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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Agency revenues $ 2,332,371 $ 1,852,961 $ 4,117,684 $ 3,352,990
Merchant revenues 498,133 517,867 940,178 987,899
Advertising and other revenues 194,052 185,074 386,098 363,132
Total revenues 3,024,556 2,555,902 5,443,960 4,704,021
Cost of revenues 72,742 126,084 157,911 254,753
Gross profit 2,951,814 2,429,818 5,286,049 4,449,268
Operating expenses:        
Performance advertising 1,147,589 920,763 2,128,362 1,700,672
Brand advertising 121,187 112,321 194,199 182,166
Sales and marketing 131,734 105,522 245,770 197,845
Personnel, including stock-based compensation of $66,879, $54,976, $125,827 and $120,976, respectively 385,708 332,654 736,738 641,005
General and administrative 141,634 112,642 277,181 225,687
Information technology 44,831 35,797 84,776 68,585
Depreciation and amortization 85,872 77,712 169,302 150,583
Total operating expenses 2,058,555 1,697,411 3,836,328 3,166,543
Operating income 893,259 732,407 1,449,721 1,282,725
Other income (expense):        
Interest income 36,821 21,292 68,813 41,639
Interest expense (60,942) (50,290) (116,659) (97,184)
Foreign currency transactions and other (6,021) 1,997 (11,148) (10,931)
Impairment of cost-method investments 0 (12,858) 0 (63,208)
Total other expense (30,142) (39,859) (58,994) (129,684)
Earnings before income taxes 863,117 692,548 1,390,727 1,153,041
Income tax expense 142,908 111,910 214,895 197,979
Net income $ 720,209 $ 580,638 $ 1,175,832 $ 955,062
Net income applicable to common stockholders per basic common share $ 14.66 $ 11.71 $ 23.92 $ 19.25
Weighted-average number of basic common shares outstanding 49,131 49,604 49,161 49,617
Net income applicable to common stockholders per diluted common share $ 14.39 $ 11.60 $ 23.49 $ 19.06
Weighted-average number of diluted common shares outstanding 50,056 50,059 50,049 50,105