v3.22.4
Segment Information
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
Beginning in the first quarter of 2022, we revised the presentation of segment information to reflect changes in the way we manage and evaluate our business. Effective January 1, 2022, we report our operating results through two reportable segments: A&C and Core. Previously we had a single operating and reportable segment.
Our chief operating decision maker (CODM), which, as of December 31, 2022, was our Chief Executive Officer, evaluates the performance of and allocates resources to our segments based on each segment's revenue and earnings before interest, taxes, depreciation and amortization (Segment EBITDA). Segment EBITDA is defined as segment revenues less costs and operating expenses, excluding depreciation and amortization, interest expense (net), provision or benefit for income taxes, equity-based compensation expense, acquisition-related costs, restructuring-related expenses and certain other items. We believe Segment EBITDA serves as a measure that assists our CODM and our investors in comparing our segments' performance on a consistent basis.
Our CODM does not use assets by segment to evaluate performance or allocate resources; therefore, we do not provide disclosure of assets by segment. See Note 2 for property, plant, and equipment, net as well as revenue disaggregated by geography.
The A&C and Core segments provide a view into the product-focused organization of our business and generate revenue as follows:
•A&C primarily consists of sales of products containing proprietary software, commerce products and third-party email and productivity solutions as well as sales of certain products when they are included in bundled offerings of our proprietary software products.
•Core primarily consists of sales of domain registrations and renewals, aftermarket domain sales, website hosting products and website security products when not included in bundled offerings of our proprietary software products as well as sales of products not containing a software component.
There are no internal revenue transactions between our reportable segments.
Corporate overhead primarily includes general and administrative expenses and items not allocated to either segment as well as those costs specifically excluded from Segment EBITDA, our segment measure of profitability, such as depreciation and amortization, interest expense and income and provision or benefit for income taxes.
The following table presents our segment information for the periods indicated:
 Year Ended December 31,
202220212020
Revenue:
A&C$1,279.7 $1,128.3 $926.1 
Core2,811.6 2,687.4 2,390.6 
Total revenue$4,091.3 $3,815.7 $3,316.7 
Segment EBITDA:
A&C$522.8 $447.7 $349.7 
Core783.7 679.7 628.2 
Total Segment EBITDA1,306.5 1,127.4 977.9 
Unallocated corporate overhead(293.5)(255.2)(255.7)
Depreciation and amortization(194.6)(199.6)(202.7)
Equity-based compensation expense(264.4)(207.9)(191.5)
Interest expense, net of interest income(135.0)(124.9)(86.9)
Tax receivable agreements liability adjustment— — (674.7)
Acquisition-related expenses(35.1)(78.2)(25.0)
Restructuring and other(1)
(27.4)(8.0)(36.8)
Income before income taxes356.5 253.6 (495.4)
Benefit (provision) for income taxes(3.6)(10.8)1.3 
Net income (loss)$352.9 $242.8 $(494.1)
_________________________________
(1)Includes lease-related expenses associated with closed facilities, charges related to certain legal matters, and expenses incurred in relation to the refinancing of our long-term debt.