Home Shopping Network 2008 Annual Report Download - page 55

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HSN, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
52
operations of certain expenses, including non-cash compensation, amortization of non-cash marketing, amortization
of intangibles, depreciation, gains and losses on asset dispositions, asset impairment charges, acquisition-related
accounting and one-time items.
The following tables reconcile Adjusted EBITDA to operating (loss) income for HSNi's operating segments
(in thousands):
HSN Cornerstone Total
$ (2,332,789) $ (769,522) $ (3,102,311)
Non-cash compensation expense 14,197 6,089 20,286
8,022 - 8,022
Amortization of intangible assets 568 6,897 7,465
2,441,594 745,056 3,186,650
Depreciation 27,348 10,090 37,438
1,339 15 1,354
Adjusted EBITDA 160,279$ (1,375)$ 158,904$
Year Ended December 31, 2008
Amortization of non-cash marketing
Operating loss
Asset impairments
Loss on disposition of fixed assets
HSN Cornerstone Total
$ 135,298 $ 34,493 $ 169,791
Non-cash compensation expense 6,411 5,749 12,160
4,442 - 4,442
Amortization of intangible assets 2,584 10,097 12,681
- - -
Depreciation 25,404 8,959 34,363
258 18 276
Adjusted EBITDA 174,397$ 59,316$ 233,713$
Asset impairments
Loss on disposition of fixed assets
Year Ended December 31, 2007
Operating income
Amortization of non-cash marketing
HSN Cornerstone Total
$ 165,221 $ 47,975 $ 213,196
Non-cash compensation expense 4,733 7,013 11,746
- - -
Amortization of intangible assets 24,502 9,722 34,224
- - -
Depreciation 29,082 8,191 37,273
178 (32) 146
Adjusted EBITDA 223,716$ 72,869$ 296,585$
Amortization of non-cash marketing
Asset impairments
Loss on disposition of fixed assets
Year Ended December 31, 2006
Operating income
Financial information by segment is as follows (thousands):