XML 29 R18.htm IDEA: XBRL DOCUMENT v3.22.2.2
RELATED PARTY TRANSACTIONS WITH IAC
9 Months Ended
Sep. 30, 2022
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS WITH IAC RELATED PARTY TRANSACTIONS WITH IACAngi and IAC have entered into certain agreements to govern their relationship. These agreements include: a contribution agreement; an investor rights agreement; a services agreement; a tax sharing agreement; and an employee matters agreement. For the three and nine months ended September 30, 2022 and 2021, the Company was charged $0.8 million and $2.1 million, and $0.9 million and $3.2 million, respectively, by IAC for services rendered pursuant to the services agreement. There were no outstanding receivables or payables pursuant to the services agreement at September 30, 2022 and December 31, 2021.Additionally, the Company subleases office space to IAC and charged IAC $0.4 million and $1.2 million of rent for both three and nine months ended September 30, 2022 and 2021. IAC subleases office space to the Company and charged the Company $0.4 million and $1.0 million of rent for the three and nine months ended September 30, 2022. At September 30, 2022 and December 31, 2021, there were no outstanding receivables or payables pursuant to the sublease agreements.At September 30, 2022 and December 31, 2021, the Company had outstanding payables of $1.4 million and $0.3 million, respectively, due to IAC pursuant to the tax sharing agreement, which are included in “Accrued expenses and other current liabilities,” in the accompanying consolidated balance sheet. There were no payments to or refunds from IAC pursuant to this agreement during the three and nine months ended September 30, 2022 and 2021.For the three and nine months ended September 30, 2022, no shares of Angi Inc. Class B common stock were issued to IAC pursuant to the employee matters agreement as reimbursement for shares of IAC common stock issued in connection with the exercise and vesting of IAC equity awards held by Angi Inc. employees. For the three and nine months ended September 30, 2021, less than 0.1 million and 0.2 million shares, respectively, of Angi Inc. Class B common stock were issued to IAC pursuant to the employee matters agreement. For the three and nine months ended September 30, 2022, no shares of Angi Inc. Class A common stock were issued to IAC pursuant to the employee matters agreement as reimbursement for IAC common stock issued in connection with the exercise and settlement of certain Angi Inc. stock appreciation rights. For the three and nine months ended September 30, 2021, less than 0.1 million and 2.6 million shares, respectively, of Angi Inc. Class A common stock were issued to IAC pursuant to the employee matters agreement.