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GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION (Tables)
3 Months Ended
Mar. 31, 2014
Guarantor and Nonguarantor Financial Statements [Abstract]  
Schedule of condensed balance sheet
Balance sheet at March 31, 2014:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Total Eliminations
 
IAC Consolidated
 
(In thousands)
Cash and cash equivalents
$
670,607

 
$

 
$
332,704

 
$

 
$
1,003,311

Marketable securities
33,961

 

 
5,582

 

 
39,543

Accounts receivable, net
30

 
148,753

 
92,234

 

 
241,017

Other current assets
63,187

 
75,085

 
49,977

 
(1,044
)
 
187,205

Intercompany receivables

 
524,844

 
830,023

 
(1,354,867
)
 

Property and equipment, net
5,108

 
218,643

 
67,360

 

 
291,111

Goodwill

 
1,185,760

 
529,841

 

 
1,715,601

Intangible assets, net

 
293,311

 
178,926

 

 
472,237

Investment in subsidiaries
3,857,408

 
825,826

 

 
(4,683,234
)
 

Other non-current assets
85,073

 
19,132

 
175,914

 
(6,088
)
 
274,031

Total assets
$
4,715,374

 
$
3,291,354

 
$
2,262,561

 
$
(6,045,233
)
 
$
4,224,056

 
 
 
 
 
 
 
 
 
 
Accounts payable, trade
$
5,023

 
$
33,202

 
$
29,291

 
$

 
$
67,516

Other current liabilities
40,684

 
269,022

 
223,421

 

 
533,127

Long-term debt
1,000,000

 
80,000

 

 

 
1,080,000

Income taxes payable
386,168

 
7,785

 
26,303

 

 
420,256

Intercompany liabilities
1,354,867

 

 

 
(1,354,867
)
 

Other long-term liabilities
219,138

 
94,941

 
79,101

 
(7,132
)
 
386,048

Redeemable noncontrolling interests

 

 
25,885

 

 
25,885

IAC shareholders' equity
1,709,494

 
2,806,404

 
1,876,830

 
(4,683,234
)
 
1,709,494

Noncontrolling interests

 

 
1,730

 

 
1,730

Total liabilities and shareholders' equity
$
4,715,374

 
$
3,291,354

 
$
2,262,561

 
$
(6,045,233
)
 
$
4,224,056


Balance sheet at December 31, 2013:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Total Eliminations
 
IAC Consolidated
 
(In thousands)
Cash and cash equivalents
$
782,022

 
$

 
$
318,422

 
$

 
$
1,100,444

Marketable securities
1,007

 

 
4,997

 

 
6,004

Accounts receivable, net
38

 
134,307

 
73,063

 

 
207,408

Other current assets
45,111

 
73,487

 
43,746

 
(814
)
 
161,530

Intercompany receivables

 
564,999

 
851,454

 
(1,416,453
)
 

Property and equipment, net
5,316

 
220,756

 
67,892

 

 
293,964

Goodwill

 
1,180,159

 
495,164

 

 
1,675,323

Intangible assets, net

 
301,513

 
143,823

 

 
445,336

Investment in subsidiaries
3,833,751

 
782,840

 

 
(4,616,591
)
 

Other non-current assets
83,207

 
15,485

 
252,612

 
(6,629
)
 
344,675

Total assets
$
4,750,452

 
$
3,273,546

 
$
2,251,173

 
$
(6,040,487
)
 
$
4,234,684

 
 
 
 
 
 
 
 
 
 
Accounts payable, trade
$
4,310

 
$
51,302

 
$
22,041

 
$

 
$
77,653

Other current liabilities
41,623

 
254,882

 
212,739

 

 
509,244

Long-term debt
1,000,000

 
80,000

 

 

 
1,080,000

Income taxes payable
383,926

 
6,768

 
25,690

 

 
416,384

Intercompany liabilities
1,416,453

 

 

 
(1,416,453
)
 

Other long-term liabilities
217,404

 
96,091

 
73,089

 
(7,443
)
 
379,141

Redeemable noncontrolling interests

 

 
42,861

 

 
42,861

IAC shareholders' equity
1,686,736

 
2,784,503

 
1,832,088

 
(4,616,591
)
 
1,686,736

Noncontrolling interests

 

 
42,665

 

 
42,665

Total liabilities and shareholders' equity
$
4,750,452

 
$
3,273,546

 
$
2,251,173

 
$
(6,040,487
)
 
$
4,234,684


Schedule of condensed income statement
Statement of operations for the three months ended March 31, 2014:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Total Eliminations
 
IAC Consolidated
 
(In thousands)
Revenue
$

 
$
518,264

 
$
223,587

 
$
(1,604
)
 
$
740,247

Operating costs and expenses:
 
 
 
 
 
 
 
 
 
Cost of revenue (exclusive of depreciation shown separately below)
(28
)
 
116,751

 
93,431

 
(960
)
 
209,194

Selling and marketing expense
192

 
226,801

 
72,035

 
(316
)
 
298,712

General and administrative expense
22,446

 
40,991

 
31,366

 
13

 
94,816

Product development expense
1,471

 
25,969

 
11,917

 
(341
)
 
39,016

Depreciation
329

 
9,293

 
5,196

 

 
14,818

Amortization of intangibles

 
8,277

 
3,702

 

 
11,979

Total operating costs and expenses
24,410

 
428,082

 
217,647

 
(1,604
)
 
668,535

Operating (loss) income
(24,410
)
 
90,182

 
5,940

 

 
71,712

Equity in earnings (losses) of unconsolidated affiliates
54,259

 
8,422

 
(27
)
 
(64,589
)
 
(1,935
)
Interest expense
(12,985
)
 
(1,042
)
 
(37
)
 

 
(14,064
)
Other income (expense), net
9,699

 
(8,751
)
 
(971
)
 

 
(23
)
Earnings from continuing operations before income taxes
26,563

 
88,811

 
4,905

 
(64,589
)
 
55,690

Income tax benefit (provision)
10,136

 
(30,161
)
 
(1,360
)
 

 
(21,385
)
Earnings from continuing operations
36,699

 
58,650

 
3,545

 
(64,589
)
 
34,305

Loss from discontinued operations, net of tax
(814
)
 

 
(13
)
 
13

 
(814
)
Net earnings
35,885

 
58,650

 
3,532

 
(64,576
)
 
33,491

Net loss attributable to noncontrolling interests

 

 
2,394

 

 
2,394

Net earnings attributable to IAC shareholders
$
35,885

 
$
58,650

 
$
5,926

 
$
(64,576
)
 
$
35,885

Comprehensive income attributable to IAC shareholders
$
41,234

 
$
59,032

 
$
9,622

 
$
(68,654
)
 
$
41,234


Statement of operations for the three months ended March 31, 2013:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Total Eliminations
 
IAC Consolidated
 
(In thousands)
Revenue
$

 
$
528,644

 
$
214,642

 
$
(1,037
)
 
$
742,249

Operating costs and expenses:
 
 
 
 
 
 
 
 
 
Cost of revenue (exclusive of depreciation shown separately below)
677

 
153,800

 
102,151

 
(779
)
 
255,849

Selling and marketing expense
431

 
182,743

 
59,997

 
(257
)
 
242,914

General and administrative expense
22,245

 
40,273

 
33,207

 
(1
)
 
95,724

Product development expense
899

 
23,042

 
11,176

 

 
35,117

Depreciation
367

 
9,249

 
4,400

 

 
14,016

Amortization of intangibles

 
8,962

 
5,116

 

 
14,078

Total operating costs and expenses
24,619

 
418,069

 
216,047

 
(1,037
)
 
657,698

Operating (loss) income
(24,619
)
 
110,575

 
(1,405
)
 

 
84,551

Equity in earnings (losses) of unconsolidated affiliates
114,550

 
2,396

 
(91
)
 
(116,946
)
 
(91
)
Interest expense
(6,557
)
 
(1,065
)
 
(41
)
 

 
(7,663
)
Other (expense) income, net
(55,448
)
 
(18,138
)
 
75,244

 

 
1,658

Earnings from continuing operations before income taxes
27,926

 
93,768

 
73,707

 
(116,946
)
 
78,455

Income tax benefit (provision)
26,655

 
(33,806
)
 
(18,595
)
 

 
(25,746
)
Earnings from continuing operations
54,581

 
59,962

 
55,112

 
(116,946
)
 
52,709

(Loss) earnings from discontinued operations, net of tax
(944
)
 

 
7

 
(7
)
 
(944
)
Net earnings
53,637

 
59,962

 
55,119

 
(116,953
)
 
51,765

Net loss attributable to noncontrolling interests

 
8

 
1,864

 

 
1,872

Net earnings attributable to IAC shareholders
$
53,637

 
$
59,970

 
$
56,983

 
$
(116,953
)
 
$
53,637

Comprehensive income attributable to IAC shareholders
$
41,710

 
$
59,895

 
$
40,890

 
$
(100,785
)
 
$
41,710

Schedule of condensed cash flow statement
Statement of cash flows for the three months ended March 31, 2014:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Total Eliminations
 
IAC Consolidated
 
(In thousands)
Net cash (used in) provided by operating activities attributable to continuing operations
$
(29,250
)
 
$
73,160

 
$
(1,206
)
 
$

 
$
42,704

Cash flows from investing activities attributable to continuing operations:
 
 
 
 
 
 
 
 
 
Acquisitions, net of cash acquired

 
(51,263
)
 
(26,718
)
 

 
(77,981
)
Capital expenditures
(985
)
 
(5,661
)
 
(3,075
)
 

 
(9,721
)
Purchases of marketable debt securities
(32,848
)
 

 

 

 
(32,848
)
Purchases of long-term investments
(3,000
)
 
(3,286
)
 
(1,575
)
 

 
(7,861
)
Other, net
2

 

 
(159
)
 

 
(157
)
Net cash used in investing activities attributable to continuing operations
(36,831
)
 
(60,210
)
 
(31,527
)
 

 
(128,568
)
Cash flows from financing activities attributable to continuing operations:
 
 
 
 
 
 
 
 
 
Dividends
(20,004
)
 

 

 

 
(20,004
)
Issuance of common stock, net of withholding taxes
920

 

 

 

 
920

Excess tax benefits from stock-based awards
15,610

 

 
8,593

 

 
24,203

Purchase of noncontrolling interests

 
(30,000
)
 

 

 
(30,000
)
Funds returned from escrow for Meetic tender offer

 

 
12,354

 

 
12,354

Intercompany
(41,436
)
 
17,051

 
24,385

 

 

Other, net
(374
)
 

 
79

 

 
(295
)
Net cash (used in) provided by financing activities attributable to continuing operations
(45,284
)
 
(12,949
)
 
45,411

 

 
(12,822
)
Total cash (used in) provided by continuing operations
(111,365
)
 
1

 
12,678

 

 
(98,686
)
Total cash used in discontinued operations
(50
)
 

 
(13
)
 

 
(63
)
Effect of exchange rate changes on cash and cash equivalents

 
(1
)
 
1,617

 

 
1,616

Net (decrease) increase in cash and cash equivalents
(111,415
)
 

 
14,282

 

 
(97,133
)
Cash and cash equivalents at beginning of period
782,022

 

 
318,422

 

 
1,100,444

Cash and cash equivalents at end of period
$
670,607

 
$

 
$
332,704

 
$

 
$
1,003,311


Statement of cash flows for the three months ended March 31, 2013:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Total Eliminations
 
IAC Consolidated
 
(In thousands)
Net cash (used in) provided by operating activities attributable to continuing operations
$
(1,106
)
 
$
106,037

 
$
(12,569
)
 
$

 
$
92,362

Cash flows from investing activities attributable to continuing operations:
 
 
 
 
 
 
 
 
 
Acquisitions, net of cash acquired

 
(6,060
)
 
(23,134
)
 

 
(29,194
)
Capital expenditures
(78
)
 
(28,920
)
 
(4,640
)
 

 
(33,638
)
Proceeds from maturities and sales of marketable debt securities
12,500

 

 

 

 
12,500

Purchases of long-term investments

 

 
(975
)
 

 
(975
)
Other, net
(55
)
 

 
(782
)
 

 
(837
)
Net cash provided by (used in) investing activities attributable to continuing operations
12,367

 
(34,980
)
 
(29,531
)
 

 
(52,144
)
Cash flows from financing activities attributable to continuing operations:
 
 
 
 
 
 
 
 
 
Principal payments on long-term debt
(15,844
)
 

 

 

 
(15,844
)
Purchase of treasury stock
(88,605
)
 

 

 

 
(88,605
)
Dividends
(21,429
)
 

 

 

 
(21,429
)
Issuance of common stock, net of withholding taxes
552

 

 

 

 
552

Excess tax benefits from stock-based awards
12,530

 

 

 

 
12,530

Intercompany
29,317

 
(71,056
)
 
41,739

 

 

Other, net
(927
)
 
(29
)
 
(145
)
 

 
(1,101
)
Net cash (used in) provided by financing activities attributable to continuing operations
(84,406
)
 
(71,085
)
 
41,594

 

 
(113,897
)
Total cash used in continuing operations
(73,145
)
 
(28
)
 
(506
)
 

 
(73,679
)
Total cash provided by (used in) discontinued operations
2,426

 

 
(1
)
 

 
2,425

Effect of exchange rate changes on cash and cash equivalents

 
28

 
(4,994
)
 

 
(4,966
)
Net decrease in cash and cash equivalents
(70,719
)
 

 
(5,501
)
 

 
(76,220
)
Cash and cash equivalents at beginning of period
501,075

 

 
248,902

 

 
749,977

Cash and cash equivalents at end of period
$
430,356

 
$

 
$
243,401

 
$

 
$
673,757