| QUARTERLY RESULTS (UNAUDITED) |
QUARTERLY RESULTS (UNAUDITED) | | | | | | | | | | | | | | | | | | Quarter Ended March 31(a) | | Quarter Ended June 30 | | Quarter Ended September 30 | | Quarter Ended December 31 | | (In thousands, except per share data) | Year Ended December 31, 2013 | | | | | | | | Revenue | $ | 742,249 |
| | $ | 799,411 |
| | $ | 756,872 |
| | $ | 724,455 |
| Cost of revenue | 255,849 |
| | 272,822 |
| | 248,856 |
| | 222,574 |
| Operating income | 84,551 |
| | 106,696 |
| | 122,004 |
| | 112,952 |
| Earnings from continuing operations | 52,709 |
| | 58,540 |
| | 91,721 |
| | 78,829 |
| (Loss) earnings from discontinued operations, net of tax | (944 | ) | | (1,068 | ) | | 3,914 |
| | 24 |
| Net earnings | 51,765 |
| | 57,472 |
| | 95,635 |
| | 78,853 |
| Net earnings attributable to IAC shareholders | 53,637 |
| | 58,290 |
| | 96,940 |
| | 76,917 |
| Per share information attributable to IAC shareholders: | Basic earnings per share from continuing operations(c) | $ | 0.65 |
| | $ | 0.71 |
| | $ | 1.12 |
| | $ | 0.93 |
| Diluted earnings per share from continuing operations(c) | $ | 0.62 |
| | $ | 0.69 |
| | $ | 1.08 |
| | $ | 0.88 |
| Basic earnings per share(c) | $ | 0.64 |
| | $ | 0.70 |
| | $ | 1.17 |
| | $ | 0.93 |
| Diluted earnings per share(c) | $ | 0.61 |
| | $ | 0.67 |
| | $ | 1.13 |
| | $ | 0.88 |
| | | | | | | | | | Quarter Ended March 31(a) | | Quarter Ended June 30 (a)(b) | | Quarter Ended September 30(a) | | 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 | 223,300 |
| | 237,304 |
| | 262,275 |
| | 267,918 |
| 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 |
|
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| | (a) | During the second quarter of 2013, certain expenses were reclassified between cost of revenue, selling and marketing expense, general and administrative expense and product development expense. Accordingly, cost of revenue presented above for periods prior to the second quarter of 2013 differs from the amounts reflected in the Company’s quarterly reports on Form 10-Q for the first quarter of 2013 and the second and third quarters of 2012. |
| | (b) | 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. |
| | (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. |
|