v2.4.0.6

SEGMENT INFORMATION | 12 Months Ended
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Dec. 31, 2011
SEGMENT INFORMATION |
SEGMENT INFORMATION |
NOTE 15—SEGMENT INFORMATION The overall concept that IAC employs in determining its operating segments is to present the financial information in a manner consistent with how the chief operating decision maker and executive management view the businesses, how the businesses are organized as to segment management, and the focus of the businesses with regards to the types of services or products offered or the target market. Operating segments are combined for reporting purposes if they meet certain aggregation criteria, which principally relate to the similarity of their economic characteristics or, in the case of Other, do not meet the quantitative thresholds that require presentation as separate operating segments.
|  | Years Ended December 31, |
--- | --- | --- | ---
|  | 2011 |  | 2010 |  | 2009 |
|  | (In thousands) |
Revenue: |  |  |  |  |  |  |  |  |  |
Search & Applications |  | $ | 1,040,507 |  | $ | 805,284 |  | $ | 649,642 |
Match |  |  | 518,027 |  |  | 400,723 |  |  | 342,598 |
Local |  |  | 303,418 |  |  | 263,749 |  |  | 230,426 |
Media |  |  | 70,164 |  |  | 49,692 |  |  | 14,833 |
Other |  |  | 128,065 |  |  | 118,749 |  |  | 110,765 |
Inter-segment elimination |  |  | (737 | ) |  | (1,382 | ) |  | (1,569 | )
Total |  | $ | 2,059,444 |  | $ | 1,636,815 |  | $ | 1,346,695 |
|  | Years Ended December 31, |
--- | --- | --- | ---
|  | 2011 |  | 2010 |  | 2009 |
|  | (In thousands) |
Operating Income (Loss): |  |  |  |  |  |  |  |  |  |
Search & Applications |  | $ | 204,006 |  | $ | 128,356 |  | $ | (967,657 | )
Match |  |  | 137,555 |  |  | 115,367 |  |  | 84,655 |
Local |  |  | 25,533 |  |  | 8,405 |  |  | 3,974 |
Media |  |  | (16,275 | ) |  | (23,385 | ) |  | (16,061 | )
Other |  |  | (3,896 | ) |  | (31,600 | ) |  | (9,165 | )
Corporate |  |  | (149,161 | ) |  | (147,348 | ) |  | (133,733 | )
Total |  | $ | 197,762 |  | $ | 49,795 |  | $ | (1,037,987 | )
|  | Years Ended December 31, |
--- | --- | --- | ---
|  | 2011 |  | 2010 |  | 2009 |
|  | (In thousands) |
Operating Income Before Amortization(a): |  |  |  |  |  |  |  |  |  |
Search & Applications |  | $ | 204,980 |  | $ | 140,792 |  | $ | 103,856 |
Match |  |  | 156,274 |  |  | 122,057 |  |  | 94,124 |
Local |  |  | 28,284 |  |  | 10,671 |  |  | 12,357 |
Media |  |  | (15,845 | ) |  | (21,849 | ) |  | (15,518 | )
Other |  |  | (2,499 | ) |  | 2,091 |  |  | (7,493 | )
Corporate |  |  | (62,787 | ) |  | (64,183 | ) |  | (65,465 | )
Total |  | $ | 308,407 |  | $ | 189,579 |  | $ | 121,861 |
|  | December 31, |
--- | --- | --- | ---
|  | 2011 |  | 2010 |
|  | (In thousands) |
Segment Assets(b): |  |  |  |  |  |  |
Search & Applications |  | $ | 246,459 |  | $ | 260,288 |
Match |  |  | 190,338 |  |  | 196,177 |
Local |  |  | 46,581 |  |  | 42,473 |
Media |  |  | 25,429 |  |  | 23,252 |
Other |  |  | 15,910 |  |  | 13,191 |
Corporate |  |  | 1,148,517 |  |  | 1,559,161 |
Total |  | $ | 1,673,234 |  | $ | 2,094,542 |
|  | Years Ended December 31, |
--- | --- | --- | ---
|  | 2011 |  | 2010 |  | 2009 |
|  | (In thousands) |
Depreciation: |  |  |  |  |  |  |  |  |  |
Search & Applications |  | $ | 25,484 |  | $ | 35,754 |  | $ | 31,395 |
Match |  |  | 10,780 |  |  | 11,042 |  |  | 9,821 |
Local |  |  | 10,388 |  |  | 7,785 |  |  | 6,259 |
Media |  |  | 703 |  |  | 245 |  |  | 169 |
Other |  |  | 851 |  |  | 828 |  |  | 2,575 |
Corporate |  |  | 8,513 |  |  | 8,243 |  |  | 11,172 |
Total |  | $ | 56,719 |  | $ | 63,897 |  | $ | 61,391 |
|  | Years Ended December 31, |
--- | --- | --- | ---
|  | 2011 |  | 2010 |  | 2009 |
|  | (In thousands) |
Capital expenditures: |  |  |  |  |  |  |  |  |  |
Search & Applications |  | $ | 8,698 |  | $ | 17,169 |  | $ | 16,913 |
Match |  |  | 17,447 |  |  | 10,087 |  |  | 7,814 |
Local |  |  | 9,299 |  |  | 10,513 |  |  | 7,482 |
Media |  |  | 905 |  |  | 474 |  |  | 273 |
Other |  |  | 970 |  |  | 951 |  |  | 1,221 |
Corporate |  |  | 2,635 |  |  | 635 |  |  | 235 |
Total |  | $ | 39,954 |  | $ | 39,829 |  | $ | 33,938 |
(a) The Company's primary metric is Operating Income Before Amortization, which is defined as operating income excluding, if applicable: (1) non-cash compensation expense, (2) amortization of non-cash marketing, (3) amortization and impairment of intangibles, (4) goodwill impairment and (5) one-time items. The Company believes this measure is useful to investors because it represents the operating results from IAC's segments, taking into account depreciation, which it believes is an ongoing cost of doing business, but excluding the effects of any other non-cash expenses. Operating Income Before Amortization has certain limitations in that it does not take into account the impact to IAC's statement of operations of certain expenses, including non-cash compensation, non-cash marketing, and acquisition related accounting. IAC endeavors to compensate for the limitations of the non-U.S. GAAP measure presented by providing the comparable U.S. GAAP measure with equal or greater prominence, financial statements prepared in accordance with U.S. GAAP, and descriptions of the reconciling items, including quantifying such items, to derive the non-U.S. GAAP measure. (b) Consistent with the Company's primary metric (described in (a) above), the Company excludes, if applicable, goodwill and intangible assets from the measure of segment assets presented above. Revenue by geography is based on where the customer is located. Geographic information about revenue and long-lived assets is presented below:
|  | Years Ended December 31, |
--- | --- | --- | ---
|  | 2011 |  | 2010 |  | 2009 |
|  | (In thousands) |
Revenue |  |  |  |  |  |  |  |  |  |
United States |  | $ | 1,583,322 |  | $ | 1,359,655 |  | $ | 1,138,820 |
All other countries |  |  | 476,122 |  |  | 277,160 |  |  | 207,875 |
Total |  | $ | 2,059,444 |  | $ | 1,636,815 |  | $ | 1,346,695 |
|  | December 31, |
--- | --- | --- | ---
|  | 2011 |  | 2010 |
|  | (In thousands) |
Long-lived assets (excluding goodwill and intangible assets) |  |  |  |  |  |  |
United States |  | $ | 246,550 |  | $ | 267,060 |
All other countries |  |  | 13,038 |  |  | 868 |
Total |  | $ | 259,588 |  | $ | 267,928 |
The following tables reconcile Operating Income Before Amortization to operating income (loss) for the Company's reportable segments:
|  | Year Ended December 31, 2011 |
--- | --- | --- | ---
|  | Operating Income Before Amortization |  | Non-Cash Compensation Expense |  | Amortization of Intangibles |  | Operating Income (Loss) |
|  | (In thousands) |
Search & Applications |  | $ | 204,980 |  | $ | 202 |  | $ | (1,176 | ) | $ | 204,006 |
Match |  |  | 156,274 |  |  | (1,642 | ) |  | (17,077 | ) |  | 137,555 |
Local |  |  | 28,284 |  |  | — |  |  | (2,751 | ) |  | 25,533 |
Media |  |  | (15,845 | ) |  | (427 | ) |  | (3 | ) |  | (16,275 | )
Other |  |  | (2,499 | ) |  | (347 | ) |  | (1,050 | ) |  | (3,896 | )
Corporate |  |  | (62,787 | ) |  | (86,374 | ) |  | — |  |  | (149,161 | )
Total |  | $ | 308,407 |  | $ | (88,588 | ) | $ | (22,057 | ) | $ | 197,762 |
|  | Year Ended December 31, 2010 |
--- | --- | --- | ---
|  | Operating Income Before Amortization |  | Non-Cash Compensation Expense |  | Amortization of Intangibles |  | Goodwill Impairment |  | Operating Income (Loss) |
|  | (In thousands) |
Search & Applications |  | $ | 140,792 |  | $ | (630 | ) | $ | (11,806 | ) | $ | — |  | $ | 128,356 |
Match |  |  | 122,057 |  |  | 153 |  |  | (6,843 | ) |  | — |  |  | 115,367 |
Local |  |  | 10,671 |  |  | — |  |  | (2,266 | ) |  | — |  |  | 8,405 |
Media |  |  | (21,849 | ) |  | (458 | ) |  | (1,078 | ) |  | — |  |  | (23,385 | )
Other |  |  | 2,091 |  |  | (180 | ) |  | (5,479 | ) |  | (28,032 | ) |  | (31,600 | )
Corporate |  |  | (64,183 | ) |  | (83,165 | ) |  | — |  |  | — |  |  | (147,348 | )
Total |  | $ | 189,579 |  | $ | (84,280 | ) | $ | (27,472 | ) | $ | (28,032 | ) | $ | 49,795 |
|  | Year Ended December 31, 2009 |
--- | --- | --- | ---
|  | Operating Income Before Amortization |  | Non-Cash Compensation Expense |  | Amortization of Intangibles |  | Amortization of Non-Cash Marketing |  | Goodwill Impairment |  | Operating (Loss) Income |
|  | (In thousands) |
Search & Applications |  | $ | 103,856 |  | $ | (663 | ) | $ | (147,488 | ) | $ | (6,494 | ) | $ | (916,868 | ) | $ | (967,657 | )
Match |  |  | 94,124 |  |  | (154 | ) |  | (4,940 | ) |  | (4,375 | ) |  | — |  |  | 84,655 |
Local |  |  | 12,357 |  |  | (150 | ) |  | (3,234 | ) |  | (4,999 | ) |  | — |  |  | 3,974 |
Media |  |  | (15,518 | ) |  | (226 | ) |  | (317 | ) |  | — |  |  | — |  |  | (16,061 | )
Other |  |  | (7,493 | ) |  | (620 | ) |  | (1,052 | ) |  | — |  |  | — |  |  | (9,165 | )
Corporate |  |  | (65,465 | ) |  | (68,268 | ) |  | — |  |  | — |  |  | — |  |  | (133,733 | )
Total |  | $ | 121,861 |  | $ | (70,081 | ) | $ | (157,031 | ) | $ | (15,868 | ) | $ | (916,868 | ) | $ | (1,037,987 | )
The following tables reconcile segment assets to total assets:
|  | December 31, 2011 |
--- | --- | --- | ---
|  | Segment Assets |  | Goodwill |  | Indefinite-Lived Intangible Assets |  | Definite-Lived Intangible Assets |  | Total Assets |
|  | (In thousands) |
Search & Applications |  | $ | 246,459 |  | $ | 526,444 |  | $ | 163,604 |  | $ | 6 |  | $ | 936,513 |
Match |  |  | 190,338 |  |  | 667,073 |  |  | 156,699 |  |  | 21,501 |  |  | 1,035,611 |
Local |  |  | 46,581 |  |  | 127,698 |  |  | 18,205 |  |  | 1,293 |  |  | 193,777 |
Media |  |  | 25,429 |  |  | 15,590 |  |  | 1,800 |  |  | — |  |  | 42,819 |
Other |  |  | 15,910 |  |  | 21,719 |  |  | 11,180 |  |  | 3,819 |  |  | 52,628 |
Corporate(c) |  |  | 1,148,517 |  |  | — |  |  | — |  |  | — |  |  | 1,148,517 |
Total |  | $ | 1,673,234 |  | $ | 1,358,524 |  | $ | 351,488 |  | $ | 26,619 |  | $ | 3,409,865 |
|  | December 31, 2010 |
--- | --- | --- | ---
|  | Segment Assets |  | Goodwill |  | Indefinite-Lived Intangible Assets |  | Definite-Lived Intangible Assets |  | Total Assets |
|  | (In thousands) |
Search & Applications |  | $ | 260,288 |  | $ | 526,681 |  | $ | 163,604 |  | $ | 1,181 |  | $ | 951,754 |
Match(d) |  |  | 196,177 |  |  | 297,974 |  |  | 42,118 |  |  | 979 |  |  | 537,248 |
Local |  |  | 42,473 |  |  | 127,367 |  |  | 17,719 |  |  | 4,005 |  |  | 191,564 |
Media |  |  | 23,252 |  |  | 15,759 |  |  | 2,400 |  |  | 20 |  |  | 41,431 |
Other |  |  | 13,191 |  |  | 21,712 |  |  | 11,180 |  |  | 1,838 |  |  | 47,921 |
Corporate(c) |  |  | 1,559,161 |  |  | — |  |  | — |  |  | — |  |  | 1,559,161 |
Total |  | $ | 2,094,542 |  | $ | 989,493 |  | $ | 237,021 |  | $ | 8,023 |  | $ | 3,329,079 |
(c) Corporate assets consist primarily of cash and cash equivalents, marketable securities and IAC's headquarters building. (d) Included in the segment assets of Match at December 31, 2010 is its investment in Meetic, which was accounted for as an equity method investment. During the third quarter of 2011, Match obtained a controlling financial interest in Meetic. Accordingly, this purchase was accounted for under the acquisition method of accounting.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
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