ServiceMagic 2014 Annual Report Download - page 114

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IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Statement of operations for the year ended December 31, 2014:
88
IAC
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries
Eliminations
IAC Consolidated
(In thousands)
Revenue
$
—
$
2,286,621
$
834,765
$
(11,839
)
$
3,109,547
Operating costs and expenses:
Cost of revenue (exclusive of
depreciation shown separately below)
998
525,185
359,746
(2,753
)
883,176
Selling and marketing expense
2,138
904,221
226,381
(8,303
)
1,124,437
General and administrative expense
105,221
211,293
127,051
45
443,610
Product development expense
6,496
110,375
44,472
(828
)
160,515
Depreciation
1,426
40,645
19,085
—
61,156
Amortization of intangibles
—
37,661
20,265
—
57,926
Total operating costs and expenses
116,279
1,829,380
797,000
(11,839
)
2,730,820
Operating (loss) income
(116,279
)
457,241
37,765
—
378,727
Equity in earnings (losses) of unconsolidated
affiliates
253,582
34,613
452
(298,344
)
(9,697
)
Interest expense
(51,988
)
(4,246
)
(80
)
—
(
56,314
)
Other income (expense), net
2,688
(3,315
)
(42,160
)
—
(
42,787
)
Earnings (loss) from continuing operations
before income taxes
88,003
484,293
(4,023
)
(298,344
)
269,929
Income tax benefit (provision)
152,197
(172,128
)
(15,441
)
—
(
35,372
)
Earnings (loss) from continuing
operations
240,200
312,165
(19,464
)
(298,344
)
234,557
Earnings from discontinued operations, net
of tax
174,673
—
570
(570
)
174,673
Net earnings (loss)
414,873
312,165
(18,894
)
(298,914
)
409,230
Net loss attributable to noncontrolling
interests
—
—
5,643
—
5,643
Net earnings (loss) attributable to IAC
shareholders
$
414,873
$
312,165
$
(13,251
)
$
(298,914
)
$
414,873
Comprehensive income (loss)attributable
to IAC shareholders
$
340,219
$
303,976
$
(84,767
)
$
(219,209
)
$
340,219