v3.2.0.727
CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenue $ 771,132 $ 756,315 $ 1,543,644 $ 1,496,562
Operating costs and expenses:        
Cost of revenue (exclusive of depreciation shown separately below) 183,276 210,730 374,829 419,964
Selling and marketing expense 319,397 272,490 677,063 571,089
General and administrative expense 129,349 109,897 244,143 204,986
Product development expense 46,430 38,845 91,687 77,661
Depreciation 15,500 15,257 31,068 30,075
Amortization of intangibles 14,411 13,406 26,966 25,385
Total operating costs and expenses 708,363 660,625 1,445,756 1,329,160
Operating income 62,769 95,690 97,888 167,402
Interest expense (15,214) (14,046) (29,278) (28,110)
Other (expense) income, net (1,638) (69,750) 5,350 (71,708)
Earnings from continuing operations before income taxes 45,917 11,894 73,960 67,584
Income tax benefit (provision) 11,968 (29,889) 5,788 (51,274)
Earnings (loss) from continuing operations 57,885 (17,995) 79,748 16,310
Loss from discontinued operations, net of tax (153) (868) (28) (1,682)
Net earnings (loss) 57,732 (18,863) 79,720 14,628
Net loss attributable to noncontrolling interests 1,573 867 5,990 3,261
Net earnings (loss) attributable to IAC shareholders $ 59,305 $ (17,996) $ 85,710 $ 17,889
Per share information attributable to IAC shareholders:        
Basic earnings (loss) per share from continuing operations (in dollars per share) $ 0.72 $ (0.21) $ 1.03 $ 0.24
Diluted earnings (loss) per share from continuing operations (in dollars per share) 0.68 (0.21) 0.98 0.22
Basic earnings (loss) per share (in dollars per share) 0.72 (0.22) 1.03 0.22
Diluted earnings (loss) per share (in dollars per share) 0.68 (0.22) 0.97 0.20
Dividends declared per share (in dollars per share) $ 0.34 $ 0.24 $ 0.68 $ 0.48
Stock-based compensation expense by function:        
Stock-based compensation expense $ 25,949 $ 16,552 $ 44,860 $ 26,165
Cost of revenue        
Stock-based compensation expense by function:        
Stock-based compensation expense 294 459 539 451
Selling and marketing expense        
Stock-based compensation expense by function:        
Stock-based compensation expense 3,119 657 4,842 853
General and administrative expense        
Stock-based compensation expense by function:        
Stock-based compensation expense 20,039 13,707 34,637 21,659
Product development expense        
Stock-based compensation expense by function:        
Stock-based compensation expense $ 2,497 $ 1,729 $ 4,842 $ 3,202