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GUARANTOR AND NONGUARANTOR FINANCIAL INFORMATION (Tables)
12 Months Ended
Dec. 31, 2015
Guarantor and Nonguarantor Financial Statements [Abstract]  
Condensed Balance Sheet
Balance sheet at December 31, 2015:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
IAC Consolidated
 
(In thousands)
Cash and cash equivalents
$
1,073,053

 
$

 
$
408,394

 
$

 
$
1,481,447

Marketable securities
27,578

 

 
11,622

 

 
39,200

Accounts receivable, net
33

 
117,337

 
132,707

 

 
250,077

Other current assets
30,813

 
48,884

 
94,589

 

 
174,286

Intercompany receivables

 
570,607

 
1,029,863

 
(1,600,470
)
 

Property and equipment, net
4,432

 
201,242

 
97,143

 

 
302,817

Goodwill

 
830,642

 
1,414,722

 

 
2,245,364

Intangible assets, net

 
139,160

 
301,668

 

 
440,828

Investment in subsidiaries
3,128,765

 
457,063

 
1,445

 
(3,587,273
)
 

Other non-current assets
89,017

 
13,428

 
188,477

 
(14,991
)
 
275,931

Total assets
$
4,353,691

 
$
2,378,363

 
$
3,680,630

 
$
(5,202,734
)
 
$
5,209,950

 
 
 
 
 
 
 
 
 
 
Current portion of long-term debt
$

 
$

 
$
40,000

 
$

 
$
40,000

Accounts payable, trade
4,711

 
43,240

 
38,932

 

 
86,883

Other current liabilities
62,833

 
182,848

 
395,982

 

 
641,663

Long-term debt, net of current maturities
554,732

 

 
1,193,481

 

 
1,748,213

Income taxes payable
152

 
3,435

 
30,105

 

 
33,692

Intercompany liabilities
1,600,470

 

 

 
(1,600,470
)
 

Other long-term liabilities
326,267

 
18,160

 
83,847

 
(14,991
)
 
413,283

Redeemable noncontrolling interests

 

 
30,391

 

 
30,391

IAC shareholders' equity
1,804,526

 
2,130,680

 
1,456,593

 
(3,587,273
)
 
1,804,526

Noncontrolling interests

 

 
411,299

 

 
411,299

Total liabilities and shareholders' equity
$
4,353,691

 
$
2,378,363

 
$
3,680,630

 
$
(5,202,734
)
 
$
5,209,950


Balance sheet at December 31, 2014:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
IAC Consolidated
 
(In thousands)
Cash and cash equivalents
$
762,231

 
$

 
$
228,174

 
$

 
$
990,405

Marketable securities
159,197

 

 
1,451

 

 
160,648

Accounts receivable, net
13

 
137,593

 
98,480

 

 
236,086

Other current assets
20,532

 
55,422

 
72,795

 

 
148,749

Intercompany receivables

 
691,357

 
1,964,011

 
(2,655,368
)
 

Property and equipment, net
4,950

 
207,407

 
90,102

 

 
302,459

Goodwill

 
840,104

 
914,822

 

 
1,754,926

Intangible assets, net

 
243,408

 
248,528

 

 
491,936

Investment in subsidiaries
5,035,304

 
466,165

 

 
(5,501,469
)
 

Other non-current assets
44,610

 
13,228

 
113,838

 

 
171,676

Total assets
$
6,026,837

 
$
2,654,684

 
$
3,732,201

 
$
(8,156,837
)
 
$
4,256,885

 
 
 
 
 
 
 
 
 
 
Accounts payable, trade
$
3,059

 
$
50,761

 
$
27,343

 
$

 
$
81,163

Other current liabilities
73,491

 
187,698

 
331,348

 

 
592,537

Long-term debt
1,000,000

 
80,000

 

 

 
1,080,000

Income taxes payable
2,240

 
2,929

 
27,466

 

 
32,635

Intercompany liabilities
2,655,368

 

 

 
(2,655,368
)
 

Other long-term liabilities
300,726

 
59,889

 
76,366

 

 
436,981

Redeemable noncontrolling interests

 

 
40,427

 

 
40,427

IAC shareholders' equity
1,991,953

 
2,273,407

 
3,228,062

 
(5,501,469
)
 
1,991,953

Noncontrolling interests

 

 
1,189

 

 
1,189

Total liabilities and shareholders' equity
$
6,026,837

 
$
2,654,684

 
$
3,732,201

 
$
(8,156,837
)
 
$
4,256,885

Condensed Statement of Operations
Statement of operations for the year ended December 31, 2015:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
IAC Consolidated
 
(In thousands)
Revenue
$

 
$
1,704,841

 
$
1,536,101

 
$
(10,009
)
 
$
3,230,933

Operating costs and expenses:
 
 
 
 
 
 
 
 
 
Cost of revenue (exclusive of depreciation shown separately below)
720

 
367,704

 
410,927

 
(1,190
)
 
778,161

Selling and marketing expense
3,210

 
852,173

 
499,053

 
(8,860
)
 
1,345,576

General and administrative expense
93,090

 
178,861

 
253,637

 
41

 
525,629

Product development expense
4,311

 
93,769

 
87,686

 

 
185,766

Depreciation
1,918

 
27,890

 
32,397

 

 
62,205

Amortization of intangibles

 
104,180

 
35,772

 

 
139,952

Goodwill impairment

 
14,056

 

 

 
14,056

Total operating costs and expenses
103,249

 
1,638,633

 
1,319,472

 
(10,009
)
 
3,051,345

Operating (loss) income
(103,249
)
 
66,208

 
216,629

 

 
179,588

Equity in earnings of unconsolidated affiliates
215,462

 
13,477

 
1,204

 
(229,371
)
 
772

Interest expense
(49,405
)
 
(6,130
)
 
(18,101
)
 

 
(73,636
)
Other (expense) income, net
(3,571
)
 
28,077

 
11,643

 

 
36,149

Earnings from continuing operations before income taxes
59,237

 
101,632

 
211,375

 
(229,371
)
 
142,873

Income tax benefit (provision)
60,218

 
(36,425
)
 
(53,309
)
 

 
(29,516
)
Earnings from continuing operations
119,455

 
65,207

 
158,066

 
(229,371
)
 
113,357

Earnings (loss) from discontinued operations, net of tax
17

 

 
(12
)
 
12

 
17

Net earnings
119,472

 
65,207

 
158,054

 
(229,359
)
 
113,374

Net loss attributable to noncontrolling interests

 

 
6,098

 

 
6,098

Net earnings attributable to IAC shareholders
$
119,472

 
$
65,207

 
$
164,152

 
$
(229,359
)
 
$
119,472

Comprehensive income attributable to IAC shareholders
$
55,069

 
$
61,730

 
$
98,323

 
$
(160,053
)
 
$
55,069


Statement of operations for the year ended December 31, 2014:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
IAC Consolidated
 
(In thousands)
Revenue
$

 
$
1,694,844

 
$
1,426,542

 
$
(11,839
)
 
$
3,109,547

Operating costs and expenses:
 
 
 
 
 
 
 
 
 
Cost of revenue (exclusive of depreciation shown separately below)
998

 
438,729

 
423,230

 
(2,753
)
 
860,204

Selling and marketing expense
2,138

 
715,646

 
437,928

 
(8,303
)
 
1,147,409

General and administrative expense
105,221

 
148,026

 
190,318

 
45

 
443,610

Product development expense
6,496

 
83,216

 
71,631

 
(828
)
 
160,515

Depreciation
1,426

 
26,182

 
33,548

 

 
61,156

Amortization of intangibles

 
33,587

 
24,339

 

 
57,926

Total operating costs and expenses
116,279

 
1,445,386

 
1,180,994

 
(11,839
)
 
2,730,820

Operating (loss) income
(116,279
)
 
249,458

 
245,548

 

 
378,727

Equity in earnings (losses) of unconsolidated affiliates
253,582

 
(6,440
)
 
451

 
(257,290
)
 
(9,697
)
Interest expense
(51,988
)
 
(4,229
)
 
(97
)
 

 
(56,314
)
Other income (expense), net
2,688

 
12,533

 
(58,008
)
 

 
(42,787
)
Earnings from continuing operations before income taxes
88,003

 
251,322

 
187,894

 
(257,290
)
 
269,929

Income tax benefit (provision)
152,197

 
(98,198
)
 
(89,371
)
 

 
(35,372
)
Earnings from continuing operations
240,200

 
153,124

 
98,523

 
(257,290
)
 
234,557

Earnings from discontinued operations, net of tax
174,673

 

 
570

 
(570
)
 
174,673

Net earnings
414,873

 
153,124

 
99,093

 
(257,860
)
 
409,230

Net loss attributable to noncontrolling interests

 

 
5,643

 

 
5,643

Net earnings attributable to IAC shareholders
$
414,873

 
$
153,124

 
$
104,736

 
$
(257,860
)
 
$
414,873

Comprehensive income attributable to IAC shareholders
$
340,219

 
$
144,926

 
$
33,229

 
$
(178,155
)
 
$
340,219

Statement of operations for the year ended December 31, 2013:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
IAC Consolidated
 
(In thousands)
Revenue
$

 
$
1,660,113

 
$
1,366,989

 
$
(4,115
)
 
$
3,022,987

Operating costs and expenses:
 
 
 
 
 
 
 
 
 
Cost of revenue (exclusive of depreciation shown separately below)
2,456

 
537,948

 
439,813

 
(2,860
)
 
977,357

Selling and marketing expense
2,563

 
591,543

 
389,801

 
(1,133
)
 
982,774

General and administrative expense
97,025

 
127,731

 
153,508

 
(122
)
 
378,142

Product development expense
4,685

 
77,153

 
57,921

 

 
139,759

Depreciation
1,386

 
27,609

 
29,914

 

 
58,909

Amortization of intangibles

 
37,890

 
21,953

 

 
59,843

Total operating costs and expenses
108,115

 
1,399,874

 
1,092,910

 
(4,115
)
 
2,596,784

Operating (loss) income
(108,115
)
 
260,239

 
274,079

 

 
426,203

Equity in earnings (losses) of unconsolidated affiliates
439,925

 
38,619

 
(303
)
 
(484,856
)
 
(6,615
)
Interest expense
(29,417
)
 
(3,957
)
 
(222
)
 

 
(33,596
)
Other (expense) income, net
(35,331
)
 
(18,653
)
 
84,293

 

 
30,309

Earnings from continuing operations before income taxes
267,062

 
276,248

 
357,847

 
(484,856
)
 
416,301

Income tax benefit (provision)
16,796

 
(81,803
)
 
(69,495
)
 

 
(134,502
)
Earnings from continuing operations
283,858

 
194,445

 
288,352

 
(484,856
)
 
281,799

Earnings (loss) from discontinued operations, net of tax
1,926

 

 
(39
)
 
39

 
1,926

Net earnings
285,784

 
194,445

 
288,313

 
(484,817
)
 
283,725

Net loss attributable to noncontrolling interests

 

 
2,059

 

 
2,059

Net earnings attributable to IAC shareholders
$
285,784

 
$
194,445

 
$
290,372

 
$
(484,817
)
 
$
285,784

Comprehensive income attributable to IAC shareholders
$
304,907

 
$
195,308

 
$
301,073

 
$
(496,381
)
 
$
304,907

Condensed Statement of Cash Flows
Statement of cash flows for the year ended December 31, 2015:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
IAC Consolidated
 
(In thousands)
Net cash (used in) provided by operating activities attributable to continuing operations
$
(139,227
)
 
$
235,424

 
$
253,208

 
$
349,405

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

 
(6,078
)
 
(611,324
)
 
(617,402
)
Capital expenditures
(1,332
)
 
(23,628
)
 
(37,089
)
 
(62,049
)
Proceeds from maturities and sales of marketable debt securities
218,462

 

 

 
218,462

Purchases of marketable debt securities
(93,134
)
 

 

 
(93,134
)
Proceeds from sales of long-term investments and a business
1,277

 

 
8,136

 
9,413

Purchases of long-term investments
(6,978
)
 

 
(27,492
)
 
(34,470
)
Other, net
3,613

 
(364
)
 
(6,790
)
 
(3,541
)
Net cash provided by (used in) investing activities attributable to continuing operations
121,908

 
(30,070
)
 
(674,559
)
 
(582,721
)
Cash flows from financing activities attributable to continuing operations:
 
 
 
 
 
 
 
Borrowings under Match Group Term Loan

 

 
788,000

 
788,000

Debt issuance costs
(1,876
)
 

 
(17,174
)
 
(19,050
)
Fees and expenses related to note exchange

 

 
(6,954
)
 
(6,954
)
Principal payments on long-term debt

 
(80,000
)
 

 
(80,000
)
Proceeds from Match Group initial public offering, net of fees and expenses

 

 
428,789

 
428,789

Purchase of treasury stock
(200,000
)
 

 

 
(200,000
)
Dividends
(113,196
)
 

 

 
(113,196
)
Issuance of common stock, net of withholding taxes
(38,418
)
 

 

 
(38,418
)
Repurchase of stock-based awards

 

 
(23,431
)
 
(23,431
)
Excess tax benefits from stock-based awards
18,034

 

 
38,384

 
56,418

Purchase of noncontrolling interests

 

 
(32,207
)
 
(32,207
)
Acquisition-related contingent consideration payments

 
(240
)
 
(5,510
)
 
(5,750
)
Intercompany
683,571

 
(125,114
)
 
(558,457
)
 

Other, net
(19,834
)
 

 
441

 
(19,393
)
Net cash provided by (used in) financing activities attributable to continuing operations
328,281

 
(205,354
)
 
611,881

 
734,808

Total cash provided by continuing operations
310,962

 

 
190,530

 
501,492

Total cash used in discontinued operations
(140
)
 

 
(12
)
 
(152
)
Effect of exchange rate changes on cash and cash equivalents

 

 
(10,298
)
 
(10,298
)
Net increase in cash and cash equivalents
310,822

 

 
180,220

 
491,042

Cash and cash equivalents at beginning of period
762,231

 

 
228,174

 
990,405

Cash and cash equivalents at end of period
$
1,073,053

 
$

 
$
408,394

 
$
1,481,447

Statement of cash flows for the year ended December 31, 2014:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
IAC Consolidated
 
(In thousands)
Net cash (used in) provided by operating activities attributable to continuing operations
$
(109,745
)
 
$
326,206

 
$
207,587

 
$
424,048

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

 
(100,683
)
 
(158,708
)
 
(259,391
)
Capital expenditures
(1,843
)
 
(27,755
)
 
(27,635
)
 
(57,233
)
Proceeds from maturities and sales of marketable debt securities
21,644

 

 

 
21,644

Purchases of marketable debt securities
(175,826
)
 

 

 
(175,826
)
Proceeds from sales of long-term investments and a business

 

 
58,388

 
58,388

Purchases of long-term investments
(4,800
)
 
(2,087
)
 
(17,447
)
 
(24,334
)
Other, net
(2,000
)
 
11

 
(1,053
)
 
(3,042
)
Net cash used in investing activities attributable to continuing operations
(162,825
)
 
(130,514
)
 
(146,455
)
 
(439,794
)
Cash flows from financing activities attributable to continuing operations:
 
 
 
 
 
 
 
Debt issuance costs
(383
)
 

 

 
(383
)
Dividends
(97,338
)
 

 

 
(97,338
)
Issuance of common stock, net of withholding taxes
1,609

 

 

 
1,609

Excess tax benefits from stock-based awards
29,186

 

 
15,771

 
44,957

Purchase of noncontrolling interests

 

 
(33,165
)
 
(33,165
)
Acquisition-related contingent consideration payment

 
(736
)
 
(7,373
)
 
(8,109
)
Funds transferred to escrow for Meetic tender offer

 

 
12,354

 
12,354

Intercompany
321,192

 
(193,672
)
 
(127,520
)
 

Other, net

 
(1,310
)
 
405

 
(905
)
Net cash provided by (used in) financing activities attributable to continuing operations
254,266

 
(195,718
)
 
(139,528
)
 
(80,980
)
Total cash used in continuing operations
(18,304
)
 
(26
)
 
(78,396
)
 
(96,726
)
Total cash used in discontinued operations
(116
)
 

 
(29
)
 
(145
)
Effect of exchange rate changes on cash and cash equivalents

 
26

 
(13,194
)
 
(13,168
)
Net decrease in cash and cash equivalents
(18,420
)
 

 
(91,619
)
 
(110,039
)
Cash and cash equivalents at beginning of period
780,651

 

 
319,793

 
1,100,444

Cash and cash equivalents at end of period
$
762,231

 
$

 
$
228,174

 
$
990,405

Statement of cash flows for the year ended December 31, 2013:
 
IAC
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
IAC Consolidated
 
(In thousands)
Net cash (used in) provided by operating activities attributable to continuing operations
$
(84,317
)
 
$
336,453

 
$
158,825

 
$
410,961

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

 
(1,356
)
 
(39,078
)
 
(40,434
)
Capital expenditures
(1,387
)
 
(54,377
)
 
(24,547
)
 
(80,311
)
Proceeds from maturities and sales of marketable debt securities
12,502

 

 

 
12,502

Proceeds from sales of long-term investments and assets
7,839

 

 
75,252

 
83,091

Purchases of long-term investments
(17,814
)
 

 
(33,266
)
 
(51,080
)
Other, net

 
220

 
(3,749
)
 
(3,529
)
Net cash provided by (used in) investing activities attributable to continuing operations
1,140

 
(55,513
)
 
(25,388
)
 
(79,761
)
Cash flows from financing activities attributable to continuing operations:
 
 
 
 
 
 
 
Debt issuance costs
(7,399
)
 

 

 
(7,399
)
Proceeds from issuance of long-term debt
500,000

 

 

 
500,000

Principal payments on long-term debt
(15,844
)
 

 

 
(15,844
)
Purchase of treasury stock
(264,214
)
 

 

 
(264,214
)
Dividends
(79,189
)
 

 

 
(79,189
)
Issuance of common stock, net of withholding taxes
(5,077
)
 

 

 
(5,077
)
Excess tax benefits from stock-based awards
21,317

 

 
11,574

 
32,891

Purchase of noncontrolling interests

 

 
(67,947
)
 
(67,947
)
Acquisition-related contingent consideration payments

 
(256
)
 

 
(256
)
Funds transferred to escrow for Meetic tender offer

 

 
(71,512
)
 
(71,512
)
Intercompany
216,730

 
(279,779
)
 
63,049

 

Other, net

 
(917
)
 
(2,870
)
 
(3,787
)
Net cash provided by (used in) financing activities attributable to continuing operations
366,324

 
(280,952
)
 
(67,706
)
 
17,666

Total cash provided by (used in) continuing operations
283,147

 
(12
)
 
65,731

 
348,866

Total cash used in discontinued operations
(1,828
)
 

 
(49
)
 
(1,877
)
Effect of exchange rate changes on cash and cash equivalents

 
12

 
3,466

 
3,478

Net increase in cash and cash equivalents
281,319

 

 
69,148

 
350,467

Cash and cash equivalents at beginning of period
499,332

 

 
250,645

 
749,977

Cash and cash equivalents at end of period
$
780,651

 
$

 
$
319,793

 
$
1,100,444