INDUSTRY SEGMENT, GEOGRAPHIC INFORMATION AND SIGNIFICANT CUSTOMERS

We report segment information based on the “management” approach. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of our reportable segments.

Our CEO, the chief operating decision maker, reviews revenue and gross margin information for each of our reportable segments, but does not review operating expenses on a segment by segment basis. In addition, with the exception of goodwill and intangible assets, we do not identify or allocate our assets by the reportable segments.

Our business is organized into three reportable segments: Digital Media, Digital Experience (formerly Digital Marketing), and Publishing (formerly Print and Publishing). These segments provide our senior management with a comprehensive financial view of our key businesses. Our segments are aligned around our two strategic growth opportunities described above, placing our Publishing business in a third segment that contains some of our mature products and solutions.

For fiscal 2018, we have the following reportable segments:

•

Digital Media—Our Digital Media segment provides tools and solutions that enable individuals, small and medium businesses and enterprises to create, publish, promote and monetize their digital content anywhere. Our customers include traditional content creators, web application developers and digital media professionals, as well as their management in marketing departments and agencies, companies and publishers. Our customers also include knowledge workers who create, collaborate and distribute documents.

•

Digital Experience—Our Digital Experience segment provides solutions and services for how digital advertising and marketing are created, managed, executed, measured and optimized. Our customers include digital marketers, advertisers, publishers, merchandisers, web analysts, chief marketing officers, chief information officers and chief revenue officers. This segment also includes our marketing cloud platform offerings and commerce platform offerings from the Magento and Marketo acquisitions in the third and fourth quarter of fiscal 2018, respectively.


•	Publishing—Our Publishing segment addresses market opportunities ranging from the diverse authoring and publishing needs of technical and business publishing to our legacy type and OEM printing businesses. It also includes our web conferencing and document and forms platforms effective fiscal 2018.

In fiscal 2018, we moved our legacy enterprise offerings—Adobe Connect web conferencing platform and Adobe LiveCycle, an enterprise document and forms platform—from our Digital Experience segment into Publishing, in order to more closely align our Digital Experience business with the strategic growth opportunity. Prior year information in the tables below have been reclassified to reflect this change.

Our segment results for fiscal 2018, 2017 and 2016 were as follows (dollars in thousands):



	Digital Media			Digital Experience			Publishing			Total
Fiscal 2018
Revenue	$	6,325,315		$	2,443,745		$	260,948		$	9,030,008
Cost of revenue	249,386			922,414			23,199			1,194,999
Gross profit	$	6,075,929		$	1,521,331		$	237,749		$	7,835,009
Gross profit as a percentage of revenue	96		%	62		%	91		%	87		%
Fiscal 2017
Revenue	$	5,010,579		$	2,030,324		$	260,602		$	7,301,505
Cost of revenue	239,994			747,005			23,492			1,010,491
Gross profit	$	4,770,585		$	1,283,319		$	237,110		$	6,291,014
Gross profit as a percentage of revenue	95		%	63		%	91		%	86		%
Fiscal 2016
Revenue	$	3,941,011		$	1,631,426		$	281,993		$	5,854,430
Cost of revenue	231,074			559,938			28,896			819,908
Gross profit	$	3,709,937		$	1,071,488		$	253,097		$	5,034,522
Gross profit as a percentage of revenue	94		%	66		%	90		%	86		%

The tables below list our revenue and property and equipment, net, by geographic area for fiscal 2018, 2017 and 2016 (in thousands). With the exception of property and equipment, we do not identify or allocate our assets (including long-lived assets) by geographic area.



Revenue	2018		2017		2016
Americas:
United States	$	4,632,469	$	3,830,845	$	3,087,764
Other	484,296		385,686		312,371
Total Americas	5,116,765		4,216,531		3,400,135
EMEA	2,550,062		1,985,105		1,619,153
APAC:
Japan	609,361		524,254		401,205
Other	753,820		575,615		433,937
Total APAC	1,363,181		1,099,869		835,142
Revenue	$	9,030,008	$	7,301,505	$	5,854,430



Property and Equipment	2018		2017		2016
Americas:
United States	$	882,145	$	753,393	$	642,823
Other	30,475		2,797		559
Total Americas	912,620		756,190		643,382
EMEA	51,033		54,181		48,662
APAC:
India	93,259		109,051		106,322
Other	18,160		17,554		17,898
Total APAC	111,419		126,605		124,220
Property and equipment, net	$	1,075,072	$	936,976	$	816,264

Significant Customers

For fiscal 2018, 2017 and 2016 there were no customers that represented at least 10% of net revenue. As of fiscal year end 2018 and 2017, no single customer was responsible for over 10% of our trade receivables.