SEGMENT REPORTING

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

Segment Information

The Company manages its business geographically in two operating segments, with the primary areas of measurement and decision-making being North America, which includes the U.S. and Canada, and International, which primarily includes Europe, Asia-Pacific and Latin America. Management relies on an internal management reporting process that provides revenue and operating segment net income before interest expense (income) and other expense (income), loss on debt extinguishment, income taxes, depreciation and amortization (“EBITDA”). Management believes that operating segment EBITDA is an appropriate measure for evaluating the operational performance of the Company’s operating segments. EBITDA is used by management to internally measure operating and management performance, and to evaluate the performance of the business. However, this measure should be considered in addition to, not as a substitute for or superior to, income from operations or other measures of financial performance prepared in accordance with GAAP.

Summarized EBITDA information by operating segment consists of the following (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
North America	$	119,823	$	107,906	$	385,857	$	322,611
International	2,849		579		5,683		(4,708)
Total EBITDA	$	122,672	$	108,485	$	391,540	$	317,903

The reconciliation of net income to EBITDA consists of the following (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Net income	$	64,304	$	58,186	$	199,664	$	191,339
Amortization of acquired intangible assets in cost of revenues	7,209		6,612		21,565		18,671
Amortization of acquired intangible assets in operating expenses	19,121		18,258		55,885		44,677
Depreciation and other amortization	6,610		6,806		22,138		20,563
Interest expense, net	7,943		7,537		23,698		9,482
Other (income) expense	(1,546)		338		(2,343)		(29)
Income tax expense	19,031		10,748		70,933		33,200
EBITDA	$	122,672	$	108,485	$	391,540	$	317,903

Summarized information by operating segment consists of the following (in thousands):

	September 30, 2021		December 31, 2020
Property and equipment, net:
North America	$	237,010	$	123,634
International	1,856		2,691
Total property and equipment, net	$	238,866	$	126,325
Goodwill:
North America	$	2,145,506	$	2,085,494
International	148,008		150,505
Total goodwill	$	2,293,514	$	2,235,999
Assets:
North America	$	6,853,670	$	6,674,974
International	277,646		240,446
Total assets	$	7,131,316	$	6,915,420
Liabilities:
North America	$	1,484,686	$	1,496,894
International	43,207		43,167
Total liabilities	$	1,527,893	$	1,540,061