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259878000 106235000 153643000 0.25 0.15 P3Y 0.125 P3Y P2Y 0.50 0.10 0.125 0.10 0.05 28200000 0.35 9400000 79700000 0.80 0.20 4600000 0.80 0.20 1200000 1.00 1600000 1500000 1.00 500000 0.50 0.50 0.50 3300000 1.00 1600000 1.00 2500000 0.45 0.10 0.45 1300000 1.00 1500000 1.00 1200000 3000000 0.60 0.40 94859000 72151000 86722000 12551000 197438000 463721000 17472000 4372000 14545000 35161000 4052000 539323000 15824000 96695000 44797000 3232000 111775000 129431000 401754000 13463000 1273000 19620000 436110000 62665000 94180000 33581000 0 340392000 530818000 16856000 3604000 13000000 36597000 2855000 603730000 33767000 72944000 43613000 0 110913000 150052000 411289000 13787000 1253000 20079000 446408000 426959000 52208000 236251000 42776000 446682000 15516000 228018000 9924000 30899000 -931000 0 -55266000 3841000 6309000 P10Y P10Y 1.00 1.00 P10Y P10Y At the lower of RMB1.00 (approximately $0.15) or the lowest purchase price permissible under PRC law P10Y P2Y P10Y P10Y P10Y P10Y P10Y P10Y 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7.62 7.62 11073000 11180000 4000 10000 82.59 14.25 25236495 32436495 8290000 10705000 24887823 8290000 2 3 2 3 2.8 0.01 0.12 0.12 0.01 0.14 8800000 2000000 10327500 20000000 4614098 15000000 2400000 -100000 2400000 -100000 -1700000 144963 81928 400000 800000 0 300000 700000 100000 1200000 0 0 0 0 300000 4000000 300000 300000 500000 800000 0 9000 18000 22000 44000 9500000 15000000 3400000 2100000 99456 -99456 -800000 -600000 0 0 2000000 2000000 6000000 25000000 100000 12000 100000 0 100000 P3M22D P4M6D P10M6D P5M1D P10Y P10Y P10Y P10Y P10Y 0.001 0.01 P9Y P4Y6M 253250 175000 3250 246000 12000 1524000 577000 10800000 7000000 100000 19500000 11073000 0.625 45.06 19.38 38.76 66.73 0.001 0.001 0.625 0.01 P4Y P4Y P4Y P4Y 4000 0 0.001 253250 175000 3250 178000 0 0 295000 2020-07-01 2020-10-19 2018-08-31 2024-06-30 2021-01-03 86078 0 100000 300000 2000 0 0 0 246000 280000 12000 577000 0 0 0 0 0.47 0.444 82.59 70.24 14.25 14.25 64.00 0 0 0 0 0.0214 0.0226 0.0252 5000 11000 10000 10000 584280 2886000 0.001 0.01 1500000 41500000 12000000 40300 11073000 11180000 9032000 349000 3.18 0.68 0.001 0.476 0.596 0.622 0.623 0.01 0.01 0.001 0 9000 0 0 246000 193000 7548672 7549000 9451000 2412000 2412000 3190000 577000 852000 0 3200000 125000 1893000 778000 570000 7200000 720000 5 10 10-Q false 2017-06-30 2017 Q2 SOHU COM INC 0001104188 --12-31 Yes Large Accelerated Filer SOHU 38867032 1.00 13704663 44900000 35112000 44152000 49733000 9458000 1124000 10338000 3586000 1347000 259000 3181000 158290000 36689000 17842000 1246000 2925000 0 284000 0 0 0 74000 59060000 1272000 0 315000 59000 0 0 0 0 0 0 1646000 8000 0 0 10000 0 0 0 0 0 0 18000 15162000 0 1092000 832000 0 45000 0 0 0 0 17131000 160863000 77589000 62122000 27117000 19726000 11544000 3586000 2519000 1467000 3661000 370194000 72620000 15595000 9736000 13833000 18602000 877000 0 1172000 1208000 406000 134049000 P10D 0.20 0.20 P10D 1.15 <p style="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="2%" valign="top" align="left"><b>5.</b></td> <td align="left" valign="top"><b>INTRA-GROUP LOAN AND SHARE PLEDGE AGREEMENT </b></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On October&nbsp;24, 2016, Beijing Sohu New Media Information Technology Co., Ltd. (&#147;Sohu Media&#148;), a subsidiary of Sohu, entered into a loan agreement (the &#147;Loan Agreement&#148;) with Beijing AmazGame Age Internet Technology Co., Ltd. (&#147;AmazGame&#148;), a subsidiary of Changyou, pursuant to which Sohu Media may borrow from time to time from AmazGame up to RMB1.00 billion (or approximately $144.9 million). The first request for an advance under the Loan Agreement was required to be made on or prior to December&nbsp;31, 2016, and requests for further advances may be made for one year following the initial advance. The one-year request period may be extended for another one-year period with the consent of AmazGame. Principal amounts outstanding under the Loan Agreement bear interest at an annual rate of 6%. The outstanding principal of each advance will be due one year from the date of the advance, subject to extension for an additional year with the consent of AmazGame. </p> <p style="font-size:1px;margin-top:10px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Also on October&nbsp;24, 2016, Sohu.com (Game) Limited (&#147;Sohu Game&#148;), a Cayman Islands company that is an indirect subsidiary of Sohu and is the direct parent of Changyou, and Changyou entered into a share pledge agreement (the &#147;Share Pledge Agreement&#148;) pursuant to which Sohu Game pledged to Changyou 11,386,228 Class B ordinary shares of Changyou held by Sohu Game. The number of Class B ordinary shares pledged by Sohu Game to Changyou is subject to upward adjustment from time to time while amounts are outstanding under the Loan Agreement if the price of Changyou&#146;s American depositary shares (&#147;ADSs&#148;) on the Nasdaq Global Select Market drops for at least 10 consecutive trading days by an amount of 20% or more from such price as of the date of the Share Pledge Agreement, and is subject to further upward adjustment in the event of any additional incremental drops of 20% or more in the price of Changyou&#146;s ADSs during 10 consecutive trading days. The share pledge agreement gives Changyou the right to apply the outstanding principal and accrued interest on the loan to the repurchase of Changyou Class B ordinary shares from Sohu Game in the event that such principal and interest under the Loan Agreement are not paid when due. As of June&nbsp;30, 2017, the number of Class B ordinary shares pledged by Sohu Game to Changyou was 13,704,663. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In December 2016,&nbsp;March 2017 and April 2017, Sohu Media received RMB500.0 million (or approximately $73.8 million), RMB200.0 million (or $29.5 million) and RMB 300.0&nbsp;million (or $44.3 million), respectively, from AmazGame. As of June&nbsp;30, 2017, the total outstanding balance of the loan was RMB1.00 billion (or $147.6 million). The intra-Group loan has been eliminated upon consolidation. </p> <p style="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="70%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>Three&nbsp;Months<br/>Ended&nbsp;June&nbsp;30,</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>Six&nbsp;Months<br/>Ended&nbsp;June&nbsp;30,</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"><b>Share-based compensation expense</b></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">For Sohu (excluding Sohu Video) share-based awards (1)&nbsp;(3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(618</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,445</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(890</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">For Sogou share-based awards (2)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">595</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">654</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,325</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4,991</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">For Changyou share-based awards (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,412</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">9,482</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,138</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">15,015</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">For Sohu Video share-based awards (1)&nbsp;(3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(845</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">99</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(596</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(99</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,544</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">12,680</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,977</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">19,909</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="60%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:48.00pt; font-size:8pt; font-family:Times New Roman"><b>As of June&nbsp;30,</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2018</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2019</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2020</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2021</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Thereafter</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Total<br/>Payments<br/>Required</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Purchase of cinema advertisement slot rights</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">35,112</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">72,620</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">36,689</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">15,162</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,272</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">8</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">160,863</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Purchase of content and services &#150; video</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">44,152</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">15,595</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">17,842</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">77,589</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Purchase of bandwidth</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">49,733</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">9,736</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,246</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,092</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">315</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">62,122</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating lease obligations</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">9,458</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">13,833</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,925</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">832</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">59</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">27,117</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Expenditures for operating rights for licensed games with technological feasibility</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,124</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">18,602</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">19,726</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Purchase of content and services &#150; others</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10,338</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">877</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">284</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">45</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11,544</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Purchase of fixed assets</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,586</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,586</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fees for operating rights for licensed games in development</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,347</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,172</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,519</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Expenditures for rights to titles of games in development</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">259</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,208</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,467</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Others</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,181</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">406</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">74</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,661</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total Payments Required</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">158,290</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">134,049</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">59,060</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">17,131</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,646</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">18</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">370,194</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="68%"></td> <td valign="bottom" width="9%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="9%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>As of</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>December&nbsp;31,&nbsp;2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>June&nbsp;30,&nbsp;2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sogou</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">165,584</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">188,879</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Changyou</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">398,631</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">446,792</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">144</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">564,215</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">635,815</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="68%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" align="center"><b>Three Months Ended</b></p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" align="center"><b>June&nbsp;30,</b></p></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" align="center"><b>Six Months Ended</b></p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" align="center"><b>June&nbsp;30,</b></p></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sogou</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,488</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">23,688</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">26,100</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">32,086</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Changyou</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10,744</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">16,478</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">21,363</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">25,986</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(35</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(46</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">16,232</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">40,131</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">47,463</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">58,026</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="font-size:1px;margin-top:18px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b>10. COMMITMENTS AND CONTINGENCIES </b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Contractual Obligations </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table sets forth our contractual obligations as of June&nbsp;30, 2017 (in thousands): </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="60%"></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="1%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:48.00pt; font-size:8pt; font-family:Times New Roman"><b>As of June&nbsp;30,</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2018</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2019</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2020</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2021</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Thereafter</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Total<br/>Payments<br/>Required</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Purchase of cinema advertisement slot rights</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">35,112</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">72,620</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">36,689</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">15,162</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,272</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">8</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">160,863</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Purchase of content and services &#150; video</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">44,152</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">15,595</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">17,842</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">77,589</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Purchase of bandwidth</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">49,733</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">9,736</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,246</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,092</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">315</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">62,122</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating lease obligations</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">9,458</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">13,833</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,925</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">832</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">59</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">27,117</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Expenditures for operating rights for licensed games with technological feasibility</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,124</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">18,602</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">19,726</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Purchase of content and services &#150; others</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10,338</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">877</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">284</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">45</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11,544</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Purchase of fixed assets</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,586</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,586</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fees for operating rights for licensed games in development</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,347</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,172</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,519</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Expenditures for rights to titles of games in development</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">259</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,208</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,467</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Others</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,181</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">406</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">74</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,661</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total Payments Required</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">158,290</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">134,049</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">59,060</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">17,131</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,646</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">18</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">370,194</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b></b><b><i>Litigation</i></b><b> </b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Sohu Group is a party to various litigation matters which it considers routine and incidental to its business. The Sohu Group records a liability when the likelihood of an unfavorable outcome is probable and the amount of loss can be reasonably estimated. The Sohu Group evaluates, on a regular basis, developments in litigation matters that could affect the amount of liability that has been previously accrued and makes adjustments as appropriate. Management believes that the total liabilities to the Sohu Group that may arise as a result of currently pending legal proceedings will not have a material adverse effect on the Group&#146;s business, results of operations, financial condition and cash flows. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b></b><b><i>PRC Law and Regulations</i></b><b> </b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Chinese market in which the Sohu Group operates poses certain macro-economic and regulatory risks and uncertainties. These uncertainties extend to the ability to operate an Internet business and to conduct brand advertising, search and search-related advertising, online game, and other services in the PRC. Though the PRC has, since 1978, implemented a wide range of market-oriented economic reforms, continued reforms and progress towards a full market-oriented economy are uncertain. In addition, the telecommunication, information, and media industries remain highly regulated. Restrictions are currently in place and are unclear with respect to which segments of these industries foreign-owned entities, like the Sohu Group, may operate. The Chinese government may issue from time to time new laws or new interpretations of existing laws to regulate areas such as telecommunication, information and media. The Sohu Group&#146;s legal structure and scope of operations in China could be subject to restrictions, which could result in limits on its ability to conduct business in the PRC. Certain risks related to PRC law that could affect the Sohu Group&#146;s VIE structure are discussed in Note 11 - VIEs. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Regulatory risks also encompass interpretation by PRC tax authorities of current tax law, including the applicability of certain preferential tax treatments. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Sohu Group&#146;s sales, purchase and expense transactions are generally denominated in RMB and a significant portion of its assets and liabilities are denominated in RMB. The RMB is not freely convertible into foreign currencies. In China, foreign exchange transactions are required by law to be transacted only by authorized financial institutions. Remittances in currencies other than RMB by its subsidiaries in China may require certain supporting documentation in order to effect the remittance. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b>15. IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS </b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Revenue from Contracts with Customers. In May 2014, the FASB issued ASU No.&nbsp;2014-09, &#145;&#145;Revenue from Contracts with Customers (Topic 606).&#146;&#146; This guidance supersedes current guidance on revenue recognition in Topic 605, &#145;&#145;Revenue Recognition.&#148; In addition, there are disclosure requirements related to the nature, amount, timing, and uncertainty of revenue recognition. In August 2015, the FASB issued ASU No.&nbsp;2015-14 to defer the effective date of ASU No.&nbsp;2014-09 for all entities by one year. For public business entities that follow U.S. GAAP, the deferral results in the new revenue standard are being effective for fiscal years, and interim periods within those fiscal years, beginning after December&nbsp;15, 2017, with early adoption permitted for interim and annual periods beginning after December&nbsp;15, 2016.&nbsp;The Sohu Group will apply the new revenue standard beginning January&nbsp;1, 2018, and will not early adopt. The Sohu Group has set up an implementation team that is currently in the process of analyzing each of the Sohu Group&#146;s revenue streams in accordance with the new revenue standard to determine the impact on the Group&#146;s consolidated financial statements. The Sohu Group plans to continue the evaluation, analysis, and documentation of its adoption of ASU 2014-09 (including those subsequently issued updates that clarify ASU 2014-09&#146;s provisions) throughout 2017 as the Sohu Group works towards the implementation and finalizes its determination of the impact that the adoption will have on its consolidated financial statements. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Recognition and Measurement of Financial Assets and Financial Liabilities. On January&nbsp;5, 2016, the FASB issued <i>ASU&nbsp;2016-01 (&#147;ASU 2016-01&#148;)</i>,&nbsp;Recognition and Measurement of Financial Assets and Financial Liabilities,&nbsp;which amends certain aspects of recognition, measurement, presentation and disclosure of financial instruments.&nbsp;This amendment requires all equity investments to be measured at fair value, with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). This standard&nbsp;will be effective for fiscal years beginning after December&nbsp;15, 2017, including interim periods within those fiscal years. The Sohu Group is currently evaluating the impact of adopting this standard on its consolidated financial statements. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Leases. On February&nbsp;25, 2016, the FASB issued <i>ASU No.&nbsp;2016-02 (&#147;ASU 2016-02&#148;), Leases</i>. <i>ASU 2016-02</i> specifies the accounting for leases. For operating leases, <i>ASU 2016-02</i> requires a lessee to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in its balance sheet. The standard also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term, on a generally straight-line basis. In addition, this standard requires both lessees and lessors to disclose certain key information about lease transactions. <i>ASU 2016-02</i> is effective for public companies for annual reporting periods, and interim periods within those years, beginning after December&nbsp;15, 2018. Early adoption is permitted. The Sohu Group is currently evaluating the impact of adopting this standard on its consolidated financial statements. </p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Compensation &#150; Stock Compensation. On March&nbsp;30, 2016, the FASB issued <i>ASU 2016-09 (&#147;ASU&nbsp;2016-09&#148;), Compensation &#150; Stock Compensation: Improvements to Employee Share-Based Payment Accounting</i>, which relates to the accounting for employee share-based payments. This standard addresses several aspects of the accounting for share-based payment award transactions, including: (a)&nbsp;income tax consequences; (b)&nbsp;classification of awards as either equity or liabilities; (c)&nbsp;classification on the statement of cash flows; and (d)&nbsp;accounting for forfeitures of share-based payments. This guidance became effective for reporting periods beginning after December&nbsp;15, 2016. The Group adopted this new guidance on January&nbsp;1, 2017. The Sohu Group elected to continue to account for forfeitures by estimating expected forfeitures, and this standard does not have a material impact on the Group&#146;s consolidated financial statements. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Financial Instruments-Credit Losses. In June 2016, the FASB issued Accounting Standards Update <i>(&#147;ASU&#148;) 2016-13,&nbsp;Financial Instruments-Credit Losses (Topic 326)</i>, which requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts.&nbsp;This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December&nbsp;15, 2019.&nbsp;Early application will be permitted for all entities for fiscal years, and interim periods within those fiscal years, beginning after December&nbsp;15, 2018.&nbsp;The Sohu Group is currently evaluating the impact that the standard will have on its consolidated financial statements and related disclosures. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Statement of Cash Flows &#150; Classification of Certain Cash Receipts and Cash Payments. In August 2016, the FASB issued Accounting Standards Update (&#147;ASU&#148;) 2016-15,<i> Statement of Cash Flows &#150; Classification of Certain Cash Receipts and Cash Payments,</i> which clarifies the presentation and classification of certain cash receipts and cash payments in the statement of cash flows. This guidance is effective for financial statements issued for fiscal years beginning after December&nbsp;15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Sohu Group is currently evaluating the impact that the standard will have on its consolidated financial statements and related disclosures. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Statement of Cash Flows (Topic&nbsp;230): Restricted Cash. In November 2016, the FASB issued Accounting Standards Update (&#147;ASU&#148;) No.&nbsp;2016-18, <i>Statement of Cash Flows (Topic&nbsp;230): Restricted Cash</i>. The guidance requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The standard is effective for fiscal years beginning after December&nbsp;15, 2017, and interim period within those fiscal years. Early adoption is permitted, including adoption in an interim period. The standard should be applied to each period presented using a retrospective transition method. The Sohu Group is currently evaluating the impact of adopting this standard on its consolidated financial statements. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Business Combinations (Topic&nbsp;805): Clarifying the Definition of a Business. In January 2017, the FASB issued Accounting Standards Update (&#147;ASU&#148;) No.&nbsp;2017-01, <i>Business Combinations (Topic&nbsp;805): Clarifying the Definition of a Business, which</i> clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. The standard is effective for fiscal years beginning after December&nbsp;15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The standard should be applied prospectively on or after the effective date. The Sohu Group will evaluate the impact of adopting this standard prospectively upon any transactions of acquisitions or disposals of assets or businesses. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Simplifying the Test for Goodwill Impairment. In January 2017, the FASB issued Accounting Standards Update (&#147;ASU&#148;) 2017-04, <i>&#147;Simplifying the Test for Goodwill Impairment.&#148;</i> The guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit&#146;s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The guidance should be adopted on a prospective basis for the annual or any interim goodwill impairment tests beginning after December&nbsp;15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January&nbsp;1, 2017. The Sohu Group is currently evaluating the impact of adopting this standard on its consolidated financial statements. </p> <p style="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="2%" valign="top" align="left"><b>3.</b></td> <td align="left" valign="top"><b>SHARE-BASED COMPENSATION EXPENSE </b></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sohu (excluding Fox Video Limited), Sogou, Changyou, and Fox Video Limited (&#147;Sohu Video&#148;) have incentive plans for the granting of share-based awards, including stock options, share options and restricted share units, to members of the boards of directors, management and other key employees. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Sohu (excluding Sohu Video), Sogou, and Changyou Share-based Awards </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For Sohu (excluding Sohu Video) stock options that Sohu granted before 2006 and Sohu restricted share units, Sogou share-based awards, and Changyou share-based awards under the Changyou 2008 Share Incentive Plan, share-based compensation expense is recognized as costs and expenses in the consolidated statements of comprehensive income based on the fair value of the related share-based awards on their grant dates. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For Tencent restricted share units that Tencent had granted to employees who transferred to Sogou with the Soso search and search-related businesses, share-based compensation expense is recognized in the consolidated statements of comprehensive income based on the then-current fair value at each reporting date. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Options for the purchase of Sohu common stock contractually granted under the Sohu 2010 Stock Incentive Plan and options for the purchase of Changyou Class&nbsp;A ordinary shares contractually granted under the Changyou 2014 Share Incentive Plan are subject to vesting in four equal installments over a period of four years, with each installment vesting upon satisfaction of a service period requirement and certain subjective performance targets. Under <i>ASC 718-10-25</i>, no grant date can be established until a mutual understanding is reached between the companies and the recipients clarifying the subjective performance requirements. In accordance with <i>ASC 718-10-55</i>, as the service inception date preceded the grant date, compensation expense was accrued beginning on the service inception date, and was re-measured and will be re-measured on each subsequent reporting date before the grant date is established, based on the then-current fair value of the awards. The estimate of the awards&#146; fair value will be fixed in the period in which the grant date occurs, and cumulative compensation expense will be adjusted based on the fair value at the grant date. In determining the fair value of stock options and share options granted by Sohu and Changyou, the public market price of the underlying shares at each reporting date was used, and a binomial valuation model was applied. </p> <p style="font-size:10pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For Sogou Class&nbsp;A Ordinary Shares repurchased by Sogou from the former President and Chief Financial Officer of the Sohu Group in the first quarter of 2017, share-based compensation expense is recognized by the Sohu Group in the consolidated statements of comprehensive income in an amount equal to the excess of the repurchase price over the fair value of the Sogou Class&nbsp;A Ordinary Shares at the repurchase date. </p> <p style="margin-top:16pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Sohu Video Share-based Awards </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On January&nbsp;4, 2012, Sohu Video, the holding entity of Sohu&#146;s video division, adopted a 2011 Share Incentive Plan (the &#147;Video 2011 Share Incentive Plan&#148;) which provides for the issuance of up to 25,000,000 ordinary shares of Sohu Video (representing approximately 10% of the outstanding Sohu Video shares on a fully-diluted basis) to management and key employees of the video division and to Sohu management. As of June&nbsp;30, 2017, grants of options for the purchase of 16,368,200 ordinary shares of Sohu Video had been contractually made, of which options for the purchase of 4,972,800 ordinary shares were vested. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For purposes of <i>ASC 718-10-25</i>, as of June&nbsp;30, 2017, no grant date had occurred, because the broader terms and conditions of the option awards had neither been finalized nor mutually agreed upon with the recipients. Therefore the fair value of the awards was not determinable and could not be accounted for. In accordance with <i>ASC 718-10-55</i>, the Group&#146;s management determined that the service inception date with respect to vested option awards for the purchase of 4,972,800 shares had preceded the grant date. Therefore, the Group recognized compensation expense for these vested Sohu Video share-based awards and re-measured, and will re-measure, the compensation expense on each subsequent reporting date based on the then-current fair values of these vested awards until the grant date is established. </p> <p style="margin-top:16pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Share-based Compensation Expense Recognition </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Share-based compensation expense was recognized in costs and expenses for the three and six months ended June&nbsp;30, 2016 and the three and six months ended June&nbsp;30, 2017 as follows (in thousands): </p> <p style="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="70%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>Three&nbsp;Months<br/>Ended&nbsp;June&nbsp;30,</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>Six&nbsp;Months<br/>Ended&nbsp;June&nbsp;30,</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"><b>Share-based compensation expense</b></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cost of revenues (1)&nbsp;(3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(56</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">228</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">414</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Product development expenses (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,699</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4,925</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,696</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7,252</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sales and marketing expenses (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">161</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">930</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">175</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,595</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General and administrative expenses (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">740</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">6,597</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,107</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10,648</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,544</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">12,680</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,977</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">19,909</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Share-based compensation expense was recognized for share awards of Sohu (excluding Sohu Video), Sogou, Changyou and Sohu Video as follows (in thousands): </p> <p style="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="70%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>Three&nbsp;Months<br/>Ended&nbsp;June&nbsp;30,</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>Six&nbsp;Months<br/>Ended&nbsp;June&nbsp;30,</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"><b>Share-based compensation expense</b></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">For Sohu (excluding Sohu Video) share-based awards (1)&nbsp;(3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(618</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,445</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(890</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">For Sogou share-based awards (2)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">595</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">654</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,325</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4,991</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">For Changyou share-based awards (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,412</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">9,482</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,138</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">15,015</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">For Sohu Video share-based awards (1)&nbsp;(3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(845</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">99</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(596</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(99</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,544</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">12,680</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,977</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">19,909</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="font-size:1px;margin-top:10px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Note (1): The negative amount represented re-measured compensation expense based on the then-current fair value of the awards on the reporting date, as well as reversals of share-based compensation expense for awards that were forfeited due to termination of employment prior to vesting. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Note (2): Compensation expense for Sogou share-based awards also includes compensation expense for Tencent restricted share units that Tencent had granted to employees who transferred to Sogou with the Soso search and search-related businesses and compensation expense of $4.0 million, recognized in the first quarter of 2017 in connection with Sogou&#146;s repurchase of Sogou Class&nbsp;A Ordinary Shares from the former President and Chief Financial Officer of the Sohu Group, which is equal to the excess of the repurchase price over the fair value of the Sogou Class&nbsp;A Ordinary Shares as of the repurchase date. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Note (3): The differences for the three and six months ended June&nbsp;30, 2017 compared to the corresponding periods of 2016 were mainly due to differences in the fair values of certain awards as of the respective reporting dates, as well as reversals of share-based compensation expense for awards that were forfeited due to termination of employment prior to vesting. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">There was no capitalized share-based compensation expense for the three and six months ended June&nbsp;30, 2016 and 2017. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For details of the share-based compensation expenses of the Sohu Group, see Note 12. </p> <p style="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b>14. NET INCOME /(LOSS) PER SHARE </b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Basic net income /(loss) per share is computed using the weighted average number of common shares outstanding during the period. Diluted net income /(loss) per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares comprise shares issuable upon the exercise or settlement of share-based awards using the treasury stock method. The dilutive effect of share-based awards with performance requirements is not considered before the performance targets are actually met. The computation of diluted net income /(loss) per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect (i.e. an increase in earnings per share amounts or a decrease in loss per share amounts) on net income /(loss) per share. For the three and six months ended June&nbsp;30, 2017, 270,805 and 286,725, respectively, common shares potentially issuable upon the exercise or settlement of share-based awards using the treasury stock method were anti-dilutive and excluded from the denominator for calculation of diluted net loss per share. For the three and six months ended June&nbsp;30, 2016, 244,000 and 255,000, respectively, common shares potentially issuable upon the exercise or settlement of share-based awards using the treasury stock method were anti-dilutive and excluded from the denominator for calculation of diluted net loss per share. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Additionally, for purposes of calculating the numerator of diluted net income /(loss) per share, the net income /(loss) attributable to Sohu.com Inc. is adjusted as follows. The adjustment will not be made if there is an anti-dilutive effect. </p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="4%" valign="top" align="left">(i)</td> <td align="left" valign="top">Sogou&#146;s net income /(loss) attributable to Sohu.com Inc. is determined using the percentage that the weighted average number of Sogou shares held by Sohu.com Inc. represents of the weighted average number of Sogou Preferred Shares and Ordinary Shares, shares issuable upon the conversion of convertible preferred shares under the if-converted method, and shares issuable upon the exercise or settlement of share-based awards under the treasury stock method, and is not determined by allocating Sogou&#146;s net income /(loss) to Sohu.com Inc. using the methodology for the calculation of net income /(loss) attributable to the Sogou noncontrolling shareholders discussed in Note 13 - Noncontrolling Interest. </td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In the calculation of Sohu.com Inc.&#146;s diluted net income /(loss) per share, assuming a dilutive effect, the percentage of Sohu.com Inc.&#146;s shareholding in Sogou was calculated by treating convertible preferred shares issued by Sogou as having been converted at the beginning of the period and unvested Sogou share options with the performance targets achieved as well as vested but unexercised Sogou share options as having been exercised during the period. The dilutive effect of share-based awards with a performance requirement was not considered before the performance targets were actually met. The effect of this calculation is presented as &#147;incremental dilution from Sogou&#148; in the table below. Assuming an anti-dilutive effect, all of these Sogou shares and share options are excluded from the calculation of Sohu.com Inc.&#146;s diluted income /(loss) per share. As a result, Sogou&#146;s net income /(loss) attributable to Sohu.com Inc. on a diluted basis equals the number used for the calculation of Sohu.com Inc.&#146;s basic net income /(loss) per share. </p> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">For the three and six months ended June&nbsp;30, 2017, all of these Sogou shares and share options had an anti-dilutive effect, and therefore were excluded from the calculation of Sohu.com Inc.&#146;s diluted net income /(loss) per share, and &#147;incremental dilution from Sogou&#148; in the table below was zero. </p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="4%" valign="top" align="left">(ii)</td> <td align="left" valign="top">Changyou&#146;s net income /(loss) attributable to Sohu.com Inc. is determined using the percentage that the weighted average number of Changyou shares held by Sohu.com Inc. represents of the weighted average number of Changyou ordinary shares and shares issuable upon the exercise or settlement of share-based awards under the treasury stock method, and not by using the percentage held by Sohu.com Inc. of the total economic interest in Changyou, which is used for the calculation of basic net income per share. </td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In the calculation of Sohu.com Inc.&#146;s diluted net income /(loss) per share, assuming a dilutive effect, all of Changyou&#146;s existing unvested restricted share units and share options, and vested restricted share units and share options that have not yet been settled, are treated as vested and settled by Changyou under the treasury stock method, causing the percentage of the weighted average number of shares held by Sohu.com Inc. in Changyou to decrease. As a result, Changyou&#146;s net income /(loss) attributable to Sohu.com Inc. on a diluted basis decreased accordingly. The effect of this calculation is presented as &#147;incremental dilution from Changyou&#148; in the table below. Assuming an anti-dilutive effect, all of these Changyou restricted share units and share options are excluded from the calculation of Sohu.com Inc.&#146;s diluted net income /(loss) per share. As a result, Changyou&#146;s net income /(loss) attributable to Sohu.com Inc. on a diluted basis equals the number used for the calculation of Sohu.com Inc.&#146;s basic net income /(loss) per share. </p> <p style="font-size:1px;margin-top:6px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">For the three and six months ended June&nbsp;30, 2017, all of these Changyou restricted share units and share options had a dilutive effect, and therefore were included in the calculation of Sohu.com Inc.&#146;s diluted net income /(loss) per share. This impact is presented as &#147;incremental dilution from Changyou&#148; in the table below. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table presents the calculation of the Sohu Group&#146;s basic and diluted net loss per share (in thousands, except per share data). </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="63%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" align="center"><b>Three&nbsp;Months&nbsp;Ended</b></p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" align="center"><b>June&nbsp;30,</b></p></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center"><b>Six&nbsp;Months&nbsp;Ended<br/>June&nbsp;30,</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016 </b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Numerator:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net loss attributable to Sohu.com Inc., basic</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(63,024</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(88,183</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(83,310</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(156,431</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of dilutive securities:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Incremental dilution from Sogou</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Incremental dilution from Changyou</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(362</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(515</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(653</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(931</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net loss attributable to Sohu.com Inc., diluted</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(63,386</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(88,698</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(83,963</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(157,362</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Denominator:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Weighted average basic shares of common stock outstanding</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,691</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,855</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,678</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,833</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of dilutive securities:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share options and restricted share units</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Weighted average diluted common shares outstanding</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,691</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,855</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,678</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,833</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Basic net loss per share attributable to Sohu.com Inc.</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1.63</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(2.27</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(2.15</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(4.03</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Diluted net loss per share attributable to Sohu.com Inc.</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1.64</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(2.28</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(2.17</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(4.05</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="2%" valign="top" align="left"><b>6.</b></td> <td align="left" valign="top"><b>FAIR VALUE MEASUREMENTS </b></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Fair Value of Financial Instruments </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Sohu Group&#146;s financial instruments include cash equivalents, short-term investments, accounts receivable, assets held for sale, prepaid and other current assets, long-term investments (including available-for-sale equity securities), restricted time deposits, accounts payable, accrued liabilities, receipts in advance and deferred revenue, short-term bank loans, liabilities held for sale, other short-term liabilities and long-term accounts payable. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. GAAP establishes a three-tier hierarchy to prioritize the inputs used in the valuation methodologies in measuring the fair value of financial instruments. This hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three-tier fair value hierarchy is: </p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Level 1 - observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. </p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Level 2 - include other inputs that are directly or indirectly observable in the market place. </p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Level 3 - unobservable inputs which are supported by little or no market activity. </p> <p style="margin-top:16pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Financial Instruments Measured at Fair Value </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table sets forth the financial instruments, measured at fair value, by level within the fair value hierarchy as of December&nbsp;31, 2016 (in thousands): </p> <p style="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="58%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="10" align="center" style="border-bottom:1.00pt solid #000000"><b>Fair&nbsp;value&nbsp;measurements&nbsp;at&nbsp;reporting&nbsp;date&nbsp;using</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:19.05pt; font-size:8pt; font-family:Times New Roman"><b>Items</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>As of<br/>December&nbsp;31,<br/>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Quoted&nbsp;Prices<br/>in&nbsp;Active Markets<br/>for&nbsp;Identical&nbsp;Assets<br/>(Level 1)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Significant<br/>Other&nbsp;Observable<br/>Inputs<br/>(Level 2)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Significant<br/>Unobservable<br/>Inputs<br/>(Level 3)</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash equivalents</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">626,697</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">626,697</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Short-term investments</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">247,926</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">247,926</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Available-for-sale equity securities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10,381</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10,381</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Foreign exchange forward contracts recognized in prepaid and other current assets</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,040</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,040</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restricted time deposits</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">269</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">269</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">888,313</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">10,381</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">877,932</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table sets forth the financial instruments, measured at fair value by level within the fair value hierarchy, as of June&nbsp;30, 2017 (in thousands): </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="59%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="10" align="center" style="border-bottom:1.00pt solid #000000"><b>Fair&nbsp;value&nbsp;measurements&nbsp;at&nbsp;reporting&nbsp;date&nbsp;using</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:19.05pt; font-size:8pt; font-family:Times New Roman"><b>Items</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>As of<br/>June 30,<br/>2017</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Quoted&nbsp;Prices<br/>in&nbsp;Active Markets<br/>for&nbsp;Identical&nbsp;Assets<br/>(Level 1)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Significant<br/>Other&nbsp;Observable<br/>Inputs<br/>(Level 2)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Significant<br/>Unobservable<br/>Inputs<br/>(Level 3)</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash equivalents</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">463,000</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">463,000</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Short-term investments</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">308,928</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">308,928</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Available-for-sale equity securities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">9,130</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">9,130</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restricted time deposits</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">269</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">269</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total Assets</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">781,327</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">9,130</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">772,197</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Foreign exchange forward contracts recognized in other short-term liabilities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">670</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">670</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Cash Equivalents </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Sohu Group&#146;s cash equivalents mainly consist of time deposits with original maturities of three months or less, and highly liquid investments that are readily convertible to known amounts of cash. The fair values of cash equivalents are determined based on the pervasive interest rates in the market. The Group classifies the valuation techniques that use the pervasive interest rates input as Level 2 of fair value measurements. Generally there are no quoted prices in active markets for identical cash equivalents at the reporting date. In order to determine the fair value, the Group must use the discounted cash flow method and observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Short-term Investments </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017 and December&nbsp;31, 2016, the Sohu Group&#146;s investment in financial instruments was $308.9 million and $247.9 million, respectively. The investment instruments were issued by commercial banks in China, and have a variable interest rate indexed to performance of underlying assets. Since these investments&#146; maturity dates are within one year, they are classified as short-term investments. For the three and six months ended June&nbsp;30, 2017, the Sohu Group recorded in the consolidated statements of comprehensive income changes in the fair value of short-term investments in the amounts of $3.1 million and $5.7 million, respectively. For the three and six months ended June&nbsp;30, 2016, the Sohu Group recorded in the consolidated statements of comprehensive income changes in the fair value of short-term investments in the amounts of $1.0 million and $2.5 million, respectively. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In accordance with <i>ASC 825</i>, for investments in financial instruments with a variable interest rate indexed to performance of underlying assets, the Sohu Group elected the fair value method at the date of initial recognition and carried these investments at fair value. Changes in the fair value are reflected in the consolidated statements of comprehensive income as other income /(expense). To estimate fair value, the Group refers to the quoted rate of return provided by banks at the end of each period using the discounted cash flow method. The Group classifies the valuation techniques that use these inputs as Level 2 of fair value measurements. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Available-for-Sale Equity Securities </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Available-for-sale equity securities are valued using the market approach based on the quoted prices in active markets at the reporting date. The Group classifies the valuation techniques that use these inputs as Level 1 of fair value measurements. On August&nbsp;12, 2014, Sohu acquired approximately 6% of the total outstanding common shares of Keyeast Co., Ltd., a Korean-listed company (&#147;Keyeast&#148;), for a purchase price of $15.1 million. The Sohu Group classified this investment as available-for-sale equity securities under long-term investments, and reported it at fair value. As of June&nbsp;30, 2017, the fair value of the Keyeast available-for-sale equity securities held by Sohu was $9.1 million. An unrealized loss representing the change in fair value of $5.9 million was recorded in accumulated other comprehensive income /(loss) in the Sohu Group&#146;s consolidated balance sheets. </p> <p style="font-size:1px;margin-top:18px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Assets and Liabilities Held for Sale </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In 2016, Changyou&#146;s Board of Directors approved the disposal of the 51% equity interest in MoboTap. Accordingly, the assets and liabilities attributable to MoboTap are classified as assets and liabilities held for sale and measured at the lower of their carrying amounts or their fair value, less cost to sell, in the Sohu Group&#146;s consolidated balance sheet as of December&nbsp;31, 2016. Due to the suspension of negotiations with a potential buyer of MoboTap in the first quarter of 2017, Changyou&#146;s management determined that the disposal is unlikely to be completed within one year. As a result, the assets held for sale and liabilities held for sale related to MoboTap were reclassified and have been recorded as assets and liabilities held for use and measured at the lower of the carrying value before MoboTap was classified as held for sale, adjusted for any depreciation and amortization expense that would have been recognized had the assets and liabilities been continuously classified as held for use, or their fair value as of the reclassification date, respectively, in the Sohu Group&#146;s consolidated balance sheet since the reclassification date. In the first quarter of 2017, Changyou recorded a $1.4 million expense in the consolidated statements of comprehensive income for catch-up of depreciation and amortization expense of the assets held for sale before the reclassification. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Foreign Exchange Forward Contracts </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In September 2016 and January 2017, Changyou entered into foreign exchange forward contracts with banks in an aggregate nominal amount of $100 million and $50 million, respectively. Changyou entered into the foreign exchange forward contracts in compliance with its risk management policy for the purpose of eliminating the negative impact on earnings and equity resulting from fluctuations in the exchange rate between the U.S. dollar and the RMB. There was no cash collateral or settlement under the forward contracts as of June&nbsp;30, 2017. For the three and six months ended June&nbsp;30, 2017, the Sohu Group recorded loss from changes in the fair value of the forward contracts of $3.2 million and $3.7 million, respectively, in the consolidated statements of comprehensive income. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Group estimated the fair values of foreign exchange forward contracts using the Black-Scholes model. The fair values of the forward contracts were estimated based on quoted forward exchange prices at the reporting date. The Group classifies the fair value measurement of the forward contracts based on such inputs as Level 2 of fair value measurements. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Other Financial Instruments </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The fair values of other financial instruments are estimated for disclosure purposes as follows: </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Long-term Investments </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Long-term Investment in Fox Financial </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under an agreement between Sohu and Fox Financial entered into in August 2014, Sohu invested $4.8 million and $16.1 million in Fox Financial on August 2014 and April 2015, respectively. In February 2016, Sohu invested an additional $10.5 million in Fox Financial. Sohu accounted for its investments in Fox Financial under long-term investments. These investments include both preferred shares and common shares. Sohu accounted for its investment in Fox Financial&#146;s preferred shares under the cost method, since they were not considered to be common shares in substance and had no readily determinable fair value. Sohu accounted for its investment in Fox Financial&#146;s common shares under the equity method, since Sohu can exercise significant influence but does not own a majority of Fox Financial&#146;s equity capital or control Fox Financial. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In March 2017, Fox Financial issued additional common shares to new investors, while shares held by Sohu remained unchanged. As a result, Sohu&#146;s shareholding percentage of common shares was diluted from 7% to 6%. In accordance with <i>ASC 320-10-40</i>, the Group recognized dilution gain of $0.7 million in other income in the first quarter of 2017. As of June&nbsp;30, 2017, the carrying value of Sohu&#146;s investment in Fox Financial was $25.4 million. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Long-term Investment in Zhihu </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017, Sogou had invested a cumulative total of $18.9 million in Zhihu Technology Limited (&#147;Zhihu&#148;), a company that engages primarily in the business of operating an online question and answer-based knowledge and information-sharing platform. Sogou accounted for the investment in Zhihu using the cost method, since Sogou does not have significant influence over Zhihu and the underlying shares are not considered in-substance common stock. </p> <p style="font-size:1px;margin-top:18px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Short-term Receivables and Payables </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Accounts receivable and prepaid and other current assets are financial assets with carrying values that approximate fair value due to their short-term nature. Short-term accounts payable, accrued liabilities, receipts in advance and deferred revenue, short- term bank loans and other short-term liabilities are financial liabilities with carrying values that approximate fair value due to their short-term nature. For short-term receivables and payables, the Group estimated fair values using the discounted cash flow method. The Group classifies the valuation technique as Level 2 of fair value measurements. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Short-term Bank Loans </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For short-term bank loans, the rates of interest under the agreements with the lending banks were determined based on the prevailing interest rates in the market. The Sohu Group estimated fair values using the discounted cash flow method and classifies the valuation techniques that use these inputs as Level 2 of fair value measurements. </p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Factoring contract with recourse with HongKong and Shanghai Banking Corporation Limited (&#147;HSBC&#148;) </td></tr></table> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In May 2017, Sohu entered into a one year factoring contract with recourse with HSBC, pursuant to which Sohu may borrow from HSBC from time to time up to a combined aggregate of RMB180.0 million (or $26.6 million), which is the upper limit reviewed by HSBC at least annually. The loan is secured by up to RMB198.0 million (or $29.2 million) of Sohu&#146;s accounts receivable and guaranteed by Sohu Media. Interest will accrue on the principal amounts of the loans outstanding at an annual rate published by the People&#146;s Bank of China (the &#147;PBOC&#148;). As of June&nbsp;30, 2017, the total outstanding balance of the loan was RMB50.9 million (or $7.5 million), which is secured by a pledge of accounts receivable equal to 110% of this amount. </p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Credit agreements with Ping An Bank Co., Ltd. (&#147;Ping An Bank&#148;) </td></tr></table> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In May 2017, Sohu entered into credit agreements with Ping An Bank. pursuant to which Sohu will be entitled to borrow from Ping An Bank from time to time until May&nbsp;18, 2020 up to a combined aggregate of RMB2.50 billion (or $369.0 million). The loan is secured by pledges of Sohu&#146;s two buildings and guaranteed by Sohu.com (Game) Limited (&#147;Sohu Game&#148;). Interest will accrue on the principal amounts of the loans outstanding at an annual rate equal to 115% of the rate published by the PBOC. As of June&nbsp;30, 2017, there was no outstanding loan balance under the credit agreements. In July 2017, Sohu entered into an amendment of its loan arrangements with Ping An Bank, pursuant to which interest on outstanding principal amounts will accrue at a rate designated separately upon each drawdown based on the benchmark loan rate published by the PBOC with reference to then prevailing market interest rates. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Long-term Payables </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Long-term accounts payable are financial liabilities with carrying values that approximate fair value due to any changes in fair value, after considering the discount rate, being immaterial. For long-term accounts payable, the Group estimated fair values using the discounted cash flow method. The Sohu Group classifies the valuation technique as Level 2 of fair value measurements. </p> <p style="font-size:1px;margin-top:14px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b>8. GOODWILL </b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Changes in the carrying value of goodwill by segment are as follows (in thousands): </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="63%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Sohu</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Sogou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Changyou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Total</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Balance as of December&nbsp;31, 2016</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Goodwill</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">72,011</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">5,565</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">96,949</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">174,525</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accumulated impairment losses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(35,788</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(70,447</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(106,235</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">36,223</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,565</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">26,502</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">68,290</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transactions in 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Goodwill associated with MoboTap and reclassification of assets held for sale to assets held for use (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">83,470</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">83,470</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Goodwill associated with an acquisition</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,000</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,000</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Foreign currency translation adjustment</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">359</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">133</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">391</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">883</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Balance as of June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">37,582</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,698</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">110,363</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">153,643</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Balance as of June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Goodwill</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">73,370</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,698</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">180,810</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">259,878</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accumulated impairment losses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(35,788</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(70,447</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(106,235</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">37,582</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,698</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">110,363</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">153,643</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Note (1): Represents goodwill associated with the reclassification of assets held for sale to assets held for use in connection with MoboTap. See Note 6 &#150; Fair Value Measurements. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b>9. TAXATION </b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sohu.com Inc. is subject to United States (&#147;U.S.&#148;) income tax, and Changyou&#146;s income that is from a U.S. source is generally subject to U.S. income tax. The majority of the subsidiaries and VIEs of the Sohu Group are based in mainland China and are subject to income taxes in the PRC. These China-based subsidiaries and VIEs conduct substantially all of the Sohu Group&#146;s operations, and generate most of the Sohu Group&#146;s income or losses. </p> <p style="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="2%" valign="top" align="left"><b>PRC</b></td> <td align="left" valign="top"><b>Corporate Income Tax </b></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Principal Entities Qualified as HNTEs </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The PRC Corporate Income Tax Law (the &#147;CIT Law&#148;) applies an income tax rate of 25% to all enterprises but grants preferential tax treatment to High and New Technology Enterprises (&#147;HNTEs&#148;). Under this preferential tax treatment, HNTEs can enjoy an income tax rate of 15%, but need to re-apply every three years. During this three-year period, an HNTE must conduct a qualification self-review each year to ensure it meets the HNTE criteria and is eligible for the 15% preferential tax rate for that year. If an HNTE fails to meet the criteria for qualification as an HNTE in any year, the enterprise cannot enjoy the 15% preferential tax rate in that year, and must instead use the regular 25% CIT rate. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017, the following principal entities of the Sohu Group were qualified as HNTEs and were entitled to an income tax rate of 15%. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>For Sohu&#146;s Business </i></p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="5%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Beijing Sohu New Momentum Information Technology Co., Ltd. (&#147;Sohu New Momentum&#148;). Sohu New Momentum qualified as an HNTE for the years 2016 to 2018, and will need to re-apply for HNTE qualification in 2019. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="5%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Beijing Sohu Internet Information Service Co., Ltd. (&#147;Sohu Internet&#148;). Sohu Internet qualified as an HNTE for the years 2015 to 2017, and will need to re-apply for HNTE qualification in 2018. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="5%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Beijing Sohu New Era Information Technology Co., Ltd. (&#147;Sohu Era&#148;), Sohu Media and Guangzhou Qianjun Network Technology Co., Ltd (&#147;Guangzhou Qianjun&#148;). Sohu Era, Sohu Media and Guangzhou Qianjun were each qualified as HNTEs for the years 2014 to 2016. Sohu Media and Guangzhou Qianjun will re-apply for HNTE qualification in the third quarter of 2017. </td></tr></table> <p style="font-size:1px;margin-top:18px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>For Sogou&#146;s Business </i></p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="5%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Beijing Sogou Information Service Co., Ltd. (&#147;Sogou Information&#148;). Sogou Information qualified as an HNTE for the years 2015 to 2017, and will need to re-apply for HNTE qualification in 2018. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="5%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Beijing Sogou Technology Development Co., Ltd. (&#147;Sogou Technology&#148;). Sogou Technology qualified as an HNTE for the years 2014 to 2016, and will need to re-apply for HNTE qualification in the third quarter of 2017. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="5%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Beijing Sogou Network Technology Co., Ltd. (&#147;Sogou Network&#148;). Sogou Network qualified as an HNTE for the years 2016 to 2018, and will need to re-apply for HNTE qualification in 2019. </td></tr></table> <p style="margin-top:16pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>For Changyou&#146;s Business </i></p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="5%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Beijing AmazGame Age Internet Technology Co., Ltd. (&#147;AmazGame&#148;) and Beijing Gamease Age Digital Technology Co., Ltd. (&#147;Gamease&#148;). AmazGame and Gamease were both qualified as HNTEs for the years 2014 to 2016, and will need to re-apply for HNTE qualification in the third quarter of 2017. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="5%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Beijing Changyou Gamespace Software Technology Co., Ltd. (&#147;Gamespace&#148;). Gamespace qualified as HNTE for the years 2017 to 2019, and will need to re-apply for HNTE qualification in 2020. </td></tr></table> <p style="margin-top:16pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b></b><b><i>Principal Entities Qualified as Software Enterprises and KNSEs</i></b><b> </b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The CIT Law and its implementing regulations provide that a &#147;Software Enterprise&#148; is entitled to an income tax exemption for two years beginning with its first profitable year and a 50% reduction to a rate of 12.5% for the subsequent three years. An entity that qualifies as a &#147;Key National Software Enterprise&#148; (a &#147;KNSE&#148;) is entitled to a further reduced preferential income tax rate of 10%. Enterprises wishing to enjoy the status of a Software Enterprise or a KNSE must perform a self-assessment each year to ensure they meet the criteria for qualification and file required supporting documents with the tax authorities before using the preferential CIT rates. These enterprises will be subject to the tax authorities&#146; assessment each year as to whether they are entitled to use the relevant preferential CIT treatments. If at any time during the preferential tax treatment years an enterprise uses the preferential CIT rates but the relevant authorities determine that it fails to meet applicable criteria for qualification, the relevant authorities may revoke the enterprise&#146;s Software Enterprise/KNSE status. </p> <p style="margin-top:16pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>For Sohu&#146;s Business </i></p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="5%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Sohu New Momentum. In the second quarter of 2017, Sohu New Momentum completed a self-assessment and filed required supporting documents to entitle it to the first year of an income tax rate reduction from 25% to 12.5% as a Software Enterprise for 2016, and will follow the same process in 2018 to entitle it to the second year of an income tax rate reduction from 25% to 12.5%. </td></tr></table> <p style="margin-top:16pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>For Sogou&#146;s Business </i></p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="5%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Sogou Technology. In the second quarter of 2017, Sogou Technology completed a self-assessment and filed required supporting documents for KNSE status for 2016, and will follow the same process in 2018 for KNSE status for 2017. </td></tr></table> <p style="margin-top:16pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>For Changyou&#146;s Business </i></p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="5%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">AmazGame. In the second quarter of 2017, AmazGame completed a self-assessment and filed required supporting documents for KNSE status for 2016, and will follow the same process in 2018 for KNSE status for 2017. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="5%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Baina (Wuhan) Information Technology Co., Ltd. (&#147;Wuhan Baina Information&#148;). In the second quarter of 2017, Wuhan Baina Information completed a self-assessment and filed required supporting documents to entitle it to the first year of an income tax exemption as a Software Enterprise for 2016, and will follow the same process in 2018 to entitle it to the second year of an income tax exemption for 2017. </td></tr></table> <p style="font-size:1px;margin-top:16px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>PRC Withholding Tax on Dividends </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The CIT Law imposes a 10% withholding income tax on dividends distributed by foreign invested enterprises in the PRC to their immediate holding companies outside Mainland China. A lower withholding tax rate may be applied if there is a tax treaty between Mainland China and the jurisdiction of the foreign holding company. A holding company in Hong Kong, for example, will be subject to a 5% withholding tax rate under an arrangement between the PRC and the Hong Kong Special Administrative Region on the &#147;Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income and Capital,&#148; if such holding company is considered a non-PRC resident enterprise and holds at least 25% of the equity interests in the PRC foreign invested enterprise distributing the dividends, subject to approval of the PRC local tax authority. However, if the Hong Kong holding company is not considered to be the beneficial owner of such dividends under applicable PRC tax regulations, such dividend will remain subject to a withholding tax rate of 10%. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In order to fund the distribution of a dividend to shareholders of the Sohu Group&#146;s majority-owned subsidiary Changyou, Changyou&#146;s management determined to cause one of its PRC subsidiaries to declare and distribute a cash dividend of all of its stand-alone 2012 earnings and half of its stand-alone subsequent years&#146; earnings to its direct overseas parent company, Changyou.com (HK) Limited (&#147;Changyou HK&#148;). As of June&nbsp;30, 2017, Changyou had accrued deferred tax liabilities in the amount of $28.2 million for PRC withholding tax. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With the exception of that dividend, the Sohu Group does not intend to have any of its PRC subsidiaries distribute any undistributed profits of such subsidiaries to their direct overseas parent companies, but rather intends that such profits will be permanently reinvested by such subsidiaries for their PRC operations. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>PRC Value-Added Tax </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On May&nbsp;1, 2016, transition from the imposition of PRC business tax (&#147;Business Tax&#148;) to the imposition of value-added tax (&#147;VAT&#148;) was expanded to all industries in China, and as a result all of the Sohu Group&#146;s revenues have been subject to VAT since that date. To record VAT payable, the Group adopted the net presentation method, which presents the difference between the output VAT (at a rate of 6%) and the available input VAT amount (at the rate applicable to the supplier). </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>U.S. Corporate Income Tax </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sohu.com Inc. is a Delaware corporation that is subject to U.S. corporate income tax on its taxable income at a rate of up to 35%. To the extent that portions of its U.S. taxable income, such as Subpart F income or a dividend, are determined to be from sources outside of the U.S., subject to certain limitations, Sohu.com Inc. may be able to claim foreign tax credits to offset its U.S. income tax liabilities. Any remaining liabilities are accrued in the Company&#146;s consolidated statements of comprehensive income and estimated tax payments are made when required by U.S. law. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Uncertain Tax Positions </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Sohu Group is subject to various taxes in different jurisdictions, primarily the U.S. and the PRC. Management reviews regularly the adequacy of the provisions for taxes as they relate to the Group&#146;s income and transactions. In order to assess uncertain tax positions, the Group applies a more likely than not threshold and a two-step approach for tax position measurement and financial statement recognition. For the two-step approach, the first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely to be realized upon settlement. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Group did not have any significant penalties or significant interest associated with tax positions for the three and six months ended June&nbsp;30, 2017, nor did the Group have any significant unrecognized uncertain tax positions for the three and six months ended June&nbsp;30, 2017. </p> <p style="font-size:1px;margin-top:16px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b>13. NONCONTROLLING INTEREST </b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The noncontrolling interests in the Sohu Group&#146;s consolidated financial statements primarily consist of noncontrolling interests for Sogou and Changyou. </p> <p style="margin-top:16pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Noncontrolling Interest in the Consolidated Balance Sheets </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017 and December&nbsp;31, 2016, noncontrolling interest in the consolidated balance sheets was $635.8 million and $564.2 million, respectively. </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="68%"></td> <td valign="bottom" width="9%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="9%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>As of</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>December&nbsp;31,&nbsp;2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>June&nbsp;30,&nbsp;2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sogou</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">165,584</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">188,879</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Changyou</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">398,631</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">446,792</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">144</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">564,215</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">635,815</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Noncontrolling Interest of Sogou </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017 and December&nbsp;31, 2016, noncontrolling interest of Sogou of $188.9 million and $165.6 million, respectively, was recognized in the Sohu Group&#146;s consolidated balance sheets, representing Sogou&#146;s cumulative results of operations attributable to shareholders other than Sohu.com Inc., and reflecting the reclassification of Sogou&#146;s share-based compensation expense from shareholders&#146; additional paid-in capital to noncontrolling interest, the investments of shareholders other than Sohu.com Inc. in Preferred Shares and Ordinary Shares of Sogou, the repurchase of Sogou Series A Preferred Shares from noncontrolling shareholders in March 2014 and September 2015, and Sogou&#146;s repurchase of Class&nbsp;A Ordinary Shares from noncontrolling shareholders in June 2014 and January 2017. </p> <p style="margin-top:16pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Noncontrolling Interest of Changyou </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017 and December&nbsp;31, 2016, noncontrolling interest of Changyou of $446.8 million and $398.6 million, respectively, was recognized in the Sohu Group&#146;s consolidated balance sheets, representing a 32% and a 31% economic interest, respectively, in Changyou&#146;s net assets held by shareholders other than Sohu.com Inc., and reflected the reclassification of Changyou&#146;s share-based compensation expense from shareholders&#146; additional paid-in capital to noncontrolling interest. </p> <p style="margin-top:16pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Noncontrolling Interest in the Consolidated Statements of Comprehensive Income </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the three and six months ended June&nbsp;30, 2017, net income attributable to noncontrolling interests in the consolidated statements of comprehensive income was $40.1 million and $58.0 million, respectively. For the three and six months ended June&nbsp;30, 2016, net income attributable to noncontrolling interests in the consolidated statements of comprehensive income was $16.2 million and $47.5 million, respectively. </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="68%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" align="center"><b>Three Months Ended</b></p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" align="center"><b>June&nbsp;30,</b></p></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" align="center"><b>Six Months Ended</b></p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" align="center"><b>June&nbsp;30,</b></p></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sogou</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,488</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">23,688</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">26,100</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">32,086</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Changyou</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10,744</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">16,478</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">21,363</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">25,986</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(35</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(46</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">16,232</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">40,131</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">47,463</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">58,026</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="margin-top:16pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Noncontrolling Interest of Sogou </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the three months ended June&nbsp;30, 2017 and 2016, net income of $23.7 million and $5.5 million, respectively, attributable to the noncontrolling interest of Sogou was recognized in the Sohu Group&#146;s consolidated statements of comprehensive income, representing Sogou&#146;s net income attributable to shareholders other than Sohu.com Inc. </p> <p style="font-size:1px;margin-top:16px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Noncontrolling Interest of Changyou </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the three months ended June&nbsp;30, 2017 and 2016, net income of $16.5 million and $10.7 million, respectively, attributable to the noncontrolling interest of Changyou, was recognized in the Sohu Group&#146;s consolidated statements of comprehensive income, representing a 32% and a 31% economic interest, respectively, in Changyou attributable to shareholders other than Sohu.com Inc. </p> <p style="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="2%" valign="top" align="left"><b>1.</b></td> <td align="left" valign="top"><b>THE COMPANY AND BASIS OF PRESENTATION </b></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Nature of Operations </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sohu.com Inc. (NASDAQ: SOHU), a Delaware corporation organized in 1996, is a leading Chinese online media, search and game service group providing comprehensive online products and services on PCs and mobile devices in the People&#146;s Republic of China (the &#147;PRC&#148; or &#147;China&#148;). Sohu.com Inc.&#146;s businesses are conducted by Sohu.com Inc. and its subsidiaries and VIEs (collectively referred to as the &#147;Sohu Group&#148; or &#147;the Group&#148;). The Sohu Group consists of Sohu, which when referred to in this report, unless the context requires otherwise, excludes the businesses and the corresponding subsidiaries and VIEs of Sogou Inc. (&#147;Sogou&#148;) and Changyou.com Limited (&#147;Changyou&#148;), Sogou and Changyou. Sogou and Changyou are indirect controlled subsidiaries of Sohu.com Inc. Sohu is a leading Chinese language online media content and services provider. Sogou is a leading online search and mobile Internet product provider in China. Changyou is a leading online game developer and operator in China as measured by the popularity of its PC game Tian Long Ba Bu (&#147;TLBB&#148;), its mobile game TLBB 3D, and its mobile game Legacy TLBB, and engages primarily in the development, operation and licensing of online games for PCs and mobile devices. Most of the Group&#146;s operations are conducted through the Group&#146;s China-based subsidiaries and VIEs. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Through the operation of Sohu, Sogou and Changyou, the Sohu Group generates online advertising revenues, including brand advertising revenues and search and search-related advertising revenues; online games revenues; and other revenues. Online advertising and online games are the Group&#146;s core businesses. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Sohu&#146;s Business </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Brand Advertising Business </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sohu&#146;s main business is the brand advertising business, which offers to users, over Sohu&#146;s matrices of Chinese language online media, various content, products and services across multiple Internet-enabled devices such as PCs, mobile phones and tablets. The majority of Sohu&#146;s products and services are provided through Sohu Media Portal, Sohu Video and Focus. </p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top"><b>Sohu Media Portal. </b>Sohu Media Portal is a leading online news and information provider in China. It provides users comprehensive content through www.sohu.com for PCs, the mobile phone application Sohu News APP and the mobile portal m.sohu.com; </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top"><b>Sohu Video.</b> Sohu Video is a leading online video content and service provider in China through tv.sohu.com for PCs and the mobile phone application Sohu Video APP; and </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top"><b>Focus.</b> Focus (www.focus.cn) is a leading online real estate information and services provider in China. </td></tr></table> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Revenues generated by the brand advertising business are classified as brand advertising revenues in the Sohu Group&#146;s consolidated statements of comprehensive income. </p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Other Business </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sohu also engages in the other business, which consists primarily of paid subscription services, sub-licensing of purchased video content to third parties, interactive broadcasting services, and content provided through the platforms of the three main telecommunications operators in China. Revenues generated by Sohu from the other business are classified as other revenues in the Sohu Group&#146;s consolidated statements of comprehensive income. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Sogou&#146;s Business </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Search and Search-related Business </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The search and search-related business consists primarily of search and search-related advertising services offered by Sogou. Search and search-related advertising services enable advertisers&#146; promotional links to be displayed on Sogou&#146;s search results pages and other properties and third parties&#146; Internet properties where the links are relevant to the subject and content of searches and such properties. Sogou&#146;s advertising services expand distribution of advertisers&#146; promotional links and advertisements by leveraging traffic on third parties&#146; Internet properties, including Web content, software, and mobile applications. The search and search-related business benefits from Sogou&#146;s collaboration with Tencent Holdings Limited (together with its subsidiaries, &#147;Tencent&#148;), which provides Sogou access to traffic and content generated from users of products and services provided by Tencent. </p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Revenues generated by the search and search-related business are classified as search and search-related advertising revenues in the Sohu Group&#146;s consolidated statements of comprehensive income. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Other Business </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sogou also engages in other business, by offering Internet value-added services (&#147;IVAS&#148;) primarily with respect to the operation of Web games and mobile games developed by third parties, as well as by offering other products and services to users. Revenues generated by Sogou from Sogou&#146;s other business are classified as other revenues in the Sohu Group&#146;s consolidated statements of comprehensive income. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Changyou&#146;s Business </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Changyou&#146;s business lines consist of the online game business; the platform channel business, which consists primarily of online advertising and also includes IVAS; and the cinema advertising business. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Online Game Business </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Changyou&#146;s online game business offers to game players (a)&nbsp;PC games, which are interactive online games that are accessed and played simultaneously by hundreds of thousands of game players through personal computers and require that local client-end game access software be installed on the computers used, and (b)&nbsp;mobile games, which are played on mobile devices and require an Internet connection. Prior to the sale of Shenzhen 7Road Technology Co., Ltd., or Shenzhen 7Road, in August 2015, Changyou&#146;s online games also included Web games, which are online games that are played through a Web browser with no local game software installation requirements. Following the sale of Shenzhen 7Road, Web games became an insignificant part of Changyou&#146;s online game business. All of Changyou&#146;s games are operated under the item-based revenue model, meaning that game players can play the games for free, but can choose to pay for virtual items, which are non-physical items that game players can purchase and use within a game, such as gems, pets, fashion items, magic medicine, riding animals, hierograms, skill books and fireworks. Revenues derived from the operation of online games are classified as online game revenues in the Sohu Group&#146;s consolidated statements of comprehensive income. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Changyou&#146;s dominant PC game is TLBB, a PC-based client-end game. For the three and six months ended June&nbsp;30, 2017, revenues from TLBB were $47.8 million and $101.1 million, respectively, accounting for approximately 39% and 49%, respectively, of Changyou&#146;s online game revenues, approximately 32% and 37%, respectively, of Changyou&#146;s total revenues, and approximately 10% and 12%, respectively, of the Sohu Group&#146;s total revenues. For the three and six months ended June&nbsp;30, 2016, revenues from TLBB were $51.5 million and $106.9 million, respectively, accounting for approximately 52% and 53%, respectively, of Changyou&#146;s online game revenues, approximately 40% and 41%, respectively, of Changyou&#146;s total revenues and approximately 12% and 13%, respectively, of the Sohu Group&#146;s total revenues. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the second quarter of 2017, Changyou launched a new mobile game, Legacy TLBB. For the three months ended June&nbsp;30, 2017, revenues from Legacy TLBB were $48.0 million, accounting for approximately 39% of Changyou&#146;s online game revenues, approximately 32% of Changyou&#146;s total revenues, and approximately 10% of the Sohu Group&#146;s total revenues. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Platform Channel Business </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Changyou&#146;s platform channel business consists primarily of the operation of the 17173.com Website, one of the leading information portals in China, which provides news, electronic forums, online videos and other information services regarding online games to game players. Changyou&#146;s platform channel business also offers a number of software applications for PCs and mobile devices through the Dolphin Browser and RaidCall. RaidCall provides online music and entertainment services, primarily in Taiwan. The Dolphin Browser, which is operated by MoboTap Inc. (collectively with its subsidiaries and VIEs &#147;MoboTap&#148;), is a gateway to a host of user activities on mobile devices, with the majority of its users based in Europe, North America, Russia and Japan. </p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As Changyou management had determined that the Dolphin Browser was unable to provide expected synergies with Changyou&#146;s platform channel business, in 2016 Changyou&#146;s Board of Directors approved the disposal of Changyou&#146;s 51% equity interest in MoboTap, which is the mobile technology developer behind the Dolphin Browser. Accordingly, the assets and liabilities attributable to MoboTap were classified as assets and liabilities held for sale and measured at the lower of their carrying amounts or their fair value, less cost to sell, in the Sohu Group&#146;s consolidated balance sheet as of December&nbsp;31, 2016. Due to the suspension of negotiations with a potential buyer of MoboTap in the first quarter of 2017, Changyou&#146;s management determined that the disposal is unlikely to be completed within one year. As a result, the assets held for sale and liabilities held for sale related to MoboTap were reclassified and have been recorded as assets and liabilities held for use and measured at the lower of the carrying value before MoboTap was classified as held for sale, adjusted for any depreciation and amortization expense that would have been recognized had the assets and liabilities been continuously classified as held for use, or the fair value as of the reclassification date in the Sohu Group&#146;s consolidated balance sheets commencing on the reclassification date. In the first quarter of 2017, Changyou recorded a $1.4 million expense in the consolidated statements of comprehensive income for catch-up of depreciation and amortization expense of the assets held for sale before the reclassification. All revenues generated by the 17173.com Website are classified as brand advertising revenues, IVAS revenues generated by the Dolphin Browser and by RaidCall are classified as other revenues, and a relatively small amount of online game revenues generated by the Dolphin Browser are included in online game revenues in the Sohu Group&#146;s consolidated statements of comprehensive income. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Cinema Advertising Business </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Changyou also operates a cinema advertising business, which consists primarily of the acquisition from operators of movie theaters, and the sale to advertisers of pre-film advertising slots, which are advertisements shown before the screening of a movie in a cinema theatre. Revenues generated by Changyou&#146;s cinema advertising business are classified as other revenues in the Sohu Group&#146;s consolidated statements of comprehensive income. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Basis of Consolidation and Recognition of Noncontrolling Interest </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Sohu Group&#146;s consolidated financial statements include the accounts of Sohu.com Inc. and its subsidiaries and consolidated VIEs. All intra-Group transactions are eliminated. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>VIE Consolidation </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Sohu Group&#146;s VIEs are wholly or partially owned by certain employees of the Group as nominee shareholders. For consolidated VIEs, management made evaluations of the relationships between the Sohu Group and the VIEs and the economic benefit flow of contractual arrangements with the VIEs. In connection with such evaluation, management also took into account the fact that, as a result of such contractual arrangements, the Group controls the shareholders&#146; voting interests in these VIEs. As a result of such evaluation, management concluded that the Sohu Group is the primary beneficiary of its consolidated VIEs. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Noncontrolling Interest Recognition </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Noncontrolling interests are recognized to reflect the portion of the equity of subsidiaries and VIEs which is not attributable, directly or indirectly, to the controlling shareholders. The noncontrolling interests in the Sohu Group&#146;s consolidated financial statements primarily consist of noncontrolling interests for Sogou and Changyou. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Noncontrolling Interest for Sogou </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i><u>Sogou&#146;s Share Structure </u></i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017, Sogou had outstanding a combined total of 335,919,409 ordinary shares and preferred shares held as follows: </p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="4%" valign="top" align="left">(i)</td> <td align="left" valign="top">Sohu.com Inc.: 130,920,250 Class&nbsp;A Ordinary Shares, of which 3,707,000 shares may be purchased by Sohu management and key employees under an option arrangement; </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="4%" valign="top" align="left">(ii)</td> <td align="left" valign="top">Photon Group Limited, an investment vehicle of the Sohu Group&#146;s Chairman and Chief Executive Officer Charles Zhang (&#147;Photon&#148;): 32,000,000 Series A Preferred Shares; </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="4%" valign="top" align="left">(iii)</td> <td align="left" valign="top">Tencent: 6,757,875 Class&nbsp;A Ordinary Shares, 65,431,579 Series B Preferred Shares and 79,368,421 non-voting Class B Ordinary Shares; and </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="4%" valign="top" align="left">(iv)</td> <td align="left" valign="top">Various employees of Sogou and Sohu: 21,441,284 Class&nbsp;A Ordinary Shares. </td></tr></table> <p style="font-size:1px;margin-top:6px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i><u>Sohu&#146;s Shareholding in and Control of Sogou </u></i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017, Sohu.com Inc. held approximately 36% of the outstanding equity capital of Sogou on a fully-diluted basis, assuming for such purpose that all share options under the Sogou 2010 Share Incentive Plan and all share options under the Sohu Management Sogou Share Option Arrangement are granted and exercised, and that all of the Sogou Class&nbsp;A Ordinary Shares that Sogou has repurchased are re-issued to shareholders other than Sohu.com Inc. Also as of June&nbsp;30, 2017, Sohu.com Inc. held over 50% of the total voting power of Sogou on a fully-diluted basis and controlled the election of a majority of the Board of Directors of Sogou, assuming that Tencent&#146;s non-voting Class B Ordinary Shares are converted to voting shares, that all of the Sogou Class&nbsp;A Ordinary Shares that Sogou has repurchased are re-issued to shareholders other than Sohu.com Inc., and that all Sogou share options under the Sogou 2010 Share Incentive Plan and all Sogou share options under the Sohu Management Sogou Share Option Arrangement are granted and exercised. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As Sogou&#146;s controlling shareholder, Sohu.com Inc. consolidates Sogou in its consolidated financial statements, and recognizes noncontrolling interest reflecting economic interests in Sogou held by shareholders other than Sohu.com Inc. (the &#147;Sogou noncontrolling shareholders&#148;). Sogou&#146;s net income/(loss) attributable to the Sogou noncontrolling shareholders is recorded as noncontrolling interest in the Sohu Group&#146;s consolidated statements of comprehensive income. Sogou&#146;s cumulative results of operations attributable to the Sogou noncontrolling shareholders, along with changes in shareholders&#146; equity/(deficit) and adjustment for share-based compensation expense in relation to share-based awards that are unvested and vested but not yet settled and the Sogou noncontrolling shareholders&#146; investments in Sogou Series A Preferred Shares and Series B Preferred Shares (collectively, the &#147;Sogou Preferred Shares&#148;) and Ordinary Shares are accounted for as a noncontrolling interest classified as permanent equity in the Sohu Group&#146;s consolidated balance sheets, as the Sohu Group has the right to reject a redemption requested by the noncontrolling shareholders. These treatments are based on the terms governing the investments of, and on the terms of the classes of Sogou shares held by, the noncontrolling shareholders in Sogou. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i><u>Principles of Allocation of Sogou&#146;s Profit and Loss </u></i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">By virtue of the terms of Sogou Preferred Shares and Class&nbsp;A Ordinary Shares and Class B Ordinary Shares, Sogou&#146;s losses are allocated in the following order: </p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="4%" valign="top" align="left">(i)</td> <td align="left" valign="top">net losses are allocated to holders of Sogou Class&nbsp;A Ordinary Shares and the holder of Sogou Class B Ordinary Shares until their basis in Sogou decreases to zero; </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="4%" valign="top" align="left">(ii)</td> <td align="left" valign="top">additional net losses are allocated to holders of Sogou Series A Preferred Shares until their basis in Sogou decreases to zero; </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="4%" valign="top" align="left">(iii)</td> <td align="left" valign="top">additional net losses are allocated to the holder of Sogou Series B Preferred Shares until its basis in Sogou decreases to zero; and </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="4%" valign="top" align="left">(iv)</td> <td align="left" valign="top">further net losses are allocated between Sohu.com Inc. and noncontrolling shareholders based on their shareholding percentage in Sogou. </td></tr></table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Net income from Sogou is allocated in the following order: </p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="4%" valign="top" align="left">(i)</td> <td align="left" valign="top">net income is allocated between Sohu.com Inc. and noncontrolling shareholders based on their shareholding percentage in Sogou until their basis in Sogou increases to zero; </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="4%" valign="top" align="left">(ii)</td> <td align="left" valign="top">additional net income is allocated to the holder of Sogou Series B Preferred Shares to bring its basis back; </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="4%" valign="top" align="left">(iii)</td> <td align="left" valign="top">additional net income is allocated to holders of Sogou Series A Preferred Shares to bring their basis back; </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="4%" valign="top" align="left">(iv)</td> <td align="left" valign="top">further net income is allocated to holders of Sogou Class&nbsp;A Ordinary Shares and the holder of Sogou Class B Ordinary Shares to bring their basis back; and </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="4%" valign="top" align="left">(v)</td> <td align="left" valign="top">further net income is allocated between Sohu.com Inc. and noncontrolling shareholders based on their shareholding percentages in Sogou. </td></tr></table> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i><u>Key Terms of Sogou Preferred Shares </u></i></p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following is a summary of some of the key terms of the Sogou Preferred Shares under Sogou&#146;s Memorandum and Articles of Association as currently in effect. </p> <p style="font-size:1px;margin-top:6px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(i) Dividend Rights </p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sogou may not declare or pay dividends on its Class&nbsp;A Ordinary Shares or Class B Ordinary Shares (collectively, &#147;Ordinary Shares&#148;) unless the holders of the Sogou Preferred Shares then outstanding first receive a dividend on each outstanding Preferred Share in an amount at least equal to the sum of (i)&nbsp;the dividends that would have been payable to the holder of such Preferred Share if such share had been converted into Ordinary Shares, at the then-applicable conversion rate, immediately prior to the record date for such dividend, and (ii)&nbsp;all accrued and unpaid dividends (&#147;Accrued Dividends&#148;). &#147;Accrued Dividends&#148; are calculated from the date of issuance of the Series A Preferred Shares at the rate per annum of $0.0375 per Series A Preferred Share and from the date of issuance of the Series B Preferred Shares at the rate per annum of $0.411 per Series B Preferred Share. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(ii) Liquidation Rights </p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the event of any &#147;Liquidation Event,&#148; such as the liquidation, dissolution or winding up of Sogou, a merger or consolidation of Sogou resulting in a change of control, the sale of substantially all of Sogou&#146;s assets or similar events, the holders of Series B Preferred Shares are entitled to receive an amount per share equal to the greater of (i)&nbsp;$6.847 plus Accrued Dividends or (ii)&nbsp;such amount per share as would have been payable if the Series B Preferred Shares had been converted into Ordinary Shares prior to the Liquidation Event, and holders of Series A Preferred Shares are entitled to receive, after payment to the holders of the Series B Preferred Shares but before any payment to holders of Ordinary Shares, an amount equal to the greater of (i)&nbsp;1.3 times their original investment in the Series A Preferred Shares plus Accrued Dividends or (ii)&nbsp;such amount per share as would be payable if the Series A Preferred Shares had been converted into Ordinary Shares immediately prior to the Liquidation Event. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(iii) Redemption Rights </p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Sogou Preferred Shares are not redeemable at the option of the holders. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(iv) Conversion Rights </p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each Sogou Preferred Share is convertible, at the option of the holder, at any time, and without the payment of additional consideration by the holder. Each Sogou Preferred Share is convertible into such number of Class&nbsp;A Ordinary Shares as is determined, in the case of Series A Preferred Shares, by dividing $0.625 by the then-effective conversion price for Series A Preferred Shares, which is initially $0.625, and, in the case of Series B Preferred Shares, by dividing $7.267 by the then-effective conversion price for Series B Preferred Shares, which is initially $7.267. The conversion prices of the Sogou Preferred Shares are subject to adjustment on a weighted average basis upon the issuance of additional equity shares, or securities convertible into equity shares, at a price per share less than $0.625, in the case of Series A Preferred Shares, or less than $7.267, in the case of Series B Preferred Shares, subject to certain customary exceptions, such as shares issued pursuant to the Sogou 2010 Share Incentive Plan. Each Sogou Preferred Share will be automatically converted into Class&nbsp;A Ordinary Shares of Sogou upon the closing of an initial public offering (&#147;IPO&#148;) of Sogou with certain parameters based on the then-effective conversion ratio of such Sogou Preferred Share, which is currently one-for-one for both Series A Preferred Shares and Series B Preferred Shares. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(v) Voting Rights </p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each holder of Sogou Preferred Shares is entitled to cast the number of votes equal to the number of Class&nbsp;A Ordinary Shares into which the Sogou Preferred Shares held by such holder are then convertible. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(vi) Other Rights </p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The holders of Sogou Preferred Shares have various other rights typical of preferred share investments. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i><u>Key Terms of Sogou Class&nbsp;A Ordinary Shares and Class B Ordinary Shares </u></i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Class&nbsp;A Ordinary Shares and Class B Ordinary Shares have identical rights, except that Class B Ordinary Shares do not have voting rights unless the holders of at least a majority of the then outstanding Class B Ordinary Shares elect, by written notice to Sogou, to convert them into shares with voting rights. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Noncontrolling Interest for Changyou </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Changyou is a public company listed on the NASDAQ Global Select Market. As of June&nbsp;30, 2017, Sohu.com Inc. held approximately 68% of the combined total of Changyou&#146;s outstanding ordinary shares, and controlled approximately 95% of the total voting power in Changyou. </p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As Changyou&#146;s controlling shareholder, Sohu.com Inc. consolidates Changyou in its consolidated financial statements, and recognizes noncontrolling interest reflecting the economic interest in Changyou held by shareholders other than Sohu.com Inc.(the &#147;Changyou noncontrolling shareholders&#148;). Changyou&#146;s net income /(loss) attributable to the Changyou noncontrolling shareholders is recorded as noncontrolling interest in the Sohu Group&#146;s consolidated statements of comprehensive income, based on the noncontrolling shareholders&#146; share of the economic interest in Changyou. Changyou&#146;s cumulative results of operations attributable to the Changyou noncontrolling shareholders, along with changes in shareholders&#146; equity, adjustment for share-based compensation expense in relation to those share-based awards which are unvested and vested but not yet settled and adjustment for changes in Sohu.com Inc.&#146;s ownership in Changyou, are recorded as noncontrolling interest in the Sohu Group&#146;s consolidated balance sheets. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Basis of Presentation </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">These financial statements have been prepared in accordance with generally accepted accounting principles (&#147;GAAP&#148;) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. These financial statements should be read in conjunction with the consolidated financial statements and related footnotes included in the Company&#146;s Annual Report on Form 10-K for the year ended December&nbsp;31, 2016. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The accompanying unaudited condensed consolidated interim financial statements reflect all normal recurring adjustments which, in the opinion of management, are necessary for a fair statement of the results for the interim periods presented. Results for the six months ended June&nbsp;30, 2017 are not necessarily indicative of the results expected for the full fiscal year or for any future period. </p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="58%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="18" align="center" style="border-bottom:1.00pt solid #000000"><b>Three Months Ended June&nbsp;30, 2016</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Sohu</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Sogou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Changyou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Eliminations</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Consolidated</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revenues (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">116,305</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">175,548</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">129,160</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(875</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">420,138</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment cost of revenues</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(95,571</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(75,035</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(41,867</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">159</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(212,314</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment gross profit</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">20,734</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">100,513</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">87,293</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(716</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">207,824</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SBC (2)&nbsp;in cost of revenues</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">73</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(17</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">56</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gross profit</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">20,807</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">100,513</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">87,276</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(716</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">207,880</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating expenses:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Product development (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(24,027</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(34,563</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(29,778</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,108</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(87,260</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sales and marketing (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(76,245</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(29,508</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(13,054</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,002</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(117,805</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General and administrative</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(12,852</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(4,173</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(11,906</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">21</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(28,910</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SBC (2)&nbsp;in operating expenses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,403</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(608</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(3,395</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,600</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total operating expenses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(111,721</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(68,852</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(58,133</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,131</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(236,575</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating profit /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(90,914</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">31,661</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">29,143</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,415</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(28,695</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other income /(expense) (3)&nbsp;(4)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,077</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(27,757</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,522</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,415</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(24,573</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest income (5)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,194</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,824</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4,155</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,889</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">5,284</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest expense (5)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,211</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(922</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,889</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(244</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exchange difference</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">997</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">419</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,450</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,866</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income /(loss) before income tax benefit /(expense)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(88,857</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">6,147</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,348</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(44,362</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax benefit /(expense)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,517</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(935</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(5,012</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,430</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(85,340</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,212</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">33,336</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(46,792</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="font-size:1px;margin-top:6px;margin-bottom:0px">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(1):</td> <td align="left" valign="top">The elimination mainly consists of revenues and expenses generated from marketing services among the Sohu, Sogou and Changyou segments. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(2):</td> <td align="left" valign="top">&#147;SBC&#148; stands for share-based compensation expense. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(3):</td> <td align="left" valign="top">The elimination mainly consists of leasing income and expenses generated from a building that Sohu leases to Sogou. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(4):</td> <td align="left" valign="top">In the second quarter of 2016, the Sohu Group recognized a one-time expense of $27.8 million that was related to a donation by Sogou to Tsinghua University related to setting up a joint research institute focusing on artificial intelligence, or AI, technology. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(5):</td> <td align="left" valign="top">The elimination represents interest income/ (expense) resulting from intra-Group loans between the Sohu segment and the Changyou segment. </td></tr></table> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="57%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="18" align="center" style="border-bottom:1.00pt solid #000000"><b>Three Months Ended June&nbsp;30, 2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Sohu</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Sogou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Changyou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Eliminations</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Consolidated</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revenues (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">100,850</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">210,943</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">150,361</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(986</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">461,168</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment cost of revenues</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(137,547</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(105,460</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(34,978</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">19</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(277,966</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment gross profit</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(36,697</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">105,483</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">115,383</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(967</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">183,202</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SBC (2)&nbsp;in cost of revenues</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(182</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(44</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(228</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gross profit</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(36,879</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">105,481</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">115,339</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(967</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">182,974</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating expenses:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Product development (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(27,047</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(37,486</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(32,226</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,538</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(95,221</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sales and marketing (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(46,943</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(36,591</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(11,782</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,401</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(93,915</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General and administrative</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(7,403</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(5,301</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(8,387</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">31</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(21,060</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SBC (2)&nbsp;in operating expenses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,357</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(657</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(9,438</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(12,452</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total operating expenses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(83,750</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(80,035</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(61,833</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,970</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(222,648</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating profit /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(120,629</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">25,446</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">53,506</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,003</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(39,674</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other income/(expense) (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,592</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">131</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,586</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,003</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,306</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest income (4)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,728</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,139</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">8,194</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(6,248</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">5,813</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest expense (4)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(5,365</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,088</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">6,248</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(205</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exchange difference</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(807</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,163</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,558</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(4,528</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income /(loss) before income tax expense</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(122,481</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">25,553</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">61,640</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(35,288</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax expense</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(677</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,027</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(10,060</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(12,764</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(123,158</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">23,526</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">51,580</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(48,052</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(1):</td> <td align="left" valign="top">The elimination mainly consists of revenues and expenses generated from marketing services among the Sohu, Sogou and Changyou segments. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(2):</td> <td align="left" valign="top">&#147;SBC&#148; stands for share-based compensation expense. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(3):</td> <td align="left" valign="top">The elimination mainly consists of leasing income and expenses generated from a building that Sohu leases to Sogou. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(4):</td> <td align="left" valign="top">The elimination represents interest income/ (expense) resulting from intra-Group loans between the Sohu segment and the Changyou segment. </td></tr></table> <p style="font-size:1px;margin-top:12px;margin-bottom:0px">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="60%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="18" align="center" style="border-bottom:1.00pt solid #000000"><b>Six Months Ended June&nbsp;30, 2016</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Sohu</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Sogou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Changyou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Eliminations</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Consolidated</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revenues (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">247,877</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">322,877</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">259,000</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1,664</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">828,090</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment cost of revenues</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(181,993</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(139,606</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(83,724</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">217</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(405,106</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment gross profit</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">65,884</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">183,271</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">175,276</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,447</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">422,984</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SBC (2)&nbsp;in cost of revenues</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(10</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gross profit</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">65,895</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">183,271</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">175,266</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,447</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">422,985</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating expenses:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td colspan="5" valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td colspan="5" valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Product development (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(46,563</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(65,285</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(60,375</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,281</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(169,942</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sales and marketing (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(127,616</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(56,607</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(25,610</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,995</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(207,838</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General and administrative</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(25,083</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(7,563</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(23,553</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">49</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(56,150</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SBC (2)&nbsp;in operating expenses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,502</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,352</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,128</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,978</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total operating expenses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(197,760</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(131,807</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(111,666</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4,325</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(436,908</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating profit /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(131,865</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">51,464</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">63,600</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,878</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(13,923</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other income /(expense) (3)&nbsp;(4)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,453</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(27,593</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7,369</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,878</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(20,649</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest income (5)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4,454</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,528</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">8,207</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(5,068</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11,121</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest expense (5)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(3,876</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,134</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">5,068</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(942</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exchange difference</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">663</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">338</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,843</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,844</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income /(loss) before income tax benefit /(expense)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(128,171</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">27,737</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">78,885</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(21,549</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax benefit /(expense)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">870</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,422</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(12,746</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(14,298</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(127,301</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">25,315</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">66,139</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(35,847</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(1):</td> <td align="left" valign="top">The elimination mainly consists of revenues and expenses generated from marketing services among the Sohu, Sogou and Changyou segments. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(2):</td> <td align="left" valign="top">&#147;SBC&#148; stands for share-based compensation expense. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(3):</td> <td align="left" valign="top">The elimination mainly consists of leasing income and expenses generated from a building that Sohu leases to Sogou. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(4):</td> <td align="left" valign="top">In the second quarter of 2016, the Sohu Group recognized a one-time expense of $27.8 million that was related to a donation by Sogou to Tsinghua University related to setting up a joint research institute focusing on AI technology. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(5):</td> <td align="left" valign="top">The elimination represents interest income/ (expense) resulting from intra-Group loans between the Sohu segment and the Changyou segment. </td></tr></table> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="60%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="18" align="center" style="border-bottom:1.00pt solid #000000"><b>Six Months Ended June&nbsp;30, 2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Sohu</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Sogou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Changyou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Eliminations</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Consolidated</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revenues (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">193,342</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">373,227</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">270,231</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1,529</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">835,271</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment cost of revenues</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(229,749</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(192,914</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(74,066</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">70</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(496,659</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment gross profit</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(36,407</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">180,313</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">196,165</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,459</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">338,612</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SBC (2)&nbsp;in cost of revenues</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(341</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(5</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(68</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(414</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gross profit</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(36,748</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">180,308</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">196,097</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,459</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">338,198</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating expenses:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Product development (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(53,026</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(70,335</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(56,630</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,999</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(176,992</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sales and marketing (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(101,994</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(61,356</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(22,318</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,332</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(183,336</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General and administrative</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(18,308</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(9,936</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(17,178</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">63</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(45,359</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SBC (2)&nbsp;in operating expenses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">449</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(4,997</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(14,947</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(19,495</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total operating expenses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(172,879</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(146,624</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(111,073</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">5,394</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(425,182</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating profit /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(209,627</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">33,684</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">85,024</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,935</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(86,984</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other income/(expense) (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">6,333</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">154</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4,853</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(3,935</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7,405</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest income (4)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,399</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,797</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">14,610</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(11,522</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10,284</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest expense (4)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(9,741</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,161</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11,522</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(380</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exchange difference</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(192</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,802</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,300</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(5,294</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income /(loss) before income tax expense</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(209,828</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">34,833</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">100,026</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(74,969</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax expense</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,872</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(3,079</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(18,485</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(23,436</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(211,700</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">31,754</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">81,541</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(98,405</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="font-size:1px;margin-top:6px;margin-bottom:0px">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(1):</td> <td align="left" valign="top">The elimination mainly consists of revenues and expenses generated from marketing services among the Sohu, Sogou and Changyou segments. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(2):</td> <td align="left" valign="top">&#147;SBC&#148; stands for share-based compensation expense. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(3):</td> <td align="left" valign="top">The elimination mainly consists of leasing income and expenses generated from a building that Sohu leases to Sogou. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(4):</td> <td align="left" valign="top">The elimination represents interest income/ (expense) resulting from intra-Group loans between the Sohu segment and the Changyou segment. </td></tr></table> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="56%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="18" align="center" style="border-bottom:1.00pt solid #000000"><b>As of December&nbsp;31, 2016</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Sohu</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Sogou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Changyou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Eliminations</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Consolidated</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash and cash equivalents</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">167,691</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">286,078</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">597,188</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,050,957</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accounts receivable, net</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">100,317</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">41,781</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">47,150</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(81</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">189,167</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fixed assets, net</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">196,839</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">117,022</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">189,770</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">503,631</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total assets (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,241,844</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">499,589</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,708,037</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(885,780</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,563,690</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> </table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(1):</td> <td align="left" valign="top">The elimination for segment assets mainly consists of elimination of intra-Group loans between the Sohu segment and the Changyou segment, and elimination of long-term investments in subsidiaries and consolidated VIEs. </td></tr></table> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="55%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="18" align="center" style="border-bottom:1.00pt solid #000000"><b>As of June&nbsp;30, 2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Sohu</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Sogou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Changyou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Eliminations</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Consolidated</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash and cash equivalents</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">104,408</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">310,864</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">518,439</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">933,711</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accounts receivable, net</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">111,992</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">46,523</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">94,119</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(83</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">252,551</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fixed assets, net</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">197,060</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">131,568</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">188,937</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">517,565</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total assets (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,156,548</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">555,511</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,846,355</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1,014,144</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,544,270</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> </table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(1):</td> <td align="left" valign="top">The elimination for segment assets mainly consists of elimination of intra-Group loans between the Sohu segment and the Changyou segment, and elimination of long-term investments in subsidiaries and consolidated VIEs. </td></tr></table> <p style="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <p style="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="2%" valign="top" align="left"><b>4.</b></td> <td align="left" valign="top"><b>RELATED PARTY TRANSACTIONS </b></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b>Changyou&#146;s Loan Arrangements with Fox Financial Technology Group Limited (&#147;Fox Financial,&#148; formerly known as &#147;SoEasy Internet Finance Group Limited&#148;) </b></p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Commencing in April 2015, certain subsidiaries of Changyou and certain subsidiaries of Fox Financial (Fox Financial is one of Sohu&#146;s equity investments, see Note 6 - FAIR VALUE MEASUREMENTS ) entered into a series of loan agreements pursuant to which the subsidiaries of Changyou are entitled to draw down HK dollar-denominated or U.S. dollar-denominated loans from the Fox Financial subsidiaries and the Fox Financial subsidiaries are entitled to draw down equivalent RMB-denominated loans from the subsidiaries of Changyou, to facilitate each other&#146;s business operations. All of the loans carry a fixed rate of interest equal to the current market interest rate. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017, Changyou had U.S. dollar-denominated loans payable to Fox Financial in a total amount of approximately $28.8 million, which was recorded in other short-term liabilities, and RMB-denominated loans receivable from Fox Financial in a total amount of approximately $28.8 million, which was recorded in prepaid and other current assets. For the three months and six months ended June&nbsp;30, 2017, Changyou incurred interest expense of $0.2 million and $0.4 million, respectively, and earned interest income of $0.3 million and $0.6 million, respectively. As of June&nbsp;30, 2017, total interest expense payable to Fox Financial amounted to $0.9 million, which was recorded in other short-term liabilities; and total interest income receivable from Fox Financial was $1.5 million, which was recorded in prepaid and other current assets. </p> <p style="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td valign="top" align="left"><b>Other Information</b></td> </tr></table> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the three months ended June&nbsp;30, 2017 and 2016, the Sohu Group generated brand advertising revenue from Fox Financial of nil and $10,000, respectively, and incurred sales and marketing expense for Fox Financial of nil and $0.2 million, respectively. For the six months ended June&nbsp;30, 2017 and 2016, the Sohu Group generated brand advertising revenue from Fox Financial of nil and $0.9 million, respectively, and incurred sales and marketing expense for Fox Financial of nil and $0.2 million, respectively. </p> <p style="font-size:16pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="60%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Weighted</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Number</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Weighted</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Average</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Aggregate</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Of</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Average</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Remaining</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Intrinsic</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Shares</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Exercise</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Contractual</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Value (1)</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:27.05pt; font-size:8pt; font-family:Times New Roman"><b>Options</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>(in&nbsp;thousands)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Price</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Life (Years)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>(in&nbsp;thousands)</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding at January&nbsp;1, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">193</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td nowrap="nowrap" valign="bottom">$</td> <td nowrap="nowrap" valign="bottom" align="right"></td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td nowrap="nowrap" valign="bottom">$</td> <td nowrap="nowrap" valign="bottom" align="right"></td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Granted</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">178</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.001</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercised</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(125</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.001</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Forfeited or expired</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">246</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.001</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7.62</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11,073</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Vested at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">246</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.001</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7.62</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11,073</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercisable at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">246</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.001</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7.62</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11,073</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> </table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Note (1): The aggregated intrinsic value in the preceding table represents the difference between Sohu&#146;s closing stock price of $45.06 on June&nbsp;30, 2017 and the nominal exercise prices of the stock options. </p> <table cellspacing="0" cellpadding="0" width="84%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="67%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Weighted</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Number</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Weighted</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Average</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Of</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Average</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Remaining</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Shares</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Exercise</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Contractual</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:27.05pt; font-size:8pt; font-family:Times New Roman"><b>Options</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>(in&nbsp;thousands)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Price</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Life (Years)</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding at January&nbsp;1, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">9,451</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.476</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Granted</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercised</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,893</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.001</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Forfeited or expired</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(9</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.001</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7,549</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.596</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">5.73</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Vested at June&nbsp;30, 2017 and expected to vest thereafter</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">349</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercisable at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">280</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> </table> <table cellspacing="0" cellpadding="0" width="84%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="67%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Weighted</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Number</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Weighted</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Average</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Of</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Average</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Remaining</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Shares</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Exercise</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Contractual</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:27.05pt; font-size:8pt; font-family:Times New Roman"><b>Options</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>(in&nbsp;thousands)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Price</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Life (Years)</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding at January&nbsp;1, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,190</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.623</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Granted</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercised</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(778</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.625</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Forfeited or expired</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,412</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.622</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">5.68</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Vested at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">12</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercisable at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">12</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> </table> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="58%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:27.05pt; font-size:8pt; font-family:Times New Roman"><b>Options</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Number&nbsp;Of<br/>Shares<br/>(in&nbsp;thousands)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Weighted<br/>Average<br/>Exercise<br/>Price</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Weighted<br/>Average<br/>Remaining<br/>Contractual<br/>Life (Years)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Aggregate<br/>Intrinsic<br/>Value (1)<br/>(in&nbsp;thousands)</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding at January&nbsp;1, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">852</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.01</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7.93</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">9,032</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Granted</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">295</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercised</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(570</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.01</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Forfeited or expired</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">577</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.01</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7.65</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11,180</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Vested at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">577</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.01</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11,180</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercisable at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">577</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.01</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> </table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Note (1): The aggregated intrinsic value in the preceding table represents the difference between Changyou&#146;s closing price of $38.76 per ADS, or $19.38 per Class&nbsp;A ordinary share, on June&nbsp;30, 2017 and the nominal exercise price of share option. </p> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="63%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" align="center"><b>Three&nbsp;Months&nbsp;Ended</b></p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" align="center"><b>June&nbsp;30,</b></p></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center"><b>Six&nbsp;Months&nbsp;Ended<br/>June&nbsp;30,</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016 </b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Numerator:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net loss attributable to Sohu.com Inc., basic</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(63,024</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(88,183</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(83,310</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(156,431</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of dilutive securities:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Incremental dilution from Sogou</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Incremental dilution from Changyou</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(362</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(515</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(653</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(931</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net loss attributable to Sohu.com Inc., diluted</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(63,386</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(88,698</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(83,963</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(157,362</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Denominator:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Weighted average basic shares of common stock outstanding</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,691</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,855</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,678</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,833</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of dilutive securities:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share options and restricted share units</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Weighted average diluted common shares outstanding</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,691</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,855</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,678</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,833</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Basic net loss per share attributable to Sohu.com Inc.</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1.63</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(2.27</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(2.15</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(4.03</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Diluted net loss per share attributable to Sohu.com Inc.</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1.64</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(2.28</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(2.17</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(4.05</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="69%"></td> <td valign="bottom" width="12%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="12%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:76.35pt; font-size:8pt; font-family:Times New Roman"><b>Restricted Stock Units</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Number of<br/>Units<br/>(in&nbsp;thousands)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b><font style="white-space:nowrap">Weighted-Average</font><br/>Grant-Date<br/>Fair&nbsp;Value</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unvested at January&nbsp;1, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">70.24</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Granted</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td nowrap="nowrap" valign="bottom" align="right">&#151;</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Vested</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">64.00</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Forfeited</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(4</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">66.73</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unvested at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">5</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">82.59</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Expected to vest after June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">82.59</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> </table> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" align="center"> <tr> <td width="68%"></td> <td valign="bottom" width="13%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="13%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:77.25pt; font-size:8pt; font-family:Times New Roman"><b>Restricted Share Units</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Number of</b><br/><b>Units</b><br/><b>(in&nbsp;thousands)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b><font style="white-space:nowrap">Weighted-Average</font><br/>Grant-Date<br/>Fair Value</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Unvested at January&nbsp;1, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">14.25</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Granted</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Vested</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Forfeited</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Unvested at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">14.25</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Expected to vest after June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">14.25</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> </table> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="58%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="10" align="center" style="border-bottom:1.00pt solid #000000"><b>Fair&nbsp;value&nbsp;measurements&nbsp;at&nbsp;reporting&nbsp;date&nbsp;using</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:19.05pt; font-size:8pt; font-family:Times New Roman"><b>Items</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>As of<br/>December&nbsp;31,<br/>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Quoted&nbsp;Prices<br/>in&nbsp;Active Markets<br/>for&nbsp;Identical&nbsp;Assets<br/>(Level 1)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Significant<br/>Other&nbsp;Observable<br/>Inputs<br/>(Level 2)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Significant<br/>Unobservable<br/>Inputs<br/>(Level 3)</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash equivalents</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">626,697</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">626,697</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Short-term investments</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">247,926</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">247,926</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Available-for-sale equity securities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10,381</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10,381</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Foreign exchange forward contracts recognized in prepaid and other current assets</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,040</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,040</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restricted time deposits</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">269</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">269</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">888,313</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">10,381</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">877,932</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table sets forth the financial instruments, measured at fair value by level within the fair value hierarchy, as of June&nbsp;30, 2017 (in thousands): </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="59%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="10" align="center" style="border-bottom:1.00pt solid #000000"><b>Fair&nbsp;value&nbsp;measurements&nbsp;at&nbsp;reporting&nbsp;date&nbsp;using</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:19.05pt; font-size:8pt; font-family:Times New Roman"><b>Items</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>As of<br/>June 30,<br/>2017</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Quoted&nbsp;Prices<br/>in&nbsp;Active Markets<br/>for&nbsp;Identical&nbsp;Assets<br/>(Level 1)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Significant<br/>Other&nbsp;Observable<br/>Inputs<br/>(Level 2)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Significant<br/>Unobservable<br/>Inputs<br/>(Level 3)</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash equivalents</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">463,000</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">463,000</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Short-term investments</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">308,928</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">308,928</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Available-for-sale equity securities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">9,130</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">9,130</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restricted time deposits</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">269</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">269</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total Assets</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">781,327</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">9,130</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">772,197</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Foreign exchange forward contracts recognized in other short-term liabilities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">670</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">670</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <table cellspacing="0" cellpadding="0" width="68%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="81%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:75.30pt; font-size:8pt; font-family:Times New Roman"><b>Assumptions Adopted</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Average risk-free interest rate</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td nowrap="nowrap" valign="bottom" align="right">2.14%~2.26%</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercise multiple</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2~3</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Expected forfeiture rate (post-vesting)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1%~12%</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Weighted average expected option life</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">9</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Volatility rate</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">47%</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dividend yield</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0%</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fair value</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3.18</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> </table> <table cellspacing="0" cellpadding="0" width="68%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="92%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:75.30pt; font-size:8pt; font-family:Times New Roman"><b>Assumptions Adopted</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Average risk-free interest rate</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2.52</td> <td nowrap="nowrap" valign="bottom">%&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercise multiple</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2.8</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Expected forfeiture rate (post-vesting)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">14</td> <td nowrap="nowrap" valign="bottom">%&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Weighted average expected option life</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4.5</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Volatility rate</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">44.4</td> <td nowrap="nowrap" valign="bottom">%&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dividend yield</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.00</td> <td nowrap="nowrap" valign="bottom">%&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fair value</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.68</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> </table> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="70%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>Three&nbsp;Months<br/>Ended&nbsp;June&nbsp;30,</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>Six&nbsp;Months<br/>Ended&nbsp;June&nbsp;30,</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"><b>Share-based compensation expense</b></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cost of revenues (1)&nbsp;(3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(56</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">228</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">414</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Product development expenses (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,699</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4,925</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,696</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7,252</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sales and marketing expenses (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">161</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">930</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">175</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,595</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General and administrative expenses (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">740</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">6,597</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,107</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10,648</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,544</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">12,680</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,977</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">19,909</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b>7. IMPAIRMENT OF PURCHASED VIDEO CONTENT </b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the second quarter of 2017, the Sohu Group recognized an impairment loss of $44.9 million in cost of revenues with respect to its purchased video content, which was mainly due to the ongoing restructuring of the sales team of Sohu Video as well as a strategic shift to reduce purchasing of licensed video content beginning in the second half of 2016. These two factors had an adverse impact on Sohu Video&#146;s performance for the second quarter of 2017, which has failed to meet the management&#146;s expectation. The management also revised downward their expectations of the programming usefulness of certain of Sohu Video&#146;s purchased video content. The discounted cash flow method has been used to determine the fair value of these purchased video content. </p> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="63%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Sohu</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Sogou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Changyou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Total</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Balance as of December&nbsp;31, 2016</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Goodwill</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">72,011</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">5,565</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">96,949</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">174,525</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accumulated impairment losses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(35,788</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(70,447</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(106,235</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">36,223</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,565</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">26,502</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">68,290</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transactions in 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Goodwill associated with MoboTap and reclassification of assets held for sale to assets held for use (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">83,470</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">83,470</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Goodwill associated with an acquisition</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,000</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,000</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Foreign currency translation adjustment</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">359</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">133</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">391</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">883</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Balance as of June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">37,582</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,698</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">110,363</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">153,643</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Balance as of June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Goodwill</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">73,370</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,698</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">180,810</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">259,878</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accumulated impairment losses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(35,788</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(70,447</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(106,235</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">37,582</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,698</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">110,363</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">153,643</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Note (1): Represents goodwill associated with the reclassification of assets held for sale to assets held for use in connection with MoboTap. See Note 6 &#150; Fair Value Measurements. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b>16. SUBSEQUENT EVENT </b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In July 2017, Sohu received RMB400.0 million (or approximately $59.0 million) from Ping An Bank pursuant to the loan arrangements at an interest rate of 6.525%, which is 150% of the rate published by the PBOC as of the date of the drawdown. </p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="74%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>As of</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>December&nbsp;31,<br/>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>June&nbsp;30,</b><br/><b>2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ASSETS:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash and cash equivalents</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">94,859</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">62,665</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accounts receivable, net</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">72,151</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">94,180</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Prepaid and other current assets</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">86,722</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">33,581</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Assets held for sale</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">12,551</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intra-Group receivables due from the Company&#146;s subsidiaries</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">197,438</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">340,392</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total current assets</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">463,721</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">530,818</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Long-term investments, net</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">17,472</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">16,856</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fixed assets, net</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4,372</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,604</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intangible assets, net</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">14,545</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">13,000</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Goodwill</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">35,161</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">36,597</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other non-current assets</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4,052</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,855</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total assets</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">539,323</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">603,730</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">LIABILITIES:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accounts payable</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">15,824</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">33,767</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accrued liabilities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">96,695</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">72,944</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Receipts in advance and deferred revenue</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">44,797</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">43,613</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Liabilities held for sale</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,232</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other current liabilities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">111,775</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">110,913</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intra-Group payables due to the Company&#146;s subsidiaries</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">129,431</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">150,052</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total current liabilities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">401,754</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">411,289</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Long-term taxes payable</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">13,463</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">13,787</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred tax liabilities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,273</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,253</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intra-Group payables due to the Company&#146;s subsidiaries</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">19,620</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">20,079</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total liabilities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">436,110</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">446,408</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" align="center"> <tr> <td width="64%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>Three&nbsp;months&nbsp;ended&nbsp;June&nbsp;30,</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>Six&nbsp;months&nbsp;ended&nbsp;June&nbsp;30,</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net revenue</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">228,018</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">236,251</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">446,682</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">426,959</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">9,924</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">42,776</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">15,516</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">52,208</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="79%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>Six&nbsp;months&nbsp;ended&nbsp;June&nbsp;30,</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net cash provided by /(used in) operating activities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">30,899</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(55,266</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net cash provided by /(used in) investing activities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(931</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,841</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net cash provided by financing activities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">6,309</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b>2. SEGMENT INFORMATION </b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Sohu Group&#146;s segments are business units that offer different services and are reviewed separately by the chief operating decision maker (the &#147;CODM&#148;), or the decision making group, in deciding how to allocate resources and in assessing performance. The Group&#146;s CODM is Sohu.com Inc.&#146;s Chief Executive Officer. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following tables present summary information by segment (in thousands): </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="58%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="18" align="center" style="border-bottom:1.00pt solid #000000"><b>Three Months Ended June&nbsp;30, 2016</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Sohu</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Sogou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Changyou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Eliminations</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Consolidated</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revenues (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">116,305</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">175,548</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">129,160</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(875</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">420,138</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment cost of revenues</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(95,571</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(75,035</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(41,867</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">159</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(212,314</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment gross profit</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">20,734</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">100,513</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">87,293</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(716</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">207,824</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SBC (2)&nbsp;in cost of revenues</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">73</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(17</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">56</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gross profit</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">20,807</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">100,513</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">87,276</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(716</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">207,880</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating expenses:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Product development (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(24,027</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(34,563</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(29,778</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,108</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(87,260</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sales and marketing (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(76,245</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(29,508</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(13,054</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,002</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(117,805</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General and administrative</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(12,852</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(4,173</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(11,906</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">21</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(28,910</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SBC (2)&nbsp;in operating expenses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,403</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(608</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(3,395</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,600</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total operating expenses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(111,721</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(68,852</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(58,133</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,131</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(236,575</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating profit /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(90,914</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">31,661</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">29,143</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,415</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(28,695</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other income /(expense) (3)&nbsp;(4)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,077</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(27,757</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,522</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,415</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(24,573</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest income (5)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,194</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,824</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4,155</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,889</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">5,284</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest expense (5)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,211</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(922</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,889</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(244</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exchange difference</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">997</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">419</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,450</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,866</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income /(loss) before income tax benefit /(expense)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(88,857</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">6,147</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">38,348</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(44,362</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax benefit /(expense)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,517</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(935</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(5,012</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,430</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(85,340</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">5,212</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">33,336</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(46,792</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="font-size:1px;margin-top:6px;margin-bottom:0px">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(1):</td> <td align="left" valign="top">The elimination mainly consists of revenues and expenses generated from marketing services among the Sohu, Sogou and Changyou segments. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(2):</td> <td align="left" valign="top">&#147;SBC&#148; stands for share-based compensation expense. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(3):</td> <td align="left" valign="top">The elimination mainly consists of leasing income and expenses generated from a building that Sohu leases to Sogou. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(4):</td> <td align="left" valign="top">In the second quarter of 2016, the Sohu Group recognized a one-time expense of $27.8 million that was related to a donation by Sogou to Tsinghua University related to setting up a joint research institute focusing on artificial intelligence, or AI, technology. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(5):</td> <td align="left" valign="top">The elimination represents interest income/ (expense) resulting from intra-Group loans between the Sohu segment and the Changyou segment. </td></tr></table> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="57%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="18" align="center" style="border-bottom:1.00pt solid #000000"><b>Three Months Ended June&nbsp;30, 2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Sohu</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Sogou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Changyou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Eliminations</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Consolidated</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revenues (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">100,850</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">210,943</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">150,361</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(986</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">461,168</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment cost of revenues</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(137,547</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(105,460</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(34,978</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">19</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(277,966</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment gross profit</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(36,697</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">105,483</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">115,383</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(967</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">183,202</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SBC (2)&nbsp;in cost of revenues</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(182</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(44</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(228</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gross profit</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(36,879</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">105,481</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">115,339</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(967</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">182,974</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating expenses:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Product development (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(27,047</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(37,486</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(32,226</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,538</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(95,221</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sales and marketing (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(46,943</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(36,591</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(11,782</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,401</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(93,915</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General and administrative</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(7,403</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(5,301</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(8,387</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">31</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(21,060</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SBC (2)&nbsp;in operating expenses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,357</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(657</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(9,438</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(12,452</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total operating expenses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(83,750</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(80,035</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(61,833</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,970</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(222,648</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating profit /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(120,629</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">25,446</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">53,506</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,003</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(39,674</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other income/(expense) (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,592</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">131</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,586</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,003</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,306</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest income (4)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,728</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,139</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">8,194</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(6,248</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">5,813</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest expense (4)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(5,365</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,088</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">6,248</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(205</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exchange difference</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(807</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,163</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,558</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(4,528</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income /(loss) before income tax expense</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(122,481</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">25,553</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">61,640</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(35,288</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax expense</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(677</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,027</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(10,060</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(12,764</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(123,158</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">23,526</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">51,580</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(48,052</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(1):</td> <td align="left" valign="top">The elimination mainly consists of revenues and expenses generated from marketing services among the Sohu, Sogou and Changyou segments. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(2):</td> <td align="left" valign="top">&#147;SBC&#148; stands for share-based compensation expense. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(3):</td> <td align="left" valign="top">The elimination mainly consists of leasing income and expenses generated from a building that Sohu leases to Sogou. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(4):</td> <td align="left" valign="top">The elimination represents interest income/ (expense) resulting from intra-Group loans between the Sohu segment and the Changyou segment. </td></tr></table> <p style="font-size:1px;margin-top:12px;margin-bottom:0px">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="60%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="18" align="center" style="border-bottom:1.00pt solid #000000"><b>Six Months Ended June&nbsp;30, 2016</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Sohu</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Sogou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Changyou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Eliminations</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Consolidated</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revenues (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">247,877</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">322,877</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">259,000</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1,664</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">828,090</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment cost of revenues</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(181,993</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(139,606</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(83,724</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">217</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(405,106</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment gross profit</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">65,884</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">183,271</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">175,276</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,447</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">422,984</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SBC (2)&nbsp;in cost of revenues</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(10</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gross profit</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">65,895</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">183,271</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">175,266</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,447</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">422,985</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating expenses:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td colspan="5" valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td colspan="5" valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Product development (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(46,563</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(65,285</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(60,375</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,281</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(169,942</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sales and marketing (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(127,616</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(56,607</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(25,610</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,995</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(207,838</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General and administrative</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(25,083</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(7,563</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(23,553</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">49</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(56,150</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SBC (2)&nbsp;in operating expenses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,502</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,352</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,128</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,978</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total operating expenses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(197,760</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(131,807</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(111,666</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4,325</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(436,908</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating profit /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(131,865</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">51,464</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">63,600</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,878</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(13,923</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other income /(expense) (3)&nbsp;(4)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,453</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(27,593</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7,369</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,878</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(20,649</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest income (5)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4,454</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,528</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">8,207</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(5,068</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11,121</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest expense (5)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(3,876</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,134</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">5,068</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(942</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exchange difference</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">663</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">338</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,843</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,844</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income /(loss) before income tax benefit /(expense)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(128,171</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">27,737</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">78,885</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(21,549</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax benefit /(expense)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">870</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,422</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(12,746</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(14,298</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(127,301</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">25,315</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">66,139</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(35,847</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(1):</td> <td align="left" valign="top">The elimination mainly consists of revenues and expenses generated from marketing services among the Sohu, Sogou and Changyou segments. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(2):</td> <td align="left" valign="top">&#147;SBC&#148; stands for share-based compensation expense. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(3):</td> <td align="left" valign="top">The elimination mainly consists of leasing income and expenses generated from a building that Sohu leases to Sogou. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(4):</td> <td align="left" valign="top">In the second quarter of 2016, the Sohu Group recognized a one-time expense of $27.8 million that was related to a donation by Sogou to Tsinghua University related to setting up a joint research institute focusing on AI technology. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(5):</td> <td align="left" valign="top">The elimination represents interest income/ (expense) resulting from intra-Group loans between the Sohu segment and the Changyou segment. </td></tr></table> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="60%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="18" align="center" style="border-bottom:1.00pt solid #000000"><b>Six Months Ended June&nbsp;30, 2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Sohu</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Sogou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Changyou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Eliminations</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Consolidated</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revenues (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">193,342</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">373,227</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">270,231</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1,529</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">835,271</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment cost of revenues</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(229,749</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(192,914</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(74,066</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">70</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(496,659</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment gross profit</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(36,407</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">180,313</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">196,165</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,459</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">338,612</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SBC (2)&nbsp;in cost of revenues</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(341</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(5</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(68</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(414</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gross profit</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(36,748</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">180,308</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">196,097</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,459</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">338,198</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating expenses:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Product development (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(53,026</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(70,335</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(56,630</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,999</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(176,992</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sales and marketing (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(101,994</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(61,356</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(22,318</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,332</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(183,336</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General and administrative</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(18,308</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(9,936</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(17,178</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">63</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(45,359</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SBC (2)&nbsp;in operating expenses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">449</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(4,997</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(14,947</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(19,495</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total operating expenses</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(172,879</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(146,624</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(111,073</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">5,394</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(425,182</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating profit /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(209,627</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">33,684</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">85,024</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,935</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(86,984</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other income/(expense) (3)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">6,333</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">154</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4,853</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(3,935</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7,405</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest income (4)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,399</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,797</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">14,610</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(11,522</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10,284</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest expense (4)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(9,741</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,161</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11,522</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(380</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exchange difference</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(192</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,802</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2,300</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(5,294</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income /(loss) before income tax expense</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(209,828</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">34,833</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">100,026</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(74,969</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax expense</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,872</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(3,079</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(18,485</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(23,436</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(211,700</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">31,754</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">81,541</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(98,405</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="font-size:1px;margin-top:6px;margin-bottom:0px">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(1):</td> <td align="left" valign="top">The elimination mainly consists of revenues and expenses generated from marketing services among the Sohu, Sogou and Changyou segments. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(2):</td> <td align="left" valign="top">&#147;SBC&#148; stands for share-based compensation expense. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(3):</td> <td align="left" valign="top">The elimination mainly consists of leasing income and expenses generated from a building that Sohu leases to Sogou. </td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(4):</td> <td align="left" valign="top">The elimination represents interest income/ (expense) resulting from intra-Group loans between the Sohu segment and the Changyou segment. </td></tr></table> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="56%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="18" align="center" style="border-bottom:1.00pt solid #000000"><b>As of December&nbsp;31, 2016</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Sohu</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Sogou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Changyou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Eliminations</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Consolidated</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash and cash equivalents</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">167,691</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">286,078</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">597,188</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,050,957</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accounts receivable, net</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">100,317</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">41,781</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">47,150</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(81</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">189,167</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fixed assets, net</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">196,839</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">117,022</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">189,770</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">503,631</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total assets (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,241,844</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">499,589</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,708,037</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(885,780</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,563,690</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> </table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(1):</td> <td align="left" valign="top">The elimination for segment assets mainly consists of elimination of intra-Group loans between the Sohu segment and the Changyou segment, and elimination of long-term investments in subsidiaries and consolidated VIEs. </td></tr></table> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="55%"></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="2%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="18" align="center" style="border-bottom:1.00pt solid #000000"><b>As of June&nbsp;30, 2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Sohu</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Sogou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Changyou</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Eliminations</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Consolidated</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash and cash equivalents</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">104,408</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">310,864</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">518,439</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">933,711</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accounts receivable, net</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">111,992</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">46,523</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">94,119</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(83</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">252,551</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fixed assets, net</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">197,060</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">131,568</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">188,937</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">517,565</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total assets (1)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,156,548</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">555,511</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,846,355</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(1,014,144</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">2,544,270</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> </table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="8%" valign="top" align="left">Note&nbsp;(1):</td> <td align="left" valign="top">The elimination for segment assets mainly consists of elimination of intra-Group loans between the Sohu segment and the Changyou segment, and elimination of long-term investments in subsidiaries and consolidated VIEs. </td></tr></table> <p style="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b>12. SOHU.COM INC. SHAREHOLDERS&#146; EQUITY </b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Takeover Defense </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sohu intends to adopt appropriate defensive measures in the future on a case by case basis as and to the extent that Sohu&#146;s Board of Directors determines that such measures are necessary or advisable to protect Sohu stockholder value in the face of any coercive takeover threats or to prevent an acquirer from gaining control of Sohu without offering fair and adequate price and terms. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Treasury Stock </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Treasury stock consists of shares repurchased by Sohu.com Inc. that are no longer outstanding and are held by Sohu.com Inc. Treasury stock is accounted for under the cost method. For the six months ended June&nbsp;30, 2017 and 2016, the Company did not repurchase any shares of its common stock. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Stock Incentive Plans </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sohu (excluding Sohu Video), Sogou, Changyou, and Sohu Video have incentive plans for the granting of share-based awards, including options and restricted share units, to their directors, management and other key employees. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Sohu.com Inc. Share-based Awards </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Sohu&#146;s 2010 Stock Incentive Plan </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On July&nbsp;2, 2010, the Company&#146;s shareholders adopted the Sohu 2010 Stock Incentive Plan, which provides for the issuance of up to 1,500,000 shares of common stock, including stock issued pursuant to the vesting and settlement of restricted stock units and pursuant to the exercise of stock options. The maximum term of any stock right granted under the Sohu 2010 Stock Incentive Plan is ten years from the grant date. The Sohu 2010 Stock Incentive Plan will expire on July&nbsp;1, 2020. As of June&nbsp;30, 2017, 584,280 shares were available for grant under the Sohu 2010 Stock Incentive Plan. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Summary of Stock Option Activity </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February&nbsp;7, 2015 and May&nbsp;1, 2016, the Company&#146;s Board of Directors approved contractual grants to members of the Company&#146;s management and key employees of options for the purchase of an aggregate of 1,068,000 and 13,000 shares of common stock, respectively, with nominal exercise prices of $0.001. These stock options vest and become exercisable in four equal installments over a period of four years, with each installment vesting upon the satisfaction of a service period requirement and certain subjective performance targets. These stock options are substantially similar to restricted stock units except for the nominal exercise price, which would be zero for restricted stock units. </p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under <i>ASC 718-10-25</i> and <i>ASC 718-10-55</i>, no grant date can be established for these stock options until a mutual understanding is reached between the Company and the recipients clarifying the subjective performance requirements. If the service inception date preceded the grant date, compensation expense should be accrued beginning on the service inception date, and re-measured on each subsequent reporting date before the grant date is established, based on the then-current fair value of the awards. To determine the fair value of these stock options, the public market price of the underlying shares at each reporting date is used and a binomial valuation model is applied. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February&nbsp;7, 2016,&nbsp;February&nbsp;7, 2017, and May&nbsp;1, 2017, 253,250, 175,000, and 3,250, respectively, of these stock options had been granted and had become vested on their respective vesting dates, as a mutual understanding of the subjective performance targets was reached between the Company and the recipients, the targets had been satisfied, and the service period requirements had been fulfilled. The cumulative share-based compensation expense for these granted stock options has been adjusted and fixed based on their aggregate fair value at the grant date of $10.8 million, $7.0 million, and $0.1 million, respectively. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A summary of stock option activity under the Sohu 2010 Stock Incentive Plan as of and for the six months ended June&nbsp;30, 2017 is presented below: </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="60%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Weighted</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Number</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Weighted</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Average</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Aggregate</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Of</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Average</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Remaining</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Intrinsic</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Shares</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Exercise</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Contractual</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Value (1)</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:27.05pt; font-size:8pt; font-family:Times New Roman"><b>Options</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>(in&nbsp;thousands)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Price</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Life (Years)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>(in&nbsp;thousands)</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding at January&nbsp;1, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">193</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td nowrap="nowrap" valign="bottom">$</td> <td nowrap="nowrap" valign="bottom" align="right"></td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td nowrap="nowrap" valign="bottom">$</td> <td nowrap="nowrap" valign="bottom" align="right"></td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Granted</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">178</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.001</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercised</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(125</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.001</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Forfeited or expired</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">246</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.001</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7.62</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11,073</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Vested at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">246</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.001</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7.62</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11,073</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercisable at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">246</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.001</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7.62</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11,073</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> </table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Note (1): The aggregated intrinsic value in the preceding table represents the difference between Sohu&#146;s closing stock price of $45.06 on June&nbsp;30, 2017 and the nominal exercise prices of the stock options. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the three and six months ended June&nbsp;30, 2017, total share-based compensation expense recognized for these stock options was $2.4&nbsp;million and negative $0.1 million, respectively. For the three and six months ended June&nbsp;30, 2016, total share-based compensation expense recognized for these stock options was negative $1.0 million and negative $1.7 million, respectively. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Summary of Restricted Stock Unit Activity </p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A summary of restricted stock unit activity under the Sohu 2010 Stock Incentive Plan as of and for the six months ended June&nbsp;30, 2017 is presented below: </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="69%"></td> <td valign="bottom" width="12%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="12%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:76.35pt; font-size:8pt; font-family:Times New Roman"><b>Restricted Stock Units</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Number of<br/>Units<br/>(in&nbsp;thousands)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b><font style="white-space:nowrap">Weighted-Average</font><br/>Grant-Date<br/>Fair&nbsp;Value</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unvested at January&nbsp;1, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">70.24</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Granted</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td nowrap="nowrap" valign="bottom" align="right">&#151;</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Vested</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(2</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">64.00</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Forfeited</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(4</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">66.73</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unvested at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">5</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">82.59</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Expected to vest after June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">82.59</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> </table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the three and six months ended June&nbsp;30, 2017, total share-based compensation expense recognized for restricted stock units was $81,928 and $144,963, respectively. For the three and six months ended June&nbsp;30, 2016, total share-based compensation expense recognized for restricted stock units was $0.4 million and $0.8 million, respectively. </p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017, there was $0.1 million of unrecognized compensation expense related to unvested restricted stock units. The expense is expected to be recognized over a weighted average period of 0.31 years. No restricted stock units vested during the second quarter of 2017. The total fair value on their respective vesting dates of restricted stock units that vested during the three and six months ended June&nbsp;30, 2017 was $nil and $86,078, respectively. The total fair value on their respective vesting dates of restricted stock units that vested during the three and six months ended June&nbsp;30, 2016 was $0.1 million and $0.3 million, respectively. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Sogou Inc. Share-based Awards </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Sogou 2010 Share Incentive Plan </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sogou adopted a share incentive plan on October&nbsp;20, 2010. The number of Sogou ordinary shares issuable under the plan was 41,500,000 after an amendment that was effective August&nbsp;22, 2014 (as amended, the &#147;Sogou 2010 Share Incentive Plan&#148;). Awards of share rights may be granted under the Sogou 2010 Share Incentive Plan to management and employees of Sogou and of any present or future parents or subsidiaries or VIEs of Sogou. The maximum term of any share right granted under the Sogou 2010 Share Incentive Plan is ten years from the grant date. The Sogou 2010 Share Incentive Plan will expire on October&nbsp;19, 2020. As of June&nbsp;30, 2017, Sogou had contractually granted options for the purchase of 38,086,200 Sogou ordinary shares under the 2010 Sogou Share Incentive Plan. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Of the contractually-granted Sogou share options for the purchase of 38,086,200 Sogou ordinary shares, options for the purchase of 30,886,200 Sogou ordinary shares vest and become exercisable upon a service period requirement being met, as well as Sogou&#146;s achievement of performance targets for the corresponding period. Subject to achievement of the applicable performance targets, of these Sogou share options for the purchase of 30,886,200 Sogou ordinary shares, options for the purchase of 29,754,250 Sogou ordinary shares vest and become exercisable in four equal installments and options for the purchase of 1,131,950 Sogou ordinary shares vest and become exercisable in two to four installments over varying periods. For purposes of recognition of share-based compensation expense, each installment is considered to be granted as of the date that the performance target has been set. As of June&nbsp;30, 2017, Sogou had granted options for the purchase of 25,236,495 Sogou ordinary shares under the 2010 Sogou Share Incentive Plan. As of June&nbsp;30, 2017, options for the purchase of 25,167,933 Sogou ordinary shares had become vested and exercisable because both the service period and the performance requirements had been met, and of such vested options, options for the purchase of 24,887,823 Sogou ordinary shares had been exercised. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Of the contractually granted Sogou share options, options for the purchase of 7,200,000 Sogou ordinary shares vest and become exercisable in five equal installments, with (i)&nbsp;the first installment vesting upon Sogou&#146;s IPO and the expiration of all underwriters&#146; lockup periods applicable to Sogou&#146;s IPO, and (ii)&nbsp;each of the four subsequent installments vesting on the first, second, third and fourth anniversary dates, respectively, of the closing of Sogou&#146;s IPO. The completion of an IPO is considered to be a performance condition of the awards. An IPO is not considered to be probable until it is completed. Under <i>ASC 718</i>, compensation cost should be accrued if it is probable that the performance condition will be achieved and should not be accrued if it is not probable that the performance condition will be achieved. As a result, no compensation expense will be recognized related to these Sogou share options until the completion of an IPO, and hence no share-based compensation expense was recognized for the three and six months ended June&nbsp;30, 2017 for the options for the purchase of 7,200,000 Sogou ordinary shares that are subject to vesting upon completion of Sogou&#146;s IPO. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017, for purposes of recognition of share-based compensation expense, Sogou had granted Sogou share options for the purchase of 32,436,495 Sogou ordinary shares, of which options for the purchase of 7,548,672 Sogou ordinary shares were outstanding. A summary of Sogou share option activity under the Sogou 2010 Share Incentive Plan as of and for the six months ended June&nbsp;30, 2017 is presented below: </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="84%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="67%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Weighted</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Number</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Weighted</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Average</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Of</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Average</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Remaining</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Shares</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Exercise</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Contractual</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:27.05pt; font-size:8pt; font-family:Times New Roman"><b>Options</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>(in&nbsp;thousands)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Price</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Life (Years)</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding at January&nbsp;1, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">9,451</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.476</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Granted</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercised</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(1,893</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.001</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Forfeited or expired</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(9</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.001</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7,549</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.596</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">5.73</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Vested at June&nbsp;30, 2017 and expected to vest thereafter</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">349</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercisable at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">280</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> </table> <p style="font-size:1px;margin-top:12px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the three and six months ended June&nbsp;30, 2017, total share-based compensation expense recognized for share options under the Sogou 2010 Share Incentive Plan was $0.3 million and $0.7 million, respectively. For the three and six months ended June&nbsp;30, 2016, total share-based compensation expense recognized for share options under the Sogou 2010 Share Incentive Plan was $0.1 million and $1.2 million, respectively. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017, there was $0.1 million of unrecognized compensation expense related to the unvested Sogou share options. The expense is expected to be recognized over a weighted average period of 0.35 years. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The fair value of the ordinary shares of Sogou was assessed using the income approach /discounted cash flow method, with a discount for lack of marketability, given that the shares underlying the awards were not publicly traded at the time of grant, and was determined with the assistance of a qualified professional appraiser using management&#146;s estimates and assumptions. This assessment required complex and subjective judgments regarding Sogou&#146;s projected financial and operating results, its unique business risks, the liquidity of its ordinary shares and its operating history and prospects at the time the grants were made. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The fair value of the Sogou share options granted to Sogou management and key employees was estimated on the date of grant using the Binomial option - pricing model (the &#147;BP Model&#148;) with the following assumptions used: </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="68%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="81%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:75.30pt; font-size:8pt; font-family:Times New Roman"><b>Assumptions Adopted</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Average risk-free interest rate</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td nowrap="nowrap" valign="bottom" align="right">2.14%~2.26%</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercise multiple</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2~3</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Expected forfeiture rate (post-vesting)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1%~12%</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Weighted average expected option life</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">9</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Volatility rate</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">47%</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dividend yield</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0%</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fair value</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3.18</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> </table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sogou estimated the risk-free rate based on the market yields of U.S. Treasury securities with an estimated country-risk differential as of the valuation date. An exercise multiple was estimated as the ratio of the fair value of the Sogou ordinary shares over the exercise price as of the time the Sogou share option is exercised, based on consideration of research studies regarding exercise patterns based on historical statistical data. In Sogou&#146;s valuation analysis, a multiple of two was applied for employees and a multiple of three was applied for management. Sogou estimated the forfeiture rate to be 1% for the Sogou share options granted to Sogou management and 12% for the Sogou share options granted to Sogou employees. As there is no trading market for Sogou&#146;s ordinary shares, the expected volatility at the valuation date was estimated based on the historical volatility of comparable companies for the period before the grant date with length commensurate with the expected term of the Sogou share options. Sogou has no history or expectation of paying dividends on its ordinary shares. Accordingly, the dividend yield was estimated to be 0%. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Sohu Management Sogou Share Option Arrangement </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under an arrangement (the &#147;Sohu Management Sogou Share Option Arrangement&#148;) that was approved by the boards of directors of Sohu and Sogou in March 2011, Sohu has the right to provide to members of Sohu&#146;s Board of Directors, management and key employees of the Sohu Group the opportunity to purchase from Sohu up to 12,000,000 ordinary shares of Sogou at a fixed exercise price of $0.625 or $0.001 per share. Of these 12,000,000 ordinary shares, 8,800,000 are Sogou ordinary shares previously held by Sohu and 3,200,000 are Sogou ordinary shares that were newly-issued on April&nbsp;14, 2011 by Sogou to Sohu at a price of $0.625 per share, or a total of $2.0 million. As of June&nbsp;30, 2017, Sohu had contractually granted options for the purchase of 10,705,000 Sogou ordinary shares to members of Sohu&#146;s Board of Directors, management and other key employees under the Sohu Management Sogou Share Option Arrangement. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Of the contractually-granted Sogou share options for the purchase of 10,705,000 Sogou ordinary shares, options for the purchase of 8,290,000 Sogou ordinary shares vest and become exercisable in four equal installments, with each installment vesting upon a service period requirement for Sohu&#146;s management and key employees being met, as well as Sogou&#146;s achievement of performance targets for the corresponding period. For purposes of recognition of share-based compensation expense, each installment is considered to be granted as of the date that the performance target has been set. As of June&nbsp;30, 2017, Sohu had granted Sogou share options for the purchase of 8,290,000 Sogou ordinary shares under the Sohu Management Sogou Share Option Arrangement. As of June&nbsp;30, 2017, options for the purchase of 8,290,000 Sogou ordinary shares had become vested and exercisable because both the service period and the performance requirements had been met, and vested options for the purchase of 8,290,000 Sogou ordinary shares had been exercised. </p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Options for the purchase of 15,000 Sogou ordinary shares that were granted to members of Sohu&#146;s Board of Directors in 2015 vested and became exercisable in 2015, as the service period requirement for vesting had been met. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The remaining options for the purchase of 2,400,000 Sogou ordinary shares vest and become exercisable in five equal installments, with (i)&nbsp;the first installment vesting upon Sogou&#146;s IPO and the expiration of all underwriters&#146; lockup periods applicable to the IPO, and (ii)&nbsp;each of the four subsequent installments vesting on the first, second, third and fourth anniversary dates, respectively, of the completion of Sogou&#146;s IPO. All installments of the Sogou share options for the purchase of 2,400,000 Sogou ordinary shares that are subject to vesting upon the completion of Sogou&#146;s IPO were considered granted upon the issuance of the options. The completion of a firm commitment IPO is considered to be a performance condition of the awards. An IPO event is not considered to be probable until it is completed. Under <i>ASC 718</i>, compensation cost should be accrued if it is probable that the performance condition will be achieved and should not be accrued if it is not probable that the performance condition will be achieved. As a result, no compensation expense will be recognized related to these Sogou share options until the completion of an IPO, and hence no share-based compensation expense was recognized for the three and six months ended June&nbsp;30, 2017 for these options for the purchase of 2,400,000 Sogou ordinary shares. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017, for purposes of recognition of share-based compensation expense, Sohu had granted options for the purchase of 10,705,000 Sogou ordinary shares, of which options for the purchase of 2,412,000 Sogou ordinary shares were outstanding. A summary of Sogou share option activity under the Sohu Management Sogou Share Option Arrangement as of and for the six months ended June&nbsp;30, 2017 is presented below: </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="84%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="67%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Weighted</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Number</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Weighted</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Average</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Of</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Average</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Remaining</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Shares</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Exercise</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center"><b>Contractual</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:27.05pt; font-size:8pt; font-family:Times New Roman"><b>Options</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>(in&nbsp;thousands)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Price</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Life (Years)</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding at January&nbsp;1, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,190</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.623</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Granted</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercised</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(778</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.625</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Forfeited or expired</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,412</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.622</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">5.68</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Vested at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">12</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercisable at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">12</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> </table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the three and six months ended June&nbsp;30, 2017, total share-based compensation expense recognized for share options under the Sohu Management Sogou Share Option Arrangement were both nil. For the three and six months ended June&nbsp;30, 2016, total share-based compensation expense recognized for share options under the Sohu Management Sogou Share Option Arrangement was nil and $0.3 million, respectively. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017, there was no unrecognized compensation expense related to unvested Sogou share options. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The method used to determine the fair value of Sogou share options granted to members of Sohu&#146;s Board of Directors, management and other employees was the same as the method used for the Sogou share options granted to Sogou&#146;s management and key employees as described above. There was no share-based compensation expense recognized under the Sohu Management Sogou Share Option Arrangement for the three and six months ended June&nbsp;30, 2017. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Sogou Share Repurchase Transaction </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In January 2017, Sogou repurchased 720,000 of its Class&nbsp;A Ordinary Shares from the former President and Chief Financial Officer of the Sohu Group for an aggregate price of $7.2 million. Approximately $4.0 million incremental share-based compensation expense associated with the repurchase, which was made pursuant to letter agreements entered into in 2016 between the Sohu Group and the former President and Chief Financial Officer of the Sohu Group in connection with her resignation, which amount is equal to the excess of the repurchase price over the fair value of Sogou Class&nbsp;A Ordinary Shares as of the repurchase date, related to events occurring in 2016 and was recorded in the Sohu Group&#146;s statements of comprehensive income for the first quarter of 2017. The Group assessed the impact and determined that it was not material to the quarter ended December&nbsp;31, 2016, the year ended December&nbsp;31, 2016, or the six months ended June&nbsp;30, 2017. </p> <p style="font-size:1px;margin-top:18px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Option Modification </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the first and second quarter of 2013, a portion of the Sogou share options granted under the Sogou 2010 Share Incentive Plan and the Sohu Management Sogou Share Option Arrangement were exercised early, and the resulting Sogou ordinary shares issued upon exercise were transferred to trusts with the original option grantees as beneficiaries. The trusts will distribute the Sogou ordinary shares to those beneficiaries in installments based on the vesting requirements under the original option agreements. Although these trust arrangements caused a modification of the terms of these Sogou share options, the modification was not considered substantive. Accordingly, no incremental fair value related to these Sogou ordinary shares resulted from the modification, and the remaining share-based compensation expense for these Sogou ordinary shares continued to be recognized over the original remaining vesting period. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017, 10,327,500 Sogou ordinary shares that were purchased upon the early exercise of options granted under the Sogou 2010 Share Incentive Plan remained unvested in accordance with the vesting requirements under the original option agreements. All Sogou ordinary shares purchased upon such early-exercise are included in the disclosures under the heading &#147;Sogou 2010 Share Incentive Plan&#148; and &#147;Sohu Management Sogou Share Option Arrangement&#148; above. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Tencent Share-based Awards Granted to Employees Who Transferred to Sogou with the Soso Search and Search-related Business </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain persons who became Sogou employees when Tencent&#146;s Soso search and search-related businesses were transferred to Sogou on September&nbsp;16, 2013 had been granted restricted share units under Tencent&#146;s share award arrangements prior to the transfer of the businesses. Following the transfer of the businesses, these Tencent restricted share units will continue to vest under the original Tencent share award arrangements provided the transferred employees continue to be employed by Sogou during the requisite service period. After the transfer of the Soso search and search-related businesses to Sogou, Sogou applied the guidance in <i>ASC 505-50</i> to measure the related compensation expense, based on the then-current fair value at each reporting date, which is deemed to have been incurred by Tencent as an investor on Sogou&#146;s behalf. To determine the then-current fair value of the Tencent restricted share units granted to these employees, the public market price of the underlying shares at each reporting date was applied. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017, unvested Tencent restricted share unit awards held by these employees provided for the issuance of up to 40,300 ordinary shares of Tencent, taking into consideration a five-for-one split of Tencent&#146;s shares that became effective in May 2014. For the three and six months ended June&nbsp;30, 2017, share-based compensation expense of $0.3 million and $0.3 million, respectively, related to these Tencent restricted share units was recognized in the Group&#146;s consolidated statements of comprehensive income. For the three and six months ended June&nbsp;30, 2016, share-based compensation expense of $0.5 million and $0.8 million, respectively, related to these Tencent restricted share units was recognized in the Group&#146;s consolidated statements of comprehensive income. As of June&nbsp;30, 2017, there was $0.1 million of unrecognized compensation expense related to these unvested Tencent restricted share units. This amount is expected to be recognized over a weighted average period of 0.85 years. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Changyou.com Limited Share-based Awards </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Changyou&#146;s 2008 Share Incentive Plan </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Changyou&#146;s 2008 Share Incentive Plan (the &#147;Changyou 2008 Share Incentive Plan&#148;) originally provided for the issuance of up to 2,000,000 Changyou ordinary shares, including Changyou ordinary shares issued pursuant to the exercise of share options and upon vesting and settlement of restricted share units. The 2,000,000 reserved Changyou ordinary shares became 20,000,000 Changyou ordinary shares in March 2009 when Changyou effected a ten-for-one share split of its ordinary shares. Most of the awards granted under the Changyou 2008 Share Incentive Plan vest over a period of four years. The maximum term of any share right granted under the Changyou 2008 Share Incentive Plan is ten years from the grant date. The Changyou 2008 Share Incentive Plan will expire in August 2018. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Prior to the completion of Changyou&#146;s initial public offering, Changyou had granted under the Changyou 2008 Share Incentive Plan 15,000,000 Changyou ordinary shares to its former chief executive officer Tao Wang, through Prominence Investments Ltd., which is an entity that may be deemed under applicable rules of the Securities and Exchange Commission to be beneficially owned by Tao Wang. Through June&nbsp;30, 2017, Changyou had also granted under the Changyou 2008 Share Incentive Plan restricted share units, settleable upon vesting by the issuance of an aggregate of 4,614,098 Changyou ordinary shares, to certain members of its management other than Tao Wang, and certain other Changyou employees. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Share-based Awards granted before Changyou&#146;s IPO </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All of the restricted Changyou ordinary shares and restricted share units granted before Changyou&#146;s IPO became vested by the end of 2013. Hence there has been no share-based compensation expense recognized with respect to such restricted Changyou ordinary shares and restricted share units since their respective vesting dates. </p> <p style="font-size:1px;margin-top:18px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Share-based Awards granted after Changyou&#146;s IPO </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Through June&nbsp;30, 2017, in addition to the share-based awards granted before Changyou&#146;s IPO, Changyou had granted restricted share units, settleable upon vesting with the issuance of an aggregate of 1,581,226 Changyou ordinary shares, to certain members of its management other than Tao Wang and to certain of its other employees. These Changyou restricted share units are subject to vesting over a four-year period commencing on their grant dates. Share-based compensation expense for such Changyou restricted share units is recognized on an accelerated basis over the requisite service period. The fair value of Changyou restricted share units was determined based on the market price of Changyou&#146;s ADSs on the grant date. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A summary of activity for these restricted share units as of and for the six months ended June&nbsp;30, 2017 is presented below: </p> <p style="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" align="center"> <tr> <td width="68%"></td> <td valign="bottom" width="13%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="13%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:77.25pt; font-size:8pt; font-family:Times New Roman"><b>Restricted Share Units</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Number of</b><br/><b>Units</b><br/><b>(in&nbsp;thousands)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b><font style="white-space:nowrap">Weighted-Average</font><br/>Grant-Date<br/>Fair Value</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Unvested at January&nbsp;1, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">14.25</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Granted</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Vested</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Forfeited</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Unvested at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">14.25</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Expected to vest after June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">10</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">14.25</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> </table> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the three and six months ended June&nbsp;30, 2017, total share-based compensation expense recognized for the above restricted share units was $9,000 and $18,000, respectively. For the three and six months ended June&nbsp;30, 2016, total share-based compensation expense recognized for the above restricted share units was $22,000 and $44,000, respectively. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017, there was $12,000 of unrecognized compensation expense related to unvested restricted share units that were unvested. The expense is expected to be recognized over a weighted average period of 0.42 years. No restricted share units vested during the three and six months ended June&nbsp;30, 2017. Therefore, the total fair value of restricted share units that vested during the three and six months ended June&nbsp;30, 2017 was nil for both periods. The total fair value of these restricted share units that were vested during the three and six months ended June&nbsp;30, 2016 was nil and nil, respectively. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Changyou 2014 Share Incentive Plan </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On June&nbsp;27, 2014, Changyou reserved 2,000,000 of its Class&nbsp;A ordinary shares under the Changyou.com Limited 2014 Share Incentive Plan (the &#147;Changyou 2014 Share Incentive Plan&#148;) for the purpose of making share incentive awards to certain members of its management and key employees. On November&nbsp;2, 2014, the number of Class&nbsp;A ordinary shares reserved under the Changyou 2014 Share Incentive Plan increased from 2,000,000 to 6,000,000. The maximum term of any share right granted under the Changyou 2014 Share Incentive Plan is ten years from the grant date. The Changyou 2014 Share Incentive Plan will expire in June 2024. As of June&nbsp;30, 2017, 2,886,000 shares were available for grant under the Changyou 2014 Share Incentive Plan. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><u>Summary of Share Option Activity</u> </p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On November&nbsp;2, 2014, Changyou approved the contractual grant of an aggregate of 2,416,000 Class&nbsp;A restricted share units to certain members of its management and certain other employees. On February&nbsp;16, 2015, Changyou&#146;s Board of Directors approved the conversion of 2,400,000 of these Class&nbsp;A restricted share units into options for the purchase of Class&nbsp;A ordinary shares at an exercise price of $0.01. On June&nbsp;1, 2015, Changyou&#146;s Board of Directors approved the contractual grant of options for the purchase of an aggregate of 1,998,000 Class&nbsp;A ordinary shares to certain members of its management and certain other employees at an exercise price of $0.01. On July&nbsp;28, 2016, Changyou&#146;s Board of Directors approved the contractual grant of options for the purchase of an aggregate of 100,000 Class&nbsp;A ordinary shares to certain member of its management at an exercise price of $0.01. These Changyou share options vest in four equal installments over a period of four years, with each installment vesting upon satisfaction of a service period requirement and the achievement of certain subjective performance targets. These Changyou share options are substantially similar to restricted share units except for the nominal exercise price, which would be zero for restricted share units. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under <i>ASC 718-10-25</i> and <i>ASC 718-10-55</i>, no grant date can be established until a mutual understanding is reached between the Company and the recipients clarifying the subjective performance requirements. If the service inception date preceded the grant date, compensation expense should be accrued beginning on the service inception date, and re-measured on each subsequent reporting date before the grant date is established, based on the then-current fair value of the awards. To determine the fair value of these Changyou share options, the public market price of the underlying Changyou Class&nbsp;A ordinary shares at each reporting date is used and a binomial valuation model is applied. </p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of June&nbsp;30, 2017, 1,524,000 of these Changyou share options had been granted and had become vested on their respective vesting dates, as a mutual understanding of the subjective performance targets had been reached between Changyou and the recipients, the targets had been satisfied, and the service period requirements had been fulfilled. The cumulative share-based compensation expense for these granted share options has been adjusted and fixed based on their aggregate fair value at the grant date of $19.5 million. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A summary of share option activity under the Changyou 2014 Share Incentive Plan as of and for the six months ended June&nbsp;30, 2017 is presented below: </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="58%"></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="7%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:27.05pt; font-size:8pt; font-family:Times New Roman"><b>Options</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Number&nbsp;Of<br/>Shares<br/>(in&nbsp;thousands)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Weighted<br/>Average<br/>Exercise<br/>Price</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Weighted<br/>Average<br/>Remaining<br/>Contractual<br/>Life (Years)</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>Aggregate<br/>Intrinsic<br/>Value (1)<br/>(in&nbsp;thousands)</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding at January&nbsp;1, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">852</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0.01</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7.93</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">9,032</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Granted</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">295</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercised</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(570</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.01</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Forfeited or expired</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">577</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.01</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">7.65</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11,180</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Vested at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">577</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.01</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">11,180</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercisable at June&nbsp;30, 2017</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">577</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.01</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> </table> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Note (1): The aggregated intrinsic value in the preceding table represents the difference between Changyou&#146;s closing price of $38.76 per ADS, or $19.38 per Class&nbsp;A ordinary share, on June&nbsp;30, 2017 and the nominal exercise price of share option. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the three and six months ended June&nbsp;30, 2017, share-based compensation expense recognized for these share options under the Changyou 2014 Share Incentive Plan was $9.5 million and $15.0 million, respectively. For the three and six months ended June&nbsp;30, 2016, share-based compensation expense recognized for these share options under the Changyou 2014 Share Incentive Plan was $3.4 million and $2.1 million, respectively. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Sohu Video Share-based Awards </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On January&nbsp;4, 2012, Sohu Video adopted the Video 2011 Share Incentive Plan, under which 25,000,000 ordinary shares of Sohu Video are reserved for the purpose of making share incentive awards to management and key employees of Sohu Video and to Sohu management. The maximum term of any share incentive award granted under the Video 2011 Share Incentive Plan is ten years from the grant date. The Video 2011 Share Incentive Plan will expire on January&nbsp;3, 2021. As of June&nbsp;30, 2017, grants of options for the purchase of 16,368,200 ordinary shares of Sohu Video had been contractually made and were subject to vesting in four equal installments, with each installment vesting upon a service period requirement being met, as well as Sohu Video&#146;s achievement of performance targets for the corresponding period. For purposes of <i>ASC 718-10-25</i>, as of June&nbsp;30, 2017, no grant date had occurred, because the broader terms and conditions of the option awards had neither been finalized nor mutually agreed upon with the recipients. As of June&nbsp;30, 2017, options for the purchase of 4,972,800 Sohu Video ordinary shares were vested. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the three and six months ended June&nbsp;30, 2017, total share-based compensation expense recognized for vested options under the Video 2011 Share Incentive Plan was $99,456 and negative $99,456, respectively. For the three and six months ended June&nbsp;30, 2016, total share-based compensation expense recognized for vested options under the Video 2011 Share Incentive Plan was negative $0.8 million and negative $0.6 million, respectively. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The fair value as of June&nbsp;30, 2017 of the Sohu Video options contractually granted to management and key employees of Sohu Video and to Sohu management was estimated on the reporting date using the BP Model, with the following assumptions used: </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="68%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="92%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom" nowrap="nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:75.30pt; font-size:8pt; font-family:Times New Roman"><b>Assumptions Adopted</b></p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td colspan="2" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Average risk-free interest rate</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2.52</td> <td nowrap="nowrap" valign="bottom">%&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercise multiple</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2.8</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Expected forfeiture rate (post-vesting)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">14</td> <td nowrap="nowrap" valign="bottom">%&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Weighted average expected option life</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4.5</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Volatility rate</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">44.4</td> <td nowrap="nowrap" valign="bottom">%&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dividend yield</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.00</td> <td nowrap="nowrap" valign="bottom">%&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fair value</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0.68</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> </table> <p style="font-size:1px;margin-top:16px;margin-bottom:0px">&nbsp;</p> <p style="font-size:1px;margin-top:18px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b>11. VIES </b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b></b><b><i>Background</i></b><b> </b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PRC laws and regulations prohibit or restrict foreign ownership of companies that operate Internet information and content, Internet access, online games, mobile, value added telecommunications and certain other businesses in which the Sohu Group is engaged or could be deemed to be engaged. Consequently, the Sohu Group conducts certain of its operations and businesses in the PRC through its VIEs. The Sohu Group consolidates in its consolidated financial statements all of the VIEs of which the Group is the primary beneficiary. </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b></b><b><i>VIEs Consolidated within the Sohu Group</i></b><b> </b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Sohu Group adopted the guidance of accounting for VIEs, which requires VIEs to be consolidated by the primary beneficiary of the entity. Management made evaluations of the relationships between the Sohu Group and its VIEs and the economic benefit flow of contractual arrangements with the VIEs. In connection with such evaluation, management also took into account the fact that, as a result of contractual arrangements with its consolidated VIEs, the Sohu Group controls the shareholders&#146; voting interests in those VIEs. As a result of such evaluation, the management concluded that the Sohu Group is the primary beneficiary of the VIEs which the Group consolidates. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All of the consolidated VIEs are incorporated and operated in the PRC, and the Group&#146;s principal VIEs are directly or indirectly owned by Dr.&nbsp;Charles Zhang, the Sohu Group&#146;s Chairman and Chief Executive Officer, or other executive officers and employees of the Sohu Group identified below. Capital for the consolidated VIEs was funded by the Sohu Group through loans provided to Dr.&nbsp;Charles Zhang and other executive officers and employees, and was initially recorded as loans to related parties. These loans are eliminated for accounting purposes against the capital of the VIEs upon consolidation. </p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under contractual agreements with the Sohu Group, Dr.&nbsp;Charles Zhang and those other executive officers and employees of the Sohu Group who are shareholders of the consolidated VIEs are required to transfer their ownership in these entities to the Group, if permitted by PRC laws and regulations, or, if not so permitted, to designees of the Group at any time as requested by the Group to repay the loans outstanding. All voting rights of the consolidated VIEs are assigned to the Sohu Group, and the Group has the right to designate all directors and senior management personnel of the consolidated VIEs, and also has the obligation to absorb losses of the consolidated VIEs. Dr.&nbsp;Charles Zhang and those other executive officers and employees of the Sohu Group who are shareholders of the consolidated VIEs have pledged their shares in the consolidated VIEs as collateral for the loans. As of June&nbsp;30, 2017, the aggregate amount of these loans was $9.4 million. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under its contractual arrangements with the consolidated VIEs, the Sohu Group has the power to direct activities of the VIEs, and can have assets transferred freely out of the VIEs without any restrictions. Therefore, the Group considers that there is no asset of a consolidated VIE that can be used only to settle obligations of the VIEs, except for registered capital and PRC statutory reserves of the VIEs. As of June&nbsp;30, 2017, the registered capital and PRC statutory reserves of the consolidated VIEs totaled $79.7 million. As all of the consolidated VIEs are incorporated as limited liability companies under the PRC Company Law, creditors of the consolidated VIEs do not have recourse to the general credit of the Sohu Group for any of the liabilities of the consolidated VIEs. Currently there is no contractual arrangement that could require the Sohu Group to provide additional financial support to the consolidated VIEs. As the Sohu Group is conducting certain business in the PRC mainly through the consolidated VIEs, the Group may provide such support on a discretionary basis in the future, which could expose the Group to a loss. </p> <p style="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Sohu Group classified the consolidated VIEs within the Sohu Group as principal VIEs or immaterial VIEs based on certain criteria, such as the VIEs&#146; total assets or revenues. The following is a summary of the principal VIEs within the Sohu Group: </p> <p style="margin-top:14pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Basic Information for Principal VIEs and Subsidiaries of Principal VIEs </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>For Sohu&#146;s Business </i></p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">High Century </td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Beijing Century High Tech Investment Co., Ltd. (&#147;High Century&#148;) was incorporated in 2001. As of June&nbsp;30, 2017, the registered capital of High Century was $4.6 million and Dr.&nbsp;Charles Zhang and Wei Li held 80% and 20% interests, respectively, in this entity. </p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Heng Da Yi Tong </td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Beijing Heng Da Yi Tong Information Technology Co., Ltd. (&#147;Heng Da Yi Tong&#148;) was incorporated in 2002. As of June&nbsp;30, 2017, the registered capital of Heng Da Yi Tong was $1.2 million and Dr.&nbsp;Charles Zhang and Wei Li held 80% and 20% interests, respectively, in this entity. </p> <p style="font-size:1px;margin-top:6px;margin-bottom:0px">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Sohu Internet </td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Sohu Internet was incorporated in 2003. As of June&nbsp;30, 2017, the registered capital of Sohu Internet was $1.6 million and High Century held a 100% interest in this entity. </p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Donglin </td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Beijing Sohu Donglin Advertising Co., Ltd. (&#147;Donglin&#148;) was incorporated in 2010. As of June&nbsp;30, 2017, the registered capital of Donglin was $1.5 million and Sohu Internet held a 100% interest in this entity. </p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Tianjin Jinhu </td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Tianjin Jinhu Culture Development Co., Ltd. (&#147;Tianjin Jinhu&#148;) was incorporated in 2011. In October, 2016, Ye Deng transferred its 50% equity interest in Tianjin Jinhu to Xiufeng Deng. As of June&nbsp;30, 2017, the registered capital of Tianjin Jinhu was $0.5 million and Xiufeng Deng and Xuemei Zhang each held a 50% interest in this entity. </p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Guangzhou Qianjun </td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Guangzhou Qianjun was acquired in November 2014. As of June&nbsp;30, 2017, the registered capital of Guangzhou Qianjun was $3.3&nbsp;million and Tianjin Jinhu held a 100% interest in this entity. </p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Focus Interactive </td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Beijing Focus Interactive Information Service Co., Ltd. (&#147;Focus Interactive&#148;) was incorporated in July 2014. As of June&nbsp;30, 2017, the registered capital of Focus Interactive was $1.6 million and Heng Da Yi Tong held 100% of the equity interests in this entity. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>For Sogou&#146;s Business </i></p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Sogou Information </td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Sogou Information was incorporated in 2005. As of June&nbsp;30, 2017, the registered capital of Sogou Information was $2.5&nbsp;million and Xiaochuan Wang, Sogou&#146;s Chief Executive Officer, High Century and Tencent held 10%, 45% and 45% interests, respectively, in this entity. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>For Changyou&#146;s Business </i></p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Gamease </td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Gamease was incorporated in 2007. As of June&nbsp;30, 2017, the registered capital of Gamease was $1.3 million and High Century held a 100% interest in this entity. </p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Guanyou Gamespace </td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Beijing Guanyou Gamespace Digital Technology Co., Ltd. (&#147;Guanyou Gamespace&#148;) was incorporated in 2010. As of June&nbsp;30, 2017, the registered capital of Guanyou Gamespace was $1.5 million and Beijing Changyou Star Digital Technology Co., Ltd (&#147;Changyou Star&#148;) held a 100% interest in this entity. </p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Shanghai ICE </td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Shanghai ICE Information Technology Co., Ltd. (&#147;Shanghai ICE&#148;) was acquired by Changyou in 2010. As of June&nbsp;30, 2017, the registered capital of Shanghai ICE was $1.2 million and Gamease held a 100% interest in this entity. </p> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style = "page-break-inside:avoid"> <td width="1%">&nbsp;</td> <td width="2%" valign="top" align="left">&#149;</td> <td width="1%" valign="top">&nbsp;</td> <td align="left" valign="top">Wuhan Baina Information </td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Baina (Wuhan) Information Technology Co., Ltd. (&#147;Wuhan Baina Information&#148;) was acquired by Gamease in July 2014. As of June&nbsp;30, 2017, the registered capital of Wuhan Baina Information was $3.0 million and Changyou Star and Yongzhi Yang, the former chief executive officer of MoboTap, held 60% and 40% interests, respectively, in this entity. </p> <p style="font-size:1px;margin-top:18px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Financial Information </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following financial information of the Sohu Group&#146;s consolidated VIEs (including subsidiaries of VIEs) is included in the accompanying consolidated financial statements (in thousands): </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="74%"></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="6%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>As of</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>December&nbsp;31,<br/>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>June&nbsp;30,</b><br/><b>2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ASSETS:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash and cash equivalents</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">94,859</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">62,665</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accounts receivable, net</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">72,151</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">94,180</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Prepaid and other current assets</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">86,722</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">33,581</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Assets held for sale</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">12,551</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intra-Group receivables due from the Company&#146;s subsidiaries</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">197,438</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">340,392</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total current assets</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">463,721</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">530,818</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Long-term investments, net</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">17,472</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">16,856</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fixed assets, net</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4,372</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,604</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intangible assets, net</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">14,545</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">13,000</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Goodwill</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">35,161</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">36,597</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other non-current assets</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">4,052</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">2,855</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total assets</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">539,323</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">603,730</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">LIABILITIES:</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accounts payable</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">15,824</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">33,767</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accrued liabilities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">96,695</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">72,944</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Receipts in advance and deferred revenue</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">44,797</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">43,613</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Liabilities held for sale</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,232</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other current liabilities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">111,775</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">110,913</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intra-Group payables due to the Company&#146;s subsidiaries</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">129,431</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">150,052</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total current liabilities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">401,754</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">411,289</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Long-term taxes payable</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">13,463</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">13,787</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred tax liabilities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,273</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">1,253</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intra-Group payables due to the Company&#146;s subsidiaries</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">19,620</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">20,079</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total liabilities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">436,110</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">446,408</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="92%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" align="center"> <tr> <td width="64%"></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="3%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>Three&nbsp;months&nbsp;ended&nbsp;June&nbsp;30,</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>Six&nbsp;months&nbsp;ended&nbsp;June&nbsp;30,</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net revenue</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">228,018</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">236,251</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">446,682</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">426,959</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income /(loss)</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">9,924</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">42,776</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">15,516</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">52,208</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</p> <table cellspacing="0" cellpadding="0" width="76%" border="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" align="center"> <tr> <td width="79%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="6" align="center" style="border-bottom:1.00pt solid #000000"><b>Six&nbsp;months&nbsp;ended&nbsp;June&nbsp;30,</b></td> <td valign="bottom">&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt"> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2016</b></td> <td valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom" colspan="2" align="center" style="border-bottom:1.00pt solid #000000"><b>2017</b></td> <td valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net cash provided by /(used in) operating activities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">30,899</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">(55,266</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net cash provided by /(used in) investing activities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">(931</td> <td nowrap="nowrap" valign="bottom">)&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">&nbsp;</td> <td valign="bottom" align="right">3,841</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr bgcolor="#cceeff" style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td valign="top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net cash provided by financing activities</p></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">0</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">6,309</td> <td nowrap="nowrap" valign="bottom">&nbsp;</td></tr> <tr style="font-size:1px; "> <td valign="bottom"></td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td> <td valign="bottom">&nbsp;&nbsp;</td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td valign="bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</p></td> <td>&nbsp;</td></tr> </table> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>Summary of Significant Agreements Currently in Effect </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Agreements Between Subsidiaries, Consolidated VIEs and Nominee Shareholders </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Loan and share pledge agreement</i> between Sohu Media and the shareholders of High Century: The agreement provides for loans to the shareholders of High Century for them to make contributions to the registered capital of High Century in exchange for the equity interests in High Century, and the shareholders pledge those equity interests to Sohu Media as security for the loans. The agreement includes powers of attorney that give Sohu Media the power to appoint nominees to act on behalf of the shareholders of High Century in connection with all actions to be taken by High Century. Pursuant to the agreement, the shareholders executed in blank transfers of their equity interests in High Century, which are held by the Sohu Group&#146;s legal department and may be completed and effected at Sohu Media&#146;s election. </p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Loan and share pledge agreement </i>between Sohu Focus (HK) Limited (&#147;Focus HK&#148;) and the shareholders of Heng Da Yi Tong: The agreement provides for loans to the shareholders of Heng Da Yi Tong for them to make contributions to the registered capital of Heng Da Yi Tong in exchange for the equity interests in Heng Da Yi Tong, and the shareholders pledge those equity interests to Focus HK as security for the loans. The agreement includes powers of attorney that give Focus HK the power to appoint nominees to act on behalf of the shareholders of Heng Da Yi Tong in connection with all actions to be taken by Heng Da Yi Tong. Pursuant to the agreement, the shareholders executed in blank transfers of their equity interests in Heng Da Yi Tong, which are held by the Sohu Group&#146;s legal department and may be completed and effected at Focus HK&#146;s election. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Loan and share pledge agreements</i> between Sogou Technology and the shareholders of Sogou Information. The loan agreement provides for a loan to Xiaochuan Wang, who holds 10% of the equity interest in Sogou Information, to be used by him to make contributions to the registered capital of Sogou Information in exchange for his equity interest in Sogou Information. The loan is interest free-and is repayable on demand, but Mr.&nbsp;Wang may repay the loan only by transferring to Sogou Technology his equity interest in Sogou Information. Under the pledge agreement, all of the shareholders of Sogou Information pledge their equity interests to Sogou Technology to secure the performance of their obligations under the various VIE-related agreements. If any shareholder of Sogou Information breaches any of his or its obligations under any VIE-related agreements, Sogou Technology is entitled to exercise its rights as the beneficiary under the share pledge agreement. The share pledge agreement terminates only after all of the obligations of the shareholders under the various VIE-related agreements are no longer in effect. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Exclusive equity interest purchase right agreements</i> between Sogou Technology, Sogou Information and the shareholders of Sogou Information. Pursuant to these agreements, Sogou Technology and any third party designated by it have the right, exercisable at any time when it becomes legal to do so under PRC law, to purchase from the shareholders of Sogou Information all or any part of their equity interests at the lowest purchase price permissible under PRC law. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Business operation agreement </i>among Sogou Technology, Sogou Information and the shareholders of Sogou Information. The agreement sets forth the right of Sogou Technology to control the actions of the shareholders of Sogou Information. The agreement has a term of 10 years and is renewable at the request of Sogou Technology. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Powers of Attorney</i> executed by the shareholders of Sogou Information in favor of Sogou Technology with a term of 10 years and is extendable at the request of Sogou Technology. These powers of attorney give Sogou Technology the right to appoint nominees to act on behalf of each of the three Sogou Information shareholders in connection with all actions to be taken by Sogou Information. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Loan agreements and equity pledge agreements</i> between Fox Information Technology (Tianjin) Limited (&#147;Video Tianjin&#148;) and the shareholders of Tianjin Jinhu. The loan agreements provide for loans to the shareholders of Tianjin Jinhu for them to make contributions to the registered capital of Tianjin Jinhu in exchange for the equity interests in Tianjin Jinhu. Under the equity pledge agreements, the shareholders of Tianjin Jinhu pledge to Video Tianjin their equity interests in Tianjin Jinhu to secure the performance of their obligations under the loan agreements and Tianjin Jinhu&#146;s obligations to Video Tianjin under their business agreements. The loans are interest free and are repayable on demand, but the shareholders can only repay the loans by transferring to Video Tianjin their equity interests in Tianjin Jinhu. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Equity interest purchase right agreements</i> between Video Tianjin, Tianjin Jinhu and the shareholders of Tianjin Jinhu. Pursuant to these agreements, Video Tianjin and any third party designated by it have the right, exercisable at any time when it becomes legal to do so under PRC law, to purchase from the shareholders of Tianjin Jinhu all or any part of their equity interests at the lowest purchase price permissible under PRC law. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Business operation agreement </i>among Video Tianjin, Tianjin Jinhu and the shareholders of Tianjin Jinhu. The agreement sets forth the right of Video Tianjin to control the actions of the shareholders of Tianjin Jinhu. The agreement has a term of 10 years, renewable at the request of Video Tianjin. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Powers of Attorney</i> executed by the shareholders of Tianjin Jinhu in favor of Video Tianjin with a term of 10 years, extendable at the request of Video Tianjin. These powers of attorney give Video Tianjin the right to appoint nominees to act on behalf of each of the Tianjin Jinhu shareholders in connection with all actions to be taken by Tianjin Jinhu. </p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Loan agreements and equity pledge agreements</i> between AmazGame and the sole shareholder of Gamease and between Gamespace and the sole shareholder of Guanyou Gamespace. The loan agreements provide for loans to the respective shareholders of Gamease and Guanyou Gamespace for the shareholders to make contributions to the registered capital of Gamease and Guanyou Gamespace in exchange for 100% of the equity interests in Gamease and Guanyou Gamespace. The loans are interest free and are repayable on demand, but the shareholders can only repay the loans by transferring to AmazGame and Gamespace, as the case may be, their equity interests in Gamease and Guanyou Gamespace. Under the equity pledge agreements, the respective shareholders of Gamease and Guanyou Gamespace pledge to AmazGame and Gamespace, their equity interests in Gamease and Guanyou Gamespace to secure the performance of their obligations under the loan agreements and Gamease&#146;s and Guanyou Gamespace&#146;s obligations to AmazGame and Gamespace under the various VIE-related agreements. If the shareholders breach their obligations under any VIE-related agreements (Gamease&#146;s or Guanyou Gamespace&#146;s breach of any of its obligations under the various applicable VIE-related agreements will be treated as its shareholder&#146;s breach of its obligations), including the equity pledge agreements, AmazGame and Gamespace are entitled to exercise their rights as the beneficiaries under the applicable equity pledge agreements, including all rights the respective shareholders have as shareholders of Gamease or Guanyou Gamespace. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Equity interest purchase right agreements</i> among AmazGame, Gamease and the sole shareholder of Gamease and among Gamespace, Guanyou Gamespace and the sole shareholder of Guanyou Gamespace. Pursuant to these agreements, AmazGame and Gamespace have the right, exercisable at any time if and when it is legal to do so under PRC law, to purchase from the respective shareholders of Gamease and Guanyou Gamespace all or any part of their equity interests in Gamease and Guanyou Gamespace at a purchase price equal to their initial contributions to the registered capital of Gamease and Guanyou Gamespace. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Powers of attorney</i> executed by the sole shareholder of Gamease in favor of AmazGame and by the sole shareholder of Guanyou Gamespace in favor of Gamespace, with a term of 10 years. These powers of attorney give the respective boards of directors of AmazGame and Gamespace the exclusive right to appoint nominees to act on behalf of their respective shareholders in connection with all actions to be taken by Gamease and Guanyou Gamespace. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Business operation agreements</i> among AmazGame, Gamease and the sole shareholder of Gamease and among Gamespace, Guanyou Gamespace and the sole shareholder of Guanyou Gamespace. These agreements set forth the right of AmazGame and Gamespace to control the actions of Gamease and Guanyou Gamespace, as the case may be, and the respective shareholders of Gamease and Guanyou Gamespace. Each agreement has a term of 10 years. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Share pledge agreement </i>among Baina Zhiyuan (Beijing) Technology Co., Ltd. (&#147;Beijing Baina Technology&#148;), Wuhan Baina Information and the shareholders of Wuhan Baina Information, which are Gamease and Yongzhi Yang, pursuant to which the shareholders pledged to Beijing Baina Technology their equity interests in Wuhan Baina Information to secure the performance of their obligations and Wuhan Baina Information&#146;s obligations under the various VIE-related agreements. If the shareholders breach their obligations under any VIE-related agreements (Wuhan Baina Information&#146;s breach of any of its obligations under the various VIE-related agreements will be treated as the shareholders&#146; breach of their obligations), including the share pledge agreement, Beijing Baina Technology is entitled to exercise its rights as the beneficiary under the share pledge agreement, including all rights of the shareholders as shareholders of Wuhan Baina Information. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Call option agreement </i>among Beijing Baina Technology, Wuhan Baina Information, Changyou Star and Yongzhi Yang. This agreement provides to Beijing Baina Technology and any third party designated by Beijing Baina Technology the right, exercisable at any time during the term of the agreement, if and when it is legal to do so under PRC law, to purchase from Changyou Star and Yongzhi Yang all or any part of their shares in Wuhan Baina Information or to purchase from Wuhan Baina Information all or part of its assets or business at the lower of RMB1.00 (approximately $0.15) or the lowest purchase price permissible under PRC law. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Business Operation Agreement</i> among Beijing Baina Technology, Wuhan Baina Information, Changyou Star and Yongzhi Yang. This agreement grants Beijing Baina Technology effective control of Wuhan Baina Information. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Business Arrangements Between Subsidiaries and Consolidated VIEs </i></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Exclusive technology consulting and service agreement </i>between Sohu Era and Sohu Internet. Pursuant to this agreement Sohu Era has the exclusive right to provide technical consultation and other related services to Sohu Internet, in exchange for a percentage of the gross revenue of Sohu Internet. The agreement has an initial term of two years, and is renewable at the request of Sohu Era. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Business cooperation agreement</i> between Sogou Technology and Sogou Information. Pursuant to this agreement, Sogou Information provides Internet information services to Sogou Technology&#146;s customers in exchange for a fee payable to Sogou Information. The agreement has a term of 10 years, and is renewable at the request of Sogou Technology.<i> </i></p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Exclusive technology consulting and service agreement </i>between Sogou Technology and Sogou Information. Pursuant to this agreement Sogou Technology has the exclusive right to provide technical consultation and other related services to Sogou Information in exchange for a fee. The agreement has a term of 10 years and is renewable at the request of Sogou Technology. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Exclusive technology consulting and service agreement </i>between Video Tianjin and Tianjin Jinhu. Pursuant to this agreement Video Tianjin has the exclusive right to provide technical consultation and other related services to Tianjin Jinhu in exchange for a fee. The agreement has a term of 10 years and is renewable at the request of Video Tianjin. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Technology support and utilization agreements</i> between AmazGame and Gamease and between Gamespace and Guanyou Gamespace. Pursuant to these agreements, AmazGame and Gamespace have the exclusive right to provide certain product development and application services and technology support to Gamease and Guanyou Gamespace, respectively, for a fee equal to a predetermined percentage, subject to adjustment by AmazGame or Gamespace at any time, of Gamease&#146;s and Guanyou Gamespace&#146;s respective revenues. Each agreement terminates only when AmazGame or Gamespace is dissolved. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Services and maintenance agreements </i>between AmazGame and Gamease between Gamespace and Guanyou Gamespace. Pursuant to these agreements, AmazGame and Gamespace, respectively, provide marketing, staffing, business operation and maintenance services to Gamease and Guanyou Gamespace, respectively, in exchange for a fee equal to the cost of providing such services plus a predetermined margin. Each agreement terminates only when AmazGame or Gamespace, as the case may be, is dissolved. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><i>Exclusive Services agreement </i>between Beijing Baina Technology and Wuhan Baina Information. Beijing Baina Technology agrees to provide Wuhan Baina Information with technical services, business consulting, capital equipment lease, market consulting, integration of systems, research and development of products and maintenance of systems. Service fees are to be determined with reference to the specific services provided, based on a transfer pricing analysis. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain of the contractual arrangements described above between the VIEs and the related wholly-owned subsidiaries of the Sohu Group are silent regarding renewals. However, because the VIEs are controlled by the Sohu Group through powers of attorney granted to the Sohu Group by the shareholders of the VIEs, the contractual arrangements can be, and are expected to be, renewed at the subsidiaries&#146; election. </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><b><i>VIE-Related Risks </i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">It is possible that the Sohu Group&#146;s operation of certain of its operations and businesses through VIEs could be found by PRC authorities to be in violation of PRC law and regulations prohibiting or restricting foreign ownership of companies that engage in such operations and businesses. While the Sohu Group&#146;s management considers the possibility of such a finding by PRC regulatory authorities under current law and regulations to be remote, on January&nbsp;19, 2015, the Ministry of Commerce of the PRC, or (the &#147;MOFCOM&#148;) released on its Website for public comment a proposed PRC law (the &#147;Draft FIE Law&#148;) that appears to include VIEs within the scope of entities that could be considered to be foreign invested enterprises (or &#147;FIEs&#148;) that would be subject to restrictions under existing PRC law on foreign investment in certain categories of industry. Specifically, the Draft FIE Law introduces the concept of &#147;actual control&#148; for determining whether an entity is considered to be an FIE. In addition to control through direct or indirect ownership or equity, the Draft FIE Law includes control through contractual arrangements within the definition of &#147;actual control.&#148; If the Draft FIE Law is passed by the People&#146;s Congress of the PRC and goes into effect in its current form, these provisions regarding control through contractual arrangements could be construed to reach the Sohu Group&#146;s VIE arrangements, and as a result the Sohu Group&#146;s VIEs could become explicitly subject to the current restrictions on foreign investment in certain categories of industry. The Draft FIE Law includes provisions that would exempt from the definition of foreign invested enterprises entities where the ultimate controlling shareholders are either entities organized under PRC law or individuals who are PRC citizens. The Draft FIE Law is silent as to what type of enforcement action might be taken against existing VIEs that operate in restricted or prohibited industries and are not controlled by entities organized under PRC law or individuals who are PRC citizens. If a finding were made by PRC authorities, under existing law and regulations or under the Draft FIE Law if it becomes effective, that the Sohu Group&#146;s operation of certain of its operations and businesses through VIEs is prohibited, regulatory authorities with jurisdiction over the licensing and operation of such operations and businesses would have broad discretion in dealing with such a violation, including levying fines, confiscating the Sohu Group&#146;s income, revoking the business or operating licenses of the affected businesses, requiring the Sohu Group to restructure its ownership structure or operations, or requiring the Sohu Group to discontinue all or any portion of its operations. Any of these actions could cause significant disruption to the Sohu Group&#146;s business operations, and have a severe adverse impact on the Sohu Group&#146;s cash flows, financial position and operating performance. </p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px">&nbsp;</p> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, it is possible that the contracts among the Sohu Group, the Sohu Group&#146;s VIEs and shareholders of its VIEs would not be enforceable in China if PRC government authorities or courts were to find that such contracts contravene PRC law and regulations or are otherwise not enforceable for public policy reasons. In the event that the Sohu Group was unable to enforce these contractual arrangements, the Sohu Group would not be able to exert effective control over the affected VIEs. Consequently, such VIE&#146;s results of operations, assets and liabilities would not be included in the Sohu Group&#146;s consolidated financial statements. If such were the case, the Sohu Group&#146;s cash flows, financial position and operating performance would be severely adversely affected. The Sohu Group&#146;s contractual arrangements with respect to its consolidated VIEs are in place. The Sohu Group&#146;s management believes that such contracts are enforceable, and considers the possibility remote that PRC regulatory authorities with jurisdiction over the Sohu Group&#146;s operations and contractual relationships would find the contracts to be unenforceable. </p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Sohu Group&#146;s operations and businesses rely on the operations and businesses of its VIEs, which hold certain recognized and unrecognized revenue-producing assets. The recognized revenue-producing assets include goodwill and intangible assets acquired through business acquisitions. Goodwill primarily represents the expected synergies from combining an acquired business with the Sohu Group. Intangible assets acquired through business acquisitions mainly consist of customer relationships, non-compete agreements, user bases, copyrights, trademarks and developed technologies. Unrecognized revenue-producing assets mainly consist of licenses and intellectual property. Licenses include operations licenses, such as Internet information service licenses and licenses for providing content. Intellectual property developed by the Sohu Group mainly consists of patents, copyrights, trademarks, and domain names. The Sohu Group&#146;s operations and businesses may be adversely impacted if the Sohu Group loses the ability to use and enjoy assets held by these VIEs. </p> 0 0 0 0 0.06 15100000 9100000 -5900000 0.07 0.06 700000 0.06 The elimination mainly consists of revenues and expenses generated from marketing services among the Sohu, Sogou and Changyou segments. "SBC" stands for share-based compensation expense. The elimination mainly consists of leasing income and expenses generated from a building that Sohu leases to Sogou. In the second quarter of 2016, the Sohu Group recognized a one-time expense of $27.8 million that was related to a donation by Sogou to Tsinghua University related to setting up a joint research institute focusing on artificial intelligence, or AI, technology. The elimination represents interest income/ (expense) resulting from intra-Group loans between the Sohu segment and the Changyou segment. The elimination for segment assets mainly consists of elimination of intra-Group loans between the Sohu segment and the Changyou segment, and elimination of long-term investments in subsidiaries and consolidated VIEs. The negative amount represented re-measured compensation expense based on the then-current fair value of the awards on the reporting date, as well as reversals of share-based compensation expense for awards that were forfeited due to termination of employment prior to vesting. The differences for the three and six months ended June 30, 2017 compared to the corresponding periods of 2016 were mainly due to differences in the fair values of certain awards as of the respective reporting dates, as well as reversals of share-based compensation expense for awards that were forfeited due to termination of employment prior to vesting. Compensation expense for Sogou share-based awards also includes compensation expense for Tencent restricted share units that Tencent had granted to employees who transferred to Sogou with the Soso search and search-related businesses and compensation expense of $4.0 million, recognized in the first quarter of 2017 in connection with Sogou's repurchase of Sogou Class A Ordinary Shares from the former President and Chief Financial Officer of the Sohu Group, which is equal to the excess of the repurchase price over the fair value of the Sogou Class A Ordinary Shares as of the repurchase date. Represents goodwill associated with the reclassification of assets held for sale to assets held for use in connection with MoboTap. See Note 6 - Fair Value Measurements. The aggregated intrinsic value in the preceding table represents the difference between Changyou's closing price of $38.76 per ADS, or $19.38 per Class A ordinary share, on June 30, 2017 and the nominal exercise price of share option. The aggregated intrinsic value in the preceding table represents the difference between Sohu's closing stock price of $45.06 on June 30, 2017 and the nominal exercise prices of the stock options.