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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2021
SEGMENT INFORMATION [Abstract] |
Segment operating information by segment | The following tables present summary information by segment (in thousands):
|  | Year Ended December 31, 2019 |
|  | Sohu |  |  | Changyou |  |  | Eliminations |  |  | Consolidated |
Revenues |  | $ | 218,442 |  |  | $ | 455,380 |  |  | $ | (19 | ) |  | $ | 673,803 |
Segment cost of revenues (1) |  |  | (148,258 | ) |  |  | (95,268 | ) |  |  | 21 |  |  |  | (243,505 | )
Segment gross profit |  |  | 70,184 |  |  |  | 360,112 |  |  |  | 2 |  |  |  | 430,298 |
SBC in cost of revenues (2) |  |  | (23 | ) |  |  | (120 | ) |  |  | 1 |  |  |  | (142 | )
Gross profit |  |  | 70,161 |  |  |  | 359,992 |  |  |  | 3 |  |  |  | 430,156 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product development (1) |  |  | (113,761 | ) |  |  | (119,726 | ) |  |  | 0 |  |  |  | (233,487 | )
Sales and marketing (1) |  |  | (155,226 | ) |  |  | (49,768 | ) |  |  | 2 |  |  |  | (204,992 | )
General and administrative (1) |  |  | (31,330 | ) |  |  | (22,074 | ) |  |  | (17 | ) |  |  | (53,421 | )
Goodwill impairment and impairment of intangible assets acquired as part of business acquisitions |  |  | (7,245 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (7,245 | )
SBC in operating expenses (2) |  |  | (1,023 | ) |  |  | (1,185 | ) |  |  | 0 |  |  |  | (2,208 | )
Total operating expenses |  |  | (308,585 | ) |  |  | (192,753 | ) |  |  | (15 | ) |  |  | (501,353 | )
Operating profit/(loss) |  |  | (238,424 | ) |  |  | 167,239 |  |  |  | (12 | ) |  |  | (71,197 | )
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,963 |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,103 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (14,370 | )
Exchange difference |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,430 |
Loss before income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (70,071 | )
Income tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (28,428 | )
Net loss from continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (98,499 | )
Net income from discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 55,108 |
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (43,391 | )
Note (1): Total depreciation and amortization expenses of Sohu and Changyou were $50.7 million and $16.4 million, respectively, for the year ended December 31, 2019. Note (2): “SBC” stands for share-based compensation expense.
|  | Year Ended December 31, 2020 |
|  | Sohu |  |  | Changyou |  |  | Eliminations |  |  | Consolidated |
Revenues |  | $ | 201,544 |  |  | $ | 548,346 |  |  | $ | 0 |  |  | $ | 749,890 |
Segment cost of revenues (1) |  |  | (122,362 | ) |  |  | (94,362 | ) |  |  | 7 |  |  |  | (216,717 | )
Segment gross profit |  |  | 79,182 |  |  |  | 453,984 |  |  |  | 7 |  |  |  | 533,173 |
SBC in cost of revenues (2) |  |  | (177 | ) |  |  | (543 | ) |  |  | 0 |  |  |  | (720 | )
Gross profit |  |  | 79,005 |  |  |  | 453,441 |  |  |  | 7 |  |  |  | 532,453 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product development (1) |  |  | (97,681 | ) |  |  | (136,934 | ) |  |  | 0 |  |  |  | (234,615 | )
Sales and marketing (1) |  |  | (106,057 | ) |  |  | (53,272 | ) |  |  | 0 |  |  |  | (159,329 | )
General and administrative (1) |  |  | (25,861 | ) |  |  | (25,517 | ) |  |  | 0 |  |  |  | (51,378 | )
SBC in operating expenses (2) |  |  | (1,759 | ) |  |  | (12,001 | ) |  |  | 0 |  |  |  | (13,760 | )
Total operating expenses |  |  | (231,358 | ) |  |  | (227,724 | ) |  |  | 0 |  |  |  | (459,082 | )
Operating profit/(loss) |  |  | (152,353 | ) |  |  | 225,717 |  |  |  | 7 |  |  |  | 73,371 |
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 25,993 |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,369 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,234 | )
Exchange difference |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,800 | )
Loss before income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 96,699 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (133,226 | )
Net loss from continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (36,527 | )
Net income from discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (91,793 | )
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (128,320 | )
Note (1): Total depreciation and amortization expenses of Sohu and Changyou were $26.4 million and $13.5 million, respectively, for the year ended December 31, 2020. Note (2): “SBC” stands for share-based compensation expense.
|  | Year Ended December 31, 2021 |
|  | Sohu |  |  | Changyou |  |  | Eliminations |  |  | Consolidated |
Revenues |  | $ | 186,606 |  |  | $ | 648,970 |  |  | $ | 0 |  |  | $ | 835,576 |
Segment cost of revenues (1) |  |  | (113,881 | ) |  |  | (90,517 | ) |  |  | 4 |  |  |  | (204,394 | )
Segment gross profit |  |  | 72,725 |  |  |  | 558,453 |  |  |  | 4 |  |  |  | 631,182 |
SBC in cost of revenues (2) |  |  | (1 | ) |  |  | (276 | ) |  |  | 0 |  |  |  | (277 | )
Gross profit |  |  | 72,724 |  |  |  | 558,177 |  |  |  | 4 |  |  |  | 630,905 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product development (1) |  |  | (113,186 | ) |  |  | (151,773 | ) |  |  | 0 |  |  |  | (264,959 | )
Sales and marketing (1) |  |  | (126,126 | ) |  |  | (56,396 | ) |  |  | 0 |  |  |  | (182,522 | )
General and administrative (1) |  |  | (36,949 | ) |  |  | (40,702 | ) |  |  | 0 |  |  |  | (77,651 | )
SBC in operating expenses (2) |  |  | (804 | ) |  |  | (7,497 | ) |  |  | 0 |  |  |  | (8,301 | )
Total operating expenses |  |  | (277,065 | ) |  |  | (256,368 | ) |  |  | 0 |  |  |  | (533,433 | )
Operating profit/(loss) |  |  | (204,341 | ) |  |  | 301,809 |  |  |  | 4 |  |  |  | 97,472 |
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 29,416 |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 15,641 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,500 | )
Exchange difference |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,462 | )
Income before income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 131,567 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (62,296 | )
Net loss from continuing operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 69,271 |
Net loss from discontinued operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 864,902 |
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 934,173 |
Note (1): Total depreciation and amortization expenses of Sohu and Changyou were $23.4 million and $12.6 million, respectively, for the year ended December 31, 2021. Note (2): “SBC” stands for share-based compensation expense.
Segment assets information by segment |
|  | As of December 31, 2020 |
|  | Sohu |  |  | Changyou |  |  | Eliminations |  |  | Consolidated |
Cash and cash equivalents |  | $ | 56,977 |  |  | $ | 160,080 |  |  | $ | 0 |  |  | $ | 217,057 |
Accounts receivable, net |  |  | 60,886 |  |  |  | 26,635 |  |  |  | 0 |  |  |  | 87,521 |
Fixed assets, net |  |  | 174,700 |  |  |  | 162,976 |  |  |  | (2 | ) |  |  | 337,674 |
Total assets (1) |  | $ | 1,632,736 |  |  | $ | 2,478,705 |  |  | $ | (2,701,488 | ) |  | $ | 1,409,953 |
Note (1): The elimination for segment assets mainly consists of elimination of intra-Group loans between Sohu and Changyou, and elimination of long-term investments in subsidiaries and consolidated VIEs.
|  | As of December 31, 202 1 |
|  | Sohu |  |  | Changyou |  |  | Eliminations |  |  | Consolidated |
Cash and cash equivalents |  | $ | 929,851 |  |  | $ | 69,098 |  |  | $ | 0 |  |  | $ | 998,949 |
Accounts receivable, net |  |  | 48,108 |  |  |  | 34,442 |  |  |  | 0 |  |  |  | 82,550 |
Fixed assets, net |  |  | 170,213 |  |  |  | 159,784 |  |  |  | 0 |  |  |  | 329,997 |
Total assets (1) |  | $ | 2,294,537 |  |  | $ | 2,610,964 |  |  | $ | (2,659,716 | ) |  | $ | 2,245,785 |
Note (1): The elimination for segment assets mainly consists of elimination of intra-Group loans between Sohu and Changyou, and elimination of long-term investments in subsidiaries and consolidated VIEs.

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