CONSOLIDATED FINANCIAL STATEMENT DETAILS

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

CONSOLIDATED FINANCIAL STATEMENT DETAILS

CONSOLIDATED FINANCIAL STATEMENT DETAILS

Cash and Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the accompanying balance sheet to the total amounts shown in the accompanying statement of cash flows:

	December 31, 2021		December 31, 2020
	(In thousands)
Cash and cash equivalents	$	428,136	$	812,705
Restricted cash included in other current assets	156		407
Restricted cash included in other non-current assets	1,193		449
Total cash and cash equivalents, and restricted cash as shown on the consolidated statement of cash flows	$	429,485	$	813,561

Restricted cash included in other current assets at December 31, 2021 primarily consisted of funds collected from service providers for disputed payments which were not settled as of the period end, in addition to cash reserved to fund insurance claims. Restricted cash included in other current assets at December 31, 2020 primarily consists of cash received from customers at Angi Inc. through the Handy platform, representing funds collected for payment to service providers, which were not settled as of the period end.

Restricted cash included in other non-current assets for all periods presented above primarily consisted of deposits related to leases. Restricted cash included in other non-current assets at December 31, 2021 also included cash held related to a check endorsement guarantee for Angi Roofing.     

	December 31,
	2021		2020
	(In thousands)
Other current assets:
Capitalized costs to obtain a contract with a customer	$	37,971	$	49,194
Prepaid expenses	24,749		17,742
Other	7,828		5,022
Other current assets	$	70,548	$	71,958

	December 31,
	2021		2020
	(In thousands)
Capitalized software, leasehold improvements and equipment, net:
Capitalized software and computer equipment	$	153,953	$	132,026
Leasehold improvements	29,605		31,864
Furniture and other equipment	11,596		13,252
Projects in progress	31,348		27,138
Capitalized software, leasehold improvements and equipment	226,502		204,280
Accumulated depreciation and amortization	(108,235)		(95,438)
Capitalized software, leasehold improvements and equipment, net	$	118,267	$	108,842

	December 31,
	2021		2020
	(In thousands)
Accrued expenses and other current liabilities:
Accrued employee compensation and benefits	$	46,464	$	47,310
Accrued advertising expense	36,231		30,033
Current lease liabilities	17,098		15,700
Other	84,022		55,176
Accrued expenses and other current liabilities	$	183,815	$	148,219

Other (expense) income, net

	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Interest income	$	239	$	1,725	$	7,974
Gain (loss) on the sale of a business(a)	31		(454)		(218)
Foreign exchange (losses) gains	(1,656)		(57)		559
Loss on extinguishment of debt(b)	(1,110)		—		—
Other	(13)		4		(1,821)
Other (expense) income, net	$	(2,509)	$	1,218	$	6,494

________________________

(a)    Loss from acquisition/sale of a business for the year ended December 31, 2020 includes a $0.2 million mark-to-market charge for an indemnification charge related to the Handy acquisition that was settled in Angi Inc. shares during the first quarter of 2020 and a $0.3 million charge related to the final earn-out settlement related to the sale of Felix.

(b)    Represents the write-off of deferred debt issuance costs related to the ANGI Group Term Loan, which was repaid in its entirety during the second quarter of 2021.

Supplemental Disclosure of Cash Flow Information:

	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Cash paid (received) during the year for:
Interest expense—third-party	$	21,450	$	5,367	$	10,290
Interest expense—related party	—		—		54
Income tax payments, including amounts paid to IAC for Angi Inc.'s share of IAC's consolidated tax liability	4,647		1,789		12,224
Income tax refunds, including amounts received from IAC for Angi Inc.’s share of IAC's consolidated tax liability	(587)		(3,506)		(957)