Liberty Expedia (LEXEB) 10-Q 3 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 31, 2016
Document and Entity Information
Entity Registrant Name	Liberty Expedia Holdings, Inc.
Entity Central Index Key	1,669,600
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		0
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3

Condensed Combined Balance Shee

Condensed Combined Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 409	$ 2,243
Accounts receivable	352	701
Inventory, net	41,116	53,194
Prepaid expenses	3,940	4,661
Other current assets	2,776	3,047
Total current assets	48,593	63,846
Investment in Expedia, Inc.	921,852	927,057
Property and equipment, at cost	56,624	55,640
Accumulated depreciation	(30,196)	(26,012)
Property and equipment, net	26,428	29,628
Intangible assets not subject to amortization:
Goodwill	57,462	57,462
Tradenames	19,902	19,902
Intangible assets not subject to amortization,net	77,364	77,364
Intangible assets subject to amortization, net	23,844	24,142
Other assets, net	3,393	3,556
Total assets	1,101,474	1,125,593
Current liabilities:
Accounts payable	8,246	22,505
Accrued liabilities	12,243	6,805
Accrued stock compensation	3,604	5,545
Current portion of long-term debt adn capital lease obligations (Note 4)	4,758	4,755
Deferred revenue	4,544	4,090
Total current liabilities	33,395	43,700
Long-term debt and capital lease obligations, net	22,059	36,449
Deferred income tax liabilities	300,188	304,483
Income taxes payable	73,296	68,842
Total liabilities	428,938	453,474
Equity
Parent's investment	621,532	639,002
Accumulated other comprehensive earnings (loss), net of taxes	(34,818)	(32,661)
Retained earnings	85,822	65,778
Total equity	672,536	672,119
Total liabilities and equity	$ 1,101,474	$ 1,125,593

Condensed Combined Statements O

Condensed Combined Statements Of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Condensed Combined Statements Of Operations
Total revenue, net	$ 96,802	$ 115,897	$ 325,250	$ 360,849
Cost of retail sales (exclusive of depreciation shown separately below)	70,397	87,880	242,128	276,097
Gross profit	26,405	28,017	83,122	84,752
Operating costs and expenses:
Operating expense	7,125	8,032	23,712	24,314
Selling, general and administrative, including stock-based compensation expense	12,976	11,271	36,805	35,185
Depreciation and amortization	4,472	5,076	14,305	15,038
Total operating cost and expenses	24,573	24,379	74,822	74,537
Operating income (loss)	1,832	3,638	8,300	10,215
Other income (expense):
Interest expense	(259)	(321)	(838)	(910)
Related party interest expense		(355)		(1,129)
Share of earnings (losses) of Expedia, Inc.	39,812	45,048	18,112	125,147
Gains (losses) on dilution of investment in affiliate	1,097	4,162	(2,368)	4,782
Other, net	212	(102)	61	(467)
Total Other income(expense)	40,862	48,432	14,967	127,423
Earnings (loss) before income taxes	42,694	52,070	23,267	137,638
Income tax (expense) benefit	(13,808)	(17,729)	(3,223)	(47,879)
Net earnings (loss)	28,886	34,341	20,044	89,759
Less net earnings (loss) attributable to the noncontrolling interests		278		626
Net earnings (loss) attributable to Liberty Expedia Holdings, Inc. shareholders	$ 28,886	$ 34,063	$ 20,044	$ 89,133
Unaudited Pro Forma basic net earnings (loss) attributable to Series A and Series B Liberty Expedia Holdings, Inc. shareholders per common share	$ 0.51	$ 0.60	$ 0.35	$ 1.57

Condensed Combined Statements 4

Condensed Combined Statements Of Comprehensive Earnings (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Condensed Combined Statements Of Comprehensive Earnings (Loss)
Net earnings (loss)	$ 28,886	$ 34,341	$ 20,044	$ 89,759
Other comprehensive earnings (loss), net of taxes:
Share of other comprehensive earnings (loss) of Expedia,Inc.	(737)	(3,106)	(2,157)	(16,464)
Other comprehensive earnings (loss)	(737)	(3,106)	(2,157)	(16,464)
Comprehensive earnings (loss)	28,149	31,235	17,887	73,295
Less comprehensive earnings (loss) attributable to the noncontrolling interest		278		626
Comprehensive earnings (loss) attributable to Liberty Expedia Holdings,Inc. shareholders	$ 28,149	$ 30,957	$ 17,887	$ 72,669

Condensed Combined Statements 5

Condensed Combined Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Net earnings (loss)	$ 20,044	$ 89,759
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	14,305	15,038
Stock-based compensation	(314)	1,510
Cash payments for stock-based compensation	(1,972)	(1,130)
Noncash interest expense	33	121
Share of earnings (losses) of Expedia, Inc.	(18,112)	(125,147)
Cash receipts from returns on Expedia, Inc.	17,469	14,118
Deferred income tax expense (benefit)	(1,228)	44,212
Other noncash charges (credits), net	2,497	(4,317)
Changes in operating assets and liabilities
Current and other assets	13,435	(13,004)
Payables and other liabilities	(5,659)	7,009
Net cash provided (used) by operating activities	40,498	28,169
Cash flows from investing activities:
Capital expended for property and equipment	(10,442)	(14,678)
Investment in Expedia, Inc.		(22,575)
Net cash provided (used) by investing activities	(10,442)	(37,253)
Cash flows from financing activities:
Borrowings of debt	307,939	391,940
Repayments of debt	(322,359)	(388,161)
Contributions from (distributions to) parent, net	(17,470)	8,458
Net cash provided (used) by financing activities	(31,890)	12,237
Net increase (decrease) in cash and cash equivalents	(1,834)	3,153
Cash and cash equivalents at beginning of period	2,243	1,631
Cash and cash equivalents at end of period	$ 409	$ 4,784

Condensed Combined Statement Of

Condensed Combined Statement Of Equity - 9 months ended Sep. 30, 2016 - USD ($) $ in Thousands	Parent's investment	Accumulated other comprehensive earnings (loss)	Retained Earnings	Total
Balance at Dec. 31, 2015	$ 639,002	$ (32,661)	$ 65,778	$ 672,119
Net earnings (loss)			20,044	20,044
Other comprehensive earnings (loss)		(2,157)		(2,157)
Contributions from (distributions to) parent, net	(17,470)			(17,470)
Balance at Sep. 30, 2016	$ 621,532	$ (34,818)	$ 85,822	$ 672,536

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Basis of Presentation
Basis of Presentation	(1) Basis of Presentation During November 2015, the board of directors of Liberty Interactive Corporation ("Liberty Interactive") authorized management to pursue a plan to distribute to holders of its Liberty Ventures common stock shares of a newly formed entity, Liberty Expedia Holdings, Inc. ("Expedia Holdings" or the "Company" as discussed below) ("Expedia Holdings Split-Off"). Following the Expedia Holdings Split-Off, Expedia Holdings will be comprised of, among other things, Liberty Interactive's ownership interest in Expedia, Inc. ("Expedia"), as well as Liberty Interactive's wholly-owned subsidiary Bodybuilding.com, LLC ("Bodybuilding"). Bodybuilding became a wholly owned subsidiary of Liberty Interactive in October 2015 when Liberty Interactive purchased the remaining ownership interest in Bodybuilding. The Expedia Holdings Split-Off is intended to be tax-free to Liberty Interactive and stockholders of Liberty Ventures. In the Expedia Holdings Split-Off, (i) 0.4 of each outstanding share of Liberty Interactive’s Series A Liberty Ventures common stock will be redeemed for 0.4 of a share of Expedia Holdings’ Series A common stock, and (ii) 0.4 of each outstanding share of Liberty Interactive’s Series B Liberty Ventures common stock will be redeemed for 0.4 of a share of Expedia Holdings’ Series B common stock, with cash to be paid in lieu of any fractional shares of Liberty Interactive’s Series A and Series B Liberty Ventures common stock and Expedia Holdings’ Series A and Series B common stock. In contemplation of the proposed Expedia Holdings Split-Off, the Company filed with the Securities and Exchange Commission a registration statement that became effective during the third quarter of 2016. By virtue of the registration statement having gone effective, the Company is required to file a Form 10-Q for the quarter ended September 30, 2016. The Expedia Holdings Split-Off is currently expected to occur at 5:00 p.m., New York City time, on November 4, 2016, subject to the satisfaction or waiver (as applicable) of certain conditions. These financial statements represent a combination of the historical financial information of Bodybuilding and Liberty Interactive's interest in Expedia. These financial statements refer to the combination of the aforementioned subsidiary and investment as "Expedia Holdings," "the Company," "us," "we" and "our" in the notes to the condensed combined financial statements. The Expedia Holdings Split-Off will be accounted for at historical cost due to the pro rata nature of the redemption of shares of Liberty Ventures common stock in exchange for shares of Expedia Holdings common stock. All significant intercompany accounts and transactions have been eliminated in the condensed combined financial statements. Expedia Holdings does not control the decision making process or business management practices of its affiliate Expedia. Accordingly, the Company relies on management of its affiliate to provide it with accurate financial information prepared in accordance with U.S. generally accepted accounting principles ("GAAP") that the Company uses in the application of the equity method. In addition, Expedia Holdings relies on audit reports that are provided by the affiliate's independent auditors on the financial statements of such affiliate. The Company is not aware, however, of any errors in or possible misstatements of the financial information provided by its equity affiliate that would have a material effect on Expedia Holdings' condensed combined financial statements. As further discussed in note 3, the Company expects to begin consolidating Expedia upon completion of the Expedia Holdings Split-Off. The accompanying (a) condensed combined balance sheet as of December 31, 2015, which has been derived from audited financial statements, and (b) the interim unaudited condensed combined financial statements have been prepared in accordance with GAAP for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the results for such periods have been included. The results of operations for any interim period are not necessarily indicative of results for the full year. These condensed combined financial statements should be read in conjunction with the combined financial statements and notes thereto for the year ended December 31, 2015. In May 2014, the Financial Accounting Standards Board ("FASB") issued new accounting guidance on revenue from contracts with customers. The new guidance requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. This new guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In March 2016, the FASB issued additional guidance which clarifies principal versus agent considerations, and in April 2016, the FASB issued further guidance which clarifies the identification of performance obligations and the implementation guidance for licensing. The updated guidance will replace most existing revenue recognition guidance in GAAP when it becomes effective and permits the use of either a full retrospective or modified retrospective transition method. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, and early adoption is permitted only for fiscal years beginning after December 15, 2016. The Company has not yet selected a transition method and is currently evaluating the effect that the updated standard will have on its combined financial statements and related disclosures. In February 2015, the FASB issued new accounting guidance which amends the consolidation guidance in Accounting Standards Codification Topic 810, Consolidation . The new guidance requires an entity to reconsider and re-document the basis for previous consolidation conclusions. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. The Company adopted this guidance during the first quarter of 2016. The adoption of this guidance did not change the conclusions reached for any previous consolidation analyses. In July 2015, the FASB issued new accounting guidance that changes the measurement principle for inventory from the lower of cost or market to lower of cost and net realizable value. The new principle applies to entities that measure inventory using a method other than last-in, first-out or the retail inventory method. The new standard is effective for the Company for fiscal years and interim periods beginning after December 15, 2016. The Company is currently evaluating the effect that the updated standard will have on its combined financial statements, but does not believe that the standard will significantly impact its combined financial statements and related disclosures. In February 2016, the FASB issued new guidance which revises the accounting for leases. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use asset for all leases. The new guidance also simplifies the accounting for sale and leaseback transactions. The new standard, to be applied via a modified retrospective transition approach, is effective for the Company for fiscal years and interim periods beginning after December 15, 2018, with early adoption permitted. The Company has not yet determined the effect of the standard on its ongoing financial reporting. In March 2016, the FASB issued new guidance which simplifies several aspects of the accounting for share-based payment award transactions, including the income tax consequences, forfeitures, classification of awards as either equity or liabilities and classification on the statement of cash flows. The new standard is effective for the Company for fiscal years and interim periods beginning after December 15, 2016, with early adoption permitted. The Company adopted this guidance in the third quarter of 2016 . In accordance with the new guidance, excess tax benefits and tax deficiencies are recognized as income tax benefit or expense rather than as additional paid-in capital. The Company has elected to recognize forfeitures as they occur rather than continue to estimate expected forfeitures. In addition, pursuant to the new guidance, excess tax benefits are classified as an operating activity on the condensed combined statements of cash flows. The recognition of excess tax benefits and deficiencies are applied prospectively from January 1, 2016. The Company considered whether there were any tax benefits that were not previously recognized and for adjustments to compensation cost based on actual forfeitures, noting none. Accordingly, no cumulative-effect adjustment has been recorded in retained earnings as of January 1, 2016. No changes have been made to the condensed combined statements of cash flows, as excess tax benefits were insignificant for all periods presented. Split-Off of Expedia Holdings from Liberty Interactive Following the Expedia Holdings Split-Off, Liberty Interactive and Expedia Holdings will operate as separate, publicly traded companies, and neither will have any stock ownership, beneficial or otherwise, in the other. In connection with the Expedia Holdings Split-Off, Expedia Holdings will enter into certain agreements with Liberty Interactive and/or Liberty Media Corporation (“Liberty Media”) and certain of their subsidiaries in order to govern certain of the ongoing relationships between these companies after the Expedia Holdings Split-Off and to provide for an orderly transition. These agreements include a reorganization agreement, a services agreement, a facilities sharing agreement and a tax sharing agreement. The reorganization agreement between Liberty Interactive and Expedia Holdings will provide for, among other things, the principal corporate transactions (including the internal restructuring) required to effect the Expedia Holdings Split-Off, certain conditions to the Expedia Holdings Split-Off and provisions governing the relationship between Expedia Holdings and Liberty Interactive with respect to and resulting from the Expedia Holdings Split-Off. The tax sharing agreement between Liberty Interactive and Expedia Holdings will provide for the allocation and indemnification of tax liabilities and benefits between Liberty Interactive and Expedia Holdings and other agreements related to tax matters. Pursuant to the services agreement, Liberty Media will provide Expedia Holdings with general and administrative services including legal, tax, accounting, treasury and investor relations support. Under the facilities sharing agreement among Liberty Media, a subsidiary of Liberty Media and Expedia Holdings, Expedia Holdings will share office space with Liberty Interactive and Liberty Media and related amenities at Liberty Media's corporate headquarters. Expedia Holdings will reimburse Liberty Media for direct, out-of-pocket expenses incurred by Liberty Media in providing these services and for costs that will be negotiated semi-annually.

Pro Forma Earnings (Loss) per S

Pro Forma Earnings (Loss) per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Pro Forma Earnings (Loss) per Share (EPS)	(2) Pro Forma Earnings (Loss) per Share Unaudited pro forma earnings (loss) per common share for all periods presented is computed by dividing net earnings (loss) for the respective period by 56,943,468 common shares, which is the aggregate number of shares of Series A and Series B common stock that would have been issued upon completion of the Expedia Holdings Split-Off as if it had happened on September 30, 2016.

Investment in Expedia, Inc.

Investment in Expedia, Inc.	9 Months Ended
	Sep. 30, 2016
Investment in Expedia, Inc.
Investment in Expedia, Inc.	(3) Investment in Expedia, Inc. Expedia is an online travel company, empowering business and leisure travelers with the tools and information they need to efficiently research, plan, book and experience travel. Expedia seeks to grow its business through a dynamic portfolio of travel brands, including its majority owned subsidiaries that feature the world's broadest supply portfolio—including over 321,000 properties in approximately 200 countries, 475 airlines, packages, rental cars, cruises, as well as destination services and activities. Effective August 9, 2005, IAC/InterActiveCorp ("IAC") completed the spin-off of substantially all of its travel and travel-related businesses by way of the distribution of all outstanding shares of Expedia to IAC stockholders. Subsequent to the spin-off of Expedia from IAC, Liberty Interactive owned approximately 20% of the outstanding Expedia common stock and 52% of the voting interest in Expedia. As of September 30, 2016, the Company owns an approximate 15.7% equity interest and 52.3% voting interest in Expedia. Historically, Liberty Interactive has been a party to a Stockholders Agreement with Mr. Barry Diller, Chairman of the Board and Senior Executive Officer of Expedia, pursuant to which Mr. Diller holds an irrevocable proxy (the “Diller Proxy”) over all the shares of Expedia common stock ("EXPE") and Expedia class B common stock owned by Liberty Interactive. Liberty Interactive is also subject to a Governance Agreement with Expedia which provides for the right to nominate approximately 20% of the members of Expedia's board of directors, which is currently comprised of 13 members (three of which were nominated by Liberty Interactive). The Governance Agreement also provides for registration and other rights, and imposes certain restrictions on the ownership of shares of Expedia class B common stock. Pursuant to the Governance Agreement, Liberty Interactive has (and, following the completion of the Expedia Holdings Split-Off, the Company will have) preemptive rights that entitle it to purchase a number of shares of Expedia common stock (excluding certain issuances related to options, warrants or convertible securities) so that Liberty Interactive or the Company, as applicable, will maintain the identical ownership interest in Expedia (subject to certain adjustments) that it had immediately prior to such issuance or proposed issuance (but not in excess of 20.01%). Any purchase by Liberty Interactive or the Company, as applicable, will be allocated between EXPE and Expedia class B common stock in the same proportion as the issuance or issuances giving rise to the preemptive right, except to the extent that Liberty Interactive or the Company, as applicable, opts to acquire shares of EXPE in lieu of shares of Expedia class B common stock. Based on the Stockholders Agreement and the Governance Agreement, the Company determined that, prior to the Expedia Holdings Split-Off, it does not control Expedia but instead has significant influence with respect to Expedia and accordingly, accounts for its investment in Expedia as an equity method affiliate. In connection with the Expedia Holdings Split-Off, (a), the Governance Agreement and Stockholders Agreement will be assigned by Liberty Interactive to the Company and (b) Diller will cease to directly control a majority voting interest in Expedia by irrevocably assigning the Diller Proxy to the Company for a period of time up to 18 months following completion of the Expedia Holdings Split-Off, subject to certain termination events. By virtue of (i) certain governance rights with respect to the Company as set forth in the Company’s restated charter, an amendment to the Stockholders Agreement and an Amended and Restated Transaction Group among Mr. Diller, John C. Malone (“Malone”), Leslie Malone (“Mrs. Malone” and together with Malone, the “Malone Group”), Liberty Interactive and the Company and (ii) the grant by the Malone Group of an irrevocable proxy to vote, subject to certain exceptions, shares of the Company’s common stock beneficially owned by the Malone Group upon the completion of the Expedia Holdings Split-Off or thereafter for a period of time ending upon termination of Diller's assignment of the Diller Proxy (the arrangements described in clauses (i) and (ii), the “proxy arrangements”), Diller will be able to elect and replace the directors of the Company who will determine how the Company will exercise certain rights and vote the shares of EXPE and Expedia class B common stock owned by the Company in the election of Expedia directors, though Malone will retain the ability to remove such directors of the Company. The rights under the Governance Agreement and Stockholders Agreement, each as assigned and amended, will be maintained even upon termination of the proxy arrangements. As a result, Expedia Holdings expects to begin consolidating Expedia as of the completion of the Expedia Holdings Split-Off, as Expedia Holdings will then control a majority of the voting interest in Expedia. In conjunction with application of acquisition accounting, we anticipate a full step up in basis of Expedia along with a gain related to a difference between our historical basis and the fair value of our interest in Expedia. As of September 30, 2016, the carrying value of Expedia Holdings' ownership in Expedia was approximately $922 million. The market value of Expedia Holdings' ownership in Expedia as of September 30, 2016 was approximately $2,755 million (Level 1). Expedia Holdings recognized gains on dilution of its investment in Expedia of $1.1 million and $4.2 million for the three months ended September 30, 2016 and 2015, respectively, and a loss on dilution of its investment of $2.4 million and a gain on dilution of its investment of $4.8 million during the nine months ended September 30, 2016 and 2015, respectively. In addition, Expedia paid dividends which were recorded as reductions to the investment aggregating approximately $6.1 million and $5.6 million during the three months ended September 30, 2016 and 2015, respectively, and $17.5 million and $14.1 million during the nine months ended September 30, 2016 and 2015, respectively. During the three months ended September 30, 2016 and 2015 the Company recorded other comprehensive losses of $737 thousand and $3.1 million, respectively, and during the nine months ended September 30, 2016 and 2015, the Company recorded other comprehensive losses of $2.2 million and $16.5 million, respectively, of its share of Expedia's other comprehensive earnings (losses), net of income taxes. Expedia records gains and losses related to foreign currency translation adjustments in other comprehensive income (loss). The pre-tax portion of the Company's share of Expedia's other comprehensive earnings (losses) was losses of $1.2 million and $5.0 million for the three months ended September 30, 2016 and 2015, respectively, and losses of $3.5 million and $26.6 million for the nine months ended September 30, 2016 and 2015, respectively. Upon acquisition and due to subsequent repurchases of Expedia stock by Expedia, the Company allocated excess basis between the Company’s carrying value of Expedia and Expedia’s carrying value. The Company determined the initial applicable useful life of amortizable intangibles to be approximately four years. As a result of Expedia's 2015 acquisitions of Orbitz Worldwide, Inc. ("Orbitz") and HomeAway, Inc. ("HomeAway"), the Company determined the applicable useful life of amortizable intangibles to be approximately six years in connection with excess costs added subsequent to December 31, 2015. Amortization related to intangible assets with identifiable useful lives is included in the Company's share of earnings (losses) of Expedia, Inc. line item in the accompanying condensed combined statements of operations and aggregated $4.2 million and $6.1 million for the three months ended September 30, 2016 and 2015, respectively, and $13.8 million and $17.1 million, for the nine months ended September 30, 2016 and 2015, respectively. At September 30, 2016, the excess basis allocated to amortizable intangibles, net of accumulated amortization was $51.5 million and the non-amortizable excess basis was $254.0 million. Expedia, Inc. Summarized financial information for Expedia is as follows: Expedia, Inc. Consolidated Balance Sheets September 30, December 31, 2016 2015 amounts in millions Current assets $ Property and equipment, net Goodwill Intangible assets, net Other assets Total assets $ Current liabilities $ Deferred income taxes Long-term debt Other liabilities Equity Total liabilities and equity $ Expedia, Inc. Consolidated Statements of Operations Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 amounts in millions Revenue $ Cost of revenue Gross profit Selling, general and administrative expenses Amortization Operating income (loss) Interest expense Other income (expense), net Income tax (expense) benefit Net income (loss) Net (income) loss attributable to noncontrolling interests — Net income (loss) attributable to Expedia, Inc. shareholders $

Long-Term Debt and Capital Leas

Long-Term Debt and Capital Lease Obligations	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Long-Term Debt and Capital Lease Obligations	(4) Long-Term Debt and Capital Lease Obligations Outstanding debt and capital leases at September 30, 2016 and December 31, 2015 are summarized as follows: September 30, December 31, 2016 2015 amounts in thousands Bodybuilding secured notes $ Revolving line of credit due 2020 Deferred loan costs Capital lease obligations Total obligations Less portion classified as current Total long-term debt and capital lease obligations $ Bodybuilding Secured Notes As of September 30, 2016, Bodybuilding has various outstanding secured notes. Principal and interest payments on the secured notes are payable monthly based on the date of issuance. The secured notes are comprised of both fixed and variable rate notes with an interest rate of 4.14% on the fixed rate note and an interest rate of LIBOR plus 250 basis points on the variable rate notes (3.06% on the two variable rate notes at September 30, 2016). The maturity dates on the secured notes range from 2019 to 2022. The land and building purchased by Bodybuilding in March 2012 for its corporate headquarters are secured as collateral under the terms of the master term loan agreement for a portion of the outstanding secured notes. As of September 30, 2016, the total outstanding balance of the secured notes is $14.1 million. Revolving Line of Credit As of September 30, 2016, Bodybuilding had a revolving line of credit (the "Revolver") which is secured by Bodybuilding's inventory and accounts receivable. The maximum amount allowed under the Revolver is $50 million. The outstanding balance accrues interest at LIBOR plus 150 basis points, with a rate option balance that accrues interest at the CB Floating Rate less 125 basis points. The Revolver matures on January 20, 2020. Bodybuilding periodically borrows and repays amounts outstanding under the Revolver depending on its cash needs. As of September 30, 2016, the outstanding balance on the Revolver is $9.8 million subject to an interest rate of 2% on the first $7 million, and 2.25% on the remaining balance. Fair Value of Debt The Company estimates the fair value of its secured notes and term loan based on the current rate offered to the Company for debt of the same remaining maturities (level 3). The Company believes that the carrying amount of its Revolver and secured notes approximated fair value at September 30, 2016 and December 31, 2015. Covenant Compliance As of September 30, 2016, the Company was in compliance with its debt covenants which consist of both financial and nonfinancial covenants. Subsequent Borrowings During November 2016, prior to and in conjunction with the Expedia Holdings Split-Off, the Company entered into a $400 million margin loan, secured by shares of Expedia, which is scheduled to mature during November 2018 (“Expedia Margin Loan”). Borrowings under the Expedia Margin Loan bear interest at the rate of LIBOR plus 1.60% with the undrawn portion carrying a fee of 0.75%. The Company borrowed $350 million under the Expedia Margin Loan and plans to distribute $300 million to Liberty Interactive.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2016
Stock-Based Compensation
Stock-Based Compensation	(5) Stock-Based Compensation Liberty Incentive Plan Liberty Interactive has granted to certain directors, officers, employees and consultants of Liberty Interactive and certain of its subsidiaries stock options to purchase shares of Liberty Ventures common stock and restricted stock awards of Liberty Ventures common stock pursuant to applicable incentive plans in place at Liberty. Each holder of an outstanding option to purchase shares of Liberty Ventures common stock on the date of the Expedia Holdings Split-Off (an "original Ventures option award") will receive an option to purchase shares of the corresponding series of Company common stock (a "new Company option award") and an adjustment to the exercise price and number of shares subject to the original Ventures option award (as so adjusted, an "adjusted Ventures option award"). The exercise prices of and number of shares subject to the new Company option award and the related adjusted Ventures option award will be determined based on the exercise price and number of shares subject to the original Ventures option award, the redemption ratios being used in the Expedia Holdings Split-Off, the pre-Expedia Holdings Split-Off trading price of Liberty Ventures common stock (determined using the volume weighted average price of the applicable series of Liberty Ventures common stock over the three consecutive trading days immediately preceding the Expedia Holdings Split-Off) and the relative post-Expedia Holdings Split-Off trading prices of Liberty Ventures common stock and Company common stock (determined using the volume weighted average price of the applicable series of common stock over the three consecutive trading days beginning on the first trading day following the Expedia Holdings Split-Off on which both the Liberty Ventures common stock and the Company common stock trade in the "regular way" (meaning once the common stock trades using a standard settlement cycle)), such that the pre-Expedia Holdings Split-Off value of the original Ventures option award is allocated between the new Company option award and the adjusted Ventures option award. Except as described above, all other terms of an adjusted Ventures option award and a new Company option award (including, for example, the vesting terms thereof) will in all material respects, be the same as those of the corresponding original Ventures option award. The terms of the adjusted Ventures option award will be determined and the new Company option award will be granted as soon as practicable following the determination of the pre- and post-Expedia Holdings Split-Off trading prices of Liberty Ventures and Company common stock, as applicable. The compensation expense relating to employees of Liberty Interactive will continue to be recorded at Liberty Interactive. Liberty Interactive had outstanding approximately 3.5 million Liberty Ventures Series A and 1.7 million Liberty Ventures Series B options at September 30, 2016 with a weighted average exercise price of $21.93 and $34.75 per share, respectively. Approximately 2.7 million and 112 thousand of those options, respectively, were exercisable at September 30, 2016 with a weighted average exercise price of $17.76 and $38.63 per share, respectively. Bodybuilding Stock Appreciation Rights Plans There were approximately 660 thousand stock appreciation rights ("SARs") granted during the nine months ended September 30, 2016 under the Bodybuilding 2011 Stock Appreciation Rights Plan. The weighted average grant date fair value of the SARs granted during the nine months ended September 30, 2016 was $13.15 per share. As of September 30, 2016, the total unrecognized compensation cost related to 854 thousand unvested Bodybuilding SARs was approximately $8.6 million and will be recognized over a weighted average period of approximately 3.1 years. Accrued stock compensation was $3.6 million at September 30, 2016. Included in selling, general and administrative expenses in the accompanying condensed combined statements of operations is stock-based compensation expense of $770 thousand and $597 thousand for the three months ended September 30, 2016 and 2015, respectively, and a benefit from stock-based compensation of $314 thousand and stock-based compensation expense of $1.5 million for the nine months ended September 30, 2016 and 2015, respectively, which relates to Bodybuilding. The benefit recognized during the nine months ended September 30, 2016 was primarily due to a change in the per unit valuation of outstanding stock appreciation rights.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
Related Party Transactions
Related Party Transactions	(6) Related Party Transactions As of September 30, 2015, Bodybuilding had an outstanding note with its parent company, Liberty Interactive (the "Liberty Note"), in the amount of $12.9 million. The Liberty Note required Bodybuilding to make interest only payments at a 10% interest rate on a quarterly basis with the final payment due January 31, 2020. Bodybuilding voluntarily made principal payments on the outstanding debt of $3.0 million during the nine months ended September 30, 2015. As part of a contribution agreement entered into by Liberty Interactive and Bodybuilding on October 26, 2015, the balance of the note and accrued interest which aggregated $13.0 million was considered contributed equity. During the nine months ended September 30, 2015, Bodybuilding recognized $1.1 million in interest expense related to the Liberty Note. The Company paid $225 thousand and $80 thousand during the three months ended September 30, 2016 and 2015, respectively, and $480 thousand and $176 thousand during the nine months ended September 30, 2016 and 2015, respectively, to Liberty Interactive for legal and tax expenses that Liberty Interactive remitted on behalf of the Company.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies
Commitments and Contingencies	(7) Commitments and Contingencies Leases The Company leases certain warehouse and office space, equipment, furniture and computer software under both capital and noncancelable operating leases that expire at various dates through 2020. The Company is responsible, under all leases, for related building maintenance and property taxes. Total rental expense was $470 thousand and $641 thousand for the three months ended September 30, 2016 and 2015, respectively, and $1.6 million and $1.9 million for the nine months ended September 30, 2016 and 2015, respectively. Litigation The Company is subject to legal proceedings and other matters arising in the ordinary course of business. Although it is reasonably possible the Company may incur losses upon conclusion of such matters, an estimate of any loss or range of loss cannot be made. In the opinion of management, it is expected that amounts, if any, which may be required to satisfy such contingencies will not be material in relation to the accompanying condensed combined financial statements. Bodybuilding is engaged in litigation arising from a dispute with Mr. Stoppani and his company PhD Fitness, LLC ("PhD Fitness") over the ownership of trademarks relating to JYM brand supplement products. Mr. Stoppani has demanded that Bodybuilding discontinue manufacturing and selling JYM products. Bodybuilding filed an action against Mr. Stoppani and PhD Fitness for declaratory relief in U.S. Federal Court seeking a judicial declaration that Bodybuilding is the owner of the JYM trademark, and asserting trademark infringement claims. Mr. Stoppani and PhD Fitness have filed counterclaims, including claims for trademark infringement and false advertising, seeking a declaratory judgment that Mr. Stoppani and PhD Fitness own the JYM mark, actual damages in excess of $50 million (actual amount to be proven at trial), punitive damages of not less than $10 million, injunctive relief and attorneys' fees. Bodybuilding and Mr. Stoppani and PhD Fitness have each filed competing motions seeking a preliminary injunction. On October 31, 2016, the Court granted Bodybuilding permission to file an amended complaint to add General Nutrition Center ("GNC") as a defendant and to add a claim for trade dress infringement, due to Mr. Stoppani and PhD Fitness' launch of a competing supplement line through GNC utilizing the JYM mark. Certain Risks and Concentrations Bodybuilding is subject to certain risks and concentrations including dependence on relationships with its vendors. Bodybuilding's largest vendors, which accounted for greater than 10% of purchases, aggregated 30% of total purchases for each of the three months ended September 30, 2016 and 2015 and 31% and 29% of total purchases for the nine months ended September 30, 2016 and 2015, respectively. Off-Balance Sheet Arrangements Expedia Holdings did not have any off-balance sheet arrangements that have, or are reasonably likely to have, a current or future effect on the Company's financial condition, results of operations, liquidity, capital expenditures or capital resources.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information	(8) Segment Information Expedia Holdings identifies its reportable segments as (A) those combined companies that represent 10% or more of its combined annual revenue, annual Adjusted OIBDA or total assets and (B) those equity method affiliates whose share of earnings or losses represent 10% or more of Expedia Holding's annual pre-tax earnings (losses). Expedia Holdings evaluates performance and makes decisions about allocating resources to its operating segments based on financial measures such as revenue and Adjusted OIBDA. In addition, Expedia Holdings reviews nonfinancial measures such as unique visitors, customer acquisition and conversion rates. Expedia Holdings defines Adjusted OIBDA as revenue less cost of sales, operating expenses, and selling, general and administrative expenses (excluding stock-based compensation). Expedia Holdings believes this measure is an important indicator of the operational strength and performance of its businesses, including each business's ability to service debt and fund capital expenditures. In addition, this measure allows management to view operating results and perform analytical comparisons and benchmarking between businesses and identify strategies to improve performance. This measure of performance excludes depreciation and amortization, stock-based compensation, separately reported litigation settlements and restructuring and impairment charges that are included in the measurement of operating income pursuant to GAAP. Accordingly, Adjusted OIBDA should be considered in addition to, but not as a substitute for, operating income (loss), net earnings (loss), cash flow provided by operating activities and other measures of financial performance prepared in accordance with GAAP. Expedia Holdings generally accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current prices. For the nine months ended September 30, 2016, Expedia Holdings has identified the following combined company and equity method investment as its reportable segments: · Bodybuilding—a wholly-owned Internet retailer of sports, fitness and nutritional supplements. Bodybuilding also hosts an online health-and-fitness publication, offering free fitness content, workout programs, video trainers, recipes, health advice and motivational stories. Bodybuilding's revenue primarily consists of sales of health and wellness products. · Expedia—an equity method investment of the Company that provides travel 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. Expedia's revenue primarily consists of sales of travel services. Expedia Holdings' operating segments are strategic business units that offer different products and services. They are managed separately because each segment requires different technologies, distribution channels and marketing strategies. The accounting policies of the segments that are also combined companies are the same as those described in the Company's summary of significant accounting policies in the Company's annual financial statements. Performance Measures Three months ended September 30, 2016 2015 Adjusted Adjusted Revenue OIBDA Revenue OIBDA amounts in thousands Bodybuilding $ Expedia Corporate and other — — — — Eliminate Expedia Combined Expedia Holdings $ Nine months ended September 30, 2016 2015 Revenue from Revenue from external Adjusted external Adjusted customers OIBDA customers OIBDA amounts in thousands Bodybuilding $ Expedia Corporate and Other — — — — Eliminate Expedia Combined Expedia Holdings $ Other Information September 30, 2016 Total Investment Capital assets in Expedia expenditures amounts in thousands Bodybuilding $ — Expedia — Corporate and other — Eliminate Expedia — Combined Expedia Holdings $ The following table provides a reconciliation of segment Adjusted OIBDA to earnings (loss) before income taxes: Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 amounts in thousands Combined segment Adjusted OIBDA $ Stock-based compensation Depreciation and amortization Interest expense Related party interest expense — — Share of earnings (loss) of Expedia Gain (loss) on dilution of Expedia Other, net Earnings (loss) before income taxes $

Investment in Expedia, Inc. (Ta

Investment in Expedia, Inc. (Tables)	9 Months Ended
	Sep. 30, 2016
Investment in Expedia, Inc.
Summarized financial information	Expedia, Inc. Consolidated Balance Sheets September 30, December 31, 2016 2015 amounts in millions Current assets $ Property and equipment, net Goodwill Intangible assets, net Other assets Total assets $ Current liabilities $ Deferred income taxes Long-term debt Other liabilities Equity Total liabilities and equity $ Expedia, Inc. Consolidated Statements of Operations Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 amounts in millions Revenue $ Cost of revenue Gross profit Selling, general and administrative expenses Amortization Operating income (loss) Interest expense Other income (expense), net Income tax (expense) benefit Net income (loss) Net (income) loss attributable to noncontrolling interests — Net income (loss) attributable to Expedia, Inc. shareholders $

Long-Term Debt and Capital Le16

Long-Term Debt and Capital Lease Obligations (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of debt and capital leases	September 30, December 31, 2016 2015 amounts in thousands Bodybuilding secured notes $ Revolving line of credit due 2020 Deferred loan costs Capital lease obligations Total obligations Less portion classified as current Total long-term debt and capital lease obligations $

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Schedule of performance measures by segment	Three months ended September 30, 2016 2015 Adjusted Adjusted Revenue OIBDA Revenue OIBDA amounts in thousands Bodybuilding $ Expedia Corporate and other — — — — Eliminate Expedia Combined Expedia Holdings $ Nine months ended September 30, 2016 2015 Revenue from Revenue from external Adjusted external Adjusted customers OIBDA customers OIBDA amounts in thousands Bodybuilding $ Expedia Corporate and Other — — — — Eliminate Expedia Combined Expedia Holdings $
Schedule of other information by segment	September 30, 2016 Total Investment Capital assets in Expedia expenditures amounts in thousands Bodybuilding $ — Expedia — Corporate and other — Eliminate Expedia — Combined Expedia Holdings $
Schedule of reconciliation of segment Adjusted OIBDA to earnings (loss) before income taxes	Three months ended Nine months ended September 30, September 30, 2016 2015 2016 2015 amounts in thousands Combined segment Adjusted OIBDA $ Stock-based compensation Depreciation and amortization Interest expense Related party interest expense — — Share of earnings (loss) of Expedia Gain (loss) on dilution of Expedia Other, net Earnings (loss) before income taxes $

Basis of Presentation (Details)

Basis of Presentation (Details)	1 Months Ended
	Nov. 30, 2015
Common Class A
Split Off Redemption Ratio	0.4
Common Class B
Split Off Redemption Ratio	0.4

Pro Forma Earnings (Loss) per19

Pro Forma Earnings (Loss) per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Pro forma shares outstanding	56,943,468	56,943,468	56,943,468	56,943,468

Investment in Expedia, Inc. - T

Investment in Expedia, Inc. - Text (Details) $ in Thousands	Sep. 30, 2016USD ($)item	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)item	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014	Aug. 09, 2005
Schedule of Equity Method Investments [Line Items]
Investment in Expedia	$ 921,852	$ 921,852		$ 921,852		$ 927,057
Gain (loss) on dilution of Expedia		1,097	$ 4,162	(2,368)	$ 4,782
Other comprehensive losses, net of tax		$ (737)	(3,106)	$ (2,157)	(16,464)
Expedia
Schedule of Equity Method Investments [Line Items]
Number of countries in which properties of Expedia are located | item				200
Number of airlines | item				475
Percentage of equity interest	15.70%	15.70%		15.70%
Voting interest	52.30%	52.30%		52.30%
Maximum equity interest that can be acquired	20.01%
Investment in Expedia	$ 922,000	$ 922,000		$ 922,000
Dividends		6,100	5,600	17,500	14,100
Other comprehensive losses, net of tax		737	3,100	2,200	16,500
Other comprehensive losses, pre-tax		1,200	5,000	3,500	26,600
Useful life of intangible asset						6 years	4 years
Amortizable excess basis allocated to amortizble intangibles, net of accumulated amortization	51,500	51,500		51,500
Non-amortizable excess basis allocated to non-amortizble intangibles	254,000	254,000		254,000
Expedia | Share of earnings (losses) of Expedia, Inc
Schedule of Equity Method Investments [Line Items]
Excess basis amortization in share of earnings (loss)		4,200	$ 6,100	13,800	$ 17,100
Expedia | Level 1
Schedule of Equity Method Investments [Line Items]
Market value	$ 2,755,000	$ 2,755,000		$ 2,755,000
Liberty Interactive | Expedia
Schedule of Equity Method Investments [Line Items]
Percentage of equity interest								20.00%
Voting interest								52.00%
Percentage of members of board which can be appointed by the company	20.00%
Number of members in board of directors | item	13
Number of directors appointed by the company | item	3
Minimum | Expedia
Schedule of Equity Method Investments [Line Items]
Number of properties | item				321,000
Maximum
Schedule of Equity Method Investments [Line Items]
Proxy period (in months)				18 months

Investment in Expedia, Inc. - E

Investment in Expedia, Inc. - Expedia's Consolidated Balance Sheets (Details) - Expedia - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Current assets	$ 3,620	$ 2,976
Property and equipment, net	1,340	1,064
Goodwill	8,027	7,993
Intangible assets, net	2,574	2,794
Other assets	571	659
Total assets	16,132	15,486
Current liabilities	6,619	5,926
Deferred income taxes	418	474
Long-term debt	3,204	3,183
Other liabilities	1,938	973
Equity	3,953	4,930
Total liabilities and equity	$ 16,132	$ 15,486

Investment in Expedia, Inc. -22

Investment in Expedia, Inc. - Expedia's Consolidated Statement Of Operations (Details) - Expedia - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Schedule of Equity Method Investments [Line Items]
Revenue	$ 2,581	$ 1,938	$ 6,681	$ 4,974
Cost of revenue	417	328	1,226	971
Gross Profit	2,164	1,610	5,455	4,003
Selling, general and administrative expenses	(1,701)	(1,234)	(4,890)	(3,536)
Amortization	(77)	(31)	(251)	(83)
Operating income (loss)	386	345	314	384
Interest expense	(43)	(33)	(130)	(90)
Other income (expense), net	(3)	30	(23)	638
Income tax (expense) benefit	(61)	(66)	15	(196)
Net income (loss)	279	276	176	736
Net (income) loss attributable to noncontrolling interests		7	26	41
Net earnings (loss) attributable to Liberty Expedia Holdings shareholders	$ 279	$ 283	$ 202	$ 777

Long-Term Debt and Capital Le23

Long-Term Debt and Capital Lease Obligation - Debt and Capital Lease Table (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Deferred loan costs	$ (69)	$ (102)
Capital lease obligations	3,023	4,030
Total obligations	26,817	41,204
Less portion classified as current	(4,758)	(4,755)
Total long-term debt and capital lease obligations	22,059	36,449
Revolving line of credit due 2020
Debt Instrument [Line Items]
Long-term Debt, Gross	9,813	19,538
Bodybuilding | Secured Notes
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 14,050	$ 17,738

Long-Term Debt and Capital Le24

Long-Term Debt and Capital Lease Obligation - Text (Details)	Nov. 03, 2016USD ($)	Nov. 30, 2016USD ($)	Sep. 30, 2016USD ($)item	Dec. 31, 2015USD ($)
Revolving line of credit due 2020
Debt Instrument [Line Items]
Long-term Debt, Gross			$ 9,813,000	$ 19,538,000
Maximum borrowing capacity			$ 50,000,000
Revolving line of credit due 2020 | LIBOR
Debt Instrument [Line Items]
Interest rate basis			LIBOR
Interest rate spread			1.50%
Revolving line of credit due 2020 | CB Floating Rate
Debt Instrument [Line Items]
Interest rate basis			CB Floating Rate
Interest rate spread subtracted			1.25%
Line of credit first tranche
Debt Instrument [Line Items]
Long-term Debt, Gross			$ 7,000,000
Effective interest rate			2.00%
Line of credit remaining balance
Debt Instrument [Line Items]
Effective interest rate			2.25%
Expedia Margin Loan
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 350,000,000
Maximum borrowing capacity	400,000,000
Unused borrowing capacity fee	$ 0.75
Expedia Margin Loan | Forecast
Debt Instrument [Line Items]
Distribution to former parent		$ 300,000,000
Expedia Margin Loan | LIBOR
Debt Instrument [Line Items]
Interest rate basis	LIBOR
Interest rate spread	1.60%
Bodybuilding | Secured Notes
Debt Instrument [Line Items]
Long-term Debt, Gross			$ 14,050,000	$ 17,738,000
Bodybuilding | Secured Fixed Rate Note
Debt Instrument [Line Items]
Debt instrument stated interest rate			4.14%
Bodybuilding | Secured Variable Rate Notes
Debt Instrument [Line Items]
Number of variable rate notes | item			2
Bodybuilding | Secured Variable Rate Notes | LIBOR
Debt Instrument [Line Items]
Interest rate basis			LIBOR
Interest rate spread			2.50%
Effective interest rate			3.06%

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Nov. 03, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Stock-Based Compensation
Accrued stock compensation		$ 3,604		$ 3,604		$ 5,545
Liberty Incentive Plan | Selling, general and administrative
Stock-Based Compensation
Stock-based compensation allocated to selling, general, and administrative		$ 770	$ 597	$ (314)	$ 1,500
Liberty Interactive | Liberty Incentive Plan | Liberty Ventures common stock
Stock-Based Compensation
Number of consecutive trading days used in the volume weighted average price for the distribution ratio	3 days
Liberty Interactive | Liberty Incentive Plan | Liberty Ventures common stock | Common Class A
Stock-Based Compensation
Outstanding options		3,500		3,500
Outstanding options, Weighted Average Exercise Price		$ 21.93		$ 21.93
Exercisable options		2,700		2,700
Exercisable options, Weighted Average Exercise Price		$ 17.76		$ 17.76
Liberty Interactive | Liberty Incentive Plan | Liberty Ventures common stock | Common Class B
Stock-Based Compensation
Outstanding options		1,700		1,700
Outstanding options, Weighted Average Exercise Price		$ 34.75		$ 34.75
Exercisable options		112		112
Exercisable options, Weighted Average Exercise Price		$ 38.63		$ 38.63
Bodybuilding | Bodybuilding 2011 SAR Plan | Stock Appreciation Rights (SARs)
Stock-Based Compensation
Stock granted				660
Weighted average grant-date fair value				$ 13.15
Number of unvested SARs		854		854
Total unrecognized compensation cost		$ 8,600		$ 8,600
Weighted average period for recognition of compensation cost				3 years 1 month 6 days

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Oct. 26, 2015
Related Party Transaction [Line Items]
Interest expense		$ 355		$ 1,129
Liberty Interactive Corporation
Related Party Transaction [Line Items]
Related party expenses	$ 225	80	$ 480	176
Bodybuilding | Liberty Interactive Corporation | Liberty Note
Related Party Transaction [Line Items]
Debt outstanding		$ 12,900		$ 12,900
Debt Instrument, Interest Rate, Stated Percentage	10.00%		10.00%
Debt payment			$ 3,000
Debt and accrued interest considered contributed equity					$ 13,000
Interest expense			$ 1,100

Commitments and Contingencies -

Commitments and Contingencies - Rent Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Commitments and Contingencies
Rent expense	$ 470	$ 641	$ 1,600	$ 1,900

Commitments and Contingencies28

Commitments and Contingencies - Litigation (Details) - Bodybuilding - Pending Litigation - Minimum $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)
Loss Contingencies [Line Items]
Actual damages sought	$ 50
Punitive damages sought	$ 10

Commitments and Contingencies29

Commitments and Contingencies - Concentrations (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Bodybuilding | Purchases | Vendor Concentration Risk
Concentration Risk [Line Items]
Concentration Risk, Percentage	30.00%	30.00%	31.00%	29.00%

Segment Information - Performan

Segment Information - Performance Measures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue, Net	$ 96,802	$ 115,897	$ 325,250	$ 360,849
Adjusted OIBDA	7,074	9,311	22,291	26,763
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue, Net	2,677,707	2,053,650	7,005,985	5,334,599
Adjusted OIBDA	670,047	464,420	1,192,736	815,348
Eliminate Expedia
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue, Net	(2,580,905)	(1,937,753)	(6,680,735)	(4,973,750)
Adjusted OIBDA	(662,973)	(455,109)	(1,170,445)	(788,585)
Bodybuilding | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue, Net	96,802	115,897	325,250	360,849
Adjusted OIBDA	7,074	9,311	22,291	26,763
Expedia | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue, Net	2,580,905	1,937,753	6,680,735	4,973,750
Adjusted OIBDA	$ 662,973	$ 455,109	$ 1,170,445	$ 788,585

Segment Information - Other Inf

Segment Information - Other Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 1,101,474		$ 1,125,593
Investment in Expedia	921,852		$ 927,057
Capital expenditures	10,442	$ 14,678
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	17,233,240
Investment in Expedia	921,852
Capital expenditures	577,486
Operating Segments | Bodybuilding
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	179,622
Capital expenditures	10,442
Operating Segments | Expedia
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	16,131,766
Capital expenditures	567,044
Operating Segments | Corporate and Other
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	921,852
Investment in Expedia	921,852
Eliminate Expedia
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	(16,131,766)
Capital expenditures	$ (567,044)

Segment Information - Reconcili

Segment Information - Reconciliation of Segment Adjusted OBIDA to Earnings (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting [Abstract]
Combined segment Adjusted OIBDA	$ 7,074	$ 9,311	$ 22,291	$ 26,763
Stock-based compensation	(770)	(597)	314	(1,510)
Depreciation and amortization	(4,472)	(5,076)	(14,305)	(15,038)
Interest expense	(259)	(321)	(838)	(910)
Related party interest expense		(355)		(1,129)
Share of earnings (losses) of Expedia	39,812	45,048	18,112	125,147
Gain (loss) on dilution of Expedia	1,097	4,162	(2,368)	4,782
Other, net	212	(102)	61	(467)
Earnings (loss) before income taxes	$ 42,694	$ 52,070	$ 23,267	$ 137,638