Avid 2009 Annual Report Download - page 83

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78
The following is a summary of the Company’s revenues and contribution margin by reportable segment for the years ended
December 31, 2009, 2008 and 2007 and a reconciliation of segment contribution margin to total consolidated operating loss
for each period (in thousands):
2009
2008
2007
Revenues:
Video (a)
$
375,010
$
551,706
$
610,577
Audio
253,960
293,195
318,993
Total revenues
$
628,970
$
844,901
$
929,570
Contribution Margin:
Video
$
113,524
$
144,639
$
195,926
Audio
91,534
101,489
116,373
Segment contribution margin
205,058
246,128
312,299
Less unallocated costs and expenses:
Research and development expenses
(6,918
)
(7,170
)
(6,317
)
Marketing and selling expenses
(158,812
)
(191,948
)
(191,784
)
General and administrative expenses
(51,598
)
(66,906
)
(64,957
)
Amortization of acquisition-related intangible assets
(12,544
)
(20,380
)
(30,621
)
Impairment of goodwill and intangible assets
—
(129,972
)
—
Stock-based compensation
(13,394
)
(14,201
)
(15,949
)
Restructuring costs, net
(27,672
)
(27,288
)
(13,688
)
Legal settlements and other costs
(4,159
)
—
(1,602
)
Gain on sales of assets
155
13,287
—
Consolidated operating loss
$
(69,884
)
$
(198,450
)
$
(12,619
)
(a) Video revenues for the years ended December 31, 2009, 2008 and 2007 include revenues of $1.9 million, $61.5 million and $68.7 million,
respectively, attributable to divested or exited product lines.
Certain assets, including cash and marketable securities and acquisition-related intangible assets, are not included in the
assets of the reportable segments 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 at December 31,
2009, 2008 and 2007 (in thousands):
2009
2008
2007
Assets:
Video
$
162,984
$
202,431
$
253,803
Audio
82,747
89,942
95,679
Total assets for reportable segments
245,731
292,373
349,482
Unallocated amounts:
Cash, cash equivalents and marketable securities
108,877
147,694
224,460
Acquisition-related intangible assets and goodwill
256,430
263,518
432,011
Total assets
$
611,038
$
703,585
$
1,005,953
The following is a summary of depreciation and capital expenditures by reportable segment for the years ended December
31, 2009, 2008 and 2007 (in thousands):
2009
2008
2007
Video:
Depreciation
$
13,561
$
14,704
$
16,579
Capital expenditures
13,639
12,791
17,508
Audio:
Depreciation
$
4,643
$
6,175
$
4,523
Capital expenditures
5,625
4,338
8,642