DISCONTINUED OPERATIONS

9 Months Ended

Sep. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

NOTE 3—DISCONTINUED OPERATIONS

Pursuant to the terms of the transaction agreement dated as of December 19, 2019 (as amended, the “Transaction Agreement”), on June 30, 2020, the companies formerly known as Match Group, Inc. (referred to as “Former Match Group”) and IAC/InterActiveCorp (referred to as “Former IAC”) completed the separation of the Company from IAC through a series of transactions that resulted in two, separate public companies—(1) Match Group, which consists of the businesses of Former Match Group and certain financing subsidiaries previously owned by Former IAC, and (2) IAC, formerly known as IAC Holdings, Inc., consisting of Former IAC’s businesses other than Match Group (the “Separation”). Accordingly, the businesses of Former IAC other than Match Group are presented as discontinued operations.

The key components of loss from discontinued operations for the three and nine months ended September 30, 2021 and 2020 consist of the following:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2020		2021		2020
	(In thousands)
Revenue	$	—	$	—	$	1,410,485
Operating costs and expenses	—		—		(1,840,178)
Operating loss	—		—		(429,693)
Interest expense	—		—		(3,772)
Other expense	—		—		(2,503)
Income tax benefit	508		509		69,898
Earnings (loss) from discontinued operations	$	508	$	509	$	(366,070)