Yahoo 2004 Annual Report Download - page 92

Download and view the complete annual report

Please find page 92 of the 2004 Yahoo annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 114

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114

The following tables present summarized information by segment (in thousands):
Years Ended December 31,
2002 2003 2004
Revenues by segment:
United States $ 806,598 $1,355,153 $2,653,437
International 146,469 269,944 921,080
Total revenues $ 953,067 $1,625,097 $3,574,517
Segment operating income before depreciation and amortization:
United States $ 212,721 $ 441,372 $ 891,103
International (6,742) 36,011 140,809
Total segment operating income before depreciation and amortization 205,979 477,383 1,031,912
Corporate and unallocated operating costs and expenses:
Depreciation and amortization (109,389) (159,688) (311,041)
Stock compensation expense (8,402) (22,029) (32,290)
Income from operations $ 88,188 $ 295,666 $ 688,581
Capital expenditures, net:
United States $ 42,193 $ 94,305 $ 190,461
International 9,360 23,024 55,040
Total consolidated capital expenditures, net $ 51,553 $ 117,329 $ 245,501
December 31,
2003 2004
Property and equipment, net:
United States $414,632 $461,623
International 34,880 70,073
Total consolidated property and equipment, net $449,512 $531,696
Revenue is attributed to individual countries according to the international online property that generated the revenue.
No single foreign country accounted for more than 10 percent of revenues in 2002, 2003, and 2004.
The following table presents revenues for groups of similar services (in thousands):
Years Ended December 31,
2002 2003 2004
Marketing services*$745,126 $1,326,905 $3,148,941
Fees 207,941 298,192 425,576
Total revenues $953,067 $1,625,097 $3,574,517
* Marketing services revenues include listings revenues of approximately $94 million, $127 million, and $147 million for the years ended Decem-
ber 31, 2002, 2003, and 2004, respectively.
Revenues from sponsored search and rich media advertisements from the Company’s agreements with Overture are
included in marketing services for the years ended December 31, 2002, and for the period from January 1, 2003 through
October 7, 2003, the date the Company acquired Overture. Revenues from Overture amounted to 14 percent of total
86