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QUARTERLY RESULTS (UNAUDITED) (Tables)
12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Results
 
Quarter Ended
March 31 (a)
 
Quarter Ended
June 30  (a)
 
Quarter Ended
September 30  (a)
 
Quarter Ended
December 31(a)
 
(In thousands, except per share data)
Year Ended December 31, 2019
 
 
 
 
 
 
 
Revenue
$
1,105,843

 
$
1,186,658

 
$
1,246,874

 
$
1,217,680

Cost of revenue
260,071

 
276,389

 
296,385

 
294,575

Operating income
79,873

 
154,310

 
185,852

 
161,298

Net earnings
112,985

 
146,791

 
159,772

 
124,272

Net earnings attributable to IAC shareholders
88,695

 
113,467

 
128,544

 
100,425

Per share information attributable to IAC shareholders:
     Basic earnings per share(f)
$
1.06

 
$
1.35

 
$
1.52

 
$
1.19

     Diluted earnings per share(f)
$
0.91

 
$
1.19

 
$
1.35

 
$
1.05

 
 
 
 
 
 
 
 
 
Quarter Ended
March 31(b)
 
Quarter Ended
June 30(c)
 
Quarter Ended
September 30(d)
 
Quarter Ended
December 31(e)
 
(In thousands, except per share data)
Year Ended December 31, 2018
 
 
 
 
 
 
 
Revenue
$
995,075

 
$
1,059,122

 
$
1,104,592

 
$
1,104,103

Cost of revenue
201,962

 
218,224

 
237,238

 
253,722

Operating income
89,950

 
168,437

 
172,832

 
133,920

Net earnings
87,839

 
280,854

 
171,577

 
217,477

Net earnings attributable to IAC shareholders
71,082

 
218,353

 
145,774

 
191,752

Per share information attributable to IAC shareholders:
     Basic earnings per share(f)
$
0.86

 
$
2.61

 
$
1.75

 
$
2.29

     Diluted earnings per share(f)
$
0.71

 
$
2.32

 
$
1.49

 
$
2.04

_______________________________________________________________________________
(a)
The first, second, third and fourth quarters of 2019 include after-tax stock-based compensation expense of $2.2 million, $1.9 million, $1.7 million, and $1.7 million, respectively, related to the modification of previously issued HomeAdvisor equity awards and previously issued Angie's List equity awards, both of which were converted into ANGI Homeservices' equity awards in the Combination.
(b)
The first quarter of 2018 includes after-tax stock-based compensation expense of $14.6 million related to the modification of previously issued HomeAdvisor equity awards and previously issued Angie's List equity awards, both of which were converted into ANGI Homeservices' equity awards in the Combination, and the acceleration of certain converted equity awards resulting from the termination of Angie's List employees in connection with the Combination, as well as after-tax costs of $4.1 million related to the Combination (including $2.8 million of deferred revenue write-offs).
(c)
The second quarter of 2018 includes:
i.
after-tax stock-based compensation expense of $12.8 million related to the modification of previously issued HomeAdvisor equity awards and previously issued Angie's List equity awards, both of which were converted into ANGI Homeservices' equity awards in the Combination, and the acceleration of certain converted equity awards resulting from the termination of Angie's List employees in connection with the Combination, as well as after-tax costs of $2.0 million related to the Combination (including $1.8 million of deferred revenue write-offs).
ii.
after-tax realized and unrealized gains of $133.3 million related to the sale of a certain equity investment.
(d)
The third quarter of 2018 includes after-tax stock-based compensation expense of $12.3 million related to the modification of previously issued HomeAdvisor equity awards and previously issued Angie's List equity awards, both of which were converted into ANGI Homeservices' equity awards in the Combination.
(e)
The fourth quarter of 2018 includes:
i.
after-tax stock-based compensation expense of $14.4 million related to the modification of previously issued HomeAdvisor equity awards and previously issued Angie's List equity awards, both of which were converted into ANGI Homeservices' equity awards in the Combination.
ii.
combined after-tax gains of $92.5 million related to the sales of Dictionary.com, Electus, Felix and CityGrid.
iii.
after-tax impairment charges related to indefinite-lived intangible assets of $21.3 million.
(f)
Quarterly per share amounts may not add to the related annual per share amount because of differences in the average common shares outstanding during each period.