CONSOLIDATED FINANCIAL STATEMENT DETAILS

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

CONSOLIDATED 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 consolidated balance sheet to the total amounts shown in the consolidated statement of cash flows:


	December 31, 2020		December 31, 2019
	(In thousands)
Cash and cash equivalents	$	812,705	$	390,565
Restricted cash included in other current assets	407		504
Restricted cash included in other non-current assets	449		409
Total cash and cash equivalents and restricted cash as shown on the consolidated statement of cash flows	$	813,561	$	391,478

Restricted cash included in other current assets at December 31, 2020 primarily consists of cash received from customers at ANGI through the Handy platform, representing funds collected for payment to service providers, which were not settled as of the period end. Restricted cash included in other current assets at December 31, 2019 primarily consists of a deposit related to corporate credit cards.

Restricted cash included in other non-current assets at December 31, 2020 and 2019 consists of deposits related to leases.


	December 31,
	2020		2019
	(In thousands)
Other current assets:
Capitalized costs to obtain a contract with a customer	$	49,194	$	35,103

Prepaid expenses	17,742		21,790
Other	5,022		10,866
Other current assets	$	71,958	$	67,759


	December 31,
	2020		2019
	(In thousands)
Capitalized software, leasehold improvements and equipment, net:
Capitalized software and computer equipment	$	132,026	$	105,956
Leasehold improvements	31,864		32,559
Furniture and other equipment	13,252		13,435
Projects in progress	27,138		19,638
Capitalized software, leasehold improvements and equipment	204,280		171,588
Accumulated depreciation and amortization	(95,438)		(68,227)
Capitalized software, leasehold improvements and equipment, net	$	108,842	$	103,361


	December 31,
	2020		2019
	(In thousands)
Accrued expenses and other current liabilities:
Accrued advertising expense	$	30,033	$	29,682
Accrued employee compensation and benefits	47,310		28,630
Current lease liabilities	15,700		13,234
Other	55,176		45,451
Accrued expenses and other current liabilities	$	148,219	$	116,997


	Years Ended December 31,
	2020		2019		2018
	(In thousands)
Other income, net	$	1,218	$	6,494	$	17,741

Other income, net in 2020 principally includes interest income of $1.7 million, offset by other expense of $0.5 million.

Other income, net in 2019 includes interest income of $8.0 million and net foreign currency exchange gains of $0.6 million, partially offset by a $1.8 million mark-to-market charge for an indemnification claim related to the Handy acquisition that will be settled in ANGI shares held in escrow.

Other income, net in 2018 includes a gain of $13.2 million related to the sale of Felix and interest income of $4.8 million.

Supplemental Disclosure of Non-Cash Transactions:

On October 19, 2018, ANGI issued 8.6 million shares of its Class A common stock valued at $165.8 million in connection with the acquisition of Handy.

On October 10, 2018, ANGI issued 5.1 million shares of its Class B common stock to IAC pursuant to the post-closing adjustment provision of the Angie’s List merger agreement.

Supplemental Disclosure of Cash Flow Information:


	Years Ended December 31,
	2020		2019		2018
	(In thousands)
Cash paid (received) during the year for:
Interest expense—third-party	$	5,367	$	10,290	$	12,148
Interest expense—related party	—		54		155
Income tax payments, including amounts paid to IAC for ANGI Homeservices' share of IAC's consolidated tax liability	1,789		12,224		332
Income tax refunds, including amounts received from IAC for ANGI Homeservices' share of IAC's consolidated tax liability	(3,506)		(957)		(172)