ServiceMagic 2014 Annual Report Download - page 103

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IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
_______________________________________________________________________________
Revenue by geography is based on where the customer is located. Geographic information about revenue and long-lived assets is presented
below:
79
December 31,
2014
2013
(In thousands)
Segment Assets:
(b)
Search & Applications
$
341,886
$
409,116
The Match Group
297,166
341,377
Media
87,448
92,500
eCommerce
50,133
41,827
Corporate
1,251,383
1,229,205
Total
$
2,028,016
$
2,114,025
Years Ended December 31,
2014
2013
2012
(In thousands)
Capital expenditures:
Search & Applications
$
17,701
$
22,215
$
15,320
The Match Group
22,105
19,997
19,853
Media
1,566
1,197
1,178
eCommerce
9,620
8,921
8,485
Corporate
6,241
27,981
6,365
Total
$
57,233
$
80,311
$
51,201
(a) The Company's primary financial measure is Adjusted EBITDA, which is defined as operating income excluding: (1) non-cash compensation expense; (2) depreciation; and
(3) acquisition-related items consisting of (i) amortization of intangible assets and goodwill and intangible asset impairments and (ii) gains and losses recognized on changes
in the fair value of contingent consideration arrangements. The Company believes this measure is useful for analysts and investors as this measure allows a more meaningful
comparison between our performance and that of our competitors. Moreover, our management uses this measure internally to evaluate the performance of our business as a
whole and our individual business segments. The above items are excluded from our Adjusted EBITDA measure because these items are non-cash in nature, and we believe
that by excluding these items, Adjusted EBITDA corresponds more closely to the cash operating income generated from our business, from which capital investments are
made and debt is serviced. Adjusted EBITDA has certain limitations in that it does not take into account the impact to IAC's statement of operations of certain expenses.
(b) Consistent with the Company's primary metric (described in (a) above), the Company excludes, if applicable, goodwill and intangible assets from the measure of segment
assets presented above.
Years Ended December 31,
2014
2013
2012
(In thousands)
Revenue
United States
$
2,146,189
$
2,081,485
$
1,966,383
All other countries
963,358
941,502
834,550
Total
$
3,109,547
$
3,022,987
$
2,800,933