General and administrative

$ 415

$ 354

$ 1,183

$ 958

Costs and expenses:

Cost of revenue

^[1]

Selling and marketing

197

^[2]

159

^[2]

546

^[2]

387

^[2]

Technology and content

^[2]

152

^[2]

125

^[2]

^[2]

114

^[2]

Depreciation

Total costs and expenses

327

270

926

678

Interest income and other, net (Note 16)

257

280

Other income (expense):

Interest expense

(3)

(2)

(7)

(6)

(7)

Total other income (expense), net

(9)

(13)

Income before income taxes

265

267

Provision for income taxes

(24)

(21)

(70)

(77)

Earnings per share attributable to common stockholders (Note 14):

$ 74

$ 54

$ 195

$ 190

Basic

$ 0.51

$ 0.38

$ 1.35

$ 1.33

Diluted

$ 0.51

$ 0.37

$ 1.34

$ 1.30

Weighted average common shares outstanding (Note 14):

Basic

144,133

142,842

143,662

142,648

Diluted

145,828

146,071

145,886

145,839

[1]	Excludes amortization expense as follows:
[2]	Includes stock-based compensation expense as follows:

Consolidated Statements of Operations (Parenthetical) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Costs and expenses:
Amortization of intangible assets	$ 10	$ 6	$ 26	$ 11
Depreciation	13	12	42	33
Amortization adjustment	10	9	34	23
Stock-based compensation:
Stock-based compensation	19	17	52	46
Selling and Marketing
Stock-based compensation:
Stock-based compensation	4	4	12	10
Technology and Content
Stock-based compensation:
Stock-based compensation	8	7	20	19
General and Administrative
Stock-based compensation:
Stock-based compensation	7	6	20	17
Acquired technology
Costs and expenses:
Amortization of intangible assets	2	1	7	2
Website development costs
Costs and expenses:
Depreciation	$ 8	$ 8	$ 27	$ 21

Consolidated Statements of Comprehensive Income (USD $)
In Millions, unless otherwise specified

3 Months Ended

9 Months Ended

Sep. 30, 2015

Sep. 30, 2014

Sep. 30, 2015

Sep. 30, 2014

Statement Of Income And Comprehensive Income [Abstract]

Foreign currency translation adjustments

$ 74

$ 54

$ 195

$ 190

Other comprehensive income (loss):

(10)

^[1]

(14)

^[1]

(29)

^[1]

(14)

^[1]

Reclassification adjustment on sale of business included in total other income (expense), net (Note 3)

Total other comprehensive loss

(9)

(14)

(28)

(14)

Comprehensive income

$ 65

$ 40

$ 167

$ 176

[1]	Foreign currency translation adjustments exclude income taxes due to our practice and intention to indefinitely reinvest the earnings of our foreign subsidiaries in those operations.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References+ Details

Amount before tax, after reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.

+ References+ Details

Beginning balance at Dec. 31, 2014

Amount after tax of reclassification adjustment from accumulated other comprehensive income for translation gain (loss) realized upon the sale or liquidation of an investment in a foreign entity and foreign currency hedges that are designated and qualified as hedging instruments for hedges of the foreign currency exposure of a net investment in a foreign operation.

+ References+ Details

Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 567	$ 455
Short-term marketable securities (Note 5)	119	108
Accounts receivable, net of allowance for doubtful accounts of $8 and $7 at September 30, 2015 and December 31, 2014, respectively	224	151
Prepaid expenses and other current assets	33	33
Total current assets	943	747
Long-term marketable securities (Note 5)	44	31
Property and equipment, net (Note 6)	247	195
Intangible assets, net (Note 7)	186	214
Goodwill (Note 7)	735	734
Other long-term assets	43	37
TOTAL ASSETS	2,198	1,958
Current liabilities:
Accounts payable	17	19
Deferred merchant payables	142	93
Deferred revenue	67	57
Current portion of debt (Note 8)	1	78
Taxes payable		20
Accrued expenses and other current liabilities (Note 10)	129	114
Total current liabilities	356	381
Deferred income taxes, net	42	39
Other long-term liabilities (Note 11)	187	154
Long-term debt (Note 8)	287	259
Total Liabilities	872	833
Commitments and contingencies (Note 12)
Stockholders’ equity:
Preferred stock, $0.001 par value Authorized shares: 100,000,000 Shares issued and outstanding: 0 and 0
Additional paid-in capital	707	673
Retained earnings	823	628
Accumulated other comprehensive income (loss)	(59)	(31)
Treasury stock-common stock, at cost, 2,194,173 and 2,194,173 shares	(145)	(145)
Total Stockholders’ Equity	1,326	1,125
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 2,198	$ 1,958

Consolidated Balance Sheets (Parenthetical) (USD $) In Millions, except Share data, unless otherwise specified	Sep. 30, 2015	Dec. 31, 2014
Allowance for doubtful accounts	$ 8	$ 7
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	1,600,000,000	1,600,000,000
Common stock, shares issued	133,562,301	132,315,465
Common stock, shares outstanding	131,368,128	130,121,292
Treasury stock, shares	2,194,173	2,194,173
Class B Common Stock
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	12,799,999	12,799,999
Common stock, shares outstanding	12,799,999	12,799,999

Consolidated Statement of Changes in Stockholders' Equity (USD $)
In Millions, except Share data

Total

USD ($)

Class B Common Stock

Common Stock

Additional Paid-in Capital

USD ($)

Retained Earnings

USD ($)

Accumulated Other Comprehensive Income (Loss)

USD ($)

Treasury Stock

USD ($)

$ 1,125

$ 673

$ 628

$ (31)

$ (145)

Beginning balance, shares at Dec. 31, 2014

12,799,999

132,315,465

(2,194,173)

Issuance of common stock related to exercises of options and vesting of RSUs

195

Other comprehensive loss

(28)

Issuance of common stock related to exercise of options and vesting of RSUs, shares

2,759,000

^[1]

1,246,836

Tax benefits on equity awards, net

Minimum withholding taxes on net share settlements of equity awards

(66)

Stock-based compensation

Ending balance at Sep. 30, 2015

$ 1,326

$ 707

$ 823

$ (59)

$ (145)

Ending balance, shares at Sep. 30, 2015

12,799,999

133,562,301

(2,194,173)

[1]

Inclusive of 1,769,209 options which were not converted into shares due to net share settlement in order to cover the aggregate exercise price and the minimum amount of required employee withholding taxes. Potential shares that had been convertible under stock options that were withheld under net share settlement remain in the authorized but unissued pool under the 2011 Plan and can be reissued by the Company. Total payments for the employees’ tax obligations to the taxing authorities due to net share settlements are reflected as a financing activity within the unaudited consolidated statements of cash flows.

This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".

+ References+ Details

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References+ Details

Number of share options (or share units) exercised during the current period.

+ References+ Details

Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified

9 Months Ended

Sep. 30, 2015

Sep. 30, 2014

Operating activities:

Adjustments to reconcile net income to net cash provided by operating activities:

$ 195

$ 190

Depreciation of property and equipment, including amortization of internal-use software and website development

Stock-based compensation expense

Gain on sale of business

(17)

^[1]

Deferred tax expense (benefit)

(8)

Excess tax benefits from stock-based compensation

(32)

(20)

Other, net

Changes in operating assets and liabilities, net of effects from acquisitions and dispositions:

Accounts receivable, prepaid expenses and other assets

(75)

(45)

Accounts payable, accrued expenses and other liabilities

Deferred merchant payables

Income taxes, net

Deferred revenue

Net cash provided by operating activities

307

326

Investing activities:

Capital expenditures, including internal-use software and website development

(93)

(55)

Acquisitions, net of cash acquired

(29)

(284)

Proceeds from sale of business, net of cash sold

Purchases of marketable securities

(150)

(219)

Sales of marketable securities

325

Maturities of marketable securities

Net cash used in investing activities

(126)

(145)

Financing activities:

Proceeds from credit facilities

287

Principal payments on term loan

(300)

(30)

Proceeds from exercise of stock options

Payment of minimum withholding taxes on net share settlements of equity awards

(66)

(32)

Excess tax benefits from stock-based compensation

Proceeds from lease incentives related to construction financing obligation on build to suit lease

Other financing activities, net

(3)

Net cash used in financing activities

(61)

(35)

Effect of exchange rate changes on cash and cash equivalents

(8)

(6)

Net increase in cash and cash equivalents

112

140

Cash and cash equivalents at beginning of period

455

351

Cash and cash equivalents at end of period

567

491

Supplemental disclosure of non-cash investing and financing activities:

Capitalization of construction in-process related to build to suit lease

Chinese Credit Facilities

Financing activities:

Proceeds from credit facilities

Payments to credit facilities

$ (41)

$ (3)

[1]	Refer to “Note 3 – Acquisitions and Dispositions” in the notes to our unaudited consolidated financial statements in this Quarterly Report on Form 10-Q for additional information.

Business Description and Basis of Presentation	9 Months Ended
Business Description and Basis of Presentation	Sep. 30, 2015
Accounting Policies [Abstract]
Business Description and Basis of Presentation	NOTE 1: BUSINESS DESCRIPTION AND BASIS OF PRESENTATION We refer to TripAdvisor, Inc. and our wholly-owned subsidiaries as “TripAdvisor,” “the Company,” “us,” “we” and “our” in these notes to the unaudited consolidated financial statements. Description of Business TripAdvisor is an online travel company, empowering users to plan and book the perfect trip. TripAdvisor’s travel research platform aggregates reviews and opinions of members about destinations, accommodations, activities and attractions, and restaurants throughout the world so that our users have access to trusted advice wherever their trips take them. Our platform not only helps users plan their trips with our unique user-generated content, but also enables users to compare real-time pricing and availability so that they can book hotels, vacation rentals, flights, activities and attractions, and restaurants. Our flagship brand is TripAdvisor. TripAdvisor-branded websites include tripadvisor.com in the United States and localized versions of the website in 46 countries worldwide. In addition to the flagship TripAdvisor brand, we manage and operate 23 other media brands, connected by the common goal of providing comprehensive travel planning resources across the travel sector, which include: www.airfarewatchdog.com, www.bookingbuddy.com, www.cruisecritic.com, www.everytrail.com, www.familyvacationcritic.com, www.flipkey.com, www.thefork.com (including www.lafourchette.com, www.eltenedor.com, www.iens.nl, www.besttables.com, and www.dimmi.com.au), www.gateguru.com, www.holidaylettings.co.uk, www.holidaywatchdog.com, www.independenttraveler.com, www.jetsetter.com, www.niumba.com, www.onetime.com, www.oyster.com, www.seatguru.com, www.smartertravel.com, www.tingo.com, www.travelpod.com, www.tripbod.com, www.vacationhomerentals.com, www.viator.com, and www.virtualtourist.com. We derive the substantial portion of our revenue through the sale of advertising, primarily through click-based advertising and, to a lesser extent, display-based advertising. In addition, we earn revenue from a combination of: subscription-based and transaction-based offerings from our Business Listings products; subscription and commission-based offerings from our Vacation Rentals products; transaction revenue from selling room nights through our Jetsetter and Tingo brands; selling destination activities, primarily through Viator; fulfilling online restaurant reservations, primarily through Lafourchette; as well as other revenue including content licensing. We have two reportable segments: Hotel and Other. Our Other segment consists of the aggregation of three operating segments: our Attractions, Restaurants and Vacation Rentals businesses. Our operating segments are determined based on how our chief operating decision maker manages our business, regularly assesses information and evaluates performance for operating decision-making purposes, including allocation of resources. The chief operating decision maker for the Company is our Chief Executive Officer. For further information on our reportable segments see “Note 13 — Segment Information,” in these notes to our unaudited consolidated financial statements. Basis of Presentation The accompanying unaudited financial statements present our results of operations, financial position and cash flows on a consolidated basis. The accompanying unaudited consolidated financial statements include TripAdvisor, 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. One of our subsidiaries that operates in China has a variable interest in an affiliated entity in China in order to comply with Chinese laws and regulations, which restrict foreign investment in Internet content provision businesses. Although we do not own the capital stock of this Chinese affiliate, we consolidate its results as we are the primary beneficiary of the cash losses or profits of this variable interest affiliate and have the power to direct the activity of this affiliate. Our variable interest entity is not material for all periods presented. We have prepared the accompanying unaudited consolidated financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”). We have included all adjustments necessary for a fair presentation of the results of the interim period. These adjustments consist of normal recurring items. We prepared the unaudited consolidated financial statements following the requirements of the U.S. Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, we have condensed or omitted certain footnotes or other financial information that are normally required by GAAP for annual financial statements. 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, 2014, previously filed with the SEC. Reclassifications Pursuant to our disclosure in “Note 16— Segment and Geographic Information” in the notes to our consolidated financial statements in Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2014, management revised our reportable segments. All prior period disclosures have been reclassified to conform to the current reporting structure. These reclassifications had no effect on our unaudited consolidated financial statements. In addition, refer to our discussion in “Note 2— Significant Accounting Policies” below for a required prior period reclassification resulting from the early adoption of new accounting guidance. All other reclassifications made to conform the prior period to the current presentation were not material and had no net effect on our unaudited consolidated financial statements. Accounting Estimates We use estimates and assumptions in the preparation of our 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 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 unaudited consolidated financial statements include: (i) recoverability of intangible assets and goodwill, (ii) recoverability and useful life of long-lived assets, (iii) accounting for income taxes, (iv) purchase accounting for business combinations and (v) stock-based compensation. Seasonality The global travel market is large and traveler expenditures tend to follow a seasonal pattern. As such, expenditures by travel advertisers to market to potential travelers, and, therefore, our financial performance, tend to be seasonal as well. As a result, our third quarter tends to be our seasonal high, as it is a key period for travel research and trip-taking, and our seasonal low generally occurs in the first and/or fourth quarter. Significant shifts in our business mix or adverse economic conditions could influence the typical trend of our seasonality in the future.

Significant Accounting Policies	9 Months Ended
Significant Accounting Policies	Sep. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies	NOTE 2: SIGNIFICANT ACCOUNTING POLICIES Recently Adopted Accounting Pronouncements In April 2015, the FASB issued new accounting guidance which requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures will include the face amount of the debt liability and the effective interest rate. In August 2015, additional accounting guidance was issued on this topic that clarifies the April 2015 guidance for debt issuance costs associated with line-of-credit arrangements, which states the FASB would not object to the continued deferral and presentation of debt issuance costs as an asset, which would be subsequently amortized over the term of the arrangement. This guidance is effective for fiscal years, and the interim periods within those fiscal years, beginning after December 15, 2015, with early application permitted. The Company has early adopted this guidance. The retrospective application of this guidance decreased “Other long-term assets” and “Long-term debt” by $1 million on the consolidated balance sheet as of December 31, 2014. Refer to “Note 8— Debt” below for the current year presentation. New Accounting Pronouncements Not Yet Adopted In September 2015, the FASB issued new accounting guidance which eliminates the requirement for an acquirer in a business combination to account for measurement-period adjustments retrospectively. Instead, acquirers must recognize measurement-period adjustments during the period in which they determine the amounts, including the effect on earnings of any amounts that would have been recorded in previous periods if the accounting had been completed at the acquisition date. This update is effective for interim and annual periods beginning after December 15, 2015, with early adoption permitted. The adoption of this guidance is not expected to have a material impact on our consolidated financial statements and related disclosures. 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. 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 approach or a modified retrospective approach, which requires the initial cumulative effect to be recognized at the date of initial application. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017 and early adoption is permitted for fiscal years beginning after December 15, 2016. We have not yet selected a transition method and we are currently evaluating the effect that the updated standard will have on our consolidated financial statements or related disclosures. There have been no material changes to our significant accounting policies since December 31, 2014. For additional information about our critical accounting policies and estimates, refer to “Note 2— Significant Accounting Policies”, in the notes to our consolidated financial statements in Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2014.

Acquisitions and Dispositions

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Acquisitions and Dispositions

9 Months Ended

Sep. 30, 2015

Business Combinations [Abstract]

NOTE 3: ACQUISITIONS AND DISPOSITIONS

Acquisition of Businesses

During the nine months ended September 30, 2015, we completed three acquisitions for a total purchase price consideration of $28 million. The cash consideration was paid primarily from our international subsidiaries. We acquired 100% of the outstanding capital stock of the following companies: ZeTrip, a personal journal app that helps users log activities, including places they have visited and photos they have taken, purchased in January 2015; BestTables, a provider of an online and mobile reservations platform for restaurants in Portugal and Brazil, purchased in March 2015; and Dimmi, a provider of an online and mobile reservations platform for restaurants in Australia, purchased in May 2015.

These business combinations were accounted for as purchases of businesses under the acquisition method. The fair value of purchase consideration has been allocated to tangible and identifiable intangible assets acquired and liabilities assumed, based on their respective fair values on the acquisition date, with the remaining amount recorded to goodwill. Acquired goodwill represents the premium we paid over the fair value of the net tangible and intangible assets acquired. We paid a premium in each of these transactions for a number of reasons, including expected operational synergies, the assembled workforces, and the future development initiatives of the assembled workforces. The results of each of these acquired businesses have been included in the unaudited consolidated financial statements beginning on the respective acquisition dates. Pro-forma results of operations for all of these acquisitions have not been presented as the financial impact to our unaudited consolidated financial statements, both individually and in aggregate, is not material. During the nine months ended September 30, 2015, acquisition-related costs of $1 million were expensed as incurred and recorded in general and administrative expenses on our unaudited consolidated statement of operations.

The purchase price allocation of our 2015 acquisitions is preliminary and subject to revision as more information becomes available, but in any case will not be revised beyond twelve months after the acquisition date and any change to the fair value of assets acquired or liabilities assumed will lead to a corresponding change to the purchase price allocable to goodwill on a retroactive basis. The primary areas of the purchase price allocation that are not yet finalized are income tax-related balances for all 2015 acquisitions. Acquired goodwill related to our 2015 acquisitions was primarily allocated to our Other segment and is not deductible for tax purposes.

The following table presents the purchase price allocations initially recorded on our unaudited consolidated balance sheet for all 2015 acquisitions (in millions):

	Total
Goodwill	$	17
Intangible assets (1)		12
Net tangible assets		1
Deferred tax liabilities, net		(2	)
Total purchase price consideration (2)	$	28

(1)

Identifiable definite-lived intangible assets acquired during 2015 were comprised of trade names of $2 million with a weighted average life of 9.9 years, customer lists and supplier relationships of $7 million with a weighted average life of 5.9 years and technology and other of $3 million with a weighted average life of 2.5 years. The overall weighted-average life of the identifiable definite-lived intangible assets acquired in the purchase of these businesses during 2015 was 6.0 years, and will be amortized on a straight-line basis over their estimated useful lives from acquisition date.

(2)

Subject to adjustment based on (i) final working capital adjustment calculations to be determined for BestTables and Dimmi, and (ii) indemnification obligations for general representations and warranties of the acquired company stockholders.

Sale of Business

In August 2015, we sold 100% interest in one of our Chinese subsidiaries to an unrelated third party for $28 million in cash consideration, which includes $3 million currently held back by the purchaser for certain short-term contingencies. Accordingly, we deconsolidated $11 million of assets (which included $3 million of cash sold) and $4 million of liabilities from our unaudited consolidated balance sheet and recognized an initial $17 million gain on sale of subsidiary in our unaudited consolidated statement of operations in “Interest income and other, net” during the three and nine months ended September 30, 2015, respectively.

Stock Based Awards and Other Equity Instruments

9 Months Ended

Sep. 30, 2015

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Based Awards and Other Equity Instruments

NOTE 4: STOCK BASED AWARDS AND OTHER EQUITY INSTRUMENTS

Stock-Based Compensation Expense

The following table presents the amount of stock-based compensation expense related to stock-based awards, primarily stock options and restricted stock units (“RSUs”), on our unaudited consolidated statements of operations during the periods presented:

	Three months ended						Nine months ended
	September 30,						September 30,
	2015			2014			2015			2014
	(in millions)						(in millions)
Selling and marketing	$	4		$	4		$	12		$	10
Technology and content		8			7			20			19
General and administrative		7			6			20			17
Total stock-based compensation expense		19			17			52			46
Income tax benefit from stock-based compensation expense		(7	)		(6	)		(19	)		(17	)
Total stock-based compensation expense, net of tax effect	$	12		$	11		$	33		$	29

Stock-Based Award Activity and Valuation

2015 Stock Option Activity

During the nine months ended September 30, 2015, we issued 395,613 service-based non-qualified stock options under the Company’s 2011 Stock and Annual Incentive Plan, as amended (the “2011 Plan”). These stock options have a term of ten years from the date of grant and generally vest equitably over a four-year requisite service period.

A summary of the status and activity for stock option awards relating to our common stock for the nine months ended September 30, 2015, is presented below:

				Weighted		Weighted
				Average		Average
				Exercise		Remaining		Aggregate
	Options			Price Per		Contractual		Intrinsic
	Outstanding			Share		Life		Value
	(in thousands)					(in years)		(in millions)
Options outstanding at January 1, 2015		8,651		$	44.47
Granted		396			85.70
Exercised (1)		(2,759	)		33.78
Cancelled or expired		(243	)		52.73
Options outstanding at September 30, 2015		6,045		$	51.72		5.8	$	106
Exercisable as of September 30, 2015		2,593		$	35.97		4.9	$	74
Vested and expected to vest after September 30, 2015		5,931		$	51.34		5.8	$	105

(1)

Aggregate intrinsic value represents the difference between the closing stock price of our common stock and the exercise price of outstanding, in-the-money options. Our closing stock price as reported on The NASDAQ Global Select Market as of September 30, 2015 was $63.02. The total intrinsic value of stock options exercised for the nine months ended September 30, 2015 and 2014 was $128 million and $71 million, respectively.

The fair value of stock option grants under the 2011 Plan has been estimated at the date of grant using the Black–Scholes option pricing model with the following weighted average assumptions for the periods presented:

	Three months ended						Nine months ended
	September 30,						September 30,
	2015			2014			2015			2014
Risk free interest rate		1.67	%		1.76	%		1.52	%		1.93	%
Expected term (in years)		5.24			5.77			5.21			6.27
Expected volatility		40.24	%		46.09	%		41.76	%		47.70	%
Expected dividend yield	— %			— %			— %			— %

The weighted-average grant date fair value of options granted was $33.24 and $47.03 for the nine months ended September 30, 2015 and 2014, respectively. The total fair value of stock options vested for the nine months ended September 30, 2015 and 2014 was $30 million and $27 million, respectively.

2015 RSU Activity

During the nine months ended September 30, 2015, we issued 707,608 RSUs under the 2011 Plan for which the fair value was measured based on the quoted price of our common stock on the date of grant. These RSUs generally vest over a four-year requisite service period.

The following table presents a summary of our RSU activity during the nine months ended September 30, 2015:

				Weighted
				Average
				Grant-		Aggregate
	RSUs			Date Fair		Intrinsic
	Outstanding			Value Per Share		Value
	(in thousands)					(in millions)
Unvested RSUs outstanding as of January 1, 2015		1,448		$	71.33
Granted		708			84.00
Vested and released (1)		(368	)		66.11
Cancelled		(214	)		72.58
Unvested RSUs outstanding as of September 30, 2015		1,574		$	78.06	$	99

(1)

Inclusive of 112,639 RSUs withheld to satisfy employee minimum tax withholding requirements due to net share settlement. Potential shares which had been convertible under RSUs that were withheld under net share settlement remain in the authorized but unissued pool under the 2011 Plan and can be reissued by the Company. Total payments for the employees’ tax obligations to the taxing authorities due to net share settlements are reflected as a financing activity within the unaudited consolidated statements of cash flows.

Unrecognized Stock-Based Compensation Expense

A summary of our remaining unrecognized stock-based compensation expense, net of estimated forfeitures, and the weighted average remaining amortization period at September 30, 2015 related to our non-vested stock options and RSU awards is presented below (in millions, except per year information):

	Stock
	Options		RSUs
Unrecognized stock-based compensation expense (net of forfeitures)	$	63	$	87
Weighted average period remaining (in years)		2.4		2.8

Investments All Other Investments [Abstract]

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details

Financial Instruments

9 Months Ended

Sep. 30, 2015

Financial Instruments

NOTE 5: FINANCIAL INSTRUMENTS

Cash, Cash Equivalents and Marketable Securities

The following tables show our cash and available-for-sale securities’ amortized cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category recorded as cash and cash equivalents or short and long-term marketable securities for the periods presented (in millions):

	September 30, 2015
									Cash and		Short-Term		Long-Term
	Amortized		Unrealized		Unrealized		Fair		Cash		Marketable		Marketable
	Cost		Gains		Losses		Value		Equivalents		Securities		Securities
Cash	$	506	$	-	$	-	$	506	$	506	$	-	$	-
Level 1:
Money market funds		60		-		-		60		60		-		-
Level 2:
U.S. agency securities		13		-		-		13		-		11		2
U.S. treasury securities		42		-		-		42		-		42		-
Certificates of deposit		10		-		-		10		-		6		4
Commercial paper		5		-		-		5		1		4		-
Corporate debt securities		94		-		-		94		-		56		38
Subtotal		164		-		-		164		1		119		44
Total	$	730	$	-	$	-	$	730	$	567	$	119	$	44

	December 31, 2014
									Cash and		Short-Term		Long-Term
	Amortized		Unrealized		Unrealized		Fair		Cash		Marketable		Marketable
	Cost		Gains		Losses		Value		Equivalents		Securities		Securities
Cash	$	447	$	-	$	-	$	447	$	447	$	-	$	-
Level 1:
Money market funds		8		-		-		8		8		-		-
Level 2:
U.S. agency securities		38		-		-		38		-		35		3
Certificates of deposit		8		-		-		8		-		8		-
Commercial paper		1		-		-		1		-		1		-
Corporate debt securities		92		-		-		92		-		64		28
Subtotal		139		-		-		139		-		108		31
Total	$	594	$	-	$	-	$	594	$	455	$	108	$	31

Our cash and cash equivalents consist of cash on hand in global financial institutions, money market funds and marketable securities with maturities of 90 days or less at the date purchased. The remaining maturities of our long-term marketable securities range from one to three years and our short-term marketable securities include maturities that were greater than 90 days at the date purchased and have 12 months or less remaining at September 30, 2015.

We classify our cash equivalents and marketable securities within Level 1 and Level 2 as we value our cash equivalents and marketable securities using quoted market prices (Level 1) or alternative pricing sources (Level 2). The valuation technique we used to measure the fair value of money market funds was derived from quoted prices in active markets for identical assets or liabilities. Fair values for Level 2 investments are considered “Level 2” valuations because they are obtained from independent pricing sources for identical or comparable instruments, rather than direct observations of quoted prices in active markets. Our procedures include controls to ensure that appropriate fair values are recorded, including comparing the fair values obtained from our independent pricing services against fair values obtained from another independent source.

There were no material realized gains or losses related to sales of our marketable securities for the three and nine months ended September 30, 2015 and 2014, respectively. We consider any individual investments in an unrealized loss position to be temporary in nature and do not consider any of our investments other-than-temporarily impaired.

Derivative Financial Instruments

Our current forward contracts are not designated as hedges and have current maturities of less than 90 days. Consequently, any gain or loss resulting from the change in fair value was recognized in our unaudited consolidated statements of operations. We recorded a net loss of $1 million and a net gain of $1 million for the three and nine months ended September 30, 2015, respectively, related to our settled and outstanding forward contracts in our unaudited consolidated statements of operations in “Interest income and other, net.” All gains and losses for the three and nine months ended September 30, 2014 were not material.

The following table shows the notional principal amount of our outstanding derivative instruments that are not designated as hedging instruments for the periods presented:

September 30,

2015

December 31,

2014

(in millions)

Foreign exchange-forward contracts (1)(2)

(1)

Derivative contracts address foreign exchange fluctuations for the Euro versus the U.S. Dollar.

(2)

The fair value of our derivative instruments are not material as of September 30, 2015 and December 31, 2014. We measure the fair value of our outstanding or unsettled derivatives using Level 2 fair value inputs, as we use a pricing model that takes into account the contract terms as well as current foreign currency exchange rates in active markets.

Counterparties to currency exchange derivatives consist of major international financial institutions. We monitor our positions and the credit ratings of the counterparties involved and, by policy limits, the amount of credit exposure to any one party. While we may be exposed to potential losses due to the credit risk of non-performance by these counterparties, losses are not anticipated and any credit risk amounts associated with our outstanding or unsettled derivative instruments are deemed to be not material for any period presented.

Other Financial Instruments

Other financial instruments not measured at fair value on a recurring basis include trade receivables, trade payables, deferred merchant payables, short-term debt, accrued and other current liabilities and long-term debt. With the exception of long-term debt, the carrying amount approximates fair value because of the short maturity of these instruments as reported on our unaudited consolidated balance sheets as of September 30, 2015 and December 31, 2014, respectively. The carrying value of the long-term debt from our 2015 Credit Facility bears interest at a variable rate and therefore is also considered to approximate fair value.

We did not have any Level 3 assets or liabilities at September 30, 2015 and December 31, 2014.

Property and Equipment, Net

9 Months Ended

Sep. 30, 2015

Property Plant And Equipment [Abstract]

Property and Equipment, Net

NOTE 6: PROPERTY AND EQUIPMENT, NET

Property and equipment, net consists of the following for the periods presented:

	September 30, 2015			December 31, 2014
	(in millions)
Capitalized software and website development	$	128		$	104
Building (1)		123			-
Leasehold improvements		33			40
Computer equipment		37			31
Furniture, office equipment and other		15			11
		336			186
Less: accumulated depreciation		(89	)		(77	)
Construction in progress (1)		-			86
Total	$	247		$	195

(1)

These amounts represent construction costs incurred by the landlord and the Company, related to our corporate headquarters in Needham, MA. During the nine months ended September 30, 2015, we capitalized $6 million in non-cash construction costs which were incurred by the landlord, with a corresponding liability recorded in other long-term liabilities. Upon completion of construction at the end of the second quarter of 2015, this asset was reclassified to a building asset and we began depreciating it over an estimated useful life of 40 years on a straight-line basis. Refer to “Note 12 – Commitments and Contingencies,” in the notes to our unaudited consolidated financial statements in this Quarterly Report on Form 10-Q for additional information on this lease.

Goodwill And Intangible Assets Disclosure [Abstract]

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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Goodwill and Intangible Assets, Net

9 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets, Net

NOTE 7: GOODWILL AND INTANGIBLE ASSETS, NET

The following table summarizes our goodwill activity by segment for the period presented:

	Hotel			Other			Consolidated
	(in millions)
Beginning balance as of January 1, 2015	$	442		$	292		$	734
Acquisitions (1)		1			16			17
Disposition (1)		(1	)		-			(1	)
Other adjustments (2)		-			(15	)		(15	)
Ending balance as of September 30, 2015	$	442		$	293		$	735


(1)	Refer to “Note 3 – Acquisitions and Dispositions,” above for additional information.
(2)	Other adjustments are primarily related to impact of changes in foreign exchange rates.

Intangible assets, which were acquired in business combinations and recorded at fair value on the date of purchase, consist of the following for the periods presented:

	September 30, 2015			December 31, 2014
	(in millions)
Intangible assets with definite lives	$	199		$	202
Less: accumulated amortization		(43	)		(18	)
Intangible assets with definite lives, net		156			184
Intangible assets with indefinite lives		30			30
Total	$	186		$	214

The following table presents the components of our intangible assets with definite lives for the periods presented:

			September 30, 2015							December 31, 2014
	Weighted Average		Gross					Net		Gross					Net
	Remaining Life		Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	(in years)		Amount		Amortization			Amount		Amount		Amortization			Amount
			(in millions)							(in millions)
Trade names and trademarks		8.8	$	53	$	(8	)	$	45	$	52	$	(5	)	$	47
Customer lists and supplier relationships		5.5		82		(15	)		67		77		(5	)		72
Subscriber relationships		5.0		30		(8	)		22		31		(4	)		27
Technology and other		3.4		34		(12	)		22		42		(4	)		38
Total		6.1	$	199	$	(43	)	$	156	$	202	$	(18	)	$	184

Intangible assets with definite lives are amortized on a straight-line basis. The estimated amortization expense for intangible assets with definite lives for each of the next five years, and the expense thereafter, assuming no subsequent impairment of the underlying assets, is expected to be as follows (in millions):

2015 (remaining three months)	$	10
2016		29
2017		28
2018		25
2019		22
2020 and thereafter		42
Total	$	156

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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Debt

9 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

Debt

NOTE 8: DEBT

The Company’s outstanding debt consisted of the following for the periods presented:

	September 30,			December 31,
	2015			2014
	(in millions)
Short-Term Debt:
Chinese Credit Facilities	$	1		$	38
Term Loan		-			40
Total Short-Term Debt	$	1		$	78

Long-Term Debt:
2015 Credit Facility	$	290		$	-
Term Loan		-			260
Less: Unamortized discount and debt issuance costs		(3	)		(1	)
Total Long-Term Debt	$	287		$	259

2011 Credit Facility

On December 20, 2011, we entered into a credit agreement (the “2011 Credit Facility”), which provided $600 million of borrowing including:


—	a term loan facility in an aggregate principal amount of $400 million with a term of five years due December 2016 (“Term Loan”); and
—	a revolving credit facility in an aggregate principal amount of $200 million available in U.S. dollars, Euros and British pound sterling with a term of five years expiring December 2016.

On June 26, 2015, the entire outstanding principal on our Term Loan in the amount of $290 million was repaid with borrowings from our 2015 Credit Facility (described below) and the 2011 Credit Facility was subsequently terminated. The Company was able to repay the Term Loan debt and terminate the 2011 Credit Facility without premium or penalty. There was no resulting loss on early extinguishment of this debt.

During the nine months ended September 30, 2015, we recorded total interest and commitment fees on our 2011 Credit Facility of $3 million to interest expense on our unaudited consolidated statements of operations. During the three and nine months ended September 30, 2014, we recorded total interest and commitment fees on our 2011 Credit Facility of $1 million and $5 million, respectively, to interest expense on our unaudited consolidated statements of operations.

2015 Credit Facility

On June 26, 2015, we entered into a five year credit agreement with JPMorgan Chase Bank, N.A., as Administrative Agent; J.P. Morgan Europe Limited, as London Agent; Morgan Stanley Bank, N.A.; Bank of America, N.A.; BNP Paribas; SunTrust Bank; Wells Fargo Bank, National Association; Royal Bank of Canada; Barclays Bank PLC; U.S. Bank National Association; Citibank, N.A.; The Bank of Tokyo-Mitsubishi UFJ, Ltd.; Goldman Sachs Bank USA; and Deutsche Bank AG New York Branch (the “2015 Credit Facility”).

The 2015 Credit Facility, among other things, provides for (i) a $1 billion unsecured revolving credit facility, (ii) an interest rate on borrowings and commitment fees based on the Company’s and its subsidiaries’ consolidated leverage ratio and (iii) uncommitted incremental revolving loan and term loan facilities, subject to compliance with a leverage covenant and other conditions. Any overdue amounts under or in respect of the revolving credit facility not paid when due shall bear interest at (i) in the case of principal, the applicable interest rate plus 2.00% per annum, (ii) in the case of interest denominated in Sterling or Euro, the applicable rate plus 2.00% per annum and (ii) in the case of interest denominated in US Dollars, 2.00% per annum plus the Alternate Base Rate plus the interest rate spread applicable to ABR loans. The Company may borrow from the revolving credit facility in U.S dollars, Euros and British pound sterling with a term of five years expiring June 26, 2020.

We immediately borrowed $290 million from this revolving credit facility, which was used to repay all outstanding borrowings pursuant to the 2011 Credit Facility and is recorded in long term liabilities on our unaudited balance sheet as of September 30, 2015. There is no specific repayment date prior to the five-year maturity date for borrowings under this revolving credit facility. Based on the Company’s current leverage ratio, our borrowings bear interest at LIBOR plus 125 basis points, or the Eurocurrency Spread. The Company is currently borrowing under a one-month interest period of 1.50% per annum, using a one-month interest period Eurocurrency Spread, which will reset periodically. Interest will be payable on a monthly basis while the Company is borrowing under the one-month interest rate period.

We are also required to pay a quarterly commitment fee, on the daily unused portion of the revolving credit facility for each fiscal quarter and fees in connection with the issuance of letters of credit. Unused revolver capacity is currently subject to a commitment fee of 20.0 basis points, given the Company’s current leverage ratio. The 2015 Credit Facility includes $15 million of borrowing capacity available for letters of credit and $40 million for borrowings on same-day notice. As of September 30, 2015, we had issued $2 million of outstanding letters of credit under the 2015 Credit Facility.

During both the three and nine months ended September 30, 2015, we recorded total interest and commitment fees on our 2015 Credit Facility of $1 million, respectively, to interest expense on our unaudited consolidated statements of operations. All unpaid interest and commitment fee amounts as of September 30, 2015 were not material.

In connection with the 2015 Credit Facility, we incurred lender fees and debt financing costs totaling $3 million, which are recorded as a reduction of the 2015 Credit Facility borrowings and reported in long-term debt on the unaudited consolidated balance sheet as of September 30, 2015. These costs will be amortized over the term of the 2015 Credit Facility using the effective interest rate method and will be recorded to interest expense on our unaudited consolidated statements of operations.

We may voluntarily repay any outstanding borrowing under the 2015 Credit Facility at any time without premium or penalty, other than customary breakage costs with respect to Eurocurrency loans. Certain wholly-owned domestic subsidiaries of the Company have agreed to guarantee the Company’s obligations under the 2015 Credit Facility.

The 2015 Credit Facility contains a number of covenants that, among other things, restrict our ability to: incur additional indebtedness, create liens, enter into sale and leaseback transactions, engage in mergers or consolidations, sell or transfer assets, pay dividends and distributions, make investments, loans or advances, prepay certain subordinated indebtedness, make certain acquisitions, engage in certain transactions with affiliates, amend material agreements governing certain subordinated indebtedness, and change our fiscal year. The 2015 Credit Facility also requires us to maintain a maximum leverage ratio and contains certain customary affirmative covenants and events of default, including a change of control. If an event of default occurs, the lenders under the 2015 Credit Facility will be entitled to take various actions, including the acceleration of all amounts due under 2015 Credit Facility. As of September 30, 2015, we are in compliance with all of our debt covenants.

The full text of the credit agreement entered into in connection with the 2015 Credit Facility is incorporated by reference in this Quarterly Report to Exhibit 10.1 of the Company’s Current Report on Form 8-K filed June 30, 2015.

Chinese Credit Facilities

In addition to our borrowings under the 2015 Credit Facility, we maintain our Chinese Credit Facilities. As of September 30, 2015 and December 31, 2014, we had short-term borrowings outstanding of $1 million and $38 million, respectively.

Our Chinese subsidiary is entered into a RMB 189,000,000 (approximately $30 million), one-year revolving credit facility with Bank of America (the “Chinese Credit Facility—BOA”) that is currently subject to review on a periodic basis with no specific expiration period. Our Chinese Credit Facility—BOA currently bears interest at a rate based on 100% of the People’s Bank of China’s base rate, which was 4.60% as of September 30, 2015. During the three months ended June 30, 2015, the Company made a $22 million repayment of our outstanding borrowings on our Chinese Credit Facilities- BOA. As of September 30, 2015, we had $1 million of outstanding borrowings from the Chinese Credit Facility—BOA.

In addition, our Chinese subsidiary is entered into a RMB 125,000,000 (approximately $20 million) one-year revolving credit facility with J.P. Morgan Chase Bank (“Chinese Credit Facility—JPM”). Our Chinese Credit Facility—JPM currently also bears interest at a rate based on 100% of the People’s Bank of China’s base rate, which was 4.60% as of September 30, 2015. During the three months ended June 30, 2015, the Company made a $19 million repayment of our outstanding borrowings on our Chinese Credit Facilities- JPM. As of September 30, 2015, there are no outstanding borrowings under our Chinese Credit Facility – JPM.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 9: INCOME TAXES Each interim period is considered an integral part of the annual period and, accordingly, we measure our income tax expense using an estimated annual effective tax rate. A company is required, at the end of each interim reporting period, to make its best estimate of the annual effective tax rate for the full fiscal year and use that rate to provide for income taxes on a current year-to-date basis, as adjusted for discrete taxable events that occur during the interim period. Our effective tax rate for the three and nine months ended September 30, 2015 was 24.5% and 26.4%, respectively. Our effective tax rate for the three and nine months ended September 30, 2014 was 28.0% and 28.8%, respectively. For the three and nine months ended September 30, 2015, the effective tax rate is less than the federal statutory rate primarily due to earnings in jurisdictions outside the United States, where our effective tax rate is lower, which was partially offset by state income taxes, non-deductible stock compensation and accruals on uncertain tax positions. The change in the effective tax rate for 2015 compared to the 2014 effective tax rate was primarily due to a change in jurisdictional earnings, including a non-taxable gain related to the sale of one of our Chinese subsidiaries, as well as certain discrete items. Our policy is to recognize accrued interest and penalties related to unrecognized tax benefits and income tax liabilities as part of our income tax expense. As of September 30, 2015, accrued interest is $4 million, net of federal benefit, and no penalties have been accrued. We do not anticipate any material releases in the next twelve months. We are under examination by the Internal Revenue Service (“IRS”) for the 2009 and 2010 tax years with respect to consolidated income tax returns previously filed with Expedia, Inc., and we have various ongoing state income tax audits. We are separately under examination by the IRS for the 2012 and 2013 tax years. These audits include questioning of the timing and the amount of income and deductions and the allocation of income among various tax jurisdictions. These examinations may lead to proposed or ordinary course adjustments to our taxes. We are no longer subject to tax examinations by tax authorities for years prior to 2007. As of September 30, 2015, no material assessments have resulted. During the three months ended June 30, 2015, we received notification of a proposed adjustment from the IRS for the 2009 and 2010 tax years and we anticipate receiving additional notices of proposed adjustments for the same years. These proposed adjustments are related to transfer pricing with our foreign subsidiaries, and would result in an increase to U.S. taxable income and federal tax expense for 2009 and 2010, subject to interest. Our policy is to review and update tax reserves as facts and circumstances change. Based on our interpretation of the regulations and available case law, we believe the position we have taken with regard to transfer pricing with our foreign subsidiaries is sustainable. We intend to defend our position through IRS administrative and, if necessary, by judicial remedies. As of September 30, 2015, no additional adjustments have been proposed. In addition, on July 27, 2015, the U.S. Tax Court in Altera Corp. v. Commissioner issued an opinion with respect to Altera’s litigation with the IRS, concerning the treatment of stock- based compensation expense in an intercompany cost sharing arrangement. A final decision has yet to be issued by the U.S. Tax Court due to other outstanding issues related to the case. We concluded that no adjustment to our consolidated financial statements is appropriate at this time, related to our transfer pricing arrangements, due to the uncertainties with respect to the ultimate resolution of this case. We will continue to monitor ongoing developments and the potential impact, if any, to our consolidated financial statements.

Accrued Expenses and Other Current Liabilities

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Accrued Expenses and Other Current Liabilities

9 Months Ended

Sep. 30, 2015

Payables And Accruals [Abstract]

NOTE 10: ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consisted of the following for the periods presented:

	September 30, 2015		December 31, 2014
	(in millions)
Accrued salary, bonus, and related benefits	$	47	$	41
Accrued marketing costs		36		24
Accrued charitable foundation payments		6		9
Other		40		40
Total	$	129	$	114

Other Long-Term Liabilities

9 Months Ended

Sep. 30, 2015

Other Liabilities Noncurrent [Abstract]

Other Long-Term Liabilities

NOTE 11: OTHER LONG-TERM LIABILITIES

Other long-term liabilities consisted of the following for the periods presented:

	September 30, 2015		December 31, 2014
	(in millions)
Unrecognized tax benefits (1)	$	85	$	68
Financing obligation, net of current portion (2)		83		67
Other (3)		19		19
Total	$	187	$	154

(1)	Amount includes accrued interest related to this liability.
(2)	Refer to “Note 12 – Commitments and Contingencies,” in the notes to our unaudited consolidated financial statements in this Quarterly Report on Form 10-Q for additional information on our corporate headquarters lease.
(3)	Amounts primarily consist of long term deferred rent balances related to operating leases for office space.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 12: COMMITMENTS AND CONTINGENCIES Corporate Headquarters Lease In June 2013, TripAdvisor LLC (“TA LLC”), our indirect, wholly owned subsidiary, entered into a lease, for a new corporate headquarters (the “Lease”). Pursuant to the Lease, the landlord built an approximately 280,000 square foot rental building in Needham, Massachusetts (the “Premises”), and leased the Premises to TA LLC as our new corporate headquarters for an initial term of 15 years and 7 months or through December 2030. Under the Lease, TA LLC is required to pay an initial base rent of $33.00 per square foot per year, increasing to $34.50 per square foot per year by the final year of the initial term, as well as all real estate taxes and other building operating costs. TA LLC also has an option to extend the term of the Lease for two consecutive terms of five years each. The aggregate future minimum lease payments are $143 million and are currently scheduled to be paid, beginning in November 2015, as follows: $1 million for 2015, $9 million for 2016, $9 million for 2017, $9 million for 2018, $9 million for 2019 and an aggregate of $106 million for 2020 and thereafter. The Lease has escalating rental payments and initial periods of free rent. TA LLC was also obligated to deliver a letter of credit to the Landlord in the amount of $1 million as security deposit, which amount is subject to increase under certain circumstances. Because we were involved in the construction project, including responsible for paying a portion of the costs of normal finish work and structural elements of the Premises, the Company was deemed for accounting purposes to be the owner of the Premises during the construction period under build to suit lease accounting guidance under GAAP. Therefore, the Company recorded project construction costs incurred by the landlord as a construction-in-progress asset and a related construction financing obligation during the construction period on our consolidated balance sheets. The amounts that the Company has paid or incurred for normal tenant improvements and structural improvements had also been recorded to the construction-in-progress asset. Upon completion of construction at end of the second quarter of 2015, we evaluated the construction-in-progress asset and construction financing obligation for de-recognition under the criteria for “sale-leaseback” treatment under GAAP. We concluded that we have forms of continued economic involvement in the facility, and therefore did not meet the provisions for sale-leaseback accounting. This determination was based on the Company's continuing involvement with the property in the form of non-recourse financing to the lessor. Therefore, the Lease has been accounted for as a financing obligation. Accordingly, we will depreciate the building asset over its estimated useful life and incur interest expense related to the financing obligation using the effective interest rate method. We will bifurcate our lease payments pursuant to the Premises into: (i) a portion that is allocated to the building (a reduction to the financing obligation) and; (ii) a portion that is allocated to the land on which the building was constructed. Although we will not begin making lease payments pursuant to the Lease until November 2015, the portion of the lease obligations allocated to the land has been treated for accounting purposes as an operating lease that commenced in 2013. The financing obligation is considered a long-term finance lease obligation with the current portion recorded to “Accrued expenses and other” on our unaudited consolidated balance sheet. At the end of the lease term, the carrying value of the building asset and the remaining financing obligation are expected to be equal, at which time we may either surrender the leased asset as settlement of the remaining financing obligation or extend the initial term of the lease for the continued use of the asset. Legal Proceedings In the ordinary course of business, we and our subsidiaries are parties to legal proceedings and claims arising out of our operations. These matters may involve claims involving alleged infringement of third-party intellectual property rights (including patent infringement), defamation, taxes, regulatory compliance privacy issues and other claims. Rules and regulations promulgated by the SEC require the description of material pending legal proceedings, other than ordinary, routine litigation incident to the registrant’s business, and advise that proceedings ordinarily need not be described if they primarily involve damages claims for amounts (exclusive of interest and costs) not individually exceeding 10% of the current assets of the registrant and its subsidiaries on a consolidated basis. In the judgment of management, none of the pending litigation matters that the Company and its subsidiaries are defending involves or is likely to involve amounts of that magnitude. There may be claims or actions pending or threatened against us of which we are currently not aware and the ultimate disposition of which could have a material adverse effect on us. There have been no material changes to our commitments and contingencies since December 31, 2014, except as described in “Note 8— Debt” in the notes to our unaudited consolidated financial statements in this Quarterly Report on Form 10-Q regarding our 2011 Credit Facility and 2015 Credit Facility. Refer to “Note 12— Commitments and Contingencies,” in the notes to our consolidated financial statements in Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2014.

The entire disclosure for commitments and contingencies.

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Segment Information

9 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

Segment Information

NOTE 13: SEGMENT INFORMATION

Our reporting structure includes two reportable segments: Hotel and Other.

Hotel

Our Hotel segment includes revenue generated from services related to hotels, including click-based and display-based advertising revenue from making hotel room reservations, airline reservations, and cruise reservations available for price comparison and booking, as well as subscription-based products such as Business Listings, transaction-based products such as Jetsetter and Tingo, and other hotel related revenue. Our chief operating decision maker, or CODM, is also the Hotel segment manager.

Other

Our Other segment consists of the aggregation of three operating segments: our Attractions, Restaurants and Vacation Rentals businesses.

Attractions. We provide, through Viator, information and services for researching and booking destination activities around the world. Viator works with local operators to provide travelers with access to tours and activities in popular destinations worldwide, earning a commission for such service. In addition to its consumer-direct business, Viator also provides local experiences to affiliate partners, including some of the world’s top airlines, hotels and travel agencies.

Restaurants. This business is comprised of our websites that provide online and mobile reservation services that connect restaurants with diners. These websites are currently primarily focused on the European market, primarily through Lafourchette. Lafourchette is an online restaurant booking platform with a network of restaurant partners across Europe. Lafourchette also offers management software solutions helping restaurants to maximize business by providing a flexible online booking, discount and data tool. Revenue is primarily generated by receiving a fee for each restaurant guest seated through the online reservation systems.

Vacation Rentals. We offer individual property owners and property managers the ability to list their properties available for rental and connect with travelers using a subscription-based fee structure or a free-to-list, commission per booking based option. Our vacation rental inventory currently includes full home rentals, condos, villas, beach rentals, cabins, cottages, and many other accommodation types. These properties are listed across a number of platforms, including TripAdvisor Vacation Rentals, U.S.-based FlipKey, and European-based Holiday Lettings and Niumba.

Each operating segment in our Other segment has a segment manager who is directly accountable to and maintains regular contact with our CODM to discuss operating activities, financial results, forecasts, and plans for the segment.

We define Adjusted EBITDA as net income (loss) plus: (1) provision for income taxes; (2) other income (expense), net; (3) depreciation of property and equipment, including amortization of internal use software and website development; (4) amortization of intangible assets; (5) stock-based compensation and other stock-settled obligations; (6) goodwill, long-lived asset and intangible asset impairments; and (7) other non-recurring expenses. Adjusted EBITDA is the primary metric by which management evaluates the performance of its business and on which internal budgets are based. In particular, the exclusion of certain expenses in calculating Adjusted EBITDA facilitates operating performance comparisons on a period-to-period basis. We believe by excluding certain non-cash expenses, such as stock-based compensation, stock-settled obligations, asset impairments, and non-recurring expenses, Adjusted EBITDA corresponds more closely to the cash that operating income generated from our business and allows investors to gain an understanding of the factors and trends affecting the ongoing cash earnings capabilities of our business, from which capital investments are made and debt is serviced.

The following tables present our segment information for the three and nine months ended September 30, 2015 and 2014. We have recorded depreciation of property and equipment, including amortization of internal-use software and website development, amortization of intangible assets, stock-based compensation, other non-recurring expenses, other expenses, net, and income taxes, which are excluded from segment operating performance, in Corporate and unallocated. In addition, we do not report our assets or capital expenditures by segment as it would not be meaningful. We also do not regularly provide asset, capital expenditure or depreciation information by segment to our CODM. Our consolidated general and administrative expenses, excluding stock-based compensation costs, are shared by all operating segments. Each operating segment receives an allocated charge based on the segment’s percentage of the Company’s total personnel costs.

	Three months ended September 30, 2015
	Hotel		Other		Corporate and unallocated			Total
	(in millions)
Revenue	$	340	$	75	$	—		$	415
Adjusted EBITDA (1)		121		9		—			130
Depreciation		—		—		(13	)		(13	)
Amortization of intangible assets		—		—		(10	)		(10	)
Stock-based compensation		—		—		(19	)		(19	)
Operating income (loss)	$	121	$	9	$	(42	)		88
Other income, net									10
Income before income taxes									98
Provision for income taxes									(24	)
Net income									74

	Three months ended September 30, 2014
	Hotel		Other		Corporate and unallocated			Total
	(in millions)
Revenue	$	315	$	39	$	—		$	354
Adjusted EBITDA (2)		118		1		—			119
Depreciation		—		—		(12	)		(12	)
Amortization of intangible assets		—		—		(6	)		(6	)
Stock-based compensation		—		—		(17	)		(17	)
Operating income (loss)	$	118	$	1	$	(35	)		84
Other expense, net									(9	)
Income before income taxes									75
Provision for income taxes									(21	)
Net income									54

	Nine months ended September 30, 2015
	Hotel		Other		Corporate and unallocated			Total
	(in millions)
Revenue	$	1,003	$	180	$	—		$	1,183
Adjusted EBITDA (1)		377		2		—			379
Depreciation		—		—		(42	)		(42	)
Amortization of intangible assets		—		—		(26	)		(26	)
Stock-based compensation		—		—		(52	)		(52	)
Other non-recurring expenses						(2	)		(2	)
Operating income (loss)	$	377	$	2	$	(122	)		257
Other income, net									8
Income before income taxes									265
Provision for income taxes									(70	)
Net income									195

	Nine months ended September 30, 2014
	Hotel		Other			Corporate and unallocated			Total
	(in millions)
Revenue	$	884	$	74		$	—		$	958
Adjusted EBITDA (2)		372		(2	)		—			370
Depreciation		—		—			(33	)		(33	)
Amortization of intangible assets		—		—			(11	)		(11	)
Stock-based compensation		—		—			(46	)		(46	)
Operating income (loss)	$	372	$	(2	)	$	(90	)		280
Other expense, net										(13	)
Income before income taxes										267
Provision for income taxes										(77	)
Net income										190

(1)	Includes allocated general and administrative expenses in our Hotel segment of $23 million and $69 million; and in our Other segment of $8 million and $23 million for the three and nine months ended September 30, 2015, respectively.
(2)	Includes allocated general and administrative expenses in our Hotel segment of $24 million and $65 million; and in our Other segment of $6 million and $12 million for the three and nine months ended September 30, 2014, respectively.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Earnings Per Share

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 14: EARNINGS PER SHARE

Basic Earnings Per Share Attributable to Common Stockholders

We compute basic earnings per share (“Basic EPS”) by dividing net income by the weighted average number of common shares outstanding during the period. We compute the weighted average number of common shares outstanding during the reporting period using the total of common stock and Class B common stock outstanding as of the last day of the previous year end reporting period plus the weighted average of any additional shares issued and outstanding less the weighted average of any treasury shares repurchased during the reporting period.

Diluted Earnings Per Share Attributable to Common Stockholders

We compute diluted earnings per share (“Diluted EPS”) by dividing net income by the sum of the weighted average number of common and common equivalent shares outstanding during the period. We computed the weighted average number of common and common equivalent shares outstanding during the period using the sum of (i) the number of shares of common stock and Class B common stock used in the basic earnings per share calculation as indicated above, and (ii) if dilutive, the incremental weighted average common stock that we would issue upon the assumed exercise of outstanding common equivalent shares related to stock options and the vesting of restricted stock units using the treasury stock method, and (iii) if dilutive, performance based awards based on the number of shares that would be issuable as of the end of the reporting period assuming the end of the reporting period was also the end of the contingency period.

Under the treasury stock method, the assumed proceeds calculation includes the actual proceeds to be received from the employee upon exercise, the average unrecognized compensation cost during the period and any tax benefits credited upon exercise to additional paid-in-capital. The treasury stock method assumes that a company uses the proceeds from the exercise of an award to repurchase common stock at the average market price for the period. Windfall tax benefits created upon the exercise of an award would be added to assumed proceeds, while shortfalls charged to additional paid-in-capital would be deducted from assumed proceeds. Any shortfalls not covered by the windfall tax pool would be charged to the income statement and would be excluded from the calculation of assumed proceeds, if any.

Below is a reconciliation of the weighted average number of shares of common stock outstanding in calculating Basic and Diluted EPS (shares in thousands and U.S. dollars in millions, except per share amounts) for the periods presented:

	Three months ended				Nine months ended
	September 30,				September 30,
	2015		2014		2015		2014
Numerator:
Net income	$	74	$	54	$	195	$	190
Denominator:
Weighted average shares used to compute Basic EPS		144,133		142,842		143,662		142,648
Weighted average effect of dilutive securities:
Stock options		1,442		2,851		1,959		2,837
RSUs		253		378		265		354
Weighted average shares used to compute Diluted EPS		145,828		146,071		145,886		145,839
Basic EPS	$	0.51	$	0.38	$	1.35	$	1.33
Diluted EPS	$	0.51	$	0.37	$	1.34	$	1.30

The following potential common shares related to stock options and RSUs were excluded from the calculation of Diluted EPS because their effect would have been anti-dilutive for the periods presented (in thousands):

	Three months ended				Nine months ended
	September 30,				September 30,
	2015(1)		2014(2)		2015(1)		2014(2)
Stock options		2,110		599		2,119		1,325
RSUs		303		6		629		167
Total		2,413		605		2,748		1,492

(1)

These totals do not include 66,666 performance based options and 12,799 performance based RSUs representing the right to acquire 79,465 shares of common stock for which all targets required to trigger vesting have not been achieved; therefore, such awards were excluded from the calculation of weighted average shares used to compute Diluted EPS for those reporting periods.

(2)

These totals do not include 66,666 performance based options and 44,000 performance based RSUs representing the right to acquire 110,666 shares of common stock for which all targets required to trigger vesting have not been achieved; therefore, such awards were excluded from the calculation of weighted average shares used to compute Diluted EPS for those reporting periods.

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.

The entire disclosure for earnings per share.

+ References+ Details

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 15: RELATED PARTY TRANSACTIONS As of September 30, 2015, Liberty TripAdvisor Holdings, Inc. (“LTRIP”) beneficially owned 18,159,752 shares of our common stock and 12,799,999 shares of our Class B common stock, which shares constitute 13.8% of the outstanding shares of common stock and 100% of the outstanding shares of Class B common stock. Assuming the conversion of all of LTRIP’s shares of Class B common stock into common stock, LTRIP would beneficially own 21.5% of the outstanding common stock. Because each share of Class B common stock generally is entitled to ten votes per share and each share of common stock is entitled to one vote per share, LTRIP may be deemed to beneficially own equity securities representing approximately 56.4% of our voting power. We had no related party transactions with LTRIP during the three and nine months ended September 30, 2015 and 2014, respectively.

Interest And Other Income [Abstract]

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References+ Details

Interest Income and Other, Net

9 Months Ended

Sep. 30, 2015

Interest Income and Other, Net

NOTE 16: INTEREST INCOME AND OTHER, NET

The following table presents the detail of interest income and other, net, for the periods presented:

	Three months ended						Nine months ended
	September 30,						September 30,
	2015			2014			2015			2014
	(in millions)						(in millions)
Net loss, realized and unrealized, on foreign exchange and foreign currency derivative contracts and other, net	$	(4	)	$	(7	)	$	(3	)	$	(8	)
Interest income		-			-			1			1
Gain on sale of business (1)		17			-			17			-
Total	$	13		$	(7	)	$	15		$	(7	)


(1)	Refer to “Note 3 – Acquisitions and Dispositions” in the notes to our unaudited consolidated financial statements in this Quarterly Report on Form 10-Q for additional information.

Subsequent Events

9 Months Ended

Sep. 30, 2015

Subsequent Events [Abstract]

Subsequent Events

NOTE 17: SUBSEQUENT EVENTS

On October 8, 2015, the Company announced the appointment of Ernst Teunissen as Senior Vice President and Chief Financial Officer, effective as of November 9, 2015. In connection with his appointment, on October 6, 2015, the Company entered into an employment agreement with Mr. Teunissen, to be effective on November 9, 2015 and expiring on March 31, 2018 (the “Employment Agreement”). The Employment Agreement entered into with Mr. Teunissen was filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed October 8, 2015 and is incorporated by reference in this Quarterly Report on Form 10-Q for the quarter ended September 30, 2015.

On November 4, 2015, the Compensation Committee approved, and the Company entered into, a verbal amendment to the Separation Agreement entered into with Julie M.B. Bradley, the Company’s current Chief Financial Officer. Previously, the Company and Ms. Bradley entered into a Separation Agreement, dated April 2, 2015 (the “Separation Agreement”), pursuant to which Ms. Bradley agreed to remain with the Company on a full-time basis for a transition period, which would last until the earlier of September 30, 2015 or thirty days following her successor’s start date (the “Transition Period”). In order to provide for an orderly transition of responsibilities to Mr. Teunissen, who will not join the Company until November 9, 2015, Ms. Bradley and the Company have verbally agreed as follows:

the Transition Period will be extended to November 20, 2015 (the “Separation Date”);

the Company will continue to pay Ms. Bradley’s base salary through August 2016;

the Company will pay Ms. Bradley approximately $187,000, an amount equal to her target annual bonus for 2015 prorated through the Separation Date;

any compensation awards of Ms. Bradley that are outstanding and unvested as of the Separation Date that would, but for her termination of employment, have vested on or before July 31, 2016 (the “Equity Acceleration Period”) shall vest (and, with respect to restricted stock units, shall settle) as of the Separation Date; provided, that any outstanding equity award with a vesting schedule that would, but for the termination of employment, have resulted in a smaller percentage (or none) of the equity award being vested through the end of such Equity Acceleration Period than if it had vested monthly pro rata over its vesting period shall, for purposes of this provision, be treated as though it vested monthly pro rata over its vesting period; and

any vested options to purchase shares of the Company’s equity held by Ms. Bradley shall remain exercisable through the date that is 18 months following the Separation Date or, if earlier, through the scheduled expiration date of such options.

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited financial statements present our results of operations, financial position and cash flows on a consolidated basis. The accompanying unaudited consolidated financial statements include TripAdvisor, 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. One of our subsidiaries that operates in China has a variable interest in an affiliated entity in China in order to comply with Chinese laws and regulations, which restrict foreign investment in Internet content provision businesses. Although we do not own the capital stock of this Chinese affiliate, we consolidate its results as we are the primary beneficiary of the cash losses or profits of this variable interest affiliate and have the power to direct the activity of this affiliate. Our variable interest entity is not material for all periods presented. We have prepared the accompanying unaudited consolidated financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”). We have included all adjustments necessary for a fair presentation of the results of the interim period. These adjustments consist of normal recurring items. We prepared the unaudited consolidated financial statements following the requirements of the U.S. Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, we have condensed or omitted certain footnotes or other financial information that are normally required by GAAP for annual financial statements. 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, 2014, previously filed with the SEC.
Reclassifications	Reclassifications Pursuant to our disclosure in “Note 16— Segment and Geographic Information” in the notes to our consolidated financial statements in Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2014, management revised our reportable segments. All prior period disclosures have been reclassified to conform to the current reporting structure. These reclassifications had no effect on our unaudited consolidated financial statements. In addition, refer to our discussion in “Note 2— Significant Accounting Policies” below for a required prior period reclassification resulting from the early adoption of new accounting guidance. All other reclassifications made to conform the prior period to the current presentation were not material and had no net effect on our unaudited consolidated financial statements.
Accounting Estimates	Accounting Estimates We use estimates and assumptions in the preparation of our 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 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 unaudited consolidated financial statements include: (i) recoverability of intangible assets and goodwill, (ii) recoverability and useful life of long-lived assets, (iii) accounting for income taxes, (iv) purchase accounting for business combinations and (v) stock-based compensation.
Seasonality	Seasonality The global travel market is large and traveler expenditures tend to follow a seasonal pattern. As such, expenditures by travel advertisers to market to potential travelers, and, therefore, our financial performance, tend to be seasonal as well. As a result, our third quarter tends to be our seasonal high, as it is a key period for travel research and trip-taking, and our seasonal low generally occurs in the first and/or fourth quarter. Significant shifts in our business mix or adverse economic conditions could influence the typical trend of our seasonality in the future.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In April 2015, the FASB issued new accounting guidance which requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures will include the face amount of the debt liability and the effective interest rate. In August 2015, additional accounting guidance was issued on this topic that clarifies the April 2015 guidance for debt issuance costs associated with line-of-credit arrangements, which states the FASB would not object to the continued deferral and presentation of debt issuance costs as an asset, which would be subsequently amortized over the term of the arrangement. This guidance is effective for fiscal years, and the interim periods within those fiscal years, beginning after December 15, 2015, with early application permitted. The Company has early adopted this guidance. The retrospective application of this guidance decreased “Other long-term assets” and “Long-term debt” by $1 million on the consolidated balance sheet as of December 31, 2014. Refer to “Note 8— Debt” below for the current year presentation.
New Accounting Pronouncements Not Yet Adopted	New Accounting Pronouncements Not Yet Adopted In September 2015, the FASB issued new accounting guidance which eliminates the requirement for an acquirer in a business combination to account for measurement-period adjustments retrospectively. Instead, acquirers must recognize measurement-period adjustments during the period in which they determine the amounts, including the effect on earnings of any amounts that would have been recorded in previous periods if the accounting had been completed at the acquisition date. This update is effective for interim and annual periods beginning after December 15, 2015, with early adoption permitted. The adoption of this guidance is not expected to have a material impact on our consolidated financial statements and related disclosures. 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. 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 approach or a modified retrospective approach, which requires the initial cumulative effect to be recognized at the date of initial application. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017 and early adoption is permitted for fiscal years beginning after December 15, 2016. We have not yet selected a transition method and we are currently evaluating the effect that the updated standard will have on our consolidated financial statements or related disclosures.

Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2015

Business Combinations [Abstract]

Summary of Purchase Price Allocation Initially Recorded on Unaudited Consolidated Balance Sheet for All Acquisitions

The following table presents the purchase price allocations initially recorded on our unaudited consolidated balance sheet for all 2015 acquisitions (in millions):

	Total
Goodwill	$	17
Intangible assets (1)		12
Net tangible assets		1
Deferred tax liabilities, net		(2	)
Total purchase price consideration (2)	$	28

(1)

(2)

Stock Based Awards and Other Equity Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Amount of Stock-Based Compensation Expense Related to Stock-Based Awards, Primarily Stock Options and Restricted Stock Units (RSUs)

	Three months ended						Nine months ended
	September 30,						September 30,
	2015			2014			2015			2014
	(in millions)						(in millions)
Selling and marketing	$	4		$	4		$	12		$	10
Technology and content		8			7			20			19
General and administrative		7			6			20			17
Total stock-based compensation expense		19			17			52			46
Income tax benefit from stock-based compensation expense		(7	)		(6	)		(19	)		(17	)
Total stock-based compensation expense, net of tax effect	$	12		$	11		$	33		$	29

Summary of Stock Option

A summary of the status and activity for stock option awards relating to our common stock for the nine months ended September 30, 2015, is presented below:

				Weighted		Weighted
				Average		Average
				Exercise		Remaining		Aggregate
	Options			Price Per		Contractual		Intrinsic
	Outstanding			Share		Life		Value
	(in thousands)					(in years)		(in millions)
Options outstanding at January 1, 2015		8,651		$	44.47
Granted		396			85.70
Exercised (1)		(2,759	)		33.78
Cancelled or expired		(243	)		52.73
Options outstanding at September 30, 2015		6,045		$	51.72		5.8	$	106
Exercisable as of September 30, 2015		2,593		$	35.97		4.9	$	74
Vested and expected to vest after September 30, 2015		5,931		$	51.34		5.8	$	105

(1)

Weighted-Average Assumptions of Estimated Fair Value of Stock Option Grants

	Three months ended						Nine months ended
	September 30,						September 30,
	2015			2014			2015			2014
Risk free interest rate		1.67	%		1.76	%		1.52	%		1.93	%
Expected term (in years)		5.24			5.77			5.21			6.27
Expected volatility		40.24	%		46.09	%		41.76	%		47.70	%
Expected dividend yield	— %			— %			— %			— %

Summary of RSU Activity

The following table presents a summary of our RSU activity during the nine months ended September 30, 2015:

				Weighted
				Average
				Grant-		Aggregate
	RSUs			Date Fair		Intrinsic
	Outstanding			Value Per Share		Value
	(in thousands)					(in millions)
Unvested RSUs outstanding as of January 1, 2015		1,448		$	71.33
Granted		708			84.00
Vested and released (1)		(368	)		66.11
Cancelled		(214	)		72.58
Unvested RSUs outstanding as of September 30, 2015		1,574		$	78.06	$	99

(1)

Summary of Unrecognized Stock-Based Compensation Expense, Net of Estimated Forfeitures and Weighted Average Period Remaining

	Stock
	Options		RSUs
Unrecognized stock-based compensation expense (net of forfeitures)	$	63	$	87
Weighted average period remaining (in years)		2.4		2.8

Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Investments All Other Investments [Abstract]

Schedule of Cash, Cash Equivalents and Marketable Securities

	September 30, 2015
									Cash and		Short-Term		Long-Term
	Amortized		Unrealized		Unrealized		Fair		Cash		Marketable		Marketable
	Cost		Gains		Losses		Value		Equivalents		Securities		Securities
Cash	$	506	$	-	$	-	$	506	$	506	$	-	$	-
Level 1:
Money market funds		60		-		-		60		60		-		-
Level 2:
U.S. agency securities		13		-		-		13		-		11		2
U.S. treasury securities		42		-		-		42		-		42		-
Certificates of deposit		10		-		-		10		-		6		4
Commercial paper		5		-		-		5		1		4		-
Corporate debt securities		94		-		-		94		-		56		38
Subtotal		164		-		-		164		1		119		44
Total	$	730	$	-	$	-	$	730	$	567	$	119	$	44

	December 31, 2014
									Cash and		Short-Term		Long-Term
	Amortized		Unrealized		Unrealized		Fair		Cash		Marketable		Marketable
	Cost		Gains		Losses		Value		Equivalents		Securities		Securities
Cash	$	447	$	-	$	-	$	447	$	447	$	-	$	-
Level 1:
Money market funds		8		-		-		8		8		-		-
Level 2:
U.S. agency securities		38		-		-		38		-		35		3
Certificates of deposit		8		-		-		8		-		8		-
Commercial paper		1		-		-		1		-		1		-
Corporate debt securities		92		-		-		92		-		64		28
Subtotal		139		-		-		139		-		108		31
Total	$	594	$	-	$	-	$	594	$	455	$	108	$	31

Fair Value and Notional Principal Amounts of Outstanding or Unsettled Derivative Instruments

The following table shows the notional principal amount of our outstanding derivative instruments that are not designated as hedging instruments for the periods presented:

September 30,

2015

December 31,

2014

(in millions)

Foreign exchange-forward contracts (1)(2)

(1)

Derivative contracts address foreign exchange fluctuations for the Euro versus the U.S. Dollar.

(2)

Property and Equipment, Net (Tables)

9 Months Ended

Sep. 30, 2015

Property Plant And Equipment [Abstract]

Property and Equipment, Net

Property and equipment, net consists of the following for the periods presented:

	September 30, 2015			December 31, 2014
	(in millions)
Capitalized software and website development	$	128		$	104
Building (1)		123			-
Leasehold improvements		33			40
Computer equipment		37			31
Furniture, office equipment and other		15			11
		336			186
Less: accumulated depreciation		(89	)		(77	)
Construction in progress (1)		-			86
Total	$	247		$	195

(1)

Goodwill and Intangible Assets, Net (Tables)

9 Months Ended

Sep. 30, 2015

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Changes in Goodwill

The following table summarizes our goodwill activity by segment for the period presented:

	Hotel			Other			Consolidated
	(in millions)
Beginning balance as of January 1, 2015	$	442		$	292		$	734
Acquisitions (1)		1			16			17
Disposition (1)		(1	)		-			(1	)
Other adjustments (2)		-			(15	)		(15	)
Ending balance as of September 30, 2015	$	442		$	293		$	735


(1)	Refer to “Note 3 – Acquisitions and Dispositions,” above for additional information.
(2)	Other adjustments are primarily related to impact of changes in foreign exchange rates.

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

Intangible assets, which were acquired in business combinations and recorded at fair value on the date of purchase, consist of the following for the periods presented:

	September 30, 2015			December 31, 2014
	(in millions)
Intangible assets with definite lives	$	199		$	202
Less: accumulated amortization		(43	)		(18	)
Intangible assets with definite lives, net		156			184
Intangible assets with indefinite lives		30			30
Total	$	186		$	214

Components of Intangible Assets with Definite Lives

The following table presents the components of our intangible assets with definite lives for the periods presented:

			September 30, 2015							December 31, 2014
	Weighted Average		Gross					Net		Gross					Net
	Remaining Life		Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	(in years)		Amount		Amortization			Amount		Amount		Amortization			Amount
			(in millions)							(in millions)
Trade names and trademarks		8.8	$	53	$	(8	)	$	45	$	52	$	(5	)	$	47
Customer lists and supplier relationships		5.5		82		(15	)		67		77		(5	)		72
Subscriber relationships		5.0		30		(8	)		22		31		(4	)		27
Technology and other		3.4		34		(12	)		22		42		(4	)		38
Total		6.1	$	199	$	(43	)	$	156	$	202	$	(18	)	$	184

Summary of Estimated Future Amortization Expense Related to Intangible Assets with Definite Lives

2015 (remaining three months)	$	10
2016		29
2017		28
2018		25
2019		22
2020 and thereafter		42
Total	$	156

Debt (Tables)

9 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

Debt

The Company’s outstanding debt consisted of the following for the periods presented:

	September 30,			December 31,
	2015			2014
	(in millions)
Short-Term Debt:
Chinese Credit Facilities	$	1		$	38
Term Loan		-			40
Total Short-Term Debt	$	1		$	78

Long-Term Debt:
2015 Credit Facility	$	290		$	-
Term Loan		-			260
Less: Unamortized discount and debt issuance costs		(3	)		(1	)
Total Long-Term Debt	$	287		$	259

Accrued Expenses and Other Current Liabilities (Tables)

9 Months Ended

Sep. 30, 2015

Payables And Accruals [Abstract]

Details of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following for the periods presented:

	September 30, 2015		December 31, 2014
	(in millions)
Accrued salary, bonus, and related benefits	$	47	$	41
Accrued marketing costs		36		24
Accrued charitable foundation payments		6		9
Other		40		40
Total	$	129	$	114

Other Long-Term Liabilities (Tables)

9 Months Ended

Sep. 30, 2015

Other Liabilities Noncurrent [Abstract]

Schedule of Other Long-Term Liabilities

Other long-term liabilities consisted of the following for the periods presented:

	September 30, 2015		December 31, 2014
	(in millions)
Unrecognized tax benefits (1)	$	85	$	68
Financing obligation, net of current portion (2)		83		67
Other (3)		19		19
Total	$	187	$	154

(1)	Amount includes accrued interest related to this liability.
(2)	Refer to “Note 12 – Commitments and Contingencies,” in the notes to our unaudited consolidated financial statements in this Quarterly Report on Form 10-Q for additional information on our corporate headquarters lease.
(3)	Amounts primarily consist of long term deferred rent balances related to operating leases for office space.

Segment Information (Tables)

9 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

Summary of Segment Information

The following tables present our segment information for the three and nine months ended September 30, 2015 and 2014.

	Three months ended September 30, 2015
	Hotel		Other		Corporate and unallocated			Total
	(in millions)
Revenue	$	340	$	75	$	—		$	415
Adjusted EBITDA (1)		121		9		—			130
Depreciation		—		—		(13	)		(13	)
Amortization of intangible assets		—		—		(10	)		(10	)
Stock-based compensation		—		—		(19	)		(19	)
Operating income (loss)	$	121	$	9	$	(42	)		88
Other income, net									10
Income before income taxes									98
Provision for income taxes									(24	)
Net income									74

	Three months ended September 30, 2014
	Hotel		Other		Corporate and unallocated			Total
	(in millions)
Revenue	$	315	$	39	$	—		$	354
Adjusted EBITDA (2)		118		1		—			119
Depreciation		—		—		(12	)		(12	)
Amortization of intangible assets		—		—		(6	)		(6	)
Stock-based compensation		—		—		(17	)		(17	)
Operating income (loss)	$	118	$	1	$	(35	)		84
Other expense, net									(9	)
Income before income taxes									75
Provision for income taxes									(21	)
Net income									54

	Nine months ended September 30, 2015
	Hotel		Other		Corporate and unallocated			Total
	(in millions)
Revenue	$	1,003	$	180	$	—		$	1,183
Adjusted EBITDA (1)		377		2		—			379
Depreciation		—		—		(42	)		(42	)
Amortization of intangible assets		—		—		(26	)		(26	)
Stock-based compensation		—		—		(52	)		(52	)
Other non-recurring expenses						(2	)		(2	)
Operating income (loss)	$	377	$	2	$	(122	)		257
Other income, net									8
Income before income taxes									265
Provision for income taxes									(70	)
Net income									195

	Nine months ended September 30, 2014
	Hotel		Other			Corporate and unallocated			Total
	(in millions)
Revenue	$	884	$	74		$	—		$	958
Adjusted EBITDA (2)		372		(2	)		—			370
Depreciation		—		—			(33	)		(33	)
Amortization of intangible assets		—		—			(11	)		(11	)
Stock-based compensation		—		—			(46	)		(46	)
Operating income (loss)	$	372	$	(2	)	$	(90	)		280
Other expense, net										(13	)
Income before income taxes										267
Provision for income taxes										(77	)
Net income										190

(1)	Includes allocated general and administrative expenses in our Hotel segment of $23 million and $69 million; and in our Other segment of $8 million and $23 million for the three and nine months ended September 30, 2015, respectively.
(2)	Includes allocated general and administrative expenses in our Hotel segment of $24 million and $65 million; and in our Other segment of $6 million and $12 million for the three and nine months ended September 30, 2014, respectively.

Reconciliation of Weighted Average Number of Shares of Common Stock Outstanding

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

	Three months ended				Nine months ended
	September 30,				September 30,
	2015		2014		2015		2014
Numerator:
Net income	$	74	$	54	$	195	$	190
Denominator:
Weighted average shares used to compute Basic EPS		144,133		142,842		143,662		142,648
Weighted average effect of dilutive securities:
Stock options		1,442		2,851		1,959		2,837
RSUs		253		378		265		354
Weighted average shares used to compute Diluted EPS		145,828		146,071		145,886		145,839
Basic EPS	$	0.51	$	0.38	$	1.35	$	1.33
Diluted EPS	$	0.51	$	0.37	$	1.34	$	1.30

Common Shares Related to Stock Options and RSUs Excluded from Calculated Diluted EPS

	Three months ended				Nine months ended
	September 30,				September 30,
	2015(1)		2014(2)		2015(1)		2014(2)
Stock options		2,110		599		2,119		1,325
RSUs		303		6		629		167
Total		2,413		605		2,748		1,492

(1)

(2)

Interest Income and Other, Net (Tables)

9 Months Ended

Sep. 30, 2015

Interest And Other Income [Abstract]

Summary of Interest Income and Other, Net

The following table presents the detail of interest income and other, net, for the periods presented:

	Three months ended						Nine months ended
	September 30,						September 30,
	2015			2014			2015			2014
	(in millions)						(in millions)
Net loss, realized and unrealized, on foreign exchange and foreign currency derivative contracts and other, net	$	(4	)	$	(7	)	$	(3	)	$	(8	)
Interest income		-			-			1			1
Gain on sale of business (1)		17			-			17			-
Total	$	13		$	(7	)	$	15		$	(7	)


(1)	Refer to “Note 3 – Acquisitions and Dispositions” in the notes to our unaudited consolidated financial statements in this Quarterly Report on Form 10-Q for additional information.

Business Description and Basis of Presentation - Additional Information (Details)	9 Months Ended
	Sep. 30, 2015 Segment Brand Country
Description Of Business And Basis Of Presentation [Line Items]
Number of countries with localized versions of website	46
Number of other media brands with websites	23
Number of reportable segment	2
Other Segment
Description Of Business And Basis Of Presentation [Line Items]
Number of operating segments	3

Significant Accounting Policies - Additional Information (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Increase (decrease) in other long-term assets	$ (1)
Increase (decrease) in long-term debt	$ (1)

Acquisitions and Dispositions - Additional Information (Details) (USD $)
In Millions, unless otherwise specified

3 Months Ended

9 Months Ended

Sep. 30, 2015

Aug. 31, 2015

Disposal group, gain on sale of subsidiary

$ 17

^[1]

$ 17

^[1]

One of Chinese Subsidiaries

Disposal group, percentage of ownership interest sold

100.00%

Disposal group, total consideration

Cash held back by the purchaser

Disposal group, deconsolidated assets on sale of business

Disposal group, cash included in deconsolidated asset

Disposal group, deconsolidated liabilities on sale of business

Disposal group, gain on sale of subsidiary

Series of Individually Immaterial Business Acquisitions

Number of business acquired

Total purchase price consideration

Acquisition-related costs

$ 1

ZeTrip

Business acquisition percentage of outstanding shares of capital stock

100.00%

Date of acquisition

Jan. 31, 2015

BestTables

Business acquisition percentage of outstanding shares of capital stock

100.00%

Date of acquisition

Mar. 31, 2015

Dimmi

Business acquisition percentage of outstanding shares of capital stock

100.00%

Date of acquisition

May 31, 2015

[1]	Refer to “Note 3 – Acquisitions and Dispositions” in the notes to our unaudited consolidated financial statements in this Quarterly Report on Form 10-Q for additional information.

Acquisitions and Dispositions - Summary of Purchase Price Allocation Initially Recorded on Unaudited Consolidated Balance Sheet for all Acquisitions (Details) (USD $)
In Millions, unless otherwise specified

Sep. 30, 2015

Dec. 31, 2014

Goodwill

$ 735

$ 734

Series of Individually Immaterial Business Acquisitions

Net tangible assets (liabilities)

Goodwill

Intangible assets

^[1]

Deferred tax liabilities, net

(2)

Total purchase price consideration

$ 28

^[2]

[1]

[2]

Acquisitions and Dispositions - Summary of Purchase Price Allocation Initially Recorded on Unaudited Consolidated Balance Sheet for all Acquisitions (Parenthetical) (Details) (Series of Individually Immaterial Business Acquisitions, USD $)
In Millions, unless otherwise specified

9 Months Ended

Sep. 30, 2015

Weighted average life of identifiable definite-lived intangible assets acquired

$ 12

^[1]

6 years

Trade Names

Weighted average life of identifiable definite-lived intangible assets acquired

9 years 10 months 24 days

Customer Lists and Supplier Relationships

Weighted average life of identifiable definite-lived intangible assets acquired

5 years 10 months 24 days

Developed Technology and Other

Weighted average life of identifiable definite-lived intangible assets acquired

$ 3

2 years 6 months

[1]

Stock Based Awards and Other Equity Instruments - Amount of Stock-Based Compensation Expense Related to Stock-Based Awards, Primarily Stock Options and Restricted Stock Units (RSUs) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 19	$ 17	$ 52	$ 46
Income tax benefit from stock-based compensation expense	(7)	(6)	(19)	(17)
Total stock-based compensation expense, net of tax effect	12	11	33	29
Selling and Marketing
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	4	4	12	10
Technology and Content
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	8	7	20	19
General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 7	$ 6	$ 20	$ 17

Stock Based Awards and Other Equity Instruments - Additional Information (Details) (USD $) In Millions, except Share data, unless otherwise specified	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of stock options issued	396,000
Total intrinsic value	$ 128	$ 71
Total fair value of stock options vested	$ 30	$ 27
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Closing stock price	$ 63.02
Weighted-average grant date fair value of options granted	$ 33.24	$ 47.03
Stock Options \| 2011 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of stock options issued	395,613
Term of stock options, granted	10 years
Stock options vest period	4 years
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSU's issued under incentive plan	708,000
Restricted Stock Units \| 2011 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options vest period	4 years
RSU's issued under incentive plan	707,608

Stock Based Awards and Other Equity Instruments - Summary of Stock Option (Details) (USD $)
In Millions, except Share data in Thousands, unless otherwise specified

9 Months Ended

Sep. 30, 2015

Options Outstanding

Options Outstanding, Beginning balance

8,651

Options Outstanding, Granted

396

Options Outstanding, Exercised

(2,759)

^[1]

Options Outstanding, Cancelled or expired

(243)

Options Outstanding, Ending balance

6,045

Options Outstanding, Exercisable

2,593

Options Outstanding, Vested and expected to vest

5,931

Weighted Average Exercise Price per share

Options Outstanding, Weighted Average Exercise Price, Beginning Balance

$ 44.47

Options Granted, Weighted Average Exercise Price

$ 85.70

Options Exercised, Weighted Average Exercise Price

$ 33.78

^[1]

Options Cancelled or expired, Weighted Average Exercise Price

$ 52.73

Options Outstanding, Weighted Average Exercise Price, Ending balance

$ 51.72

Options Exercisable, Weighted Average Exercise Price

$ 35.97

Options Vested and expected to vest, Weighted Average Exercise Price

$ 51.34

Weighted Average Remaining Contractual Life and Aggregate Intrinsic Value

Options Outstanding, Weighted Average Remaining Contractual Life

5 years 9 months 18 days

Options Exercisable, Weighted Average Remaining Contractual Life

4 years 10 months 24 days

Options Vested and expected to vest, Weighted Average Remaining Contractual Life

5 years 9 months 18 days

Options Outstanding, Aggregate Intrinsic Value

$ 106

Options Exercisable, Aggregate Intrinsic Value

Options Vested and expected to vest, Aggregate Intrinsic Value

$ 105

[1]

Stock Based Awards and Other Equity Instruments - Weighted-Average Assumptions of Estimated Fair Value of Stock Option Grants (Details) (2011 Plan)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
2011 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk free interest rate	1.67%	1.76%	1.52%	1.93%
Expected term (in years)	5 years 2 months 27 days	5 years 9 months 7 days	5 years 2 months 16 days	6 years 3 months 7 days
Expected volatility	40.24%	46.09%	41.76%	47.70%

Stock Based Awards and Other Equity Instruments - Summary of RSU Activity (Details) (Restricted Stock Units, USD $)
In Millions, except Share data, unless otherwise specified

9 Months Ended

Sep. 30, 2015

Restricted Stock Units

RSUs outstanding

Unvested RSUs outstanding, Beginning balance

1,448,000

Unvested RSUs, Granted

708,000

Unvested RSUs, Vested and released

(368,000)

^[1]

Unvested RSUs, Cancelled

(214,000)

Unvested RSUs outstanding, Ending balance

1,574,000

Weighted Average Grant-Date Fair Value Per Share

Unvested RSUs outstanding, Weighted Average Grant-Date Fair Value Per Share, Beginning balance

$ 71.33

Weighted Average Grant-Date Fair Value Per Share, Granted

$ 84.00

Weighted Average Grant-Date Fair Value Per Share, Vested and released

$ 66.11

^[1]

Weighted Average Grant-Date Fair Value Per Share, Cancelled

$ 72.58

Unvested RSUs outstanding, Weighted Average Grant-Date Fair Value Per Share, Ending balance

$ 78.06

Aggregate Intrinsic Value

Unvested RSUs outstanding, Aggregate Intrinsic Value

$ 99

[1]

Stock Based Awards and Other Equity Instruments - Summary of Unrecognized Stock-Based Compensation Expense, Net of Estimated Forfeitures and Weighted Average Period Remaining (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2015
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense (net of forfeitures), Stock Options	$ 63
Period of recognition (in years)	2 years 4 months 24 days
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Period of recognition (in years)	2 years 9 months 18 days
Unrecognized stock-based compensation expense (net of forfeitures), RSUs	$ 87

Financial Instruments - Schedule of Cash, Cash Equivalents and Marketable Securities (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 567	$ 455	$ 491	$ 351
Short-Term Marketable Securities	119	108
Long-Term Marketable Securities	44	31
Cash	506	447
Cash, cash equivalents and marketable securities, Amortized Cost	730	594
Cash, cash equivalents and marketable securities, Fair Value	730	594
Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	60	8
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	164	139
Fair Value	164	139
Cash and cash equivalents	1
Short-Term Marketable Securities	119	108
Long-Term Marketable Securities	44	31
Level 2 \| U.S. Agency Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	13	38
Fair Value	13	38
Short-Term Marketable Securities	11	35
Long-Term Marketable Securities	2	3
Level 2 \| US treasury securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	42
Fair Value	42
Short-Term Marketable Securities	42
Level 2 \| Certificates of Deposit
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	10	8
Fair Value	10	8
Short-Term Marketable Securities	6	8
Long-Term Marketable Securities	4
Level 2 \| Commercial Paper
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	5	1
Fair Value	5	1
Cash and cash equivalents	1
Short-Term Marketable Securities	4	1
Level 2 \| Corporate Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amortized Cost	94	92
Fair Value	94	92
Short-Term Marketable Securities	56	64
Long-Term Marketable Securities	$ 38	$ 28

Financial Instruments - Additional Information (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Investments Debt And Equity Securities [Abstract]
Financial instruments including money market funds maturities period		90 days
Maximum maturities period of long-term marketable securities		3 years
Minimum maturities period of long-term marketable securities		1 year
Maximum maturities period of short-term marketable securities		12 months
Minimum maturities period of short-term marketable securities		90 days
Net gain related to forward contracts	$ 1	$ 1
Derivative Instruments Not Designated as Hedging Instruments, Description of Terms		Our current forward contracts are not designated as hedges and have current maturities of less than 90 days

Financial Instruments - Fair Value and Notional Principal Amounts of Outstanding or Unsettled Derivative Instruments (Details) (Not Designated as Hedging Instrument, Foreign Exchange-forward Contracts, USD $)

Sep. 30, 2015

Dec. 31, 2014

Not Designated as Hedging Instrument | Foreign Exchange-forward Contracts

Derivatives Fair Value [Line Items]

Foreign exchange-forward contracts

$ 38,000,000

^[1],[2]

$ 20,000,000

^[1],[2]

[1]	Derivative contracts address foreign exchange fluctuations for the Euro versus the U.S. Dollar.
[2]	The fair value of our derivative instruments are not material as of September 30, 2015 and December 31, 2014. We measure the fair value of our outstanding or unsettled derivatives using Level 2 fair value inputs, as we use a pricing model that takes into account the contract terms as well as current foreign currency exchange rates in active markets.

Property and Equipment, Net - Components of Property and Equipment (Details) (USD $)
In Millions, unless otherwise specified

Sep. 30, 2015

Dec. 31, 2014

Less: accumulated depreciation

$ 336

$ 186

(89)

(77)

Construction in progress

^[1]

Total

247

195

Capitalized Software and Website Development

128

104

Building

123

^[1]

Leasehold Improvements

Computer Equipment

Furniture, Office Equipment and Other

$ 15

$ 11

[1]

Property and Equipment, Net - Components of Property and Equipment (Parenthetical) (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2015
Other Long-Term Liabilities
Property Plant And Equipment [Line Items]
Capitalization of construction in-process related to build to suit lease obligation	$ 6
Building
Property Plant And Equipment [Line Items]
Property Plant And Equipment Useful Life	40 years

Goodwill and Intangible Assets, Net - Summary of Changes in Goodwill (Details) (USD $)
In Millions, unless otherwise specified

9 Months Ended

Sep. 30, 2015

Goodwill [Line Items]

Beginning balance

$ 734

Acquisitions

^[1]

Disposition

(1)

^[1]

Other adjustments

(15)

^[2]

Ending balance

735

Hotel Segment

Goodwill [Line Items]

Beginning balance

442

Acquisitions

^[1]

Disposition

(1)

^[1]

Other adjustments

^[2]

Ending balance

442

Other Segment

Goodwill [Line Items]

Beginning balance

292

Acquisitions

^[1]

Other adjustments

(15)

^[2]

Ending balance

$ 293

[1]	Refer to “Note 3 – Acquisitions and Dispositions,” above for additional information.
[2]	Other adjustments are primarily related to impact of changes in foreign exchange rates.

Goodwill and Intangible Assets, Net - Summary of Intangible Assets Acquired in Business Combinations (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2015	Dec. 31, 2014
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible assets with definite lives	$ 199	$ 202
Less: accumulated amortization	(43)	(18)
Intangible assets with definite lives, net	156	184
Intangible assets with indefinite lives	30	30
Total	$ 186	$ 214

Goodwill and Intangible Assets, Net - Components of Intangible Assets with Definite Lives (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	6 years 1 month 6 days
Gross Carrying Amount	$ 199	$ 202
Less: accumulated amortization	(43)	(18)
Intangible assets with definite lives, net	156	184
Trade Names and Trademarks
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	8 years 9 months 18 days
Gross Carrying Amount	53	52
Less: accumulated amortization	(8)	(5)
Intangible assets with definite lives, net	45	47
Customer Lists and Supplier Relationships
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	5 years 6 months
Gross Carrying Amount	82	77
Less: accumulated amortization	(15)	(5)
Intangible assets with definite lives, net	67	72
Subscriber Relationships
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	5 years
Gross Carrying Amount	30	31
Less: accumulated amortization	(8)	(4)
Intangible assets with definite lives, net	22	27
Technology and Other
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	3 years 4 months 24 days
Gross Carrying Amount	34	42
Less: accumulated amortization	(12)	(4)
Intangible assets with definite lives, net	$ 22	$ 38

Goodwill and Intangible Assets, Net - Summary of Estimated Future Amortization Expense Related to Intangible Assets with Definite Lives (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2015	Dec. 31, 2014
Goodwill And Intangible Assets Disclosure [Abstract]
2015 (remaining three months)	$ 10
2016	29
2017	28
2018	25
2019	22
2020 and thereafter	42
Intangible assets with definite lives, net	$ 156	$ 184

Debt - Summary of Total Outstanding Borrowings (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2015	Dec. 31, 2014
Short-Term Debt:
Short-Term Debt	$ 1	$ 78
Long-Term Debt:
Long-Term Debt	287	259
Less: Unamortized discount and debt issuance costs	(3)	(1)
Chinese Credit Facilities
Short-Term Debt:
Chinese Credit Facilities	1	38
Term Loan
Short-Term Debt:
Short-Term Debt		40
Long-Term Debt:
Long-Term Debt		260
2015 Credit Facility
Long-Term Debt:
2015 Credit Facility	$ 290

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References+ Details

The carrying value as of the balance sheet date of the noncurrent portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References+ Details

Debt - Two Thousand Eleven Credit Facility - Additional Information (Details) (USD $)	3 Months Ended		9 Months Ended		0 Months Ended	9 Months Ended	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Jun. 26, 2015 Term Loan	Sep. 30, 2015 Term Loan	Sep. 30, 2014 2011 Credit Facility	Sep. 30, 2015 2011 Credit Facility	Sep. 30, 2014 2011 Credit Facility	Sep. 30, 2015 2011 Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing limits								$ 600,000,000
Term Loan Facility, principal amount						400,000,000
Period of Term Loan Facility						5 years
Borrowings, maturity date						Dec. 31, 2016
Borrowing capacity under Credit Facility										200,000,000
Credit facility, expiration period										5 years
Credit facility, maturity date										Dec. 31, 2016
Principal amount repaid					290,000,000
Gains (losses) on extinguishment of debt						0
Total interest and commitments fees	$ 3,000,000	$ 2,000,000	$ 7,000,000	$ 6,000,000			$ 1,000,000	$ 3,000,000	$ 5,000,000

Debt - Two Thousand Fifteen Credit Facility - Additional Information (Details) (USD $)	3 Months Ended		9 Months Ended		3 Months Ended	9 Months Ended			9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015 2015 Credit Facility	Sep. 30, 2015 2015 Credit Facility	Sep. 30, 2015 2015 Credit Facility Revolving Credit Facility	Jun. 26, 2015 2015 Credit Facility Revolving Credit Facility	Sep. 30, 2015 2015 Credit Facility Revolving Credit Facility London Interbank Offered Rate (LIBOR)	Sep. 30, 2015 2015 Credit Facility Revolving Credit Facility Euro	Sep. 30, 2015 2015 Credit Facility Revolving Credit Facility US Dollars	Sep. 30, 2015 2015 Credit Facility Term Loan And Revolving Credit Facility	Sep. 30, 2015 2015 Credit Facility Letter of Credit	Sep. 30, 2015 2015 Credit Facility Borrowings On Same Day Notice
Debt Instrument [Line Items]
Borrowing capacity under Credit Facility								$ 1,000,000,000					$ 15,000,000	$ 40,000,000
Interest rate description							Any overdue amounts under or in respect of the revolving credit facility not paid when due shall bear interest at (i) in the case of principal, the applicable interest rate plus 2.00% per annum, (ii) in the case of interest denominated in Sterling or Euro, the applicable rate plus 2.00% per annum and (ii) in the case of interest denominated in US Dollars, 2.00% per annum plus the Alternate Base Rate plus the interest rate spread applicable to ABR loans
Basis spread on variable rate							2.00%		1.25%	2.00%	2.00%
Credit facility, maturity date							Jun. 26, 2020
Credit facility, expiration period							5 years
Amount borrowed			287,000,000				290,000,000
Borrowings, interest rate description									borrowings bear interest at LIBOR plus 125 basis points
Borrowings, interest rate basis									1.50%
Line Of Credit Facility Unused Capacity Commitment Fee Percentage												20.00%
Letters of credit outstanding amount													2,000,000
Total interest and commitments fees	3,000,000	2,000,000	7,000,000	6,000,000	1,000,000	1,000,000
Lender fees and debt financing costs							$ 3,000,000

Debt - Chinese Credit Facilities - Additional Information (Details) (Chinese Credit Facilities)	9 Months Ended			3 Months Ended	9 Months Ended		3 Months Ended	9 Months Ended
	Sep. 30, 2015 USD ($)	Sep. 30, 2014 USD ($)	Dec. 31, 2014 USD ($)	Jun. 30, 2015 Chinese Credit Facility Boa USD ($)	Sep. 30, 2015 Chinese Credit Facility Boa USD ($)	Sep. 30, 2015 Chinese Credit Facility Boa CNY	Jun. 30, 2015 Chinese Credit Facility Jpm USD ($)	Sep. 30, 2015 Chinese Credit Facility Jpm USD ($)	Sep. 30, 2015 Chinese Credit Facility Jpm CNY
Debt Instrument [Line Items]
Outstanding borrowings	$ 1,000,000		$ 38,000,000		$ 1,000,000			$ 0
Borrowing capacity under Credit Facility					30,000,000	189,000,000		20,000,000	125,000,000
Period of credit facility					1 year	1 year		1 year	1 year
Line of credit rate basis					100.00%	100.00%		100.00%	100.00%
Line of credit, interest rate basis					4.60%	4.60%		4.60%	4.60%
Interest rate description					Chinese Credit Facility—BOA currently bears interest at a rate based on 100% of the People’s Bank of China’s base rate, which was 4.60% as of September 30, 2015	Chinese Credit Facility—BOA currently bears interest at a rate based on 100% of the People’s Bank of China’s base rate, which was 4.60% as of September 30, 2015		Chinese Credit Facility—JPM currently also bears interest at a rate based on 100% of the People’s Bank of China’s base rate, which was 4.60% as of September 30, 2015	Chinese Credit Facility—JPM currently also bears interest at a rate based on 100% of the People’s Bank of China’s base rate, which was 4.60% as of September 30, 2015
Repayments of outstanding borrowings	$ 41,000,000	$ 3,000,000		$ 22,000,000			$ 19,000,000

+ References+ Details

Income Taxes - Additional Information (Details) (USD $)	3 Months Ended		9 Months Ended
Income Taxes - Additional Information (Details) (USD $)	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Effective tax rate	24.50%	28.00%	26.40%	28.80%
Accrued interest	$ 4,000,000		$ 4,000,000
Accrued penalties	$ 0		$ 0

Accrued Expenses and Other Current Liabilities - Details of Accrued Expenses and Other Current Liabilities (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2015	Dec. 31, 2014
Payables And Accruals [Abstract]
Accrued salary, bonus, and related benefits	$ 47	$ 41
Accrued marketing costs	36	24
Accrued charitable foundation payments	6	9
Other	40	40
Total	$ 129	$ 114

Other Liabilities Noncurrent [Abstract]

Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References+ Details

Other Long-Term Liabilities - Schedule of Other Long-Term Liabilities (Details) (USD $)
In Millions, unless otherwise specified

Sep. 30, 2015

Dec. 31, 2014

Unrecognized tax benefits

$ 85

^[1]

$ 68

^[1]

Financing obligation, net of current portion

^[2]

Other

^[3]

Total other long term liabilities

$ 187

$ 154

[1]	Amount includes accrued interest related to this liability.
[2]	Refer to “Note 12 – Commitments and Contingencies,” in the notes to our unaudited consolidated financial statements in this Quarterly Report on Form 10-Q for additional information on our corporate headquarters lease.
[3]	Amounts primarily consist of long term deferred rent balances related to operating leases for office space.

Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid more than one year (or one operating cycle, if longer) after the balance sheet date.

+ References+ Details

Commitments and Contingencies - Additional Information (Details) (USD $) In Millions, unless otherwise specified	1 Months Ended	9 Months Ended
	Jun. 30, 2013	Sep. 30, 2015
Commitment And Contingencies [Line Items]
Leased area	280,000
Criteria percentage of damages claims		10.00%
New Corporate Headquarters
Commitment And Contingencies [Line Items]
Lease expiration date	Dec. 01, 2030
Initial term of Lease	15 years 7 months
Initial base rent	33.00
Increase in base rent	34.50
Extended Lease Term	5 years
Aggregate future minimum lease payments, total		$ 143
Aggregate future minimum lease payments in 2015		1
Aggregate future minimum lease payments in 2016		9
Aggregate future minimum lease payments in 2017		9
Aggregate future minimum lease payments in 2018		9
Aggregate future minimum lease payments in 2019		9
Aggregate future minimum lease payments in 2020 and thereafter		106
Security Deposits		$ 1

Segment Information - Additional Information (Details)	9 Months Ended
Segment Information - Additional Information (Details)	Sep. 30, 2015 Segment
Segment Reporting Information [Line Items]
Number of reportable segment	2
Other Segment
Segment Reporting Information [Line Items]
Number of operating segments	3

Segment Information - Summary of Segment Information (Details) (USD $)
In Millions, unless otherwise specified

3 Months Ended

9 Months Ended

Sep. 30, 2015

Sep. 30, 2014

Sep. 30, 2015

Sep. 30, 2014

$ 415

$ 354

$ 1,183

$ 958

Adjusted EBITDA

130

^[1]

119

^[2]

379

^[1]

370

^[2]

Depreciation

(13)

(12)

(42)

(33)

Other non-recurring expenses

(10)

(6)

(26)

(11)

Stock-based compensation

(19)

(17)

(52)

(46)

(2)

Other income (expense), net

257

280

(9)

(13)

Income before income taxes

265

267

Provision for income taxes

(24)

(21)

(70)

(77)

195

190

Operating Segments | Hotel

340

315

1,003

884

Adjusted EBITDA

121

^[1]

118

^[2]

377

^[1]

372

^[2]

121

118

377

372

Operating Segments | Other Segment

180

Adjusted EBITDA

^[1]

^[2]

^[1]

(2)

^[2]

(2)

Corporate and Unallocated

Depreciation

(13)

(12)

(42)

(33)

Other non-recurring expenses

(10)

(6)

(26)

(11)

Stock-based compensation

(19)

(17)

(52)

(46)

(2)

$ (42)

$ (35)

$ (122)

$ (90)

[1]	Includes allocated general and administrative expenses in our Hotel segment of $23 million and $69 million; and in our Other segment of $8 million and $23 million for the three and nine months ended September 30, 2015, respectively.
[2]	Includes allocated general and administrative expenses in our Hotel segment of $24 million and $65 million; and in our Other segment of $6 million and $12 million for the three and nine months ended September 30, 2014, respectively.

Segment Information - Summary of Segment Information (Parenthetical) (Details) (USD $)
In Millions, unless otherwise specified

3 Months Ended

9 Months Ended

Sep. 30, 2015

Sep. 30, 2014

Sep. 30, 2015

Sep. 30, 2014

General and administrative expenses

$ 37

^[1]

$ 36

^[1]

$ 114

^[1]

$ 94

^[1]

Operating Segments | Hotel Segment

General and administrative expenses

Operating Segments | Other Segment

General and administrative expenses

$ 8

$ 6

$ 23

$ 12

[1]	Includes stock-based compensation expense as follows:

Earnings Per Share - Reconciliation of Weighted Average Number of Shares of Common Stock Outstanding In Calculating EPS (Details) (USD $) In Millions, except Share data in Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Numerator:
Net income	$ 74	$ 54	$ 195	$ 190
Denominator:
Weighted average shares used to compute Basic EPS	144,133	142,842	143,662	142,648
Weighted average effect of dilutive securities:
Stock options	1,442	2,851	1,959	2,837
RSUs	253	378	265	354
Weighted average shares used to compute Diluted EPS	145,828	146,071	145,886	145,839
Basic EPS	$ 0.51	$ 0.38	$ 1.35	$ 1.33
Diluted EPS	$ 0.51	$ 0.37	$ 1.34	$ 1.30

Earnings Per Share - Common Shares Related to Stock Options and RSUs Excluded from Calculated Diluted EPS (Details)

3 Months Ended

9 Months Ended

Sep. 30, 2015

Sep. 30, 2014

Sep. 30, 2015

Sep. 30, 2014

Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]

Antidilutive securities excluded from computation of earnings per share, amount

2,413,000

^[1]

605,000

^[2]

2,748,000

^[1]

1,492,000

^[2]

Stock Options

Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]

Antidilutive securities excluded from computation of earnings per share, amount

2,110,000

^[1]

599,000

^[2]

2,119,000

^[1]

1,325,000

^[2]

Restricted Stock Units

Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]

Antidilutive securities excluded from computation of earnings per share, amount

303,000

^[1]

6,000

^[2]

629,000

^[1]

167,000

^[2]

[1]	These totals do not include 66,666 performance based options and 12,799 performance based RSUs representing the right to acquire 79,465 shares of common stock for which all targets required to trigger vesting have not been achieved; therefore, such awards were excluded from the calculation of weighted average shares used to compute Diluted EPS for those reporting periods.
[2]	These totals do not include 66,666 performance based options and 44,000 performance based RSUs representing the right to acquire 110,666 shares of common stock for which all targets required to trigger vesting have not been achieved; therefore, such awards were excluded from the calculation of weighted average shares used to compute Diluted EPS for those reporting periods.

Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References+ Details

Earnings Per Share - Common Shares Related to Stock Options and RSUs Excluded from Calculated Diluted EPS (Parenthetical) (Details)

3 Months Ended

9 Months Ended

Sep. 30, 2015

Sep. 30, 2014

Sep. 30, 2015

Sep. 30, 2014

Antidilutive securities excluded from computation of earnings per share, amount

2,413,000

^[1]

605,000

^[2]

2,748,000

^[1]

1,492,000

^[2]

Stock Options

Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]

Antidilutive securities excluded from computation of earnings per share, amount

2,110,000

^[1]

599,000

^[2]

2,119,000

^[1]

1,325,000

^[2]

Restricted Stock Units

Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]

Antidilutive securities excluded from computation of earnings per share, amount

303,000

^[1]

6,000

^[2]

629,000

^[1]

167,000

^[2]

Performance Shares

Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]

Antidilutive securities excluded from computation of earnings per share, amount

79,465

110,666

Performance Shares | Stock Options

Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]

Antidilutive securities excluded from computation of earnings per share, amount

66,666

Performance Shares | Restricted Stock Units

Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]

Antidilutive securities excluded from computation of earnings per share, amount

12,799

44,000

[1]	These totals do not include 66,666 performance based options and 12,799 performance based RSUs representing the right to acquire 79,465 shares of common stock for which all targets required to trigger vesting have not been achieved; therefore, such awards were excluded from the calculation of weighted average shares used to compute Diluted EPS for those reporting periods.
[2]	These totals do not include 66,666 performance based options and 44,000 performance based RSUs representing the right to acquire 110,666 shares of common stock for which all targets required to trigger vesting have not been achieved; therefore, such awards were excluded from the calculation of weighted average shares used to compute Diluted EPS for those reporting periods.