GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION (Tables)

6 Months Ended

Jun. 30, 2014

Guarantor and Nonguarantor Financial Statements [Abstract]

Schedule of condensed balance sheet

Balance sheet at June 30, 2014:

	IAC		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Total Eliminations			IAC Consolidated
	(In thousands)
Cash and cash equivalents	$	732,792	$	—	$	254,534	$	—		$	987,326
Marketable securities	78,581		—		3,030		—			81,611
Accounts receivable, net	10		142,486		80,940		—			223,436
Other current assets	40,425		88,193		60,904		(4,463		)	185,059
Intercompany receivables	—		620,647		888,364		(1,509,011		)	—
Property and equipment, net	6,229		219,466		65,594		—			291,289
Goodwill	—		1,212,699		507,951		—			1,720,650
Intangible assets, net	—		308,170		162,191		—			470,361
Investment in subsidiaries	3,904,440		822,242		—		(4,726,682		)	—
Other non-current assets	70,343		26,184		119,709		(8,490		)	207,746
Total assets	$	4,832,820	$	3,440,087	$	2,143,217	$	(6,248,646	)	$	4,167,478
Accounts payable, trade	$	3,712	$	23,852	$	31,005	$	—		$	58,569
Other current liabilities	32,195		292,415		204,551		—			529,161
Long-term debt	1,000,000		80,000		—		—			1,080,000
Income taxes payable	386,753		7,785		25,870		—			420,408
Intercompany liabilities	1,509,011		—		—		(1,509,011		)	—
Other long-term liabilities	228,221		98,506		66,602		(12,953		)	380,376
Redeemable noncontrolling interests	—		—		24,137		—			24,137
IAC shareholders' equity	1,672,928		2,937,529		1,789,153		(4,726,682		)	1,672,928
Noncontrolling interests	—		—		1,899		—			1,899
Total liabilities and shareholders' equity	$	4,832,820	$	3,440,087	$	2,143,217	$	(6,248,646	)	$	4,167,478

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		135,651		71,719		—			207,408
Other current assets	45,111		76,572		40,661		(814		)	161,530
Intercompany receivables	—		569,030		847,423		(1,416,453		)	—
Property and equipment, net	5,316		221,386		67,262		—			293,964
Goodwill	—		1,180,159		495,164		—			1,675,323
Intangible assets, net	—		302,082		143,254		—			445,336
Investment in subsidiaries	3,833,751		782,840		—		(4,616,591		)	—
Other non-current assets	83,207		15,521		252,576		(6,629		)	344,675
Total assets	$	4,750,452	$	3,283,241	$	2,241,478	$	(6,040,487	)	$	4,234,684
Accounts payable, trade	$	4,310	$	51,525	$	21,818	$	—		$	77,653
Other current liabilities	41,623		280,549		187,072		—			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		96,239		72,941		(7,443		)	379,141
Redeemable noncontrolling interests	—		—		42,861		—			42,861
IAC shareholders' equity	1,686,736		2,768,160		1,848,431		(4,616,591		)	1,686,736
Noncontrolling interests	—		—		42,665		—			42,665
Total liabilities and shareholders' equity	$	4,750,452	$	3,283,241	$	2,241,478	$	(6,040,487	)	$	4,234,684

Schedule of condensed income statement

Statement of operations for the three months ended June 30, 2014:

	IAC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Eliminations			IAC Consolidated
	(In thousands)
Revenue	$	—		$	556,162		$	203,497		$	(3,344	)	$	756,315
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	383			124,935			86,469			(687		)	211,100
Selling and marketing expense	619			219,959			54,647			(2,439		)	272,786
General and administrative expense	26,609			49,415			33,682			13			109,719
Product development expense	1,705			26,769			10,114			(231		)	38,357
Depreciation	312			9,224			5,721			—			15,257
Amortization of intangibles	—			9,659			3,747			—			13,406
Total operating costs and expenses	29,628			439,961			194,380			(3,344		)	660,625
Operating (loss) income	(29,628		)	116,201			9,117			—			95,690
Equity in earnings (losses) of unconsolidated affiliates	5,112			1,535			64			(13,561		)	(6,850		)
Interest expense	(12,985		)	(1,052		)	(9		)	—			(14,046		)
Other income (expense), net	9,689			(10,072		)	(62,517		)	—			(62,900		)
(Loss) earnings from continuing operations before income taxes	(27,812		)	106,612			(53,345		)	(13,561		)	11,894
Income tax benefit (provision)	10,684			(39,785		)	(788		)	—			(29,889		)
(Loss) earnings from continuing operations	(17,128		)	66,827			(54,133		)	(13,561		)	(17,995		)
Loss from discontinued operations, net of tax	(868		)	—			(27		)	27			(868		)
Net (loss) earnings	(17,996		)	66,827			(54,160		)	(13,534		)	(18,863		)
Net (earnings) loss attributable to noncontrolling interests	—			(9		)	876			—			867
Net (loss) earnings attributable to IAC shareholders	$	(17,996	)	$	66,818		$	(53,284	)	$	(13,534	)	$	(17,996	)
Comprehensive (loss) income attributable to IAC shareholders	$	(20,205	)	$	66,154		$	(55,870	)	$	(10,284	)	$	(20,205	)

Statement of operations for the three months ended June 30, 2013:

	IAC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Eliminations			IAC Consolidated
	(In thousands)
Revenue	$	—		$	576,605		$	223,965		$	(1,159	)	$	799,411
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	549			161,166			112,107			(1,000		)	272,822
Selling and marketing expense	710			201,025			45,570			(152		)	247,153
General and administrative expense	23,582			46,993			32,947			(7		)	103,515
Product development expense	867			24,779			8,406			—			34,052
Depreciation	344			12,142			4,550			—			17,036
Amortization of intangibles	—			12,399			5,738			—			18,137
Total operating costs and expenses	26,052			458,504			209,318			(1,159		)	692,715
Operating (loss) income	(26,052		)	118,101			14,647			—			106,696
Equity in earnings (losses) of unconsolidated affiliates	75,927			7,728			(131		)	(84,602		)	(1,078		)
Interest expense	(6,515		)	(1,078		)	(65		)	—			(7,658		)
Other income (expense), net	3,109			(9,331		)	6,218			—			(4		)
Earnings from continuing operations before income taxes	46,469			115,420			20,669			(84,602		)	97,956
Income tax benefit (provision)	12,889			(41,863		)	(10,442		)	—			(39,416		)
Earnings from continuing operations	59,358			73,557			10,227			(84,602		)	58,540
(Loss) earnings from discontinued operations, net of tax	(1,068		)	—			4			(4		)	(1,068		)
Net earnings	58,290			73,557			10,231			(84,606		)	57,472
Net loss attributable to noncontrolling interests	—			404			414			—			818
Net earnings attributable to IAC shareholders	$	58,290		$	73,961		$	10,645		$	(84,606	)	$	58,290
Comprehensive income attributable to IAC shareholders	$	70,199		$	73,897		$	5,147		$	(79,044	)	$	70,199

Statement of operations for the six months ended June 30, 2014:

	IAC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Eliminations			IAC Consolidated
	(In thousands)
Revenue	$	—		$	1,102,488		$	400,404		$	(6,330	)	$	1,496,562
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	355			253,096			168,490			(1,647		)	420,294
Selling and marketing expense	811			456,049			118,775			(4,137		)	571,498
General and administrative expense	49,055			96,131			59,323			26			204,535
Product development expense	3,176			54,215			20,554			(572		)	77,373
Depreciation	641			18,784			10,650			—			30,075
Amortization of intangibles	—			18,660			6,725			—			25,385
Total operating costs and expenses	54,038			896,935			384,517			(6,330		)	1,329,160
Operating (loss) income	(54,038		)	205,553			15,887			—			167,402
Equity in earnings (losses) of unconsolidated affiliates	59,394			(114		)	37			(68,102		)	(8,785		)
Interest expense	(25,970		)	(2,094		)	(46		)	—			(28,110		)
Other income (expense), net	19,388			(18,706		)	(63,605		)	—			(62,923		)
(Loss) earnings from continuing operations before income taxes	(1,226		)	184,639			(47,727		)	(68,102		)	67,584
Income tax benefit (provision)	20,797			(69,730		)	(2,341		)	—			(51,274		)
Earnings (loss) from continuing operations	19,571			114,909			(50,068		)	(68,102		)	16,310
Loss from discontinued operations, net of tax	(1,682		)	—			(40		)	40			(1,682		)
Net earnings (loss)	17,889			114,909			(50,108		)	(68,062		)	14,628
Net loss attributable to noncontrolling interests	—			—			3,261			—			3,261
Net earnings (loss) attributable to IAC shareholders	$	17,889		$	114,909		$	(46,847	)	$	(68,062	)	$	17,889
Comprehensive income (loss) attributable to IAC shareholders	$	21,029		$	114,629		$	(45,764	)	$	(68,865	)	$	21,029

Statement of operations for the six months ended June 30, 2013:

	IAC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Eliminations			IAC Consolidated
	(In thousands)
Revenue	$	—		$	1,113,443		$	430,413		$	(2,196	)	$	1,541,660
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	1,226			319,041			210,183			(1,779		)	528,671
Selling and marketing expense	1,141			386,941			102,394			(409		)	490,067
General and administrative expense	45,827			89,849			63,571			(8		)	199,239
Product development expense	1,766			48,787			18,616			—			69,169
Depreciation	711			21,535			8,806			—			31,052
Amortization of intangibles	—			21,449			10,766			—			32,215
Total operating costs and expenses	50,671			887,602			414,336			(2,196		)	1,350,413
Operating (loss) income	(50,671		)	225,841			16,077			—			191,247
Equity in earnings (losses) of unconsolidated affiliates	190,477			10,123			(223		)	(201,546		)	(1,169		)
Interest expense	(13,072		)	(2,143		)	(106		)	—			(15,321		)
Other (expense) income, net	(52,339		)	(27,518		)	81,511			—			1,654
Earnings from continuing operations before income taxes	74,395			206,303			97,259			(201,546		)	176,411
Income tax benefit (provision)	39,544			(74,511		)	(30,195		)	—			(65,162		)
Earnings from continuing operations	113,939			131,792			67,064			(201,546		)	111,249
(Loss) earnings from discontinued operations, net of tax	(2,012		)	—			11			(11		)	(2,012		)
Net earnings	111,927			131,792			67,075			(201,557		)	109,237
Net loss attributable to noncontrolling interests	—			412			2,278			—			2,690
Net earnings attributable to IAC shareholders	$	111,927		$	132,204		$	69,353		$	(201,557	)	$	111,927
Comprehensive income attributable to IAC shareholders	$	111,909		$	132,066		$	47,763		$	(179,829	)	$	111,909

Schedule of condensed cash flow statement

Statement of cash flows for the six months ended June 30, 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	$	(38,576	)	$	193,388		$	(6,041	)	$	—	$	148,771
Cash flows from investing activities attributable to continuing operations:
Acquisitions, net of cash acquired	—			(88,462		)	(15,175		)	—		(103,637		)
Capital expenditures	(2,390		)	(16,477		)	(7,690		)	—		(26,557		)
Proceeds from maturities and sales of marketable debt securities	998			—			—			—		998
Purchases of marketable debt securities	(78,380		)	—			—			—		(78,380		)
Proceeds from sales of long-term investments	—			—			2,803			—		2,803
Purchases of long-term investments	(3,000		)	(6,761		)	(4,940		)	—		(14,701		)
Other, net	—			11			(627		)	—		(616		)
Net cash used in investing activities attributable to continuing operations	(82,772		)	(111,689		)	(25,629		)	—		(220,090		)
Cash flows from financing activities attributable to continuing operations:
Dividends	(40,086		)	—			—			—		(40,086		)
Issuance of common stock, net of withholding taxes	(13,823		)	—			—			—		(13,823		)
Excess tax benefits from stock-based awards	22,116			—			10,773			—		32,889
Purchase of noncontrolling interest	—			(30,000		)	—			—		(30,000		)
Funds returned from escrow for Meetic tender offer	—			—			12,354			—		12,354
Acquisition-related contingent consideration payment	—			—			(7,373		)	—		(7,373		)
Intercompany	104,410			(51,723		)	(52,687		)	—		—
Other, net	(383		)	—			242			—		(141		)
Net cash provided by (used in) financing activities attributable to continuing operations	72,234			(81,723		)	(36,691		)	—		(46,180		)
Total cash used in continuing operations	(49,114		)	(24		)	(68,361		)	—		(117,499		)
Total cash used in discontinued operations	(116		)	—			(41		)	—		(157		)
Effect of exchange rate changes on cash and cash equivalents	—			24			4,514			—		4,538
Net decrease in cash and cash equivalents	(49,230		)	—			(63,888		)	—		(113,118		)
Cash and cash equivalents at beginning of period	782,022			—			318,422			—		1,100,444
Cash and cash equivalents at end of period	$	732,792		$	—		$	254,534		$	—	$	987,326

Statement of cash flows for the six months ended June 30, 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	$	(32,997	)	$	260,013		$	1,247		$	—	$	228,263
Cash flows from investing activities attributable to continuing operations:
Acquisitions, net of cash acquired	—			(6,572		)	(30,341		)	—		(36,913		)
Capital expenditures	(719		)	(39,071		)	(8,029		)	—		(47,819		)
Proceeds from maturities and sales of marketable debt securities	12,502			—			—			—		12,502
Proceeds from sales of long-term investments	—			—			310			—		310
Purchases of long-term investments	(17,362		)	—			(7,897		)	—		(25,259		)
Other, net	(55		)	38			(1,426		)	—		(1,443		)
Net cash used in investing activities attributable to continuing operations	(5,634		)	(45,605		)	(47,383		)	—		(98,622		)
Cash flows from financing activities attributable to continuing operations:
Principal payments on long-term debt	(15,844		)	—			—			—		(15,844		)
Purchase of treasury stock	(162,660		)	—			—			—		(162,660		)
Dividends	(38,880		)	—			—			—		(38,880		)
Issuance of common stock, net of withholding taxes	(868		)	—			—			—		(868		)
Excess tax benefits from stock-based awards	23,547			—			—			—		23,547
Intercompany	144,320			(213,207		)	68,887			—		—
Other, net	(927		)	(1,224		)	(1,483		)	—		(3,634		)
Net cash (used in) provided by financing activities attributable to continuing operations	(51,312		)	(214,431		)	67,404			—		(198,339		)
Total cash (used in) provided by continuing operations	(89,943		)	(23		)	21,268			—		(68,698		)
Total cash provided by discontinued operations	2,335			—			—			—		2,335
Effect of exchange rate changes on cash and cash equivalents	—			23			(4,912		)	—		(4,889		)
Net (decrease) increase in cash and cash equivalents	(87,608		)	—			16,356			—		(71,252		)
Cash and cash equivalents at beginning of period	501,075			—			248,902			—		749,977
Cash and cash equivalents at end of period	$	413,467		$	—		$	265,258		$	—	$	678,725