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Business Segment and Geographic Information | 12 Months Ended
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Dec. 31, 2019
Business Segment and Geographic Information |
Business Segment and Geographic Information | 20. Business Segment and Geographic Information The Company operates electronic marketplaces for the trading of products across the rates, credit, equities and money markets asset classes and provides related pre-trade and post-trade services. The Company’s operations constitute a single business segment because of the integrated nature of these marketplaces and services. Information regarding revenue by client sector is as follows (in thousands):
|  | Successor |  |  | Successor |  | Predecessor |  | Predecessor
|  | Year Ended |  |  | October 1, 2018 to |  | January 1, 2018 to |  | Year Ended
|  | December 31, |  |  | December 31, |  | September 30, |  | December 31,
|  | 2019 |  |  | 2018 |  | 2018 |  | 2017
Net revenue: |  |  |  |  |  |  |  |  |  |  |  |  |
Institutional |  | $ | 453,379 |  |  | $ | 103,971 |  | $ | 301,918 |  | $ | 318,038
Wholesale |  |  | 171,096 |  |  |  | 38,153 |  |  | 99,028 |  |  | 118,451
Retail |  |  | 80,368 |  |  |  | 19,780 |  |  | 57,766 |  |  | 70,857
Market Data |  |  | 70,723 |  |  |  | 16,733 |  |  | 47,059 |  |  | 55,622
Contingent consideration |  |  | — |  |  |  | — |  |  | (26,830) |  |  | (58,520)
Net revenue |  |  | 775,566 |  |  |  | 178,637 |  |  | 478,941 |  |  | 504,448
Operating expenses |  |  | 585,747 |  |  |  | 146,702 |  |  | 338,607 |  |  | 415,356
Operating income |  | $ | 189,819 |  |  | $ | 31,935 |  | $ | 140,334 |  | $ | 89,092
The Company operates in the U.S. and internationally, primarily in the Europe and Asia regions. Revenues are attributed to geographic area based on the jurisdiction where the underlying transactions take place. The results by geographic region are not meaningful in understanding the Company's business. Long-lived assets are attributed to the geographic area based on the location of the particular subsidiary. The following table provides a breakdown of revenue by geographic area for the year ended December 31, 2019, the 2018 Successor Period, the 2018 Predecessor Period and the year ended December 31, 2017 (in thousands):
|  | Successor |  |  | Successor |  | Predecessor |  | Predecessor
|  | Year Ended |  |  | October 1, 2018 to |  | January 1, 2018 to |  | Year Ended
|  | December 31, |  |  | December 31, |  | September 30, |  | December 31,
|  | 2019 |  |  | 2018 |  | 2018 |  | 2017
Net Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 497,316 |  |  | $ | 115,907 |  | $ | 324,304 |  | $ | 385,176
International |  |  | 278,250 |  |  |  | 62,730 |  |  | 181,467 |  |  | 177,792
Gross revenue |  |  | 775,566 |  |  |  | 178,637 |  |  | 505,771 |  |  | 562,968
Contingent consideration |  |  | — |  |  |  | — |  |  | (26,830) |  |  | (58,520)
Total |  | $ | 775,566 |  |  | $ | 178,637 |  | $ | 478,941 |  | $ | 504,448
The following table provides information on the attribution of long-lived assets by geographic area (in thousands):
|  | Successor |  | Successor
|  | December 31, |  | December 31,
|  | 2019 |  | 2018
Long-lived assets |  |  |  |  |  |
U.S. |  | $ | 4,200,133 |  | $ | 4,276,568
International |  |  | 14,100 |  |  | 7,787
Total |  | $ | 4,214,233 |  | $ | 4,284,355

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- References No definition available. + Details
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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