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FINANCIAL STATEMENT DETAILS
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
FINANCIAL STATEMENT DETAILS FINANCIAL STATEMENT DETAILS
Cash and Cash Equivalents and Restricted Cash
The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the balance sheet to the total amounts shown in the statement of cash flows:
December 31, 2024December 31, 2023December 31, 2022December 31, 2021
(In thousands)
Cash and cash equivalents$1,381,736 $933,401 $1,096,235 $1,690,594 
Restricted cash included in other current assets8,974 8,539 1,058 1,785 
Restricted cash included in other non-current assets— — 6,640 — 
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations416,434 364,044 321,262 428,292 
Restricted cash included in other non-current assets of discontinued operations111 257 874 1,193 
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows$1,807,255 $1,306,241 $1,426,069 $2,121,864 
Restricted cash included in “Other current assets” in the balance sheet at December 31, 2024 and December 31, 2023 primarily consist of cash held in escrow related to the funded pension plan in the U.K. and cash held related to insurance programs at Care.com.
Restricted cash included in “Other current assets” in the balance sheet at December 31, 2022 primarily consists of cash held related to insurance programs at Care.com. Restricted cash included in “Other non-current assets” in the balance sheet at December 31, 2022 primarily consists of cash held in escrow related to the funded pension plan in the U.K. as well as deposits related to leases.
Restricted cash included in “Other current assets” in the balance sheet at December 31, 2021 primarily consists of cash held in escrow related to the funded pension plan in the U.K. Restricted cash included in “Other non-current assets” in the balance sheet at December 31, 2021 consists of deposits related to leases.
Credit Losses
The following table presents the changes in the allowance for credit losses:
Year Ended December 31,
20242023
(In thousands)
Balance at January 1$7,695 $7,811 
Current period provision for credit losses4,688 5,699 
Write-offs charged against the allowance(5,178)(5,944)
Recoveries collected46 125 
Other158 4 
Balance at December 31$7,409 $7,695 
Other current assets
 December 31,
 20242023
 (In thousands)
Prepaid expenses$38,725 $69,634 
Other86,483 116,894 
Other current assets$125,208 $186,528 

Buildings, land, equipment, leasehold improvements and capitalized software, net
 December 31,
 20242023
 (In thousands)
Buildings$165,700 $160,567 
Equipment (including furniture)126,656 141,669 
Leasehold improvements78,130 81,133 
Capitalized software28,919 33,321 
Land86,045 86,032 
Projects in progress5,839 1,931 
Total gross carrying amount491,289 504,653 
Accumulated depreciation and amortization(178,092)(158,899)
Buildings, land, equipment, leasehold improvements and capitalized software, net$313,197 $345,754 
Accrued expenses and other current liabilities
 December 31,
 20242023
 (In thousands)
Accrued employee compensation and benefits$152,977 $131,863 
Customer deposit liability118,464 118,522 
Accrued advertising expense31,066 30,407 
Other206,792 213,134 
Accrued expenses and other current liabilities$509,299 $493,926 

Other income (expense), net
 Year Ended December 31,
 202420232022
 (In thousands)
Interest income$66,913 $53,956 $20,379 
Unrealized increase (decrease) in the estimated fair value of a warrant20,393 2,832 (62,495)
Net realized gain (loss) on sales of businesses and investments and (downward) upward adjustments to the carrying value of equity securities without readily determinable fair values(a)(b)(c)
10,373 (17,988)59,299 
Net periodic pension benefit credit (costs), other than the service cost component(d)
5,656 139 (206,422)
Unrealized gain (loss) related to marketable equity securities121 (145)(20,342)
Dotdash Meredith Credit Agreement amendment fees(e)
(3,453)— — 
Foreign exchange (losses) gains, net(1,908)290 (5,139)
Other441 7,555 (4,243)
Other income (expense), net$98,536 $46,639 $(218,963)
_____________________
(a) Includes downward and upward adjustments to the carrying value of equity securities without readily determinable fair values. For the years ended December 31, 2024, 2023 and 2022, the Company recorded net downward adjustments of $32.3 million, $20.2 million and $89.1 million, respectively.
(b)    Includes a pre-tax gain of $29.2 million on the sale of assets of Mosaic Group, which was included within Emerging & Other, and was accounted for as a sale of a business, in the year ended December 31, 2024.

(c)    Includes a gain of approximately $132.2 million on the sale of Bluecrew in the year ended December 31, 2022. On November 9, 2022, the Company completed the sale of Bluecrew, which was included within Emerging & Other, to EmployBridge, a provider of light industrial staffing solutions, for cash and stock with the Company becoming a minority shareholder in the combined company.
(d)    Includes pre-tax actuarial gains (losses) of $6.0 million, $1.7 million and $(213.4) million for the years ended December 31, 2024, 2023 and 2022, respectively, related to the pension plans in the U.S. and U.K. See “Note 11—Pension and Post-Retirement Benefit Plans” for additional information.
(e)    Relates to third-party fees in connection with the Amended Dotdash Meredith Credit Agreement entered into on November 26, 2024. See “Note 6—Long-term debt” for additional information.
Supplemental Disclosure of Cash Flow Information:

 Year Ended December 31,
 202420232022
 (In thousands)
Cash (paid) received during the year for:   
Interest, net(f)
$(131,235)$(136,797)$(78,775)
Income tax payments$(14,876)$(13,825)$(14,856)
Income tax refunds$2,826 $1,386 $2,609 
(f)     Includes receipts of $5.0 million and $3.2 million related to the interest rate swaps for the years ended December 31, 2024 and 2023, respectively. See “Note 2—Summary of Significant Accounting Policies” and “Note 6—Long-term Debt” for additional information.