EX-99.3 5 a2102579zex-99_3.txt EXHIBIT 99.3 Exhibit 99.3 USA INTERACTIVE PRO FORMA SEGMENT RESULTS $ IN MILLIONS, ROUNDING DIFFERENCES MAY EXIST
------------------------------------------------------------------------------------------------ PRO FORMA 2001 (a) ------------------------------------------------------------------------------------------------ OPERATING EXPENSES, EX. D&A, AMORTIZATION DISENGAGEMENT & ADJUSTED OF CABLE AMORTIZATION REVENUE NONRECURRING ITEMS EBITDA DEPRECIATION DISTRIBUTION FEES OF NON-CASH ITEMS ------- ------------------ -------- ------------ ----------------- ----------------- OPERATING BUSINESSES: HSN - U.S. $ 1,557 $(1,335) $ 222 $ (49) $ (42) $ (49) Ticketing 580 (473) 106 (23) -- (41) Personals 49 (33) 17 (2) -- (6) Hotels.com 536 (455) 81 (2) -- (18) Expedia 297 (236) 61 (11) -- (63) Interval N/A N/A N/A N/A N/A -- PRC 299 (264) 34 (31) -- -- Corporate expense and other adjustments -- (31) (31) (5) -- (19) ------- ------- ------- ------- ------- ------- Subtotal $ 3,318 $(2,828) $ 490 $ (123) $ (42) $ (196) EMERGING BUSINESSES: -- Citysearch 46 (90) (43) (7) -- (80) International TV shopping and other 273 (298) (26) (4) (2) (2) ECS/Styleclick 34 (88) (54) (9) -- (0) ------- ------- ------- ------- ------- ------- Subtotal $ 353 $ (476) (123) $ (20) $ (2) $ (82) Disengaged HSN homes 102 (91) 11 -- -- -- Intersegment elimination (7) 7 -- -- -- -- ------- ------- ------- ------- ------- ------- TOTAL $ 3,766 $(3,387) $ 379 $ (142) $ (44) $ (278) ======= ======= ======= ======= ======= ======= ------------------------------------------- ------------------------------------------- HSN DISENGAGEMENT NON-RECURRING OPERATING COSTS ITEMS (B) INCOME ------------- ------------- --------- OPERATING BUSINESSES: HSN - U.S. $ (4) $ (1) $ 77 Ticketing -- -- 42 Personals -- -- 9 Hotels.com -- -- 62 Expedia -- -- (13) Interval N/A N/A N/A PRC -- (9) (6) Corporate expense and other adjustments -- (3) (59) ------- ------- ------- Subtotal $ (4) $ (13) $ 113 EMERGING BUSINESSES: Citysearch -- (1) (131) International TV shopping and other -- (2) (35) ECS/Styleclick -- (11) (73) ------- ------- ------- Subtotal $ -- $ (13) $ (240) Disengaged HSN homes -- -- 11 Intersegment elimination -- -- -- ------- ------- ------- TOTAL $ (4) $ (26) $ (116) ======= ======= =======
------------------------------------------------------------------------------------------------ PRO FORMA 2002 (a) ------------------------------------------------------------------------------------------------ OPERATING EXPENSES, EX. D&A, AMORTIZATION DISENGAGEMENT & ADJUSTED OF CABLE AMORTIZATION REVENUE NONRECURRING ITEMS EBITDA DEPRECIATION DISTRIBUTION FEES OF NON-CASH ITEMS ------- ------------------ -------- ------------ ----------------- ----------------- OPERATING BUSINESSES: HSN - U.S. $ 1,613 $(1,341) $ 272 $ (53) $ (52) $ (49) Ticketing 655 (507) 148 (29) -- (41) Personals 125 (89) 36 (8) -- (6) Hotels.com 945 (814) 131 (3) -- (22) Expedia 589 (415) 174 (16) -- (64) Interval 39 (35) 4 (2) -- (7) PRC 295 (260) 35 (38) -- -- Corporate expense and other adjustments -- (46) (46) (7) -- (12) ------- ------- ------- ------- ------- ------- Subtotal $ 4,262 $(3,507) $ 754 $ (156) $ (52) $ (200) EMERGING BUSINESSES: Citysearch 31 (69) (38) (8) -- (55) International TV shopping and other 337 (352) (14) (10) (1) (6) ECS/Styleclick 39 (63) (24) (3) -- (5) ------- ------- ------- ------- ------- ------- Subtotal $ 407 $ (483) (76) $ (20) $ (1) $ (66) Disengaged HSN homes (1) 1 -- -- -- -- Intersegment elimination (11) 11 -- -- -- -- ------- ------- ------- ------- ------- ------- TOTAL $ 4,657 $(3,979) $ 678 $ (176) $ (54) $ (266) ======= ======= ======= ======= ======= ======= ------------------------------------------- ------------------------------------------- HSN DISENGAGEMENT NON-RECURRING OPERATING COSTS ITEMS (B) INCOME ------------- ------------- --------- OPERATING BUSINESSES: HSN - U.S. $ (32) $ -- $ 86 Ticketing -- -- 78 Personals -- -- 23 Hotels.com -- (1) 106 Expedia -- (2) 92 Interval -- -- (5) PRC -- (35) (38) Corporate expense and other adjustments -- -- (65) ------- ------- ------- Subtotal $ (32) $ (38) $ 276 EMERGING BUSINESSES: Citysearch -- (6) (106) International TV shopping and other -- (49) (81) ECS/Styleclick -- (29) (61) ------- ------- ------- Subtotal $ -- $ (84) $ (248) Disengaged HSN homes -- -- -- Intersegment elimination -- -- -- ------- ------- ------- TOTAL $ (32) $ (122) $ 28 ======= ======= =======
---------- (a) Data for 2001 and 2002 is pro forma for Expedia and Vivendi transactions and the exchange of Holdco shares by Liberty, which closed on February 4, 2002, May 7, 2002, and June 24, 2002, respectively. (b) Non-recurring items include one time items related to restructuring operations, employee terminations and benefits and a write-down of investments. (c) See footnotes to quarterly reconciliations for description of non-recurring items. The financial, statistical and other information contained herein is unaudited. As filed with the Securities and Exchange Commission on February 6, 2003. USA INTERACTIVE PRO FORMA SEGMENT RESULTS $ IN MILLIONS, ROUNDING DIFFERENCES MAY EXIST
------------------------------------------------------------------------------------------------ Q1 2002 (a) ------------------------------------------------------------------------------------------------ OPERATING EXPENSES, EX. D&A, AMORTIZATION DISENGAGEMENT & ADJUSTED OF CABLE AMORTIZATION REVENUE NONRECURRING ITEMS EBITDA DEPRECIATION DISTRIBUTION FEES OF NON-CASH ITEMS ------- ------------------ -------- ------------ ----------------- ----------------- OPERATING BUSINESSES: HSN - U.S. $ 395 $ (338) $ 58 $ (12) $ (12) $ (12) Ticketing 153 (120) 34 (7) -- (10) Personals 25 (18) 7 (1) -- (3) Hotels.com 166 (140) 26 (1) -- (6) Expedia 116 (81) 35 (3) -- (16) Interval -- -- -- -- -- -- PRC 70 (64) 6 (9) -- -- Corporate expense and other adjustments -- (8) (8) (1) -- (2) ------- ------- ------- ------- ------- ------- Subtotal $ 926 $ (770) $ 156 $ (35) $ (12) $ (48) EMERGING BUSINESSES: Citysearch 7 (18) (11) (3) -- (16) International TV shopping and other 65 (70) (5) (1) (1) (0) ECS/Styleclick 12 (21) (8) (1) -- (0) ------- ------- ------- ------- ------- ------- Subtotal $ 85 $ (109) (24) $ (4) $ (1) $ (17) Disengaged HSN homes -- -- -- -- -- -- Intersegment elimination (3) 3 -- -- -- -- ------- ------- ------- ------- ------- ------- TOTAL $ 1,007 $ (876) $ 132 $ (39) $ (13) $ (65) ======= ======= ======= ======= ======= ======= ------------------------------------------- ------------------------------------------- HSN DISENGAGEMENT NON-RECURRING OPERATING COSTS ITEMS (B) INCOME ------------- ------------- --------- OPERATING BUSINESSES: HSN - U.S. $ (12) $ -- $ 10 Ticketing -- -- 17 Personals -- -- 3 Hotels.com -- -- 19 Expedia -- -- 16 Interval -- -- -- PRC -- -- (3) Corporate expense and other adjustments -- -- (11) ------- ------- ------- Subtotal $ (12) $ -- $ 49 EMERGING BUSINESSES: Citysearch -- -- (30) International TV shopping and other -- -- (7) ECS/Styleclick -- -- (9) ------- ------- ------- Subtotal $ -- $ -- $ (46) Disengaged HSN homes -- -- -- Intersegment elimination -- -- -- ------- ------- ------- TOTAL $ (12) $ -- $ 3 ======= ======= =======
------------------------------------------------------------------------------------------------ Q2 2002 (a) ------------------------------------------------------------------------------------------------ OPERATING EXPENSES, EX. D&A, AMORTIZATION DISENGAGEMENT & ADJUSTED OF CABLE AMORTIZATION REVENUE NONRECURRING ITEMS EBITDA DEPRECIATION DISTRIBUTION FEES OF NON-CASH ITEMS ------- ------------------ -------- ------------ ----------------- ----------------- OPERATING BUSINESSES: HSN - U.S. $ 376 $ (314) $ 63 $ (14) $ (12) $ (12) Ticketing 175 (132) 44 (7) -- (10) Personals 30 (20) 10 (2) -- (1) Hotels.com 230 (197) 33 0 -- (5) Expedia 143 (99) 43 (5) -- (17) Interval -- -- -- -- -- -- PRC 72 (64) 8 (9) -- -- Corporate expense and other adjustments -- (10) (10) (1) -- 1 ------- ------- ------- ------- ------- ------- Subtotal $ 1,026 $ (835) $ 190 $ (37) $ (12) $ (45) EMERGING BUSINESSES: Citysearch 8 (16) (9) (2) -- (13) International TV shopping and other 78 (84) (6) (2) (1) (1) ECS/Styleclick 10 (17) (6) (1) -- (5) ------- ------- ------- ------- ------- ------- Subtotal $ 96 $ (117) (21) $ (5) $ (1) Disengaged HSN homes (1) 1 -- -- -- -- Intersegment elimination (3) 3 -- -- -- -- ------- ------- ------- ------- ------- ------- TOTAL $ 1,118 $ (948) $ 169 $ (41) $ (13) $ (45) ======= ======= ======= ======= ======= ======= ------------------------------------------- ------------------------------------------- HSN DISENGAGEMENT NON-RECURRING OPERATING COSTS ITEMS (B) INCOME ------------- ------------- --------- OPERATING BUSINESSES: HSN - U.S. $ (6) $ -- $ 18 Ticketing -- -- 27 Personals -- -- 7 Hotels.com -- -- 28 Expedia -- -- 22 Interval -- -- -- PRC -- (32) (32) Corporate expense and other adjustments -- -- (10) ------- ------- ------- Subtotal $ (6) $ (32) $ 59 EMERGING BUSINESSES: Citysearch -- -- (23) International TV shopping and other -- (18) (28) ECS/Styleclick -- (21) (33) ------- ------- ------- Subtotal $ -- $ (39) $ (85) Disengaged HSN homes -- -- -- Intersegment elimination -- -- -- ------- ------- ------- TOTAL $ (6) $ (70) $ (26) ======= ======= =======
---------- (a) Data for 2001 and 2002 is pro forma for Expedia and Vivendi transactions and the exchange of Holdco shares by Liberty, which closed on February 4, 2002, May 7, 2002, and June 24, 2002, respectively. (b) Non-recurring items include restructuring and one-time items related to restructuring operations, costs to shut down certain operations and a write-down of goodwill for PRC. The financial, statistical and other information contained herein is unaudited. As filed with the Securities and Exchange Commission on February 6, 2003. USA INTERACTIVE PRO FORMA SEGMENT RESULTS $ IN MILLIONS, ROUNDING DIFFERENCES MAY EXIST
------------------------------------------------------------------------------------------------ Q3 2002 (a) ------------------------------------------------------------------------------------------------ OPERATING EXPENSES, EX. D&A, AMORTIZATION DISENGAGEMENT & ADJUSTED OF CABLE AMORTIZATION REVENUE NONRECURRING ITEMS EBITDA DEPRECIATION DISTRIBUTION FEES OF NON-CASH ITEMS ------- ------------------ -------- ------------ ----------------- ----------------- OPERATING BUSINESSES: HSN - U.S. $ 371 $ (303) $ 67 $ (14) $ (13) $ (12) Ticketing 162 (126) 36 (8) -- (10) Personals 33 (26) 7 (2) -- (1) Hotels.com 277 (237) 40 (1) -- (5) Expedia 167 (118) 49 (4) -- (16) Interval 2 (2) 0 (0) -- (0) PRC 75 (65) 10 (10) -- -- Corporate expense and other adjustments -- (11) (11) (3) -- (4) ------- ------- ------- ------- ------- ------- Subtotal $ 1,088 $ (889) $ 198 $ (43) $ (13) $ (49) EMERGING BUSINESSES: Citysearch 8 (16) (8) (2) -- (13) International TV shopping and other 92 (91) 0 (3) -- (7) ECS/Styleclick 8 (13) (5) (1) -- (0) ------- ------- ------- ------- ------- ------- Subtotal $ 107 $ (120) (13) $ (6) $ -- $ (20) Disengaged HSN homes -- -- -- -- -- -- Intersegment elimination (2) 2 -- -- -- -- ------- ------- ------- ------- ------- ------- TOTAL $ 1,192 $(1,007) $ 185 $ (48) $ (13) $ (69) ======= ======= ======= ======= ======= ======= ------------------------------------------- ------------------------------------------- HSN DISENGAGEMENT NON-RECURRING OPERATING COSTS ITEMS (B) INCOME ------------- ------------- --------- OPERATING BUSINESSES: HSN - U.S. $ (5) $ -- $ 24 Ticketing -- -- 18 Personals -- -- 4 Hotels.com -- (1) 33 Expedia -- (1) 27 Interval -- -- 0 PRC -- -- (1) Corporate expense and other adjustments -- (19) ------- ------- ------- Subtotal $ (5) $ (2) $ 88 EMERGING BUSINESSES: Citysearch -- (1) (24) International TV shopping and other -- (31) (41) ECS/Styleclick -- (4) (9) ------- ------- ------- Subtotal $ -- $ (36) $ (75) Disengaged HSN homes -- -- -- Intersegment elimination -- -- -- ------- ------- ------- TOTAL $ (5) $ (38) $ 13 ======= ======= =======
------------------------------------------------------------------------------------------------ Q4 2002 (a) ------------------------------------------------------------------------------------------------ OPERATING EXPENSES, EX. D&A, AMORTIZATION DISENGAGEMENT & ADJUSTED OF CABLE AMORTIZATION REVENUE NONRECURRING ITEMS EBITDA DEPRECIATION DISTRIBUTION FEES OF NON-CASH ITEMS ------- ------------------ -------- ------------ ----------------- ----------------- OPERATING BUSINESSES: HSN - U.S. $ 470 $ (386) $ 84 $ (14) $ (15) $ (12) Ticketing 164 (130) 34 (8) -- (10) Personals 37 (25) 13 (2) -- (1) Hotels.com 273 (240) 32 (1) -- (6) Expedia 164 (117) 47 (4) -- (16) Interval 36 (33) 4 (2) -- (7) PRC 78 (66) 12 (10) -- -- Corporate expense and other adjustments -- (17) (17) (1) -- (7) ------- ------- ------- ------- ------- ------- Subtotal $ 1,223 $(1,013) $ 210 $ (42) $ (15) $ (58) EMERGING BUSINESSES: Citysearch 8 (18) (10) (2) -- (13) International TV shopping and other 103 (106) (4) (3) -- 3 ECS/Styleclick 9 (13) (4) (1) -- (0) ------- ------- ------- ------- ------- ------- Subtotal $ 120 $ (137) (17) $ (6) $ -- $ (10) Disengaged HSN homes (0) 0 -- -- -- -- Intersegment elimination (3) 3 -- -- -- -- ------- ------- ------- ------- ------- ------- TOTAL $ 1,339 $(1,147) $ 192 $ (48) $ (15) $ (69) ======= ======= ======= ======= ======= ======= ------------------------------------------- ------------------------------------------- HSN DISENGAGEMENT NON-RECURRING OPERATING COSTS ITEMS (C) INCOME ------------- ------------- --------- OPERATING BUSINESSES: HSN - U.S. $ (9) $ -- $ 34 Ticketing -- -- 17 Personals -- -- 9 Hotels.com -- -- 26 Expedia -- (1) 27 Interval -- -- (6) PRC -- (4) (2) Corporate expense and other adjustments -- -- (25) ------- ------- ------- Subtotal $ (9) $ (5) $ 80 EMERGING BUSINESSES: Citysearch -- (4) (29) International TV shopping and other -- -- (4) ECS/Styleclick -- (5) (10) ------- ------- ------- Subtotal $ -- $ (9) $ (42) Disengaged HSN homes -- -- Intersegment elimination -- -- ------- ------- ------- TOTAL $ (9) $ (14) $ 37 ======= ======= =======
(a) Data for 2001 and 2002 is pro forma for Expedia and Vivendi transactions and the exchange of Holdco shares by Liberty, which closed on February 4, 2002, May 7, 2002, and June 24, 2002, respectively. (b) Non-recurring items include restructuring and one-time items related shut down of HSN Italy, costs of contract terminations, write down of investments and costs incurred by the special committees of Expedia and Ticketmaster,. (c) Non-recurring items include restructuring and one-time items related to restructuring operations, employee terminations and costs incurred by the special committees of Expedia and Ticketmaster, as well as the benefit of certain tax deductions related to Styleclick and Hot Germany, which are considered non-recurring. The financial, statistical and other information contained herein is unaudited. As filed with the Securities and Exchange Commission on February 6, 2003. USA INTERACTIVE RESULTS OF OPERATIONS $ IN MILLIONS; ROUNDING DIFFERENCES MAY EXIST. UNAUDITED.
2001 (a) 2002 (a) ----------------------------------------------- ------------------------------------------------ P&L Q1 Q2 Q3 Q4 YE 12/31 Q1 Q2 Q3 Q4 YE 12/31 ------- ------- ------- -------- -------- -------- -------- -------- -------- -------- Revenues, net $ 877.9 $ 940.3 $ 917.3 $1,030.3 $3,765.8 $1,007.4 $1,117.8 $1,192.5 $1,339.0 $4,656.7 Operating costs and expenses: Costs related to revenues 571.5 597.9 596.8 658.2 2,424.4 628.4 683.6 713.2 803.9 2,829.0 ------- ------- ------- -------- -------- -------- -------- -------- -------- -------- Gross profit 306.4 342.4 320.5 372.0 1,341.4 379.1 434.2 479.3 535.1 1,827.7 ------- ------- ------- -------- -------- -------- -------- -------- -------- -------- Other costs and expenses 232.1 236.2 245.5 248.7 962.5 247.5 272.7 300.7 352.2 1,173.1 Depreciation 33.0 36.8 38.1 34.6 142.4 38.9 41.1 48.4 48.1 176.5 Amortization of non-cash compensation 12.9 8.8 8.4 8.3 38.3 8.3 6.9 6.5 9.2 30.9 Amortization of non-cash distribution and marketing 8.0 10.6 7.1 9.0 34.7 11.0 10.1 10.4 9.9 41.4 Amortization of other intangibles (non-cash) 59.6 61.9 60.7 66.7 248.9 58.4 60.2 64.5 64.7 247.7 One time charges 0.0 10.6 12.7 3.0 26.3 0.0 62.5 31.4 4.4 98.3 HSN disengagement costs 0.0 0.0 0.0 4.1 4.1 11.5 6.2 4.6 9.3 31.7 ------- ------- ------- -------- -------- -------- -------- -------- -------- -------- Total operating costs 345.6 364.8 372.4 374.4 1,457.2 375.6 459.7 466.6 497.7 1,799.6 ------- ------- ------- -------- -------- -------- -------- -------- -------- -------- Operating income (39.2) (22.3) (51.9) (2.4) (115.8) 3.5 (25.6) 12.8 37.3 28.1 Interest expense, net 21.9 19.3 23.0 20.2 84.5 (4.2) 26.2 28.0 28.1 78.1 Equity losses in affiliates and other (6.5) (5.9) (19.3) (28.6) (60.3) 12.3 (101.8) (18.2) 24.5 (83.2) ------- ------- ------- -------- -------- -------- -------- -------- -------- -------- 15.4 13.4 3.8 (8.4) 24.2 8.0 (75.6) 9.9 52.6 (5.1) ------- ------- ------- -------- -------- -------- -------- -------- -------- -------- Earnings before income taxes and minority interest (23.8) (8.9) (48.1) (10.8) (91.7) 11.5 (101.2) 22.6 90.0 23.0 Income tax expense (15.9) (6.1) (3.3) (5.0) (30.2) (15.2) (13.0) (37.5) 58.3 (7.4) Minority interest 5.0 1.2 2.3 (5.4) 3.2 (8.1) (11.2) (15.6) (15.0) (50.0) ------- ------- ------- -------- -------- -------- -------- -------- -------- -------- Net earnings/(loss) from continuing operations (34.6) (13.8) (49.1) (21.1) (118.6) (11.8) (125.4) (30.5) 133.3 (34.4) ======= ======= ======= ======== ======== ======== ======== ======== ======== ======== Preferred dividend (3.3) (3.3) (3.3) (3.3) (13.1) (3.3) (3.3) (3.3) (3.3) (13.1) Impact of dilutive securities 0.0 0.0 0.0 0.0 0.0 (2.0) (2.0) (1.1) (1.5) (6.2) ------- ------- ------- -------- -------- -------- -------- -------- -------- -------- Net earnings available to common shareholders $ (37.9) $ (17.1) $ (52.4) $ (24.4) $ (131.7) $ (17.1) $ (130.6) $ (34.9) $ 128.5 $ (53.7) ======= ======= ======= ======== ======== ======== ======== ======== ======== ======== Adjusted Net Income Calculation: Net income before preferred dividend (34.6) (13.8) (49.1) (21.1) (118.6) (11.8) (125.4) (30.5) 133.3 (34.4) After tax and minority interest impact of non-recurring items 0.0 7.6 14.7 12.2 34.5 0.0 139.0 47.0 (80.6) 105.4 Preferred dividends (3.3) (3.3) (3.3) (3.3) (13.1) (3.3) (3.3) (3.3) 0.0 (13.1) Equity income from 5.44% common interest in VUE 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.7 (8.8) (6.1) Amortization of non-cash items 71.7 70.6 66.2 69.5 278.0 64.7 64.2 68.8 68.7 266.4 Less: related tax and minority interest (12.3) (22.1) (14.5) (9.2) (58.2) (19.8) (22.5) (19.6) (21.0) (82.4) ------- ------- ------- -------- -------- -------- -------- -------- -------- -------- Adjusted Net Income 21.5 39.0 13.9 48.1 122.6 29.8 52.0 65.2 91.6 235.9 ======= ======= ======= ======== ======== ======== ======== ======== ======== ======== Weighted average basic shares 476.5 480.1 482.8 483.5 480.5 487.5 492.5 493.9 494.8 492.4 Dilutive impact of options, warrants and restricted stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23.5 0.0 Impact of conversion of preferred shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19.4 0.0 ------- ------- ------- -------- -------- -------- -------- -------- -------- -------- Weighted average diluted shares 476.5 480.1 482.8 483.5 480.5 487.5 492.5 493.9 537.8 492.4 Weighted average basic shares 476.5 480.1 482.8 483.5 480.5 487.5 492.5 493.9 494.8 492.4 Dilutive impact of restricted stock 0.4 0.4 0.3 0.3 0.3 0.2 0.2 0.3 0.5 0.3 Dilutive impact of options and warrants 27.5 29.4 26.3 23.1 30.8 29.4 27.0 21.1 23.5 25.8 Impact of conversion of preferred shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19.4 0.0 ------- ------- ------- -------- -------- -------- -------- -------- -------- -------- Adjusted EPS shares outstanding 504.4 509.9 509.4 506.9 511.6 517.1 519.7 515.3 538.2 518.5 Basic earnings per share $ (.08) $ (.04) $ (.11) $ (.05) $ (.27) $ (.03) $ (.26) $ (.07) $ .26 $ (.10) Diluted earnings per share $ (.08) $ (.04) $ (.11) $ (.05) $ (.27) $ (.03) $ (.27) $ (.07) $ .24 $ (.11) Adjusted earnings per share $ .04 $ .08 $ .03 $ .09 $ .24 $ .06 $ .10 $ .13 $ .17 $ .45
---------- (a) Data for 2001 and 2002 is pro forma for Expedia and Vivendi transactions and the exchange of Holdco shares by Liberty, which closed on February 4, 2002, May 7, 2002, and June 24, 2002, respectively. THE FINANCIAL, STATISTICAL AND OTHER INFORMATION CONTAINED HEREIN IS UNAUDITED. As filed with the Securities and Exchange Commission on February 6, 2003. USA INTERACTIVE OPERATING METRICS $ IN MILLIONS
2000 2001 2002 ------- ----------------------------------------------- ------------------------------------------------ YE Q1 Q2 Q3 Q4 YE Q1 Q2 Q3 Q4 YE 12/31 ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------- GROSS TRANSACTION VALUE ("GTV") Total GTV $ 7,082 $ 2,167 $ 2,429 $ 2,135 $ 2,303 $ 9,033 $ 2,782 $ 3,256 $ 3,391 $ 3,475 $12,903 Interactive GTV (a) $ 4,722 $ 1,548 $ 1,792 $ 1,632 $ 1,768 $ 6,739 $ 2,218 $ 2,668 $ 2,839 $ 2,868 $10,593 % of Total 67% 71% 74% 76% 77% 75% 80% 82% 84% 83% 82% Internet GTV (b) $ 3,088 $ 1,148 $ 1,390 $ 1,232 $ 1,267 $ 5,038 $ 1,801 $ 2,225 $ 2,356 $ 2,295 $ 8,677 % of Total 44% 53% 57% 58% 55% 56% 65% 68% 69% 66% 67% International GTV $ 800 $ 254 $ 289 $ 252 $ 291 $ 1,086 $ 335 $ 465 $ 551 $ 586 $ 1,937 % of Total 11% 12% 12% 12% 13% 12% 12% 14% 16% 17% 15%
---------- (a) Interactive GTV is defined as GTV which was generated from the TV or PC from HSN, HSN.com, Ticketmaster.com, Hotels.com, Expedia, Match.com, TV Travel Shop and Interval. (b) Internet GTV is defined as GTV which was generated online from HSN.com, Ticketmaster.com, Hotels.com, Expedia, Match.com and Interval. THE FINANCIAL, STATISTICAL AND OTHER INFORMATION CONTAINED HEREIN IS UNAUDITED. PRO FORMA FOR EXPEDIA TRANSACTION. As filed with the Securities and Exchange Commission on February 6, 2003. USA INTERACTIVE OPERATING METRICS IN MILLIONS EXCEPT PER UNIT
2000 2001 2002 ------ ------------------------------------------ ------------------------------------------ YE Q1 Q2 Q3 Q4 YE Q1 Q2 Q3 Q4 YE ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ HSN - U.S. Units shipped 35.2 8.6 9.0 9.5 11.4 38.5 9.6 9.3 9.1 10.8 38.7 Gross profit % 34.9% 33.5% 34.5% 34.3% 33.9% 34.0% 35.5% 38.4% 38.1% 36.7% 37.1% Return rate 19.6% 19.6% 19.6% 19.0% 17.9% 18.9% 19.0% 18.8% 18.5% 18.2% 18.6% Product mix:* Home & Licensing N/A 37% 35% 36% 41% 38% 32% 28% 29% 35% 31% Home Fashions N/A 4% 4% 5% 5% 4% 7% 6% 8% 7% 7% Jewelry N/A 26% 26% 25% 25% 25% 24% 26% 25% 24% 25% Health/Beauty N/A 19% 22% 20% 17% 19% 24% 24% 23% 22% 23% Apparel/Accessories N/A 14% 13% 14% 12% 13% 13% 16% 15% 12% 14% Average Price Point $47.82 $50.06 $47.36 $46.13 $47.27 $47.63 $45.41 $44.18 $44.37 $47.54 $45.46 HSN total homes (end of period) 77.1 80.2 81.1 82.8 83.0 83.0 74.9 77.1 77.8 78.8 78.8 America's Store FTE's (end of period) 8.6 8.3 10.6 11.0 12.3 12.3 10.2 11.1 8.7 9.0 9.0 HSN.com % of Sales 3% 5% 8% 8% 10% 8% 11% 11% 11% 13% 12%
THE FINANCIAL, STATISTICAL AND OTHER INFORMATION CONTAINED HEREIN IS UNAUDITED. * In Q1 2002, HSN reclassfied certain items in its product mix. As such, wellness, ingestibles, and fitness categories were moved out of the Home Goods category and into the Health & Beauty category. Product Mix for 1999 and 2000 assuming reclassification not available. Home Licensing includes electronics, computers, and other licensed homegoods. As filed with the Securities and Exchange Commission on February 6, 2003. USA INTERACTIVE OPERATING METRICS IN MILLIONS
2000 2001 2002 ------ ------------------------------------------ ------------------------------------------ YE Q1 Q2 Q3 Q4 YE Q1 Q2 Q3 Q4 YE ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ TICKETING Number of tickets sold 83.0 23.6 23.6 19.3 20.3 86.8 23.9 24.3 22.8 24.1 95.1 Gross value of tickets sold $3,256 $ 937 $1,016 $ 788 $ 870 $3,611 $ 997 $1,144 $1,041 $1,106 $4,288 Share of tickets sold online 24.5% 29.5% 33.2% 31.9% 33.9% 32.1% 37.8% 43.0% 40.8% 40.7% 40.6%
THE FINANCIAL, STATISTICAL AND OTHER INFORMATION CONTAINED HEREIN IS UNAUDITED. As filed with the Securities and Exchange Commission on February 6, 2003. USA INTERACTIVE OPERATING METRICS IN THOUSANDS
2000 2001 2002 ------- ----------------------------------------------- ------------------------------------------------ YE Q1 Q2 Q3 Q4 YE Q1 Q2 Q3 Q4 YE ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------- MATCH.COM(a) Paid subscribers 156.9 189.5 216.6 252.7 382.2 382.2 527.7 604.2 653.2 724.8 724.8 New registrations 1,135.6 1,054.5 1,059.5 1,216.0 2,304.0 5,634.3 2,911.7 3,284.5 3,422.5 3,379.7 12,998.5 New subscriptions (first time only) 399.5 121.7 134.8 154.2 260.4 671.0 342.4 313.2 328.5 347.6 1,331.7 Conversion rate (Reg to Subs) 35.2% 11.5% 12.7% 12.7% 11.3% 11.9% 11.8% 9.5% 9.6% 10.3% 10.2%
THE FINANCIAL, STATISTICAL AND OTHER INFORMATION CONTAINED HEREIN IS UNAUDITED. As filed with the Securities and Exchange Commission on February 6, 2003. (a) The operating metrics include the impact of Soulmates, acquired on April 12, 2002. The 2001 operating metrics do not include Soulmates. USA INTERACTIVE OPERATING METRICS
2000 2001 2002 ------- ------------------------------------------- ------------------------------------------- YE Q1 Q2 Q3 Q4 YE Q1 Q2 Q3 Q4 YE ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- HOTELS.COM Hotel room nights sold (thousands) 2,433 799 1,030 1,227 1,187 4,243 1,408 1,883 2,320 2,227 7,838 Average Daily Rate $131.70 $124.35 $129.65 $120.64 $115.00 $121.10 $115.70 $118.95 $115.88 $117.93 $117.17 Affiliates (including TravelNow) 16,200 18,649 20,857 22,793 23,808 23,808 25,755 28,340 30,646 33,973 33,973 Properties 2,600 3,084 3,374 3,890 4,567 4,567 6,058 6,467 6,571 7,723 7,723 Cities served 97 135 146 171 178 178 218 243 285 325 325 U.S. N/A 100 111 119 124 124 146 154 165 186 186 International N/A 35 35 52 54 54 72 89 120 139 139
THE FINANCIAL, STATISTICAL AND OTHER INFORMATION CONTAINED HEREIN IS UNAUDITED. As filed with the Securities and Exchange Commission on February 6, 2003. USA INTERACTIVE OPERATING METRICS IN THOUSANDS
2000 2001 ------ ------------------------------------------------------------------ YE Q1 Q2 Q3 Q4 YE ------ ---------- ---------- ---------- ---------- ---------- EXPEDIA (in thousands) GROSS BOOKINGS Total gross bookings (a) $1,793 $ 674,000 $ 802,000 $ 723,000 $ 704,000 $2,903,000 Agency gross bookings N/A $ 579,000 $ 644,000 $ 559,000 $ 540,000 $2,322,000 Merchant gross bookings (includes CCV) N/A $ 95,000 $ 158,000 $ 164,000 $ 164,000 $ 581,000 CCV gross bookings N/A $ 0 $ 0 $ 0 $ 0 $ 0 International gross bookings N/A $ 40,000 $ 44,000 $ 47,000 $ 48,000 $ 179,000 North America gross bookings N/A $ 634,000 $ 758,000 $ 675,000 $ 656,000 $2,723,000 ADDITIONAL METRICS Revenue from packages N/A $ 3,649 $ 6,365 $ 9,408 $ 11,573 $ 30,995 Total room nights stayed N/A 752 1,102 1,270 1,522 4,646 Merchant room nights stayed N/A 494 729 970 1,178 3,371 Merchant hotel average daily rate (excludes CCV) N/A $ 117 $ 122 $ 119 $ 109 N/A CUSTOMERS Average monthly Media Metrix reach (b) N/A 6,969 7,502 9,410 9,238 N/A Expedia.com conversion (c) N/A 5.7% 7.0% 5.5% 5.2% N/A Expedia new purchasing customers (d) 1,769 671 904 918 870 3,363 Expedia cumulative purchasing customers (e) 2,932 3,603 4,507 5,424 6,294 6,294 Expedia quarterly unique purchasing customers (f) 2,741 1,007 1,336 1,393 1,383 5,119 2002 ------------------------------------------------------------------ Q1 Q2 Q3 Q4 YE ---------- ---------- ---------- ---------- ---------- EXPEDIA (in thousands) GROSS BOOKINGS Total gross bookings (a) $1,107,000 $1,335,000 $1,466,000 $1,380,000 $5,288,000 Agency gross bookings $ 797,000 $ 937,000 $1,042,000 $1,002,000 $3,778,000 Merchant gross bookings (includes CCV) $ 310,000 $ 398,000 $ 424,000 $ 378,000 $1,510,000 CCV gross bookings $ 18,000 $ 82,000 $ 67,000 $ 42,000 $ 209,000 International gross bookings $ 85,000 $ 94,000 $ 138,000 $ 123,000 $ 440,000 North America gross bookings $1,022,000 $1,241,000 $1,328,000 $1,257,000 $4,848,000 ADDITIONAL METRICS Revenue from packages $ 25,456 $ 41,527 $ 49,881 $ 46,912 $ 163,776 Total room nights stayed 2,042 2,627 3,207 3,168 11,044 Merchant room nights stayed 1,644 2,077 2,602 2,522 8,845 Merchant hotel average daily rate (excludes CCV) $ 118 $ 120 $ 114 $ 119 N/A .......... CUSTOMERS Average monthly Media Metrix reach (b) 11,242 12,161 12,615 11,392 N/A Expedia.com conversion (c) 5.8% 6.3% 6.7% 6.8% N/A Expedia new purchasing customers (d) 1,316 1,529 1,693 1,528 6,066 Expedia cumulative purchasing customers (e) 7,610 9,139 10,832 12,360 12,360 Expedia quarterly unique purchasing customers (f) 1,874 2,217 2,492 2,225 8,808
---------- (a) Gross bookings represents the total value of travel booked through the Expedia, WWTE sites, Classic Custom Vacations and Metropolitan Travel since acquisition. (b) Average monthly Media Metrix reach represents the unduplicated reach for the Expedia sites. (c) Conversion represents the monthly average Expedia.com unique monthly purchasers divided by the monthly average Media Metrix reach for the Expedia.com site. (d) Expedia new purchasing customers represents the number of new customers transacting through the Expedia sites in a quarter. (e) Expedia cumulative purchasing customers represents the cumulative number of customers that have ever transacted through the Expedia sites as of the end of a quarter. (f) Expedia quarterly unique purchasing customers represents the number of unique customers transacting through the Expedia sites over the course of a quarter. THE FINANCIAL, STATISTICAL AND OTHER INFORMATION CONTAINED HEREIN IS UNAUDITED. As filed with the Securities and Exchange Commission on February 6, 2003. USA INTERACTIVE OPERATING METRICS
2001 ------------------------------------------------------------- Q1 Q2 Q3 Q4 YE --------- --------- --------- --------- --------- INTERVAL Active members 1,232,675 1,260,904 1,292,688 1,318,093 1,318,093 Total exchange confirmations 200,777 166,489 154,565 148,988 670,818 % of Exchanges online 0.0% 1.8% 2.8% 3.3% 1.8% 2002 ------------------------------------------------------------- Q1 Q2 Q3 Q4 YE --------- --------- --------- --------- --------- INTERVAL Active members 1,359,146 1,433,390 1,470,582 1,499,668 1,499,668 Total exchange confirmations 220,079 180,731 166,771 151,021 718,602 % of Exchanges online 5.7% 5.8% 6.5% 7.6% 6.3%
THE FINANCIAL, STATISTICAL AND OTHER INFORMATION CONTAINED HEREIN IS UNAUDITED. PRO FORMA FOR USA'S ACQUISITION OF INTERVAL. As filed with the Securities and Exchange Commission on February 6, 2003. USA INTERACTIVE OPERATING METRICS IN MILLIONS CAPITALIZATION Ticker (NASDAQ) USAI As of 1/17/03 ------------- Shares Outstanding (millions) (a): USA Common Stock 431 USA Class B 65 ------- Total Shares Outstanding 496 Estimated dilutive options and warrants (treasury method) 24 ------- Fully diluted shares 520 ======= Market Capitalization: Outstanding equity capitalization $11,355 Fully diluted equity capitalization $11,914 As of 12/31/02 (b) ------------------ Attributable Cash (c) $ 3,446 Securities in VUE (d) 2,203 Debt and Preferred Stock (1,892) ------- Net Attributable Cash and Securities $ 3,757 ======= ---------- (a) Fully diluted shares includes treasury method options and warrants and other dilutive securities, and includes Vivendi's remaining 56.6 million shares that may be delivered to USA in connection with USA's Series B preferred interest in VUE. (b) Pro forma for Ticketmaster merger, which closed on 1/17/03. Please see USA Q4 earnings release filed February 6, 2003 for reconciliation to balance sheet values. (c) Includes attributable cash from USA's public subsidiaries, based on the Q4 weighted average of USA's fully diluted, treasury method ownership in public subsidiaries, which was 66% for Hotels.com and 55% for Expedia. Excludes cash due to clients at Ticketmaster. Consolidated cash is $3.1 billion as of January 17, 2003. (d) Includes securities issued to USA in the Vivendi transaction, as follows: Class A and Class B preferred interests and 5.4% common interest in Vivendi Universal Entertainment ("VUE") at balance sheet carrying values, less the estimated present value of taxes on the VUE securities related to USA's gain on the Vivendi transaction. Absolute % of Fully Shares % of Shares Diluted Shares Owned Outstanding (QTD) -------- ----------- -------------- Hotels.com (NASDAQ: ROOM) 39.0 67% 66% Expedia (NASDAQ: EXPE) 35.4 60% 55% ESTIMATED OPERATING METRICS FOR 2002 (ROUNDED) Primary Consumer web sites 34 Active/registered customers (a) 25 million Customer names in database (a) 90 million Customer inbound telephone minutes 800 million Customer inbound telephone calls 150 million Orders processed 110 million Items Shipped 45 million In-house merchants 150 Merchandise SKUs 68,000 Telephone operator positions 12,000 Ticketing outlets 3,500 Fulfillment center square feet 2.4 million (a) Assumes 25% duplication across USA brands. REVENUE MIX Revenue sources (Q4 '02): Merchandise 42% Travel 36% Ticketing 12% Teleservices 6% Personals 3% Other 1% ------- Total 100% ======= THE FINANCIAL, STATISTICAL AND OTHER INFORMATION CONTAINED HEREIN IS UNAUDITED. As filed with the Securities and Exchange Commission on February 6, 2003.