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j2 GLOBAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
Year Ended December 31, 2014
(In thousands, except share and per share data)
- 100 -
j2 Global, Inc.
j2 Cloud Services, Inc
Non-guarantor
Subsidiaries
Consolidating
Adjustments
j2 Global Consolidated
Revenues:
Total revenues
$
—
$
227,860
$
412,217
$
(41,047
)
$
599,030
Cost of revenues —
51,391
95,386
(40,788
)
105,989
Gross profit —
176,469
316,831
(259
)
493,041
Operating expenses:
Sales and marketing —
36,414
105,812
(259
)
141,967
Research, development and engineering —
14,055
16,625
—
30,680
General and administrative
6,401
30,300
97,487
—
134,188
Total operating expenses
6,401
80,769
219,924
(259
)
306,835
Income from operations
(6,401
)
95,700
96,907
—
186,206
Equity earnings in Subsidiaries
135,838
77,051
—
(
212,889
)
—
Interest expense (income), net
10,442
20,478
284
—
31,204
Other expense (income), net
(23
)
141
(283
)
—
(
165
)
Income before income taxes
119,018
152,132
96,906
(212,889
)
155,167
Income tax expense
(6,309
)
16,294
19,855
—
29,840
Net income
125,327
135,838
77,051
(212,889
)
125,327
Less net loss attributable to
noncontrolling interest —
—
—
—
—
Less extinguishment of Series A
preferred stock
(991
)
—
—
—
(
991
)
Net income attributable to j2 Global, Inc.
common shareholders
$
124,336
$
135,838
$
77,051
$
(212,889
)
$
124,336