XML 40 R29.htm IDEA: XBRL DOCUMENT v3.5.0.2
SEGMENT REPORTING (Tables)
 9 Months Ended
Sep. 30, 2016
Segment Reporting [Abstract]  
Summarized information by operating segment
Summarized information by operating segment consists of the following (in thousands):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2016
 
2015
 
2016
 
2015
Revenues
 
 
 
 
 
 
 
North America
$
205,637

 
$
182,556

 
$
598,757

 
$
500,059

International
 

 
 

 
 

 
 

External customers
7,074

 
6,522

 
20,562

 
18,696

Intersegment revenue
3

 
4

 
24

 
25

Total International revenue
7,077

 
6,526

 
20,586

 
18,721

Intersegment eliminations
(3
)
 
(4
)
 
(24
)
 
(25
)
Total revenues
$
212,711

 
$
189,078

 
$
619,319

 
$
518,755

 
 
 
 
 
 
 
 
EBITDA
 

 
 

 
 

 
 

North America
$
56,305

 
$
20,993

 
$
148,296

 
$
32,816

International
1,371

 
1,096

 
2,761

 
2,124

Total EBITDA
$
57,676

 
$
22,089

 
$
151,057

 
$
34,940
Reconciliation of net income (loss) to EBITDA
The reconciliation of net income (loss) to EBITDA consists of the following (in thousands):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2016
 
2015
 
2016
 
2015
Net income (loss)
$
23,201

 
$
(5,362
)
 
$
55,498

 
$
(26,455
)
Purchase amortization in cost of revenues
5,736

 
9,964

 
17,119

 
22,887

Purchase amortization in operating expenses
5,550

 
7,153

 
17,602

 
21,260

Depreciation and other amortization
6,794

 
5,403

 
18,320

 
14,860

Interest income
(344
)
 
(42
)
 
(587
)
 
(473
)
Interest expense
2,498

 
2,363

 
7,462

 
7,060

Income tax expense (benefit), net
14,241

 
2,610

 
35,643

 
(4,199
)
EBITDA
$
57,676

 
$
22,089

 
$
151,057

 
$
34,940
Summarized information by operating segment, assets and liabilities
Summarized information by operating segment consists of the following (in thousands):
 
September 30,
2016
 
December 31,
2015
Property and equipment, net
 
 
 
North America
$
83,415

 
$
86,191

International
1,951

 
2,120

Total property and equipment, net
$
85,366

 
$
88,311

 
 
 
 
Goodwill
 

 
 

North America
$
1,227,777

 
$
1,227,310

International
28,576

 
25,635

Total goodwill
$
1,256,353

 
$
1,252,945

 
 
 
 
Assets
 

 
 

North America
$
2,205,725

 
$
2,130,202

International
45,990

 
41,370

Total operating segment assets
$
2,251,715

 
$
2,171,572

 
 
 
 
Reconciliation of operating segment assets to total assets
 

 
 

Total operating segment assets
$
2,251,715

 
$
2,171,572

Investment in subsidiaries
(18,344
)
 
(18,344
)
Intersegment receivables
(80,784
)
 
(73,657
)
Total assets
$
2,152,587

 
$
2,079,571

 
 
 
 
Liabilities
 

 
 

North America
$
523,844

 
$
525,566

International
71,094

 
72,544

Total operating segment liabilities
$
594,938

 
$
598,110

 
 
 
 
Reconciliation of operating segment liabilities to total liabilities
 

 
 

Total operating segment liabilities
$
594,938

 
$
598,110

Intersegment payables
(61,049
)
 
(62,319
)
Total liabilities
$
533,889

 
$
535,791
Revenues by services
The revenue by type of service consists of the following (in thousands):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2016
 
2015
 
2016
 
2015
Information and analytics
 
 
 
 
 
 
 
CoStar Suite(1)
$
103,261

 
$
91,350

 
$
301,969

 
$
266,931

Information services(2)
19,486

 
19,126

 
58,336

 
56,415

Online marketplaces
 
 
 
 
 
 
 
Multifamily(3)
57,654

 
49,312

 
164,752

 
110,187

Commercial property and land(4)
32,310

 
29,290

 
94,262

 
85,222

Total revenues
$
212,711

 
$
189,078

 
$
619,319

 
$
518,755


(1) CoStar Suite is comprised of CoStar Property Professional, CoStar COMPS Professional, CoStar Tenant; CoStar Market Analytics; and CoStar Portfolio Strategy.

(2) Information services is comprised of LoopNet Premium Searcher; CoStar Real Estate Manager; CoStar Risk Analytics COMPASS; CoStar Investment Analysis Portfolio Maximizer; CoStar Investment Analysis Request; CoStar Brokerage Applications; PROPEX; Grecam; Belbex and Thomas Daily.

(3) Multifamily is comprised of Apartments.com, ApartmentFinder.com and ApartmentHomeLiving.com.

(4) Commercial property and land is comprised of LoopNet Premium Lister; LoopLink; CoStar Advertising; BizBuySell and BizQuest; LandsofAmerica and LandAndFarm; and CoStar Private Sale Network.