Item 6. Selected Financial Data

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Item 6. Selected Financial Data

We have derived the following selected financial data presented below from the consolidated financial statements and related notes. The information set forth below is not necessarily indicative of future results and should be read in conjunction with the consolidated financial statements and related notes and Part II, Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations.

SELECTED FINANCIAL DATA



	Year Ended December 31,
	2017			2016			2015			2014			2013
	(in thousands, except per share data)
Consolidated Statements of Operations Data:
Revenue	$	10,059,844		$	8,773,564		$	6,672,317		$	5,763,485		$	4,771,259
Operating income	625,138			461,702			413,566			517,764			366,060
Net income attributable to Expedia, Inc.(1)	377,964			281,848			764,465			398,097			232,850
Earnings per share attributable to Expedia, Inc. available to common stockholders:
Basic	$	2.49		$	1.87		$	5.87		$	3.09		$	1.73
Diluted	2.42			1.82			5.70			2.99			1.67
Shares used in computing earnings per share:
Basic	151,619			150,367			130,159			128,912			134,912
Diluted	156,385			154,517			134,018			133,168			139,593
Dividends declared per common share	$	1.16		$	1.00		$	0.84		$	0.66		$	0.56
	December 31,
	2017			2016			2015			2014			2013
Consolidated Balance Sheet Data:
Working deficit	$	(2,339,101	)	$	(2,676,947	)	$	(2,949,756	)	$	(1,263,283	)	$	(1,075,817	)
Total assets	18,515,628			15,777,546			15,485,675			9,012,299			7,734,689
Senior notes debt(2)	4,249,054			3,159,336			3,183,140			1,738,548			1,244,620
Non-redeemable non-controlling interest(3)	1,606,233			1,560,802			65,373			109,462			113,521
Total stockholders’ equity	6,128,568			5,693,103			4,929,767			1,893,729			2,258,985


(1)	On May 22, 2015, we completed the sale of our 62.4% ownership stake in eLong, Inc. We recognized an after tax gain of $395 million (or $509 million pre-tax gain) during 2015.


(2)	Includes current and long-term portion of senior notes.


(3)	On December 16, 2016, our majority-owned subsidiary, trivago, completed its IPO. In conjunction with the IPO, Expedia and trivago's founders entered into an Amended and Restated Shareholders' Agreement under which the original put/call rights were no longer effective and, as such, we reclassified the redeemable non-controlling interest into non-redeemable non-controlling interest on the consolidated balance sheet. See NOTE 12 — Redeemable Non-controlling Interests in the notes to consolidated financial statements for further information.

(3)

On December 16, 2016, our majority-owned subsidiary, trivago, completed its IPO. In conjunction with the IPO, Expedia and trivago's founders entered into an Amended and Restated Shareholders' Agreement under which the original put/call rights were no longer effective and, as such, we reclassified the redeemable non-controlling interest into non-redeemable non-controlling interest on the consolidated balance sheet. See NOTE 12 — Redeemable Non-controlling Interests in the notes to consolidated financial statements for further information.

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