ServiceMagic 2013 Annual Report Download - page 118

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IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Statement of operations for the year ended December 31, 2013:
86
IAC
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries
Total Eliminations
IAC Consolidated
(In thousands)
Revenue
$
—
$
2,082,255
$
944,847
$
(4,115
)
$
3,022,987
Costs and expenses:
Cost of revenue (exclusive of
depreciation shown separately below)
2,456
579,411
421,094
(2,860
)
1,000,101
Selling and marketing expense
2,563
707,526
255,175
(1,133
)
964,131
General and administrative expense
97,025
155,560
120,007
(122
)
372,470
Product development expense
4,685
95,074
41,571
—
141,330
Depreciation
1,386
37,476
20,047
—
58,909
Amortization of intangibles
—
39,473
20,370
—
59,843
Total costs and expenses
108,115
1,614,520
878,264
(4,115
)
2,596,784
Operating (loss) income
(108,115
)
467,735
66,583
—
426,203
Equity in earnings (losses) of
unconsolidated affiliates
439,925
68,500
(303
)
(514,737
)
(6,615
)
Interest expense
(29,417
)
(3,979
)
(200
)
—
(
33,596
)
Other (expense) income, net
(35,331
)
(36,005
)
101,645
—
30,309
Earnings from continuing operations before
income taxes
267,062
496,251
167,725
(514,737
)
416,301
Income tax benefit (provision)
16,796
(154,910
)
3,612
—
(
134,502
)
Earnings from continuing operations
283,858
341,341
171,337
(514,737
)
281,799
Earnings (losses) from discontinued
operations, net of tax
1,926
—
(
39
)
39
1,926
Net earnings
285,784
341,341
171,298
(514,698
)
283,725
Net loss attributable to noncontrolling
interests
—
411
1,648
—
2,059
Net earnings attributable to IAC
shareholders
$
285,784
$
341,752
$
172,946
$
(514,698
)
$
285,784
Comprehensive income attributable to
IAC shareholders
$
304,907
$
342,616
$
183,646
$
(526,262
)
$
304,907