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WebMD Announces Fourth Quarter Financial Results
Date:2/18/2010

pense were $1,753 and $5,097 for the years ended December 31, 2009 and 2008, respectively, and $3,361 for the three months ended December 31, 2008.  There were no non-cash advertising expenses for the three months ended December 31, 2009.
  • Interest Income and Expense.  Interest income is associated with the level of marketable debt securities and other interest bearing accounts in which we invest, as well as with interest expense arising from our company’s capital structure (including non-cash interest expense relating to our convertible notes).  Interest income and expense varies over time due to a variety of financing transactions and due to acquisitions and divestitures that we have entered into or may enter into in the future.  We have, in the past, issued convertible debentures, repurchased shares in cash tender offers and repurchased shares and convertible debentures through other repurchase transactions, and completed the divestiture of certain businesses.  We exclude interest income and interest expense from Adjusted EBITDA (i) because these items are not directly attributable to the performance of our business operations and, accordingly, their exclusion assists management and investors in making period-to-period comparisons of operating performance and (ii) to assist management and investors in making comparisons to companies with different capital structures.  Investors should note that interest income and expense will recur in future periods.  The following provides detail of the components of interest expense of our convertible notes:

    
    
                                            
                               Three Months Ended       
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