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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net earnings $ 259,776 $ 368,693
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Stock-based compensation expense 129,869 116,643
Amortization of intangibles 42,390 40,141
Depreciation 40,062 38,062
Bad debt expense 33,408 20,865
Deferred income taxes (57,169) (11,258)
Unrealized gains on equity securities, net (29,247) (126,559)
Losses (gains) from the sale of investments and businesses, net 6,242 (27,172)
Other adjustments, net 20,175 8,591
Changes in assets and liabilities, net of effects of acquisitions and dispositions:    
Accounts receivable (124,957) (60,185)
Other assets 3,482 (38,195)
Accounts payable and other liabilities (1,764) 1,063
Income taxes payable and receivable (7,956) 3,467
Deferred revenue 41,497 45,646
Net cash provided by operating activities 355,808 379,802
Cash flows from investing activities:    
Acquisitions, net of cash acquired (201,026) (17,513)
Capital expenditures (76,623) (39,696)
Proceeds from maturities of marketable debt securities 163,500 10,000
Purchases of marketable debt securities (39,740) (124,397)
Net proceeds from the sale of businesses and investments 23,373 27,540
Purchases of investments 0 (31,180)
Other, net (2,156) 9,599
Net cash used in investing activities (132,672) (165,647)
Cash flows from financing activities:    
Purchase of exchangeable note hedges (303,428) 0
Proceeds from issuance of warrants 166,520 0
Debt issuance costs (26,361) (532)
Purchase of noncontrolling interests (6,121) (877)
Other, net (3,719) (4,829)
Net cash provided by (used in) financing activities 796,771 (202,705)
Total cash provided 1,019,907 11,450
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 361 44
Net increase in cash, cash equivalents, and restricted cash 1,020,268 11,494
Cash, cash equivalents, and restricted cash at beginning of period 2,133,685 1,633,682
Cash, cash equivalents, and restricted cash at end of period 3,153,953 1,645,176
Match Group and ANGI Homeservices    
Cash flows from financing activities:    
Proceeds from the exercise of stock options 573 2,125
Withholding taxes paid on behalf of employees on net settled stock-based awards (164,710) (136,727)
ANGI Homeservices    
Cash flows from financing activities:    
Principal payments on debt (6,875) (6,875)
Match Group    
Cash flows from financing activities:    
Proceeds from issuance of debt 40,000 0
Purchase of exchangeable note hedges (303,428)  
Proceeds from issuance of warrants 166,520  
Proceeds from Match Group 2019 Senior Notes offering 350,000 0
Principal payments on debt (300,000) 0
Purchase of Match Group treasury stock (76,086) (73,943)
IAC/InterActiveCorp    
Cash flows from financing activities:    
Proceeds from issuance of debt 1,150,000 0
Purchase of Match Group treasury stock   (7,869)
Proceeds from the exercise of stock options 9,767 27,317
Withholding taxes paid on behalf of employees on net settled stock-based awards $ (32,789) $ (495)