XML 54 R26.htm IDEA: XBRL DOCUMENT
v3.19.3

SEGMENT INFORMATION (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2019
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | The following tables present operating income (loss) and Adjusted EBTIDA by reportable segment:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
| (In thousands)
Operating Income (Loss): |  |  |  |  |  |  |
Match Group | $ | 176,604 |  |  | $ | 139,895 |  |  | $ | 468,330 |  |  | $ | 402,293 |
ANGI Homeservices | 24,726 |  |  | 33,515 |  |  | 32,488 |  |  | 46,021 |
Vimeo | (11,155 | ) |  | (6,161 | ) |  | (40,555 | ) |  | (25,502 | )
Dotdash | 3,695 |  |  | 2,416 |  |  | 13,752 |  |  | 6,946 |
Applications | 39,099 |  |  | 33,041 |  |  | 85,422 |  |  | 91,579 |
Emerging & Other | (1,821 | ) |  | 10,893 |  |  | (6,130 | ) |  | 23,465 |
Corporate | (45,296 | ) |  | (40,767 | ) |  | (133,272 | ) |  | (113,583 | )
Total | $ | 185,852 |  |  | $ | 172,832 |  |  | $ | 420,035 |  |  | $ | 431,219 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
| (In thousands)
Adjusted EBITDA (a): |  |  |  |  |  |  |
Match Group | $ | 206,131 |  |  | $ | 165,039 |  |  | $ | 564,720 |  |  | $ | 478,341 |
ANGI Homeservices | $ | 58,923 |  |  | $ | 77,700 |  |  | $ | 147,534 |  |  | $ | 181,319 |
Vimeo | $ | (7,997 | ) |  | $ | (4,229 | ) |  | $ | (33,661 | ) |  | $ | (19,644 | )
Dotdash | $ | 7,026 |  |  | $ | 3,071 |  |  | $ | 22,551 |  |  | $ | 8,914 |
Applications | $ | 25,433 |  |  | $ | 34,989 |  |  | $ | 80,440 |  |  | $ | 97,145 |
Emerging & Other | $ | (1,529 | ) |  | $ | 12,235 |  |  | $ | (5,141 | ) |  | $ | 28,733 |
Corporate | $ | (21,945 | ) |  | $ | (21,478 | ) |  | $ | (60,751 | ) |  | $ | (54,038 | )
_____________________
(a) | The Company's primary financial measure is Adjusted EBITDA, which is defined as operating income excluding: (1) stock-based compensation expense; (2) depreciation; and (3) acquisition-related items consisting of (i) amortization of intangible assets and impairments of goodwill and intangible assets, if applicable, and (ii) gains and losses recognized on changes in the fair value of contingent consideration arrangements. The Company believes this measure is useful for analysts and investors as this measure allows a more meaningful comparison between our performance and that of our competitors. Moreover, our management uses this measure internally to evaluate the performance of our businesses, and this measure is one of the primary metrics on which our internal budgets are based and by which management is compensated. The above items are excluded from our Adjusted EBITDA measure because these items are non-cash in nature. Adjusted EBITDA has certain limitations because it excludes the impact of these expenses.
The following table presents revenue by reportable segment:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
| (In thousands)
Revenue: |  |  |  |  |  |  |
Match Group | $ | 541,493 |  |  | $ | 443,943 |  |  | $ | 1,504,091 |  |  | $ | 1,272,506 |
ANGI Homeservices | 357,358 |  |  | 303,116 |  |  | 1,004,697 |  |  | 853,249 |
Vimeo | 52,145 |  |  | 40,304 |  |  | 141,439 |  |  | 115,432 |
Dotdash | 40,285 |  |  | 30,053 |  |  | 111,974 |  |  | 90,841 |
Applications | 126,071 |  |  | 153,973 |  |  | 402,557 |  |  | 429,034 |
Emerging & Other | 129,581 |  |  | 133,345 |  |  | 374,871 |  |  | 398,026 |
Inter-segment eliminations | (59 | ) |  | (142 | ) |  | (254 | ) |  | (299 | )
Total | $ | 1,246,874 |  |  | $ | 1,104,592 |  |  | $ | 3,539,375 |  |  | $ | 3,158,789 |
Schedule of Disaggregation of Revenue | The following table presents the revenue of the Company's segments disaggregated by type of service:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
| (In thousands)
Match Group |  |  |  |  |  |  |
Direct revenue: |  |  |  |  |  |  |
North America | $ | 268,863 |  |  | $ | 233,643 |  |  | $ | 758,135 |  |  | $ | 667,163 |
International | 262,086 |  |  | 197,902 |  |  | 714,076 |  |  | 564,846 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
| (In thousands)
Total Direct revenue | 530,949 |  |  | 431,545 |  |  | 1,472,211 |  |  | 1,232,009 |
Indirect revenue (principally advertising revenue) | 10,544 |  |  | 12,398 |  |  | 31,880 |  |  | 40,497 |
Total Match Group revenue | $ | 541,493 |  |  | $ | 443,943 |  |  | $ | 1,504,091 |  |  | $ | 1,272,506 |
ANGI Homeservices |  |  |  |  |  |  |
Marketplace: |  |  |  |  |  |  |
Consumer connection revenue | $ | 252,552 |  |  | $ | 195,065 |  |  | $ | 695,370 |  |  | $ | 531,297 |
Membership subscription revenue | 16,237 |  |  | 17,034 |  |  | 49,239 |  |  | 49,226 |
Other revenue | 1,727 |  |  | 950 |  |  | 5,360 |  |  | 2,869 |
Total Marketplace revenue | 270,516 |  |  | 213,049 |  |  | 749,969 |  |  | 583,392 |
Advertising and other revenue | 68,628 |  |  | 73,545 |  |  | 195,569 |  |  | 216,733 |
Total North America revenue | 339,144 |  |  | 286,594 |  |  | 945,538 |  |  | 800,125 |
Consumer connection revenue | 14,125 |  |  | 12,022 |  |  | 46,480 |  |  | 38,885 |
Membership subscription revenue | 3,465 |  |  | 4,217 |  |  | 10,820 |  |  | 13,405 |
Advertising and other revenue | 624 |  |  | 283 |  |  | 1,859 |  |  | 834 |
Total Europe revenue | 18,214 |  |  | 16,522 |  |  | 59,159 |  |  | 53,124 |
Total ANGI Homeservices revenue | $ | 357,358 |  |  | $ | 303,116 |  |  | $ | 1,004,697 |  |  | $ | 853,249 |
Vimeo |  |  |  |  |  |  |
Platform revenue | $ | 52,145 |  |  | $ | 37,245 |  |  | $ | 139,160 |  |  | $ | 106,470 |
Hardware revenue | — |  |  | 3,059 |  |  | 2,279 |  |  | 8,962 |
Total Vimeo revenue | $ | 52,145 |  |  | $ | 40,304 |  |  | $ | 141,439 |  |  | $ | 115,432 |
Dotdash |  |  |  |  |  |  |
Advertising revenue | $ | 29,158 |  |  | $ | 23,949 |  |  | $ | 84,171 |  |  | $ | 71,714 |
Affiliate commerce commission and other revenue | 11,127 |  |  | 6,104 |  |  | 27,803 |  |  | 19,127 |
Total Dotdash revenue | $ | 40,285 |  |  | $ | 30,053 |  |  | $ | 111,974 |  |  | $ | 90,841 |
Applications |  |  |  |  |  |  |
Desktop: |  |  |  |  |  |  |
Advertising revenue: |  |  |  |  |  |  |
Google advertising revenue | $ | 68,076 |  |  | $ | 110,855 |  |  | $ | 234,211 |  |  | $ | 326,982 |
Other advertising revenue | 3,179 |  |  | 3,416 |  |  | 9,373 |  |  | 7,223 |
Total advertising revenue | 71,255 |  |  | 114,271 |  |  | 243,584 |  |  | 334,205 |
Subscription and other revenue | 3,613 |  |  | 4,271 |  |  | 12,109 |  |  | 16,355 |
Total Desktop revenue | 74,868 |  |  | 118,542 |  |  | 255,693 |  |  | 350,560 |
Mosaic Group: |  |  |  |  |  |  |
Subscription and other revenue | 49,079 |  |  | 31,157 |  |  | 139,907 |  |  | 63,687 |
Advertising revenue | 2,124 |  |  | 4,274 |  |  | 6,957 |  |  | 14,787 |
Total Mosaic Group revenue | 51,203 |  |  | 35,431 |  |  | 146,864 |  |  | 78,474 |
Total Applications revenue | $ | 126,071 |  |  | $ | 153,973 |  |  | $ | 402,557 |  |  | $ | 429,034 |
Emerging & Other |  |  |  |  |  |  |
Advertising revenue: |  |  |  |  |  |  |
Google advertising revenue | $ | 101,609 |  |  | $ | 84,955 |  |  | $ | 303,207 |  |  | $ | 266,061 |
Other advertising revenue | 11,955 |  |  | 20,918 |  |  | 27,231 |  |  | 50,986 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
| (In thousands)
Total advertising revenue | 113,564 |  |  | 105,873 |  |  | 330,438 |  |  | 317,047 |
Other revenue | 16,017 |  |  | 27,472 |  |  | 44,433 |  |  | 80,979 |
Total Emerging & Other revenue | $ | 129,581 |  |  | $ | 133,345 |  |  | $ | 374,871 |  |  | $ | 398,026 |
Schedule of Revenue and Long-lived Assets, Excluding Goodwill and Intangible Assets, by Geography | Revenue by geography is based on where the customer is located. Geographic information about revenue and long-lived assets is presented below:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
| (In thousands)
Revenue: |  |  |  |  |  |  |
United States | $ | 807,188 |  |  | $ | 738,599 |  |  | $ | 2,293,664 |  |  | $ | 2,104,750 |
All other countries | 439,686 |  |  | 365,993 |  |  | 1,245,711 |  |  | 1,054,039 |
Total | $ | 1,246,874 |  |  | $ | 1,104,592 |  |  | $ | 3,539,375 |  |  | $ | 3,158,789 |
| September 30, 2019 |  | December 31, 2018
| (In thousands)
Long-lived assets (excluding goodwill and intangible assets): |  |  |
United States | $ | 336,055 |  |  | $ | 289,756 |
All other countries | 25,609 |  |  | 29,044 |
Total | $ | 361,664 |  |  | $ | 318,800 |
Schedule of Reconciliation of Operating Income to Adjusted EBITDA | The following tables reconcile operating income (loss) to Adjusted EBITDA for the Company's reportable segments:
| Three Months Ended September 30, 2019
| Operating Income (Loss) |  | Stock-Based Compensation Expense |  | Depreciation |  | Amortization of Intangibles |  | Acquisition-related Contingent Consideration Fair Value Adjustments |  | Adjusted EBITDA
| (In thousands)
Match Group | $ | 176,604 |  |  | $ | 20,805 |  |  | $ | 8,081 |  |  | $ | 641 |  |  | $ | — |  |  | $ | 206,131 |
ANGI Homeservices | 24,726 |  |  | $ | 8,784 |  |  | $ | 11,244 |  |  | $ | 14,169 |  |  | $ | — |  |  | $ | 58,923 |
Vimeo | (11,155 | ) |  | $ | — |  |  | $ | 39 |  |  | $ | 3,119 |  |  | $ | — |  |  | $ | (7,997 | )
Dotdash | 3,695 |  |  | $ | — |  |  | $ | 216 |  |  | $ | 3,115 |  |  | $ | — |  |  | $ | 7,026 |
Applications | 39,099 |  |  | $ | — |  |  | $ | 331 |  |  | $ | 2,142 |  |  | $ | (16,139 | ) |  | $ | 25,433 |
Emerging & Other | (1,821 | ) |  | $ | — |  |  | $ | 292 |  |  | $ | — |  |  | $ | — |  |  | $ | (1,529 | )
Corporate | (45,296 | ) |  | $ | 20,464 |  |  | $ | 2,887 |  |  | $ | — |  |  | $ | — |  |  | $ | (21,945 | )
Operating income | 185,852 |  |  |  |  |  |  |  |  |  |  |
Interest expense | (42,132 | ) |  |  |  |  |  |  |  |  |  |
Other income, net | 1,229 |  |  |  |  |  |  |  |  |  |  |
Earnings before income taxes | 144,949 |  |  |  |  |  |  |  |  |  |  |
Income tax benefit | 14,823 |  |  |  |  |  |  |  |  |  |  |
Net earnings | 159,772 |  |  |  |  |  |  |  |  |  |  |
Net earnings attributable to noncontrolling interests | (31,228 | ) |  |  |  |  |  |  |  |  |  |
Net earnings attributable to IAC shareholders | $ | 128,544 |  |  |  |  |  |  |  |  |  |  |
| Three Months Ended September 30, 2018
| Operating Income (Loss) |  | Stock-Based Compensation Expense |  | Depreciation |  | Amortization of Intangibles |  | Acquisition-related Contingent Consideration Fair Value Adjustments |  | Adjusted EBITDA
| (In thousands)
Match Group | $ | 139,895 |  |  | $ | 16,141 |  |  | $ | 8,513 |  |  | $ | 435 |  |  | $ | 55 |  |  | $ | 165,039 |
ANGI Homeservices | 33,515 |  |  | $ | 22,474 |  |  | $ | 6,100 |  |  | $ | 15,611 |  |  | $ | — |  |  | $ | 77,700 |
Vimeo | (6,161 | ) |  | $ | — |  |  | $ | 291 |  |  | $ | 1,641 |  |  | $ | — |  |  | $ | (4,229 | )
Dotdash | 2,416 |  |  | $ | — |  |  | $ | 246 |  |  | $ | 409 |  |  | $ | — |  |  | $ | 3,071 |
Applications | 33,041 |  |  | $ | — |  |  | $ | 617 |  |  | $ | 1,331 |  |  | $ | — |  |  | $ | 34,989 |
Emerging & Other | 10,893 |  |  | $ | 323 |  |  | $ | 294 |  |  | $ | 725 |  |  | $ | — |  |  | $ | 12,235 |
Corporate | (40,767 | ) |  | $ | 16,425 |  |  | $ | 2,864 |  |  | $ | — |  |  | $ | — |  |  | $ | (21,478 | )
Operating income | 172,832 |  |  |  |  |  |  |  |  |  |  |
Interest expense | (27,610 | ) |  |  |  |  |  |  |  |  |  |
Other income, net | 8,113 |  |  |  |  |  |  |  |  |  |  |
Earnings before income taxes | 153,335 |  |  |  |  |  |  |  |  |  |  |
Income tax benefit | 18,242 |  |  |  |  |  |  |  |  |  |  |
Net earnings | 171,577 |  |  |  |  |  |  |  |  |  |  |
Net earnings attributable to noncontrolling interests | (25,803 | ) |  |  |  |  |  |  |  |  |  |
Net earnings attributable to IAC shareholders | $ | 145,774 |  |  |  |  |  |  |  |  |  |  |
| Nine Months Ended September 30, 2019
| Operating Income (Loss) |  | Stock-Based Compensation Expense |  | Depreciation |  | Amortization of Intangibles |  | Acquisition-related Contingent Consideration Fair Value Adjustments |  | Adjusted EBITDA
| (In thousands)
Match Group | $ | 468,330 |  |  | $ | 70,817 |  |  | $ | 24,109 |  |  | $ | 1,464 |  |  | $ | — |  |  | $ | 564,720 |
ANGI Homeservices | 32,488 |  |  | $ | 45,586 |  |  | $ | 27,039 |  |  | $ | 42,421 |  |  | $ | — |  |  | $ | 147,534 |
Vimeo | (40,555 | ) |  | $ | — |  |  | $ | 364 |  |  | $ | 6,530 |  |  | $ | — |  |  | $ | (33,661 | )
Dotdash | 13,752 |  |  | $ | — |  |  | $ | 660 |  |  | $ | 8,139 |  |  | $ | — |  |  | $ | 22,551 |
Applications | 85,422 |  |  | $ | — |  |  | $ | 1,139 |  |  | $ | 6,872 |  |  | $ | (12,993 | ) |  | $ | 80,440 |
Emerging & Other | (6,130 | ) |  | $ | — |  |  | $ | 839 |  |  | $ | 150 |  |  | $ | — |  |  | $ | (5,141 | )
Corporate | (133,272 | ) |  | $ | 63,519 |  |  | $ | 9,002 |  |  | $ | — |  |  | $ | — |  |  | $ | (60,751 | )
Operating income | 420,035 |  |  |  |  |  |  |  |  |  |  |
Interest expense | (110,481 | ) |  |  |  |  |  |  |  |  |  |
Other income, net | 47,852 |  |  |  |  |  |  |  |  |  |  |
Earnings before income taxes | 357,406 |  |  |  |  |  |  |  |  |  |  |
Income tax benefit | 62,142 |  |  |  |  |  |  |  |  |  |  |
Net earnings | 419,548 |  |  |  |  |  |  |  |  |  |  |
Net earnings attributable to noncontrolling interests | (88,842 | ) |  |  |  |  |  |  |  |  |  |
Net earnings attributable to IAC shareholders | $ | 330,706 |  |  |  |  |  |  |  |  |  |  |
| Nine Months Ended September 30, 2018
| Operating Income (Loss) |  | Stock-Based Compensation Expense |  | Depreciation |  | Amortization of Intangibles |  | Acquisition-related Contingent Consideration Fair Value Adjustments |  | Adjusted EBITDA
| (In thousands)
Match Group | $ | 402,293 |  |  | $ | 49,810 |  |  | $ | 25,059 |  |  | $ | 914 |  |  | $ | 265 |  |  | $ | 478,341 |
ANGI Homeservices | 46,021 |  |  | $ | 69,433 |  |  | $ | 18,170 |  |  | $ | 47,695 |  |  | $ | — |  |  | $ | 181,319 |
Vimeo | (25,502 | ) |  | $ | — |  |  | $ | 947 |  |  | $ | 4,911 |  |  | $ | — |  |  | $ | (19,644 | )
Dotdash | 6,946 |  |  | $ | — |  |  | $ | 741 |  |  | $ | 1,227 |  |  | $ | — |  |  | $ | 8,914 |
Applications | 91,579 |  |  | $ | — |  |  | $ | 2,145 |  |  | $ | 3,421 |  |  | $ | — |  |  | $ | 97,145 |
Emerging & Other | 23,465 |  |  | $ | 1,747 |  |  | $ | 1,396 |  |  | $ | 2,125 |  |  | $ | — |  |  | $ | 28,733 |
Corporate | (113,583 | ) |  | $ | 51,016 |  |  | $ | 8,529 |  |  | $ | — |  |  | $ | — |  |  | $ | (54,038 | )
Operating income | 431,219 |  |  |  |  |  |  |  |  |  |  |
Interest expense | (81,471 | ) |  |  |  |  |  |  |  |  |  |
Other income, net | 174,635 |  |  |  |  |  |  |  |  |  |  |
Earnings before income taxes | 524,383 |  |  |  |  |  |  |  |  |  |  |
Income tax benefit | 15,887 |  |  |  |  |  |  |  |  |  |  |
Net earnings | 540,270 |  |  |  |  |  |  |  |  |  |  |
Net earnings attributable to noncontrolling interests | (105,061 | ) |  |  |  |  |  |  |  |  |  |
Net earnings attributable to IAC shareholders | $ | 435,209 |  |  |  |  |  |  |  |  |  |  |

X
- Definition Tabular reconciliation of operating (loss) income for the Company’s reportable segments and net (loss) earnings attributable to shareholders to Adjusted EBITDA + References No definition available. + Details
Name: | iac_ReconciliationofOperatingIncometoAdjustedEBITDATableTextBlock
Namespace Prefix: | iac_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration