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DISCONTINUED OPERATIONS
 6 Months Ended
Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS
NOTE 3—DISCONTINUED OPERATIONS
On June 30, 2020, as part of the Separation described in “Note 1—The Company and Summary of Significant Accounting Policies,” the operations of Former IAC businesses other than Match Group are presented as discontinued operations.
The components of assets and liabilities of discontinued operations in the accompanying consolidated balance sheet at December 31, 2019 consisted of the following:
December 31, 2019
(In thousands)
Cash and cash equivalents$2,673,619  
Marketable securities19,993  
Accounts receivable, net181,875  
Other current assets152,592  
Total current assets in discontinued operations$3,028,079  
Property and equipment, net$270,288  
Goodwill1,614,623  
Intangible assets, net350,150  
Long-term investments347,976  
Other non-current assets247,746  
Total non-current assets in discontinued operations$2,830,783  
Current portion of long-term debt$13,750  
Accounts payable, trade74,166  
Deferred revenue178,647  
Accrued expenses and other current liabilities322,333  
Total current liabilities in discontinued operations$588,896  
Long-term debt, net$231,946  
Income taxes payable6,410  
Deferred income taxes28,751  
Other long-term liabilities180,307  
Total long-term liabilities in discontinued operations$447,414  
The key components of loss from discontinued operations for the three and six months ended June 30, 2020 and 2019 consist of the following:
Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
(In thousands)
Revenue$726,361  $688,684  $1,410,485  $1,329,903  
Operating costs and expenses(840,902) (705,683) (1,840,178) (1,384,589) 
Operating loss(114,541) (16,999) (429,693) (54,686) 
Interest expense(1,555) (3,661) (3,772) (7,352) 
Other income (expense)51,244  43,435  (2,503) 45,573  
Income tax benefit30,241  4,790  69,390  39,333  
(Loss) earnings from discontinued operations(34,611) 27,565  (366,578) 22,868