XML 73 R8.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net (loss) earnings $ (182,643) $ 112,985
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Stock-based compensation expense 58,464 67,444
Amortization of intangibles 52,162 22,752
Depreciation 24,738 18,971
Bad debt expense 19,931 15,005
Goodwill impairment 211,973 0
Deferred income taxes (59,166) (65,107)
Losses on equity securities, net 51,473 44
Other adjustments, net 20,690 18,697
Changes in assets and liabilities, net of effects of acquisitions and dispositions:    
Accounts receivable (79,799) (88,367)
Other assets 10,172 6,730
Accounts payable and other liabilities (24,720) (26,829)
Income taxes payable and receivable (47,787) (6,154)
Deferred revenue 25,487 26,770
Net cash provided by operating activities 80,975 102,941
Cash flows from investing activities:    
Acquisitions, net of cash acquired (532,857) (21,555)
Capital expenditures (24,591) (25,855)
Proceeds from maturities of marketable debt securities 20,000 123,500
Purchases of marketable debt securities (49,806) (39,740)
Net proceeds from the sale of businesses and investments 1,476 20,472
Purchases of investments (25) 0
Other, net (203) (1,215)
Net cash (used in) provided by investing activities (586,006) 55,607
Cash flows from financing activities:    
Debt issuance costs (8,977) (5,542)
Purchase of noncontrolling interests (3,165) (3,182)
Other, net (464) 27
Net cash provided by (used in) financing activities 194,663 (73,660)
Total cash (used) provided (310,368) 84,888
Effect of exchange rate changes on cash and cash equivalents and restricted cash (5,996) 815
Net (decrease) increase in cash and cash equivalents and restricted cash (316,364) 85,703
Cash and cash equivalents and restricted cash at beginning of period 3,140,358 2,133,685
Cash and cash equivalents and restricted cash at end of period 2,823,994 2,219,388
IAC/InterActiveCorp    
Cash flows from financing activities:    
Proceeds from the exercise of stock options 412 9,298
Withholding taxes paid on behalf of employees on net settled stock-based awards (20,927) (14,062)
Match Group and ANGI Homeservices    
Cash flows from financing activities:    
Purchase of treasury stock (120,198) (24,186)
Proceeds from the exercise of stock options 0 573
Withholding taxes paid on behalf of employees on net settled stock-based awards (148,580) (123,148)
Match Group    
Cash flows from financing activities:    
Proceeds from issuance of Match Group debt 500,000 350,000
Borrowings under Match Group Credit Facility 0 40,000
Principal payments on debt 0 (300,000)
ANGI Homeservices    
Cash flows from financing activities:    
Principal payments on debt $ (3,438) $ (3,438)