XML 23 R12.htm IDEA: XBRL DOCUMENT v3.21.1
DISCONTINUED OPERATIONS
 12 Months Ended
Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS
NOTE 4—DISCONTINUED OPERATIONS
On June 30, 2020, as part of the Separation described in “Note 1—Organization,” 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) earnings from discontinued operations for the years ended December 31, 2020, 2019, and 2018 consist of the following:
Years Ended December 31,
202020192018
(In thousands)
Revenue$1,410,485 $2,705,797 $2,533,042 
Operating costs and expenses(1,840,178)(2,769,918)(2,517,372)
Operating (loss) income(429,693)(64,121)15,670 
Interest expense(3,772)(12,993)(14,759)
Other (expense) income(2,503)68,767 298,236 
Income tax benefit69,898 57,534 7,496 
(Loss) earnings from discontinued operations$(366,070)$49,187 $306,643