American Home Shield 2010 Annual Report Download - page 79

Table of Contents
Notes to the Consolidated Financial Statements (Continued)
Note 2. Acquisition of ServiceMaster (Continued)
The Permanent Notes were issued pursuant to a refinancing indenture. In connection with the issuance of the Permanent Notes, ServiceMaster entered into the
Registration Rights Agreement, pursuant to which ServiceMaster filed with the SEC a registration statement with respect to the resale of the Permanent Notes,
which was declared effective on January 16, 2009. ServiceMaster deregistered the Permanent Notes in accordance with the terms of the Registration Rights
Agreement, and the effectiveness of the registration statement was terminated on November 19, 2009. See Note 12 for a description of the Company's
indebtedness.
Upon consummation of the Merger, ServiceMaster de-listed its shares of common stock from the New York Stock Exchange (the "NYSE") and
deregistered under Section 12 of the Securities Exchange Act of 1934. The last day of trading of ServiceMaster common stock on the NYSE was July 24,
2007.
Note 3. Business Segment Reporting
The business of the Company is conducted through six reportable segments: TruGreen LawnCare, TruGreen LandCare, Terminix, American Home
Shield, ServiceMaster Clean and Other Operations and Headquarters.
In accordance with accounting standards for segments, the Company's reportable segments are strategic business units that offer different services. The
TruGreen LawnCare segment provides residential and commercial lawn care services. The TruGreen LandCare segment provides landscaping services
primarily to commercial customers. The Terminix segment provides termite and pest control services to residential and commercial customers. The American
Home Shield segment provides home service contracts to consumers that cover heating, ventilation, air conditioning, plumbing and other home systems and
appliances. The ServiceMaster Clean segment provides residential and commercial disaster restoration and cleaning services primarily under the
ServiceMaster and ServiceMaster Clean brand names, on-site furniture repair and restoration services primarily under the Furniture Medic brand name and
home inspection services primarily under the AmeriSpec brand name. The Other Operations and Headquarters segment includes the franchised and Company-
owned operations of Merry Maids, which provides house cleaning services. The Other Operations and Headquarters segment also includes SMAC, our
financing subsidiary exclusively dedicated to providing financing to our franchisees and retail customers of our operating units, and the Company's
headquarters operations, which provide various technology, marketing, finance, legal and other support services to the business units.
Information regarding the accounting policies used by the Company is described in Note 1. The Company derives substantially all of its revenue from
customers and franchisees in the United States with less than two percent generated in foreign markets. Operating expenses of the business units consist
primarily of direct costs. Identifiable assets are those used in carrying out the operations of the business unit and include intangible assets directly related to its
operations.
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