SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

The overall concept that the Company employs in determining its operating segments is to present the financial information in a manner consistent with how the chief operating decision maker views the businesses. In addition, the Company considers how the businesses are organized as to segment management and the focus of the businesses with regards to the types of services or products offered or the target market.

The following table presents revenue by reportable segment:

	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Revenue:
North America	$	1,602,571	$	1,395,428	$	1,249,892
Europe	82,867		72,497		76,313
Total	$	1,685,438	$	1,467,925	$	1,326,205

The following table presents the revenue of the Company’s segments disaggregated by type of service:

	Years Ended December 31,
	2021		2020		2019
	(In thousands)
North America
Angi Ads and Leads:
Consumer connection revenue(a)	$	896,711	$	899,175	$	867,307
Advertising revenue(b)	252,010		226,505		214,259
Membership subscription revenue(c)	68,062		74,073		92,975
Other revenue	27,812		33,136		23,844
Total Angi Ads and Leads revenue	1,244,595		1,232,889		1,198,385
Angi Services revenue(d)	357,976		162,539		51,507
Total North America revenue	1,602,571		1,395,428		1,249,892
Europe
Consumer connection revenue(e)	68,686		57,692		59,611
Service professional membership subscription revenue	12,939		13,091		14,231
Advertising and other revenue	1,242		1,714		2,471
Total Europe revenue	82,867		72,497		76,313
Total revenue	$	1,685,438	$	1,467,925	$	1,326,205

________________________

(a)    Includes fees paid by service professionals for consumer matches through the Angi Ads and Leads platforms.

(b)    Includes revenue from service professionals under contract for advertising.

(c)    Includes membership subscription revenue from service professionals and consumers.

(d)    Includes revenue from pre-priced offerings and revenue from Angi Roofing.

(e)    Includes fees paid by service professionals for consumer matches.

Revenue by geography is based on where the customer is located. Geographic information about revenue and long-lived assets is presented below.

	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Revenue
United States	$	1,581,051	$	1,379,236	$	1,234,755
All other countries	104,387		88,689		91,450
Total	$	1,685,438	$	1,467,925	$	1,326,205

The United States is the only country whose revenue is greater than 10% of total revenue of the Company for the years ended December 31, 2021, 2020, and 2019.

	December 31, 2021		December 31, 2020
	(In thousands)
Long-lived assets (excluding goodwill and intangible assets):
United States	$	111,136	$	97,841
All other countries	7,131		11,001
Total	$	118,267	$	108,842

The following tables present operating (loss) income and Adjusted EBITDA by reportable segment:

	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Operating (loss) income:
North America	$	(63,316)	$	4,811	$	48,967
Europe	(13,197)		(11,179)		(10,322)
Total	$	(76,513)	$	(6,368)	$	38,645

	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Adjusted EBITDA(f):
North America	$	35,328	$	178,854	$	208,192
Europe	$	(7,463)	$	(6,050)	$	(5,895)

(f)    The Company’s primary financial measure is Adjusted EBITDA, which is defined as operating (loss) income excluding: (1) stock-based compensation expense; (2) depreciation; and (3) acquisition-related items consisting of amortization of intangible assets and impairments of goodwill and intangible assets, if applicable.

The following tables reconcile operating (loss) income for the Company’s reportable segments and net loss attributable to Angi Inc. shareholders to Adjusted EBITDA:

	Year Ended December 31, 2021
	Operating Loss		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA
	(In thousands)
North America	$	(63,316)	$	28,399	$	53,815	$	16,430	$	35,328
Europe	(13,197)		$	303	$	5,431	$	—	$	(7,463)
Operating loss	(76,513)
Interest expense	(23,485)
Other expense, net	(2,509)
Loss before income taxes	(102,507)
Income tax benefit	32,013
Net loss	(70,494)
Net earnings attributable to noncontrolling interests	(884)
Net loss attributable to Angi Inc. shareholders	$	(71,378)

	Year Ended December 31, 2020
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA
	(In thousands)
North America	$	4,811	$	82,933	$	48,515	$	42,595	$	178,854
Europe	(11,179)		$	716	$	4,106	$	307	$	(6,050)
Operating loss	(6,368)
Interest expense	(14,178)
Other income, net	1,218
Loss before income taxes	(19,328)
Income tax benefit	15,168
Net earnings	(4,160)
Net earnings attributable to noncontrolling interests	(2,123)
Net earnings attributable to Angi Inc. shareholders	$	(6,283)

	Year Ended December 31, 2019
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA
	(In thousands)
North America	$	48,967	$	67,646	$	37,481	$	54,098	$	208,192
Europe	(10,322)		$	609	$	2,434	$	1,384	$	(5,895)
Operating income	38,645
Interest expense	(11,493)
Other income, net	6,494
Earnings before income taxes	33,646
Income tax benefit	1,668
Net earnings	35,314
Net earnings attributable to noncontrolling interests	(485)
Net earnings attributable to Angi Inc. shareholders	$	34,829

The following table presents capital expenditures by reportable segment:

	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Capital expenditures:
North America	$	67,772	$	50,462	$	64,215
Europe	2,443		2,026		4,589
Total	$	70,215	$	52,488	$	68,804