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SEGMENT INFORMATION | 9 Months Ended
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Sep. 30, 2020
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The overall concept that the Company employs in determining its operating segments is to present the financial information in a manner consistent with: how the chief operating decision maker views the businesses; how the businesses are organized as to segment management; and the focus of the businesses with regards to the target market. The following table presents revenue by reportable segment:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
| (In thousands)
Revenue: |  |  |  |  |  |  |
North America | $ | 372,226 |  |  | $ | 339,144 |  |  | $ | 1,053,775 |  |  | $ | 945,538 |
Europe | 17,687 |  |  | 18,214 |  |  | 54,849 |  |  | 59,159 |
Total | $ | 389,913 |  |  | $ | 357,358 |  |  | $ | 1,108,624 |  |  | $ | 1,004,697 |
The following table presents the revenue of the Company's segments disaggregated by type of service:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
| (In thousands)
North America |  |  |  |  |  |  |
Marketplace: |  |  |  |  |  |  |
Consumer connection revenue(a) | $ | 287,568 |  |  | $ | 252,552 |  |  | $ | 800,047 |  |  | $ | 695,370 |
Service professional membership subscription revenue | 12,195 |  |  | 15,995 |  |  | 38,989 |  |  | 48,697 |
Other revenue | 6,944 |  |  | 4,915 |  |  | 19,620 |  |  | 11,186 |
Total Marketplace revenue | 306,707 |  |  | 273,462 |  |  | 858,656 |  |  | 755,253 |
Advertising and other revenue(b) | 65,519 |  |  | 65,682 |  |  | 195,119 |  |  | 190,285 |
Total North America revenue | 372,226 |  |  | 339,144 |  |  | 1,053,775 |  |  | 945,538 |
Europe |  |  |  |  |  |  |
Consumer connection revenue(c) | 14,006 |  |  | 14,125 |  |  | 43,640 |  |  | 46,480 |
Service professional membership subscription revenue | 3,278 |  |  | 3,465 |  |  | 9,792 |  |  | 10,820 |
Advertising and other revenue | 403 |  |  | 624 |  |  | 1,417 |  |  | 1,859 |
Total Europe revenue | 17,687 |  |  | 18,214 |  |  | 54,849 |  |  | 59,159 |
Total revenue | $ | 389,913 |  |  | $ | 357,358 |  |  | $ | 1,108,624 |  |  | $ | 1,004,697 |
________________________ (a) Includes fees paid by service professionals for consumer matches and revenue from pre-priced jobs sourced through the HomeAdvisor and Handy platforms. (b) Includes Angie's List revenue from service professionals under contract for advertising and Angie's List membership subscription fees from consumers, as well as revenue from mHelpDesk and HomeStars. (c) Includes fees paid by service professionals for consumer matches. Revenue by geography is based on where the customer is located. Geographic information about revenue and long-lived assets is presented below.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
| (In thousands)
Revenue: |  |  |  |  |  |  |
United States | $ | 368,082 |  |  | $ | 335,230 |  |  | $ | 1,041,903 |  |  | $ | 934,409 |
All other countries | 21,831 |  |  | 22,128 |  |  | 66,721 |  |  | 70,288 |
Total | $ | 389,913 |  |  | $ | 357,358 |  |  | $ | 1,108,624 |  |  | $ | 1,004,697 |
| September 30, 2020 |  | December 31, 2019
| (In thousands)
Long-lived assets (excluding goodwill, intangible assets and ROU assets): |  |  |
United States | $ | 94,341 |  |  | $ | 95,822 |
All other countries | 9,982 |  |  | 7,539 |
Total | $ | 104,323 |  |  | $ | 103,361 |
The following tables present operating income (loss) and Adjusted EBITDA by reportable segment:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
| (In thousands)
Operating income (loss): |  |  |  |  |  |  |
North America | $ | 295 |  |  | $ | 27,194 |  |  | $ | 8,377 |  |  | $ | 40,409 |
Europe | (3,314) |  |  | (2,468) |  |  | (10,048) |  |  | (7,921) |
Total | $ | (3,019) |  |  | $ | 24,726 |  |  | $ | (1,671) |  |  | $ | 32,488 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
| (In thousands)
Adjusted EBITDA(d): |  |  |  |  |  |  |
North America | $ | 40,454 |  |  | $ | 60,509 |  |  | $ | 136,886 |  |  | $ | 151,804 |
Europe | $ | (1,967) |  |  | $ | (1,586) |  |  | $ | (6,066) |  |  | $ | (4,270) |
________________________ (d) The Company’s primary financial measure is Adjusted EBITDA, which is defined as operating income excluding: (1) stock-based compensation expense; (2) depreciation; and (3) acquisition-related items consisting of amortization of intangible assets and impairments of goodwill and intangible assets, if applicable. The Company believes this measure is useful for analysts and investors as this measure allows a more meaningful comparison between the Company's performance and that of its competitors. The above items are excluded from the Company's Adjusted EBITDA measure because these items are non-cash in nature. Adjusted EBITDA has certain limitations because it excludes the impact of these expenses. The following tables reconcile operating income (loss) for the Company’s reportable segments and net earnings attributable to ANGI Homeservices Inc. shareholders to Adjusted EBITDA:
| Three Months Ended September 30, 2020
| Operating Income (Loss) |  | Stock-based Compensation Expense |  | Depreciation |  | Amortization of Intangibles |  | Adjusted EBITDA
| (In thousands)
North America | $ | 295 |  |  | $ | 14,599 |  |  | $ | 12,767 |  |  | $ | 12,793 |  |  | $ | 40,454 |
Europe | (3,314) |  |  | $ | 98 |  |  | $ | 1,154 |  |  | $ | 95 |  |  | $ | (1,967) |
Operating loss | (3,019) |  |  |  |  |  |  |  |  |
Interest expense | (3,699) |  |  |  |  |  |  |  |  |
Other income, net | 223 |  |  |  |  |  |  |  |  |
Loss before income taxes | (6,495) |  |  |  |  |  |  |  |  |
Income tax benefit | 11,698 |  |  |  |  |  |  |  |  |
Net earnings | 5,203 |  |  |  |  |  |  |  |  |
Net earnings attributable to noncontrolling interests | (731) |  |  |  |  |  |  |  |  |
Net earnings attributable to ANGI Homeservices Inc. shareholders | $ | 4,472 |  |  |  |  |  |  |  |  |
| Three Months Ended September 30, 2019
| Operating Income (Loss) |  | Stock-based Compensation Expense |  | Depreciation |  | Amortization of Intangibles |  | Adjusted EBITDA
| (In thousands)
North America | $ | 27,194 |  |  | $ | 8,648 |  |  | $ | 10,690 |  |  | $ | 13,977 |  |  | $ | 60,509 |
Europe | (2,468) |  |  | $ | 136 |  |  | $ | 554 |  |  | $ | 192 |  |  | $ | (1,586) |
Operating income | 24,726 |  |  |  |  |  |  |  |  |
Interest expense | (3,007) |  |  |  |  |  |  |  |  |
Other income, net | 1,505 |  |  |  |  |  |  |  |  |
Earnings before income taxes | 23,224 |  |  |  |  |  |  |  |  |
Income tax provision | (4,900) |  |  |  |  |  |  |  |  |
Net earnings | 18,324 |  |  |  |  |  |  |  |  |
Net earnings attributable to noncontrolling interests | (325) |  |  |  |  |  |  |  |  |
Net earnings attributable to ANGI Homeservices Inc. shareholders | $ | 17,999 |  |  |  |  |  |  |  |  |
| Nine Months Ended September 30, 2020
| Operating Income (loss) |  | Stock-based Compensation Expense |  | Depreciation |  | Amortization of Intangibles |  | Adjusted EBITDA
| (In thousands)
North America | $ | 8,377 |  |  | $ | 54,406 |  |  | $ | 35,531 |  |  | $ | 38,572 |  |  | $ | 136,886 |
Europe | (10,048) |  |  | $ | 625 |  |  | $ | 3,083 |  |  | $ | 274 |  |  | $ | (6,066) |
Operating loss | (1,671) |  |  |  |  |  |  |  |  |
Interest expense | (7,593) |  |  |  |  |  |  |  |  |
Other income, net | 856 |  |  |  |  |  |  |  |  |
Loss before income taxes | (8,408) |  |  |  |  |  |  |  |  |
Income tax benefit | 17,638 |  |  |  |  |  |  |  |  |
Net earnings | 9,230 |  |  |  |  |  |  |  |  |
Net earnings attributable to noncontrolling interests | (1,049) |  |  |  |  |  |  |  |  |
Net earnings attributable to ANGI Homeservices Inc. shareholders | $ | 8,181 |  |  |  |  |  |  |  |  |
| Nine Months Ended September 30, 2019
| Operating Income (Loss) |  | Stock-based Compensation Expense |  | Depreciation |  | Amortization of Intangibles |  | Adjusted EBITDA
| (In thousands)
North America | $ | 40,409 |  |  | $ | 45,107 |  |  | $ | 25,124 |  |  | $ | 41,164 |  |  | $ | 151,804 |
Europe | (7,921) |  |  | $ | 479 |  |  | $ | 1,915 |  |  | $ | 1,257 |  |  | $ | (4,270) |
Operating income | 32,488 |  |  |  |  |  |  |  |  |
Interest expense | (8,964) |  |  |  |  |  |  |  |  |
Other income, net | 4,823 |  |  |  |  |  |  |  |  |
Earnings before income taxes | 28,347 |  |  |  |  |  |  |  |  |
Income tax benefit | 7,062 |  |  |  |  |  |  |  |  |
Net earnings | 35,409 |  |  |  |  |  |  |  |  |
Net earnings attributable to noncontrolling interests | (473) |  |  |  |  |  |  |  |  |
Net earnings attributable to ANGI Homeservices Inc. shareholders | $ | 34,936 |  |  |  |  |  |  |  |  |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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