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Segment Information | 9 Months Ended
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Sep. 30, 2020
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company's internal financial reporting and management structure is focused on the major types of services it provides. The Company manages operations using two operating segments which are also its reportable segments: (1) Marketing Services and (2) SaaS. During the nine months ended September 30, 2020, the Company adjusted its methodology of allocating certain costs between its reportable segments. The current and prior year to date periods reflect the current allocation methodology. The following tables summarize the operating results of our reportable segments (in thousands):
| Three Months Ended September 30, 2020
| Marketing Services |  | SaaS |  | Total
Revenue | $ | 208,504 |  |  | $ | 31,821 |  |  | $ | 240,325 |
Segment EBITDA | 66,733 |  |  | 2,561 |  |  | 69,294 |
| Three Months Ended September 30, 2019
| Marketing Services |  | SaaS |  | Total
Revenue | $ | 287,794 |  |  | $ | 31,322 |  |  | $ | 319,116 |
Segment EBITDA | 96,448 |  |  | 1,830 |  |  | 98,278 |
| Nine Months Ended September 30, 2020
| Marketing Services |  | SaaS |  | Total
Revenue | $ | 767,553 |  |  | $ | 94,954 |  |  | $ | 862,507 |
Segment EBITDA | 289,423 |  |  | 10,785 |  |  | 300,208 |
| Nine Months Ended September 30, 2019
| Marketing Services |  | SaaS |  | Total
Revenue | $ | 980,072 |  |  | $ | 96,172 |  |  | $ | 1,076,244 |
Segment EBITDA | 347,178 |  |  | 11,568 |  |  | 358,746 |
A reconciliation of total Segment EBITDA to the Company’s Income (loss) before (provision) benefit for income taxes is as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Total Segment EBITDA | $ | 69,294 |  |  | $ | 98,278 |  |  | $ | 300,208 |  |  | $ | 358,746 |
Impact of ASC 842 | — |  |  | 62 |  |  | — |  |  | 382 |
Interest expense | (15,609) |  |  | (23,666) |  |  | (53,551) |  |  | (71,068) |
Depreciation and amortization | (35,454) |  |  | (50,471) |  |  | (110,883) |  |  | (155,285) |
Other components of net periodic pension cost | (30,175) |  |  | (16,111) |  |  | (31,312) |  |  | (19,797) |
(Loss) on early extinguishment of debt | — |  |  | — |  |  | — |  |  | (6,375) |
Impairment charges | (1,184) |  |  | (60) |  |  | (19,414) |  |  | (5,059) |
Restructuring and integration expenses (1) | (6,710) |  |  | (8,288) |  |  | (23,902) |  |  | (31,192) |
Transaction costs (2) | (4,913) |  |  | (143) |  |  | (14,679) |  |  | (143) |
Stock-based compensation (expense) benefit | (1,289) |  |  | 4,863 |  |  | 4,195 |  |  | (9,536) |
Gain (loss) from remeasurement of indemnification asset | 540 |  |  | (3,736) |  |  | (3,878) |  |  | (4,646) |
Other | 1,105 |  |  | 410 |  |  | 2,960 |  |  | 390 |
(Loss) income before benefit (provision) for income taxes | $ | (24,395) |  |  | $ | 1,138 |  |  | $ | 49,744 |  |  | $ | 56,417 |
(1)For the three months ended September 30, 2020, the Company incurred $3.3 million of severance expense, of which none was a result of the COVID-19 pandemic. For the nine months ended September 30, 2020, the Company incurred $10.6 million of severance expense, of which $5.0 million was a result of the COVID-19 pandemic, as discussed in Note 6. In addition, the Company incurred losses on disposal of fixed assets and capitalized software and costs associated with abandoned facilities and system consolidation. (2)Consists of direct listing and other transaction cost s. The following table sets forth the Company's disaggregation of revenue based on services for the periods indicated (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Marketing Services |  |  |  |  |  |  |
PYP | $ | 79,395 |  |  | $ | 120,977 |  |  | $ | 355,942 |  |  | $ | 452,098 |
IYP | 68,169 |  |  | 82,385 |  |  | 212,436 |  |  | 257,977 |
SEM | 40,247 |  |  | 56,700 |  |  | 130,905 |  |  | 179,143 |
Other | 20,693 |  |  | 27,732 |  |  | 68,270 |  |  | 90,854 |
Total Marketing Services | 208,504 |  |  | 287,794 |  |  | 767,553 |  |  | 980,072 |
SaaS |  |  |  |  |  |  |
Thryv Platform | 22,324 |  |  | 22,829 |  |  | 67,518 |  |  | 72,877 |
Thryv Leads and Add-ons | 9,497 |  |  | 8,493 |  |  | 27,436 |  |  | 23,295 |
Total SaaS | 31,821 |  |  | 31,322 |  |  | 94,954 |  |  | 96,172 |
Total Revenue | $ | 240,325 |  |  | $ | 319,116 |  |  | $ | 862,507 |  |  | $ | 1,076,244 |

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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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