XML 57 R43.htm IDEA: XBRL DOCUMENT v3.19.1
Business Segments (Tables)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2016
Segment Reporting [Abstract]    
Schedule of Segment Reporting Information, by Segment
The table below presents financial information for the Company's reportable operating segments and Other for the fiscal years noted (in thousands): 
 
North America
 
EMEA
 
LATAM
 
Other (2)
 
Total
Fiscal 2018:
 

 
 

 
 
 
 

 
 

Revenue from third parties
$
777,426

 
$
260,950

 
$
83,175

 
$

 
$
1,121,551

Revenue from other segments
3,200

 
9,500

 
217

 
(12,917
)
 

Total revenue
780,626

 
270,450

 
83,392

 
(12,917
)
 
1,121,551

Adjusted EBITDA(1)
61,780

 
6,410

 
3,082

 
(43,372
)
 
27,900

Fiscal 2017:
 

 
 

 
 
 
 

 
 
Revenue from third parties
780,511

 
265,669

 
92,181

 

 
1,138,361

Revenue from other segments
5,469

 
13,444

 
1,693

 
(20,606
)
 

Total revenue
785,980

 
279,113

 
93,874

 
(20,606
)
 
1,138,361

Adjusted EBITDA(1)
74,230

 
15,242

 
4,278

 
(35,867
)
 
57,883

Fiscal 2016:
 

 
 

 
 
 
 

 
 
Revenue from third parties
736,140

 
267,168

 
91,094

 

 
1,094,402

Revenue from other segments
6,029

 
13,070

 
4,456

 
(23,555
)
 

Total revenue
742,169

 
280,238

 
95,550

 
(23,555
)
 
1,094,402

Adjusted EBITDA(1)
68,434

 
14,752

 
6,818

 
(31,392
)
 
58,612

(1)
Adjusted EBITDA, which represents income from operations with the addition of depreciation and amortization, stock-based compensation expense, income/expense related to changes in the fair value of contingent consideration liabilities, goodwill and intangible asset impairment charges, restructuring charges, senior leadership transition and other employee-related costs, business development realignment, professional fees related to ASC 606 implementation, executive search costs, restatement-related professional fees, other professional fees, obsolete retail inventory charges, and Czech currency impact on procurement margin is considered a non-GAAP financial measure under SEC regulations. Income from operations is the most directly comparable financial measure calculated in accordance with GAAP. The Company presents this measure as supplemental information to help investors better understand trends in its business results over time. The Company's management team uses Adjusted EBITDA to evaluate the performance of the business. Adjusted EBITDA is not equivalent to any measure of performance required to be reported under GAAP, nor should this data be considered an indicator of the Company's overall financial performance and liquidity. Moreover, the Adjusted EBITDA definition the Company uses may not be comparable to similarly titled measures reported by other companies.
(2)
Other consists of intersegment eliminations, shared service activities and unallocated corporate expenses.
The table below presents total assets for the Company's reportable segments and Other as of December 31, 2018 and December 31, 2017.

 
December 31,
 
2018
 
2017
North America
$
399,288

 
$
401,415

EMEA
160,322

 
171,086

LATAM
43,028

 
57,235

Other
20,038

 
19,902

    Total Assets
$
622,676

 
$
649,638

 
Schedule of Earnings Before Interest Tax Depreciation and Amortization Reconciliation  
 
The table below reconciles Adjusted EBITDA and Income (loss) before income taxes in the Company's consolidated statement of operations (in thousands):

 
Year Ended December 31,
 
2018
 
2017
 
2016
Adjusted EBITDA
$
27,900

 
$
57,883

 
$
58,612

Depreciation and amortization
(12,988
)
 
(13,390
)
 
(17,916
)
Stock-based compensation expense
(5,302
)
 
(6,820
)
 
(5,572
)
Change in fair value of contingent consideration

 
(677
)
 
(10,417
)
Goodwill impairment
(46,319
)
 

 

Intangible and other asset impairments
(18,121
)
 

 
(70
)
Restructuring charges
(6,031
)
 

 
(5,615
)
Senior leadership transition and other employee-related costs
(1,410
)
 

 

Business development realignment

 
(715
)
 

Professional fees related to ASC 606 implementation
(1,092
)
 
(829
)
 

Executive search costs
(235
)
 
(454
)
 

Restatement-related professional fees
(2,430
)
 

 

Other professional fees
(507
)
 

 

Obsolete retail inventory
(950
)
 

 

Czech currency impact on procurement margin

 
(860
)
 

Total other expense
(9,147
)
 
(6,420
)
 
(4,239
)
(Loss) income before income taxes
$
(76,632
)
 
$
27,718

 
$
14,783