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SEC Filings

20-F
TRIVAGO N.V. filed this Form 20-F on 03/06/2018
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B options (in terms of Class A equivalents options) were subject to liability accounting. As of December, 31, 2016 and 2017, no option awards are subject to liability accounting.
The total intrinsic value of share options exercised was €3.0 million and €14.9 million for the year ended December 31, 2016 and December 31, 2017, respectively.
During the three years ended December 31, 2015, 2016 and 2017, we awarded share options as our only form of share-based compensation. The fair value of share options granted during the years ended December 31, 2015, 2016 and 2017 were estimated at the date of grant using the Black-Scholes option-pricing model, assuming the following weighted average assumptions:

 
Year ended December 31,

 
2015

 
2016

 
2017

Risk-free interest rate
 
1.31
%
 
1.31
%
 
2.18
%
Expected volatility
 
46
%
 
46
%
 
41
%
Expected life (in years)
 
1.82

 
2.68

 
4.62

Dividend yield
 
%
 
%
 
%
Weighted-average estimated fair value of options granted during the year
 
29,496

 
34,425

 
4

In 2015, 2016 and 2017, we recognized total share-based compensation expense of €14.1 million, €53.7 million and €16.0 million, respectively. There was no income tax benefit related to share-based compensation expense for 2015, 2016 and 2017. Additionally, €103 thousand, €318 thousand and €85 thousand of share-based compensation cost was capitalized in 2015, 2016 and 2017, respectively, as part of software development costs.
Cash received from share-based award exercises for the years ended December 31, 2015, 2016 and 2017 was €10 thousand, €686 thousand and €42 thousand, respectively.
As of December 31, 2017, there was approximately €35.1 million in unrecognized share-based compensation expense related to unvested share-based awards subject to equity treatment, which is expected to be recognized in expense over the weighted average period of 2.5 years.

11.Income taxes
The following table summarizes our income tax expense/(benefit):

 
Year ended December 31,
(in thousands)
 
2015

 
2016

 
2017

Current income tax expense (benefit):
 

 

 

Germany
 
(1,032
)
 
11,405

 
323

Other countries
 
158

 
103

 
112

Current income tax expense (benefit)
 
(874
)
 
11,508

 
435

Deferred income tax (benefit) expense:
 

 

 

Germany
 
(10,444
)
 
(4,838
)
 
(4,851
)
Other countries
 

 

 
(348
)
Deferred income tax (benefit) expense
 
(10,444
)
 
(4,838
)
 
(5,199
)
Income tax expense (benefit)
 
(11,318
)
 
6,670

 
(4,764
)

F-27