Yahoo 2013 Annual Report Download - page 129

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The following tables present summarized information by segment (in thousands):
Years Ended December 31,
2011 2012 2013
Revenue by segment:
Americas .............................................. $3,302,989 $3,461,633 $3,481,502
EMEA ................................................ 629,383 472,061 385,186
Asia Pacific ............................................ 1,051,827 1,052,872 813,692
Total revenue ....................................... 4,984,199 4,986,566 4,680,380
TAC by segment:
Americas .............................................. 160,110 182,511 158,974
EMEA ................................................ 221,916 114,230 42,915
Asia Pacific ............................................ 221,345 222,165 52,553
Total TAC ......................................... 603,371 518,906 254,442
Revenue ex-TAC by segment:
Americas .............................................. 3,142,879 3,279,122 3,322,528
EMEA ................................................ 407,467 357,831 342,271
Asia Pacific ............................................ 830,482 830,707 761,139
Total revenue ex-TAC ................................ 4,380,828 4,467,660 4,425,938
Direct costs by segment(1):
Americas .............................................. 696,103 733,316 747,684
EMEA ................................................ 165,750 161,990 165,719
Asia Pacific ............................................ 225,417 224,114 197,619
Global operating costs(2)(3) ..................................... 1,638,975 1,672,070 1,830,621
Depreciation and amortization ................................. 625,864 649,267 628,778
Goodwill impairment charge ................................... — — 63,555
Gains on sales of patents ...................................... — — (79,950)
Stock-based compensation expense ............................. 203,958 224,365 278,220
Restructuring charges, net ..................................... 24,420 236,170 3,766
Income from operations .................................. $ 800,341 $ 566,368 $ 589,926
(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 experience 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 experience 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.
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