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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenue $ 1,186,658 $ 1,059,122 $ 2,292,501 $ 2,054,197
Operating costs and expenses:        
Cost of revenue (exclusive of depreciation shown separately below) 276,389 218,224 536,460 420,186
Selling and marketing expense 411,102 369,660 832,962 772,492
General and administrative expense 225,514 188,363 439,130 372,547
Product development expense 78,614 75,445 167,314 152,382
Depreciation 21,091 18,805 40,062 38,062
Amortization of intangibles 19,638 20,188 42,390 40,141
Total operating costs and expenses 1,032,348 890,685 2,058,318 1,795,810
Operating income 154,310 168,437 234,183 258,387
Interest expense (37,206) (27,356) (68,349) (53,861)
Other income, net 45,972 171,141 46,623 166,522
Earnings before income taxes 163,076 312,222 212,457 371,048
Income tax (provision) benefit (16,285) (31,368) 47,319 (2,355)
Net earnings 146,791 280,854 259,776 368,693
Net earnings attributable to noncontrolling interests (33,324) (62,501) (57,614) (79,258)
Net earnings attributable to IAC shareholders $ 113,467 $ 218,353 $ 202,162 $ 289,435
Earnings per share attributable to IAC shareholders:        
Basic earnings per share (USD per share) $ 1.35 $ 2.61 $ 2.41 $ 3.47
Diluted earnings per share (USD per share) $ 1.19 $ 2.32 $ 2.10 $ 3.05
Stock-based compensation expense by function:        
Stock-based compensation expense $ 62,425 $ 57,561 $ 129,869 $ 116,643
Cost of revenue        
Stock-based compensation expense by function:        
Stock-based compensation expense 695 715 1,984 1,425
Selling and marketing expense        
Stock-based compensation expense by function:        
Stock-based compensation expense 2,760 2,077 5,477 3,842
General and administrative expense        
Stock-based compensation expense by function:        
Stock-based compensation expense 49,949 44,875 94,959 90,501
Product development expense        
Stock-based compensation expense by function:        
Stock-based compensation expense $ 9,021 $ 9,894 $ 27,449 $ 20,875