GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION (Tables)

9 Months Ended

Sep. 30, 2015

Guarantor and Nonguarantor Financial Statements [Abstract]

Schedule of condensed balance sheet

Balance sheet at September 30, 2015:

	IAC		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Total Eliminations			IAC Consolidated
	(In thousands)
Cash and cash equivalents	$	360,009	$	—	$	406,439	$	—		$	766,448
Marketable securities	53,477		—		460		—			53,937
Accounts receivable, net	9		147,175		99,794		—			246,978
Other current assets	7,261		93,121		82,236		(3,735		)	178,883
Intercompany receivables	—		1,557,881		779,941		(2,337,822		)	—
Property and equipment, net	4,574		228,159		66,345		—			299,078
Goodwill	—		1,247,038		522,103		—			1,769,141
Intangible assets, net	—		307,079		152,842		—			459,921
Investment in subsidiaries	5,033,588		957,866		—		(5,991,454		)	—
Other non-current assets	92,132		28,897		139,963		(8,060		)	252,932
Total assets	$	5,551,050	$	4,567,216	$	2,250,123	$	(8,341,071	)	$	4,027,318
Accounts payable, trade	$	2,865	$	34,991	$	30,592	$	—		$	68,448
Other current liabilities	54,163		326,379		204,453		14			585,009
Long-term debt	1,000,000		—		—		—			1,000,000
Income taxes payable	858		4,531		18,252		—			23,641
Intercompany liabilities	2,337,822		—		—		(2,337,822		)	—
Other long-term liabilities	310,151		105,074		76,386		(11,809		)	479,802
Redeemable noncontrolling interests	—		—		25,227		—			25,227
IAC shareholders' equity	1,845,191		4,096,241		1,895,213		(5,991,454		)	1,845,191
Total liabilities and shareholders' equity	$	5,551,050	$	4,567,216	$	2,250,123	$	(8,341,071	)	$	4,027,318

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 September 30, 2015:

	IAC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Eliminations			IAC Consolidated
	(In thousands)
Revenue	$	—		$	606,269		$	235,352		$	(3,060	)	$	838,561
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	307			117,292			87,922			(260		)	205,261
Selling and marketing expense	1,250			276,036			62,741			(2,801		)	337,226
General and administrative expense	37,186			70,225			26,710			1			134,122
Product development expense	2,408			31,945			12,506			—			46,859
Depreciation	613			10,799			4,213			—			15,625
Amortization of intangibles	—			6,246			6,092			—			12,338
Total operating costs and expenses	41,764			512,543			200,184			(3,060		)	751,431
Operating (loss) income	(41,764		)	93,726			35,168			—			87,130
Equity in earnings of unconsolidated affiliates	96,076			19,940			541			(116,159		)	398
Interest expense	(12,995		)	(2,963		)	(34		)	—			(15,992		)
Other income, net	24,678			2,911			6,411			—			34,000
Earnings from continuing operations before income taxes	65,995			113,614			42,086			(116,159		)	105,536
Income tax provision	(401		)	(35,131		)	(4,978		)	—			(40,510		)
Earnings from continuing operations	65,594			78,483			37,108			(116,159		)	65,026
Earnings (loss) from discontinued operations, net of tax	17			—			(1		)	1			17
Net earnings	65,611			78,483			37,107			(116,158		)	65,043
Net loss attributable to noncontrolling interests	—			—			568			—			568
Net earnings attributable to IAC shareholders	$	65,611		$	78,483		$	37,675		$	(116,158	)	$	65,611
Comprehensive income attributable to IAC shareholders	$	51,418		$	80,157		$	26,935		$	(107,092	)	$	51,418

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

	IAC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Eliminations			IAC Consolidated
	(In thousands)
Revenue	$	—		$	570,101		$	215,132		$	(3,002	)	$	782,231
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	387			128,968			96,028			(688		)	224,695
Selling and marketing expense	723			220,780			59,091			(2,273		)	278,321
General and administrative expense	28,046			56,955			21,976			10			106,987
Product development expense	1,935			28,131			10,676			(51		)	40,691
Depreciation	402			9,434			4,297			—			14,133
Amortization of intangibles	—			10,784			5,667			—			16,451
Total operating costs and expenses	31,493			455,052			197,735			(3,002		)	681,278
Operating (loss) income	(31,493		)	115,049			17,397			—			100,953
Equity in earnings (losses) of unconsolidated affiliates	89,209			17,246			95			(107,162		)	(612		)
Interest expense	(12,948		)	(1,050		)	(11		)	—			(14,009		)
Other (expense) income, net	(8,311		)	8,771			3,653			—			4,113
Earnings from continuing operations before income taxes	36,457			140,016			21,134			(107,162		)	90,445
Income tax benefit (provision)	114,625			(46,133		)	(8,676		)	—			59,816
Earnings from continuing operations	151,082			93,883			12,458			(107,162		)	150,261
Earnings from discontinued operations, net of tax	175,730			—			5			(5		)	175,730
Net earnings	326,812			93,883			12,463			(107,167		)	325,991
Net loss attributable to noncontrolling interests	—			—			821			—			821
Net earnings attributable to IAC shareholders	$	326,812		$	93,883		$	13,284		$	(107,167	)	$	326,812
Comprehensive income (loss) attributable to IAC shareholders	$	289,950		$	90,988		$	(23,904	)	$	(67,084	)	$	289,950

Statement of operations for the nine months ended September 30, 2015:

	IAC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Eliminations			IAC Consolidated
	(In thousands)
Revenue	$	—		$	1,787,137		$	604,172		$	(9,104	)	$	2,382,205
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	846			354,416			225,478			(650		)	580,090
Selling and marketing expense	3,315			829,308			190,086			(8,420		)	1,014,289
General and administrative expense	95,192			202,314			80,793			(34		)	378,265
Product development expense	6,915			94,075			37,556			—			138,546
Depreciation	1,440			33,489			11,764			—			46,693
Amortization of intangibles	—			18,742			20,562			—			39,304
Total operating costs and expenses	107,708			1,532,344			566,239			(9,104		)	2,197,187
Operating (loss) income	(107,708		)	254,793			37,933			—			185,018
Equity in earnings (losses) of unconsolidated affiliates	220,971			36,312			494			(257,855		)	(78		)
Interest expense	(38,977		)	(6,220		)	(73		)	—			(45,270		)
Other income (expense), net	7,571			32,767			(512		)	—			39,826
Earnings from continuing operations before income taxes	81,857			317,652			37,842			(257,855		)	179,496
Income tax benefit (provision)	69,475			(107,397		)	3,200			—			(34,722		)
Earnings from continuing operations	151,332			210,255			41,042			(257,855		)	144,774
(Loss) earnings from discontinued operations, net of tax	(11		)	—			2			(2		)	(11		)
Net earnings	151,321			210,255			41,044			(257,857		)	144,763
Net loss attributable to noncontrolling interests	—			—			6,558			—			6,558
Net earnings attributable to IAC shareholders	$	151,321		$	210,255		$	47,602		$	(257,857	)	$	151,321
Comprehensive income (loss) attributable to IAC shareholders	$	94,533		$	207,445		$	(10,827	)	$	(196,618	)	$	94,533

Statement of operations for the nine months ended September 30, 2014:

	IAC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Eliminations			IAC Consolidated
	(In thousands)
Revenue	$	—		$	1,672,589		$	615,536		$	(9,332	)	$	2,278,793
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	742			384,431			261,821			(2,335		)	644,659
Selling and marketing expense	1,534			677,273			177,013			(6,410		)	849,410
General and administrative expense	77,101			151,089			83,747			36			311,973
Product development expense	5,111			81,532			32,332			(623		)	118,352
Depreciation	1,043			28,219			14,946			—			44,208
Amortization of intangibles	—			29,444			12,392			—			41,836
Total operating costs and expenses	85,531			1,351,988			582,251			(9,332		)	2,010,438
Operating (loss) income	(85,531		)	320,601			33,285			—			268,355
Equity in earnings (losses) of unconsolidated affiliates	148,604			20,593			131			(178,725		)	(9,397		)
Interest expense	(38,918		)	(3,144		)	(57		)	—			(42,119		)
Other income (expense), net	11,077			(9,935		)	(59,952		)	—			(58,810		)
Earnings (loss) from continuing operations before income taxes	35,232			328,115			(26,593		)	(178,725		)	158,029
Income tax benefit (provision)	135,421			(115,862		)	(11,017		)	—			8,542
Earnings (loss) from continuing operations	170,653			212,253			(37,610		)	(178,725		)	166,571
Earnings (loss) from discontinued operations, net of tax	174,048			—			(35		)	35			174,048
Net earnings (loss)	344,701			212,253			(37,645		)	(178,690		)	340,619
Net loss attributable to noncontrolling interests	—			—			4,082			—			4,082
Net earnings (loss) attributable to IAC shareholders	$	344,701		$	212,253		$	(33,563	)	$	(178,690	)	$	344,701
Comprehensive income (loss) attributable to IAC shareholders	$	310,979		$	209,078		$	(69,668	)	$	(139,410	)	$	310,979

Schedule of condensed cash flow statement

Statement of cash flows for the nine months ended September 30, 2015:

	IAC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			IAC Consolidated
	(In thousands)
Net cash (used in) provided by operating activities attributable to continuing operations	$	(145,714	)	$	310,471		$	19,350		$	184,107
Cash flows from investing activities attributable to continuing operations:
Acquisitions, net of cash acquired	—			(3,675		)	(39,611		)	(43,286		)
Capital expenditures	(1,051		)	(30,647		)	(12,860		)	(44,558		)
Proceeds from maturities and sales of marketable debt securities	192,928			—			—			192,928
Purchases of marketable debt securities	(93,134		)	—			—			(93,134		)
Purchases of long-term investments	—			—			(25,073		)	(25,073		)
Other, net	4,890			(1,097		)	663			4,456
Net cash provided by (used in) investing activities attributable to continuing operations	103,633			(35,419		)	(76,881		)	(8,667		)
Cash flows from financing activities attributable to continuing operations:
Purchase of treasury stock	(200,000		)	—			—			(200,000		)
Dividends	(84,947		)	—			—			(84,947		)
Principal payment on long-term debt	—			(80,000		)	—			(80,000		)
Issuance of common stock, net of withholding taxes	(40,197		)	—			—			(40,197		)
Excess tax benefits from stock-based awards	49,016			—			131			49,147
Purchase of noncontrolling interests	—			—			(29,899		)	(29,899		)
Acquisition-related contingent consideration payments	—			(202		)	(5,510		)	(5,712		)
Intercompany	(87,832		)	(195,884		)	283,716			—
Other, net	166			—			346			512
Net cash (used in) provided by financing activities attributable to continuing operations	(363,794		)	(276,086		)	248,784			(391,096		)
Total cash (used in) provided by continuing operations	(405,875		)	(1,034		)	191,253			(215,656		)
Total cash (used in) provided by discontinued operations	(192		)	—			2			(190		)
Effect of exchange rate changes on cash and cash equivalents	—			13			(8,124		)	(8,111		)
Net (decrease) increase in cash and cash equivalents	(406,067		)	(1,021		)	183,131			(223,957		)
Cash and cash equivalents at beginning of period	766,076			1,021			223,308			990,405
Cash and cash equivalents at end of period	$	360,009		$	—		$	406,439		$	766,448

Statement of cash flows for the nine months ended September 30, 2014:

	IAC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			IAC Consolidated
	(In thousands)
Net cash (used in) provided by operating activities attributable to continuing operations	$	(50,458	)	$	350,889		$	(5,770	)	$	294,661
Cash flows from investing activities attributable to continuing operations:
Acquisitions, net of cash acquired	—			(191,223		)	(52,973		)	(244,196		)
Capital expenditures	(2,375		)	(25,866		)	(10,792		)	(39,033		)
Proceeds from maturities and sales of marketable debt securities	998			—			—			998
Purchases of marketable debt securities	(110,886		)	—			—			(110,886		)
Purchases of long-term investments	(3,000		)	(7,043		)	(7,660		)	(17,703		)
Other, net	—			10			11,914			11,924
Net cash used in investing activities attributable to continuing operations	(115,263		)	(224,122		)	(59,511		)	(398,896		)
Cash flows from financing activities attributable to continuing operations:
Dividends	(68,505		)	—			—			(68,505		)
Issuance of common stock, net of withholding taxes	(4,823		)	—			—			(4,823		)
Excess tax benefits from stock-based awards	31,041			—			10,279			41,320
Purchase of noncontrolling interests	—			(30,000		)	(328		)	(30,328		)
Funds returned from escrow for Meetic tender offer	—			—			12,354			12,354
Acquisition-related contingent consideration payments	—			(286		)	(7,373		)	(7,659		)
Intercompany	106,215			(90,996		)	(15,219		)	—
Other, net	(382		)	(1,343		)	328			(1,397		)
Net cash provided by (used in) financing activities attributable to continuing operations	63,546			(122,625		)	41			(59,038		)
Total cash (used in) provided by continuing operations	(102,175		)	4,142			(65,240		)	(163,273		)
Total cash used in discontinued operations	(136		)	—			(35		)	(171		)
Effect of exchange rate changes on cash and cash equivalents	—			131			(5,419		)	(5,288		)
Net (decrease) increase in cash and cash equivalents	(102,311		)	4,273			(70,694		)	(168,732		)
Cash and cash equivalents at beginning of period	782,022			—			318,422			1,100,444
Cash and cash equivalents at end of period	$	679,711		$	4,273		$	247,728		$	931,712