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GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION (Tables)
6 Months Ended
Jun. 30, 2015
Guarantor and Nonguarantor Financial Statements [Abstract]  
Schedule of condensed balance sheet
Balance sheet at June 30, 2015:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Total Eliminations
 
IAC Consolidated
 
(In thousands)
Cash and cash equivalents
$
431,731

 
$
4,121

 
$
220,557

 
$

 
$
656,409

Marketable securities
232,917

 

 
606

 

 
233,523

Accounts receivable, net
4

 
132,223

 
90,879

 

 
223,106

Other current assets
47,233

 
97,670

 
69,692

 
(4,871
)
 
209,724

Intercompany receivables

 
1,635,189

 
942,583

 
(2,577,772
)
 

Property and equipment, net
4,867

 
228,061

 
64,230

 

 
297,158

Goodwill

 
1,250,801

 
528,029

 

 
1,778,830

Intangible assets, net

 
313,275

 
158,807

 

 
472,082

Investment in subsidiaries
4,971,322

 
932,210

 

 
(5,903,532
)
 

Other non-current assets
69,644

 
20,715

 
115,405

 
(1,538
)
 
204,226

Total assets
$
5,757,718

 
$
4,614,265

 
$
2,190,788

 
$
(8,487,713
)
 
$
4,075,058

 
 
 
 
 
 
 
 
 
 
Current portion of long-term debt
$

 
$
80,000

 
$

 
$

 
$
80,000

Accounts payable, trade
3,078

 
57,265

 
19,091

 

 
79,434

Other current liabilities
32,661

 
320,261

 
203,239

 
(738
)
 
555,423

Long-term debt, net of current portion
1,000,000

 

 

 

 
1,000,000

Income taxes payable
892

 
4,829

 
19,047

 

 
24,768

Intercompany liabilities
2,577,772

 

 

 
(2,577,772
)
 

Other long-term liabilities
327,929

 
100,370

 
69,242

 
(5,671
)
 
491,870

Redeemable noncontrolling interests

 

 
28,177

 

 
28,177

IAC shareholders' equity
1,815,386

 
4,051,540

 
1,851,992

 
(5,903,532
)
 
1,815,386

Total liabilities and shareholders' equity
$
5,757,718

 
$
4,614,265

 
$
2,190,788

 
$
(8,487,713
)
 
$
4,075,058


Balance sheet at December 31, 2014:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Total Eliminations
 
IAC Consolidated
 
(In thousands)
Cash and cash equivalents
$
766,076

 
$
1,021

 
$
223,308

 
$

 
$
990,405

Marketable securities
159,197

 

 
1,451

 

 
160,648

Accounts receivable, net
13

 
155,262

 
80,811

 

 
236,086

Other current assets
23,923

 
91,105

 
57,487

 
(5,773
)
 
166,742

Intercompany receivables

 
1,688,403

 
970,810

 
(2,659,213
)
 

Property and equipment, net
4,950

 
232,819

 
64,690

 

 
302,459

Goodwill

 
1,249,807

 
505,119

 

 
1,754,926

Intangible assets, net

 
325,771

 
166,165

 

 
491,936

Investment in subsidiaries
5,035,304

 
930,443

 

 
(5,965,747
)
 

Other non-current assets
44,610

 
20,682

 
109,372

 
(2,988
)
 
171,676

Total assets
$
6,034,073

 
$
4,695,313

 
$
2,179,213

 
$
(8,633,721
)
 
$
4,274,878

 
 
 
 
 
 
 
 
 
 
Accounts payable, trade
$
3,059

 
$
55,320

 
$
22,784

 
$

 
$
81,163

Other current liabilities
73,491

 
328,920

 
191,197

 
(817
)
 
592,791

Long-term debt
1,000,000

 
80,000

 

 

 
1,080,000

Income taxes payable
2,240

 
4,771

 
25,624

 

 
32,635

Intercompany liabilities
2,659,213

 

 

 
(2,659,213
)
 

Other long-term liabilities
304,117

 
104,219

 
54,328

 
(7,944
)
 
454,720

Redeemable noncontrolling interests

 

 
40,427

 

 
40,427

IAC shareholders' equity
1,991,953

 
4,122,083

 
1,843,664

 
(5,965,747
)
 
1,991,953

Noncontrolling interests

 

 
1,189

 

 
1,189

Total liabilities and shareholders' equity
$
6,034,073

 
$
4,695,313

 
$
2,179,213

 
$
(8,633,721
)
 
$
4,274,878

Schedule of condensed income statement
Statement of operations for the three months ended June 30, 2015:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Total Eliminations
 
IAC Consolidated
 
(In thousands)
Revenue
$

 
$
586,067

 
$
188,460

 
$
(3,395
)
 
$
771,132

Operating costs and expenses:
 
 
 
 
 
 
 
 
 
Cost of revenue (exclusive of depreciation shown separately below)
294

 
117,383

 
65,792

 
(193
)
 
183,276

Selling and marketing expense
1,010

 
264,647

 
56,949

 
(3,209
)
 
319,397

General and administrative expense
33,942

 
66,336

 
29,064

 
7

 
129,349

Product development expense
2,330

 
30,996

 
13,104

 

 
46,430

Depreciation
426

 
11,110

 
3,964

 

 
15,500

Amortization of intangibles

 
6,226

 
8,185

 

 
14,411

Total operating costs and expenses
38,002

 
496,698

 
177,058

 
(3,395
)
 
708,363

Operating (loss) income
(38,002
)
 
89,369

 
11,402

 

 
62,769

Equity in earnings of unconsolidated affiliates
70,523

 
13,353

 

 
(83,876
)
 

Interest expense
(12,992
)
 
(2,211
)
 
(11
)
 

 
(15,214
)
Other (expense) income, net
(7,506
)
 
17,787

 
(11,919
)
 

 
(1,638
)
Earnings (loss) from continuing operations before income taxes
12,023

 
118,298

 
(528
)
 
(83,876
)
 
45,917

Income tax benefit (provision)
47,435

 
(40,470
)
 
5,003

 

 
11,968

Earnings from continuing operations
59,458

 
77,828

 
4,475

 
(83,876
)
 
57,885

(Loss) earnings from discontinued operations, net of tax
(153
)
 

 
3

 
(3
)
 
(153
)
Net earnings
59,305

 
77,828

 
4,478

 
(83,879
)
 
57,732

Net loss attributable to noncontrolling interests

 

 
1,573

 

 
1,573

Net earnings attributable to IAC shareholders
$
59,305

 
$
77,828

 
$
6,051

 
$
(83,879
)
 
$
59,305

Comprehensive income attributable to IAC shareholders
$
72,283

 
$
79,129

 
$
15,106

 
$
(94,235
)
 
$
72,283


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

 
126,162

 
84,872

 
(687
)
 
210,730

Selling and marketing expense
619

 
220,152

 
54,158

 
(2,439
)
 
272,490

General and administrative expense
26,609

 
48,459

 
34,816

 
13

 
109,897

Product development expense
1,705

 
26,305

 
11,066

 
(231
)
 
38,845

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 of unconsolidated affiliates
8,264

 
5,297

 

 
(13,561
)
 

Interest expense
(12,985
)
 
(1,052
)
 
(9
)
 

 
(14,046
)
Other income (expense), net
6,537

 
(13,834
)
 
(62,453
)
 

 
(69,750
)
(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 loss attributable to noncontrolling interests

 

 
867

 

 
867

Net (loss) earnings attributable to IAC shareholders
$
(17,996
)
 
$
66,827

 
$
(53,293
)
 
$
(13,534
)
 
$
(17,996
)
Comprehensive (loss) income attributable to IAC shareholders
$
(20,205
)
 
$
66,163

 
$
(55,879
)
 
$
(10,284
)
 
$
(20,205
)

Statement of operations for the six months ended June 30, 2015:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Total Eliminations
 
IAC Consolidated
 
(In thousands)
Revenue
$

 
$
1,180,868

 
$
368,820

 
$
(6,044
)
 
$
1,543,644

Operating costs and expenses:
 
 
 
 
 
 
 
 
 
Cost of revenue (exclusive of depreciation shown separately below)
539

 
237,124

 
137,556

 
(390
)
 
374,829

Selling and marketing expense
2,065

 
553,272

 
127,345

 
(5,619
)
 
677,063

General and administrative expense
58,006

 
132,089

 
54,083

 
(35
)
 
244,143

Product development expense
4,507

 
62,130

 
25,050

 

 
91,687

Depreciation
827

 
22,690

 
7,551

 

 
31,068

Amortization of intangibles

 
12,496

 
14,470

 

 
26,966

Total operating costs and expenses
65,944

 
1,019,801

 
366,055

 
(6,044
)
 
1,445,756

Operating (loss) income
(65,944
)
 
161,067

 
2,765

 

 
97,888

Equity in earnings of unconsolidated affiliates
124,647

 
17,049

 

 
(141,696
)
 

Interest expense
(25,982
)
 
(3,257
)
 
(39
)
 

 
(29,278
)
Other (expense) income, net
(16,859
)
 
29,179

 
(6,970
)
 

 
5,350

Earnings (loss) from continuing operations before income taxes
15,862

 
204,038

 
(4,244
)
 
(141,696
)
 
73,960

Income tax benefit (provision)
69,876

 
(72,266
)
 
8,178

 

 
5,788

Earnings from continuing operations
85,738

 
131,772

 
3,934

 
(141,696
)
 
79,748

(Loss) earnings from discontinued operations, net of tax
(28
)
 

 
3

 
(3
)
 
(28
)
Net earnings
85,710

 
131,772

 
3,937

 
(141,699
)
 
79,720

Net loss attributable to noncontrolling interests

 

 
5,990

 

 
5,990

Net earnings attributable to IAC shareholders
$
85,710

 
$
131,772

 
$
9,927

 
$
(141,699
)
 
$
85,710

Comprehensive income (loss) attributable to IAC shareholders
$
43,115

 
$
127,288

 
$
(37,762
)
 
$
(89,526
)
 
$
43,115

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

 
255,463

 
165,793

 
(1,647
)
 
419,964

Selling and marketing expense
811

 
456,493

 
117,922

 
(4,137
)
 
571,089

General and administrative expense
49,055

 
94,134

 
61,771

 
26

 
204,986

Product development expense
3,176

 
53,401

 
21,656

 
(572
)
 
77,661

Depreciation
641

 
18,785

 
10,649

 

 
30,075

Amortization of intangibles

 
18,660

 
6,725

 

 
25,385

Total operating costs and expenses
54,038

 
896,936

 
384,516

 
(6,330
)
 
1,329,160

Operating (loss) income
(54,038
)
 
205,552

 
15,888

 

 
167,402

Equity in earnings of unconsolidated affiliates
62,561

 
5,541

 

 
(68,102
)
 

Interest expense
(25,970
)
 
(2,094
)
 
(46
)
 

 
(28,110
)
Other income (expense), net
16,222

 
(24,361
)
 
(63,569
)
 

 
(71,708
)
(Loss) earnings from continuing operations before income taxes
(1,225
)
 
184,638

 
(47,727
)
 
(68,102
)
 
67,584

Income tax benefit (provision)
20,796

 
(69,729
)
 
(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

Schedule of condensed cash flow statement
Statement of cash flows for the six months ended June 30, 2015:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
IAC Consolidated
 
(In thousands)
Net cash (used in) provided by operating activities attributable to continuing operations
$
(124,420
)
 
$
232,853

 
$
(22,654
)
 
$
85,779

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

 
(3,675
)
 
(39,611
)
 
(43,286
)
Capital expenditures
(988
)
 
(18,242
)
 
(7,586
)
 
(26,816
)
Proceeds from maturities and sales of marketable debt securities
14,613

 

 

 
14,613

Purchases of marketable debt securities
(93,134
)
 

 

 
(93,134
)
Purchases of long-term investments

 

 
(12,840
)
 
(12,840
)
Other, net
3,613

 
(1,086
)
 
6,072

 
8,599

Net cash used in investing activities attributable to continuing operations
(75,896
)
 
(23,003
)
 
(53,965
)
 
(152,864
)
Cash flows from financing activities attributable to continuing operations:
 
 
 
 
 
 
 
Purchase of treasury stock
(200,000
)
 

 

 
(200,000
)
Dividends
(56,729
)
 

 

 
(56,729
)
Issuance of common stock, net of withholding taxes
(20,656
)
 

 

 
(20,656
)
Excess tax benefits from stock-based awards
36,334

 

 
131

 
36,465

Purchase of noncontrolling interests

 

 
(15,338
)
 
(15,338
)
Acquisition-related contingent consideration payments

 
(195
)
 
(5,510
)
 
(5,705
)
Intercompany
107,102

 
(206,557
)
 
99,455

 

Other, net
166

 

 
264

 
430

Net cash (used in) provided by financing activities attributable to continuing operations
(133,783
)
 
(206,752
)
 
79,002

 
(261,533
)
Total cash (used in) provided by continuing operations
(334,099
)
 
3,098

 
2,383

 
(328,618
)
Total cash (used in) provided by discontinued operations
(246
)
 

 
3

 
(243
)
Effect of exchange rate changes on cash and cash equivalents

 
2

 
(5,137
)
 
(5,135
)
Net (decrease) increase in cash and cash equivalents
(334,345
)
 
3,100

 
(2,751
)
 
(333,996
)
Cash and cash equivalents at beginning of period
766,076

 
1,021

 
223,308

 
990,405

Cash and cash equivalents at end of period
$
431,731

 
$
4,121

 
$
220,557

 
$
656,409


Statement of cash flows for the six months ended June 30, 2014:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
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

 
(88,205
)
 
(15,175
)
 
(103,380
)
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
)
Purchases of long-term investments
(3,000
)
 
(6,761
)
 
(4,940
)
 
(14,701
)
Other, net

 
11

 
2,176

 
2,187

Net cash used in investing activities attributable to continuing operations
(82,772
)
 
(111,432
)
 
(25,629
)
 
(219,833
)
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 interests

 
(30,000
)
 

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

 

 
12,354

 
12,354

Acquisition-related contingent consideration payments

 
(257
)
 
(7,373
)
 
(7,630
)
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

 
(81,980
)
 
(36,691
)
 
(46,437
)
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