Earthlink 2000 Annual Report Download - page 13

ITEM 6. SELECTED FINANCIAL DATA.
The following selected consolidated financial data should be read in conjunction with "Management's Discussion and Analysis of Financial
Condition and Results of Operations" and the Consolidated Financial Statements and Notes thereto included elsewhere in this Report.
SELECTED CONSOLIDATED FINANCIAL INFORMATION
(1) Reflects the accretion of liquidation dividends on Series A and B convertible preferred stock at 3% compounded quarterly and the accretion
of a dividend related to the beneficial conversion feature in accordance with EITF 98-5.
(2) Each outstanding share of then existing EarthLink Network, Inc. common stock was exchanged for 1.615 shares of the common stock of
EarthLink and each outstanding share of then existing MindSpring Enterprises, Inc. common stock was exchanged for one share of the
common stock of EarthLink. See note 1 of the Notes to Consolidated Financial Statements for an explanation of the determination of the
number of weighted average shares outstanding in the net loss per share computation.
(3) Represents earnings (loss) before depreciation and amortization, interest income and expense and income tax expense. EBITDA is not
determined in accordance with accounting principles generally accepted in the United States, is not indicative of cash used by operating
activities and should not be considered in isolation from, as an alternative to, or more meaningful than measures of performance determined in
accordance with accounting principles generally accepted in the United States.
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YEAR ENDED DECEMBER 31,
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1996 1997 1998 1999 2000
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STATEMENT OF OPERATIONS DATA:
Revenues............................... $ 51,362 $133,444 $290,614 $ 670,433 $ 986,630
Operating costs and expenses........... 89,142 165,641 345,069 866,113 1,381,431
Loss from operations................... (37,780) (32,197) (54,455) (195,680) (394,801)
Net loss............................... (38,761) (33,997) (53,178) (173,694) (345,922)
Deductions for accretion
dividends(1)......................... -- -- (7,601) (14,106) (23,730)
-------- -------- -------- ---------- ----------
Net loss attributable to common
stockholders......................... $(38,761) $(33,997) $(60,779) $ (187,800) $ (369,652)
======== ======== ======== ========== ==========
Basic and diluted net loss per
share(2)............................. $ (0.76) $ (0.44) $ (0.66) $ (1.65) $ (2.99)
======== ======== ======== ========== ==========
Weighted average shares(2)............. 51,119 77,387 91,466 113,637 123,592
======== ======== ======== ========== ==========
OTHER OPERATING DATA:
EBITDA(3)............................ $(30,342) $(14,127) $ 15,498 $ (6,157) $ (189,249)
Cash flows from
Operating activities............... (18,227) (9,936) 62,098 44,211 (127,162)
Investing activities............... (39,697) (25,097) (56,886) (339,749) (351,731)
Financing activities............... 70,855 47,223 277,559 672,684 467,886
YEAR ENDED DECEMBER 31,
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1996 1997 1998 1999 2000
-------- -------- --------- ---------- ----------
BALANCE SHEET DATA:
Cash and cash equivalents.............. $ 13,646 $ 25,836 $ 308,607 $ 685,753 $ 674,746
Total assets........................... 62,351 91,175 510,002 1,109,147 1,486,137
Long-term debt......................... 8,813 13,308 10,125 188,367 13,472
Total liabilities...................... 44,192 63,685 109,515 350,694 303,886
Accumulated deficit.................... (45,802) (79,799) (140,578) (328,378) (698,030)
Stockholders' equity................... 18,159 27,490 400,487 758,453 1,182,251