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LOSS PER SHARE
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
LOSS PER SHARE
NOTE 8—LOSS PER SHARE
The Company treats its common stock and Class B common stock as one class of stock for net earnings (loss) per share (“EPS”) purposes as both classes of stock participate in earnings, dividends and other distributions on the same basis.
On January 13, 2025, the restricted common stock award of 3.0 million shares (“restricted shares”) previously issued to our former CEO on November 5, 2020 (such award, the “Restricted Stock Award”), which was a participating security, was forfeited by our former CEO pursuant to the Employment Transition Agreement. The Company calculated basic EPS using the two-class method prior to the restricted shares being forfeited because those restricted shares were unvested and had a non-forfeitable dividend right in the event the Company declared a cash dividend on its common shares and would have participated in all other distributions of the Company in the same manner as all other IAC common shares. Diluted EPS is calculated on the most dilutive basis, which excludes stock-based awards that would be anti-dilutive, including prior to its forfeiture the restricted stock award previously granted to our former CEO.
Basic EPS is computed by dividing net earnings (loss) attributable to holders of IAC common stock and Class B common stock by the weighted-average number of shares of common stock and Class B common stock outstanding during the period. If more dilutive, while the restricted shares were outstanding, undistributed earnings allocated to the participating security was subtracted from earnings in determining earnings attributable to holders of IAC common stock and Class B common stock for basic EPS.
Diluted EPS is computed by dividing net earnings (loss) attributable to holders of IAC common stock and Class B common stock by the weighted-average number of common stock and Class B common stock outstanding plus dilutive securities during the period. If more dilutive, while the restricted shares were outstanding, diluted EPS was adjusted for the reallocation of undistributed earnings allocated to the participating security in determining earnings attributable to holders of IAC common stock and Class B common stock for diluted EPS.
The numerator and denominator of basic and diluted EPS computations for the Company’s common stock and Class B common stock are calculated as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
(In thousands, except per share data)
Basic EPS:
Numerator:
Net loss from continuing operations$(21,737)$(276,229)$(40,985)$(371,477)
Net (earnings) loss attributable to noncontrolling interests of continuing operations(142)(831)688 (573)
Net earnings attributed to unvested participating security— — — — 
Net loss from continuing operations attributable to IAC common stock and Class B common stock shareholders(21,879)(277,060)(40,297)(372,050)
Earnings from discontinued operations, net of tax— 38,784 15,313 37,537 
Net earnings attributable to noncontrolling interests of discontinued operations— (5,443)(2,248)(6,407)
Net earnings attributed to unvested participating security— — — — 
Net earnings from discontinued operations attributable to IAC common stock and Class B common stock shareholders— 33,341 13,065 31,130 
Net loss attributable to IAC common stock and Class B common stock shareholders$(21,879)$(243,719)$(27,232)$(340,920)
Denominator:
Weighted average basic IAC common stock and Class B common stock shares outstanding(a)
79,629 83,178 80,804 83,084 
Loss per share:
Loss per share from continuing operations attributable to IAC common stock and Class B common stock shareholders$(0.27)$(3.33)$(0.50)$(4.48)
Earnings per share from discontinued operations, net of tax, attributable to IAC common stock and Class B common stock shareholders— 0.40 0.16 0.38 
Loss per share attributable to IAC common stock and Class B common stock shareholders$(0.27)$(2.93)$(0.34)$(4.10)
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
(In thousands, except per share data)
Diluted EPS:
Numerator:
Net loss from continuing operations$(21,737)$(276,229)$(40,985)$(371,477)
Net (earnings) loss attributable to noncontrolling interests of continuing operations(142)(831)688 (573)
Net earnings attributed to unvested participating security — — — — 
Net loss from continuing operations attributable to IAC common stock and Class B common stock shareholders(21,879)(277,060)(40,297)(372,050)
Earnings from discontinued operations, net of tax— 38,784 15,313 37,537 
Net earnings attributable to noncontrolling interests of discontinued operations— (5,443)(2,248)(6,407)
Net earnings attributed to unvested participating security— — — — 
Net earnings from discontinued operations attributable to IAC common stock and Class B common stock shareholders— 33,341 13,065 31,130 
Net loss attributable to IAC common stock and Class B common stock shareholders$(21,879)$(243,719)$(27,232)$(340,920)
Denominator:
Weighted average basic IAC common stock and Class B common stock shares outstanding(a)
79,629 83,178 80,804 83,084 
Dilutive securities(b)
— — — — 
Denominator for earnings per share—weighted average shares(b)
79,629 83,178 80,804 83,084 
Loss per share:
Loss per share from continuing operations attributable to IAC common stock and Class B common stock shareholders$(0.27)$(3.33)$(0.50)$(4.48)
Earnings per share from discontinued operations, net of tax, attributable to IAC common stock and Class B common stock shareholders— 0.40 0.16 0.38 
Loss per share attributable to IAC common stock and Class B common stock shareholders$(0.27)$(2.93)$(0.34)$(4.10)
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(a)     On November 5, 2020, IAC’s CEO was granted the Restricted Stock Award. On January 13, 2025, the Restricted Stock Award was forfeited by our former CEO pursuant to the Employment Transition Agreement. The Company calculated basic EPS using the two-class method prior to the restricted shares being forfeited because those restricted shares were unvested and had a non-forfeitable dividend right in the event the Company declared a cash dividend on its common shares and would have participated in all other distributions of the Company in the same manner as all other IAC common shares.
(b)    For all periods presented the Company had losses from continuing operations and as a result for both the three and nine months ended September 30, 2025 and 2024, approximately 3.8 million and 7.8 million, respectively, of potentially dilutive securities were excluded from computing diluted EPS for the periods because the impact would have been anti-dilutive. Accordingly, the weighted average basic shares outstanding were used to compute the diluted EPS amounts.