Segment and Geographic Information (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Activity Related to Net Revenue, Adjusted EBITDA by Segment

The following tables present Direct Retail and Other net revenues and Adjusted EBITDA attributable to the Company's reportable segments for the periods presented (in thousands):

	Three months ended September 30,				Nine months ended September 30,
	2019		2018		2019		2018
U.S. Direct Retail	$	1,960,847	$	1,460,056	$	5,593,923	$	4,043,270
U.S. Other	5,807		13,189		30,947		42,903
U.S. segment net revenue	1,966,654		1,473,245		5,624,870		4,086,173
International Direct Retail	338,833		232,400		968,697		678,997
International segment net revenue	338,833		232,400		968,697		678,997
Total net revenue	$	2,305,487	$	1,705,645	$	6,593,567	$	4,765,170

	Three months ended September 30,						Nine months ended September 30,
	2019			2018			2019			2018
Adjusted EBITDA:
U.S.	$	(62,878	)	$	(26,036	)	$	(91,002	)	$	(26,774	)
International	(81,306		)	(50,369		)	(225,383		)	(134,400		)
Total reportable segments Adjusted EBITDA	(144,184		)	(76,405		)	(316,385		)	(161,174		)
Less: reconciling items (1)	(127,851		)	(75,321		)	(337,977		)	(199,061		)
Net loss	$	(272,035	)	$	(151,726	)	$	(654,362	)	$	(360,235	)

(1) Adjustments are made to reconcile total reportable segments Adjusted EBITDA to consolidated net loss including the following (in thousands):

	Three months ended September 30,						Nine months ended September 30,
	2019			2018			2019			2018
Depreciation and amortization	$	50,250		$	32,544		$	134,172		$	87,426
Equity-based compensation and related taxes	65,275			36,317			173,963			95,074
Interest expense, net	14,432			7,066			33,922			18,269
Other (income), net	(2,182		)	(1,054		)	(5,582		)	(2,661		)
Provision for income taxes	76			448			1,502			953
Total reconciling items	$	127,851		$	75,321		$	337,977		$	199,061

The following table presents the activity related to the Company’s net revenue from Direct Retail sales derived through the Company’s sites and Other sales derived through websites operated by third parties and fees from our media solutions business (in thousands):

	Three months ended September 30,				Nine months ended September 30,
	2019		2018		2019		2018
Net revenue
Direct Retail	$	2,299,680	$	1,692,456	$	6,562,620	$	4,722,267
Other	5,807		13,189		30,947		42,903
Net revenue	$	2,305,487	$	1,705,645	$	6,593,567	$	4,765,170

Schedule of Segment Assets

The following table presents total assets attributable to the Company's reportable segments reconciled to consolidated amounts (in thousands):

	September 30, 2019		December 31, 2018
Assets by segment
U.S.	$	1,482,542	$	670,344
International	190,498		56,177
Total reportable segments assets	1,673,040		726,521
Plus: reconciling corporate assets	1,334,595		1,164,329
Total assets	$	3,007,635	$	1,890,850

U.S. and International segment assets consist primarily of "Accounts receivable," "Inventories," "Prepaid expenses and other current assets," "Property and equipment, net" and "Operating lease right-of-use assets." Corporate assets include "Cash and cash equivalents," marketable securities, "Long-term investments," corporate facilities, "Goodwill and intangible assets, net," and capitalized internal-use software and website development costs.