ServiceMagic 2012 Annual Report Download - page 86

IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
approach. The impairment charge is included in "Equity in losses of unconsolidated affiliates" in the accompanying consolidated statement of
operations.
The comparability of the summarized aggregated financial information presented below is affected by changes in ownership of our various
equity method investments over the three-year period ended December 31, 2012. The operating data for 2010 is primarily comprised of Meetic;
the operating data for 2011 is primarily comprised of Meetic and News_Beast; and the operating data for 2012 is primarily comprised of
News_Beast. The balance sheet data at December 31, 2011 is primarily comprised of News_Beast and the balance sheet data at December 31,
2012 is comprised of our equity method investments other than Meetic and News_Beast. During 2010 and through August 31, 2011 we
accounted for our 27% ownership interest in Meetic as an equity method investment. In 2011 we acquired a controlling interest in Meetic and as
a result, Meetic is included within our consolidated financial statements beginning September 1, 2011. During 2011 and through May 31, 2012
we accounted for our 50% ownership interest in News_Beast as an equity method investment. In 2012 we acquired a controlling interest in
News_Beast and as a result, News_Beast is included within our consolidated financial statements beginning June 1, 2012.
Summarized aggregated financial information for the Company's equity method investments is as follows:
_______________________________________________________________________________
Auction rate security
See Note 9 for information regarding the auction rate security.
NOTE 9—FAIR VALUE MEASUREMENTS
The following tables present the Company's assets and liabilities that are measured at fair value on a recurring basis:
66
December 31,
2012
2011
(In thousands)
Balance sheet data
(a)
:
Current assets
$
10,603
$
42,527
Non-current assets
25,472
45,852
Current liabilities
(20,227
)
(47,085
)
Non-current liabilities
(5,962
)
(11,044
)
Twelve Months Ended December 31,
2012
2011 2010
(In thousands)
Operating data
(a)
:
Net sales
$
78,058
$
368,433
$
275,584
Gross profit
16,777
105,749
67,716
Net (loss) income
(30,761
)
(17,636
)
14,083
(a) Summarized financial information for the Company's equity method investments is presented for the periods during which the Company holds or held an equity
ownership interest. The summarized financial information for certain equity method investments is presented on a one quarter lag.