eBay 2001 Annual Report Download - page 80

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eBay Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Ì (CONTINUED)
respectively, after applying certain adjustments, including amortization of goodwill and other acquisition
related transactions (in thousands except per share amounts):
Year ended December 31,
2000 2001
(unaudited)
Net revenuesÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $442,779 $753,575
Net income (loss) ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $(62,188) $ 73,132
Net income (loss) per share:
Basic ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ (0.25) $ 0.27
Diluted ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ (0.25) $ 0.26
The pro forma Ñnancial information does not necessarily reÖect the results of operations that would
have occurred had eBay, Internet Auction and iBazar constituted a consolidated entity during such periods.
See ""Note 1 ÌThe Company and Summary of SigniÑcant Accounting Policies, Recent Accounting
Pronouncements.''
Note 4 Ì Segment Information:
We have identiÑed two reporting segments: online services and oÉine services. The online services
segment consists of our online trading platforms in the United States and internationally as well as the
various features oÅered through such platforms. These features include electronic payments, Buy-It-Now,
third-party advertising and end-to-end services and promotions. The oÉine services segment consists of the
current operations of ButterÑelds and Kruse.
Segment selection is based upon our internal organization structure, the manner in which these
operations are managed and their performance evaluated by management, the availability of separate
Ñnancial information, and overall materiality considerations. Segment performance measurement is based
on operating income before income taxes, minority interest, equity in partnership income, amortization of
acquired intangible assets, merger related costs, stock-based costs and expenses and payroll expense on
employee stock options. The operating information for the two segments identiÑed are as follows (in
thousands):
1999
Online OÉine Consolidated
Net revenues from external customers ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $182,533 $42,191 $224,724
Operating income, as adjusted ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 3,970 3,188 7,158
Interest and other income and expense, net ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 23,624 209 23,833
Interest expense ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ (504) (1,815) (2,319)
Amortization of certain non-cash items ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ (8,697) (1,834) (10,531)
Income (loss) before income taxes and minority interest and
equity interest in partnership incomeÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ 18,393 $ (252) $ 18,141
Total assetsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $873,122 $96,703 $969,825
76