Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v2.4.1.9
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2015
Segment Reporting Information, Profit (Loss) [Abstract]  
Adjusted EBITDA To Operating Income (Loss) And Consolidated Net Income
The following tables reconcile Adjusted EBITDA to operating income for HSNi’s operating segments and to HSNi’s consolidated net income (in thousands):
 
Three Months Ended March 31, 2015
 
Three Months Ended March 31, 2014
 
HSN
 
Cornerstone
 
Total
 
HSN
 
Cornerstone
 
Total
Adjusted EBITDA
$
66,190

 
$
6,961

 
$
73,151

 
$
59,142

 
$
615

 
$
59,757

Stock-based compensation expense
(3,607
)
 
(1,050
)
 
(4,657
)
 
(3,145
)
 
(881
)
 
(4,026
)
Depreciation and amortization
(7,419
)
 
(3,830
)
 
(11,249
)
 
(7,436
)
 
(3,320
)
 
(10,756
)
CPSC settlement (a)
—

 
—

 
—

 
—

 
(3,100
)
 
(3,100
)
Loss on disposition of fixed assets
(236
)
 
—

 
(236
)
 
—

 
(7
)
 
(7
)
Operating income (loss)
$
54,928

 
$
2,081

 
57,009

 
$
48,561

 
$
(6,693
)
 
41,868

Total other expense, net
 
 
 
 
(3,297
)
 
 
 
 
 
(1,699
)
Income before income taxes
 
 
 
 
53,712

 
 
 
 
 
40,169

Income tax provision
 
 
 
 
(20,023
)
 
 
 
 
 
(15,987
)
Net income
 
 
 
 
$
33,689

 
 
 
 
 
$
24,182

 
(a) In the first quarter of 2014, Cornerstone recorded a $3.1 million settlement of a civil penalty assessed by the Consumer Product Safety Commission.
 
 
 
 
 
 
 
 
 
 
 
 
Financial Information By Segment
The net sales for each of HSNi's reportable segments are as follows (in thousands):
 
 
Three Months Ended March 31,
 
 
2015
 
2014
Net sales:
 
 
 
 
HSN
 
$
600,492

 
$
544,487

Cornerstone
 
241,395

 
232,933

Total
 
$
841,887

 
$
777,420