SEGMENT REPORTING

9 Months Ended

Sep. 30, 2022

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,
	2022		2021		2022		2021
North America	$	127,965	$	119,823	$	422,454	$	385,857
International	1,184		2,849		5,133		5,683
Total EBITDA	$	129,149	$	122,672	$	427,587	$	391,540

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Net income	$	72,290	$	64,304	$	245,081	$	199,664
Amortization of acquired intangible assets in cost of revenues	6,945		7,209		21,980		21,565
Amortization of acquired intangible assets in operating expenses	29,651		19,121		60,621		55,885
Depreciation and other amortization	7,224		6,610		21,199		22,138
Interest (income) expense, net	(10,656)		7,943		461		23,698
Other income, net	(1,389)		(1,546)		(3,596)		(2,343)
Income tax expense	25,084		19,031		81,841		70,933
EBITDA	$	129,149	$	122,672	$	427,587	$	391,540

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

	September 30, 2022		December 31, 2021
Property and equipment, net:
North America	$	305,388	$	269,792
International	931		1,639
Total property and equipment, net	$	306,319	$	271,431
Goodwill:
North America	$	2,149,247	$	2,145,846
International	152,492		175,169
Total goodwill	$	2,301,739	$	2,321,015
Assets:
North America	$	7,970,371	$	6,976,752
International	235,492		280,119
Total assets	$	8,205,863	$	7,256,871
Liabilities:
North America	$	1,456,678	$	1,502,497
International	42,273		42,702
Total liabilities	$	1,498,951	$	1,545,199