XML 19 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Income Statement [Abstract]      
Agency revenues $ 9,714,126 $ 7,982,116 $ 6,527,898
Merchant revenues 2,133,017 2,048,005 2,082,973
Advertising and other revenues 833,939 712,885 613,116
Total revenues 12,681,082 10,743,006 9,223,987
Cost of revenues 250,537 428,314 632,180
Gross profit 12,430,545 10,314,692 8,591,807
Operating expenses:      
Performance advertising 4,141,771 3,479,287 2,738,218
Brand advertising 391,584 295,698 273,704
Sales and marketing 561,958 435,225 353,221
Personnel, including stock-based compensation of $260,910, $249,574 and $247,395, respectively 1,659,581 1,350,032 1,166,226
General and administrative 585,541 455,909 415,420
Information technology 189,344 142,393 113,617
Depreciation and amortization 362,774 309,135 272,494
Impairment of goodwill 0 940,700 0
Total operating expenses 7,892,553 7,408,379 5,332,900
Operating income 4,537,992 2,906,313 3,258,907
Other income (expense):      
Interest income 157,194 94,946 55,729
Interest expense (253,976) (207,900) (160,229)
Foreign currency transactions and other (35,291) (16,913) (26,087)
Impairment of cost-method investments (7,597) (63,208) 0
Total other expense (139,670) (193,075) (130,587)
Earnings before income taxes 4,398,322 2,713,238 3,128,320
Income tax expense 2,057,557 578,251 576,960
Net income $ 2,340,765 $ 2,134,987 $ 2,551,360
Net income applicable to common stockholders per basic common share $ 47.78 $ 43.14 $ 50.09
Weighted-average number of basic common shares outstanding 48,994 49,491 50,940
Net income applicable to common stockholders per diluted common share $ 46.86 $ 42.65 $ 49.45
Weighted-average number of diluted common shares outstanding 49,954 50,063 51,593