ServiceMagic 2010 Annual Report Download - page 104
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Table of Contents
IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 14—SEGMENT INFORMATION (Continued)
98
December 31,
2010
2009
(In thousands)
Segment Assets(b):
Search
$
280,773
$
250,475
Match
196,177
233,919
ServiceMagic
13,834
21,607
Media & Other
43,674
23,973
Corporate
1,670,559
2,257,248
Total
$
2,205,017
$
2,787,222
Years Ended December 31,
2010 2009 2008
(In thousands)
Depreciation:
Search
$
38,341
$
33,118
$
35,822
Match
11,042
9,821
8,825
ServiceMagic
3,986
3,344
3,249
Media & Other
2,285
3,936
6,987
Corporate
8,243
11,172
12,833
Total
$
63,897
$
61,391
$
67,716
Years Ended December 31,
2010
2009
2008
(In thousands)
Capital expenditures:
Search
$
21,934
$
19,590
$
29,524
Match
10,087
7,814
10,989
ServiceMagic
4,884
3,565
2,516
Media & Other
2,289
2,734
7,927
Corporate
635
235
8,027
Total
$
39,829
$
33,938
$
58,983
(a) The Company's primary metric is Operating Income Before Amortization, which is defined as operating
income excluding, if applicable: (1) non-cash compensation expense, (2) amortization of non-cash
marketing, (3) amortization and impairment of intangibles, (4) goodwill impairment, (5) pro forma
adjustments for significant acquisitions, and (6) one-time items. The Company believes this measure is
useful to investors because it represents the operating results from IAC's segments, taking into account
depreciation, which it believes is an ongoing cost of doing business, but excluding the effects of any other
non-cash expenses. Operating Income Before Amortization has certain limitations in that it does not take
into account the impact to IAC's statement of operations of certain expenses, including non-cash
compensation, non
-
cash marketing, and acquisition