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QUARTERLY RESULTS (UNAUDITED) | 12 Months Ended
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Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract] |
QUARTERLY RESULTS (UNAUDITED) | NOTE 18—QUARTERLY RESULTS (UNAUDITED)
| Quarter Ended March 31 |  | Quarter Ended June 30 |  | Quarter Ended September 30 |  | Quarter Ended December 31
| (In thousands, except per share data)
Year Ended December 31, 2021 |  |  |  |  |  |  |
Revenue | $ | 667,612 |  |  | $ | 707,760 |  |  | $ | 801,835 |  |  | $ | 806,070 |
Cost of revenue | 179,455 |  |  | 193,099 |  |  | 232,211 |  |  | 234,543 |
Operating income | 189,258 |  |  | 209,914 |  |  | 220,590 |  |  | 231,917 |
Earnings (loss) from continuing operations (b) | 173,848 |  |  | 140,020 |  |  | 130,901 |  |  | (168,724) |
Earnings from discontinued operations | — |  |  | 509 |  |  | — |  |  | — |
Net earnings (loss) attributable to Match Group, Inc. shareholders (d) | 174,250 |  |  | 140,895 |  |  | 131,210 |  |  | (168,632) |
Per share information from continuing operations attributable to the Match Group, Inc. shareholders:
Basic (a) | $ | 0.65 |  |  | $ | 0.52 |  |  | $ | 0.47 |  |  | $ | (0.60) |
Diluted (a) | $ | 0.57 |  |  | $ | 0.46 |  |  | $ | 0.43 |  |  | $ | (0.60) |
Per share information attributable to the Match Group, Inc. shareholders:
Basic (a) | $ | 0.65 |  |  | $ | 0.52 |  |  | $ | 0.47 |  |  | $ | (0.60) |
Diluted (a) | $ | 0.57 |  |  | $ | 0.46 |  |  | $ | 0.43 |  |  | $ | (0.60) |
Year Ended December 31, 2020 |  |  |  |  |  |  |
Revenue | $ | 544,642 |  |  | $ | 555,450 |  |  | $ | 639,770 |  |  | $ | 651,407 |
Cost of revenue | 143,894 |  |  | 148,853 |  |  | 169,823 |  |  | 173,263 |
Operating income | 137,372 |  |  | 195,594 |  |  | 200,167 |  |  | 212,582 |
Earnings from continuing operations (d) | 157,534 |  |  | 141,397 |  |  | 140,113 |  |  | 148,635 |
(Loss) earnings from discontinued operations (c) | (331,967) |  |  | (34,611) |  |  | 508 |  |  | — |
Net (loss) earnings attributable to Match Group, Inc. shareholders (c)(d) | (202,830) |  |  | 74,917 |  |  | 141,207 |  |  | 149,035 |
Per share information from continuing operations attributable to the Match Group, Inc. shareholders:
Basic (a)(d) | $ | 0.69 |  |  | $ | 0.61 |  |  | $ | 0.54 |  |  | $ | 0.56 |
Diluted (a)(d) | $ | 0.61 |  |  | $ | 0.54 |  |  | $ | 0.47 |  |  | $ | 0.50 |
Per share information attributable to the Match Group, Inc. shareholders:
Basic (a)(c) | $ | (1.11) |  |  | $ | 0.41 |  |  | $ | 0.54 |  |  | $ | 0.56 |
Diluted (a)(c) | $ | (1.00) |  |  | $ | 0.36 |  |  | $ | 0.47 |  |  | $ | 0.50 |
______________________ (a)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. (b)Loss from continuing operations for the fourth quarter ended December 31, 2021 includes $441 million related to the former Tinder employee litigation settlement. (c)The operations of Former IAC business other than Match Group are presented as discontinued operations as part of the Separation described in “Note 1—Organization.” (d)The Company early adopted ASU No. 2020-06 as of January 1, 2021 on a fully retrospective basis. The impact of adopting ASU No. 2020-06 on the quarter ended December 31, 2020 is as follows:
| Quarter Ended December 31, 2020
| Prior to the adoption of ASU No. 2020-06 |  | After adoption of ASU No. 2020-06 |  | Effect of adoption of ASU No. 2020-06
| (In thousands, except per share data)
Statement of operations impacts |  |  |  |  |
Interest expense | $ | 43,306 |  |  | $ | 31,970 |  |  | $ | (11,336) |
Income tax provision | $ | (25,617) |  |  | $ | (28,497) |  |  | $ | (2,880) |
Net earnings from continuing operations | $ | 140,179 |  |  | $ | 148,635 |  |  | $ | 8,456 |
Net earnings per share from continuing operations:
Basic | $ | 0.53 |  |  | $ | 0.56 |  |  | $ | 0.03 |
Diluted | $ | 0.48 |  |  | $ | 0.50 |  |  | $ | 0.02 |
Weighted average dilutive shares outstanding | 294,975 |  |  | 307,582 |  |  | 12,607 |

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=124502072&loc=SL124452896-108306 + Details
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