QVC Group, Inc. Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

3 Months Ended

Mar. 31, 2017

The following tables reconcile HSNi’s consolidated net income to operating income for HSNi's operating segments and Adjusted EBITDA (in thousands):



	Three Months Ended March 31, 2017								Three Months Ended March 31, 2016
	HSN			Cornerstone		Total			HSN		Cornerstone			Total
Net income						$	21,248							$	28,585
Income tax provision						13,467								17,097
Income before income taxes						34,715								45,682
Total other expense, net						3,864								4,147
Operating income	$	37,512		$	1,067	38,579			$	49,645	$	184		49,829
Non-cash charges:
Stock-based compensation expense	3,392			1,312		4,704			4,039		1,337			5,376
Depreciation and amortization	7,707			3,179		10,886			7,003		3,522			10,525
Gain (loss) on disposition of fixed assets	(49		)	—		(49		)	3		(1		)	2
Adjusted EBITDA	$	48,562		$	5,558	$	54,120		$	60,690	$	5,042		$	65,732

The net sales for each of HSNi's reportable segments are as follows (in thousands):