XML 52 R29.htm IDEA: XBRL DOCUMENT v2.4.0.6
QUARTERLY RESULTS (UNAUDITED)
 12 Months Ended
Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract]  
QUARTERLY RESULTS (UNAUDITED)
QUARTERLY RESULTS (UNAUDITED)
 
Quarter Ended
March 31
 
Quarter Ended
June 30 (a)
 
Quarter Ended
September 30
 
Quarter Ended
December 31
 
(In thousands, except per share data)
Year Ended December 31, 2012
 
 
 
 
 
 
 
Revenue
$
640,600

 
$
680,612

 
$
714,470

 
$
765,251

Cost of revenue
223,571

 
236,690

 
261,932

 
270,277

Operating income
62,765

 
97,476

 
78,033

 
85,294

Earnings from continuing operations
31,153

 
48,101

 
46,185

 
44,408

Earnings (loss) from discontinued operations, net of tax
3,684

 
(4,641
)
 
(5,624
)
 
(2,470
)
Net earnings
34,837

 
43,460

 
40,561

 
41,938

Net earnings attributable to IAC shareholders
34,478

 
43,332

 
40,717

 
40,739

Per share information attributable to IAC shareholders:
Basic earnings per share from continuing operations(c)
$
0.37

 
$
0.56

 
$
0.52

 
$
0.49

Diluted earnings per share from continuing operations(c)
$
0.34

 
$
0.52

 
$
0.49

 
$
0.46

Basic earnings per share(c)
$
0.42

 
$
0.50

 
$
0.46

 
$
0.46

Diluted earnings per share(c)
$
0.38

 
$
0.47

 
$
0.43

 
$
0.43

 
Quarter Ended
March 31
 
Quarter Ended
June 30
 
Quarter Ended
September 30 (b)
 
Quarter Ended
December 31
 
(In thousands, except per share data)
Year Ended December 31, 2011
 
 
 
 
 
 
 
Revenue
$
460,213

 
$
485,404

 
$
516,884

 
$
596,943

Cost of revenue
172,718

 
181,472

 
188,642

 
218,412

Operating income
37,336

 
58,231

 
46,740

 
55,455

Earnings from continuing operations
20,168

 
45,630

 
67,973

 
41,798

(Loss) earnings from discontinued operations, net of tax
(1,948
)
 
(2,488
)
 
(3,922
)
 
4,366

Net earnings
18,220

 
43,142

 
64,051

 
46,164

Net earnings attributable to IAC shareholders
18,070

 
42,424

 
64,973

 
48,766

Per share information attributable to IAC shareholders:
Basic earnings per share from continuing operations(c)
$
0.22

 
$
0.50

 
$
0.81

 
$
0.53

Diluted earnings per share from continuing operations(c)
$
0.21

 
$
0.46

 
$
0.73

 
$
0.48

Basic earnings per share(c)
$
0.20

 
$
0.47

 
$
0.77

 
$
0.58

Diluted earnings per share(c)
$
0.19

 
$
0.44

 
$
0.69

 
$
0.53

_______________________________________________________________________________

(a)
The second quarter of 2012 includes an after-tax non-cash charge of $16.2 million related to the re-measurement of the carrying value of our equity method investment in News_Beast to fair value in connection with our acquisition of a controlling interest in June 2012.

(b)
The third quarter of 2011 includes an after-tax non-cash charge of $11.7 million related to the re-measurement of the carrying value of Match's 27% equity method investment in Meetic to fair value (i.e., the tender offer price of €15.00 per share) in connection with our acquisition of a controlling interest. The third quarter of 2011 also includes the reversal of a previously established deferred tax liability of $43.6 million in connection with the acquisition of Meetic.

(c)
Quarterly per share amounts may not add to the related annual per share amount because of differences in the average common shares outstanding during each period.