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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted earnings per share attributable to IAC shareholders.
 
Three Months Ended September 30,
 
2012
 
2011
 
Basic
 
Diluted
 
Basic
 
Diluted
 
(In thousands, except per share data)
Numerator:
 
 
 
 
 
 
 
Earnings from continuing operations
$
46,185

 
$
46,185

 
$
67,973

 
$
67,973

Net loss attributable to noncontrolling interests
156

 
156

 
922

 
922

Earnings from continuing operations attributable to IAC shareholders
46,341

 
46,341

 
68,895

 
68,895

Loss from discontinued operations attributable to IAC shareholders
(5,624
)
 
(5,624
)
 
(3,922
)
 
(3,922
)
Net earnings attributable to IAC shareholders
$
40,717

 
$
40,717

 
$
64,973

 
$
64,973

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average basic shares outstanding
88,296

 
88,296

 
84,613

 
84,613

Dilutive securities including stock options, warrants, RSUs(a)(b)
—

 
6,394

 
—

 
9,129

Denominator for earnings per share—weighted average shares(a)(b)
88,296

 
94,690

 
84,613

 
93,742

 
 
 
 
 
 
 
 
Earnings (loss) per share attributable to IAC shareholders:
 
 
 
 
 
 
 
Earnings per share from continuing operations
$
0.52

 
$
0.49

 
$
0.81

 
$
0.73

Discontinued operations
(0.06
)
 
(0.06
)
 
(0.04
)
 
(0.04
)
Earnings per share
$
0.46

 
$
0.43

 
$
0.77

 
$
0.69

 
Nine Months Ended September 30,
 
2012
 
2011
 
Basic
 
Diluted
 
Basic
 
Diluted
 
(In thousands, except per share data)
Numerator:
 
 
 
 
 
 
 
Earnings from continuing operations
$
125,439

 
$
125,439

 
$
133,771

 
$
133,771

Net (earnings) loss attributable to noncontrolling interests
(331
)
 
(331
)
 
54

 
54

Earnings from continuing operations attributable to IAC shareholders
125,108

 
125,108

 
133,825

 
133,825

Loss from discontinued operations attributable to IAC shareholders
(6,581
)
 
(6,581
)
 
(8,358
)
 
(8,358
)
Net earnings attributable to IAC shareholders
$
118,527

 
$
118,527

 
$
125,467

 
$
125,467

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average basic shares outstanding
85,766

 
85,766

 
87,898

 
87,898

Dilutive securities including stock options, warrants, RSUs(a)(b)
—

 
7,026

 
—

 
6,992

Denominator for earnings per share—weighted average shares(a)(b)
85,766

 
92,792

 
87,898

 
94,890

 
 
 
 
 
 
 
 
Earnings (loss) per share attributable to IAC shareholders:
 
 
 
 
 
 
 
Earnings per share from continuing operations
$
1.46

 
$
1.35

 
$
1.52

 
$
1.41

Discontinued operations
(0.08
)
 
(0.07
)
 
(0.09
)
 
(0.09
)
Earnings per share
$
1.38

 
$
1.28

 
$
1.43

 
$
1.32

_______________________
(a)
If the effect is dilutive, weighted average common shares outstanding include the incremental shares that would be issued upon the assumed exercise of stock options and warrants and vesting of restricted stock units ("RSUs") and performance-based stock units ("PSUs"). At September 30, 2012, there are no warrants outstanding. For the three and nine months ended September 30, 2012, approximately 0.3 million and 0.7 million shares, respectively, related to potentially dilutive securities are excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. For the three and nine months ended September 30, 2011, approximately 0.8 million and 1.3 million shares, respectively, related to potentially dilutive securities are excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.

(b)
At September 30, 2012, there were approximately 2.3 million PSUs included in the calculation of diluted earnings per share, as their performance conditions have been met. Prior to September 30, 2012, no PSUs were included in diluted earnings per share. For the three and nine months ended September 30, 2012, approximately 0.6 million PSUs are excluded from the calculation of diluted earnings per share. For the three and nine months ended September 30, 2011, approximately 3.3 million PSUs are excluded from the calculation of diluted earnings per share.