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YHOO_Q112EarningsPresentation

YHOO_Q112EarningsPresentation

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Published by Kara Swisher

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Published by: Kara Swisher on Apr 17, 2012
Copyright:Attribution Non-commercial

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09/14/2014

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Yahoo! Inc.
4.17.2012
 
DefinitionsandNon-GAAPFinancialMeasures
Thispresentationincludesthefollowingnon-GAAPfinancialmeasures:-
Revenueex-TAC
isdefinedasGAAPRevenuelessTrafficacquisitioncosts(TAC).TACconsistsofpaymentstoAffiliatesandpaymentsmadetocompaniesthatdirectconsumerandbusinesstraffictoYahoo!Properties.-
Displayrevenueex-TAC
isdefinedasGAAPDisplayrevenuelessDisplayTAC.
Searchrevenueex-TAC
isdefinedasGAAPSearchrevenuelessSearchTAC.
Otherrevenueex-TAC
isdefinedasGAAPOtherrevenuelessOtherTAC.-
TotaloperatingexpenseslessTAC
isdefinedasGAAPTotaloperatingexpensesexcludingTAC.-
Freecashflow
isdefinedasCashflowfromoperatingactivities(adjustedtoincludeExcesstaxbenefitsfromstock-basedawards),lessAcquisitionofpropertyandequipment,netandDividendsreceivedfromequityinvestees.-
Non-GAAPincomefromoperations
isdefinedasIncomefromoperationsexcludingcertaingains,losses,andexpensesthatwedonotbelieveareindicativeofourongoingoperatingresults.-
Non-GAAPnetincome
isdefinedasNetincomeattributabletoYahoo!Inc.excludingcertaingains,losses,expenses,andtheirrelatedtaxeffectsthatwedonotbelieveareindicativeofourongoingresults.PleaserefertotheAppendixforreconciliationsofthesenon-GAAPfinancialmeasurestotheGAAPfinancialmeasurestheCompanyconsidersmostcomparable.Inaddition,certainmargininformationispresentedonanon-GAAPbasis:-
Operatingmarginex-TAC
iscalculatedasOperatingincomedividedbyRevenueex-TAC;and-
Netmarginex-TAC
iscalculatedasNetincomeattributabletoYahoo!Inc.dividedbyRevenueex-TAC.PleaserefertotheAppendixforpresentationsofthemostcomparablemarginscalculatedonaGAAPbasis.
Returnoninvestedcapital(ROIC)
iscalculatedas:(Operatingincomex(1-Effectivetaxrate))/(averageStockholder’sequity+averageNetdebtaverageInvestmentsinequityinterests),wheretheaverageofsuchitemsiscalculatedastheaverageoftheamountsatthebeginningandendingofthe12-monthperiod.Effectivetaxratefortheperiodiscalculatedas(Provisionforincometaxes)/(Incomebeforeincometaxesandearningsinequityinterests).Netdebtiscalculatedas(Totaldebt)((Cash&cashequivalents)+(ShorttermandLongtermmarketabledebtsecurities)).3PleaserefertotheCompany’searningsreleasefordefinitionsofothertermsappearinginthispresentation,andformoreinformationregardingtheCompany’snon-GAAPfinancialmeasures.

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