Liberty TripAdvisor Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Recent Accounting Pronouncements (Tables)

Recent Accounting Pronouncements (Tables)

6 Months Ended

Jun. 30, 2018

Revenue, Initial Application Period Cumulative Effect Transition [Line Items]


	Three months ended		Six months ended
	June 30,		June 30,
	2018		2018
Major products/revenue sources:	(in millions)
Click-based advertising and transaction revenue	$	199	389
Display-based advertising and subscription revenue		80	150
Other hotel revenue		34	73
Total Hotel Revenue (1)		313	612

Non-Hotel Revenue (1)		120	199
Total Revenue	$	433	811

(1)

TripAdvisor’s revenue is recognized primarily at a point in time for both Hotel and Non-Hotel revenue.

Schedule of contract balances

The following table provides information about the opening and closing balances of accounts receivables and contract assets from contracts with customers (in millions):


	June 30,		December 31,
	2018		2017
Accounts receivable	$	285	230
Contract assets		15	—
Total	$	300	230

ASU 2014-09

Revenue, Initial Application Period Cumulative Effect Transition [Line Items]

Schedule of impact of adoption of ASC 606


	As Reported - ASC 606				Adjusted - ASC 605
	Three months ended		Impact of Accounting		Three months ended
	June 30, 2018		under ASC 606		June 30, 2018
	(in millions)
Revenue	$	433	$	(2)	$	431
Operating income		34		(2)		32
Earnings (loss) before income taxes		(14)		(2)		(16)
Income tax (expense) benefit		(8)		-		(8)
Net earnings (loss)		(22)		(2)		(24)


	As Reported - ASC 606				Adjusted - ASC 605
	Six months ended		Impact of Accounting		Six months ended
	June 30, 2018		under ASC 606		June 30, 2018
	(in millions)
Revenue	$	811	$	(6)	$	805
Operating income		43		(6)		37
Earnings (loss) before income taxes		(33)		(6)		(39)
Income tax (expense) benefit		(24)		1		(23)
Net earnings (loss)		(57)		(5)		(62)