Yahoo 2012 Annual Report Download - page 123

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The following tables present summarized information by segment (in thousands):
Years Ended December 31,
2010 2011 2012
Revenue by segment:
Americas .............................................. $4,425,457 $3,302,989 $3,461,633
EMEA ................................................ 579,145 629,383 472,061
Asia Pacific ............................................ 1,320,049 1,051,827 1,052,872
Total revenue ....................................... 6,324,651 4,984,199 4,986,566
TAC by segment:
Americas .............................................. 957,608 160,110 182,511
EMEA ................................................ 210,261 221,916 114,230
Asia Pacific ............................................ 568,554 221,345 222,165
Total TAC ......................................... 1,736,423 603,371 518,906
Revenue ex-TAC by segment:
Americas .............................................. 3,467,849 3,142,879 3,279,122
EMEA ................................................ 368,884 407,467 357,831
Asia Pacific ............................................ 751,495 830,482 830,707
Total revenue ex-TAC ................................ 4,588,228 4,380,828 4,467,660
Direct costs by segment(1):
Americas .............................................. 704,858 696,103 733,316
EMEA ................................................ 149,594 165,750 161,990
Asia Pacific ............................................ 175,589 225,417 224,114
Global operating costs(2)(3) ..................................... 1,847,832 1,638,975 1,672,070
Depreciation and amortization ................................. 656,396 625,864 649,267
Stock-based compensation expense ............................. 223,478 203,958 224,365
Restructuring charges, net ..................................... 57,957 24,420 236,170
Income from operations .................................. $ 772,524 $ 800,341 $ 566,368
(1) Direct costs for each segment include cost of revenue-other, as well as 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 2012,
marketing and customer advocacy costs are managed locally and included as direct costs for each segment.
Prior period amounts have been revised to conform to the current presentation.
(2) Global operating costs include product development, service engineering and operations, general and
administrative, and other corporate expenses that are managed on a global basis and that are not directly
attributable to any particular segment. Prior to 2012, marketing and customer advocacy costs were managed
on a global basis and included as global operating costs. Prior period amounts have been revised to conform
to the current presentation.
(3) The net cost reimbursements from Microsoft pursuant to the Search Agreement are primarily included in
global operating costs.
Years Ended December 31,
2010 2011 2012
Capital expenditures, net:
Americas ................................................... $563,129 $437,804 $437,978
EMEA ..................................................... 58,533 49,371 27,074
Asia Pacific ................................................ 92,416 106,119 40,455
Total capital expenditures, net .............................. $714,078 $593,294 $505,507
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