SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Segment Reporting Information

The following table presents revenue by reportable segment:



	Years Ended December 31,
	2019			2018			2017
	(In thousands)
Revenue:
Match Group	$	2,051,258		$	1,729,850		$	1,330,661
ANGI Homeservices	1,326,205			1,132,241			736,386
Vimeo	196,015			159,641			103,332
Dotdash	167,594			130,991			90,890
Applications	519,459			582,287			577,998
Emerging & Other	496,832			528,250			468,589
Inter-segment elimination	(308		)	(368		)	(617		)
Total	$	4,757,055		$	4,262,892		$	3,307,239

The following table presents the revenue of the Company's segments disaggregated by type of service:



	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Match Group
Direct revenue:
North America	$	1,024,161	$	902,478	$	741,334



	Years Ended December 31,
	2019		2018		2017
	(In thousands)
International	983,013		774,693		539,915
Total Direct revenue	2,007,174		1,677,171		1,281,249
Indirect revenue (principally advertising revenue)	44,084		52,679		49,412
Total Match Group revenue	$	2,051,258	$	1,729,850	$	1,330,661

Supplemental information on Direct revenue
Tinder	$	1,152,045	$	805,316	$	403,216
Other brands	855,129		871,855		878,033
Total Direct revenue	$	2,007,174	$	1,677,171	$	1,281,249

ANGI Homeservices
Marketplace:
Consumer connection revenue	$	913,533	$	704,341	$	521,481
Service professional membership subscription revenue	64,706		66,214		56,135
Other revenue	6,971		3,940		3,798
Total Marketplace revenue	985,210		774,495		581,414
Advertising and other revenue	264,682		287,676		97,483
Total North America revenue	1,249,892		1,062,171		678,897
Consumer connection revenue	59,611		50,913		40,009
Service professional membership subscription revenue	14,231		17,362		16,596
Advertising and other revenue	2,471		1,795		884
Total Europe revenue	76,313		70,070		57,489
Total ANGI Homeservices revenue	$	1,326,205	$	1,132,241	$	736,386

Vimeo
Platform revenue	$	193,736	$	146,665	$	99,650
Hardware revenue	2,279		12,976		3,682
Total Vimeo revenue	$	196,015	$	159,641	$	103,332

Dotdash
Display advertising revenue	$	126,487	$	103,704	$	76,316
Performance marketing revenue	41,107		27,287		14,574
Total Dotdash revenue	$	167,594	$	130,991	$	90,890

Applications
Desktop:
Advertising revenue:
Google advertising revenue	$	291,215	$	426,964	$	480,774
Non-Google advertising revenue	13,162		10,992		6,762
Total advertising revenue	304,377		437,956		487,536
Subscription and other revenue	15,858		20,815		34,613
Total Desktop revenue	320,235		458,771		522,149
Mosaic Group:
Subscription and other revenue	189,878		104,975		27,980
Advertising revenue	9,346		18,541		27,869
Total Mosaic Group revenue	199,224		123,516		55,849
Total Applications revenue	$	519,459	$	582,287	$	577,998



	Years Ended December 31,
	2019		2018		2017
	(In thousands)

Emerging & Other
Advertising revenue:
Google advertising revenue	$	391,709	$	357,752	$	225,576
Non-Google advertising revenue	45,750		66,733		53,911
Total advertising revenue	437,459		424,485		279,487
Other revenue	59,373		103,765		169,497
Test preparation revenue	—		—		19,605
Total Emerging & Other revenue	$	496,832	$	528,250	$	468,589

Schedule of Revenue by Geographic Areas

Revenue by geography is based on where the customer is located. Geographic information about revenue and long-lived assets is presented below:



	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Revenue:
United States	$	3,070,487	$	2,824,928	$	2,323,050
All other countries	1,686,568		1,437,964		984,189
Total	$	4,757,055	$	4,262,892	$	3,307,239

Schedule of Long-lived Assets by Geographic Areas



	December 31,
	2019		2018
	(In thousands)
Long-lived assets (excluding goodwill and intangible assets):
United States	$	345,937	$	289,756
All other countries	25,416		29,044
Total	$	371,353	$	318,800

Schedule of Reconciliation of Adjusted EBITDA to Operating Income (Loss)

The following tables present operating income (loss) and Adjusted EBITDA by reportable segment:



	Years Ended December 31,
	2019			2018			2017
	(In thousands)
Operating income (loss):
Match Group	$	648,531		$	553,294		$	360,517
ANGI Homeservices	38,645			63,906			(149,176		)
Vimeo	(51,921		)	(35,594		)	(27,328		)
Dotdash	29,021			18,778			(15,694		)
Applications	113,569			94,834			130,176
Emerging & Other	(13,012		)	29,964			17,412
Corporate	(183,500		)	(160,043		)	(127,441		)
Total	$	581,333		$	565,139		$	188,466



	Years Ended December 31,
	2019			2018			2017
	(In thousands)
Adjusted EBITDA:^(a)
Match Group	$	779,432		$	653,931		$	468,941
ANGI Homeservices	$	202,297		$	247,506		$	37,858
Vimeo	$	(41,790	)	$	(28,045	)	$	(23,607	)
Dotdash	$	39,601		$	21,384		$	(2,763	)
Applications	$	103,551		$	131,837		$	136,757
Emerging & Other	$	(7,756	)	$	36,178		$	25,862
Corporate	$	(88,640	)	$	(74,017	)	$	(67,755	)

_______________________________________________________________________________

(a) The Company's primary financial measure is Adjusted EBITDA, which is defined as operating income excluding: (1) stock-based compensation expense; (2) depreciation; and (3) acquisition-related items consisting of (i) amortization of intangible assets and impairments of goodwill and intangible assets, if applicable, and (ii) gains and losses recognized on changes in the fair value of contingent consideration arrangements. The Company believes this measure is useful for analysts and investors as this measure allows a more meaningful comparison between our performance and that of our competitors. The above items are excluded from our Adjusted EBITDA measure because these items are non-cash in nature. Adjusted EBITDA has certain limitations because it excludes the impact of these expenses.

The following tables reconcile operating income (loss) for the Company's reportable segments and net earnings attributable to IAC shareholders to Adjusted EBITDA:



	Year Ended December 31, 2019
	Operating Income (Loss)			Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Adjustments			Goodwill Impairment		Adjusted EBITDA
	(In thousands)
Match Group	$	648,531		$	89,724	$	32,450	$	8,727	$	—		$	—	$	779,432
ANGI Homeservices	38,645			$	68,255	$	39,915	$	55,482	$	—		$	—	$	202,297
Vimeo	(51,921		)	$	—	$	478	$	9,653	$	—		$	—	$	(41,790	)
Dotdash	29,021			$	—	$	974	$	9,606	$	—		$	—	$	39,601
Applications	113,569			$	—	$	1,443	$	8,277	$	(19,738	)	$	—	$	103,551
Emerging & Other	(13,012		)	$	—	$	1,088	$	850	$	—		$	3,318	$	(7,756	)
Corporate	(183,500		)	$	82,809	$	12,051	$	—	$	—		$	—	$	(88,640	)
Total	581,333
Interest expense	(153,563		)
Other income, net	66,741
Earnings before income taxes	494,511
Income tax benefit	49,309
Net earnings	543,820
Net earnings attributable to noncontrolling interests	(112,689		)
Net earnings attributable to IAC shareholders	$	431,131



	Year Ended December 31, 2018
	Operating Income (Loss)			Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Adjustments		Adjusted EBITDA
	(In thousands)
Match Group	$	553,294		$	66,031	$	32,968	$	1,318	$	320	$	653,931
ANGI Homeservices	63,906			$	97,078	$	24,310	$	62,212	$	—	$	247,506
Vimeo	(35,594		)	$	—	$	1,200	$	6,349	$	—	$	(28,045	)
Dotdash	18,778			$	—	$	969	$	1,637	$	—	$	21,384
Applications	94,834			$	—	$	2,601	$	33,266	1,136		$	131,837
Emerging & Other	29,964			$	919	$	1,678	$	3,617	$	—	$	36,178
Corporate	(160,043		)	$	74,392	$	11,634	$	—	$	—	$	(74,017	)
Total	565,139
Interest expense	(109,327		)
Other income, net	305,746
Earnings before income taxes	761,558
Income tax provision	(3,811		)
Net earnings	757,747
Net earnings attributable to noncontrolling interests	(130,786		)
Net earnings attributable to IAC shareholders	$	626,961



	Year Ended December 31, 2017
	Operating Income (Loss)			Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Adjustments		Adjusted EBITDA
	(In thousands)
Match Group	$	360,517		$	69,090	$	32,613	$	1,468	$	5,253	$	468,941
ANGI Homeservices	(149,176		)	$	149,230	$	14,543	$	23,261	$	—	$	37,858
Vimeo	(27,328		)	$	—	$	1,408	$	2,313	$	—	$	(23,607	)
Dotdash	(15,694		)	$	—	$	2,255	$	10,676	$	—	$	(2,763	)
Applications	130,176			$	—	$	3,863	$	2,170	$	548	$	136,757
Emerging & Other	17,412			$	2,130	$	4,065	$	2,255	$	—	$	25,862
Corporate	(127,441		)	$	44,168	$	15,518	$	—	$	—	$	(67,755	)
Total	188,466
Interest expense	(105,295		)
Other expense, net	(16,213		)
Earnings before income taxes	66,958
Income tax benefit	291,050
Net earnings	358,008
Net earnings attributable to noncontrolling interests	(53,084		)
Net earnings attributable to IAC shareholders	$	304,924

Schedule of Capital Expenditures by Segment

The following table presents capital expenditures by reportable segment:



	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Capital expenditures:
Match Group	$	38,754	$	30,954	$	28,833
ANGI Homeservices	68,804		46,976		26,837
Vimeo	2,801		209		109
Dotdash	—		102		825
Applications	85		111		227
Emerging & Other	345		1,119		852
Corporate	25,863		6,163		17,840
Total	$	136,652	$	85,634	$	75,523