income (expense), net		13,896	57,214
Income (loss) before income taxes		53,389	67,071
Benefit (provision) for income taxes		(10,678)	(13,774)
Net income (loss)		42,711	53,297
Net income (loss) attributable to noncontrolling interests		(57)	11,582
Net income (loss) attributable to Expedia, Inc.		42,654	64,879
Comprehensive income (loss) attributable to Expedia, Inc.		55,478	(36,004)
Eliminations
Condensed Financial Statements, Captions [Line Items]
Revenue		(62,230)	(44,166)
Costs and expenses:
Cost of revenue		(3,103)	(970)
Selling and marketing		(59,212)	(43,358)
Technology and content		71	17
General and administrative		14	145
Other income (expense):
Equity in pre-tax earnings (losses) of consolidated subsidiaries		50,759	(128,257)
Total other income (expense), net		50,759	(128,257)
Income (loss) before income taxes		50,759	(128,257)
Net income (loss)		50,759	(128,257)
Net income (loss) attributable to Expedia, Inc.		50,759	(128,257)
Comprehensive income (loss) attributable to Expedia, Inc.		$ 50,759	$ (128,257)
[1]	Includes stock-based compensation as follows: Cost of revenue $ 2,679 $ 1,158 Selling and marketing 8,301 6,472 Technology and content 12,350 6,784 General and administrative 19,462 14,472 Restructuring and related reorganization charges 11,173 -

Schedule of Balance Sheet Infor

Schedule of Balance Sheet Information (Detail) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
ASSETS
Total current assets		$ 3,796,132	$ 2,976,261
Intangible assets, net		2,738,961	2,793,954
Goodwill		8,026,352	7,992,941
Other assets, net		1,828,599	1,722,519
TOTAL ASSETS		16,390,044	15,485,675
LIABILITIES AND STOCKHOLDERS' EQUITY
Total current liabilities		6,957,960	5,926,017
Long-term debt	[1]	3,209,491	3,183,140
Other liabilities		855,400	788,273
Redeemable noncontrolling interests		669,984	658,478
Stockholders' equity		4,697,209	4,929,767
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		16,390,044	15,485,675
Eliminations
ASSETS
Total current assets		(974,756)	(717,093)
Investment in subsidiaries		(10,448,152)	(11,527,609)
Other assets, net		(9,160)	(13,833)
TOTAL ASSETS		(11,432,068)	(12,258,535)
LIABILITIES AND STOCKHOLDERS' EQUITY
Total current liabilities		(974,756)	(717,093)
Other liabilities		(9,160)	(13,833)
Stockholders' equity		(10,448,152)	(11,527,609)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		(11,432,068)	(12,258,535)
Parent
ASSETS
Total current assets		248,570	230,840
Investment in subsidiaries		8,362,605	8,420,890
Other assets, net		1,965	33
TOTAL ASSETS		8,613,140	8,651,763
LIABILITIES AND STOCKHOLDERS' EQUITY
Total current liabilities		706,440	538,856
Long-term debt		3,209,491	3,183,140
Stockholders' equity		4,697,209	4,929,767
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		8,613,140	8,651,763
Guarantor Subsidiaries
ASSETS
Total current assets		3,054,178	2,261,450
Investment in subsidiaries		2,085,547	3,106,719
Intangible assets, net		2,070,003	1,974,968
Goodwill		6,782,456	5,859,457
Other assets, net		1,482,833	1,381,837
TOTAL ASSETS		15,475,017	14,584,431
LIABILITIES AND STOCKHOLDERS' EQUITY
Total current liabilities		6,418,560	5,511,639
Other liabilities		660,277	620,685
Stockholders' equity		8,396,180	8,452,107
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		15,475,017	14,584,431
Non-Guarantor Subsidiaries
ASSETS
Total current assets		1,468,140	1,201,064
Intangible assets, net		668,958	818,986
Goodwill		1,243,896	2,133,484
Other assets, net		352,961	354,482
TOTAL ASSETS		3,733,955	4,508,016
LIABILITIES AND STOCKHOLDERS' EQUITY
Total current liabilities		807,716	592,615
Other liabilities		204,283	181,421
Redeemable noncontrolling interests		669,984	658,478
Stockholders' equity		2,051,972	3,075,502
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$ 3,733,955	$ 4,508,016
[1]	Net of applicable discounts and debt issuance costs.

Schedule of Cash Flow Statement

Schedule of Cash Flow Statement Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities:
Net cash provided by operating activities	$ 1,099,263	$ 1,051,064
Investing activities:
Capital expenditures, including internal-use software and website development	(167,578)	(102,650)
Purchases of investments		(346,043)
Sales and maturities of investments	8,215	129,019
Acquisitions, net of cash acquired		(326,088)
Other, net	128	18,714
Net cash used in investing activities	(159,235)	(627,048)
Financing activities:
Payment of HomeAway Convertible Notes	(400,443)
Purchases of treasury stock	(187,022)	(44,923)
Other, net	(16,426)	18,259
Net cash provided by (used in) financing activities	(603,891)	(26,664)
Effect of exchange rate changes on cash and cash equivalents	50,893	(64,769)
Net increase in cash and cash equivalents	387,030	332,583
Cash and cash equivalents at beginning of period	1,676,299	1,402,700
Cash and cash equivalents at end of period	2,063,329	1,735,283
Parent
Financing activities:
Purchases of treasury stock	(187,022)	(44,923)
Transfers (to) from related parties	191,665	29,247
Other, net	(4,643)	15,676
Guarantor Subsidiaries
Operating activities:
Net cash provided by operating activities	884,715	1,045,143
Investing activities:
Capital expenditures, including internal-use software and website development	(146,189)	(95,079)
Transfers (to) from related parties	(99,919)
Purchases of investments		(298,252)
Sales and maturities of investments	8,215	72,983
Acquisitions, net of cash acquired		(273,000)
Other, net	(2,102)	16,907
Net cash used in investing activities	(239,995)	(576,441)
Financing activities:
Payment of HomeAway Convertible Notes	(400,443)
Transfers (to) from related parties	(46,791)	(119,332)
Other, net	(11,783)	(9,240)
Net cash provided by (used in) financing activities	(459,017)	(128,572)
Effect of exchange rate changes on cash and cash equivalents	28,539	(36,192)
Net increase in cash and cash equivalents	214,242	303,938
Cash and cash equivalents at beginning of period	841,696	943,976
Cash and cash equivalents at end of period	1,055,938	1,247,914
Non-Guarantor Subsidiaries
Operating activities:
Net cash provided by operating activities	214,548	5,921
Investing activities:
Capital expenditures, including internal-use software and website development	(21,389)	(7,571)
Transfers (to) from related parties	99,919
Purchases of investments		(47,791)
Sales and maturities of investments		56,036
Acquisitions, net of cash acquired		(53,088)
Other, net	2,230	1,807
Net cash used in investing activities	80,760	(50,607)
Financing activities:
Transfers (to) from related parties	(144,874)	90,085
Other, net		11,823
Net cash provided by (used in) financing activities	(144,874)	101,908
Effect of exchange rate changes on cash and cash equivalents	22,354	(28,577)
Net increase in cash and cash equivalents	172,788	28,645
Cash and cash equivalents at beginning of period	834,603	458,724
Cash and cash equivalents at end of period	$ 1,007,391	$ 487,369