Yahoo 2010 Annual Report Download - page 101

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The following tables present summarized information by segment (in thousands):
Years Ended December 31,
2008 2009 2010
Revenue by segment:
Americas .............................................. $5,319,617 $4,852,331 $4,425,457
EMEA ................................................ 863,544 598,300 579,145
Asia Pacific ............................................ 1,025,341 1,009,684 1,320,049
Total revenue ....................................... 7,208,502 6,460,315 6,324,651
TAC by segment:
Americas .............................................. 1,140,868 1,195,579 957,607
EMEA ................................................ 278,324 207,844 210,261
Asia Pacific ............................................ 390,722 374,403 568,554
Total TAC ......................................... 1,809,914 1,777,826 1,736,422
Revenue ex-TAC by segment:
Americas .............................................. 4,178,749 3,656,752 3,467,850
EMEA ................................................ 585,220 390,456 368,884
Asia Pacific ............................................ 634,619 635,281 751,495
Total revenue ex-TAC ................................ 5,398,588 4,682,489 4,588,229
Direct costs by segment(1):
Americas .............................................. 918,229 620,690 568,017
EMEA ................................................ 211,364 115,778 118,954
Asia Pacific ............................................ 166,605 138,739 146,657
Global operating costs(2)(3) ..................................... 2,267,160 2,116,747 2,044,246
Restructuring charges, net ..................................... 106,854 126,901 57,957
Depreciation and amortization ................................. 790,033 738,855 656,396
Stock-based compensation expense ............................. 437,843 438,087 223,478
Goodwill impairment charge ................................... 487,537 — —
Income from operations .................................. $ 12,963 $ 386,692 $ 772,524
(1) Direct costs for each segment include cost of revenue (excluding TAC) and other operating expenses that are
directly attributable to the segment such as employee compensation expense (excluding stock-based
compensation expense), local sales and marketing expenses, and facilities expenses. Beginning in the fourth
quarter of 2010, the Company no longer includes TAC in segment direct costs. For comparison purposes,
prior period amounts have been revised to conform to the current presentation.
(2) Global operating costs include product development, service engineering and operations, marketing,
customer advocacy, general and administrative, and other corporate expenses that are managed on a global
basis and that are not directly attributable to any particular segment.
(3) The net cost reimbursements from Microsoft are primarily included in global operating costs for the year
ended December 31, 2010.
Years Ended December 31,
2008 2009 2010
Capital expenditures, net:
Americas ................................................... $592,278 $379,287 $563,129
EMEA ..................................................... 34,086 21,030 58,533
Asia Pacific ................................................ 48,465 33,478 92,416
Total capital expenditures, net .............................. $674,829 $433,795 $714,078
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