XML 21 R8.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net earnings (loss) $ 323,689 $ (1,116,292)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:    
Unrealized (gain) loss on investment in MGM Resorts International (672,478) 1,012,635
(Gains) losses on investments in equity securities and sales of businesses, net (1,460) 14,440
Amortization of intangibles 108,789 113,271
Depreciation 102,455 59,288
Deferred income taxes 101,451 (306,428)
Non-cash lease expense (including right-of-use asset impairments) 72,506 28,802
Stock-based compensation expense 59,134 61,343
Provision for credit losses 48,608 51,710
Unrealized decrease (increase) in the estimated fair value of a warrant 7,731 (12,851)
Pension and postretirement benefit expense 636 79,080
Goodwill impairment 0 86,748
Other adjustments, net (7,838) 13,016
Changes in assets and liabilities, net of effects of acquisitions and dispositions:    
Accounts receivable 30,325 (195)
Other assets 45,688 2,532
Operating lease liabilities (39,576) (32,059)
Accounts payable and other liabilities (57,504) (72,958)
Income taxes payable and receivable 2,453 (32)
Deferred revenue 3,645 10,045
Net cash provided by (used in) operating activities 128,254 (7,905)
Cash flows from investing activities:    
Capital expenditures (108,107) (73,641)
Proceeds from sales of assets 28,890 164
Proceeds from maturities of marketable debt securities 325,000 0
Purchases of marketable debt securities (197,017) 0
Purchases of investments (103,555) (1,036)
Net proceeds from the sales of businesses and investments 3,491 27,871
Purchases of investment in MGM Resorts International 0 (202,500)
Decrease in notes receivable 14,197 19,111
Other, net 9,901 4,766
Net cash used in investing activities (27,200) (225,265)
Cash flows from financing activities:    
Principal payments on Dotdash Meredith Term Loans (15,000) (15,000)
Debt issuance costs 0 (785)
Proceeds from the issuance of Vivian Health preferred shares, net of fees 0 34,700
Purchase of noncontrolling interests 0 (1,179)
Other, net 41 5,160
Net cash used in financing activities (193,352) (63,792)
Total cash used (92,298) (296,962)
Effect of exchange rate changes on cash and cash equivalents and restricted cash 1,724 (4,201)
Net decrease in cash and cash equivalents and restricted cash (90,574) (301,163)
Cash and cash equivalents and restricted cash at beginning of period 1,426,069 2,121,864
Cash and cash equivalents and restricted cash at end of period 1,335,495 1,820,701
IAC employees    
Cash flows from financing activities:    
Withholding taxes paid on behalf of employees on net settled stock-based awards (5,250) (15,952)
Angi Inc. employees    
Cash flows from financing activities:    
Withholding taxes paid on behalf of employees on net settled stock-based awards (4,124) (3,513)
IAC    
Cash flows from financing activities:    
Purchases of treasury stock (165,622) (59,079)
Angi Inc.    
Cash flows from financing activities:    
Purchases of treasury stock $ (3,397) $ (8,144)