Avid 2005 Annual Report Download - page 88

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74
Consumer Video:
Net revenues $59,097 – –
Depreciation 465 – –
Operating income 3,344 – –
Assets at December 31, 40,574 – –
Capital expenditures 240 – –
Combined Segments:
Net revenues $775,443 $589,605 $471,912
Depreciation 16,798 12,031 10,903
Operating income 94,678 75,404 44,075
Assets at December 31, 308,038 208,128 146,660
Capital expenditures 17,766 15,177 7,951
Certain expenses related to restructurings and acquisitions are not included in the operating results of the reportable segments
because management does not consider them in evaluating operating results of the segments. The following table reconciles
operating income for reportable segments to total consolidated amounts for the years ended December 31, 2005, 2004 and 2003
(in thousands):
2005 2004 2003
Total operating income for reportable segments $94,678 $75,404 $44,075
Unallocated amounts:
Restructuring and other costs, net (3,155) – (3,194)
Stock-based compensation (2,163) (1,418) –
In-process research and development (32,390) – –
Amortization of acquisition-related intangible assets (20,221) (4,049) (1,316)
Impairment of intangible assets – (1,187) –
Consolidated operating income $36,749 $68,750 $39,565
Certain assets including cash and marketable securities and acquisition-related intangible assets are not included in the assets
of the reportable segment because management does not consider them in evaluating operating results of the segments. The
following table reconciles assets for reportable segments to total consolidated amounts as of December 31, 2005, 2004 and 2003
(in thousands):
2005 2004 2003
Total assets for reportable segments $308,038 $208,128 $146,660
Unallocated amounts:
Cash, cash equivalents and marketable securities 238,430 155,419 196,309
Acquisition-related intangible assets 515,578 212,687 5,150
Total assets $1,062,046 $576,234 $348,119
The following table summarizes the Company’s revenues by country (in thousands). The categorization of revenue is based on the
country in which the sales originate:
For the Year Ended December 31,
2005 2004 2003
Revenues:
United States $332,520 $287,182 $238,340
Other countries 442,923 302,423 233,572
Total revenues $775,443 $589,605 $471,912