Citrix 2005 Annual Report Download - page 65

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Page฀63
International฀revenues฀(sales฀outside฀of฀the฀United฀States)฀accounted฀for฀approximately฀50.0%,฀53.2%฀and฀54.6%฀of฀the฀Company’s฀
net฀revenues฀for฀the฀year฀ended฀December฀31,฀2005,฀2004฀and฀2003,฀respectively.฀Net฀revenues฀and฀segment฀ profit฀for฀2005,฀
2004฀and฀2003฀classified฀by฀the฀Company’s฀reportable฀segments,฀are฀presented฀below.
(In฀thousands) ฀2005 ฀2004 2003
Net฀revenues:
฀ Americas(1) $฀397,233 $฀335,436 $฀291,470
฀ EMEA(2) 334,900 293,690 243,890
฀ Asia-Pacific 77,492 67,930 53,265
฀ Online฀Services฀division 99,097 44,101 —
฀ Consolidated $฀908,722 $฀741,157 $฀588,625
Segment฀profit฀(loss):
฀ Americas $฀208,946 $฀199,332 $฀158,781
฀ EMEA 201,712 174,277 151,557
฀ Asia-Pacific 22,295 19,587 18,364
฀ Online฀Services฀division 19,641 (1,124) —
฀ Unallocated฀expenses(3):
฀ ฀ Amortization฀of฀intangibles (28,388) (12,331) (11,336)
฀ ฀ In-process฀research฀and฀development (7,000) (19,100) —
฀ ฀ Research฀and฀development (97,292) (81,483) (64,443)
฀ ฀ Net฀interest฀and฀other฀income 21,017 5,442 6,298
฀ ฀ Other฀corporate฀expenses (115,423) (120,167) (98,534)
฀ ฀ Consolidated฀income฀before฀income฀taxes $฀225,508 $฀164,433 $฀160,687
(1)฀ The฀Americas฀segment฀is฀comprised฀of฀the฀United฀States,฀Canada฀and฀Latin฀America.
(2)฀ Defined฀as฀Europe,฀the฀Middle฀East฀and฀Africa.
(3)฀ Represents฀expenses฀presented฀to฀management฀only฀on฀a฀consolidated฀basis฀and฀not฀allocated฀to฀the฀geographic฀operating฀segments.
Identifiable฀assets฀classified฀by฀the฀Company’s฀reportable฀segments฀are฀shown฀below.฀Long-lived฀assets฀consist฀of฀property฀and฀
equipment,฀net:
December฀31,
(In฀thousands) 2005 2004
Identifiable฀assets:
฀ Americas $฀1,275,831 $฀ 537,199
฀ EMEA 152,473 483,637
฀ Asia-Pacific 41,967 43,240
฀ Online฀Services฀division 211,385 222,008
฀ ฀ Total฀identifiable฀assets $฀1,681,656 $฀1,286,084
Long-lived฀assets,฀net:
฀ United฀States $฀ 36,596 $฀ 31,376
฀ United฀Kingdom 29,200 30,165
฀ Other฀foreign฀countries 7,931 7,740
฀ ฀ Total฀long-lived฀assets,฀net $฀ 73,727 $฀ 69,281
The฀increase฀in฀identifiable฀assets฀in฀the฀Americas฀segment฀is฀primarily฀due฀to฀the฀repatriation฀of฀certain฀of฀the฀Company’s฀foreign฀
earnings฀from฀the฀Company’s฀EMEA฀segment฀to฀its฀Americas฀segment฀pursuant฀to฀the฀provisions฀of฀the฀AJCA฀and฀goodwill฀and฀
intangible฀assets฀associated฀with฀the฀Company’s฀2005฀Acquisitions.฀See฀Note฀3฀for฀additional฀information฀regarding฀the฀Company’s฀
acquisitions฀and฀Note฀11฀for฀additional฀information฀regarding฀the฀AJCA.
Export฀revenue฀represents฀shipments฀of฀finished฀goods฀and฀services฀from฀the฀United฀States฀to฀international฀customers,฀primarily฀in฀
Latin฀America฀and฀Canada.฀Shipments฀from฀the฀United฀States฀to฀international฀customers฀for฀2005,฀2004฀and฀2003฀were฀$42.4฀million,฀
$32.9฀million฀and฀$24.3฀million,฀respectively.