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SEGMENT INFORMATION | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The overall concept that ANGI 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 types of services or products offered or the target market. The following table presents revenue by reportable segment:
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
| (In thousands)
Revenue: |  |  |  |  |
North America | $ | 1,395,428 |  |  | $ | 1,249,892 |  |  | $ | 1,062,171 |
Europe | 72,497 |  |  | 76,313 |  |  | 70,070 |
Total | $ | 1,467,925 |  |  | $ | 1,326,205 |  |  | $ | 1,132,241 |
The following table presents the revenue of the Company’s segments disaggregated by type of service:
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
| (In thousands)
North America |  |  |  |  |
Marketplace: |  |  |  |  |
Consumer connection revenue(a) | $ | 1,054,660 |  |  | $ | 913,533 |  |  | $ | 704,341 |
Service professional membership subscription revenue | 50,975 |  |  | 63,872 |  |  | 66,214 |
Other revenue | 25,685 |  |  | 15,263 |  |  | 3,940 |
Total Marketplace revenue | 1,131,320 |  |  | 992,668 |  |  | 774,495 |
Advertising and other revenue(b) | 264,108 |  |  | 257,224 |  |  | 287,676 |
Total North America revenue | 1,395,428 |  |  | 1,249,892 |  |  | 1,062,171 |
Europe |  |  |  |  |
Consumer connection revenue(c) | 57,692 |  |  | 59,611 |  |  | 50,913 |
Service professional membership subscription revenue | 13,091 |  |  | 14,231 |  |  | 17,362 |
Advertising and other revenue | 1,714 |  |  | 2,471 |  |  | 1,795 |
Total Europe revenue | 72,497 |  |  | 76,313 |  |  | 70,070 |
Total revenue | $ | 1,467,925 |  |  | $ | 1,326,205 |  |  | $ | 1,132,241 |
___________________________ (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, HomeStars and Felix. Felix was sold on December 31, 2018 and its revenue for the year ended December 31, 2018 was $36.9 million. (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:
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
| (In thousands)
Revenue: |  |  |  |  |
United States | $ | 1,379,236 |  |  | $ | 1,234,755 |  |  | $ | 1,050,641 |
All other countries | 88,689 |  |  | 91,450 |  |  | 81,600 |
Total | $ | 1,467,925 |  |  | $ | 1,326,205 |  |  | $ | 1,132,241 |
The United States is the only country whose revenue is greater than 10% of total revenue of the Company for the years ended December 31, 2020, 2019 and 2018.
| December 31,
| 2020 |  | 2019
| (In thousands)
Long-lived assets (excluding goodwill and intangible assets): |  |  |
United States | $ | 97,841 |  |  | $ | 95,822 |
All other countries | 11,001 |  |  | 7,539 |
Total | $ | 108,842 |  |  | $ | 103,361 |
The following tables present operating income (loss) and Adjusted EBITDA by reportable segment:
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
| (In thousands)
Operating income (loss): |  |  |  |  |
North America | $ | 4,811 |  |  | $ | 48,967 |  |  | $ | 78,102 |
Europe | (11,179) |  |  | (10,322) |  |  | (14,196) |
Total | $ | (6,368) |  |  | $ | 38,645 |  |  | $ | 63,906 |
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
| (In thousands)
Adjusted EBITDA(d): |  |  |  |  |
North America | $ | 178,854 |  |  | $ | 208,192 |  |  | $ | 253,963 |
Europe | $ | (6,050) |  |  | $ | (5,895) |  |  | $ | (6,457) |
___________________________ (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 our performance and that of our competitors. The above items are excluded from our 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 (loss) earnings attributable to ANGI Homeservices Inc. shareholders to Adjusted EBITDA:
| Year Ended December 31, 2020
| Operating Income (Loss) |  | Stock-Based Compensation Expense |  | Depreciation |  | Amortization of Intangibles |  | Adjusted EBITDA
| (In thousands)
North America | $ | 4,811 |  |  | $ | 82,933 |  |  | $ | 48,515 |  |  | $ | 42,595 |  |  | $ | 178,854 |
Europe | (11,179) |  |  | $ | 716 |  |  | $ | 4,106 |  |  | $ | 307 |  |  | $ | (6,050) |
Operating (loss) | (6,368) |  |  |  |  |  |  |  |  |
Interest expense | (14,178) |  |  |  |  |  |  |  |  |
Other income, net | 1,218 |  |  |  |  |  |  |  |  |
Earnings before income taxes | (19,328) |  |  |  |  |  |  |  |  |
Income tax benefit | 15,168 |  |  |  |  |  |  |  |  |
Net loss | (4,160) |  |  |  |  |  |  |  |  |
Net earnings attributable to noncontrolling interests | (2,123) |  |  |  |  |  |  |  |  |
Net loss attributable to ANGI Homeservices Inc. shareholders | $ | (6,283) |  |  |  |  |  |  |  |  |
| Year Ended December 31, 2019
| Operating Income (Loss) |  | Stock-Based Compensation Expense |  | Depreciation |  | Amortization of Intangibles |  | Adjusted EBITDA
| (In thousands)
North America | $ | 48,967 |  |  | $ | 67,646 |  |  | $ | 37,481 |  |  | $ | 54,098 |  |  | $ | 208,192 |
Europe | (10,322) |  |  | $ | 609 |  |  | $ | 2,434 |  |  | $ | 1,384 |  |  | $ | (5,895) |
Operating income | 38,645 |  |  |  |  |  |  |  |  |
Interest expense | (11,493) |  |  |  |  |  |  |  |  |
Other income, net | 6,494 |  |  |  |  |  |  |  |  |
Earnings before income taxes | 33,646 |  |  |  |  |  |  |  |  |
Income tax benefit | 1,668 |  |  |  |  |  |  |  |  |
Net earnings | 35,314 |  |  |  |  |  |  |  |  |
Net earnings attributable to noncontrolling interests | (485) |  |  |  |  |  |  |  |  |
Net earnings attributable to ANGI Homeservices Inc. shareholders | $ | 34,829 |  |  |  |  |  |  |  |  |
| Year Ended December 31, 2018
| Operating Income (Loss) |  | Stock-Based Compensation Expense |  | Depreciation |  | Amortization of Intangibles |  | Adjusted EBITDA
| (In thousands)
North America | $ | 78,102 |  |  | $ | 96,078 |  |  | $ | 21,888 |  |  | $ | 57,895 |  |  | $ | 253,963 |
Europe | (14,196) |  |  | $ | 1,000 |  |  | $ | 2,422 |  |  | $ | 4,317 |  |  | $ | (6,457) |
Operating income | 63,906 |  |  |  |  |  |  |  |  |
Interest expense | (11,623) |  |  |  |  |  |  |  |  |
Other income, net | 17,741 |  |  |  |  |  |  |  |  |
Earnings before income taxes | 70,024 |  |  |  |  |  |  |  |  |
Income tax benefit | 7,483 |  |  |  |  |  |  |  |  |
Net earnings | 77,507 |  |  |  |  |  |  |  |  |
Net earnings attributable to noncontrolling interests | (189) |  |  |  |  |  |  |  |  |
Net earnings attributable to ANGI Homeservices Inc. shareholders | $ | 77,318 |  |  |  |  |  |  |  |  |
The following table presents capital expenditures by reportable segment:
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
| (In thousands)
Capital expenditures: |  |  |  |  |
North America | $ | 50,462 |  |  | $ | 64,215 |  |  | $ | 42,976 |
Europe | 2,026 |  |  | 4,589 |  |  | 4,000 |
Total | $ | 52,488 |  |  | $ | 68,804 |  |  | $ | 46,976 |

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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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