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SEGMENT INFORMATION | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The overall concept that the Company employs in determining its operating segments is to present the financial information in a manner consistent with the chief operating decision maker's view of the businesses. In addition, we consider how the businesses are organized as to segment management and the focus of the businesses with regards to the types of services or products offered or the target market. Operating segments are combined for reporting purposes if they meet certain aggregation criteria, such as the Search segment, which principally relate to the similarity of their economic characteristics, or, in the case of the Emerging & Other reportable segment, do not meet the quantitative thresholds that require presentation as separate reportable segments. The following table presents revenue by reportable segment:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In thousands)
Revenue |  |  |  |  |  |  |
Dotdash Meredith |  |  |  |  |  |  |
Digital | $ | 211,972 |  |  | $ | 234,510 |  |  | $ | 396,769 |  |  | $ | 450,675 |
Print | 206,771 |  |  | 260,307 |  |  | 413,787 |  |  | 550,285 |
Intersegment eliminations(a) | (4,745) |  |  | (5,293) |  |  | (8,976) |  |  | (10,965) |
Total Dotdash Meredith | 413,998 |  |  | 489,524 |  |  | 801,580 |  |  | 989,995 |
Angi Inc. |  |  |  |  |  |  |
Domestic: |  |  |  |  |  |  |
Ads and Leads | 292,487 |  |  | 341,862 |  |  | 585,993 |  |  | 636,608 |
Services | 29,867 |  |  | 108,232 |  |  | 61,926 |  |  | 184,682 |
Roofing | 24,482 |  |  | 42,650 |  |  | 62,854 |  |  | 79,337 |
Domestic intersegment eliminations(b) | (1,001) |  |  | (1,950) |  |  | (2,463) |  |  | (3,627) |
Total Domestic | 345,835 |  |  | 490,794 |  |  | 708,310 |  |  | 897,000 |
International | 29,233 |  |  | 24,988 |  |  | 59,165 |  |  | 54,941 |
Total Angi Inc. | 375,068 |  |  | 515,782 |  |  | 767,475 |  |  | 951,941 |
Search | 177,036 |  |  | 198,183 |  |  | 329,511 |  |  | 421,568 |
Emerging & Other | 147,903 |  |  | 161,089 |  |  | 301,934 |  |  | 328,083 |
Intersegment eliminations | (2,416) |  |  | (1,997) |  |  | (4,640) |  |  | (3,661) |
Total | $ | 1,111,589 |  |  | $ | 1,362,581 |  |  | $ | 2,195,860 |  |  | $ | 2,687,926 |
The following table presents the revenue of the Company's segments disaggregated by type of service:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In thousands)
Dotdash Meredith |  |  |  |  |  |  |
Digital: |  |  |  |  |  |  |
Advertising revenue | $ | 132,247 |  |  | $ | 157,551 |  |  | $ | 244,064 |  |  | $ | 294,641 |
Performance marketing revenue | 53,510 |  |  | 47,933 |  |  | 103,565 |  |  | 98,038 |
Licensing and other revenue | 26,215 |  |  | 29,026 |  |  | 49,140 |  |  | 57,996 |
Total digital revenue | 211,972 |  |  | 234,510 |  |  | 396,769 |  |  | 450,675 |
Print: |  |  |  |  |  |  |
Subscription revenue | 76,032 |  |  | 107,679 |  |  | 161,669 |  |  | 238,263 |
Advertising revenue | 57,487 |  |  | 71,266 |  |  | 105,337 |  |  | 143,953 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In thousands)
Project and other revenue | 35,566 |  |  | 42,254 |  |  | 63,675 |  |  | 75,279 |
Newsstand revenue | 27,174 |  |  | 35,596 |  |  | 59,420 |  |  | 66,835 |
Performance marketing revenue | 10,512 |  |  | 3,512 |  |  | 23,686 |  |  | 25,955 |
Total print revenue | 206,771 |  |  | 260,307 |  |  | 413,787 |  |  | 550,285 |
Intersegment eliminations(a) | (4,745) |  |  | (5,293) |  |  | (8,976) |  |  | (10,965) |
Total Dotdash Meredith revenue | $ | 413,998 |  |  | $ | 489,524 |  |  | $ | 801,580 |  |  | $ | 989,995 |
(a) Intersegment eliminations primarily related to Digital performance marketing commissions earned for the placement of magazine subscriptions for Print.
Angi Inc. |  |  |  |  |  |  |
Domestic: |  |  |  |  |  |  |
Ads and Leads: |  |  |  |  |  |  |
Consumer connection revenue | $ | 209,013 |  |  | $ | 260,896 |  |  | $ | 421,948 |  |  | $ | 475,243 |
Advertising revenue | 70,047 |  |  | 65,189 |  |  | 137,228 |  |  | 129,091 |
Membership subscription revenue | 13,231 |  |  | 15,554 |  |  | 26,430 |  |  | 31,791 |
Other revenue | 196 |  |  | 223 |  |  | 387 |  |  | 483 |
Total Ads and Leads revenue | 292,487 |  |  | 341,862 |  |  | 585,993 |  |  | 636,608 |
Services revenue | 29,867 |  |  | 108,232 |  |  | 61,926 |  |  | 184,682 |
Roofing revenue | 24,482 |  |  | 42,650 |  |  | 62,854 |  |  | 79,337 |
Domestic intersegment eliminations(b) | (1,001) |  |  | (1,950) |  |  | (2,463) |  |  | (3,627) |
Total Domestic revenue | 345,835 |  |  | 490,794 |  |  | 708,310 |  |  | 897,000 |
International: |  |  |  |  |  |  |
Consumer connection revenue | 23,371 |  |  | 16,941 |  |  | 48,116 |  |  | 38,744 |
Service professional membership subscription revenue | 5,753 |  |  | 7,758 |  |  | 10,811 |  |  | 15,614 |
Advertising and other revenue | 109 |  |  | 289 |  |  | 238 |  |  | 583 |
Total International revenue | 29,233 |  |  | 24,988 |  |  | 59,165 |  |  | 54,941 |
Total Angi Inc. revenue | $ | 375,068 |  |  | $ | 515,782 |  |  | $ | 767,475 |  |  | $ | 951,941 |
(b) Intersegment eliminations related to Ads and Leads revenue earned from sales to Roofing.
Search |  |  |  |  |  |  |
Advertising revenue: |  |  |  |  |  |  |
Google advertising revenue | $ | 166,285 |  |  | $ | 124,846 |  |  | $ | 307,019 |  |  | $ | 274,498 |
Non-Google advertising revenue | 10,097 |  |  | 72,088 |  |  | 21,070 |  |  | 144,077 |
Total advertising revenue | 176,382 |  |  | 196,934 |  |  | 328,089 |  |  | 418,575 |
Other revenue | 654 |  |  | 1,249 |  |  | 1,422 |  |  | 2,993 |
Total Search revenue | $ | 177,036 |  |  | $ | 198,183 |  |  | $ | 329,511 |  |  | $ | 421,568 |
Emerging & Other |  |  |  |  |  |  |
Subscription revenue | $ | 85,919 |  |  | $ | 92,770 |  |  | $ | 172,319 |  |  | $ | 187,317 |
Marketplace revenue | 50,248 |  |  | 62,617 |  |  | 108,667 |  |  | 128,734 |
Media production and distribution revenue | 7,110 |  |  | 58 |  |  | 10,725 |  |  | 604 |
Advertising revenue: |  |  |  |  |  |  |
Non-Google advertising revenue | 3,458 |  |  | 3,940 |  |  | 6,357 |  |  | 7,663 |
Google advertising revenue | 272 |  |  | 516 |  |  | 535 |  |  | 1,124 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In thousands)
Total advertising revenue | 3,730 |  |  | 4,456 |  |  | 6,892 |  |  | 8,787 |
Service and other revenue | 896 |  |  | 1,188 |  |  | 3,331 |  |  | 2,641 |
Total Emerging & Other revenue | $ | 147,903 |  |  | $ | 161,089 |  |  | $ | 301,934 |  |  | $ | 328,083 |
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 June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In thousands)
Revenue: |  |  |  |  |  |  |
United States | $ | 991,677 |  |  | $ | 1,270,088 |  |  | $ | 1,966,105 |  |  | $ | 2,474,436 |
All other countries | 119,912 |  |  | 92,493 |  |  | 229,755 |  |  | 213,490 |
Total | $ | 1,111,589 |  |  | $ | 1,362,581 |  |  | $ | 2,195,860 |  |  | $ | 2,687,926 |
| June 30, 2023 |  | December 31, 2022
| (In thousands)
Long-lived assets (excluding goodwill, intangible assets and ROU assets): |  |  |
United States | $ | 488,722 |  |  | $ | 502,977 |
All other countries | 5,905 |  |  | 7,637 |
Total | $ | 494,627 |  |  | $ | 510,614 |
The following tables present operating income (loss) and Adjusted EBITDA by reportable segment:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In thousands)
Operating income (loss): |  |  |  |  |  |  |
Dotdash Meredith |  |  |  |  |  |  |
Digital | $ | 6,059 |  |  | $ | 11,096 |  |  | $ | (11,828) |  |  | $ | 9,228 |
Print | (944) |  |  | (20,099) |  |  | (6,700) |  |  | (58,434) |
Other(c)(d) | (22,935) |  |  | (18,504) |  |  | (110,526) |  |  | (34,546) |
Total Dotdash Meredith(e) | (17,820) |  |  | (27,507) |  |  | (129,054) |  |  | (83,752) |
Angi Inc. |  |  |  |  |  |  |
Ads and Leads | 4,791 |  |  | 23,292 |  |  | 18,271 |  |  | 38,778 |
Services | (5,175) |  |  | (21,051) |  |  | (17,627) |  |  | (46,801) |
Roofing | (1,302) |  |  | (3,789) |  |  | (891) |  |  | (9,939) |
Other(c) | (16,568) |  |  | (18,091) |  |  | (31,507) |  |  | (31,113) |
International | 1,571 |  |  | (1,247) |  |  | 4,601 |  |  | (5,768) |
Total Angi Inc. | (16,683) |  |  | (20,886) |  |  | (27,153) |  |  | (54,843) |
Search | 13,961 |  |  | 26,297 |  |  | 24,731 |  |  | 51,376 |
Emerging & Other | 3,353 |  |  | (107,781) |  |  | 14,798 |  |  | (112,825) |
Corporate | (38,284) |  |  | (36,263) |  |  | (74,391) |  |  | (74,910) |
Total | $ | (55,473) |  |  | $ | (166,140) |  |  | $ | (191,069) |  |  | $ | (274,954) |
_____________________ (c) Other comprises unallocated corporate expenses. (d) Includes write-off of certain leasehold improvements and furniture and equipment of $4.2 million for the three and six months ended June 30, 2023 and impairment charges of $70.0 million related to unoccupied leased office space for the six months ended June 30, 2023, of which $4.2 million and $29.6 million is included in "Depreciation" in the statement of operations for the three and six months ended June 30, 2023, respectively. See "Note 3—Financial Instruments and Fair Value Measurements" for additional information on the impairment charges. (e) Dotdash Meredith incurred restructuring charges of $13.7 million and $36.1 million and transaction-related expenses of $1.2 million and $5.2 million in connection with the acquisition of Meredith in the three and six months ended June 30, 2022, respectively. See "Note 2—Dotdash Meredith Restructuring Charges and Transaction-Related Expenses" for additional information.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In thousands)
Adjusted EBITDA(f): |  |  |  |  |  |  |
Dotdash Meredith(e) |  |  |  |  |  |  |
Digital | $ | 50,834 |  |  | $ | 51,316 |  |  | $ | 75,237 |  |  | $ | 86,116 |
Print | $ | 17,410 |  |  | $ | 6,265 |  |  | $ | 28,744 |  |  | $ | (4,215) |
Other(c)(g) | $ | (14,152) |  |  | $ | (18,414) |  |  | $ | (73,006) |  |  | $ | (34,200) |
Angi Inc. |  |  |  |  |  |  |
Ads and Leads | $ | 28,155 |  |  | $ | 42,164 |  |  | $ | 68,006 |  |  | $ | 76,489 |
Services | $ | 1,700 |  |  | $ | (13,913) |  |  | $ | (468) |  |  | $ | (32,480) |
Roofing | $ | (1,294) |  |  | $ | (3,090) |  |  | $ | (473) |  |  | $ | (8,116) |
Other(c) | $ | (13,109) |  |  | $ | (15,102) |  |  | $ | (25,463) |  |  | $ | (25,552) |
International | $ | 2,837 |  |  | $ | (370) |  |  | $ | 7,191 |  |  | $ | (3,821) |
Search | $ | 13,982 |  |  | $ | 26,317 |  |  | $ | 24,773 |  |  | $ | 51,417 |
Emerging & Other | $ | 6,309 |  |  | $ | (17,060) |  |  | $ | 21,087 |  |  | $ | (16,144) |
Corporate | $ | (22,486) |  |  | $ | (20,716) |  |  | $ | (46,319) |  |  | $ | (44,410) |
_____________________ (f) The Company's primary financial measure and GAAP segment 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. (g) Includes impairment charges of $44.7 million related to unoccupied leased office space for the six months ended June 30, 2023. See "Note 3—Financial Instruments and Fair Value Measurements" for additional information. The following tables reconcile operating income (loss) for the Company's reportable segments and net (loss) earnings attributable to IAC shareholders to Adjusted EBITDA:
| Three Months Ended June 30, 2023
| Operating Income (Loss)(d) |  | Stock-based Compensation Expense |  | Depreciation(d) |  | Amortization of Intangibles |  |  |  |  |  | Adjusted EBITDA(f)
| (In thousands)
Dotdash Meredith |  |  |  |  |  |  |  |  |  |  |  |  |
Digital | $ | 6,059 |  |  | $ | 2,092 |  |  | $ | 7,332 |  |  | $ | 35,351 |  |  |  |  |  |  | $ | 50,834 |
Print | (944) |  |  | $ | 376 |  |  | $ | 3,855 |  |  | $ | 14,123 |  |  |  |  |  |  | $ | 17,410 |
Other(c) | (22,935) |  |  | $ | 3,102 |  |  | $ | 5,681 |  |  | $ | — |  |  |  |  |  |  | $ | (14,152) |
Angi Inc. |  |  |  |  |  |  |  |  |  |  |  |  |
Ads and Leads | 4,791 |  |  | $ | 5,307 |  |  | $ | 15,394 |  |  | $ | 2,663 |  |  |  |  |  |  | $ | 28,155 |
Services | (5,175) |  |  | $ | 1,192 |  |  | $ | 5,683 |  |  | $ | — |  |  |  |  |  |  | $ | 1,700 |
Roofing | (1,302) |  |  | $ | (167) |  |  | $ | 175 |  |  | $ | — |  |  |  |  |  |  | $ | (1,294) |
Other(c) | (16,568) |  |  | $ | 3,459 |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | (13,109) |
International | 1,571 |  |  | $ | 339 |  |  | $ | 927 |  |  | $ | — |  |  |  |  |  |  | $ | 2,837 |
Search | 13,961 |  |  | $ | — |  |  | $ | 21 |  |  | $ | — |  |  |  |  |  |  | $ | 13,982 |
Emerging & Other | 3,353 |  |  | $ | 355 |  |  | $ | 555 |  |  | $ | 2,046 |  |  |  |  |  |  | $ | 6,309 |
Corporate(h) | (38,284) |  |  | $ | 14,138 |  |  | $ | 1,660 |  |  | $ | — |  |  |  |  |  |  | $ | (22,486) |
Total | (55,473) |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense | (39,077) |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized loss on investment in MGM Resorts International | (32,362) |  |  |  |  |  |  |  |  |  |  |  |  |
Other income, net | 10,985 |  |  |  |  |  |  |  |  |  |  |  |  |
Loss before income taxes | (115,927) |  |  |  |  |  |  |  |  |  |  |  |  |
Income tax benefit | 24,297 |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss | (91,630) |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss attributable to noncontrolling interests | 2,585 |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss attributable to IAC shareholders | $ | (89,045) |  |  |  |  |  |  |  |  |  |  |  |  |
_____________________ (h) Includes stock-based compensation expense for stock-based awards granted to employees of Corporate, Search and all Emerging & Other businesses other than Vivian Health.
| Three Months Ended June 30, 2022
| Operating Income (Loss)(e) |  | Stock-based Compensation Expense |  | Depreciation |  | Amortization of Intangibles |  |  |  | Goodwill Impairment |  | Adjusted EBITDA(e)(f)
| (In thousands)
Dotdash Meredith |  |  |  |  |  |  |  |  |  |  |  |  |
Digital | $ | 11,096 |  |  | $ | 4,879 |  |  | $ | 8,203 |  |  | $ | 27,138 |  |  |  |  | $ | — |  |  | $ | 51,316 |
Print | (20,099) |  |  | $ | 204 |  |  | $ | 4,632 |  |  | $ | 21,528 |  |  |  |  | $ | — |  |  | $ | 6,265 |
Other(c) | (18,504) |  |  | $ | 27 |  |  | $ | 63 |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | (18,414) |
Angi Inc. |  |  |  |  |  |  |  |  |  |  |  |  |
Ads and Leads | 23,292 |  |  | $ | 5,404 |  |  | $ | 10,805 |  |  | $ | 2,663 |  |  |  |  | $ | — |  |  | $ | 42,164 |
Services | (21,051) |  |  | $ | 4,513 |  |  | $ | 1,650 |  |  | $ | 975 |  |  |  |  | $ | — |  |  | $ | (13,913) |
Roofing | (3,789) |  |  | $ | 385 |  |  | $ | 148 |  |  | $ | 166 |  |  |  |  | $ | — |  |  | $ | (3,090) |
Other(c) | (18,091) |  |  | $ | 2,989 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | (15,102) |
International | (1,247) |  |  | $ | 126 |  |  | $ | 751 |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | (370) |
Search | 26,297 |  |  | $ | — |  |  | $ | 20 |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | 26,317 |
Emerging & Other | (107,781) |  |  | $ | 83 |  |  | $ | 279 |  |  | $ | 3,611 |  |  |  |  | $ | 86,748 |  |  | $ | (17,060) |
Corporate(h) | (36,263) |  |  | $ | 13,046 |  |  | $ | 2,501 |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | (20,716) |
Total | (166,140) |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense | (23,517) |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized loss on investment in MGM Resorts International | (825,305) |  |  |  |  |  |  |  |  |  |  |  |  |
Other expense, net | (89,425) |  |  |  |  |  |  |  |  |  |  |  |  |
Loss before income taxes | (1,104,387) |  |  |  |  |  |  |  |  |  |  |  |  |
Income tax benefit | 228,988 |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss | (875,399) |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss attributable to noncontrolling interests | 6,269 |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss attributable to IAC shareholders | $ | (869,130) |  |  |  |  |  |  |  |  |  |  |  |  |
| Six Months Ended June 30, 2023
| Operating (Loss) Income(d) |  | Stock-based Compensation Expense |  | Depreciation(d) |  | Amortization of Intangibles |  |  |  |  |  | Adjusted EBITDA(f)(g)
| (In thousands)
Dotdash Meredith |  |  |  |  |  |  |  |  |  |  |  |  |
Digital | $ | (11,828) |  |  | $ | 3,787 |  |  | $ | 12,576 |  |  | $ | 70,702 |  |  |  |  |  |  | $ | 75,237 |
Print | (6,700) |  |  | $ | 522 |  |  | $ | 6,490 |  |  | $ | 28,432 |  |  |  |  |  |  | $ | 28,744 |
Other(c) | (110,526) |  |  | $ | 6,352 |  |  | $ | 31,168 |  |  | $ | — |  |  |  |  |  |  | $ | (73,006) |
Angi Inc. |  |  |  |  |  |  |  |  |  |  |  |  |
Ads and Leads | 18,271 |  |  | $ | 10,798 |  |  | $ | 33,612 |  |  | $ | 5,325 |  |  |  |  |  |  | $ | 68,006 |
Services | (17,627) |  |  | $ | 5,401 |  |  | $ | 11,758 |  |  | $ | — |  |  |  |  |  |  | $ | (468) |
Roofing | (891) |  |  | $ | (2) |  |  | $ | 420 |  |  | $ | — |  |  |  |  |  |  | $ | (473) |
Other(c) | (31,507) |  |  | $ | 6,044 |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | (25,463) |
International | 4,601 |  |  | $ | 766 |  |  | $ | 1,824 |  |  | $ | — |  |  |  |  |  |  | $ | 7,191 |
Search | 24,731 |  |  | $ | — |  |  | $ | 42 |  |  | $ | — |  |  |  |  |  |  | $ | 24,773 |
Emerging & Other | 14,798 |  |  | $ | 707 |  |  | $ | 1,252 |  |  | $ | 4,330 |  |  |  |  |  |  | $ | 21,087 |
Corporate(h) | (74,391) |  |  | $ | 24,759 |  |  | $ | 3,313 |  |  | $ | — |  |  |  |  |  |  | $ | (46,319) |
Total | (191,069) |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense | (77,249) |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized gain on investment in MGM Resorts International | 672,478 |  |  |  |  |  |  |  |  |  |  |  |  |
Other income, net | 34,734 |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings before income taxes | 438,894 |  |  |  |  |  |  |  |  |  |  |  |  |
Income tax provision | (115,205) |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings | 323,689 |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss attributable to noncontrolling interests | 5,041 |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings attributable to IAC shareholders | $ | 328,730 |  |  |  |  |  |  |  |  |  |  |  |  |
| Six Months Ended June 30, 2022
| Operating Income (Loss)(e) |  | Stock-based Compensation Expense |  | Depreciation |  | Amortization of Intangibles |  | Acquisition-related Contingent Consideration Fair Value Adjustments |  | Goodwill Impairment |  | Adjusted EBITDA(e)(f)
| (In thousands)
Dotdash Meredith |  |  |  |  |  |  |  |  |  |  |  |  |
Digital | $ | 9,228 |  |  | $ | 9,075 |  |  | $ | 15,692 |  |  | $ | 52,733 |  |  | $ | (612) |  |  | $ | — |  |  | $ | 86,116 |
Print | (58,434) |  |  | $ | 268 |  |  | $ | 10,164 |  |  | $ | 43,787 |  |  | $ | — |  |  | $ | — |  |  | $ | (4,215) |
Other(c) | (34,546) |  |  | $ | 39 |  |  | $ | 307 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (34,200) |
Angi Inc. |  |  |  |  |  |  |  |  |  |  |  |  |
Ads and Leads | 38,778 |  |  | $ | 10,324 |  |  | $ | 22,062 |  |  | $ | 5,325 |  |  | $ | — |  |  | $ | — |  |  | $ | 76,489 |
Services | (46,801) |  |  | $ | 9,053 |  |  | $ | 3,318 |  |  | $ | 1,950 |  |  | $ | — |  |  | $ | — |  |  | $ | (32,480) |
Roofing | (9,939) |  |  | $ | 1,215 |  |  | $ | 275 |  |  | $ | 333 |  |  | $ | — |  |  | $ | — |  |  | $ | (8,116) |
Other(c) | (31,113) |  |  | $ | 5,561 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (25,552) |
International | (5,768) |  |  | $ | 249 |  |  | $ | 1,698 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (3,821) |
Search | 51,376 |  |  | $ | — |  |  | $ | 41 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 51,417 |
Emerging & Other | (112,825) |  |  | $ | 108 |  |  | $ | 682 |  |  | $ | 9,143 |  |  | $ | — |  |  | $ | 86,748 |  |  | $ | (16,144) |
Corporate(h) | (74,910) |  |  | $ | 25,451 |  |  | $ | 5,049 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (44,410) |
Total | (274,954) |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense | (45,429) |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized loss on investment in MGM Resorts International | (1,012,635) |  |  |  |  |  |  |  |  |  |  |  |  |
Other expense, net | (82,726) |  |  |  |  |  |  |  |  |  |  |  |  |
Loss before income taxes | (1,415,744) |  |  |  |  |  |  |  |  |  |  |  |  |
Income tax benefit | 299,452 |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss | (1,116,292) |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss attributable to noncontrolling interests | 11,364 |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss attributable to IAC shareholders | $ | (1,104,928) |  |  |  |  |  |  |  |  |  |  |  |  |

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