XML 25 R11.htm IDEA: XBRL DOCUMENT
v3.20.2

DISCONTINUED OPERATIONS | 6 Months Ended
--- | ---
Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract] |
DISCONTINUED OPERATIONS | NOTE 3—DISCONTINUED OPERATIONS On June 30, 2020, as part of the Separation described in “Note 1—The Company and Summary of Significant Accounting Policies,” the operations of Former IAC businesses other than Match Group are presented as discontinued operations. The components of assets and liabilities of discontinued operations in the accompanying consolidated balance sheet at December 31, 2019 consisted of the following:
| December 31, 2019
| (In thousands)
Cash and cash equivalents | $ | 2,673,619 |
Marketable securities | 19,993 |
Accounts receivable, net | 181,875 |
Other current assets | 152,592 |
Total current assets in discontinued operations | $ | 3,028,079 |
Property and equipment, net | $ | 270,288 |
Goodwill | 1,614,623 |
Intangible assets, net | 350,150 |
Long-term investments | 347,976 |
Other non-current assets | 247,746 |
Total non-current assets in discontinued operations | $ | 2,830,783 |
Current portion of long-term debt | $ | 13,750 |
Accounts payable, trade | 74,166 |
Deferred revenue | 178,647 |
Accrued expenses and other current liabilities | 322,333 |
Total current liabilities in discontinued operations | $ | 588,896 |
Long-term debt, net | $ | 231,946 |
Income taxes payable | 6,410 |
Deferred income taxes | 28,751 |
Other long-term liabilities | 180,307 |
Total long-term liabilities in discontinued operations | $ | 447,414 |
The key components of loss from discontinued operations for the three and six months ended June 30, 2020 and 2019 consist of the following:
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
| 2020 |  | 2019 |  | 2020 |  | 2019
| (In thousands) |  |  |  |  |  |
Revenue | $ | 726,361 |  |  | $ | 688,684 |  |  | $ | 1,410,485 |  |  | $ | 1,329,903 |
Operating costs and expenses | (840,902) |  |  | (705,683) |  |  | (1,840,178) |  |  | (1,384,589) |
Operating loss | (114,541) |  |  | (16,999) |  |  | (429,693) |  |  | (54,686) |
Interest expense | (1,555) |  |  | (3,661) |  |  | (3,772) |  |  | (7,352) |
Other income (expense) | 51,244 |  |  | 43,435 |  |  | (2,503) |  |  | 45,573 |
Income tax benefit | 30,241 |  |  | 4,790 |  |  | 69,390 |  |  | 39,333 |
(Loss) earnings from discontinued operations | (34,611) |  |  | 27,565 |  |  | (366,578) |  |  | 22,868 |

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

X
- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration