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CONSOLIDATED FINANCIAL STATEMENT DETAILS | 3 Months Ended
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Mar. 31, 2021
Vimeo Inc. |
Consolidated Financial Statement Details [Line Items] |
CONSOLIDATED FINANCIAL STATEMENT DETAILS | CONSOLIDATED FINANCIAL STATEMENT DETAILS Cash and Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheet to the total amounts shown in the consolidated statement of cash flows:
| March 31, 2021 |  | December 31, 2020 |  | March 31, 2020 |  | December 31, 2019
| (In thousands)
Cash and cash equivalents | $ | 316,305 |  |  | $ | 110,011 |  |  | $ | 3,245 |  |  | $ | 1,939 |
Restricted cash included in other current assets | 223 |  |  | 26 |  |  | 22 |  |  | 24 |
Total cash and cash equivalents and restricted cash as shown on the consolidated statement of cash flows | $ | 316,528 |  |  | $ | 110,037 |  |  | $ | 3,267 |  |  | $ | 1,963 |
Restricted cash at March 31, 2021 primarily consists of a deposit related to a lease. Restricted cash for all other periods primarily consists of a deposit related to corporate credit cards. Credit Losses The following table presents the changes in the allowance for credit losses for the three months ended March 31, 2021 and 2020, respectively:
| 2021 |  | 2020
| (In thousands)
Balance at January 1 | $ | 476 |  |  | $ | 273 |
Current period provision for credit losses | 82 |  |  | 824 |
Write-offs charged against the allowance | (58) |  |  | (251) |
Balance at March 31 | $ | 500 |  |  | $ | 846 |
Accumulated Amortization and Depreciation The following table provides the accumulated amortization and depreciation within the consolidated balance sheet:
Asset Category | March 31, 2021 |  | December 31, 2020
| (In thousands)
Right-of-use assets included in other non-current assets | $ | 4,899 |  |  | $ | 4,727 |
Leasehold improvements and equipment | $ | 822 |  |  | $ | 712 |
Intangible assets with definite lives | $ | 35,733 |  |  | $ | 33,846 |
Other income (expense), net
|  |  | Three Months Ended March 31,
|  |  |  |  | 2021 |  | 2020
|  |  |  |  | (In thousands)
Other income (expense), net |  |  |  |  | $ | 10,086 |  |  | $ | (59) |
Other income, net in 2021 includes a gain of $10.2 million related to the sale of Vimeo’s retained interest in its former hardware business. Vimeo previously sold live streaming devices and accessories through its hardware business. Vimeo retained an interest in its former hardware business after it sold a majority stake on March 29, 2019 that provided it with rights to participate in and receive distributions in the event of positive cash flows or proceeds should there be another sale of the business. In the first quarter of 2021, the former hardware business, inclusive of Vimeo's retained interest, was sold and a gain was recognized. This gain includes amounts received in the first quarter of 2021 and funds held in escrow. Vimeo may receive additional consideration based on the revenue of its former hardware business relative to established targets through December 31, 2021. Such amounts will be recognized as income only if, and at the point in time, any additional consideration is received, or it is probable that additional consideration will be received. Other expense, net in 2020 reflects $0.1 million of net foreign exchange losses. Geographic Concentrations 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 March 31,
|  |  |  |  | 2021 |  | 2020
|  |  |  |  | (In thousands)
Revenue: |  |  |  |  |  |  |
United States |  |  |  |  | $ | 48,141 |  |  | $ | 29,612 |
All other countries |  |  |  |  | 41,281 |  |  | 27,356 |
Total |  |  |  |  | $ | 89,422 |  |  | $ | 56,968 |
The United States is the only country whose revenue is greater than 10 percent of total revenue of Vimeo for the three months ended March 31, 2021 and 2020.
| March 31, 2021 |  | December 31, 2020
| (In thousands)
Long-lived assets (excluding goodwill, intangible assets with definite lives and ROU assets):
United States | $ | 2,465 |  |  | $ | 2,549 |
All other countries | 855 |  |  | 772 |
Total | $ | 3,320 |  |  | $ | 3,321 |

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