0001800227-20-000017 | 8-K | XBRL Viewer

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Cover Page	Oct. 05, 2020
Cover [Abstract]
Entity Central Index Key	0001800227
Amendment Flag	false
Document Type	8-K
Document Period End Date	Oct. 05, 2020
Entity Registrant Name	IAC/INTERACTIVECORP
Entity Incorporation, State or Country Code	DE
Entity File Number	001-39356
Entity Tax Identification Number	84-3727412
Entity Address, Address Line One	555 West 18th Street,
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10011
City Area Code	212
Local Phone Number	314-7300
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.001
Trading Symbol	IAC
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

Schedule II

IAC HOLDINGS, INC. AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS


Description	Balance at Beginning of Period		Charges to Earnings			Charges to Other Accounts			Deductions			Balance at End of Period
	(In thousands)
2019
Allowance for doubtful accounts and revenue reserves	$	18,136	$	65,723	^(a)	$	247		$	(59,958)	^(b)	$	24,148
Deferred tax valuation allowance	$	86,778	$	7,813	^(c)	$	(1,601)	^(d)	$	—		$	92,990
Other reserves	$	4,726										$	5,060
2018
Allowance for doubtful accounts and revenue reserves	$	10,710	$	48,362	^(a)	$	(557)		$	(40,379)	^(b)	$	18,136
Deferred tax valuation allowance	$	91,040	$	(2,056)	^(e)	$	(2,206)	^(d)	$	—		$	86,778
Other reserves	$	—										$	4,726
2017
Allowance for doubtful accounts and revenue reserves	$	15,474	$	28,460	^(a)	$	(723)		$	(32,501)	^(b)	$	10,710
Deferred tax valuation allowance	$	55,680	$	29,721	^(f)	$	5,639	^(g)	$	—		$	91,040

_________________________________________________________

(a) Additions to the allowance for doubtful accounts are charged to expense.

(b) Write-off of fully reserved accounts receivable.

(c) Amount is primarily related to an increase in foreign NOLs partially offset by a net decrease in unbenefited capital losses.

(d) Amount is primarily related to currency translation adjustments on foreign NOLs.

(e) Amount is primarily related to an expiring tax credit.

(f) Amount is due primarily to the establishment of foreign NOLs related to an acquisition.

(g) Amount is primarily related to acquired state NOLs, acquired foreign tax credits and currency translation adjustments on foreign NOLs.

COMBINED BALANCE SHEET - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 839,796	$ 884,975
Marketable securities		25,366
Accounts receivable, net of allowance and reserves of $24,148 and $18,136, respectively	181,875	180,137
Notes receivable—related party	55,251	0
Other current assets	152,334	167,459
Total current assets	1,229,256	1,257,937
Right-of-use assets, net	138,608	0
Property and equipment, net	305,414	260,448
Goodwill	1,616,867	1,484,117
Intangible assets, net	350,150	393,782
Long-term investments	347,975	225,979
Other non-current assets	109,138	109,918
TOTAL ASSETS	4,097,408	3,732,181
LIABILITIES:
Current portion of long-term debt	13,750	13,750
Accounts payable, trade	72,452	64,075
Deferred revenue	178,647	150,080
Accrued expenses and other current liabilities	320,473	299,565
Total current liabilities	585,322	527,470
Long-term debt, net	231,946	244,971
Long-term debt—related party	0	2,500
Income taxes payable	6,410	6,534
Deferred income taxes	44,459	137,642
Other long-term liabilities	180,307	62,977
Redeemable noncontrolling interests	43,818	65,687
Commitments and contingencies
PARENT'S EQUITY:
Invested capital	2,547,251	2,296,583
Accumulated other comprehensive loss	(12,226)	(12,541)
Old IAC equity in IAC Holdings, Inc. and subsidiaries	2,535,025	2,284,042
Noncontrolling interests	470,121	400,358
Total parent's equity	3,005,146	2,684,400
TOTAL LIABILITIES AND PARENT'S EQUITY	$ 4,097,408	$ 3,732,181

COMBINED BALANCE SHEET (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance and reserves of accounts receivable	$ 24,148	$ 18,136

COMBINED STATEMENT OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
COMBINED STATEMENT OF OPERATIONS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue	$ 2,705,801	$ 2,533,048	$ 1,952,607
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	600,240	501,152	362,627
Selling and marketing expense	1,202,183	1,099,487	998,305
General and administrative expense	617,235	569,802	528,326
Product development expense	193,457	177,298	148,015
Depreciation	55,949	42,393	40,816
Amortization of intangibles	83,868	107,081	39,150
Goodwill impairment	3,318	0	0
Total operating costs and expenses	2,756,250	2,497,213	2,117,239
Operating (loss) income	(50,449)	35,835	(164,632)
Interest expense—third party	(11,904)	(13,059)	(2,181)
Interest income, net—related party	420	325	23,656
Other income, net	33,627	282,470	12,363
(Loss) earnings before income taxes	(28,306)	305,571	(130,794)
Income tax benefit (provision)	60,489	(13,200)	155,402
Net earnings	32,183	292,371	24,608
Net (earnings) loss attributable to noncontrolling interests	(9,288)	(45,599)	12,398
Net earnings attributable to Old IAC equity in IAC Holdings, Inc.	22,895	246,772	37,006
Stock-based compensation expense by function:
Stock-based compensation expense	134,338	148,405	192,005
Cost of revenue
Stock-based compensation expense by function:
Stock-based compensation expense	74	195	180
Selling and marketing expense
Stock-based compensation expense by function:
Stock-based compensation expense	5,185	4,345	26,654
General and administrative expense
Stock-based compensation expense by function:
Stock-based compensation expense	118,709	132,180	146,963
Product development expense
Stock-based compensation expense by function:
Stock-based compensation expense	$ 10,370	$ 11,685	$ 18,208

COMBINED STATEMENT OF COMPREHENSIVE OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net earnings	$ 32,183	$ 292,371	$ 24,608
Other comprehensive income (loss), net of income taxes:
Change in foreign currency translation adjustment	311	(6,444)	15,677
Change in unrealized gains and losses on available-for-sale marketable debt securities	(3)	3
Total other comprehensive income (loss), net of income taxes	308	(6,441)	15,677
Comprehensive income, net of income taxes	32,491	285,930	40,285
Components of comprehensive (income) loss attributable to noncontrolling interests:
Net (earnings) loss attributable to noncontrolling interests	(9,288)	(45,599)	12,398
Change in foreign currency translation adjustment attributable to noncontrolling interests	26	1,416	(1,310)
Change in unrealized gains and losses of available-for-sale securities attributable to noncontrolling interests	1	(1)	0
Comprehensive (income) loss attributable to noncontrolling interests	(9,261)	(44,184)	11,088
Comprehensive income attributable to Old IAC equity in IAC Holdings, Inc.	$ 23,230	$ 241,746	$ 51,373

COMBINED STATEMENT OF PARENT'S EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Redeemable Noncontrolling Interests	Total Old IAC equity in IAC Holdings, Inc.	Total Old IAC equity in IAC Holdings, Inc. Cumulative Effect, Period of Adoption, Adjustment	Invested Capital	Invested Capital Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive (Loss) Income	Noncontrolling Interests	Noncontrolling Interests Cumulative Effect, Period of Adoption, Adjustment
Balance at beginning of period at Dec. 31, 2016			$ 26,764
Increase (Decrease) in Temporary Equity [Roll Forward]
Net earnings (loss)			3,442
Other comprehensive income (loss), net of income taxes			769
Stock-based compensation expense			2,017
Distributions to and purchases of redeemable noncontrolling interests			(20,025)
Adjustment of redeemable noncontrolling interests to fair value			6,448
Noncontrolling interests created in acquisitions			17,758
Other			(362)
Balance at end of period at Dec. 31, 2017			36,811
Balance at beginning of period at Dec. 31, 2016	$ 1,250,920			$ 1,241,439		$ 1,263,303		$ (21,864)	$ 9,481
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)	21,166			37,006		37,006			(15,840)
Other comprehensive income (loss), net of income taxes	14,908			14,367				14,367	541
Stock-based compensation expense	189,988			64,539		64,539			125,449
Distributions to and purchases of noncontrolling interests	(848)								(848)
Adjustment of redeemable noncontrolling interests to fair value	(6,448)			(6,448)		(6,448)
Acquisition of Angie's List and creation of noncontrolling interests in ANGI Homeservices	779,471			645,475		645,475			133,996
Issuance of ANGI Homeservices common stock pursuant to stock-based awards, net of withholding taxes	(8,493)			(11,223)		(11,216)		(7)	2,730
Net increase (decrease) in IAC/InterActiveCorp's investment in IAC Holdings, Inc.	14,784			14,784		14,784
Other	872								872
Balance at end of period at Dec. 31, 2017	2,256,320	$ 40,337		1,999,939	$ 36,927	2,007,443	$ 36,927	(7,504)	256,381	$ 3,410
Increase (Decrease) in Temporary Equity [Roll Forward]
Net earnings (loss)			33,788
Other comprehensive income (loss), net of income taxes			(582)
Stock-based compensation expense			1,138
Distributions to and purchases of redeemable noncontrolling interests			(11,282)
Adjustment of redeemable noncontrolling interests to fair value			6,640
Noncontrolling interests created in acquisitions			2,261
Other			(3,087)
Balance at end of period at Dec. 31, 2018	65,687		65,687
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)	258,583			246,772		246,772			11,811
Other comprehensive income (loss), net of income taxes	(5,859)			(5,026)				(5,026)	(833)
Stock-based compensation expense	147,267			51,327		51,327			95,940
Distributions to and purchases of noncontrolling interests	(1,236)								(1,236)
Adjustment of redeemable noncontrolling interests to fair value	(6,640)			(6,640)		(6,640)
Issuance of ANGI Homeservices common stock pursuant to stock-based awards, net of withholding taxes	140,706			106,204		106,215		(11)	34,502
Net increase (decrease) in IAC/InterActiveCorp's investment in IAC Holdings, Inc.	(145,461)			(145,461)		(145,461)
Other	383								383
Balance at end of period at Dec. 31, 2018	2,684,400			2,284,042		2,296,583		(12,541)	400,358
Increase (Decrease) in Temporary Equity [Roll Forward]
Net earnings (loss)			3,168
Other comprehensive income (loss), net of income taxes			39
Stock-based compensation expense			148
Distributions to and purchases of redeemable noncontrolling interests			(40,432)
Adjustment of redeemable noncontrolling interests to fair value			11,554
Noncontrolling interests created in acquisitions			3,739
Other			(85)
Balance at end of period at Dec. 31, 2019	43,818		$ 43,818
Increase (Decrease) in Shareholders' Equity
Net earnings (loss)	29,015			22,895		22,895			6,120
Other comprehensive income (loss), net of income taxes	269			335				335	(66)
Stock-based compensation expense	131,708			65,893		65,893			65,815
Adjustment of redeemable noncontrolling interests to fair value	(11,554)			(11,554)		(11,554)
Issuance of ANGI Homeservices common stock pursuant to stock-based awards, net of withholding taxes	(34,722)			(32,616)		(32,596)		(20)	(2,106)
Purchase of treasury stock	(57,949)			(57,949)		(57,949)
Net increase (decrease) in IAC/InterActiveCorp's investment in IAC Holdings, Inc.	263,979			263,979		263,979
Balance at end of period at Dec. 31, 2019	$ 3,005,146			$ 2,535,025		$ 2,547,251		$ (12,226)	$ 470,121

COMBINED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
COMBINED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net earnings	$ 32,183	$ 292,371	$ 24,608
Adjustments to reconcile net earnings to net cash provided by operating activities:
Stock-based compensation expense	134,338	148,405	192,005
Amortization of intangibles	83,868	107,081	39,150
Depreciation	55,949	42,393	40,816
Bad debt expense	65,723	48,362	28,460
Goodwill impairment	3,318	0	0
Deferred income taxes	(62,770)	8,765	(126,735)
Gains on equity securities, net	(41,385)	(153,429)	(25,797)
Losses (gains) from the sale of businesses, net	8,239	(121,312)	70
Other adjustments, net	6,085	2,410	19,180
Changes in assets and liabilities, net of effects of acquisitions and dispositions:
Accounts receivable	(73,574)	(52,131)	(62,205)
Other assets	10,605	(29,802)	17,867
Accounts payable and other liabilities	889	35,611	(4,142)
Income taxes payable and receivable	196	4,302	(7,358)
Deferred revenue	28,136	36,409	4,498
Net cash provided by operating activities	251,800	369,435	140,417
Cash flows from investing activities:
Acquisitions, net of cash acquired	(201,967)	(65,632)	(146,273)
Capital expenditures	(97,898)	(54,680)	(46,153)
Proceeds from maturities of marketable debt securities	25,000	35,000
Purchases of marketable debt securities		(59,671)	0
Net proceeds from the sale of businesses and investments	164,828	136,311	28,561
Purchases of investments	(253,663)	(49,180)	(29)
Increase in notes receivable—related party	(54,828)	0	0
Other, net	(3,340)	13,170	2,857
Net cash used in investing activities	(421,868)	(44,682)	(161,037)
Cash flows from financing activities:
Borrowing under ANGI Homeservices Term Loan			275,000
Principal payments on ANGI Homeservices Term Loan	(13,750)	(13,750)	0
Proceeds from issuance of related-party debt	0	2,500	0
Principal payments on related-party debt	(2,500)	0	0
Debt issuance costs	0	(3,709)	(3,803)
Purchase of ANGI Homeservices treasury stock	(56,905)	0	0
Proceeds from the exercise of ANGI Homeservices stock options	573	4,693	1,653
Withholding taxes paid on behalf of ANGI Homeservices employees on net settled stock-based awards	(35,284)	(29,844)	(10,113)
Distributions to and purchases of noncontrolling interests	(27,534)	(12,518)	(19,748)
Acquisition-related contingent consideration payments	0	0	(3,860)
Transfers from (to) Old IAC	263,281	(144,069)	8,015
Other, net	(3,795)	(1,041)	(340)
Net cash provided by (used in) financing activities	124,086	(197,738)	246,804
Total cash (used) provided	(45,982)	127,015	226,184
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(122)	(118)	1,587
Net (decrease) increase in cash and cash equivalents and restricted cash	(46,104)	126,897	227,771
Cash and cash equivalents and restricted cash at beginning of period	886,836	759,939	532,168
Cash and cash equivalents and restricted cash at end of period	$ 840,732	$ 886,836	$ 759,939

ORGANIZATION AND BASIS OF PRESENTATION	12 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	ORGANIZATION AND BASIS OF PRESENTATION Separation On December 19, 2019, IAC/InterActiveCorp (“Old IAC”) entered into a Transaction Agreement (the “Transaction Agreement”) with Match Group, Inc., a Delaware corporation in which Old IAC owns a majority equity stake (“Match”), IAC Holdings, Inc., a Delaware corporation and a direct wholly owned subsidiary of Old IAC (“New IAC”), and Valentine Merger Sub LLC, a Delaware limited liability company and an indirect wholly owned subsidiary of Old IAC. Subject to the terms and conditions set forth in the Transaction Agreement, the businesses of Match will be separated from the remaining businesses of Old IAC through a series of transactions that will result in the pre‑transaction stockholders of Old IAC owning shares in two, separate public companies—(1) Old IAC, which will be renamed “Match Group, Inc.” and which will own the businesses of Match and certain IAC financing subsidiaries (and which we refer to as “New Match”), and (2) New IAC, which will be renamed “IAC/InterActiveCorp” and which will own Old IAC’s other businesses—and the pre‑transaction stockholders of Match (other than Old IAC) owning shares in New Match. Completion of the Separation, which is expected to occur in the second quarter of 2020, is subject to the satisfaction (or, to the extent permitted by law, waiver) of a number of conditions. We refer to this transaction as the “Separation". On June 30, 2020, the Separation was completed. Basis of Presentation and Combination In connection with the Separation, IAC Holdings, Inc. was incorporated as a Delaware corporation in November 2019. IAC Holdings, Inc. currently does not have any material assets or liabilities, nor does it engage in any business or other activities and, other than in connection with the Separation, will not acquire or incur any material assets or liabilities, nor will it engage in any business or other activities. The historical combined financial statements of IAC Holdings, Inc. and subsidiaries have been prepared on a standalone basis and are derived from the consolidated financial statements and accounting records of Old IAC. The combined financial statements reflect the historical financial position, results of operations and cash flows of the businesses comprising New IAC since their respective dates of acquisition by Old IAC and the allocation to New IAC of certain Old IAC corporate expenses relating to New IAC based on the historical financial statements and accounting records of Old IAC. For the purpose of these financial statements, income taxes have been computed as if the entities comprising New IAC filed tax returns on a standalone, separate basis. The financial statements have been prepared on a combined, rather than consolidated, basis as the final steps of the legal reorganization, which will result in the contribution of all the entities that will comprise New IAC as of the date of the Separation, are not yet complete. As used herein, "New IAC," "we," "our" or "us" and similar terms in these historical combined financial statements refer to IAC Holdings, Inc. and its subsidiaries (unless the context requires otherwise). New IAC prepares its combined financial statements in accordance with U.S. generally accepted accounting principles ("GAAP"). All intercompany transactions and balances between and among New IAC, its subsidiaries and the entities comprising New IAC have been eliminated. All intercompany transactions between (i) New IAC and (ii) Old IAC and its subsidiaries are considered to be effectively settled for cash at the time the transaction is recorded. The total net effect of the settlement of these intercompany transactions is reflected in the combined statement of cash flows as a financing activity and in the combined balance sheet as “Invested capital.” In management's opinion, the assumptions underlying the historical combined financial statements of New IAC, including the basis on which the expenses have been allocated from Old IAC, are reasonable. However, the allocations may not reflect the expenses that we may have incurred as an independent, stand-alone company for the periods presented. Company overview New IAC operates Vimeo and Dotdash, among many other online businesses, and also has majority ownership of ANGI Homeservices, which includes HomeAdvisor, Angie’s List and Handy. ANGI Homeservices Our ANGI Homeservices segment includes the North American (United States and Canada) and European businesses and operations of ANGI Homeservices Inc. ("ANGI"). On September 29, 2017, New IAC's HomeAdvisor business and Angie's List Inc. ("Angie's List") combined under a new publicly traded company called ANGI Homeservices Inc. (the "Combination"). At December 31, 2019, New IAC's economic interest and voting interest in ANGI were 84.1% and 98.1%, respectively. ANGI Homeservices Inc. connects quality home service professionals across 500 different categories, from repairing and remodeling to cleaning and landscaping, with consumers. Over 250,000 domestic service professionals find work through ANGI and consumers turn to at least one of our brands to find a professional for more than 25 million projects each year. ANGI has established category-transforming products with brands such as HomeAdvisor, Angie’s List, Handy and Fixd Repair. On January 25, 2019, ANGI completed the acquisition of Fixd Repair, a home warranty and service company. On October 19, 2018, ANGI acquired Handy, a leading platform in the United States for connecting individuals looking for household services (primarily cleaning and handyman services) with top-quality, pre-screened independent service professionals. ANGI also owns and operates mHelpDesk, a provider of cloud-based field service software for small to mid-size businesses. Prior to its sale on December 31, 2018, ANGI also operated Felix, a pay-per-call advertising service business. In addition to its market-leading U.S. operations, ANGI owns leading home services online marketplaces in France (Travaux), Germany (MyHammer), Netherlands (Werkspot), United Kingdom (MyBuilder Limited or "MyBuilder," which we acquired a controlling interest in on March 24, 2017), Canada (HomeStars Inc. or "HomeStars," which we acquired a controlling interest in on February 8, 2017) and Italy (Instapro), as well as operations in Austria (MyHammer). Vimeo Vimeo operates a global video platform for creative professionals, small and medium businesses ("SMBs"), organizations and enterprises to connect with their audiences, customers and employees. Vimeo provides cloud-based Software-as-a-Service ("SaaS") offerings that allow customers to create, host, stream, monetize, analyze and distribute videos online and across devices. Vimeo also sold live streaming accessories through its hardware business, which was sold on March 29, 2019. On May 28, 2019, Vimeo completed the acquisition of Magisto, a video creation service enabling consumers and businesses to create short-form videos. Dotdash Dotdash is a portfolio of digital publishing brands providing expert information and inspiration in select vertical content categories. Search Our Search segment consists of our Desktop business and Ask Media Group. Through our Desktop business, we are a leading provider of global, advertising-driven desktop applications. We own and operate a portfolio of desktop browser applications that provide users with access to a wide variety of online content, tools and services. We provide users who download our desktop browser applications with new tab search services, as well as the option of default browser search services. We distribute our desktop browser applications to consumers free of charge on an opt-in basis directly through direct to consumer (primarily Chrome Web Store) and partnership distribution channels. Ask Media Group is a collection of websites providing general search services, and to a lesser extent, content that help users find the information they need. Emerging & Other Our Emerging & Other segment primarily includes: •Mosaic Group, a leading provider of global subscription mobile applications. Mosaic Group's products are developed by the following owned and operated businesses: ◦Apalon, a leading mobile development company with one of the largest and most popular application portfolios worldwide. ◦iTranslate, a developer and distributor of some of the world's most downloaded mobile translation applications, enabling users to read, write, speak and learn foreign languages anywhere in the world, acquired in March 2018. ◦TelTech, a developer and distributor of unique and innovative mobile communications applications that help protect consumer privacy, acquired in October 2018. ◦Daily Burn, a health and fitness business that provides streaming fitness and workout videos across a variety of platforms (including mobile, web and other Internet-enabled television platforms). •Bluecrew, a technology driven staffing platform exclusively for flexible W-2 work, which we acquired a controlling interest in on February 26, 2018; •NurseFly, a platform to efficiently connect healthcare professionals with job opportunities, which we acquired a controlling interest in on June 26, 2019; •The Daily Beast, a website dedicated to news, commentary, culture and entertainment that publishes original reporting and opinion from its roster of full-time journalists and contributors; •College Humor Media, a provider of digital content, including its subscription only property, Dropout.tv; •IAC Films, a provider of production and producer services for feature films, primarily for initial sale and distribution through theatrical releases and video-on-demand services in the United States and internationally; and •For periods prior to their sales: ◦CityGrid, an advertising network that integrated local content and advertising for distribution to affiliated and third-party publishers across web and mobile platforms, sold December 31, 2018. ◦Dictionary.com, an online and mobile dictionary and thesaurus service, sold November 13, 2018. ◦Electus, including Notional, a provider of production and producer services for both unscripted and scripted television and digital content, primarily for initial sale and distribution in the United States, sold October 29, 2018.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounting for Investments in Equity Securities

Investments in equity securities, other than those of our combined subsidiaries and those accounted for under the equity method, if applicable, are accounted for at fair value or under the measurement alternative of Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, following its adoption on January 1, 2018, with any changes to fair value recognized within other income (expense), net each reporting period. Under the measurement alternative, equity investments without readily determinable fair values are carried at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar securities of the same issuer; value is generally determined based on a market approach as of the transaction date. A security will be considered identical or similar if it has identical or similar rights to the equity securities held by New IAC. New IAC reviews its investments in equity securities without readily determinable fair values for impairment each reporting period when there are qualitative factors or events that indicate possible impairment. Factors we consider in making this determination include negative changes in industry and market conditions, financial performance, business prospects, and other relevant events and factors. When indicators of impairment exist, New IAC prepares quantitative assessments of the fair value of our investments in equity securities, which require judgment and the use of estimates. When our assessment indicates that the fair value of the investment is below the carrying value, New IAC writes down the investment to its fair value and records the corresponding charge within other income (expense), net.

In the event New IAC has investments in the common stock or in-substance common stock of entities in which we have

the ability to exercise significant influence over the operating and financial matters of the investee, but do not have a controlling financial interest, these would be accounted for using the equity method and included in "Long-term investments" in the accompanying combined balance sheet. At December 31, 2019 and 2018, New IAC did not have any investments accounted for using the equity method.

Accounting Estimates

Management of New IAC is required to make certain estimates, judgments and assumptions during the preparation of its combined financial statements in accordance with GAAP. These estimates, judgments and assumptions impact the reported amounts of assets, liabilities, revenue and expenses and the related disclosure of contingent assets and liabilities. Actual results could differ from these estimates.

On an ongoing basis, New IAC evaluates its estimates and judgments, including those related to: the fair values of cash equivalents and marketable debt securities; the carrying value of accounts receivable, including the determination of the allowance for doubtful accounts; the determination of revenue reserves; the carrying value of right-of-use assets ("ROU assets"); the useful lives and recoverability of definite-lived intangible assets and property and equipment; the recoverability of goodwill and indefinite-lived intangible assets; the fair value of equity securities without readily determinable fair values; contingencies; the fair value of acquisition-related contingent consideration arrangements; unrecognized tax benefits; the valuation allowance for deferred income tax assets; and the fair value of and forfeiture rates for stock-based awards, among others. New IAC bases its estimates and judgments on historical experience, its forecasts and budgets and other factors that New IAC considers relevant.

Revenue Recognition

New IAC adopted ASU No. 2014-09, Revenue from Contracts with Customers, effective January 1, 2018 using the modified retrospective transition method for open contracts as of the date of initial application. The cumulative effect to New IAC's retained earnings at January 1, 2018 was an increase of $40.3 million, of which $3.4 million was related to the noncontrolling interest in ANGI; the adjustment to retained earnings was principally related to New IAC’s ANGI segment and the Desktop business.

•Within ANGI, the effect of the adoption of ASU No. 2014-09 was that commissions paid to employees pursuant to certain sales incentive programs, which represent the incremental direct costs of obtaining a service professional contract, are now capitalized and amortized over the estimated life of a service professional (also referred to as the estimated customer relationship period). These costs were expensed as incurred prior to January 1, 2018. The cumulative effect of the adoption of ASU No. 2014-09 was the establishment of a current and non-current asset for capitalized sales commissions of $29.7 million and $4.2 million, respectively, and a related deferred tax liability of $8.0 million, resulting in a net increase to retained earnings of $25.9 million on January 1, 2018.

•Within the Desktop business, the primary effect of the adoption of ASU No. 2014-09 was to accelerate the recognition of the portion of the revenue of certain desktop applications sold by SlimWare that qualify as functional intellectual property ("functional IP") under ASU No. 2014-09. This revenue was previously deferred and recognized over the applicable subscription term. The cumulative effect of the adoption of ASU No. 2014-09 for SlimWare was a reduction in deferred revenue of $20.3 million and the establishment of a deferred tax liability of $4.9 million, resulting in a net increase to retained earnings of $15.5 million on January 1, 2018.

New IAC's disaggregated revenue disclosures are presented in "Note 10—Segment Information."

The following table presents the impact of the adoption of ASU No. 2014-09 by segment under Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers, as reported, and ASC 605, Revenue Recognition, for the year ended December 31, 2018.


	Under ASC 606 (as reported)		Under ASC 605		Effect of adoption of ASU No. 2014-09
	(In thousands)
Revenue by segment:
ANGI Homeservices	$	1,132,241	$	1,132,241	$	—
Vimeo	159,641		160,931		(1,290)
Dotdash	130,991		130,991		—
Search	823,950		830,447		(6,497)
Emerging & Other	286,586		279,294		7,292
Inter-segment eliminations	(361)		(361)		—
Total	$	2,533,048	$	2,533,543	$	(495)

Operating costs and expenses by segment:
ANGI Homeservices	$	1,068,335	$	1,073,275	$	(4,940)
Vimeo	195,235		196,212		(977)
Dotdash	112,213		112,213		—
Search	672,525		672,525		—
Emerging & Other	313,213		310,404		2,809
Corporate	135,692		135,692		—
Total	$	2,497,213	$	2,500,321	$	(3,108)

Operating income (loss) by segment:
ANGI Homeservices	$	63,906	$	58,966	$	4,940
Vimeo	(35,594)		(35,281)		(313)
Dotdash	18,778		18,778		—
Search	151,425		157,922		(6,497)
Emerging & Other	(26,627)		(31,110)		4,483
Corporate	(136,053)		(136,053)		—
Total	$	35,835	$	33,222	$	2,613

Net earnings	$	292,371	$	290,487	$	1,884

New IAC accounts for a contract with a customer when it has approval and commitment from all parties, the rights of the parties and payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Revenue is recognized when control of the promised services or goods is transferred to our customers and in an amount that reflects the consideration New IAC expects to be entitled to in exchange for those services or goods.

Transaction Price

The objective of determining the transaction price is to estimate the amount of consideration New IAC is due in exchange for its services or goods, including amounts that are variable. New IAC determines the total transaction price, including an estimate of any variable consideration, at contract inception and reassesses this estimate each reporting period.

New IAC excludes from the measurement of transaction price all taxes assessed by governmental authorities that are both (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers. Accordingly, such tax amounts are not included as a component of revenue or cost of revenue.

For contracts that have an original duration of one year or less, New IAC uses the practical expedient available under ASU No. 2014-09, applicable to such contracts and does not consider the time value of money.

Arrangements with Multiple Performance Obligations

New IAC’s contracts with customers may include multiple performance obligations. For such arrangements, New IAC allocates revenue to each performance obligation based on its relative standalone selling price. New IAC generally determines standalone selling prices based on the prices charged to customers, which are directly observable or based on an estimate if not directly observable. For our multiple performance obligation arrangements that include functional intellectual property ("IP"), which comprise the downloadable apps and software of the Desktop business, New IAC uses a residual approach to determine standalone selling prices for the functional IP.

Assets Recognized from the Costs to Obtain a Contract with a Customer

New IAC has determined that certain costs, primarily commissions paid to employees pursuant to certain sales incentive programs and mobile app store fees, meet the requirements to be capitalized as a cost of obtaining a contract. Commissions paid to employees pursuant to certain sales incentive programs are amortized over the estimated customer relationship period. New IAC calculates the estimated customer relationship period as the average customer life, which is based on historical data. When customer renewals are expected and the renewal commission is not commensurate with the initial commission, the average customer life includes renewal periods. For sales incentive programs where the customer relationship period is one year or less, New IAC has elected the practical expedient to expense the costs as incurred. New IAC generally capitalizes and amortizes mobile app store fees over the term of the applicable subscription.

During the years ended December 31, 2019 and 2018, New IAC recognized expense of $99.8 million and $70.6 million related to the amortization of these costs. The current contract asset balances are $43.1 million, $40.6 million and $30.9 million at December 31, 2019 and 2018, and January 1, 2018, respectively. The non-current contract asset balances are $6.2 million, $4.5 million and $4.7 million at December 31, 2019 and 2018, and January 1, 2018, respectively. The current and non-current contract assets are included in "Other current assets" and "Other non-current assets," respectively, in the accompanying combined balance sheet.

Performance Obligations

As permitted under the practical expedient available under ASU No. 2014-09, New IAC does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts with variable consideration that is allocated entirely to unsatisfied performance obligations or to a wholly unsatisfied promise accounted for under the series guidance, and (iii) contracts for which New IAC recognizes revenue at the amount which we have the right to invoice for services performed.

ANGI Homeservices

ANGI revenue is primarily derived from (i) consumer connection revenue, which comprises fees paid by HomeAdvisor service professionals for consumer matches (regardless of whether the service professional ultimately provides the requested service) and fees from completed jobs sourced through the HomeAdvisor and Handy platforms, and (ii) HomeAdvisor service professional membership subscription fees. Consumer connection revenue varies based upon several factors, including the service requested, product experience offered and geographic location of service. Consumer connection revenue is generated and recognized when an in-network service professional has delivered a consumer match or when a job sourced through the HomeAdvisor and Handy platforms is completed. Service professional membership subscription revenue is initially deferred and is recognized using the straight-line method over the applicable subscription period, which is typically one year. Consumer connection revenue is generally billed one week following a consumer match, with payment due upon receipt of invoice or collected when a consumer schedules a job through the HomeAdvisor and Handy platforms. ANGI maintains revenue reserves for potential credits for services provided by Handy service professionals to consumers.

ANGI revenue is also derived from (i) sales of time-based website, mobile and call center advertising to service professionals, (ii) membership subscription fees from consumers and (iii) service warranty subscription and other services. Angie's List service professionals generally pay for advertisements in advance on a monthly or annual basis at the option of the service professional, with the average advertising contract term being approximately one year. Angie's List website, mobile and call center advertising revenue is recognized ratably over the contract term. Revenue from the sale of advertising in the Angie’s List Magazine is recognized in the period in which the publication is distributed. Angie's List prepaid consumer membership subscription fees are recognized as revenue using the straight-line method over the term of the applicable subscription period, which is typically one year.

Prior to January 1, 2020, Handy recorded revenue on a net basis. Effective January 1, 2020, we modified the Handy terms and conditions so that Handy, rather than the service professional, has the contractual relationship with the consumer to deliver the service and Handy, rather than the consumer, has the contractual relationship with the service professional. Consumers request services and pay for such services directly through the Handy platform and then Handy fulfills the request with independently established home services providers engaged in a trade, occupation and/or business that customarily provides such services. This change in contractual terms requires gross revenue accounting treatment effective January 1, 2020. Also, in the case of certain tasks, HomeAdvisor provides a pre-priced product offering, pursuant to which consumers can request services through a HomeAdvisor platform and pay HomeAdvisor for the services directly. HomeAdvisor then fulfills the request with independently established home services providers engaged in a trade, occupation and/or business that customarily provides such services. Revenue from HomeAdvisor’s pre-priced product offering is also recorded on a gross basis effective January 1, 2020. In addition to changing the presentation of revenue to gross from net, the timing of revenue recognition will change for pre-priced jobs and will be later than the timing of existing consumer connection revenue for HomeAdvisor because we will not be able to record revenue, generally, until the service professional completes the job on our behalf.

Vimeo

Vimeo revenue is derived primarily from annual and monthly SaaS subscription fees paid by subscribers for self-serve and enterprise subscription plans. Subscription revenue is recognized over the terms of the applicable subscription period, which are typically one month or one year.

Dotdash

Dotdash revenue consists principally of display advertising revenue and performance marketing revenue. Display advertising revenue is generated primarily through digital display advertisements sold directly by our sales team and through programmatic advertising networks. Performance marketing revenue includes affiliate commerce and performance marketing commissions. Affiliate commerce commission revenue is generated when Dotdash refers users to commerce partner websites resulting in a purchase or transaction. Performance marketing commissions are generated on a cost-per-click or cost-per-new account basis.

Desktop revenue largely consists of advertising revenue generated principally through the display of paid listings in response to search queries. Paid listings are advertisements displayed on search results pages that generally contain a link to advertiser websites. The substantial majority of the paid listings displayed by our Desktop businesses is supplied to us by Google Inc. ("Google") pursuant to our services agreement with Google. Pursuant to this agreement, Desktop businesses that provide search services transmit search queries to Google, which in turn transmits a set of relevant and responsive paid listings back to these businesses for display in search results. This ad-serving process occurs independently of, but concurrently with, the generation of algorithmic search results for the same search queries. Google paid listings are displayed separately from algorithmic search results and are identified as sponsored listings on search results pages. Paid listings are priced on a price per click basis and when a user submits a search query through a Desktop business and then clicks on a Google paid listing displayed in response to the query, Google bills the advertiser that purchased the paid listing and shares a portion of the fee charged to the advertiser with the Desktop business. New IAC recognizes paid listing revenue from Google when it delivers the user's click. In cases where the user’s click is generated due to the efforts of a third-party distributor, we recognize the amount due from Google as revenue and record a revenue share or other payment obligation to the third-party distributor as traffic acquisition costs.

To a lesser extent, Desktop revenue also includes fees related to subscription-based downloadable desktop applications as well as display advertisements. Fees related to subscription downloadable desktop applications are generally recognized over the term of the applicable subscription period, which is primarily one or two years. Fees related to display advertisements are recognized when an advertisement is displayed.

Ask Media Group revenue consists principally of advertising revenue generated principally through the display of paid listings in response to search queries, as well as from display advertisements appearing alongside content on its various websites and, to a lesser extent, affiliate commerce commission revenue. The majority of the paid listings displayed are supplied to us by Google in the manner, and pursuant to the services agreement with Google, described above.

Revenue from display advertising is generated through advertisements sold through programmatic advertising networks. Affiliate commerce commission revenue is generated when an Ask Media Group property refers users to commerce partner websites resulting in a purchase or transaction.

Emerging & Other

Mosaic Group revenue consists primarily of fees related to subscription downloadable mobile applications distributed through the Apple App Store and Google Play Store, as well as display advertisements. Fees related to subscription downloadable mobile applications are recognized either over the term of the subscription period, which is up to one year, for those applications that must be connected to our servers to function, or at the time of the sale when the software is delivered. Fees related to display advertisements are recognized when an advertisement is displayed.

Bluecrew revenue consists of service revenue, which is generated through staffing workers and recognized as control of the promised services is transferred to our customers.

NurseFly revenue consists of subscription revenue, which is generated through recruiting agencies that seek access to qualified healthcare professionals and is recognized at the earlier of the full delivery of the promised services or the length of the subscription period.

The Daily Beast revenue consists of advertising revenue, which is generated primarily through display advertisements (sold directly and through programmatic ad sales), and to a lesser extent, affiliate commerce commission revenue.

Revenue of College Humor Media and IAC Films is generated primarily through media production and distribution and advertising. Production revenue is recognized when control is transferred to the customer to broadcast or exhibit, and advertising revenue is recognized when an advertisement is displayed or over the advertising period.

Accounts Receivables, Net of Allowance for Doubtful Accounts and Revenue Reserves

Accounts receivable include amounts billed and currently due from customers. New IAC maintains an allowance for doubtful accounts to provide for the estimated amount of accounts receivable that will not be collected. The allowance for doubtful accounts is based upon a number of factors, including the length of time accounts receivable are past due, New IAC’s previous loss history and the specific customer’s ability to pay its obligation. The time between New IAC issuance of an invoice and payment due date is not significant; customer payments that are not collected in advance of the transfer of promised services or goods are generally due no later than 30 days from invoice date. New IAC also maintains allowances to reserve for potential credits issued to consumers or other revenue adjustments. The amounts of these reserves are based primarily upon historical experience.

Deferred Revenue

Deferred revenue consists of advance payments that are received or are contractually due in advance of New IAC's performance. New IAC’s deferred revenue is reported on a contract by contract basis at the end of each reporting period. New IAC classifies deferred revenue as current when the term of the applicable subscription period or expected completion of our performance obligation is one year or less. The deferred revenue balance is $179.9 million, $151.8 million and $133.9 million at December 31, 2019 and 2018, and January 1, 2018, respectively. During the years ended December 31, 2019 and 2018, New IAC recognized $146.5 million and $131.9 million of revenue that was included in the deferred revenue balance as of December 31, 2018 and January 1, 2018, respectively. The current deferred revenue balances are $178.6 million and $150.1

million at December 31, 2019 and 2018, respectively. The non-current deferred revenue balances are $1.3 million and $1.7 million at December 31, 2019 and 2018, respectively. Non-current deferred revenue is included in "Other long-term liabilities" in the accompanying combined balance sheet.

Cash and Cash Equivalents

Cash and cash equivalents include cash and short-term investments, with maturities of less than 91 days from the date of purchase. Domestically, cash equivalents primarily consist of AAA rated government money market funds, treasury discount notes, time deposits and commercial paper rated A1/P1 or better. Internationally, cash equivalents primarily consist of AAA rated government money market funds and time deposits.

Investments in Debt Securities

New IAC invests in marketable debt securities with active secondary or resale markets to ensure portfolio liquidity to fund current operations or satisfy other cash requirements as needed. Marketable debt securities are adjusted to fair value each quarter, and the unrealized gains and losses, net of tax, are included in accumulated other comprehensive income (loss) as a separate component of parent's equity. The specific-identification method is used to determine the cost of debt securities sold and the amount of unrealized gains and losses reclassified out of accumulated other comprehensive income (loss) into earnings. New IAC also invests in non-marketable debt securities as part of its investment strategy. We review our debt securities for impairment each reporting period. New IAC recognizes an unrealized loss on debt securities in net earnings when the impairment is determined to be other-than-temporary. Factors we consider in making such determination include the duration, severity and reason for the decline in value and the potential recovery and our intent to sell the debt security. We also consider whether we will be required to sell the security before recovery of its amortized cost basis and whether the amortized cost basis cannot be recovered because of credit losses. If an impairment is considered to be other-than-temporary, the debt security will be written down to its fair value and the loss will be recognized within other income (expense), net. New IAC has no marketable securities at December 31, 2019. At December 31, 2018, marketable debt securities consist of treasury discount notes.

Certain Risks and Concentrations

Services Agreement with Google

Old IAC and Google are party to a services agreement (the “Services Agreement”). If the Separation is consummated, Old IAC shall assign the Services Agreement to New IAC. A meaningful portion of New IAC's revenue is attributable to the Services Agreement. In addition, New IAC earns certain other advertising revenue from Google that is not attributable to the Services Agreement. For the years ended December 31, 2019, 2018 and 2017, total revenue earned from Google was $733.5 million, $825.2 million and $740.7 million, respectively, representing 27%, 33% and 38%, respectively, of New IAC's combined revenue. Accounts receivable related to revenue earned from Google totaled $53.0 million and $69.1 million at December 31, 2019 and 2018, respectively.

Revenue attributable to the Services Agreement is earned by the Desktop business and Ask Media Group within the Search segment. For the years ended December 31, 2019, 2018 and 2017, revenue earned from the Services Agreement was $291.1 million, $426.5 million and $480.6 million, respectively, within the Desktop business and $385.9 million, $339.0 million and $203.5 million, respectively, within Ask Media Group.

The current Services Agreement expires on March 31, 2020. On February 11, 2019, Old IAC and Google amended the Services Agreement, effective as of April 1, 2020. The amendment extends the expiration date of the agreement to March 31, 2023; provided that during September 2020 and during each September thereafter, either party may, after discussion with the other party, terminate the services agreement, effective on September 30 of the year following the year such notice is given. New IAC believes that the amended agreement, taken as a whole, is comparable to Old IAC’s currently existing agreement with Google. The Services Agreement requires that New IAC comply with certain guidelines promulgated by Google. Google may generally unilaterally update its policies and guidelines without advance notice. These updates may be specific to the Services Agreement or could be more general and thereby impact New IAC as well as other companies. These policy and guideline updates could in turn require modifications to, or prohibit and/or render obsolete certain of our products, services and/or business practices, which could be costly to address or otherwise have an adverse effect on our combined financial condition and results of operations, particularly our Desktop business and Ask Media Group. As described below, Google has made

changes to the policies under the Services Agreement and has also made industry‑wide changes that have negatively impacted the Desktop business during both 2018 and 2019.

Google’s policy changes related to its Chrome browser, which became effective on September 12, 2018, negatively impacted the distribution of our B2C downloadable desktop products. The resultant reduction in projected profits and revenues of this business resulted in a $27.7 million impairment of the B2C trade name, which was recorded in the fourth quarter of 2018. On May 31, 2019, Google announced industry-wide policy changes, which became effective on July 1, 2019, related to all extensions distributed through the Chrome Web Store. These industry-wide changes, combined with other changes to polices under the Services Agreement during the second half of 2019, have had a negative impact on the historical and expected future results of operations of the Desktop business. As of December 31, 2019, the goodwill balance of the Desktop reporting unit and the carrying value of the related intangible asset are $265.1 million and $28.9 million, respectively. The fair values of the Desktop reporting unit and the related intangible asset approximate their carrying values; therefore, a modest reduction in the fair values of the Desktop reporting unit or the related intangible asset would result in an impairment charge, which would be equal to the excess of the carrying value over the fair value of such assets.

Credit Risk

Financial instruments, which potentially subject New IAC to concentration of credit risk, consist primarily of cash and cash equivalents. Cash and cash equivalents are maintained with financial institutions and are in excess of Federal Deposit Insurance Corporation insurance limits.

Other Risks

New IAC's business is subject to certain risks and concentrations including dependence on third-party technology providers, exposure to risks associated with online commerce security and credit card fraud.

Property and Equipment

Property and equipment, including significant improvements, are recorded at cost. Repairs and maintenance costs are expensed as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, or, in the case of leasehold improvements, the lease term, if shorter.


Asset Category			Estimated Useful Lives
Buildings and leasehold improvements			3 to 39 Years
Capitalized software and computer equipment			2 to 3 Years
Furniture and other equipment			3 to 12 Years

New IAC capitalizes certain internal use software costs including external direct costs utilized in developing or obtaining the software and compensation for personnel directly associated with the development of the software. Capitalization of such costs begins when the preliminary project stage is complete and ceases when the project is substantially complete and ready for its intended purpose. The net book value of capitalized internal use software is $56.3 million and $38.6 million at December 31, 2019 and 2018, respectively.

Business Combinations

The purchase price of each acquisition is attributed to the assets acquired and liabilities assumed based on their fair values at the date of acquisition, including identifiable intangible assets that either arise from a contractual or legal right or are separable from goodwill. New IAC usually uses the assistance of outside valuation experts to assist in the allocation of purchase price to the identifiable intangible assets acquired. While outside valuation experts may be used, management has ultimate responsibility for the valuation methods, models and inputs used and the resulting purchase price allocation. The excess purchase price over the net tangible and identifiable intangible assets is recorded as goodwill and is assigned to the reporting unit(s) that is expected to benefit from the combination as of the acquisition date.

In connection with certain business combinations, New IAC has entered into contingent consideration arrangements that are determined to be part of the purchase price. Each of these arrangements is initially recorded at its fair value at the time of

the acquisition and reflected at current fair value for each subsequent reporting period thereafter until settled. Generally, our contingent consideration arrangements are based upon financial performance and/or operating metric targets. New IAC generally determines the fair value of the contingent consideration arrangements by using probability-weighted analyses to determine the amounts of the gross liability, and, if the arrangement is long-term in nature, applying a discount rate that appropriately captures the risk associated with the obligation to determine the net amount reflected in the combined financial statements. Significant changes in forecasted earnings or operating metrics would result in a significantly higher or lower fair value measurement. The changes in the remeasured fair value of the contingent consideration arrangements during each reporting period, including the accretion of the discount, if applicable, are recognized in "General and administrative expense" in the accompanying combined statement of operations. See "Note 6—Financial Instruments and Fair Value Measurements" for a discussion of contingent consideration arrangements.

Goodwill and Indefinite-Lived Intangible Assets

New IAC assesses goodwill and indefinite-lived intangible assets for impairment annually as of October 1, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit or the fair value of an indefinite-lived intangible asset below its carrying value.

When New IAC elects to perform a qualitative assessment and concludes it is not more likely than not that the fair value of the reporting unit is less than its carrying value, no further assessment of that reporting unit's goodwill is necessary; otherwise, a quantitative assessment is performed and the fair value of the reporting unit is determined. If the carrying value of the reporting unit exceeds its fair value, an impairment equal to the excess is recorded.

For New IAC's annual goodwill test at October 1, 2019, a qualitative assessment of the ANGI, Vimeo, Mosaic Group (included in the Emerging & Other segment), College Humor Media, Bluecrew and Nursefly reporting units' goodwill was performed because New IAC concluded it was more likely than not that the fair value of these reporting units was in excess of their respective carrying values. The primary factors that New IAC considered in its qualitative assessment for each of these reporting units are described below:

•ANGI's October 1, 2019 market capitalization of $3.6 billion exceeded its carrying value by approximately $2.2 billion.

•New IAC prepared valuations of the Vimeo, Mosaic Group, Bluecrew and Nursefly reporting units primarily in connection with the issuance and/or settlement of equity awards that are denominated in the equity of these businesses subsequent to January 1, 2019. The valuations were prepared time proximate to, however, not as of, October 1, 2019. The fair value of each of these businesses was in excess of its October 1, 2019 carrying value.

New IAC quantitatively tests goodwill for impairment as of October 1 when it concludes that it is more likely than not that there may be an impairment. For New IAC's annual goodwill test at October 1, 2019, New IAC quantitatively tested the Desktop reporting unit (included in the Search segment). New IAC's quantitative test indicated that there was no impairment. New IAC's Dotdash, Ask Media Group and The Daily Beast reporting units have no goodwill.

The aggregate goodwill balance for the Desktop reporting unit for which the most recent estimate of fair value is less than 10% over its carrying value is approximately $265.1 million.

The fair value of New IAC's reporting units (except for ANGI described above) is determined using both an income approach based on discounted cash flows ("DCF") and a market approach when New IAC tests goodwill for impairment, either on an interim basis or annual basis as of October 1 each year. New IAC uses the same approach in determining the fair value of its businesses in connection with its non-public subsidiary denominated stock-based compensation plans, which can be a significant factor in the decision to apply the qualitative assessment rather than a quantitative test. Determining fair value using a DCF analysis requires the exercise of significant judgment with respect to several items, including the amount and timing of expected future cash flows and appropriate discount rates. The expected cash flows used in the DCF analyses are based on New IAC's most recent forecast and budget and, for years beyond the budget, New IAC's estimates, which are based, in part, on forecasted growth rates. The discount rates used in the DCF analyses are intended to reflect the risks inherent in the expected future cash flows of the respective reporting units. Assumptions used in the DCF analyses, including the discount rate, are assessed based on each reporting unit's current results and forecasted future performance, as well as macroeconomic and industry specific factors. The discount rates used in the quantitative test for determining the fair value of New IAC's reporting

units was 12.5% in 2019 and ranged from 12.5% to 15.0% in 2018. Determining fair value using a market approach considers multiples of financial metrics based on both acquisitions and trading multiples of a selected peer group of companies. From the comparable companies, a representative market multiple is determined which is applied to financial metrics to estimate the fair value of a reporting unit. To determine a peer group of companies for our respective reporting units, we considered companies relevant in terms of consumer use, monetization model, margin and growth characteristics, and brand strength operating in their respective sectors.

While New IAC has the option to qualitatively assess whether it is more likely than not that the fair values of its indefinite-lived intangible assets are less than their carrying values, New IAC's policy is to determine the fair value of each of its indefinite-lived intangible assets annually as of October 1, in part, because the level of effort required to perform the quantitative and qualitative assessments is essentially equivalent. New IAC determines the fair value of indefinite-lived intangible assets using an avoided royalty DCF valuation analysis. Significant judgments inherent in this analysis include the selection of appropriate royalty and discount rates and estimating the amount and timing of expected future cash flows. The discount rates used in the DCF analyses are intended to reflect the risks inherent in the expected future cash flows generated by the respective intangible assets. The royalty rates used in the DCF analyses are based upon an estimate of the royalty rates that a market participant would pay to license New IAC's trade names and trademarks. The future cash flows are based on New IAC's most recent forecast and budget and, for years beyond the budget, New IAC's estimates, which are based, in part, on forecasted growth rates. Assumptions used in the avoided royalty DCF analyses, including the discount rate and royalty rate, are assessed annually based on the actual and projected cash flows related to the asset, as well as macroeconomic and industry specific factors. The discount rates used in New IAC's annual indefinite-lived impairment assessment ranged from 11.5% to 27.5% in 2019 and 11.5% to 35% in 2018, and the royalty rates used ranged from 1% to 5.5% in 2019 and 0.75% to 5.5% in 2018.

If the carrying value of an indefinite-lived intangible asset exceeds its estimated fair value, an impairment equal to the excess is recorded. The aggregate carrying value of indefinite-lived intangible assets for which the most recent estimate of the excess of fair value over carrying value is less than 10% is approximately $28.9 million.

The 2019 annual assessment of goodwill and indefinite-lived intangible assets identified a $3.3 million goodwill impairment charge and $0.7 million trade name impairment both related to the College Humor Media business.

The 2018 annual assessment of goodwill did not identify any impairments. The 2018 annual assessment of indefinite-lived intangible assets identified impairment charges of $27.7 million and $1.1 million related to certain Desktop and College Humor Media indefinite-lived trade names, respectively. The indefinite-lived intangible asset impairment charge at Desktop was due to Google's policy changes related to its Chrome browser which became effective on September 12, 2018 and have negatively impacted the distribution of New IAC's B2C downloadable desktop products. The impairment charge related to the B2C trade name was identified in New IAC's annual impairment assessment as of October 1, 2018 and reflects the projected reduction in profits and revenues and the resultant reduction in the assumed royalty rate from these policy changes. The impairment charges are included in "Amortization of intangibles" in the accompanying combined statement of operations.

The 2017 annual assessment of goodwill and indefinite-lived intangible assets did not identify any impairments.

New IAC’s reporting units are consistent with its operating segments except for the Search operating segment, which has two reporting units, Desktop and Ask Media Group, and the Emerging & Other operating segment, which has six reporting units, Mosaic Group, Bluecrew, Nursefly, The Daily Beast, College Humor Media and IAC Films. Goodwill is tested for impairment at the reporting unit level. See "Note 10—Segment Information" for additional information regarding New IAC's method of determining operating and reportable segments.

Long-Lived Assets and Intangible Assets with Definite Lives

Long-lived assets, which consist of ROU assets, property and equipment and intangible assets with definite lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. The carrying value of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If the carrying value is deemed not to be recoverable, an impairment loss is recorded equal to the amount by which the carrying value of the long-lived asset exceeds its fair value. Amortization of definite-lived intangible assets is computed either on a straight-line basis or based on the pattern in which the economic benefits of the asset will be realized.

Fair Value Measurements

New IAC categorizes its financial instruments measured at fair value into a fair value hierarchy that prioritizes the inputs used in pricing the asset or liability. The three levels of the fair value hierarchy are:

•Level 1: Observable inputs obtained from independent sources, such as quoted market prices for identical assets and liabilities in active markets.

•Level 2: Other inputs, which are observable directly or indirectly, such as quoted market prices for similar assets or liabilities in active markets, quoted market prices for identical or similar assets or liabilities in markets that are not active and inputs that are derived principally from or corroborated by observable market data. The fair values of New IAC's Level 2 financial assets are primarily obtained from observable market prices for identical underlying securities that may not be actively traded. Certain of these securities may have different market prices from multiple market data sources, in which case an average market price is used.

•Level 3: Unobservable inputs for which there is little or no market data and require New IAC to develop its own assumptions, based on the best information available in the circumstances, about the assumptions market participants would use in pricing the assets or liabilities. See "Note 6—Financial Instruments and Fair Value Measurements" for a discussion of fair value measurements made using Level 3 inputs.

New IAC's non-financial assets, such as goodwill, intangible assets, ROU assets and property and equipment are adjusted to fair value only when an impairment is recognized. New IAC's financial assets, comprising equity securities without readily determinable fair values, are adjusted to fair value when observable price changes are identified or an impairment is recognized. Such fair value measurements are based predominantly on Level 3 inputs.

Traffic Acquisition Costs

Traffic acquisition costs consist of (i) payments made to partners who direct traffic to our Ask Media Group websites, who distribute our business-to-business customized browser-based applications and who integrate our paid listings into their websites and (ii) the amortization of fees paid to Apple and Google related to the distribution of apps and the facilitation of in-app purchases. These payments include amounts based on revenue share and other arrangements. New IAC expenses these payments in the period incurred as a component of cost of revenue.

Advertising Costs

Advertising costs are expensed in the period incurred (when the advertisement first runs for production costs that are initially capitalized) and represent online marketing, including fees paid to search engines, social media sites and third parties that distribute our B2C downloadable applications, offline marketing, which is primarily television advertising, and partner-related payments to those who direct traffic to the brands within our ANGI segment. Advertising expense is $855.2 million, $798.1 million and $750.5 million for the years ended December 31, 2019, 2018 and 2017, respectively.

New IAC capitalizes and amortizes the costs associated with certain distribution arrangements that require us to pay a fee per access point delivered. These access points are generally in the form of downloadable applications associated with our direct-to consumer operations. These fees are amortized over the estimated useful lives of the access points to the extent New IAC can reasonably estimate a probable future economic benefit and the period over which such benefit will be realized (generally 18 months). Otherwise, the fees are charged to expense as incurred.

Legal Costs

Legal costs are expensed as incurred.

Income Taxes

New IAC accounts for income taxes under the liability method, and deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying values of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided if it is determined that it is more likely than not that the deferred tax asset will not be realized. New IAC records interest, net of any applicable related income tax benefit, on potential income tax contingencies as a component of income tax expense.

New IAC evaluates and accounts for uncertain tax positions using a two-step approach. Recognition (step one) occurs when New IAC concludes that a tax position, based solely on its technical merits, is more-likely-than-not to be sustainable upon examination. Measurement (step two) determines the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. De-recognition of a tax position that was previously recognized would occur when New IAC subsequently determines that a tax position no longer meets the more-likely-than-not threshold of being sustained.

On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (the "Tax Act"). The Tax Act imposes a new minimum tax on global intangible low-taxed income ("GILTI") earned by foreign subsidiaries beginning in 2018. The FASB Staff Q&A, Topic 740 No. 5, Accounting for Global Intangible Low-Taxed Income, states that an entity may make an accounting policy election to either recognize deferred taxes for temporary differences expected to reverse as GILTI in future years or provide for the tax expense related to GILTI in the year the tax is incurred. New IAC has elected to recognize the tax on GILTI as a period expense in the period the tax is incurred.

Foreign Currency Translation and Transaction Gains and Losses

The financial position and operating results of foreign entities whose primary economic environment is based on their local currency are combined using the local currency as the functional currency. These local currency assets and liabilities are translated at the rates of exchange as of the balance sheet date, and local currency revenue and expenses of these operations are translated at average rates of exchange during the period. Translation gains and losses are included in accumulated other comprehensive income as a component of parent's equity. Transaction gains and losses resulting from assets and liabilities denominated in a currency other than the functional currency are included in the combined statement of operations as a component of other income (expense), net. See "Note 15—Combined Financial Statement Details" for additional information regarding foreign currency exchange gains and losses.

Translation gains and losses relating to foreign entities that are liquidated or substantially liquidated are reclassified out of accumulated other comprehensive income (loss) into earnings. Such losses totaled $0.1 million and less than $0.1 million during the years ended December 31, 2018 and 2017, respectively, and were included in "Other income, net" in the accompanying combined statement of operations. There were no such gains or losses for the year ended December 31, 2019.

Stock-Based Compensation

Stock-based compensation is measured at the grant date based on the fair value of the award and is generally expensed over the requisite service period. See "Note 9—Stock-based Compensation" for a discussion of the allocation of expense from Old IAC related to awards issued to New IAC employees that were granted under various Old IAC stock and annual incentive plans.

Redeemable Noncontrolling Interests

Noncontrolling interests in the combined subsidiaries of New IAC are ordinarily reported on the combined balance sheet within parent's equity, separately from New IAC's equity. However, securities that are redeemable at the option of the holder and not solely within the control of the issuer must be classified outside of parent's equity. Accordingly, all noncontrolling interests that are redeemable at the option of the holder are presented outside of parent's equity in the accompanying combined balance sheet.

In connection with the acquisition of certain subsidiaries, management of these businesses has retained an ownership interest. Old IAC is party to fair value put and call arrangements with respect to these interests. These put and call arrangements allow management of these businesses to require Old IAC to purchase their interests or allow Old IAC to acquire such interests at fair value, respectively. These arrangements will be assigned to New IAC following the Separation and are,

therefore, reflected in these combined financial statements as if New IAC were the party to these arrangements. The put arrangements do not meet the definition of a derivative instrument as the put agreements do not provide for net settlement. These put and call arrangements become exercisable by New IAC and the counterparty at various dates in the future. One of these arrangements was exercised during the year ended December 31, 2019 and two of these arrangements were exercised during each of the years ended December 31, 2018 and 2017. These put arrangements are exercisable by the counterparty outside the control of New IAC. Accordingly, to the extent that the fair value of these interests exceeds the value determined by normal noncontrolling interest accounting, the value of such interests is adjusted to fair value with a corresponding adjustment to invested capital. During the years ended December 31, 2019, 2018 and 2017, New IAC recorded adjustments of $11.6 million, $6.6 million and $6.4 million, respectively, to increase these interests to fair value. Fair value determinations require high levels of judgment and are based on various valuation techniques, including market comparables and discounted cash flow projections.

Recent Accounting Pronouncements

Accounting Pronouncement adopted by New IAC

Adoption of ASU No. 2016-02, Leases (Topic 842)

New IAC adopted ASU No. 2016-02, Leases (Topic 842) ("ASC 842") effective January 1, 2019. ASC 842 superseded previously existing guidance on accounting for leases and generally requires all leases to be recognized in the statement of financial position.

The adoption of ASC 842 resulted in the recognition of $119.6 million of ROU assets and related lease liabilities as of January 1, 2019, with no cumulative effect adjustment. The adoption of ASC 842 had no impact on New IAC’s combined results of operations or cash flows.

New IAC adopted ASC 842 prospectively and, therefore, did not revise comparative period information or disclosure. In addition, New IAC elected the package of practical expedients permitted under ASC 842.

See "Note 11—Leases" for additional information on the adoption of ASC 842.

Accounting Pronouncements Not Yet Adopted by New IAC

ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

In June 2016, the FASB issued ASU No. 2016‑13, which significantly changes how entities will measure credit losses for most financial assets, including accounts receivable. ASU No. 2016‑13 replaces the “incurred loss” approach with an “expected loss” model, under which companies will recognize allowances based on expected rather than incurred losses. New IAC adopted ASU No. 2016‑13 on January 1, 2020 using the modified retrospective approach. There was no cumulative effect arising from the adoption of ASU No. 2016‑13. The adoption of 2016‑13 is not expected to have a material impact on New IAC’s financial statements.

ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

In December 2019, the FASB issued ASU No. 2019‑12, which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. The provisions of ASU No. 2019‑12 are effective for reporting periods beginning after December 15, 2020 with early adoption permitted. Most amendments within ASU No. 2019‑12 are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. New IAC adopted ASU No. 2019‑12 on January 1, 2020 using the modified retrospective basis for those amendments that are not applied on a prospective basis. The adoption of ASU No. 2019‑12 will not have a material impact on New IAC’s combined financial statements.

Reclassifications

Certain prior year amounts have been reclassified to conform to the current year presentation.

INCOME TAXES

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

New IAC is included within Old IAC’s tax group for purposes of federal and consolidated state income tax return filings. In all periods presented, current and deferred income tax provision/benefit have been computed for the entities comprising New IAC on an as if standalone, separate return basis. New IAC’s payments to Old IAC for its share of Old IAC’s consolidated federal and state tax return liabilities have been reflected within cash flows from operating activities in the accompanying combined statements of cash flows.

U.S. and foreign (loss) earnings before income taxes and noncontrolling interests are as follows:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
U.S.	$	(74,360)	$	269,267	$	(141,519)
Foreign	46,054		36,304		10,725
Total	$	(28,306)	$	305,571	$	(130,794)

The components of the income tax (benefit) provision are as follows:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Current income tax provision (benefit):
Federal	$	(1,117)	$	(1,187)	$	(29,754)
State	197		1,514		2,262
Foreign	3,201		4,108		(1,175)
Current income tax provision (benefit)	2,281		4,435		(28,667)

Deferred income tax (benefit) provision:
Federal	(51,952)		20,156		(118,744)
State	(10,645)		(7,272)		(6,755)
Foreign	(173)		(4,119)		(1,236)
Deferred income tax (benefit) provision	(62,770)		8,765		(126,735)
Income tax (benefit) provision	$	(60,489)	$	13,200	$	(155,402)

The tax effects of cumulative temporary differences that give rise to significant deferred tax assets and deferred tax liabilities are presented below. The valuation allowance relates to deferred tax assets for which it is more likely than not that the tax benefit will not be realized.


	December 31,
	2019		2018
	(In thousands)
Deferred tax assets:
Net operating loss carryforwards	$	201,766	$	129,500
Stock-based compensation	62,566		64,776
Long-term lease liabilities	42,486		—
Tax credit carryforwards	38,066		34,065
Accrued expenses	12,911		17,577
Other	21,039		16,713
Total deferred tax assets	378,834		262,631
Less: valuation allowance	(92,990)		(86,778)
Net deferred tax assets	285,844		175,853

Deferred tax liabilities:
Investment in subsidiaries	(240,420)		(240,590)
Right-of-use assets	(29,654)		—
Intangible assets	(28,488)		(35,380)
Investment in Pinterest	—		(23,018)
Other	(31,534)		(14,120)
Total deferred tax liabilities	(330,096)		(313,108)
Net deferred tax liabilities	$	(44,252)	$	(137,255)

Upon the Separation, Old IAC's consolidated federal and state tax attributes will be allocated between New IAC and New Match; these tax attributes will be allocated pursuant to the Internal Revenue Code ("IRC") and applicable state law. This allocation will result in the adjustment of New IAC’s net deferred tax liability, which is $44.3 million on an as if standalone, separate return basis to be adjusted as of the effective date of the Separation with a corresponding adjustment to additional paid-in capital. If the Separation had occurred on December 31, 2019, New IAC’s net deferred tax liability would have increased by approximately $10.1 million. The final allocation of tax attributes and resulting adjustment of New IAC’s deferred taxes will be impacted by multiple factors, including, but not limited to, the ultimate date of the Separation and the amount of taxable income or loss generated by the Old IAC consolidated tax group in 2020, the expected year of the Separation.

At December 31, 2019, New IAC has federal and state net operating losses ("NOLs") of $506.3 million and $552.8 million, respectively. These NOLs have been computed on an as if standalone, separate return basis and will be adjusted upon the Separation pursuant to applicable law. If not utilized, the federal NOLs will expire at various times between 2026 and 2037, and the state NOLs, if not utilized, will expire at various times between 2022 and 2039. Federal and state NOLs of $200.9 million and $248.5 million, respectively, can be used against future taxable income without restriction and the remaining NOLs will be subject to limitations under Section 382 of the IRC, separate return limitations, and applicable law. At December 31, 2019, New IAC has foreign NOLs of $337.9 million available to offset future income. Of these foreign NOLs, $311.7 million can be carried forward indefinitely and $26.2 million will expire at various times between 2020 and 2039. During 2019, New IAC recognized tax benefits related to NOLs of $70.8 million. Included in this amount is $26.9 million of tax benefits of acquired attributes, which was recorded as a reduction to goodwill.

At December 31, 2019, New IAC has tax credit carryforwards of $50.2 million. Of this amount, $34.2 million relates to credits for research activities, $13.6 million relates to credits for foreign taxes and $2.4 million relates to various other credits. Of these credit carryforwards, $12.8 million can be carried forward indefinitely and $37.4 million will expire between 2020 and 2039.

New IAC regularly assesses the realizability of deferred tax assets considering all available evidence including, to the extent applicable, the nature, frequency and severity of prior cumulative losses, forecasts of future taxable income, tax filing

status, the duration of statutory carryforward periods, available tax planning and historical experience. At December 31, 2019, New IAC has a U.S. gross deferred tax asset of $277.4 million that New IAC expects to fully utilize on a more likely than not basis. Of this amount, $31.5 million will be utilized upon the reversal of deferred tax liabilities and the remaining net deferred tax asset of $245.9 million will be utilized based on forecasts of future taxable income.

During 2019, New IAC's valuation allowance increased by $6.2 million primarily due to an increase in foreign NOLs, partially offset by a net decrease in unbenefited capital losses. At December 31, 2019, New IAC has a valuation allowance of $93.0 million related to the portion of tax loss carryforwards, foreign tax credits and other items for which it is more likely than not that the tax benefit will not be realized.

A reconciliation of the income tax (benefit) provision to the amounts computed by applying the statutory federal income tax rate to earnings before income taxes is shown as follows:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Income tax (benefit) provision at the federal statutory rate of 21% (35% for 2017)	$	(5,944)	$	64,170	$	(45,778)
State income taxes, net of effect of federal tax benefit	(277)		5,188		(4,856)
Stock-based compensation	(56,871)		(39,326)		(75,895)
Non-deductible executive compensation	7,409		2,983		123
Change in valuation allowance on capital losses	(5,815)		(1,280)		(825)
Non-deductible expenses	5,460		1,727		5,211
Research credit	(5,105)		(3,167)		(4,593)
Withholding taxes	1,008		703		510
Deferred tax adjustment for enacted changes in tax laws and rates	(687)		(13,646)		(68,513)
Foreign income taxed at a different statutory tax rate	(672)		(866)		(6,087)
Transition tax	—		—		46,003
Other, net	1,005		(3,286)		(702)
Income tax (benefit) provision	$	(60,489)	$	13,200	$	(155,402)

A reconciliation of the beginning and ending amount of unrecognized tax benefits, including penalties but excluding interest, is as follows:


	December 31,
	2019		2018		2017
	(In thousands)
Balance at January 1	$	15,451	$	14,528	$	12,766
Additions based on tax positions related to the current year	2,781		1,455		1,399
Additions for tax positions of prior years	238		235		870
Expiration of applicable statutes of limitations	(410)		(767)		(507)
Balance at December 31	$	18,060	$	15,451	$	14,528

New IAC is routinely under audit by federal, state, local and foreign authorities in the area of income tax as a result of previously filed separate company and consolidated tax returns with Old IAC. These audits include questioning the timing and the amount of income and deductions and the allocation of income and deductions among various tax jurisdictions. The Internal Revenue Service ("IRS") is currently auditing Old IAC’s federal income tax returns for the years ended December 31, 2010 through 2016, which includes the operations of New IAC. The statute of limitations for the years 2010 through 2012 has been extended to November 30, 2020 and the statute of limitations for the years 2013 through 2015 has been extended to December 31, 2020. Various other jurisdictions are open to examination for tax years beginning with 2009. Income taxes payable include unrecognized tax benefits that are considered to be sufficient to pay assessments that may result from the

examination of prior year tax returns. We consider many factors when evaluating and estimating our tax positions and tax benefits, which may not accurately anticipate actual outcomes and, therefore, may require periodic adjustment. Although management currently believes changes in unrecognized tax benefits from period to period and differences between amounts paid, if any, upon resolution of issues raised in audits and amounts previously provided will not have a material impact on the liquidity, results of operations, or financial condition of New IAC, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future.

New IAC recognizes interest and, if applicable, penalties related to unrecognized tax benefits in the income tax provision. Included in the income tax provision for the years ended December 31, 2019, 2018 and 2017 is a $0.1 million expense for all three respective years, net of related deferred taxes of less than $0.1 million for all three respective years, for interest on unrecognized tax benefits. At December 31, 2019 and 2018, New IAC has accrued $2.3 million and $1.8 million, respectively, for the payment of interest. At both December 31, 2019 and 2018, New IAC has accrued $0.2 million for penalties.

At December 31, 2019 and 2018, unrecognized tax benefits, including interest and penalties, were $20.3 million and $17.2 million, respectively. Included in unrecognized tax benefits at December 31, 2019 and 2018, is $11.6 million and $9.0 million, respectively, for tax positions included in Old IAC’s consolidated tax return filings. If unrecognized tax benefits at December 31, 2019 are subsequently recognized, $18.9 million, net of related deferred tax assets and interest, would reduce income tax expense. The comparable amount as of December 31, 2018 was $16.1 million. New IAC believes that it is reasonably possible that its unrecognized tax benefits could decrease by $10.6 million by December 31, 2019, due to expirations of statutes of limitations or other settlements; $10.3 million of which would reduce the income tax provision.

On December 22, 2017, the U.S. enacted the Tax Act. The Tax Act subjected to U.S. taxation certain previously deferred earnings of foreign subsidiaries as of December 31, 2017 ("Transition Tax") and implemented a number of changes that took effect on January 1, 2018, including but not limited to, a reduction of the U.S. federal corporate tax rate from 35% to 21% and a new minimum tax on GILTI earned by foreign subsidiaries. New IAC was able to make a reasonable estimate of the Transition Tax and recorded a provisional tax expense in the fourth quarter of 2017. In 2018, New IAC finalized this calculation, which resulted in no adjustment to the Transition Tax.

At December 31, 2019, all of New IAC’s international cash can be repatriated without significant tax consequences.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

BUSINESS COMBINATION

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

BUSINESS COMBINATION

Through the Combination, ANGI acquired 100% of the common stock of Angie's List on September 29, 2017 for a total purchase price valued at $781.4 million.

The purchase price of $781.4 million was determined based on the sum of (i) the fair value of the 61.3 million shares of Angie's List common stock outstanding immediately prior to the Combination based on the closing stock price of Angie's List common stock on the NASDAQ on September 29, 2017 of $12.46 per share; (ii) the cash consideration of $1.9 million paid to holders of Angie's List common stock who elected to receive $8.50 in cash per share; and (iii) the fair value of vested equity awards (including the pro rata portion of unvested awards attributable to pre-combination services) outstanding under Angie's List stock plans on September 29, 2017. Each stock option to purchase shares of Angie's List common stock that was outstanding immediately prior to the effective time of the Combination was, as of the effective time of the Combination, converted into an option to purchase (i) that number of Class A shares of ANGI Homeservices equal to the total number of shares of Angie's List common stock subject to such Angie's List option immediately prior to the effective time of the Combination, (ii) at a per-share exercise price equal to the exercise price per share of Angie's List common stock at which such Angie's List option was exercisable immediately prior to the effective time of the Combination. Each award of Angie's List restricted stock units that was outstanding immediately prior to the effective time of the Combination was, as of the effective time of the Combination, converted into an ANGI Homeservices restricted stock unit award with respect to a number of Class A shares of ANGI Homeservices equal to the total number of shares of Angie's List common stock subject to such Angie's List restricted stock unit award immediately prior to the effective time of the Combination.

The table below summarizes the purchase price:


	Angie's List
	(In thousands)
Class A common stock	$	763,684
Cash consideration for holders who elected to receive $8.50 in cash per share of Angie's List common stock	1,913
Fair value of vested and pro rata portion of unvested stock options attributable to pre-combination services	11,749
Fair value of the pro rata portion of unvested restricted stock units attributable to pre-combination services	4,038
Total purchase price	$	781,384

The financial results of Angie's List are included in New IAC's combined financial statements, within the ANGI Homeservices segment, beginning September 29, 2017. For the year ended December 31, 2017, New IAC included $58.9 million of revenue and $21.8 million of net loss in its combined statement of operations related to Angie's List. The net loss of Angie's List reflects $28.7 million in stock-based compensation expense related to (i) the acceleration of previously issued Angie's List equity awards held by employees terminated in connection with the Combination and (ii) the expense related to previously issued Angie's List equity awards, severance and retention costs of $19.8 million related to the Combination and a reduction in revenue of $7.8 million due to the write-off of deferred revenue related to the Combination.

The table below summarizes the fair values of the assets acquired and liabilities assumed at the date of Combination:


	Angie's List
	(In thousands)
Cash and cash equivalents	$	44,270
Other current assets	11,280
Property and equipment	16,341
Goodwill	543,674
Intangible assets	317,300
Total assets	932,865
Deferred revenue	(32,595)
Other current liabilities	(46,150)
Long-term debt—related party	(61,498)
Deferred income taxes	(9,833)
Other long-term liabilities	(1,405)
Net assets acquired	$	781,384

The purchase price was based on the expected financial performance of Angie's List, not on the value of the net identifiable assets at the time of combination. This resulted in a significant portion of the purchase price being attributed to goodwill because Angie's List is complementary and synergistic to the other North America businesses of ANGI Homeservices.

The fair values of the identifiable intangible assets acquired at the date of Combination are as follows:


	Angie's List
	(In thousands)		Weighted-Average Useful Life (Years)
Indefinite-lived trade name and trademarks	$	137,000	Indefinite
Service professionals	90,500		3
Developed technology	63,900		6
Memberships	15,900		3
User base	10,000		1
Total identifiable intangible assets acquired	$	317,300

Other current assets, current liabilities and other long-term liabilities of Angie's List were reviewed and adjusted to their fair values at the date of combination, as necessary. The fair value of deferred revenue was determined using an income approach that utilized a cost to fulfill analysis. The fair value of the trade name and trademarks was determined using an income approach that utilized the relief from royalty methodology. The fair values of developed technology and user base were determined using a cost approach that utilized the cost to replace methodology. The fair values of the service professionals and memberships were determined using an income approach that utilized the excess earnings methodology. The valuations of deferred revenue and intangible assets incorporate significant unobservable inputs and require significant judgment and estimates, including the amount and timing of future cash flows, cost and profit margins related to deferred revenue and the determination of royalty and discount rates. The amount attributed to goodwill is not tax deductible.

Unaudited Pro Forma Financial Information

The unaudited pro forma financial information in the table below presents the combined results of New IAC and Angie's List as if the Combination had occurred on January 1, 2016. The unaudited pro forma financial information includes adjustments required under the acquisition method of accounting and is presented for informational purposes only and is not necessarily indicative of the results that would have been achieved had the Combination actually occurred on January 1, 2016. For the year ended December 31, 2017, pro forma adjustments include (i) reductions in stock-based compensation expense of $77.1 million and transaction related costs of $34.1 million because they are one-time in nature and will not have a continuing impact on operations; and (ii) an increase in amortization of intangibles of $31.9 million. The stock-based compensation expense is related to the modification of previously issued HomeAdvisor equity awards and previously issued Angie's List equity awards, both of which were converted into ANGI Homeservices' equity awards in the Combination, and the acceleration of certain converted equity awards resulting from the termination of Angie's List employees in connection with the Combination. The transaction related costs include severance and retention costs of $19.8 million related to the Combination.


	Year Ended December 31, 2017
	(In thousands)
Revenue	$	2,174,968
Net earnings attributable to Old IAC equity in IAC Holdings, Inc.	$	96,578

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETSGoodwill and intangible assets, net are as follows:


	December 31,
	2019		2018
	(In thousands)
Goodwill	$	1,616,867	$	1,484,117
Intangible assets with indefinite lives	225,296		227,420
Intangible assets with definite lives, net of accumulated amortization	124,854		166,362
Total goodwill and intangible assets, net	$	1,967,017	$	1,877,899

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the year ended December 31, 2019:


	Balance at December 31, 2018		Additions		(Deductions)		Impairment		Foreign Exchange Translation		Balance at December 31, 2019
	(In thousands)
ANGI Homeservices	$	895,071	$	18,326	$	(29,293)	$	—	$	192	$	884,296
Vimeo	77,152		142,222		—		—		—		219,374
Search	265,146		—		—		—		—		265,146
Emerging & Other	246,748		4,765		—		(3,318)		(144)		248,051
Total	$	1,484,117	$	165,313	$	(29,293)	$	(3,318)	$	48	$	1,616,867

Additions primarily relate to the acquisitions of Magisto (included in the Vimeo segment) and Fixd Repair (included in the ANGI Homeservices segment). Deductions primarily relate to tax benefits of acquired attributes related to the acquisition of Handy (included in the ANGI Homeservices segment). During the fourth quarter of 2019, New IAC recorded an impairment charge of $3.3 million related to the goodwill of the College Humor Media business (included in the Emerging & Other segment).

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the year ended December 31, 2018:


	Balance at December 31, 2017		Additions		(Deductions)		Impairment		Foreign Exchange Translation		Balance at December 31, 2018
	(In thousands)
ANGI Homeservices	$	770,664	$	142,768	$	(14,449)	$	—	$	(3,912)	$	895,071
Vimeo	77,303		—		(151)		—		—		77,152
Search	265,146		—		—		—		—		265,146
Emerging & Other	200,401		54,468		(7,664)		—		(457)		246,748
Total	$	1,313,514	$	197,236	$	(22,264)	$	—	$	(4,369)	$	1,484,117

Additions primarily relate to the acquisitions of Handy (included in the ANGI Homeservices segment), TelTech, iTranslate and Bluecrew (included in the Emerging & Other segment). Deductions relate to the sales of Felix (included in the ANGI Homeservices segment) and Electus (included in the Emerging & Other segment).

Prior to the fourth quarter of 2018, IAC Publishing was a reportable segment consisting of one operating segment and one reporting unit. In the fourth quarter of 2018, IAC Publishing was split into the Dotdash, Ask Media Group (included in the Search segment) and Emerging & Other segments (related to the remaining businesses previously included in the IAC Publishing segment). The accumulated goodwill impairment of IAC Publishing was allocated to these businesses based upon their relative fair values as of October 1, 2018.

The December 31, 2019 and 2018 goodwill balances reflect accumulated impairment losses of $716.2 million and $198.3 million at Search and Dotdash, respectively. The December 31, 2019 and 2018 goodwill balances also reflect accumulated impairment losses of $14.9 million and $11.6 million, respectively, at College Humor Media (included in the Emerging & Other segment).

Intangible assets with indefinite lives are trade names and trademarks acquired in various acquisitions. At December 31, 2019 and 2018, intangible assets with definite lives are as follows:


	December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life (Years)
	(In thousands)
Technology	$	143,255	$	(73,483)	$	69,772	4.5
Service professional relationships	99,651		(76,445)		23,206		2.9
Customer lists and user base	44,286		(24,226)		20,060		3.3
Memberships	15,900		(11,940)		3,960		3.0
Trade names	12,777		(8,082)		4,695		3.5
Other	10,439		(7,278)		3,161		3.4
Total	$	326,308	$	(201,454)	$	124,854	3.7


	December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life (Years)
	(In thousands)
Technology	$	132,588	$	(48,339)	$	84,249	4.6
Service professional relationships	99,528		(44,674)		54,854		2.9
Customer lists and user base	29,829		(14,857)		14,972		2.9
Memberships	15,900		(6,640)		9,260		3.0
Trade names	7,579		(4,579)		3,000		3.9
Other	5,500		(5,473)		27		4.6
Total	$	290,924	$	(124,562)	$	166,362	3.7

At December 31, 2019, amortization of intangible assets with definite lives for each of the next five years and thereafter is estimated to be as follows:


Years Ending December 31,	(In thousands)
2020	$	61,792
2021	26,108
2022	21,830
2023	12,306
2024	1,316
Thereafter	1,502
Total	$	124,854

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

Marketable Securities

New IAC did not hold any marketable securities at December 31, 2019.

At December 31, 2018, the fair values of marketable securities are as follows:


	Year Ended December 31, 2018
	(In thousands)
Available-for-sale marketable debt securities	$	24,947
Marketable equity security	419
Total marketable securities	$	25,366

At December 31, 2018, current available-for-sale marketable debt securities are as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(In thousands)
Treasury discount notes	$	24,947	$	1	$	(1)	$	24,947
Total available-for-sale marketable debt securities	$	24,947	$	1	$	(1)	$	24,947

There were no investments in available-for-sale marketable debt securities that have been in a continuous unrealized loss position for longer than twelve months as of December 31, 2018.

For the years ended December 31, 2019 and 2018, proceeds from maturities of available-for-sale marketable debt securities were $25.0 million and $35.0 million, respectively. There were no gross realized gains or losses from the maturities of available-for-sale marketable debt securities for the years ended December 31, 2019 and 2018.

Long-term Investments

Long-term investments consist of:


	December 31,
	2019		2018
	(In thousands)
Equity securities without readily determinable fair values	$	347,975	$	225,979
Total long-term investments	$	347,975	$	225,979

Equity Securities without Readily Determinable Fair Values

In the third quarter of 2019, New IAC made a $250 million investment in Turo, a peer-to-peer car sharing marketplace. As part of its investment, New IAC received a warrant that is net settleable at New IAC's option and is recorded at fair value each reporting period with any change included in "Other income, net" in the accompany combined statement of operations. The warrant is measured using significant unobservable inputs and is classified in the fair value hierarchy table below as Level 3. The warrant is included in "Other non-current assets" in the accompanying combined balance sheet.

New IAC had an investment in Pinterest, which was carried at fair value following the initial public offering of Pinterest in April 2019. Prior to this, New IAC accounted for its investment in Pinterest as an equity security without a readily determinable fair value. New IAC sold its remaining shares in Pinterest during the fourth quarter of 2019. For the year ended December 31, 2019, New IAC recognized a net gain of $20.5 million related to its investment in Pinterest, which is included in "Other income, net" in the accompanying combined statement of operations.

The following table presents a summary of realized and unrealized gains and losses recorded in "Other income, net", as adjustments to the carrying value of equity securities without readily determinable fair values held as of December 31, 2019 and 2018.


	Years Ended December 31,
	2019		2018
	(In thousands)
Upward adjustments (gross unrealized gains)	$	19,698	$	128,786
Downward adjustments including impairments (gross unrealized losses)	(1,193)		(2,838)
Total	$	18,505	$	125,948

The cumulative upward and downward adjustments (including impairments) to the carrying value of equity securities without readily determinable fair values held at December 31, 2019 were $19.7 million and $0.9 million, respectively.

Realized and unrealized gains and losses for New IAC's marketable equity security and investments without readily determinable fair values for the years ended December 31, 2019 and 2018 are as follows:


	Years Ended December 31, 2018
	2019		2018
	(In thousands)
Realized gains, net, for equity securities sold	$	22,880	$	27,366
Unrealized gains, net, on equity securities held	18,505		126,063
Total gains, net, recognized in other income, net	$	41,385	$	153,429

Equity Method Investments

In 2018 and 2017, New IAC recorded other-than-temporary impairment charges on certain of its investments of $0.6 million and $2.7 million, respectively. These charges are included in "Other income, net" in the accompanying combined statement of operations.

Cost Method Investments (Prior to the Adoption of ASU No. 2016-01)

In 2017, New IAC recorded $7.2 million of other-than-temporary impairment charges for certain of its investments as a result of our assessment of the near-term prospects and financial condition of the investees. This charge is included in "Other income, net" in the accompanying combined statement of operations.

Fair Value Measurements

The following tables present New IAC's financial instruments that are measured at fair value on a recurring basis:


	December 31, 2019
	Quoted Market Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	699,589	$	—	$	—	$	699,589
Time deposits	—		23,075		—		23,075
Other non-current assets:
Warrant	—		—		8,495		8,495
Total	$	699,589	$	23,075	$	8,495	$	731,159

Liabilities:
Contingent consideration arrangements	$	—	$	—	$	(6,918)	$	(6,918)


	December 31, 2018
	Quoted Market Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	616,077	$	—	$	—	$	616,077
Treasury discount notes	—		99,914		—		99,914
Commercial paper	—		52,931		—		52,931
Time deposits	—		15,036		—		15,036
Marketable securities:
Treasury discount notes	—		24,947		—		24,947
Marketable equity security	419		—		—		419
Total	$	616,496	$	192,828	$	—	$	809,324

Liabilities:
Contingent consideration arrangements	$	—	$	—	$	(26,657)	$	(26,657)

The following table presents the changes in New IAC's financial instruments that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3):


	Years Ended December 31,
	2019						2018
	Warrant		Contingent Consideration Arrangements		Contingent Consideration Arrangements
	(In thousands)
Balance at January 1	$	—	$	(26,657)	$	—
Fair value at date of acquisition	17,618		—		(25,521)
Total net (losses) gains:
Included in earnings:
Fair value adjustments	(9,123)		19,739		(1,136)
Balance at December 31	$	8,495	$	(6,918)	$	(26,657)

Contingent Consideration Arrangements

At December 31, 2019, New IAC has one outstanding contingent consideration arrangement related to a business acquisition. The arrangement has a total maximum contingent payment of $45.0 million. At December 31, 2019, the gross fair value of this arrangement, before unamortized discount, is $12.5 million.

Generally, our contingent consideration arrangements are based upon financial performance and/or operating metric targets and New IAC generally determines the fair value of the contingent consideration arrangements by using probability-weighted analyses to determine the amounts of the gross liability, and, if the arrangements are initially long-term in nature, applying a discount rate that appropriately captures the risks associated with the obligation to determine the net amount reflected in the combined financial statements. The fair value of the contingent consideration arrangement at both December 31, 2019 and 2018 reflects a discount rate of 25%.

The fair value of contingent consideration arrangements is sensitive to changes in the expected achievement of the applicable targets and changes in discount rates. New IAC remeasures the fair value of the contingent consideration arrangements each reporting period, including the accretion of the discount, if applicable, and changes are recognized in "General and administrative expense" in the accompanying combined statement of operations. At December 31, 2019 and 2018, the contingent consideration arrangement liability is $6.9 million and $26.7 million, respectively. These amounts are included in "Other long-term liabilities" in the accompanying combined balance sheet.

Financial Instruments Measured at Fair Value Only for Disclosure Purposes

The following table presents the carrying value and the fair value of financial instruments measured at fair value only for disclosure purposes:


	December 31, 2019						December 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
Notes receivable—related party, current	$	55,251	$	55,251	$	—	$	—
Current portion of long-term debt	$	(13,750)	$	(13,681)	$	(13,750)	$	(12,753)
Long-term debt, net ^(a)	$	(231,946)	$	(232,581)	$	(244,971)	$	(229,556)
Long-term debt—related party	$	—	$	—	$	(2,500)	$	(2,529)

_________________

^(a) At December 31, 2019 and 2018, the carrying value of long-term debt, net includes unamortized debt issuance costs of $1.8 million and $2.5 million, respectively.

The fair value of long-term debt, including the current portion, is estimated using observable market prices or indices for similar liabilities, which are Level 2 inputs. The fair value of long-term debt—related party is based on Level 3 inputs and is estimated by discounting the future cash flows based on current market conditions.

LONG-TERM DEBT

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

LONG-TERM DEBT

Long-term debt consists of:


	December 31,
	2019		2018
	(In thousands)
ANGI Term Loan due November 5, 2023	$	247,500	$	261,250
Less: current portion of ANGI Term Loan	13,750		13,750
Less: unamortized debt issuance costs	1,804		2,529
Total long-term debt, net	$	231,946	$	244,971

ANGI Term Loan and ANGI Credit Facility

On November 1, 2017, ANGI borrowed $275 million under a five-year term loan facility ("ANGI Term Loan"). On November 5, 2018, the ANGI Term Loan was amended and restated, and is now due on November 5, 2023. At both December 31, 2019 and 2018, the ANGI Term Loan bears interest at LIBOR plus 1.50%. The spread over LIBOR is subject to change in future periods based on ANGI's consolidated net leverage ratio. The interest rate was 3.25% and 3.98% at December 31, 2019 and 2018, respectively. Interest payments are due at least quarterly through the term of the loan. Additionally, there are quarterly principal payments of $3.4 million through December 31, 2021, $6.9 million for the one-year period ending December 31, 2022 and $10.3 million through maturity of the loan when the final amount of $161.6 million is due.

The terms of the ANGI Term Loan require ANGI to maintain a consolidated net leverage ratio of not more than 4.5 to 1.0 and a minimum interest coverage ratio of not less than 2.0 to 1.0 (in each case as defined in the credit agreement). The ANGI Term Loan also contains covenants that would limit ANGI’s ability to pay dividends, make distributions or repurchase ANGI stock in the event a default has occurred or ANGI’s consolidated net leverage ratio exceeds 4.25 to 1.0. There are additional covenants under the ANGI Term Loan that limit the ability of ANGI and its subsidiaries to, among other things, incur indebtedness, pay dividends or make distributions.

On November 5, 2018, ANGI entered into a five-year $250 million revolving credit facility (the "ANGI Credit Facility"). At December 31, 2019 and 2018, there were no outstanding borrowings under the ANGI Credit Facility. The annual commitment fee on undrawn funds is based on the consolidated net leverage ratio most recently reported and is 25 basis points at both December 31, 2019 and 2018. Borrowings under the ANGI Credit Facility bear interest, at ANGI's option, at either a base rate or LIBOR, in each case plus an applicable margin, which is based on ANGI's consolidated net leverage ratio. The financial and other covenants are the same as those for the ANGI Term Loan.

The ANGI Term Loan and ANGI Credit Facility are guaranteed by ANGI's wholly-owned material domestic subsidiaries and are secured by substantially all assets of ANGI and the guarantors, subject to certain exceptions.

IAC Group Credit Facility

On October 2, 2017, IAC Group, LLC ("IAC Group") entered into a joinder agreement by and among IAC Group, Old IAC, and each of the other parties to the IAC Credit Facility. Pursuant to the joinder agreement, IAC Group became the successor borrower under the IAC Credit Facility and Old IAC's obligations under the credit agreement were terminated. IAC Group is included within these combined financial statements and will become a subsidiary of New IAC upon the consummation of the Separation.

At December 31, 2019, IAC Group has a $250 million revolving credit facility (the "IAC Group Credit Facility"), that expires on November 5, 2023. At December 31, 2019 and 2018, there were no outstanding borrowings under the IAC Group Credit Facility. The annual commitment fee on undrawn funds is based on the consolidated net leverage ratio (as defined in the agreement) most recently reported, and is 20 basis points at both December 31, 2019 and 2018. Borrowings under the IAC

Group Credit Facility bear interest, at IAC Group's option, at a base rate or LIBOR, in each case, plus an applicable margin, which is based on IAC Group's consolidated net leverage ratio. The terms of the IAC Group Credit Facility require that IAC Group maintains a consolidated net leverage ratio of not more than 3.25 to 1.0 before the date on which IAC Group no longer holds majority of the outstanding voting stock of ANGI ("Trigger Date") and no greater than 2.75 to 1.0 on or after the Trigger Date. The terms of the IAC Group Credit Facility also restrict IAC Group's ability to incur additional indebtedness. Borrowings under the IAC Group Credit Facility are unconditionally guaranteed by certain of our wholly-owned domestic subsidiaries and are also secured by the stock of certain of our domestic and foreign subsidiaries, including the shares of Match Group and ANGI owned by IAC Group. Following the Separation, Match Group will no longer secure the IAC Group Credit Facility.

Maturities of long-term debt liabilities as of December 31, 2019 (in thousands):


Years Ending December 31,
2020	$	13,750
2021	13,750
2022	27,500
2023	192,500
Total	247,500
Less: current portion of long-term debt	13,750
Less: unamortized debt issuance costs	1,804
Total long-term debt, net	$	231,946

ACCUMULATED OTHER COMPREHENSIVE LOSS

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

The following tables present the components of accumulated other comprehensive (loss) income and items reclassified out of accumulated other comprehensive loss into earnings:


	Year Ended December 31, 2019
	Foreign Currency Translation Adjustment		Unrealized Gains On Available-For-Sale Marketable Debt Securities		Accumulated Other Comprehensive (Loss) Income
	(In thousands)
Balance at January 1	$	(12,543)	$	2	$	(12,541)
Other comprehensive income (loss)	337		(2)		335
Net current period other comprehensive income (loss)	337		(2)		335
Allocation of accumulated other comprehensive loss related to the noncontrolling interests	(20)		—		(20)
Balance at December 31	$	(12,226)	$	—	$	(12,226)


	Year Ended December 31, 2018
	Foreign Currency Translation Adjustment		Unrealized Gains On Available-For-Sale Marketable Debt Securities		Accumulated Other Comprehensive Loss
	(In thousands)
Balance at January 1	$	(7,504)	$	—	$	(7,504)
Other comprehensive (loss) income before reclassifications	(4,976)		2		(4,974)
Amounts reclassified to earnings	(52)		—		(52)
Net current period other comprehensive (loss) income	(5,028)		2		(5,026)
Allocation of accumulated other comprehensive loss related to noncontrolling interests	(11)		—		(11)
Balance at December 31	$	(12,543)	$	2	$	(12,541)


	Year Ended December 31, 2017
	Foreign Currency Translation Adjustment		Accumulated Other Comprehensive (Loss) Income
	(In thousands)
Balance at January 1	$	(21,864)	$	(21,864)
Other comprehensive income before reclassifications	14,408		14,408
Amounts reclassified to earnings	(41)		(41)
Net current period other comprehensive income	14,367		14,367
Allocation of accumulated other comprehensive loss related to noncontrolling interests	(7)		(7)
Balance at December 31	$	(7,504)	$	(7,504)

The amounts reclassified out of foreign currency translation adjustment into earnings for the years ended December 31, 2018 and 2017 relate to the liquidation of international subsidiaries.

At December 31, 2019, 2018 and 2017, there was no tax benefit of provision on the accumulated other comprehensive loss.

STOCK-BASED COMPENSATION	12 Months Ended
STOCK-BASED COMPENSATION	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The equity awards described below principally relate to awards issued by certain of our subsidiaries (including awards assumed in acquisitions, including the Combination) and an allocation of expense from Old IAC related to awards issued to New IAC employees that were granted under various Old IAC stock and annual incentive plans. The form of awards granted to New IAC employees are principally stock options, restricted stock units ("RSUs"), including those that are linked to the achievement of Old IAC's stock price, known as market-based awards ("MSUs") and those that are linked to the achievement of a performance target, known as performance-based awards ("PSUs"). The amount of stock-based compensation expense recognized in the combined statement of operations is net of estimated forfeitures. The forfeiture rate is estimated at the grant date based on historical experience and revised, if necessary, in subsequent periods if actual forfeitures differ from the estimated rate. The expense ultimately recorded is for the awards that vest. At December 31, 2019, there is $158.3 million of unrecognized compensation cost, net of estimated forfeitures, related to all equity-based awards, which is expected to be recognized over a weighted average period of approximately 2.2 years. The total income tax benefit recognized in the accompanying combined statement of operations for the years ended December 31, 2019, 2018 and 2017 related to all stock-based compensation is $82.4 million, $80.7 million and $124.2 million, respectively. The aggregate income tax benefit recognized related to the exercise of stock options for the years ended December 31, 2019, 2018 and 2017, is $64.2 million, $63.6 million and $95.1 million, respectively. As New IAC is currently in an NOL position, there will be some delay in the timing of the realization of the cash benefit of the income tax deductions related to stock-based compensation because it will be dependent upon the amount and timing of future taxable income and the timing of estimated income tax payments. Old IAC Denominated Stock Options The fair value of stock option awards, with the exception of market-based awards, is estimated on the grant date using the Black-Scholes option pricing model. The grant date fair value of market-based awards is estimated using a lattice model that incorporates a Monte Carlo simulation of Old IAC's stock price. Broad-based stock option awards issued to date have generally vested in equal annual installments over a 4-year period from the grant date. The aggregate intrinsic value, calculated as the difference between Old IAC's closing stock price on the last trading day of 2019 and the exercise price, multiplied by the number of in-the-money awards that would have been exercised had all award holders exercised their awards, on December 31, 2019 is $871.8 million. In connection with the Separation, Old IAC denominated stock options that are outstanding as of December 19, 2019, and immediately prior to the completion of the Transactions, will be converted into stock options to purchase common stock of New IAC and stock options to purchase New Match common stock in a manner that preserves the spread value of the stock options immediately before and immediately after the adjustment, with the allocation between the two stock options based on the value of a share of New IAC common stock relative to the value of a share of New Match common stock multiplied by the Reclassification Exchange Ratio. Old IAC denominated stock options that are granted on or after December 20, 2019 and outstanding immediately prior to the completion of the Transactions, will be converted into stock options to purchase New IAC common stock on the same terms and conditions applicable to the existing equity award, with equitable adjustments to the number of shares of New IAC common stock covered by the option and the applicable option exercise price. Assuming all stock options outstanding on December 31, 2019, were net settled on that date, withholding taxes, which will be paid by Old IAC for periods prior to the Separation and New IAC and New Match for periods subsequent to the Separation on behalf of the employees upon exercise, would have been $435.9 million in aggregate (of which $345.8 million is related to vested stock options and $90.1 million is related to unvested stock options) assuming a 50% withholding rate. Old IAC Denominated Restricted Stock Units, Market-based Stock Units and Performance-based Stock Units RSUs, MSUs and PSUs are awards in the form of phantom shares or units denominated in a hypothetical equivalent number of shares of Old IAC common stock and with the value of each RSU and PSU equal to the fair value of Old IAC common stock at the date of grant. The value of each MSU is estimated using a lattice model that incorporates a Monte Carlo simulation of Old IAC's stock price. Each RSU and PSU grant is subject to service-based vesting, where a specific period of continued employment must pass before an award vests. PSUs also include performance-based vesting, where certain performance targets set at the time of grant must be achieved before an award vests. The vesting of MSUs is tied to the stock price of Old IAC. For RSU grants, the expense is measured at the grant date as the fair value of Old IAC common stock and expensed as stock-based compensation over the vesting term. MSU grants are expensed over the shorter of the vesting period or the derived service period. For PSU grants, the expense is measured at the grant date as the fair value of Old IAC common stock and expensed as stock-based compensation over the vesting term if the performance targets are considered probable of being achieved. RSUs currently outstanding generally vest in either equal annual installments over a four-year period or cliff-vest after a three-year period, in each case, from the grant date. MSUs currently outstanding cliff-vest after the market condition has been met either within a three-year or five-year period from the date of grant. The aggregate intrinsic value of all RSUs and MSUs outstanding on December 31, 2019 is $91.6 million; assuming these awards were net settled on December 31, 2019, the withholding taxes that would be payable, which will be paid by Old IAC for periods prior to the Separation and New IAC for periods subsequent to the Separation on behalf of the employees upon net settlement would be $45.8 million, assuming a 50% withholding rate, and Old IAC would have issued 0.2 million common shares. There were no PSUs outstanding on December 31, 2019. Equity Instruments Denominated in the Shares of Certain Subsidiaries ANGI In connection with the Combination, previously issued stock appreciation rights related to the common stock of HomeAdvisor (US) were converted into ANGI stock appreciation rights that are settleable, at ANGI's option, on a net basis with ANGI remitting withholding taxes on behalf of the employee or on a gross basis with ANGI issuing a sufficient number of Class A shares to cover the withholding taxes. While these awards can be settled in either Class A shares of ANGI or shares of Old IAC common stock at Old IAC’s option, these awards are currently being settled in shares of ANGI. The aggregate intrinsic value of these awards outstanding at December 31, 2019 is $114.6 million; assuming these awards were net settled on December 31, 2019, the withholding taxes that would be payable is $57.3 million, assuming a 50% withholding rate, and ANGI would have issued 6.8 million Class A shares. The aggregate intrinsic value of all other ANGI equity awards, including stock options, RSUs and subsidiary denominated equity at December 31, 2019 is $86.8 million; assuming these awards were net settled on December 31, 2019, the withholding taxes that would be payable is $43.4 million, assuming a 50% withholding rate, and ANGI would have issued 5.1 million Class A shares. Prior to the Separation, certain ANGI equity awards could be settled either in Old IAC common shares or the common shares of ANGI at Old IAC's election. If settled in Old IAC common stock, ANGI reimbursed Old IAC in either cash or through the issuance of Class A shares to Old IAC. Subsequent to the Separation, this right shall be assigned to New IAC. Prior to the Combination in 2017, Old IAC issued a number of Old IAC denominated PSUs to certain ANGI employees. Vesting of the PSUs was contingent upon ANGI's performance for the year ended December 31, 2019. These awards did not vest because the performance conditions were not achieved. Non-publicly-traded Subsidiaries Historically, Old IAC has granted stock settled stock appreciation rights to employees and management that are denominated in the equity of certain non-publicly traded subsidiaries comprising New IAC. These equity awards vest over a period of years or upon the occurrence of certain prescribed events. The value of the stock settled stock appreciation rights is tied to the value of the common stock of these subsidiaries. Accordingly, these interests only have value to the extent the relevant business appreciates in value above the initial value utilized to determine the exercise price. These interests can have significant value in the event of significant appreciation. The fair value of these interest is generally determined by negotiation or arbitration, when settled; which will occur at various dates through 2026. Prior to the Separation, these equity awards have been and will be settled on a net basis, with the award holder entitled to receive Old IAC shares equal to the intrinsic value of the award upon settlement less an amount equal to the required cash tax withholding payment, which has been and will be paid by Old IAC. Subsequent to the Separation, these equity awards will continue to be settled on a net basis, with the award holder entitled to receive New IAC shares rather than Old IAC shares equal to the intrinsic value of the award upon settlement less an amount equal to the required cash tax withholding payment, which will be paid by New IAC. The expense associated with these equity awards is initially measured at fair value at the grant date and is expensed as stock-based compensation over the vesting term. The aggregate intrinsic value of these awards outstanding at December 31, 2019 is $40.5 million; assuming these awards were net settled on December 31, 2019, the withholding taxes that would be payable is $20.2 million, assuming a 50% withholding rate, and Old IAC would have issued 0.1 million common shares. To the extent these awards are settled subsequent to the Separation, the number of New IAC shares ultimately needed to settle these awards and the cash withholding tax obligation may vary significantly as a result of the determination of the fair value of the relevant subsidiary. In addition, the number of New IAC shares required to settle these awards will be impacted by movement in New IAC’s stock price. Modification of Awards During 2019, New IAC modified certain equity awards and recognized modification charges of $13.1 million. During 2018, New IAC modified certain equity awards and recognized modification charges of $7.9 million. In addition, in connection with the ANGI chief executive officer transition during the fourth quarter of 2018, ANGI accelerated $3.9 million of expense into 2018 from 2019. In connection with the Combination, the previously issued HomeAdvisor (US) stock appreciation rights were converted into ANGI equity awards resulting in a modification charge of $217.7 million of which $29.0 million, $56.9 million and $93.4 million were recognized as stock-based compensation expense in the years ended December 31, 2019, 2018 and 2017, respectively, and the remaining charge will be recognized over the vesting period of the modified awards. During the second quarter of 2017, New IAC modified certain HomeAdvisor (US) denominated equity awards and recognized a modification charge of $6.6 million.

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

SEGMENT INFORMATION

The overall concept that New IAC employs in determining its operating segments is to present the financial information in a manner consistent with: how the chief operating decision maker views the businesses; 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, 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:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Revenue:
ANGI Homeservices	$	1,326,205	$	1,132,241	$	736,386
Vimeo	196,015		159,641		103,332
Dotdash	167,594		130,991		90,890
Search	742,184		823,950		738,474
Emerging & Other	274,107		286,586		284,132
Inter-segment elimination	(304)		(361)		(607)
Total	$	2,705,801	$	2,533,048	$	1,952,607

The following table presents the revenue of New IAC's segments disaggregated by type of service:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
ANGI Homeservices
Marketplace:
Consumer connection revenue	$	913,533	$	704,341	$	521,481
Service professional membership subscription revenue	64,706		66,214		56,135
Other revenue	6,971		3,940		3,798
Total Marketplace revenue	985,210		774,495		581,414
Advertising and other revenue	264,682		287,676		97,483
Total North America revenue	1,249,892		1,062,171		678,897
Consumer connection revenue	59,611		50,913		40,009
Service professional membership subscription revenue	14,231		17,362		16,596
Advertising and other revenue	2,471		1,795		884
Total Europe revenue	76,313		70,070		57,489
Total ANGI Homeservices revenue	$	1,326,205	$	1,132,241	$	736,386

Vimeo
Platform revenue	$	193,736	$	146,665	$	99,650
Hardware revenue	2,279		12,976		3,682
Total Vimeo revenue	$	196,015	$	159,641	$	103,332

Dotdash
Display advertising revenue	$	126,487	$	103,704	$	76,316
Performance marketing revenue	41,107		27,287		14,574
Total Dotdash revenue	$	167,594	$	130,991	$	90,890

Search
Advertising revenue:
Google advertising revenue	$	678,438	$	770,494	$	689,633
Non-Google advertising revenue	47,556		31,975		13,553
Total advertising revenue	725,994		802,469		703,186
Other revenue	16,190		21,481		35,288
Total Search revenue	$	742,184	$	823,950	$	738,474


Emerging & Other
Subscription revenue	$	194,362	$	102,592	$	25,554
Marketplace revenue	38,950		19,665		—
Service revenue	3,881		22,142		27,465
Advertising revenue:
Non-Google advertising revenue	23,372		64,319		74,990
Google advertising revenue	4,486		14,393		16,716
Total advertising revenue	27,858		78,712		91,706
Media production and distribution revenue	8,897		61,717		138,006
Other revenue	159		1,758		1,401
Total Emerging & Other revenue	$	274,107	$	286,586	$	284,132

Revenue by geography is based on where the customer is located. Geographic information about revenue and long-lived assets is presented below:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Revenue:
United States	$	2,097,743	$	1,951,957	$	1,569,275
All other countries	608,058		581,091		383,332
Total	$	2,705,801	$	2,533,048	$	1,952,607


	December 31,
	2019		2018
	(In thousands)
Long-lived assets (excluding goodwill and intangible assets):
United States	$	297,433	$	254,751
All other countries	7,981		5,697
Total	$	305,414	$	260,448

The following tables present operating income (loss) and Adjusted EBITDA by reportable segment:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Operating income (loss):
ANGI Homeservices	$	38,645	$	63,906	$	(149,176)
Vimeo	(51,921)		(35,594)		(27,328)
Dotdash	29,021		18,778		(15,694)
Search	122,347		151,425		153,986
Emerging & Other	(21,790)		(26,627)		(780)
Corporate	(166,751)		(136,053)		(125,640)
Total	$	(50,449)	$	35,835	$	(164,632)


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Adjusted EBITDA:^(a)
ANGI Homeservices	$	202,297	$	247,506	$	37,858
Vimeo	$	(41,790)	$	(28,045)	$	(23,607)
Dotdash	$	39,601	$	21,384	$	(2,763)
Search	$	124,163	$	182,905	$	162,023
Emerging & Other	$	(28,368)	$	(14,889)	$	2,124
Corporate	$	(88,617)	$	(74,011)	$	(67,748)

_______________________________________________________________________________

(a) New IAC's primary financial 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. New IAC believes this measure is useful for analysts and investors as this measure allows a more meaningful comparison between our performance and that of our competitors. The above items are excluded from our Adjusted EBITDA measure because these items are non-cash in nature. Adjusted EBITDA has certain limitations because it excludes the impact of these expenses.

The following tables reconcile operating income (loss) for New IAC's reportable segments and net earnings attributable to Old IAC equity in IAC Holdings, Inc. to Adjusted EBITDA:


	Year Ended December 31, 2019
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Goodwill Impairment		Acquisition-related Contingent Consideration Fair Value Adjustments		Adjusted EBITDA
	(In thousands)
ANGI Homeservices	$	38,645	$	68,255	$	39,915	$	55,482	$	—	$	—	$	202,297
Vimeo	(51,921)		$	—	$	478	$	9,653	$	—	$	—	$	(41,790)
Dotdash	29,021		$	—	$	974	$	9,606	$	—	$	—	$	39,601
Search	122,347		$	—	$	1,816	$	—	$	—	$	—	$	124,163
Emerging & Other	(21,790)		$	—	$	715	$	9,127	$	3,318	$	(19,738)	$	(28,368)
Corporate	(166,751)		$	66,083	$	12,051	$	—	$	—	$	—	$	(88,617)
Total	(50,449)
Interest expense—third party	(11,904)
Interest income, net—related party	420
Other income, net	33,627
Loss before income taxes	(28,306)
Income tax benefit	60,489
Net earnings	32,183
Net earnings attributable to noncontrolling interests	(9,288)
Net earnings attributable to Old IAC equity in IAC Holdings, Inc.	$	22,895


	Year Ended December 31, 2018
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Adjustments		Adjusted EBITDA
	(In thousands)
ANGI Homeservices	$	63,906	$	97,078	$	24,310	$	62,212	$	—	$	247,506
Vimeo	(35,594)		$	—	$	1,200	$	6,349	$	—	$	(28,045)
Dotdash	18,778		$	—	$	969	$	1,637	$	—	$	21,384
Search	151,425		$	—	$	3,311	$	28,169	$	—	$	182,905
Emerging & Other	(26,627)		$	919	$	969	$	8,714	$	1,136	$	(14,889)
Corporate	(136,053)		$	50,408	$	11,634	$	—	$	—	$	(74,011)
Total	35,835
Interest expense—third party	(13,059)
Interest income, net—related party	325
Other income, net	282,470
Earnings before income taxes	305,571
Income tax provision	(13,200)
Net earnings	292,371
Net earnings attributable to noncontrolling interests	(45,599)
Net earnings attributable to Old IAC equity in IAC Holdings, Inc.	$	246,772


	Year Ended December 31, 2017
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Adjustments		Adjusted EBITDA
	(In thousands)
ANGI Homeservices	$	(149,176)	$	149,230	$	14,543	$	23,261	$	—	$	37,858
Vimeo	(27,328)		$	—	$	1,408	$	2,313	$	—	$	(23,607)
Dotdash	(15,694)		$	—	$	2,255	$	10,676	$	—	$	(2,763)
Search	153,986		$	—	$	6,026	$	2,011	$	—	$	162,023
Emerging & Other	(780)		$	401	$	1,066	$	889	$	548	$	2,124
Corporate	(125,640)		$	42,374	$	15,518	$	—	$	—	$	(67,748)
Total	(164,632)
Interest expense—third party	(2,181)
Interest income, net—related party	23,656
Other income, net	12,363
Loss before income taxes	(130,794)
Income tax benefit	155,402
Net earnings	24,608
Net loss attributable to noncontrolling interests	12,398
Net earnings attributable to Old IAC equity in IAC Holdings, Inc.	$	37,006

The following table presents capital expenditures by reportable segment:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Capital expenditures:
ANGI Homeservices	$	68,804	$	46,976	$	26,837
Vimeo	2,801		209		109
Dotdash	—		102		825
Search	43		479		251
Emerging & Other	387		751		291
Corporate	25,863		6,163		17,840
Total	$	97,898	$	54,680	$	46,153

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

LEASES

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

LEASES

New IAC leases land, office space, data center facilities and equipment used in connection with its operations under various operating leases, the majority of which contain escalation clauses.

ROU assets represent New IAC’s right to use the underlying assets for the lease term and lease liabilities represent the present value of New IAC’s obligation to make payments arising from these leases. ROU assets and related lease liabilities are based on the present value of fixed lease payments over the lease term using New IAC's and its publicly-traded subsidiary respective incremental borrowing rates on the lease commencement date or January 1, 2019 for leases that commenced prior to that date. New IAC combines the lease and non-lease components of lease payments in determining ROU assets and related lease liabilities. If the lease includes one or more options to extend the term of the lease, the renewal option is considered in the lease term if it is reasonably certain New IAC will exercise the option(s). Lease expense is recognized on a straight-line basis over the term of the lease. As permitted by ASC 842, leases with an initial term of twelve months or less ("short-term leases") are not recorded on the accompanying combined balance sheet.

Variable lease payments consist primarily of common area maintenance, utilities and taxes, which are not included in the recognition of ROU assets and related lease liabilities. New IAC’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Leases

Balance Sheet Classification

December 31, 2019

(In thousands)

Assets:

Right-of-use assets

Right-of-use assets, net

138,608

Liabilities:

Current lease liabilities

Accrued expenses and other current liabilities

23,188

Long-term lease liabilities

Other long-term liabilities

168,321

Total lease liabilities

191,509

Lease Expense

Income Statement Classification

Year Ended December 31, 2019

(In thousands)

Fixed lease expense

Cost of revenue

547

Fixed lease expense

Selling and marketing expense

10,613

Fixed lease expense

General and administrative expense

17,751

Fixed lease expense

Product development expense

1,502

Total fixed lease expense ^(a)

30,413

Variable lease expense

Cost of revenue

Variable lease expense

Selling and marketing expense

1,573

Variable lease expense

General and administrative expense

5,729

Variable lease expense

Product development expense

391

Total variable lease expense

7,776

Net lease expense

38,189

_____________________

^(a)Includes approximately $2.2 million of short-term lease expense and $7.6 million of sublease income for the year ended December 31, 2019.

Maturities of lease liabilities as of December 31, 2019 (in thousands) ^(b):


Years Ended December 31,
2020	$	32,688
2021	30,200
2022	27,543
2023	25,838
2024	23,318
Thereafter	221,479
Total	361,066
Less: interest	169,557
Present value of lease liabilities	$	191,509

_____________________

^(b) Lease payments exclude $37.3 million of legally binding minimum lease payments for leases signed but not yet commenced.

The following are the weighted average assumptions used for lease term and discount rate as of December 31, 2019:


Remaining lease term	17.4 years
Discount rate	6.12	%


	Year Ended December 31, 2019
	(In thousands)
Other Information:
Right-of-use assets obtained in exchange for lease liabilities	$	61,657
Cash paid for amounts included in the measurement of lease liabilities	$	35,321

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

Commitments

New IAC has entered into certain off-balance sheet commitments that require the future purchase of services ("purchase obligations"). Future payments under noncancelable unconditional purchase obligations as of December 31, 2019 are as follows:


	Amount of Commitment Expiration Per Period
	Less Than 1 Year		1-3 Years		3-5 Years		More Than 5 Years		Total Amounts Committed
	(In thousands)
Purchase obligations	$	75,243	$	41,423	$	—	$	—	$	116,666

Purchase obligations include New IAC's allocable share of Old IAC's $150.0 million three-year cloud computing contract, of which Old IAC paid $50.0 million in 2019 and New IAC had a related prepaid asset of $8.7 million included in "Other current assets" on the combined balance sheet at December 31, 2019. Following the Separation, $20.0 million of the remaining obligation will be assigned to New IAC and $80.0 million will be assigned to Match Group. New IAC's two remaining minimum payments of $10.0 million each will be due in 2020 and 2021. Purchase obligations also include (i) remaining payments of $59.3 million related to a two year cloud computing contract, which $40.9 million and $18.3 million are estimated to be paid in 2020 and 2021, respectively, (ii) remaining payments of $23.8 million related to advertising commitments to be made in 2020, and (iii) a remaining payment of $13.1 million related to the purchase of a 50% interest in a corporate aircraft that is expected to be made in 2021.

Contingencies

In the ordinary course of business, New IAC is a party to various lawsuits. New IAC establishes reserves for specific legal matters when it determines that the likelihood of an unfavorable outcome is probable and the loss is reasonably estimable. Management has also identified certain other legal matters where we believe an unfavorable outcome is not probable and, therefore, no reserve is established. Although management currently believes that resolving claims against us, including claims where an unfavorable outcome is reasonably possible, will not have a material impact on the liquidity, results of operations, or financial condition of New IAC, these matters are subject to inherent uncertainties and management's view of these matters may change in the future. New IAC also evaluates other contingent matters, including income and non-income tax contingencies, to assess the likelihood of an unfavorable outcome and estimated extent of potential loss. It is possible that an unfavorable outcome of one or more of these lawsuits or other contingencies could have a material impact on the liquidity, results of operations, or financial condition of New IAC. See "Note 3—Income Taxes" for additional information related to income tax contingencies.

Tinder Optionholder Litigation against IAC and Match Group

On August 14, 2018, ten then-current and former employees of Match Group, LLC or Tinder, Inc. ("Tinder"), an operating business of Match Group, filed a lawsuit in New York state court against IAC and Match Group. See Sean Rad et al. v. IAC/InterActiveCorp and Match Group, Inc., No. 654038/2018 (Supreme Court, New York County). The complaint alleges that in 2017, the defendants: (i) wrongfully interfered with a contractually established process for the independent valuation of Tinder by certain investment banks, resulting in a substantial undervaluation of Tinder and a consequent underpayment to the plaintiffs upon exercise of their Tinder stock options, and (ii) then wrongfully merged Tinder into Match Group, thereby depriving certain of the plaintiffs of their contractual right to later valuations of Tinder on a stand-alone basis. The complaint asserts claims for breach of contract, breach of the implied covenant of good faith and fair dealing, unjust enrichment, interference with contractual relations (as against Match Group only), and interference with prospective economic advantage, and seeks compensatory damages in the amount of at least $2 billion, as well as punitive damages. On August 31, 2018, four plaintiffs who were still employed by Match Group filed a notice of discontinuance of their claims without prejudice, leaving the six former employees as the remaining plaintiffs.

On October 9, 2018, the defendants filed a motion to dismiss the complaint on various grounds, including that the 2017 valuation of Tinder by the investment banks was an expert determination any challenge to which is both time-barred under

applicable law and available only on narrow substantive grounds that the plaintiffs have not pleaded in their complaint; the plaintiffs opposed the motion. On June 13, 2019, the court issued a decision and order (i) granting the motion to dismiss the claims for breach of the implied covenant of good faith and fair dealing and for unjust enrichment, (ii) granting the motion to dismiss the merger-related claim for breach of contract as to two of the remaining six plaintiffs, and (iii) otherwise denying the motion to dismiss. On June 21, 2019, the defendants filed a notice of appeal from the trial court’s partial denial of their motion to dismiss, and the parties thereafter briefed the appeal. On October 29, 2019, the Appellate Division, First Department, issued an order affirming the lower court’s decision. On November 22, 2019, the defendants filed a motion for reargument or, in the alternative, leave to appeal the Appellate Division's order to the New York Court of Appeals; the plaintiffs opposed the motion, which remains pending.

On June 3, 2019, the defendants filed a second motion to dismiss based upon certain provisions of the plaintiffs' agreement with a litigation funding firm; the plaintiffs have opposed the motion, which remains pending. Document discovery in the case is substantially complete, and deposition discovery is underway. On January 30, 2020, the parties participated in a mediation that did not result in resolution of the matter. IAC and Match Group believe that the allegations in this lawsuit are without merit and will continue to defend vigorously against it.

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2019

RELATED PARTY TRANSACTIONS

Relationship with Old IAC prior to the Separation

New IAC’s combined statement of operations includes allocations of costs, including stock-based compensation expense, related to IAC’s accounting, treasury, legal, tax, corporate support and internal audit functions. To the extent applicable, Old IAC has historically allocated costs related to its accounting, treasury, legal, tax, corporate support and internal audit functions that are incurred at the Old IAC legal entity level to its publicly traded subsidiaries, Match Group and ANGI Homeservices, including HomeAdvisor for periods prior to the Combination, based upon time spent or other cost drivers, such as revenue, number of legal entities or transaction volume, in their standalone financial statements. For periods subsequent to the Match Group IPO in November 2015 and the Combination in September 2017, Old IAC billed Match Group and ANGI Homeservices for any services provided under the applicable services agreements. The remaining unallocated expenses of Old IAC related to its accounting, treasury, legal, tax, corporate support and internal audit functions were allocated to New IAC based upon time spent or other cost drivers, such as revenue, number of legal entities or transaction volume. Allocated costs, inclusive of stock-based compensation expense, were $146.0 million, $178.2 million and $126.7 million, in 2019, 2018 and 2017, respectively. It is not practicable to determine the actual expenses that would have been incurred for these services had New IAC operated as a standalone entity during the periods presented. Management considers the allocation method to be reasonable.

The portion of interest income reflected in the combined statement of operations that is related party in nature, was $0.4 million, $0.3 million and $23.7 million, for the years ended December 31, 2019, 2018 and 2017, respectively, and is included in “Interest income, net” in the table below.

The following table summarizes the components of the net decrease (increase) in Old IAC’s investment in IAC Holdings, Inc. for the years ended December 31, 2019, 2018 and 2017:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Cash transfers (from) to Old IAC related to its centrally managed U.S. treasury function, acquisitions and cash expenses paid by Old IAC on behalf of IAC Holdings, Inc., net	$	(182,382)	$	215,993	$	(21,058)
Taxes	(1,874)		1,120		44,798
Interest income, net	420		325		23,656
Allocation of costs from Old IAC	(80,143)		(71,977)		(62,180)
Net (increase) decrease in Old IAC's investment in IAC Holdings, Inc.	$	(263,979)	$	145,461	$	(14,784)

Notes Receivable—Related Party

During 2019, New IAC, through two domestic subsidiaries, entered into loan agreements with Old IAC for cash transfers to Old IAC under its centrally managed U.S. treasury function. The outstanding receivable at December 31, 2019 is $55.3 million and bears interest at a rate per annum equal to the Monthly Short-Term Applicable Federal Rate and is due on demand. The interest rate at December 31, 2019 was 1.59%.

Long-term Debt—Related Party

On December 14, 2018, New IAC, through a domestic subsidiary, entered into a loan with Old IAC for up to an amount not to exceed $15.0 million for general working capital purposes in the ordinary course of business. During the first quarter of 2019, the outstanding balance at December 31, 2018 of $2.5 million was repaid.

Guarantee of Old IAC Senior Notes

On November 15, 2013 and December 21, 2012, Old IAC issued $500.0 million aggregate principal amount of 4.875% Senior Notes due November 30, 2018 ("4.875% Senior Notes") and $500.0 million aggregate principal amount of 4.75% Senior Notes due December 15, 2022 ("4.75% Senior Notes"), respectively. The 4.875% and 4.75% Senior Notes are unconditionally guaranteed by certain of New IAC's domestic subsidiaries. On November 30, 2017, Old IAC redeemed the 4.875% Senior Notes and repaid the outstanding balance of $361.9 million. On August 23, 2019, Old IAC redeemed the 4.75% Senior Notes and repaid the outstanding balance of $34.5 million. New IAC did not pay any amount (or record any liability) as a result of our guarantee of Old IAC's Senior Notes.

Relationship with New Match following the Separation

If the Separation is consummated, New IAC shall enter into certain agreements with New Match to govern the relationship between New IAC and New Match following the Separation. These agreements will include: a tax sharing agreement; a services agreement; and an employee matters agreement.

New IAC and ANGI

Old IAC and ANGI, in connection with the Combination, entered into a contribution agreement; an investor rights agreement; a services agreement; a tax sharing agreement; and an employee matters agreement. If the Separation is consummated, Old IAC shall assign these agreements to New IAC.

Additionally, on September 29, 2017, Old IAC and ANGI entered into two intercompany notes (collectively referred to as "Intercompany Notes") to ANGI as follows: (i) a Payoff Intercompany Note, which provided the funds necessary to repay the outstanding balance under Angie's List's previously existing credit agreement, totaling $61.5 million; and (ii) a Working Capital Intercompany Note, which provided ANGI with $15 million for working capital purposes. These Intercompany Notes were repaid on November 1, 2017, with a portion of the proceeds from the ANGI Term Loan that were received on the same date.

For the years ended December 31, 2019 and 2018 and for the period subsequent to the Combination through December 31, 2017, 0.5 million, 0.9 million and 0.4 million shares, respectively, of ANGI Class B common stock were issued to IAC pursuant to the employee matters agreement as reimbursement for shares of IAC common stock issued in connection with the exercise and vesting of IAC equity awards held by ANGI employees.

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

For the years ended December 31, 2019 and 2018 and for the period subsequent to the Combination through December 31, 2017, ANGI was charged $4.8 million, $5.7 million and $1.7 million, respectively, by Old IAC for services rendered pursuant to the services agreement. There were no outstanding receivables or payables pursuant to the services agreement as of December 31, 2019. At December 31, 2018, Old IAC had a $0.1 million outstanding payable to ANGI, pursuant to the services agreement. This amount was deducted from the charges due from ANGI pursuant to the services agreement discussed above during the first quarter of 2019.

New IAC and Match Group

For the years ended December 31, 2019, 2018 and 2017, Match Group incurred rent expense of $5.8 million, $5.2 million and $5.1 million, respectively, for the leasing of office space for certain of its businesses at properties owned by New IAC. The respective amounts were paid in full by Match Group at December 31, 2019, 2018 and 2017, respectively.

In December 2017, certain international subsidiaries of Match Group agreed to sell net operating losses, which were not expected to be utilized by Match Group, to a New IAC subsidiary for $0.9 million.

New IAC and Expedia

Each of New IAC and Expedia has a 50% ownership interest in two aircraft that may be used by both companies. New IAC and Expedia purchased an aircraft during the second quarter of 2017 to replace a previously owned aircraft, which was subsequently sold on February 13, 2018. New IAC paid $17.4 million (50% of the total purchase price and refurbish costs) for its interest in the new aircraft. In addition, in 2019, New IAC and Expedia entered into an agreement to jointly acquire a new corporate aircraft for a total expected cost of $72.3 million (including purchase price and related costs), with each company to bear 50% of such expected cost. New IAC paid approximately $23 million in 2019 in connection with our joint entry into the purchase agreement, and the respective share of the balance is due upon delivery of the new aircraft, which is expected to occur in early 2021. Members of the aircraft flight crews are employed by an entity in which each of New IAC and Expedia has a 50% ownership interest. New IAC and Expedia have agreed to share costs relating to flight crew compensation and benefits pro-rata according to each company's respective usage of the aircraft, for which they are separately billed by the entity described above. IAC and Expedia are related parties since they are under common control, given that Mr. Diller serves as Chairman and Senior Executive of both Old IAC and Expedia and subsequent to the Separation will serve as Chairman and Senior Executive of New IAC. For the years ended December 31, 2019, 2018 and 2017, total payments made to this entity by New IAC were not material.

BENEFIT PLANS	12 Months Ended
BENEFIT PLANS	Dec. 31, 2019
Retirement Benefits [Abstract]
BENEFIT PLANS	BENEFIT PLANS The employees of the combined subsidiaries of New IAC participate in the IAC/InterActiveCorp Retirement Savings Plan ("the Plan"), which is a retirement savings plan in the United States that qualifies under Section 401(k) of the Internal Revenue Code. Under the Plan, participating employees may contribute up to 50% of their pre-tax earnings, but not more than statutory limits. Prior to July 2019, New IAC contributed a dollar for each dollar a participant contributed in this plan, with a maximum contribution of 3% of a participant's eligible earnings. In June 2019, Old IAC approved a change to the matching contribution to 100% of the first 10% of compensation, subject to IRS limits on the Old IAC's matching contribution maximum, that a participant contributes to the Plan. This change was phased in beginning July 1, 2019 and was fully implemented by all of the entities comprising New IAC participating in the Plan no later than January 1, 2020. Matching contributions for the Plan for the years ended December 31, 2019, 2018 and 2017 are $15.4 million, $10.2 million and $8.8 million, respectively. Matching contributions are invested in the same manner as each participant's voluntary contributions in the investment options provided under the Plan. An investment option in the Plan is Old IAC common stock, but neither participant nor matching contributions are required to be invested in Old IAC common stock. The increase in matching contributions in 2019 is due primarily to the aforementioned change to New IAC's matching contribution. The increase in matching contributions in 2018 is due primarily to an increase in participation in the Plan due to increases in headcount from the Combination and continued corporate growth at ANGI, Vimeo and Dotdash. New IAC also has or participates in various benefit plans, principally defined contribution plans, for its international employees. New IAC contributions for these plans for the years ended December 31, 2019, 2018 and 2017 are $1.0 million, $0.6 million and $0.3 million, respectively.

COMBINED FINANCIAL STATEMENT DETAILS

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

COMBINED FINANCIAL STATEMENT DETAILS


	December 31,
	2019		2018
	(In thousands)
Other current assets:
Capitalized costs to obtain a contract with a customer	$	43,069	$	40,601
Prepaid expenses	41,934		36,636
Capitalized downloadable search toolbar costs, net	21,985		33,365
Other	45,346		56,857
Other current assets	$	152,334	$	167,459


	December 31,
	2019		2018
	(In thousands)
Property and equipment, net:
Buildings and leasehold improvements	$	242,882	$	224,497
Capitalized software and computer equipment	124,523		93,000
Furniture and other equipment	84,640		79,299
Land	11,591		11,591
Projects in progress	43,576		25,835
Property and equipment	507,212		434,222
Accumulated depreciation and amortization	(201,798)		(173,774)
Property and equipment, net	$	305,414	$	260,448


	December 31,
	2019		2018
	(In thousands)
Accrued expenses and other current liabilities:
Accrued employee compensation and benefits	$	105,960	$	99,205
Accrued advertising expense	59,269		64,626
Accrued revenue share	30,574		28,284
Other	124,670		107,450
Accrued expenses and other current liabilities	$	320,473	$	299,565


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Other income, net	$	33,627	$	282,470	$	12,363

Other income, net in 2019 includes: a $20.5 million gain related to the sale of our investment in Pinterest; $18.5 million in net upward adjustments related to investments in equity securities without readily determinable fair values; $14.7 million of interest income; an unrealized reduction of $9.1 million in the estimated fair value of a warrant; a realized loss of $8.2 million related to the sale of Vimeo's hardware business in the first quarter of 2019; and 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 $26.8 million realized gain on the sale of certain Pinterest shares held by New IAC and a $128.8 million unrealized gain (or upward adjustment) to adjust our remaining interest in Pinterest to fair value in accordance with ASU No. 2016-01, which was adopted on January 1, 2018; $120.6 million in gains related to the sales of Dictionary.com, Electus, Felix and CityGrid; and $8.8 million of interest income.

Other income, net in 2017 includes: $25.8 million in realized gains related to the sale of certain investments; $4.0 million of interest income; $9.9 million in other-than-temporary impairment charges related to certain investments; and $6.6 million in net foreign currency exchange losses due primarily to the weakening of the dollar relative to the British pound.

Cash and Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the combined balance sheet to the total amounts shown in the combined statement of cash flows:


	December 31, 2019		December 31, 2018		December 31, 2017		December 31, 2016
	(In thousands)
Cash and cash equivalents	$	839,796	$	884,975	$	757,202	$	521,416
Restricted cash included in other current assets	527		1,441		2,737		204
Restricted cash included in other assets	409		420		—		10,548
Total cash and cash equivalents and restricted cash as shown on the combined statement of cash flows	$	840,732	$	886,836	$	759,939	$	532,168

Restricted cash at December 31, 2019 primarily consists of a deposit related to corporate credit cards.

Restricted cash at December 31, 2018 primarily consists of a cash collateralized letter of credit and a deposit related to corporate credit cards.

Restricted cash at December 31, 2017 primarily supports a letter of credit to a supplier, which was released to New IAC in the second quarter of 2018.

Restricted cash at December 31, 2016 primarily included funds held in escrow for the MyHammer tender offer. In the first quarter of 2017, the funds held in escrow for the MyHammer tender offer were returned to New IAC.

Supplemental Disclosure of Non-Cash Transactions:

New IAC recorded an acquisition-related contingent consideration liability of $25.5 million during the year ended December 31, 2018 in connection with an acquisition. There were no acquisition-related contingent consideration liabilities recorded for the years ended December 31, 2019 and 2017. See "Note 6—Financial Instruments and Fair Value Measurements" for additional information on contingent consideration arrangements.

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 September 29, 2017, ANGI issued 61.3 million shares of its Class A common stock valued at $763.7 million in connection with the Combination.

Supplemental Disclosure of Cash Flow Information:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Cash paid (received) during the year for:
Interest	$	10,042	$	13,108	$	8
Income tax payments	$	4,861	$	4,084	$	6,508
Income tax refunds	$	(3,048)	$	(30,320)	$	(11,618)

QUARTERLY RESULTS (UNAUDITED)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY RESULTS (UNAUDITED)


	Quarter Ended March 31^(a)		Quarter Ended June 30^(a)		Quarter Ended September 30^(a)		Quarter Ended December 31^(a)
	(In thousands)
Year Ended December 31, 2019
Revenue	$	641,220	$	688,685	$	705,382	$	670,514
Cost of revenue	$	139,848	$	149,725	$	158,161	$	152,506
Operating (loss) income	$	(34,183)	$	(13,770)	$	13,912	$	(16,408)
Net (loss) earnings	$	(13,673)	$	22,021	$	18,378	$	5,457
Net (loss) earnings attributable to Old IAC equity in IAC Holdings, Inc.	$	(14,247)	$	13,789	$	16,466	$	6,887


	Quarter Ended March 31^(b)		Quarter Ended June 30^(c)		Quarter Ended September 30^(d)		Quarter Ended December 31^(e)
	(In thousands)
Year Ended December 31, 2018
Revenue	$	587,709	$	637,928	$	660,649	$	646,762
Cost of revenue	$	108,021	$	120,890	$	129,727	$	142,514
Operating (loss) income	$	(16,356)	$	24,479	$	39,177	$	(11,465)
Net (loss) earnings	$	(5,002)	$	164,482	$	38,163	$	94,728
Net (loss) earnings attributable to Old IAC equity in IAC Holdings, Inc.	$	(2,809)	$	125,686	$	34,601	$	89,294

_______________________________________________________________________________

^(a)The first, second, third, and fourth quarters of 2019 include after-tax stock-based compensation expense of $2.2 million, $1.9 million, $1.7 million, and $1.7 million, respectively, related to the modification of previously issued HomeAdvisor equity awards and previously issued Angie's List equity awards, both of which were converted into ANGI Homeservices' equity awards in the Combination.

^(b)The first quarter of 2018 includes after-tax stock-based compensation expense of $14.7 million related to the modification of previously issued HomeAdvisor equity awards and previously issued Angie's List equity awards, both of which were converted into ANGI Homeservices' equity awards in the Combination, and the acceleration of certain converted equity awards resulting from the termination of Angie's List employees in connection with the Combination, as well as after-tax costs of $4.1 million related to the Combination (including $2.8 million of deferred revenue write-offs).

^(c)The second quarter of 2018 includes:

i.after-tax stock-based compensation expense of $12.9 million related to the modification of previously issued HomeAdvisor equity awards and previously issued Angie's List equity awards, both of which were converted into ANGI Homeservices' equity awards in the Combination, and the acceleration of certain converted equity awards resulting from the termination of Angie's List employees in connection with the Combination, as well as after-tax costs of $2.0 million related to the Combination (including $1.8 million of deferred revenue write-offs).

ii.after-tax realized and unrealized gains of $131.5 million related to the sale of a certain equity investment.

^(d)The third quarter of 2018 includes after-tax stock-based compensation expense of $12.3 million related to the modification of previously issued HomeAdvisor equity awards and previously issued Angie's List equity awards, both of which were converted into ANGI Homeservices' equity awards in the Combination.

^(e)The fourth quarter of 2018 includes:

i.after-tax stock-based compensation expense of $14.5 million related to the modification of previously issued HomeAdvisor equity awards and previously issued Angie's List equity awards, both of which were converted into ANGI Homeservices' equity awards in the Combination.

ii.combined after-tax gains of $91.4 million related to the sales of Dictionary.com, Electus, Felix and CityGrid.

iii.after-tax impairment charges related to indefinite-lived intangible assets of $20.8 million.

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On February 11, 2020, New IAC completed the acquisition of Care.com, an online marketplace for finding and managing family care, for approximately $500 million, net of cash acquired. The accounting for this acquisition has not been completed at the date of this filing given the proximity to the acquisition date. The acquisition will be accounted for by the acquisition method, and accordingly the results of operations of Care.com will be included in New IAC’s combined financial statements from the date of its acquisition. The purchase price will be allocated to the net assets acquired based on estimated fair values at the acquisition date, with the excess of purchase price over the estimated fair value of the net assets acquired recorded as goodwill. In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (“COVID‑19”) as a pandemic, which continues to spread throughout the United States and abroad. New IAC’s ANGI Homeservices business experienced a decline in demand for home services requests, driven primarily by decreases in demand in certain categories of jobs (particularly discretionary indoor projects). In the second quarter of 2020, ANGI Homeservices experienced a rebound in service requests, exceeding pre-COVID-19 growth levels, driven by increased demand from homeowners who spent more time at home due to measures taken to reduce the spread of COVID-19. However, many service professionals' businesses have been adversely impacted by labor and material constraints, which negatively impacted ANGI Homeservices' ability to monetize this increased level of service requests. Vimeo has seen strong revenue growth as the demand for communication via video has increased due to the pandemic. The Search segment has experienced a significant decline in revenue due, in part, to the decrease in advertising rates due to the impact of COVID-19. In addition, the United States has experienced a resurgence of the COVID-19 virus beginning in June 2020, the impact of and potential continue spread of COVID-19 remains unpredictable and could materially and adversely affect our business, financial condition and results of operations. In connection with the first quarter close of its books, New IAC determined that the effects of COVID‑19 were an indicator of possible impairment for certain of its assets. New IAC determined, as of March 31, 2020, the fair value for those assets for which COVID‑19 was deemed to be an indicator of possible impairment and identified the following impairments: • a $212.0 million impairment related to the goodwill of the Desktop reporting unit; • a $21.4 million impairment related to certain indefinite‑lived intangible assets of the Desktop reporting unit; • a $51.5 million impairment to its portfolio of equity securities without readily determinable fair values; and • a $7.5 million impairment on a note receivable and warrants related to certain investees. There were no impairments identified during the three months ended June 30, 2020. On June 9, 2020, Old IAC announced that it had sold approximately 17 million shares of its Class M common stock (which became New Match common stock) for net proceeds of approximately $1.4 billion. The sale of these shares closed on July 1, 2020 and, under the terms of the Separation, the net proceeds of $1.4 billion that New Match received pursuant to such sales were transferred to the Company in early July 2020. On June 30, 2020, the Separation was completed. For more information, see the Company's Current Report on Form 8-K filed with the SEC on July 2, 2020 and the Quarterly Report for the quarter ended June 30, 2020 filed on Form 10-Q with the SEC on August 10, 2020. New IAC purchased 59.0 million shares of MGM Resorts International ("MGM") from May 14, 2020 through August 7, 2020 for approximately $1 billion in aggregate, representing a 12.0% ownership interest in MGM as of August 7, 2020. On August 20, 2020, ANGI Group, LLC, a Delaware limited liability company and a direct, wholly owned subsidiary of ANGI, issued $500 million in aggregate principal amount of 3.875% Senior Notes ("ANGI Senior Notes") due August 15, 2028. The net proceeds from the issuance of the ANGI Senior Notes will be used for general corporate purposes, including potential future acquisitions and return of capital.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Accounting Policies [Abstract]

Basis of Presentation and Combination

In connection with the Separation, IAC Holdings, Inc. was incorporated as a Delaware corporation in November 2019. IAC Holdings, Inc. currently does not have any material assets or liabilities, nor does it engage in any business or other activities and, other than in connection with the Separation, will not acquire or incur any material assets or liabilities, nor will it engage in any business or other activities.

The historical combined financial statements of IAC Holdings, Inc. and subsidiaries have been prepared on a standalone basis and are derived from the consolidated financial statements and accounting records of Old IAC. The combined financial statements reflect the historical financial position, results of operations and cash flows of the businesses comprising New IAC since their respective dates of acquisition by Old IAC and the allocation to New IAC of certain Old IAC corporate expenses relating to New IAC based on the historical financial statements and accounting records of Old IAC. For the purpose of these financial statements, income taxes have been computed as if the entities comprising New IAC filed tax returns on a standalone, separate basis. The financial statements have been prepared on a combined, rather than consolidated, basis as the final steps of the legal reorganization, which will result in the contribution of all the entities that will comprise New IAC as of the date of the Separation, are not yet complete.

As used herein, "New IAC," "we," "our" or "us" and similar terms in these historical combined financial statements refer to IAC Holdings, Inc. and its subsidiaries (unless the context requires otherwise).

New IAC prepares its combined financial statements in accordance with U.S. generally accepted accounting principles ("GAAP").

All intercompany transactions and balances between and among New IAC, its subsidiaries and the entities comprising New IAC have been eliminated. All intercompany transactions between (i) New IAC and (ii) Old IAC and its subsidiaries are considered to be effectively settled for cash at the time the transaction is recorded. The total net effect of the settlement of these intercompany transactions is reflected in the combined statement of cash flows as a financing activity and in the combined balance sheet as “Invested capital.”

In management's opinion, the assumptions underlying the historical combined financial statements of New IAC, including the basis on which the expenses have been allocated from Old IAC, are reasonable. However, the allocations may not reflect the expenses that we may have incurred as an independent, stand-alone company for the periods presented.

Accounting for Investments in Equity Securities

Accounting Estimates

Revenue Recognition

New IAC's disaggregated revenue disclosures are presented in "Note 10—Segment Information."


	Under ASC 606 (as reported)		Under ASC 605		Effect of adoption of ASU No. 2014-09
	(In thousands)
Revenue by segment:
ANGI Homeservices	$	1,132,241	$	1,132,241	$	—
Vimeo	159,641		160,931		(1,290)
Dotdash	130,991		130,991		—
Search	823,950		830,447		(6,497)
Emerging & Other	286,586		279,294		7,292
Inter-segment eliminations	(361)		(361)		—
Total	$	2,533,048	$	2,533,543	$	(495)

Operating costs and expenses by segment:
ANGI Homeservices	$	1,068,335	$	1,073,275	$	(4,940)
Vimeo	195,235		196,212		(977)
Dotdash	112,213		112,213		—
Search	672,525		672,525		—
Emerging & Other	313,213		310,404		2,809
Corporate	135,692		135,692		—
Total	$	2,497,213	$	2,500,321	$	(3,108)

Operating income (loss) by segment:
ANGI Homeservices	$	63,906	$	58,966	$	4,940
Vimeo	(35,594)		(35,281)		(313)
Dotdash	18,778		18,778		—
Search	151,425		157,922		(6,497)
Emerging & Other	(26,627)		(31,110)		4,483
Corporate	(136,053)		(136,053)		—
Total	$	35,835	$	33,222	$	2,613

Net earnings	$	292,371	$	290,487	$	1,884

Transaction Price

Arrangements with Multiple Performance Obligations

Assets Recognized from the Costs to Obtain a Contract with a Customer

Performance Obligations

ANGI Homeservices

Vimeo

Dotdash

Emerging & Other

Bluecrew revenue consists of service revenue, which is generated through staffing workers and recognized as control of the promised services is transferred to our customers.

Accounts Receivables, Net of Allowance for Doubtful Accounts and Revenue Reserves

Deferred Revenue

Cash and Cash Equivalents

Investments in Debt Securities

Certain Risks and Concentrations

Services Agreement with Google

changes to the policies under the Services Agreement and has also made industry‑wide changes that have negatively impacted the Desktop business during both 2018 and 2019.

Credit Risk

Other Risks

Property and Equipment

Business Combinations

Goodwill and Indefinite-Lived Intangible Assets

•ANGI's October 1, 2019 market capitalization of $3.6 billion exceeded its carrying value by approximately $2.2 billion.

The aggregate goodwill balance for the Desktop reporting unit for which the most recent estimate of fair value is less than 10% over its carrying value is approximately $265.1 million.

The 2017 annual assessment of goodwill and indefinite-lived intangible assets did not identify any impairments.

Long-Lived Assets and Intangible Assets with Definite Lives

Fair Value Measurements

•Level 1: Observable inputs obtained from independent sources, such as quoted market prices for identical assets and liabilities in active markets.

Traffic Acquisition Costs

Advertising Costs

Legal Costs

Legal costs are expensed as incurred.

Income Taxes

Foreign Currency Translation and Transaction Gains and Losses

Translation gains and losses relating to foreign entities that are liquidated or substantially liquidated are reclassified out of accumulated other comprehensive income (loss) into earnings.

Stock-Based Compensation

Stock-Based CompensationStock-based compensation is measured at the grant date based on the fair value of the award and is generally expensed over the requisite service period.

Redeemable Noncontrolling Interests

Recent Accounting Pronouncements

Accounting Pronouncement adopted by New IAC

Adoption of ASU No. 2016-02, Leases (Topic 842)

See "Note 11—Leases" for additional information on the adoption of ASC 842.

Accounting Pronouncements Not Yet Adopted by New IAC

ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

Reclassifications

Certain prior year amounts have been reclassified to conform to the current year presentation.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Schedule of Impact of Adoption by Segment of ASC 606


	Under ASC 606 (as reported)		Under ASC 605		Effect of adoption of ASU No. 2014-09
	(In thousands)
Revenue by segment:
ANGI Homeservices	$	1,132,241	$	1,132,241	$	—
Vimeo	159,641		160,931		(1,290)
Dotdash	130,991		130,991		—
Search	823,950		830,447		(6,497)
Emerging & Other	286,586		279,294		7,292
Inter-segment eliminations	(361)		(361)		—
Total	$	2,533,048	$	2,533,543	$	(495)

Operating costs and expenses by segment:
ANGI Homeservices	$	1,068,335	$	1,073,275	$	(4,940)
Vimeo	195,235		196,212		(977)
Dotdash	112,213		112,213		—
Search	672,525		672,525		—
Emerging & Other	313,213		310,404		2,809
Corporate	135,692		135,692		—
Total	$	2,497,213	$	2,500,321	$	(3,108)

Operating income (loss) by segment:
ANGI Homeservices	$	63,906	$	58,966	$	4,940
Vimeo	(35,594)		(35,281)		(313)
Dotdash	18,778		18,778		—
Search	151,425		157,922		(6,497)
Emerging & Other	(26,627)		(31,110)		4,483
Corporate	(136,053)		(136,053)		—
Total	$	35,835	$	33,222	$	2,613

Net earnings	$	292,371	$	290,487	$	1,884

Schedule of Estimated Useful Lives of Property and Equipment


Asset Category			Estimated Useful Lives
Buildings and leasehold improvements			3 to 39 Years
Capitalized software and computer equipment			2 to 3 Years
Furniture and other equipment			3 to 12 Years


	December 31,
	2019		2018
	(In thousands)
Property and equipment, net:
Buildings and leasehold improvements	$	242,882	$	224,497
Capitalized software and computer equipment	124,523		93,000
Furniture and other equipment	84,640		79,299
Land	11,591		11,591
Projects in progress	43,576		25,835
Property and equipment	507,212		434,222
Accumulated depreciation and amortization	(201,798)		(173,774)
Property and equipment, net	$	305,414	$	260,448

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Income before Income Taxes

U.S. and foreign (loss) earnings before income taxes and noncontrolling interests are as follows:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
U.S.	$	(74,360)	$	269,267	$	(141,519)
Foreign	46,054		36,304		10,725
Total	$	(28,306)	$	305,571	$	(130,794)

Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax (benefit) provision are as follows:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Current income tax provision (benefit):
Federal	$	(1,117)	$	(1,187)	$	(29,754)
State	197		1,514		2,262
Foreign	3,201		4,108		(1,175)
Current income tax provision (benefit)	2,281		4,435		(28,667)

Deferred income tax (benefit) provision:
Federal	(51,952)		20,156		(118,744)
State	(10,645)		(7,272)		(6,755)
Foreign	(173)		(4,119)		(1,236)
Deferred income tax (benefit) provision	(62,770)		8,765		(126,735)
Income tax (benefit) provision	$	(60,489)	$	13,200	$	(155,402)

Schedule of Deferred Tax Assets and Liabilities


	December 31,
	2019		2018
	(In thousands)
Deferred tax assets:
Net operating loss carryforwards	$	201,766	$	129,500
Stock-based compensation	62,566		64,776
Long-term lease liabilities	42,486		—
Tax credit carryforwards	38,066		34,065
Accrued expenses	12,911		17,577
Other	21,039		16,713
Total deferred tax assets	378,834		262,631
Less: valuation allowance	(92,990)		(86,778)
Net deferred tax assets	285,844		175,853

Deferred tax liabilities:
Investment in subsidiaries	(240,420)		(240,590)
Right-of-use assets	(29,654)		—
Intangible assets	(28,488)		(35,380)
Investment in Pinterest	—		(23,018)
Other	(31,534)		(14,120)
Total deferred tax liabilities	(330,096)		(313,108)
Net deferred tax liabilities	$	(44,252)	$	(137,255)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the income tax (benefit) provision to the amounts computed by applying the statutory federal income tax rate to earnings before income taxes is shown as follows:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Income tax (benefit) provision at the federal statutory rate of 21% (35% for 2017)	$	(5,944)	$	64,170	$	(45,778)
State income taxes, net of effect of federal tax benefit	(277)		5,188		(4,856)
Stock-based compensation	(56,871)		(39,326)		(75,895)
Non-deductible executive compensation	7,409		2,983		123
Change in valuation allowance on capital losses	(5,815)		(1,280)		(825)
Non-deductible expenses	5,460		1,727		5,211
Research credit	(5,105)		(3,167)		(4,593)
Withholding taxes	1,008		703		510
Deferred tax adjustment for enacted changes in tax laws and rates	(687)		(13,646)		(68,513)
Foreign income taxed at a different statutory tax rate	(672)		(866)		(6,087)
Transition tax	—		—		46,003
Other, net	1,005		(3,286)		(702)
Income tax (benefit) provision	$	(60,489)	$	13,200	$	(155,402)

Schedule of Income Tax Contingencies

A reconciliation of the beginning and ending amount of unrecognized tax benefits, including penalties but excluding interest, is as follows:


	December 31,
	2019		2018		2017
	(In thousands)
Balance at January 1	$	15,451	$	14,528	$	12,766
Additions based on tax positions related to the current year	2,781		1,455		1,399
Additions for tax positions of prior years	238		235		870
Expiration of applicable statutes of limitations	(410)		(767)		(507)
Balance at December 31	$	18,060	$	15,451	$	14,528

BUSINESS COMBINATION (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Schedule of Purchase Price

The table below summarizes the purchase price:


	Angie's List
	(In thousands)
Class A common stock	$	763,684
Cash consideration for holders who elected to receive $8.50 in cash per share of Angie's List common stock	1,913
Fair value of vested and pro rata portion of unvested stock options attributable to pre-combination services	11,749
Fair value of the pro rata portion of unvested restricted stock units attributable to pre-combination services	4,038
Total purchase price	$	781,384

Schedule of Preliminary Estimated Fair Value of Assets Acquired and Liabilities Assumed

The table below summarizes the fair values of the assets acquired and liabilities assumed at the date of Combination:


	Angie's List
	(In thousands)
Cash and cash equivalents	$	44,270
Other current assets	11,280
Property and equipment	16,341
Goodwill	543,674
Intangible assets	317,300
Total assets	932,865
Deferred revenue	(32,595)
Other current liabilities	(46,150)
Long-term debt—related party	(61,498)
Deferred income taxes	(9,833)
Other long-term liabilities	(1,405)
Net assets acquired	$	781,384

Schedule of Preliminary Estimated Fair Value of Intangible Assets Acquired

The fair values of the identifiable intangible assets acquired at the date of Combination are as follows:


	Angie's List
	(In thousands)		Weighted-Average Useful Life (Years)
Indefinite-lived trade name and trademarks	$	137,000	Indefinite
Service professionals	90,500		3
Developed technology	63,900		6
Memberships	15,900		3
User base	10,000		1
Total identifiable intangible assets acquired	$	317,300

Schedule of Pro Forma Financial Information


	Year Ended December 31, 2017
	(In thousands)
Revenue	$	2,174,968
Net earnings attributable to Old IAC equity in IAC Holdings, Inc.	$	96,578

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill and Intangible Assets, Net

Goodwill and intangible assets, net are as follows:


	December 31,
	2019		2018
	(In thousands)
Goodwill	$	1,616,867	$	1,484,117
Intangible assets with indefinite lives	225,296		227,420
Intangible assets with definite lives, net of accumulated amortization	124,854		166,362
Total goodwill and intangible assets, net	$	1,967,017	$	1,877,899

Schedule of Goodwill by Reporting Unit

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the year ended December 31, 2019:


	Balance at December 31, 2018		Additions		(Deductions)		Impairment		Foreign Exchange Translation		Balance at December 31, 2019
	(In thousands)
ANGI Homeservices	$	895,071	$	18,326	$	(29,293)	$	—	$	192	$	884,296
Vimeo	77,152		142,222		—		—		—		219,374
Search	265,146		—		—		—		—		265,146
Emerging & Other	246,748		4,765		—		(3,318)		(144)		248,051
Total	$	1,484,117	$	165,313	$	(29,293)	$	(3,318)	$	48	$	1,616,867

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the year ended December 31, 2018:


	Balance at December 31, 2017		Additions		(Deductions)		Impairment		Foreign Exchange Translation		Balance at December 31, 2018
	(In thousands)
ANGI Homeservices	$	770,664	$	142,768	$	(14,449)	$	—	$	(3,912)	$	895,071
Vimeo	77,303		—		(151)		—		—		77,152
Search	265,146		—		—		—		—		265,146
Emerging & Other	200,401		54,468		(7,664)		—		(457)		246,748
Total	$	1,313,514	$	197,236	$	(22,264)	$	—	$	(4,369)	$	1,484,117

Schedule of Intangible Assets with Definite Lives

Intangible assets with indefinite lives are trade names and trademarks acquired in various acquisitions. At December 31, 2019 and 2018, intangible assets with definite lives are as follows:


	December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life (Years)
	(In thousands)
Technology	$	143,255	$	(73,483)	$	69,772	4.5
Service professional relationships	99,651		(76,445)		23,206		2.9
Customer lists and user base	44,286		(24,226)		20,060		3.3
Memberships	15,900		(11,940)		3,960		3.0
Trade names	12,777		(8,082)		4,695		3.5
Other	10,439		(7,278)		3,161		3.4
Total	$	326,308	$	(201,454)	$	124,854	3.7


	December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life (Years)
	(In thousands)
Technology	$	132,588	$	(48,339)	$	84,249	4.6
Service professional relationships	99,528		(44,674)		54,854		2.9
Customer lists and user base	29,829		(14,857)		14,972		2.9
Memberships	15,900		(6,640)		9,260		3.0
Trade names	7,579		(4,579)		3,000		3.9
Other	5,500		(5,473)		27		4.6
Total	$	290,924	$	(124,562)	$	166,362	3.7

Schedule of Expected Amortization of Intangible Assets

At December 31, 2019, amortization of intangible assets with definite lives for each of the next five years and thereafter is estimated to be as follows:


Years Ending December 31,	(In thousands)
2020	$	61,792
2021	26,108
2022	21,830
2023	12,306
2024	1,316
Thereafter	1,502
Total	$	124,854

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Marketable Securities

At December 31, 2018, the fair values of marketable securities are as follows:


	Year Ended December 31, 2018
	(In thousands)
Available-for-sale marketable debt securities	$	24,947
Marketable equity security	419
Total marketable securities	$	25,366

Schedule of Current Available-for-sale Marketable Securities

At December 31, 2018, current available-for-sale marketable debt securities are as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(In thousands)
Treasury discount notes	$	24,947	$	1	$	(1)	$	24,947
Total available-for-sale marketable debt securities	$	24,947	$	1	$	(1)	$	24,947

Schedule of Long-term Investments

Long-term investments consist of:


	December 31,
	2019		2018
	(In thousands)
Equity securities without readily determinable fair values	$	347,975	$	225,979
Total long-term investments	$	347,975	$	225,979

Schedule of Realized and Unrealized Gains (Losses) on Investments


	Years Ended December 31,
	2019		2018
	(In thousands)
Upward adjustments (gross unrealized gains)	$	19,698	$	128,786
Downward adjustments including impairments (gross unrealized losses)	(1,193)		(2,838)
Total	$	18,505	$	125,948


	Years Ended December 31, 2018
	2019		2018
	(In thousands)
Realized gains, net, for equity securities sold	$	22,880	$	27,366
Unrealized gains, net, on equity securities held	18,505		126,063
Total gains, net, recognized in other income, net	$	41,385	$	153,429

Schedule of Financial Instruments Measured at Fair Value on Recurring Basis

The following tables present New IAC's financial instruments that are measured at fair value on a recurring basis:


	December 31, 2019
	Quoted Market Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	699,589	$	—	$	—	$	699,589
Time deposits	—		23,075		—		23,075
Other non-current assets:
Warrant	—		—		8,495		8,495
Total	$	699,589	$	23,075	$	8,495	$	731,159

Liabilities:
Contingent consideration arrangements	$	—	$	—	$	(6,918)	$	(6,918)


	December 31, 2018
	Quoted Market Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	616,077	$	—	$	—	$	616,077
Treasury discount notes	—		99,914		—		99,914
Commercial paper	—		52,931		—		52,931
Time deposits	—		15,036		—		15,036
Marketable securities:
Treasury discount notes	—		24,947		—		24,947
Marketable equity security	419		—		—		419
Total	$	616,496	$	192,828	$	—	$	809,324

Liabilities:
Contingent consideration arrangements	$	—	$	—	$	(26,657)	$	(26,657)

Schedule of Unobservable Inputs in Fair Value Measurement

The following table presents the changes in New IAC's financial instruments that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3):


	Years Ended December 31,
	2019						2018
	Warrant		Contingent Consideration Arrangements		Contingent Consideration Arrangements
	(In thousands)
Balance at January 1	$	—	$	(26,657)	$	—
Fair value at date of acquisition	17,618		—		(25,521)
Total net (losses) gains:
Included in earnings:
Fair value adjustments	(9,123)		19,739		(1,136)
Balance at December 31	$	8,495	$	(6,918)	$	(26,657)

Schedule of Carrying Value and the Fair Value of Financial Instruments Measured at Fair Value Only for Disclosure Purposes

The following table presents the carrying value and the fair value of financial instruments measured at fair value only for disclosure purposes:


	December 31, 2019						December 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
Notes receivable—related party, current	$	55,251	$	55,251	$	—	$	—
Current portion of long-term debt	$	(13,750)	$	(13,681)	$	(13,750)	$	(12,753)
Long-term debt, net ^(a)	$	(231,946)	$	(232,581)	$	(244,971)	$	(229,556)
Long-term debt—related party	$	—	$	—	$	(2,500)	$	(2,529)

_________________

^(a) At December 31, 2019 and 2018, the carrying value of long-term debt, net includes unamortized debt issuance costs of $1.8 million and $2.5 million, respectively.

LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consists of:


	December 31,
	2019		2018
	(In thousands)
ANGI Term Loan due November 5, 2023	$	247,500	$	261,250
Less: current portion of ANGI Term Loan	13,750		13,750
Less: unamortized debt issuance costs	1,804		2,529
Total long-term debt, net	$	231,946	$	244,971

Schedule of Aggregate Contractual Maturities of Long-term Debt

Maturities of long-term debt liabilities as of December 31, 2019 (in thousands):


Years Ending December 31,
2020	$	13,750
2021	13,750
2022	27,500
2023	192,500
Total	247,500
Less: current portion of long-term debt	13,750
Less: unamortized debt issuance costs	1,804
Total long-term debt, net	$	231,946

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

The following tables present the components of accumulated other comprehensive (loss) income and items reclassified out of accumulated other comprehensive loss into earnings:


	Year Ended December 31, 2019
	Foreign Currency Translation Adjustment		Unrealized Gains On Available-For-Sale Marketable Debt Securities		Accumulated Other Comprehensive (Loss) Income
	(In thousands)
Balance at January 1	$	(12,543)	$	2	$	(12,541)
Other comprehensive income (loss)	337		(2)		335
Net current period other comprehensive income (loss)	337		(2)		335
Allocation of accumulated other comprehensive loss related to the noncontrolling interests	(20)		—		(20)
Balance at December 31	$	(12,226)	$	—	$	(12,226)


	Year Ended December 31, 2018
	Foreign Currency Translation Adjustment		Unrealized Gains On Available-For-Sale Marketable Debt Securities		Accumulated Other Comprehensive Loss
	(In thousands)
Balance at January 1	$	(7,504)	$	—	$	(7,504)
Other comprehensive (loss) income before reclassifications	(4,976)		2		(4,974)
Amounts reclassified to earnings	(52)		—		(52)
Net current period other comprehensive (loss) income	(5,028)		2		(5,026)
Allocation of accumulated other comprehensive loss related to noncontrolling interests	(11)		—		(11)
Balance at December 31	$	(12,543)	$	2	$	(12,541)


	Year Ended December 31, 2017
	Foreign Currency Translation Adjustment		Accumulated Other Comprehensive (Loss) Income
	(In thousands)
Balance at January 1	$	(21,864)	$	(21,864)
Other comprehensive income before reclassifications	14,408		14,408
Amounts reclassified to earnings	(41)		(41)
Net current period other comprehensive income	14,367		14,367
Allocation of accumulated other comprehensive loss related to noncontrolling interests	(7)		(7)
Balance at December 31	$	(7,504)	$	(7,504)

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following table presents revenue by reportable segment:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Revenue:
ANGI Homeservices	$	1,326,205	$	1,132,241	$	736,386
Vimeo	196,015		159,641		103,332
Dotdash	167,594		130,991		90,890
Search	742,184		823,950		738,474
Emerging & Other	274,107		286,586		284,132
Inter-segment elimination	(304)		(361)		(607)
Total	$	2,705,801	$	2,533,048	$	1,952,607

The following table presents the revenue of New IAC's segments disaggregated by type of service:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
ANGI Homeservices
Marketplace:
Consumer connection revenue	$	913,533	$	704,341	$	521,481
Service professional membership subscription revenue	64,706		66,214		56,135
Other revenue	6,971		3,940		3,798
Total Marketplace revenue	985,210		774,495		581,414
Advertising and other revenue	264,682		287,676		97,483
Total North America revenue	1,249,892		1,062,171		678,897
Consumer connection revenue	59,611		50,913		40,009
Service professional membership subscription revenue	14,231		17,362		16,596
Advertising and other revenue	2,471		1,795		884
Total Europe revenue	76,313		70,070		57,489
Total ANGI Homeservices revenue	$	1,326,205	$	1,132,241	$	736,386

Vimeo
Platform revenue	$	193,736	$	146,665	$	99,650
Hardware revenue	2,279		12,976		3,682
Total Vimeo revenue	$	196,015	$	159,641	$	103,332

Dotdash
Display advertising revenue	$	126,487	$	103,704	$	76,316
Performance marketing revenue	41,107		27,287		14,574
Total Dotdash revenue	$	167,594	$	130,991	$	90,890

Search
Advertising revenue:
Google advertising revenue	$	678,438	$	770,494	$	689,633
Non-Google advertising revenue	47,556		31,975		13,553
Total advertising revenue	725,994		802,469		703,186
Other revenue	16,190		21,481		35,288
Total Search revenue	$	742,184	$	823,950	$	738,474


Emerging & Other
Subscription revenue	$	194,362	$	102,592	$	25,554
Marketplace revenue	38,950		19,665		—
Service revenue	3,881		22,142		27,465
Advertising revenue:
Non-Google advertising revenue	23,372		64,319		74,990
Google advertising revenue	4,486		14,393		16,716
Total advertising revenue	27,858		78,712		91,706
Media production and distribution revenue	8,897		61,717		138,006
Other revenue	159		1,758		1,401
Total Emerging & Other revenue	$	274,107	$	286,586	$	284,132

Schedule of Revenue by Geographic Areas

Revenue by geography is based on where the customer is located. Geographic information about revenue and long-lived assets is presented below:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Revenue:
United States	$	2,097,743	$	1,951,957	$	1,569,275
All other countries	608,058		581,091		383,332
Total	$	2,705,801	$	2,533,048	$	1,952,607

Schedule of Long-lived Assets by Geographic Areas


	December 31,
	2019		2018
	(In thousands)
Long-lived assets (excluding goodwill and intangible assets):
United States	$	297,433	$	254,751
All other countries	7,981		5,697
Total	$	305,414	$	260,448

Schedule of Reconciliation of Adjusted EBITDA to Operating Income (Loss)

The following tables present operating income (loss) and Adjusted EBITDA by reportable segment:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Operating income (loss):
ANGI Homeservices	$	38,645	$	63,906	$	(149,176)
Vimeo	(51,921)		(35,594)		(27,328)
Dotdash	29,021		18,778		(15,694)
Search	122,347		151,425		153,986
Emerging & Other	(21,790)		(26,627)		(780)
Corporate	(166,751)		(136,053)		(125,640)
Total	$	(50,449)	$	35,835	$	(164,632)


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Adjusted EBITDA:^(a)
ANGI Homeservices	$	202,297	$	247,506	$	37,858
Vimeo	$	(41,790)	$	(28,045)	$	(23,607)
Dotdash	$	39,601	$	21,384	$	(2,763)
Search	$	124,163	$	182,905	$	162,023
Emerging & Other	$	(28,368)	$	(14,889)	$	2,124
Corporate	$	(88,617)	$	(74,011)	$	(67,748)

_______________________________________________________________________________

The following tables reconcile operating income (loss) for New IAC's reportable segments and net earnings attributable to Old IAC equity in IAC Holdings, Inc. to Adjusted EBITDA:


	Year Ended December 31, 2019
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Goodwill Impairment		Acquisition-related Contingent Consideration Fair Value Adjustments		Adjusted EBITDA
	(In thousands)
ANGI Homeservices	$	38,645	$	68,255	$	39,915	$	55,482	$	—	$	—	$	202,297
Vimeo	(51,921)		$	—	$	478	$	9,653	$	—	$	—	$	(41,790)
Dotdash	29,021		$	—	$	974	$	9,606	$	—	$	—	$	39,601
Search	122,347		$	—	$	1,816	$	—	$	—	$	—	$	124,163
Emerging & Other	(21,790)		$	—	$	715	$	9,127	$	3,318	$	(19,738)	$	(28,368)
Corporate	(166,751)		$	66,083	$	12,051	$	—	$	—	$	—	$	(88,617)
Total	(50,449)
Interest expense—third party	(11,904)
Interest income, net—related party	420
Other income, net	33,627
Loss before income taxes	(28,306)
Income tax benefit	60,489
Net earnings	32,183
Net earnings attributable to noncontrolling interests	(9,288)
Net earnings attributable to Old IAC equity in IAC Holdings, Inc.	$	22,895


	Year Ended December 31, 2018
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Adjustments		Adjusted EBITDA
	(In thousands)
ANGI Homeservices	$	63,906	$	97,078	$	24,310	$	62,212	$	—	$	247,506
Vimeo	(35,594)		$	—	$	1,200	$	6,349	$	—	$	(28,045)
Dotdash	18,778		$	—	$	969	$	1,637	$	—	$	21,384
Search	151,425		$	—	$	3,311	$	28,169	$	—	$	182,905
Emerging & Other	(26,627)		$	919	$	969	$	8,714	$	1,136	$	(14,889)
Corporate	(136,053)		$	50,408	$	11,634	$	—	$	—	$	(74,011)
Total	35,835
Interest expense—third party	(13,059)
Interest income, net—related party	325
Other income, net	282,470
Earnings before income taxes	305,571
Income tax provision	(13,200)
Net earnings	292,371
Net earnings attributable to noncontrolling interests	(45,599)
Net earnings attributable to Old IAC equity in IAC Holdings, Inc.	$	246,772


	Year Ended December 31, 2017
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Adjustments		Adjusted EBITDA
	(In thousands)
ANGI Homeservices	$	(149,176)	$	149,230	$	14,543	$	23,261	$	—	$	37,858
Vimeo	(27,328)		$	—	$	1,408	$	2,313	$	—	$	(23,607)
Dotdash	(15,694)		$	—	$	2,255	$	10,676	$	—	$	(2,763)
Search	153,986		$	—	$	6,026	$	2,011	$	—	$	162,023
Emerging & Other	(780)		$	401	$	1,066	$	889	$	548	$	2,124
Corporate	(125,640)		$	42,374	$	15,518	$	—	$	—	$	(67,748)
Total	(164,632)
Interest expense—third party	(2,181)
Interest income, net—related party	23,656
Other income, net	12,363
Loss before income taxes	(130,794)
Income tax benefit	155,402
Net earnings	24,608
Net loss attributable to noncontrolling interests	12,398
Net earnings attributable to Old IAC equity in IAC Holdings, Inc.	$	37,006

Schedule of Capital Expenditures by Segment

The following table presents capital expenditures by reportable segment:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Capital expenditures:
ANGI Homeservices	$	68,804	$	46,976	$	26,837
Vimeo	2,801		209		109
Dotdash	—		102		825
Search	43		479		251
Emerging & Other	387		751		291
Corporate	25,863		6,163		17,840
Total	$	97,898	$	54,680	$	46,153

LEASES (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Schedule of Supplemental Balance Sheet Information of Leases

Leases

Balance Sheet Classification

December 31, 2019

(In thousands)

Assets:

Right-of-use assets

Right-of-use assets, net

138,608

Liabilities:

Current lease liabilities

Accrued expenses and other current liabilities

23,188

Long-term lease liabilities

Other long-term liabilities

168,321

Total lease liabilities

191,509

Schedule of Lease Cost and Other Information

Lease Expense

Income Statement Classification

Year Ended December 31, 2019

(In thousands)

Fixed lease expense

Cost of revenue

547

Fixed lease expense

Selling and marketing expense

10,613

Fixed lease expense

General and administrative expense

17,751

Fixed lease expense

Product development expense

1,502

Total fixed lease expense ^(a)

30,413

Variable lease expense

Cost of revenue

Variable lease expense

Selling and marketing expense

1,573

Variable lease expense

General and administrative expense

5,729

Variable lease expense

Product development expense

391

Total variable lease expense

7,776

Net lease expense

38,189

_____________________

^(a)Includes approximately $2.2 million of short-term lease expense and $7.6 million of sublease income for the year ended December 31, 2019.


	Year Ended December 31, 2019
	(In thousands)
Other Information:
Right-of-use assets obtained in exchange for lease liabilities	$	61,657
Cash paid for amounts included in the measurement of lease liabilities	$	35,321

Schedule of Maturities of Operating Lease Liabilities

Maturities of lease liabilities as of December 31, 2019 (in thousands) ^(b):


Years Ended December 31,
2020	$	32,688
2021	30,200
2022	27,543
2023	25,838
2024	23,318
Thereafter	221,479
Total	361,066
Less: interest	169,557
Present value of lease liabilities	$	191,509

_____________________

^(b) Lease payments exclude $37.3 million of legally binding minimum lease payments for leases signed but not yet commenced.

Schedule of Weighted-Average Lease Term and Discount Rate of Leases

The following are the weighted average assumptions used for lease term and discount rate as of December 31, 2019:


Remaining lease term	17.4 years
Discount rate	6.12	%

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of Commercial Commitments Outstanding

Future payments under noncancelable unconditional purchase obligations as of December 31, 2019 are as follows:


	Amount of Commitment Expiration Per Period
	Less Than 1 Year		1-3 Years		3-5 Years		More Than 5 Years		Total Amounts Committed
	(In thousands)
Purchase obligations	$	75,243	$	41,423	$	—	$	—	$	116,666

RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Related Party Transactions

The following table summarizes the components of the net decrease (increase) in Old IAC’s investment in IAC Holdings, Inc. for the years ended December 31, 2019, 2018 and 2017:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Cash transfers (from) to Old IAC related to its centrally managed U.S. treasury function, acquisitions and cash expenses paid by Old IAC on behalf of IAC Holdings, Inc., net	$	(182,382)	$	215,993	$	(21,058)
Taxes	(1,874)		1,120		44,798
Interest income, net	420		325		23,656
Allocation of costs from Old IAC	(80,143)		(71,977)		(62,180)
Net (increase) decrease in Old IAC's investment in IAC Holdings, Inc.	$	(263,979)	$	145,461	$	(14,784)

COMBINED FINANCIAL STATEMENT DETAILS (Tables)

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Other Current Assets


	December 31,
	2019		2018
	(In thousands)
Other current assets:
Capitalized costs to obtain a contract with a customer	$	43,069	$	40,601
Prepaid expenses	41,934		36,636
Capitalized downloadable search toolbar costs, net	21,985		33,365
Other	45,346		56,857
Other current assets	$	152,334	$	167,459

Schedule of Property and Equipment, Net


Asset Category			Estimated Useful Lives
Buildings and leasehold improvements			3 to 39 Years
Capitalized software and computer equipment			2 to 3 Years
Furniture and other equipment			3 to 12 Years


	December 31,
	2019		2018
	(In thousands)
Property and equipment, net:
Buildings and leasehold improvements	$	242,882	$	224,497
Capitalized software and computer equipment	124,523		93,000
Furniture and other equipment	84,640		79,299
Land	11,591		11,591
Projects in progress	43,576		25,835
Property and equipment	507,212		434,222
Accumulated depreciation and amortization	(201,798)		(173,774)
Property and equipment, net	$	305,414	$	260,448

Schedule of Accrued Expenses and Other Current Liabilities


	December 31,
	2019		2018
	(In thousands)
Accrued expenses and other current liabilities:
Accrued employee compensation and benefits	$	105,960	$	99,205
Accrued advertising expense	59,269		64,626
Accrued revenue share	30,574		28,284
Other	124,670		107,450
Accrued expenses and other current liabilities	$	320,473	$	299,565

Schedule of Other (Expense) Income, Net


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Other income, net	$	33,627	$	282,470	$	12,363

Schedule of Cash and Cash Equivalents


	December 31, 2019		December 31, 2018		December 31, 2017		December 31, 2016
	(In thousands)
Cash and cash equivalents	$	839,796	$	884,975	$	757,202	$	521,416
Restricted cash included in other current assets	527		1,441		2,737		204
Restricted cash included in other assets	409		420		—		10,548
Total cash and cash equivalents and restricted cash as shown on the combined statement of cash flows	$	840,732	$	886,836	$	759,939	$	532,168

Schedule of Restricted Cash


	December 31, 2019		December 31, 2018		December 31, 2017		December 31, 2016
	(In thousands)
Cash and cash equivalents	$	839,796	$	884,975	$	757,202	$	521,416
Restricted cash included in other current assets	527		1,441		2,737		204
Restricted cash included in other assets	409		420		—		10,548
Total cash and cash equivalents and restricted cash as shown on the combined statement of cash flows	$	840,732	$	886,836	$	759,939	$	532,168

Schedule of Supplemental Disclosure of Cash Flow Information

Supplemental Disclosure of Cash Flow Information:


	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Cash paid (received) during the year for:
Interest	$	10,042	$	13,108	$	8
Income tax payments	$	4,861	$	4,084	$	6,508
Income tax refunds	$	(3,048)	$	(30,320)	$	(11,618)

QUARTERLY RESULTS (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Results


	Quarter Ended March 31^(a)		Quarter Ended June 30^(a)		Quarter Ended September 30^(a)		Quarter Ended December 31^(a)
	(In thousands)
Year Ended December 31, 2019
Revenue	$	641,220	$	688,685	$	705,382	$	670,514
Cost of revenue	$	139,848	$	149,725	$	158,161	$	152,506
Operating (loss) income	$	(34,183)	$	(13,770)	$	13,912	$	(16,408)
Net (loss) earnings	$	(13,673)	$	22,021	$	18,378	$	5,457
Net (loss) earnings attributable to Old IAC equity in IAC Holdings, Inc.	$	(14,247)	$	13,789	$	16,466	$	6,887


	Quarter Ended March 31^(b)		Quarter Ended June 30^(c)		Quarter Ended September 30^(d)		Quarter Ended December 31^(e)
	(In thousands)
Year Ended December 31, 2018
Revenue	$	587,709	$	637,928	$	660,649	$	646,762
Cost of revenue	$	108,021	$	120,890	$	129,727	$	142,514
Operating (loss) income	$	(16,356)	$	24,479	$	39,177	$	(11,465)
Net (loss) earnings	$	(5,002)	$	164,482	$	38,163	$	94,728
Net (loss) earnings attributable to Old IAC equity in IAC Holdings, Inc.	$	(2,809)	$	125,686	$	34,601	$	89,294

_______________________________________________________________________________

^(c)The second quarter of 2018 includes:

ii.after-tax realized and unrealized gains of $131.5 million related to the sale of a certain equity investment.

^(e)The fourth quarter of 2018 includes:

ii.combined after-tax gains of $91.4 million related to the sales of Dictionary.com, Electus, Felix and CityGrid.

iii.after-tax impairment charges related to indefinite-lived intangible assets of $20.8 million.

ORGANIZATION AND BASIS OF PRESENTATION - NARRATIVE (Details) service_professional in Thousands, project in Millions	12 Months Ended
	Dec. 31, 2019 service_category service_professional project
Noncontrolling Interest [Line Items]
Number of service categories \| service_category	500
Number of service professionals \| service_professional	250
Number of projects \| project	25
ANGI Homeservices
Noncontrolling Interest [Line Items]
Ownership interest (as a percent)	84.10%
Voting interest (as a percent)	98.10%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)		3 Months Ended								12 Months Ended
	Jan. 01, 2018 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2019 USD ($) putOrCall	Dec. 31, 2018 USD ($) putOrCall	Dec. 31, 2017 USD ($) putOrCall	Oct. 01, 2019 USD ($)	Jan. 01, 2019 USD ($)
Intangible Assets and Goodwill
Equity method investments		$ 0				$ 0				$ 0	$ 0
Current capitalized contract costs	$ 30,900,000	43,069,000				40,601,000				43,069,000	40,601,000
Non-current capitalized contract costs	4,700,000	6,200,000				4,500,000				6,200,000	4,500,000
Deferred tax liabilities		44,459,000				137,642,000				44,459,000	137,642,000
Increase (decrease) in deferred revenue										28,136,000	36,409,000	$ 4,498,000
Amortization of capitalized contract costs										$ 99,800,000	70,600,000
Period of payment due from customers for accounts receivable										30 days
Deferred revenue	133,900,000	179,900,000				151,800,000				$ 179,900,000	151,800,000
Deferred revenue recognized during period										146,500,000	131,900,000
Current deferred revenue		178,647,000				150,080,000				178,647,000	150,080,000
Non-current deferred revenue		1,300,000				1,700,000				$ 1,300,000	1,700,000
Maturity period at purchase (less than)										91 days
Revenue		670,514,000	$ 705,382,000	$ 688,685,000	$ 641,220,000	646,762,000	$ 660,649,000	$ 637,928,000	$ 587,709,000	$ 2,705,801,000	2,533,048,000	1,952,607,000
Accounts receivable, net of allowance and reserves		181,875,000				180,137,000				181,875,000	180,137,000
Goodwill		1,616,867,000				1,484,117,000				1,616,867,000	1,484,117,000	1,313,514,000
Goodwill impairment										$ 3,318,000	0	0
Estimated weighted-average useful life (in years)										18 months
Property and equipment, net		305,414,000				260,448,000				$ 305,414,000	260,448,000
Goodwill		265,100,000								265,100,000
Advertising expense										855,200,000	798,100,000	750,500,000
Amounts reclassified to earnings										$ 0	$ 52,000	$ 41,000
Put and call arrangements exercised \| putOrCall										1	2	2
Right-of-use assets, net		138,608,000				0				$ 138,608,000	$ 0
Lease liability		191,509,000								191,509,000
Accounting Standards Update 2014-09
Intangible Assets and Goodwill
Retained earnings	40,300,000
Revenue											2,533,048,000
Accounting Standards Update 2016-02
Intangible Assets and Goodwill
Right-of-use assets, net														$ 119,600,000
Lease liability														$ 119,600,000
Redeemable Noncontrolling Interest
Intangible Assets and Goodwill
Purchase of noncontrolling interests										11,600,000	6,600,000	$ 6,400,000
Trade names
Intangible Assets and Goodwill
Impairment charges on indefinite-lived intangible assets						27,700,000
Software and software development costs
Intangible Assets and Goodwill
Property and equipment, net		56,300,000				38,600,000				56,300,000	38,600,000
Google Inc.
Intangible Assets and Goodwill
Accounts receivable, net of allowance and reserves		$ 53,000,000.0				$ 69,100,000				$ 53,000,000.0	$ 69,100,000
Google Inc. \| Revenue \| Customer Concentration Risk
Intangible Assets and Goodwill
Concentration risk (as a percent)										27.00%	33.00%	38.00%
Minimum \| Discount Rate
Intangible Assets and Goodwill
Measurement input (as a percent)		0.125				0.125				0.125	0.125
Minimum \| Discount Rate \| Indefinite-lived Intangible Assets
Intangible Assets and Goodwill
Measurement input (as a percent)		0.115				0.115				0.115	0.115
Minimum \| Royalty Rate \| Indefinite-lived Intangible Assets
Intangible Assets and Goodwill
Measurement input (as a percent)		0.01				0.0075				0.01	0.0075
Maximum \| Discount Rate
Intangible Assets and Goodwill
Measurement input (as a percent)						0.150					0.150
Maximum \| Discount Rate \| Indefinite-lived Intangible Assets
Intangible Assets and Goodwill
Measurement input (as a percent)		0.275				0.35				0.275	0.35
Maximum \| Royalty Rate \| Indefinite-lived Intangible Assets
Intangible Assets and Goodwill
Measurement input (as a percent)		0.055				0.055				0.055	0.055
Desktop \| Trade names
Intangible Assets and Goodwill
Impairment charges on indefinite-lived intangible assets											$ 27,700,000
College Humor Media
Intangible Assets and Goodwill
Goodwill impairment										$ 3,300,000
College Humor Media \| Trade names
Intangible Assets and Goodwill
Impairment charges on indefinite-lived intangible assets										$ 700,000	1,100,000
ANGI Homeservices
Intangible Assets and Goodwill
Period of membership subscription										1 year
Goodwill		$ 884,296,000				$ 895,071,000				$ 884,296,000	895,071,000	$ 770,664,000
Market capitalization													$ 3,600,000,000
Amount by which market capitalization exceeds carrying value													$ 2,200,000,000
ANGI Homeservices \| Accounting Standards Update 2014-09
Intangible Assets and Goodwill
Retained earnings	25,900,000
Current capitalized contract costs	29,700,000
Non-current capitalized contract costs	4,200,000
Deferred tax liabilities	8,000,000.0
ANGI Homeservices \| Noncontrolling Interests \| Accounting Standards Update 2014-09
Intangible Assets and Goodwill
Retained earnings	3,400,000
ANGI Homeservices \| Angie's List
Intangible Assets and Goodwill
Period of membership subscription										1 year
Search
Intangible Assets and Goodwill
Goodwill		265,146,000				265,146,000				$ 265,146,000	265,146,000	265,146,000
Search \| Accounting Standards Update 2014-09
Intangible Assets and Goodwill
Retained earnings	15,500,000
Deferred tax liabilities	4,900,000
Increase (decrease) in deferred revenue	$ (20,300,000)
Search \| Desktop
Intangible Assets and Goodwill
Goodwill		28,900,000								28,900,000
Goodwill balance of reporting unit		265,100,000								265,100,000
Search \| Desktop \| Google Inc. \| Revenue \| Customer Concentration Risk
Intangible Assets and Goodwill
Revenue										$ 291,100,000	426,500,000	480,600,000
Search \| Desktop \| Minimum
Intangible Assets and Goodwill
Period of membership subscription										1 year
Search \| Desktop \| Maximum
Intangible Assets and Goodwill
Period of membership subscription										2 years
Search \| Ask Media Group \| Google Inc. \| Revenue \| Customer Concentration Risk
Intangible Assets and Goodwill
Revenue										$ 385,900,000	339,000,000.0	203,500,000
Publishing and Applications \| Google Inc.
Intangible Assets and Goodwill
Revenue										733,500,000	825,200,000	740,700,000
Vimeo
Intangible Assets and Goodwill
Goodwill		219,374,000				77,152,000				$ 219,374,000	77,152,000	77,303,000
Vimeo \| Minimum
Intangible Assets and Goodwill
Period of membership subscription										1 month
Vimeo \| Maximum
Intangible Assets and Goodwill
Period of membership subscription										1 year
Emerging & Other
Intangible Assets and Goodwill
Goodwill		248,051,000				$ 246,748,000				$ 248,051,000	$ 246,748,000	$ 200,401,000
Emerging & Other \| Maximum
Intangible Assets and Goodwill
Period of membership subscription										1 year
Emerging & Other \| College Humor Media
Intangible Assets and Goodwill
Goodwill impairment		$ 3,300,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Effect of Adoption of ASU 2014-09 (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Revenues	$ 670,514	$ 705,382	$ 688,685	$ 641,220	$ 646,762	$ 660,649	$ 637,928	$ 587,709	$ 2,705,801	$ 2,533,048	$ 1,952,607
Operating costs and expenses									2,756,250	2,497,213	2,117,239
Operating income (loss)	(16,408)	13,912	(13,770)	(34,183)	(11,465)	39,177	24,479	(16,356)	(50,449)	35,835	(164,632)
Net (loss) earnings	$ 5,457	$ 18,378	$ 22,021	$ (13,673)	$ 94,728	$ 38,163	$ 164,482	$ (5,002)	32,183	292,371	24,608
Operating segments \| ANGI Homeservices
Disaggregation of Revenue [Line Items]
Revenues									1,326,205	1,132,241	736,386
Operating income (loss)									38,645	63,906	(149,176)
Operating segments \| Vimeo
Disaggregation of Revenue [Line Items]
Revenues									196,015	159,641	103,332
Operating income (loss)									(51,921)	(35,594)	(27,328)
Operating segments \| Dotdash
Disaggregation of Revenue [Line Items]
Revenues									167,594	130,991	90,890
Operating income (loss)									29,021	18,778	(15,694)
Operating segments \| Search
Disaggregation of Revenue [Line Items]
Revenues									742,184	823,950	738,474
Operating income (loss)									122,347	151,425	153,986
Operating segments \| Emerging & Other
Disaggregation of Revenue [Line Items]
Revenues									274,107	286,586	284,132
Operating income (loss)									(21,790)	(26,627)	(780)
Inter-segment eliminations
Disaggregation of Revenue [Line Items]
Revenues									(304)	(361)	(607)
Corporate
Disaggregation of Revenue [Line Items]
Operating income (loss)									$ (166,751)	(136,053)	$ (125,640)
Accounting Standards Update 2014-09
Disaggregation of Revenue [Line Items]
Revenues										2,533,048
Operating costs and expenses										2,497,213
Operating income (loss)										35,835
Net (loss) earnings										292,371
Accounting Standards Update 2014-09 \| Operating segments \| ANGI Homeservices
Disaggregation of Revenue [Line Items]
Revenues										1,132,241
Operating costs and expenses										1,068,335
Operating income (loss)										63,906
Accounting Standards Update 2014-09 \| Operating segments \| Vimeo
Disaggregation of Revenue [Line Items]
Revenues										159,641
Operating costs and expenses										195,235
Operating income (loss)										(35,594)
Accounting Standards Update 2014-09 \| Operating segments \| Dotdash
Disaggregation of Revenue [Line Items]
Revenues										130,991
Operating costs and expenses										112,213
Operating income (loss)										18,778
Accounting Standards Update 2014-09 \| Operating segments \| Search
Disaggregation of Revenue [Line Items]
Revenues										823,950
Operating costs and expenses										672,525
Operating income (loss)										151,425
Accounting Standards Update 2014-09 \| Operating segments \| Emerging & Other
Disaggregation of Revenue [Line Items]
Revenues										286,586
Operating costs and expenses										313,213
Operating income (loss)										(26,627)
Accounting Standards Update 2014-09 \| Inter-segment eliminations
Disaggregation of Revenue [Line Items]
Revenues										(361)
Accounting Standards Update 2014-09 \| Corporate
Disaggregation of Revenue [Line Items]
Operating costs and expenses										135,692
Operating income (loss)										(136,053)
Accounting Standards Update 2014-09 \| Under ASC 605
Disaggregation of Revenue [Line Items]
Revenues										2,533,543
Operating costs and expenses										2,500,321
Operating income (loss)										33,222
Net (loss) earnings										290,487
Accounting Standards Update 2014-09 \| Under ASC 605 \| Operating segments \| ANGI Homeservices
Disaggregation of Revenue [Line Items]
Revenues										1,132,241
Operating costs and expenses										1,073,275
Operating income (loss)										58,966
Accounting Standards Update 2014-09 \| Under ASC 605 \| Operating segments \| Vimeo
Disaggregation of Revenue [Line Items]
Revenues										160,931
Operating costs and expenses										196,212
Operating income (loss)										(35,281)
Accounting Standards Update 2014-09 \| Under ASC 605 \| Operating segments \| Dotdash
Disaggregation of Revenue [Line Items]
Revenues										130,991
Operating costs and expenses										112,213
Operating income (loss)										18,778
Accounting Standards Update 2014-09 \| Under ASC 605 \| Operating segments \| Search
Disaggregation of Revenue [Line Items]
Revenues										830,447
Operating costs and expenses										672,525
Operating income (loss)										157,922
Accounting Standards Update 2014-09 \| Under ASC 605 \| Operating segments \| Emerging & Other
Disaggregation of Revenue [Line Items]
Revenues										279,294
Operating costs and expenses										310,404
Operating income (loss)										(31,110)
Accounting Standards Update 2014-09 \| Under ASC 605 \| Inter-segment eliminations
Disaggregation of Revenue [Line Items]
Revenues										(361)
Accounting Standards Update 2014-09 \| Under ASC 605 \| Corporate
Disaggregation of Revenue [Line Items]
Operating costs and expenses										135,692
Operating income (loss)										(136,053)
Accounting Standards Update 2014-09 \| Effect of adoption of ASU No. 2014-09
Disaggregation of Revenue [Line Items]
Revenues										(495)
Operating costs and expenses										(3,108)
Operating income (loss)										2,613
Net (loss) earnings										1,884
Accounting Standards Update 2014-09 \| Effect of adoption of ASU No. 2014-09 \| Operating segments \| ANGI Homeservices
Disaggregation of Revenue [Line Items]
Revenues										0
Operating costs and expenses										(4,940)
Operating income (loss)										4,940
Accounting Standards Update 2014-09 \| Effect of adoption of ASU No. 2014-09 \| Operating segments \| Vimeo
Disaggregation of Revenue [Line Items]
Revenues										(1,290)
Operating costs and expenses										(977)
Operating income (loss)										(313)
Accounting Standards Update 2014-09 \| Effect of adoption of ASU No. 2014-09 \| Operating segments \| Dotdash
Disaggregation of Revenue [Line Items]
Revenues										0
Operating costs and expenses										0
Operating income (loss)										0
Accounting Standards Update 2014-09 \| Effect of adoption of ASU No. 2014-09 \| Operating segments \| Search
Disaggregation of Revenue [Line Items]
Revenues										(6,497)
Operating costs and expenses										0
Operating income (loss)										(6,497)
Accounting Standards Update 2014-09 \| Effect of adoption of ASU No. 2014-09 \| Operating segments \| Emerging & Other
Disaggregation of Revenue [Line Items]
Revenues										7,292
Operating costs and expenses										2,809
Operating income (loss)										4,483
Accounting Standards Update 2014-09 \| Effect of adoption of ASU No. 2014-09 \| Inter-segment eliminations
Disaggregation of Revenue [Line Items]
Revenues										0
Accounting Standards Update 2014-09 \| Effect of adoption of ASU No. 2014-09 \| Corporate
Disaggregation of Revenue [Line Items]
Operating costs and expenses										0
Operating income (loss)										$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimated Useful Lives of Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2019
Buildings and leasehold improvements \| Minimum
Property and equipment, net:
Estimated useful lives, minimum (in years)	3 years
Buildings and leasehold improvements \| Maximum
Property and equipment, net:
Estimated useful lives, minimum (in years)	39 years
Capitalized software and computer equipment \| Minimum
Property and equipment, net:
Estimated useful lives, minimum (in years)	2 years
Capitalized software and computer equipment \| Maximum
Property and equipment, net:
Estimated useful lives, minimum (in years)	3 years
Furniture and other equipment \| Minimum
Property and equipment, net:
Estimated useful lives, minimum (in years)	3 years
Furniture and other equipment \| Maximum
Property and equipment, net:
Estimated useful lives, minimum (in years)	12 years

INCOME TAXES - Income before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
U.S.	$ (74,360)	$ 269,267	$ (141,519)
Foreign	46,054	36,304	10,725
Earnings (loss) before income taxes	$ (28,306)	$ 305,571	$ (130,794)

INCOME TAXES - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current income tax provision (benefit):
Federal	$ (1,117)	$ (1,187)	$ (29,754)
State	197	1,514	2,262
Foreign	3,201	4,108	(1,175)
Current income tax provision (benefit)	2,281	4,435	(28,667)
Deferred income tax (benefit) provision:
Federal	(51,952)	20,156	(118,744)
State	(10,645)	(7,272)	(6,755)
Foreign	(173)	(4,119)	(1,236)
Deferred income tax (benefit) provision	(62,770)	8,765	(126,735)
Income tax (benefit) provision	$ (60,489)	$ 13,200	$ (155,402)

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Tax Credit Carryforwards
Adjustment to net deferred tax liability	$ 10,100	$ 44,300
Deferred Tax Assets, Operating Loss Carryforwards, Components [Abstract]
Income tax benefit related to net operating loss carryforwards		70,800
Income tax benefit related to net operating loss carryforwards recorded as reduction to goodwill		26,900
Tax credit carryforwards	50,200	50,200
Tax credit carryforwards that can be carried forward indefinitely		12,800
Tax credit carryforwards expiring primarily by 2018 and 2037		37,400
Gross deferred tax assets	378,834	378,834	$ 262,631
Net deferred tax liabilities	44,252	44,252	137,255
Valuation Allowance
Increase (decrease) in valuation allowance		(6,200)
Valuation allowance at end of period	93,000	93,000
Income Taxes Paid, Net [Abstract]
Interest on income taxes accrued	2,300	2,300	1,800
Income tax penalties accrued	200	200	200
Unrecognized tax benefits including tax interest accrued	20,300	20,300	17,200
Tax positions for which the ultimate deductibility is highly certain but timing is uncertain	18,900	18,900	16,100
Change in unrecognized tax benefits unrelated to Federal income taxes statute of limitations expiring within twelve months of current reporting period	10,600	10,600
Tax benefits that would impact effective tax rate	10,300	10,300
Federal Tax Authority
Deferred Tax Assets, Operating Loss Carryforwards, Components [Abstract]
Net operating loss carryforwards	506,300	506,300
Net operating loss carryforwards without restrictions		200,900
State Tax Authority
Deferred Tax Assets, Operating Loss Carryforwards, Components [Abstract]
Net operating loss carryforwards	552,800	552,800
Net operating loss carryforwards without restrictions		248,500
Tax credit carryforwards	2,400	2,400
Foreign Tax Authority
Deferred Tax Assets, Operating Loss Carryforwards, Components [Abstract]
Net operating loss carryforwards	337,900	337,900
Net operating loss carryforwards not subject to expiration		311,700
Net operating loss carryforwards subject to expiration within 20 years		26,200
Tax credit carryforwards	13,600	13,600
Tax credit carryforwards related to research and development	34,200	34,200
Continuing Operations
Deferred Tax Assets, Operating Loss Carryforwards, Components [Abstract]
Gross deferred tax assets	277,400	277,400
Net deferred tax liabilities	31,500	31,500
Net deferred tax assets	245,900	245,900
Income Taxes Paid, Net [Abstract]
Unrecognized tax (benefit) expense net of related deferred taxes		100	100	$ 100
Deferred taxes for interest on unrecognized tax benefits (continuing operations)		100	100	$ 100
Unrecognized tax benefits including tax interest accrued	$ 11,600	$ 11,600	$ 9,000

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Net operating loss carryforwards	$ 201,766	$ 129,500
Stock-based compensation	62,566	64,776
Long-term lease liabilities	42,486	0
Tax credit carryforwards	38,066	34,065
Accrued expenses	12,911	17,577
Other	21,039	16,713
Total deferred tax assets	378,834	262,631
Less: valuation allowance	(92,990)	(86,778)
Net deferred tax assets	285,844	175,853
Deferred tax liabilities:
Investment in subsidiaries	(240,420)	(240,590)
Right-of-use assets	(29,654)
Intangible assets	(28,488)	(35,380)
Investment in Pinterest	0	(23,018)
Other	(31,534)	(14,120)
Total deferred tax liabilities	(330,096)	(313,108)
Net deferred tax assets	$ (44,252)	$ (137,255)

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income tax (benefit) provision at the federal statutory rate of 21% (35% for 2017)	$ (5,944)	$ 64,170	$ (45,778)
State income taxes, net of effect of federal tax benefit	(277)	5,188	(4,856)
Stock-based compensation	(56,871)	(39,326)	(75,895)
Non-deductible executive compensation	7,409	2,983	123
Change in valuation allowance on capital losses	(5,815)	(1,280)	(825)
Non-deductible expenses	5,460	1,727	5,211
Research credit	(5,105)	(3,167)	(4,593)
Withholding taxes	1,008	703	510
Deferred tax adjustment for enacted changes in tax laws and rates	(687)	(13,646)	(68,513)
Foreign income taxed at a different statutory tax rate	(672)	(866)	(6,087)
Transition tax	0	0	46,003
Other, net	1,005	(3,286)	(702)
Income tax (benefit) provision	$ (60,489)	$ 13,200	$ (155,402)

INCOME TAXES - Income Tax Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns
Balance at beginning of the period	$ 15,451	$ 14,528	$ 12,766
Additions based on tax positions related to the current year	2,781	1,455	1,399
Additions for tax positions of prior years	238	235	870
Expiration of applicable statutes of limitations	(410)	(767)	(507)
Balance at end of the period	$ 18,060	$ 15,451	$ 14,528

BUSINESS COMBINATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions		3 Months Ended		12 Months Ended
	Sep. 29, 2017	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Write-off due to deferred revenue		$ 1,800	$ 2,800
Angie's List
Business Acquisition [Line Items]
Proportion of voting interests acquired (as a percent)	100.00%
Total purchase price	$ 781,384
Basis of purchase price (shares)	61.3
Share price (USD per share)	$ 12.46
Cash acquisition price	$ 1,900
Cash per share paid to acquiree shareholders' who elected payout (USD per share)	$ 8.50
Revenue				$ 58,900
Net earnings (loss)				(21,800)
One-Time Acquisition-related Costs
Business Acquisition [Line Items]
Severance costs				28,700
Severance and retention costs				19,800
Write-off due to deferred revenue				7,800
Adjustment to decrease in transaction related costs				34,100
Modification of Equity Awards
Business Acquisition [Line Items]
Adjustment to increase (decrease) in share-based compensation				77,100
Amortization Adjustment
Business Acquisition [Line Items]
Adjustment to decrease in amortization of intangible assets				$ (31,900)

BUSINESS COMBINATION - Purchase Price (Details) - Angie's List $ in Thousands	Sep. 29, 2017 USD ($)
Business Acquisition [Line Items]
Cash consideration for holders who elected to receive $8.50 in cash per share of Angie's List common stock	$ 1,900
Total purchase price	781,384
Common Stock
Business Acquisition [Line Items]
Consideration transferred, equity interests	763,684
Cash consideration for holders who elected to receive $8.50 in cash per share of Angie's List common stock	1,913
Common Stock \| Fair value of vested and pro rata portion of unvested stock options attributable to pre-combination services
Business Acquisition [Line Items]
Consideration transferred, equity interests	11,749
Common Stock \| Fair value of the pro rata portion of unvested restricted stock units attributable to pre-combination services
Business Acquisition [Line Items]
Consideration transferred, equity interests	$ 4,038

BUSINESS COMBINATION - Preliminary Estimated Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Sep. 29, 2017
Business Acquisition [Line Items]
Goodwill	$ 1,616,867	$ 1,484,117	$ 1,313,514
Angie's List
Business Acquisition [Line Items]
Cash and cash equivalents				$ 44,270
Other current assets				11,280
Property and equipment				16,341
Goodwill				543,674
Intangible assets				317,300
Total assets				932,865
Deferred revenue				(32,595)
Other current liabilities				(46,150)
Long-term debt—related party				(61,498)
Deferred income taxes				(9,833)
Other long-term liabilities				(1,405)
Net assets acquired				$ 781,384

BUSINESS COMBINATION - Preliminary Estimated Fair Value of Intangible Assets Acquired (Details) - USD ($) $ in Thousands		12 Months Ended
	Sep. 29, 2017	Dec. 31, 2019
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)		18 months
Angie's List
Acquired Intangible Assets [Line Items]
Total identifiable intangible assets acquired	$ 317,300
Angie's List \| Service providers
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 90,500
Weighted-Average Useful Life (Years)	3 years
Angie's List \| Developed technology
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 63,900
Weighted-Average Useful Life (Years)	6 years
Angie's List \| Memberships
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 15,900
Weighted-Average Useful Life (Years)	3 years
Angie's List \| User base
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 10,000
Weighted-Average Useful Life (Years)	1 year
Angie's List \| Indefinite-lived trade names and trademarks
Acquired Intangible Assets [Line Items]
Indefinite-lived trade name and trademarks	$ 137,000

BUSINESS COMBINATION - Pro-Forma Financial Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($)
Business Acquisition, Pro Forma Information [Abstract]
Revenue	$ 2,174,968
Net earnings attributable to Old IAC equity in IAC Holdings, Inc.	$ 96,578

GOODWILL AND INTANGIBLE ASSETS - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 1,616,867	$ 1,484,117	$ 1,313,514
Intangible assets with indefinite lives	225,296	227,420
Intangible assets with definite lives, net of accumulated amortization	124,854	166,362
Total goodwill and intangible assets, net	$ 1,967,017	$ 1,877,899

GOODWILL AND INTANGIBLE ASSETS - Goodwill by Reporting Unit (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($) operating_segment reportingunit	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Goodwill
Balance at beginning of period			$ 1,484,117	$ 1,313,514
Additions			165,313	197,236
(Deductions)			(29,293)	(22,264)
Impairment			(3,318)
Foreign Exchange Translation			48	(4,369)
Balance at end of period	$ 1,616,867	$ 1,484,117	1,616,867	1,484,117	$ 1,313,514
Goodwill impairment			3,318	0	0
College Humor Media
Goodwill
Goodwill impairment			3,300
ANGI Homeservices
Goodwill
Balance at beginning of period			895,071	770,664
Additions			18,326	142,768
(Deductions)			(29,293)	(14,449)
Impairment			0	0
Foreign Exchange Translation			192	(3,912)
Balance at end of period	884,296	895,071	884,296	895,071	770,664
Vimeo
Goodwill
Balance at beginning of period			77,152	77,303
Additions			142,222	0
(Deductions)			0	(151)
Impairment			0	0
Foreign Exchange Translation			0	0
Balance at end of period	219,374	77,152	219,374	77,152	77,303
Search
Goodwill
Balance at beginning of period			265,146	265,146
Additions			0	0
(Deductions)			0	0
Impairment			0	0
Foreign Exchange Translation			0	0
Balance at end of period	265,146	265,146	265,146	265,146	265,146
Accumulated goodwill impairment loss	716,200		716,200
Emerging & Other
Goodwill
Balance at beginning of period			246,748	200,401
Additions			4,765	54,468
(Deductions)			0	(7,664)
Impairment			(3,318)	0
Foreign Exchange Translation			(144)	(457)
Balance at end of period	248,051	246,748	248,051	246,748	$ 200,401
Emerging & Other \| College Humor Media
Goodwill
Goodwill impairment	3,300
Accumulated goodwill impairment loss	14,900	$ 11,600	14,900	11,600
Publishing
Goodwill
Number of operating segments \| operating_segment		1
Number of reporting units \| reportingunit		1
Dotdash
Goodwill
Accumulated goodwill impairment loss	$ 198,300	$ 198,300	$ 198,300	$ 198,300

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets with Definite Lives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Intangible assets with definite lives
Gross Carrying Amount	$ 326,308	$ 290,924
Accumulated Amortization	(201,454)	(124,562)
Total	$ 124,854	$ 166,362
Weighted-Average Useful Life (Years)	3 years 8 months 12 days	3 years 8 months 12 days
Technology
Intangible assets with definite lives
Gross Carrying Amount	$ 143,255	$ 132,588
Accumulated Amortization	(73,483)	(48,339)
Total	$ 69,772	$ 84,249
Weighted-Average Useful Life (Years)	4 years 6 months	4 years 7 months 6 days
Service professional relationships
Intangible assets with definite lives
Gross Carrying Amount	$ 99,651	$ 99,528
Accumulated Amortization	(76,445)	(44,674)
Total	$ 23,206	$ 54,854
Weighted-Average Useful Life (Years)	2 years 10 months 24 days	2 years 10 months 24 days
Customer lists and user base
Intangible assets with definite lives
Gross Carrying Amount	$ 44,286	$ 29,829
Accumulated Amortization	(24,226)	(14,857)
Total	$ 20,060	$ 14,972
Weighted-Average Useful Life (Years)	3 years 3 months 18 days	2 years 10 months 24 days
Memberships
Intangible assets with definite lives
Gross Carrying Amount	$ 15,900	$ 15,900
Accumulated Amortization	(11,940)	(6,640)
Total	$ 3,960	$ 9,260
Weighted-Average Useful Life (Years)	3 years	3 years
Trade names
Intangible assets with definite lives
Gross Carrying Amount	$ 12,777	$ 7,579
Accumulated Amortization	(8,082)	(4,579)
Total	$ 4,695	$ 3,000
Weighted-Average Useful Life (Years)	3 years 6 months	3 years 10 months 24 days
Other
Intangible assets with definite lives
Gross Carrying Amount	$ 10,439	$ 5,500
Accumulated Amortization	(7,278)	(5,473)
Total	$ 3,161	$ 27
Weighted-Average Useful Life (Years)	3 years 4 months 24 days	4 years 7 months 6 days

GOODWILL AND INTANGIBLE ASSETS - Expected Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 61,792
2021	26,108
2022	21,830
2023	12,306
2024	1,316
Thereafter	1,502
Total	$ 124,854	$ 166,362

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Narrative (Details)	12 Months Ended
	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2019 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale marketable debt securities in a continuous unrealized loss position for longer than twelve months		$ 0
Proceeds from maturities and sales of available-for-sale marketable debt securities	$ 25,000,000.0	35,000,000.0
Gross realized gains (losses)	0	0
Equity securities without readily determinable fair values	347,975,000	225,979,000
Net gain (loss) on equity securities without readily determinable fair value	19,700,000
Cumulative downward price adjustments to equity securities without readily determinable fair value	900,000
Other-than-temporary impairment charges on equity method investments		600,000	$ 2,700,000
Other-than-temporary impairment charges on cost-method investments			$ 7,200,000
Maximum contingent payment	45,000,000.0
Gross fair value of contingent consideration arrangement	12,500,000
Non-current portion of contingent consideration arrangement liability	6,900,000	$ 26,700,000
Turo
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities without readily determinable fair values				$ 250,000,000
Pinterest
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Net gain (loss) on equity securities without readily determinable fair value	$ 20,500,000
Discount Rate \| Contingent Consideration Arrangements
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input (as a percent)	0.25

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Fair Value of Marketable Securities (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Fair Value Disclosures [Abstract]
Available-for-sale marketable debt securities	$ 24,947
Marketable equity security	419
Total marketable securities	$ 25,366

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Current Available-for-Sale Marketable Securities (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 24,947
Gross Unrealized Gains	1
Gross Unrealized Losses	(1)
Fair Value	24,947
Treasury discount notes
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	24,947
Gross Unrealized Gains	1
Gross Unrealized Losses	(1)
Fair Value	$ 24,947

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Long-Term Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Equity securities without readily determinable fair values	$ 347,975	$ 225,979
Total long-term investments	$ 347,975	$ 225,979

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Realized and Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Adjustments to Carrying Value of Equity Securities without Readily Determinable Fair Value [Abstract]
Upward adjustments (gross unrealized gains)	$ 19,698	$ 128,786
Downward adjustments including impairments (gross unrealized losses)	1,193	2,838
Total	18,505	125,948
Adjustments to Carrying Value of Non-Marketable Equity Securities [Abstract]
Realized gains, net, for equity securities sold	22,880	27,366
Unrealized gains, net, on equity securities held	18,505	126,063
Total gains, net, recognized in other income, net	$ 41,385	$ 153,429

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Financial Instruments Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities		$ 24,947
Marketable equity security		419
Total	$ 731,159	809,324
Contingent consideration arrangements	(6,918)	(26,657)
Quoted Market Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable equity security		419
Total	699,589	616,496
Contingent consideration arrangements	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable equity security		0
Total	23,075	192,828
Contingent consideration arrangements	0	0
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable equity security		0
Total	8,495	0
Contingent consideration arrangements	(6,918)	(26,657)
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	699,589	616,077
Money market funds \| Quoted Market Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	699,589	616,077
Money market funds \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Money market funds \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Treasury discount notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		99,914
Marketable securities		24,947
Treasury discount notes \| Quoted Market Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
Marketable securities		0
Treasury discount notes \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		99,914
Marketable securities		24,947
Treasury discount notes \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
Marketable securities		0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		52,931
Commercial paper \| Quoted Market Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
Commercial paper \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		52,931
Commercial paper \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	23,075	15,036
Time deposits \| Quoted Market Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Time deposits \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	23,075	15,036
Time deposits \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	$ 0
Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other non-current assets	8,495
Warrant \| Quoted Market Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other non-current assets	0
Warrant \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other non-current assets	0
Warrant \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other non-current assets	$ 8,495

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Unobservable Inputs of Fair Value Measurements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Contingent Consideration Arrangements
Contingent Consideration Arrangement [Roll Forward]
Balance at January 1	$ (26,657)	$ 0
Fair value at date of acquisition	0	(25,521)
Fair value adjustments	19,739	(1,136)
Balance at December 31	(6,918)	(26,657)
Warrant
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at January 1	0
Fair value at date of acquisition	17,618
Fair value adjustments	(9,123)
Balance at December 31	$ 8,495	$ 0

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable—related party	$ 55,251	$ 0
Current portion of long-term debt	(13,750)	(13,750)
Long-term debt, net	(231,946)	(244,971)
Long-term debt—related party	0	(2,500)
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable—related party	55,251	0
Current portion of long-term debt	(13,750)	(13,750)
Long-term debt, net	(231,946)	(244,971)
Long-term debt—related party	0	(2,500)
Unamortized original issue discount and debt issuance costs	1,800	2,500
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable—related party	55,251	0
Current portion of long-term debt	(13,681)	(12,753)
Long-term debt, net	(232,581)	(229,556)
Long-term debt—related party	$ 0	$ (2,529)

LONG-TERM DEBT - Narrative (Details)			10 Months Ended	12 Months Ended			24 Months Ended
LONG-TERM DEBT - Narrative (Details)	Dec. 31, 2018 USD ($)	Nov. 05, 2018 USD ($)	Nov. 05, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2017 USD ($)	Nov. 01, 2017 USD ($)
ANGI Homeservices \| Term Loan
Debt Instrument
Face amount of debt instrument									$ 275,000,000
ANGI Term Loan due November 5, 2023 \| ANGI Homeservices \| Term Loan
Debt Instrument
Interest rate (as a percent)					3.25%	3.98%
ANGI Term Loan due November 5, 2023 \| ANGI Homeservices \| Term Loan \| Maximum
Debt Instrument
Leverage ratio					4.5
Leverage ratio limiting ability to pay dividends, make distributions, or repurchase stock					4.25
ANGI Term Loan due November 5, 2023 \| ANGI Homeservices \| Term Loan \| Minimum
Debt Instrument
Interest coverage ratio					2.0
ANGI Term Loan due November 5, 2023 \| ANGI Homeservices \| Term Loan \| Forecast
Debt Instrument
Quarterly principal payments			$ 10,300,000	$ 6,900,000			$ 3,400,000
Final principal payment			$ 161,600,000
ANGI Term Loan due November 5, 2023 \| ANGI Homeservices \| Term Loan \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument
Basis spread on variable rate (as a percent)					1.50%	1.50%
Revolving Credit Facility \| ANGI Homeservices Credit Facility \| ANGI Homeservices
Debt Instrument
Term of debt instrument		5 years
Maximum borrowing capacity		$ 250,000,000
Outstanding borrowings	$ 0				$ 0	$ 0
Line of Credit Facility, Commitment Fee Percentage					0.25%	0.25%
Revolving Credit Facility \| IAC Credit Facility
Debt Instrument
Maximum borrowing capacity								$ 250,000,000
Outstanding borrowings	$ 0					$ 0
Line of Credit Facility, Commitment Fee Percentage					0.20%	0.20%
Revolving Credit Facility \| IAC Credit Facility \| Maximum
Debt Instrument
Leverage ratio	2.75				3.25

LONG-TERM DEBT - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument
Total long-term debt	$ 247,500
Less: current portion of long-term debt	13,750	$ 13,750
Less: unamortized debt issuance costs	1,804	2,529
Long-term debt, net	231,946	244,971
ANGI Homeservices \| Term Loan \| ANGI Term Loan due November 5, 2023
Debt Instrument
Total long-term debt	$ 247,500	$ 261,250

LONG-TERM DEBT - Aggregate Contractual Maturities of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
2020	$ 13,750
2021	13,750
2022	27,500
2023	192,500
Total	247,500
Less: current portion of long-term debt	13,750	$ 13,750
Less: unamortized debt issuance costs	1,804	2,529
Long-term debt, net	$ 231,946	$ 244,971

ACCUMULATED OTHER COMPREHENSIVE LOSS - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Loss
Balance at beginning of period	$ 2,684,400	$ 2,256,320	$ 1,250,920
Other comprehensive (loss) income before reclassifications	335	(4,974)	14,408
Amounts reclassified to earnings	0	(52)	(41)
Other comprehensive loss	335	(5,026)	14,367
Allocation of accumulated other comprehensive loss related to noncontrolling interests	20	11	7
Balance at end of period	3,005,146	2,684,400	2,256,320
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Loss
Balance at beginning of period	(12,543)	(7,504)	(21,864)
Other comprehensive (loss) income before reclassifications	337	(4,976)	14,408
Amounts reclassified to earnings		(52)	(41)
Other comprehensive loss	337	(5,028)	14,367
Allocation of accumulated other comprehensive loss related to noncontrolling interests	20	11	7
Balance at end of period	(12,226)	(12,543)	(7,504)
Unrealized Gains On Available-For-Sale Securities
Accumulated Other Comprehensive Loss
Balance at beginning of period	2	0
Other comprehensive (loss) income before reclassifications	(2)	2
Amounts reclassified to earnings		0
Other comprehensive loss	(2)	2
Allocation of accumulated other comprehensive loss related to noncontrolling interests	0	0
Balance at end of period	0	2	0
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss
Balance at beginning of period	(12,541)	(7,504)	(21,864)
Balance at end of period	$ (12,226)	$ (12,541)	$ (7,504)

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=115929471&loc=d3e21930-107793

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 45
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-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

ACCUMULATED OTHER COMPREHENSIVE LOSS - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Equity [Abstract]
Tax (benefit) provision related to unrealized gains/losses on available-for-sale securities	$ 0	$ 0	$ 0

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized compensation cost, net of estimated forfeitures		$ 158,300
Weighted-average period over which cost is expected to be recognized		2 years 2 months 12 days
Income tax benefit		$ 60,489	$ (13,200)	$ 155,402
Aggregate intrinsic value of stock options		$ 871,800
Withholding rate (as a percent)		50.00%
Number of shares required to settle vested and unvested interests at fair value (shares)		100,000
Cash required to settle vested and unvested interests at fair value		$ 20,200
Incremental compensation cost	$ 6,600
Aggregate intrinsic value of equity instruments other than options		40,500
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Income tax benefit		$ 82,400	80,700	124,200
Vesting period		4 years
Employee Stock Options, Net Settled
Share-based Compensation Arrangement by Share-based Payment Award
Income tax benefit		$ 64,200	63,600	95,100
Market-Based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Aggregate withholding taxes assuming net settlement of awards		$ 435,900
Withholding rate (as a percent)		50.00%
Market-Based Stock Options - Vested
Share-based Compensation Arrangement by Share-based Payment Award
Aggregate withholding taxes assuming net settlement of awards		$ 345,800
Market-Based Stock Options - Unvested
Share-based Compensation Arrangement by Share-based Payment Award
Aggregate withholding taxes assuming net settlement of awards		$ 90,100
PSUs
Share-based Compensation Arrangement by Share-based Payment Award
Number of awards outstanding (shares)		0
Restricted Stock Units (RSUs) & Market Based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Aggregate withholding taxes assuming net settlement of awards		$ 45,800
Withholding rate (as a percent)		50.00%
Number of shares required to settle vested and unvested interests at fair value (shares)		200,000
Aggregate intrinsic value of equity instruments other than options		$ 91,600
RSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period		4 years
RSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period		3 years
Market-Based Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period		5 years
Market-Based Stock Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period		3 years
ANGI Homeservices
Share-based Compensation Arrangement by Share-based Payment Award
Withholding rate (as a percent)		50.00%
Cash withholding obligation		$ 43,400
Cash withholding obligation equivalent (shares)		5,100,000
Incremental compensation cost		$ 13,100	7,900
Incremental compensation cost from modification recognized in year of modification			3,900
Aggregate intrinsic value of equity instruments other than options		$ 86,800
ANGI Homeservices \| Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award
Withholding rate (as a percent)		50.00%
Cash required to settle vested and unvested interests at fair value		$ 57,300
Common stock issued (shares)		6,800,000
Incremental compensation cost		$ 217,700
Incremental compensation cost from modification recognized in year of modification		29,000	$ 56,900	$ 93,400
Aggregate intrinsic value of equity instruments other than options		$ 114,600

SEGMENT INFORMATION - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Revenue	$ 670,514	$ 705,382	$ 688,685	$ 641,220	$ 646,762	$ 660,649	$ 637,928	$ 587,709	$ 2,705,801	$ 2,533,048	$ 1,952,607
Operating Segments \| ANGI Homeservices
Segment Reporting Information [Line Items]
Revenue									1,326,205	1,132,241	736,386
Operating Segments \| Vimeo
Segment Reporting Information [Line Items]
Revenue									196,015	159,641	103,332
Operating Segments \| Dotdash
Segment Reporting Information [Line Items]
Revenue									167,594	130,991	90,890
Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenue									742,184	823,950	738,474
Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue									274,107	286,586	284,132
Inter-segment elimination
Segment Reporting Information [Line Items]
Revenue									$ (304)	$ (361)	$ (607)

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

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-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

SEGMENT INFORMATION - Revenue Disaggregated by Service (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 670,514	$ 705,382	$ 688,685	$ 641,220	$ 646,762	$ 660,649	$ 637,928	$ 587,709	$ 2,705,801	$ 2,533,048	$ 1,952,607
Operating Segments \| ANGI Homeservices
Segment Reporting Information [Line Items]
Revenues									1,326,205	1,132,241	736,386
Operating Segments \| Vimeo
Segment Reporting Information [Line Items]
Revenues									196,015	159,641	103,332
Operating Segments \| Dotdash
Segment Reporting Information [Line Items]
Revenues									167,594	130,991	90,890
Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenues									742,184	823,950	738,474
Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenues									274,107	286,586	284,132
North America \| Operating Segments \| ANGI Homeservices
Segment Reporting Information [Line Items]
Revenues									1,249,892	1,062,171	678,897
Europe \| Operating Segments \| ANGI Homeservices
Segment Reporting Information [Line Items]
Revenues									76,313	70,070	57,489
Marketplace \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenues									38,950	19,665	0
Marketplace \| North America \| Operating Segments \| ANGI Homeservices
Segment Reporting Information [Line Items]
Revenues									985,210	774,495	581,414
Consumer Connection \| North America \| Operating Segments \| ANGI Homeservices
Segment Reporting Information [Line Items]
Revenues									913,533	704,341	521,481
Membership Subscription \| North America \| Operating Segments \| ANGI Homeservices
Segment Reporting Information [Line Items]
Revenues									64,706	66,214	56,135
Other \| North America \| Operating Segments \| ANGI Homeservices
Segment Reporting Information [Line Items]
Revenues									6,971	3,940	3,798
Advertising and Other \| North America \| Operating Segments \| ANGI Homeservices
Segment Reporting Information [Line Items]
Revenues									264,682	287,676	97,483
Advertising and Other \| Europe \| Operating Segments \| ANGI Homeservices
Segment Reporting Information [Line Items]
Revenues									2,471	1,795	884
Consumer Connection \| Europe \| Operating Segments \| ANGI Homeservices
Segment Reporting Information [Line Items]
Revenues									59,611	50,913	40,009
Membership Subscription \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenues									194,362	102,592	25,554
Membership Subscription \| Europe \| Operating Segments \| ANGI Homeservices
Segment Reporting Information [Line Items]
Revenues									14,231	17,362	16,596
Service \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenues									3,881	22,142	27,465
Platform \| Operating Segments \| Vimeo
Segment Reporting Information [Line Items]
Revenues									193,736	146,665	99,650
Hardware \| Operating Segments \| Vimeo
Segment Reporting Information [Line Items]
Revenues									2,279	12,976	3,682
Advertising \| Operating Segments \| Dotdash
Segment Reporting Information [Line Items]
Revenues									126,487	103,704	76,316
Advertising \| Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenues									725,994	802,469	703,186
Advertising \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenues									27,858	78,712	91,706
Google Advertising \| Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenues									678,438	770,494	689,633
Google Advertising \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenues									4,486	14,393	16,716
Other \| Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenues									47,556	31,975	13,553
Other \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenues									23,372	64,319	74,990
Affiliate Commerce Commission \| Operating Segments \| Dotdash
Segment Reporting Information [Line Items]
Revenues									41,107	27,287	14,574
Media Production and Distribution \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenues									8,897	61,717	138,006
Other \| Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenues									16,190	21,481	35,288
Other \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenues									$ 159	$ 1,758	$ 1,401

SEGMENT INFORMATION - Revenue and Long-Lived Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue and Long-lived Assets by Geography
Revenue:	$ 2,705,801	$ 2,533,048	$ 1,952,607
Long-lived assets (excluding goodwill and intangible assets)	305,414	260,448
United States
Revenue and Long-lived Assets by Geography
Revenue:	2,097,743	1,951,957	1,569,275
Long-lived assets (excluding goodwill and intangible assets)	297,433	254,751
All other countries
Revenue and Long-lived Assets by Geography
Revenue:	608,058	581,091	$ 383,332
Long-lived assets (excluding goodwill and intangible assets)	$ 7,981	$ 5,697

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

+ Details

SEGMENT INFORMATION - Reconciliation of Adjusted EBITDA to Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting, Other Significant Reconciling Item
Operating (loss) income	$ (16,408)	$ 13,912	$ (13,770)	$ (34,183)	$ (11,465)	$ 39,177	$ 24,479	$ (16,356)	$ (50,449)	$ 35,835	$ (164,632)
Stock-based compensation expense									134,338	148,405	192,005
Depreciation									55,949	42,393	40,816
Amortization of intangibles									83,868	107,081	39,150
Goodwill Impairment									3,318	0	0
Interest expense									(11,904)	(13,059)	(2,181)
Other expense, net									33,627	282,470	12,363
(Loss) earnings before income taxes									(28,306)	305,571	(130,794)
Income tax benefit									60,489	(13,200)	155,402
Net earnings	5,457	18,378	22,021	(13,673)	94,728	38,163	164,482	(5,002)	32,183	292,371	24,608
Net (earnings) loss attributable to noncontrolling interests									(9,288)	(45,599)	12,398
Net earnings attributable to Old IAC equity in IAC Holdings, Inc.	$ 6,887	$ 16,466	$ 13,789	$ (14,247)	$ 89,294	$ 34,601	$ 125,686	$ (2,809)	22,895	246,772	37,006
Operating Segments \| ANGI Homeservices
Segment Reporting, Other Significant Reconciling Item
Operating (loss) income									38,645	63,906	(149,176)
Stock-based compensation expense									68,255	97,078	149,230
Depreciation									39,915	24,310	14,543
Amortization of intangibles									55,482	62,212	23,261
Goodwill Impairment									0
Acquisition-related Contingent Consideration Fair Value Adjustments									0	0	0
Adjusted EBITDA									202,297	247,506	37,858
Operating Segments \| Vimeo
Segment Reporting, Other Significant Reconciling Item
Operating (loss) income									(51,921)	(35,594)	(27,328)
Stock-based compensation expense									0	0	0
Depreciation									478	1,200	1,408
Amortization of intangibles									9,653	6,349	2,313
Goodwill Impairment									0
Acquisition-related Contingent Consideration Fair Value Adjustments									0	0	0
Adjusted EBITDA									(41,790)	(28,045)	(23,607)
Operating Segments \| Dotdash
Segment Reporting, Other Significant Reconciling Item
Operating (loss) income									29,021	18,778	(15,694)
Stock-based compensation expense									0	0	0
Depreciation									974	969	2,255
Amortization of intangibles									9,606	1,637	10,676
Goodwill Impairment									0
Acquisition-related Contingent Consideration Fair Value Adjustments									0	0	0
Adjusted EBITDA									39,601	21,384	(2,763)
Operating Segments \| Search
Segment Reporting, Other Significant Reconciling Item
Operating (loss) income									122,347	151,425	153,986
Stock-based compensation expense									0	0	0
Depreciation									1,816	3,311	6,026
Amortization of intangibles									0	28,169	2,011
Goodwill Impairment									0
Acquisition-related Contingent Consideration Fair Value Adjustments									0	0	0
Adjusted EBITDA									124,163	182,905	162,023
Operating Segments \| Emerging & Other
Segment Reporting, Other Significant Reconciling Item
Operating (loss) income									(21,790)	(26,627)	(780)
Stock-based compensation expense									0	919	401
Depreciation									715	969	1,066
Amortization of intangibles									9,127	8,714	889
Goodwill Impairment									3,318
Acquisition-related Contingent Consideration Fair Value Adjustments									(19,738)	1,136	548
Adjusted EBITDA									(28,368)	(14,889)	2,124
Corporate
Segment Reporting, Other Significant Reconciling Item
Operating (loss) income									(166,751)	(136,053)	(125,640)
Stock-based compensation expense									66,083	50,408	42,374
Depreciation									12,051	11,634	15,518
Amortization of intangibles									0	0	0
Goodwill Impairment									0
Acquisition-related Contingent Consideration Fair Value Adjustments									0	0	0
Adjusted EBITDA									$ (88,617)	$ (74,011)	$ (67,748)

SEGMENT INFORMATION - Capital Expenditures by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Capital expenditures	$ 97,898	$ 54,680	$ 46,153
Operating Segments \| ANGI Homeservices
Segment Reporting Information [Line Items]
Capital expenditures	68,804	46,976	26,837
Operating Segments \| Vimeo
Segment Reporting Information [Line Items]
Capital expenditures	2,801	209	109
Operating Segments \| Dotdash
Segment Reporting Information [Line Items]
Capital expenditures		102	825
Operating Segments \| Search
Segment Reporting Information [Line Items]
Capital expenditures	43	479	251
Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Capital expenditures	387	751	291
Corporate
Segment Reporting Information [Line Items]
Capital expenditures	$ 25,863	$ 6,163	$ 17,840

LEASES - Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets:
Right-of-use assets, net	$ 138,608	$ 0
Liabilities:
Current lease liabilities	23,188
Long-term lease liabilities	168,321
Total lease liabilities	$ 191,509

LEASES - Lease Cost (Details)
$ in Thousands

12 Months Ended

Dec. 31, 2019

USD ($)

Lessee, Lease, Description [Line Items]

Operating lease cost

$ 30,413

Variable lease cost

7,776

Lease cost

38,189

Short-term lease cost

$ 2,200

Schedule of Restricted Cash


	December 31, 2019		December 31, 2018		December 31, 2017		December 31, 2016
	(In thousands)
Cash and cash equivalents	$	839,796	$	884,975	$	757,202	$	521,416
Restricted cash included in other current assets	527		1,441		2,737		204
Restricted cash included in other assets	409		420		—		10,548
Total cash and cash equivalents and restricted cash as shown on the combined statement of cash flows	$	840,732	$	886,836	$	759,939	$	532,168

Sublease income

$ 7,600

Cost of sales

Lessee, Lease, Description [Line Items]

Operating lease cost

547

Variable lease cost

Selling and marketing expense

Lessee, Lease, Description [Line Items]

Operating lease cost

10,613

Variable lease cost

1,573

General and administrative expense

Lessee, Lease, Description [Line Items]

Operating lease cost

17,751

Variable lease cost

5,729

Product development expense

Lessee, Lease, Description [Line Items]

Operating lease cost

1,502

Variable lease cost

$ 391

LEASES - Operating Lease Liabilities Maturities (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Leases [Abstract]
2020	$ 32,688
2021	30,200
2022	27,543
2023	25,838
2024	23,318
Thereafter	221,479
Total	361,066
Less: Interest	169,557
Present value of lease liabilities	191,509
Lease payments for leases signed but not yet commenced	$ 37,300

LEASES - Weighted-Average Remaining Term and Discount Rate (Details)	Dec. 31, 2019
Leases [Abstract]
Remaining lease term	17 years 4 months 24 days
Discount rate (as a percent)	6.12%

LEASES - Other Information (Details) $ in Thousands	12 Months Ended
LEASES - Other Information (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Leases [Abstract]
Right-of-use assets obtained in exchange for lease liabilities	$ 61,657
Cash paid for amounts included in the measurement of lease liabilities	$ 35,321

COMMITMENTS AND CONTINGENCIES - Commercial Commitments Outstanding (Details) - Purchase obligations $ in Thousands	Dec. 31, 2019 USD ($)
Other Commitments
Less Than 1 Year	$ 75,243
1-3 Years	41,423
3-5 Years	0
More Than 5 Years	0
Total Amounts Committed	$ 116,666

COMMITMENTS AND CONTINGENCIES - Narrative (Details)				12 Months Ended
COMMITMENTS AND CONTINGENCIES - Narrative (Details)	Jun. 13, 2019 plaintiff	Aug. 31, 2018 plaintiff	Aug. 14, 2018 USD ($) plaintiff	Dec. 31, 2019 USD ($) minimum_payment
Loss Contingencies [Line Items]
Loss contingency accrual				$ 0
Tinder Optionholder Litigation
Loss Contingencies [Line Items]
Number of plaintiffs \| plaintiff		6	10
Number of plaintiffs who filed a discontinuance of claims \| plaintiff	2	4
Tinder Optionholder Litigation \| Pending Litigation
Loss Contingencies [Line Items]
Damages sought			$ 2,000,000,000
Purchase Commitment - Three Year Cloud Computing
Loss Contingencies [Line Items]
Purchase obligations				150,000,000.0
Payments of commercial commitments				50,000,000.0
Prepaid asset				$ 8,700,000
Number of remaining minimum payments \| minimum_payment				2
Commercial commitments due in the next two years				$ 10,000,000.0
Purchase Commitment - Three Year Cloud Computing \| New IAC
Loss Contingencies [Line Items]
Purchase obligations				20,000,000.0
Purchase Commitment - Three Year Cloud Computing \| Match Group
Loss Contingencies [Line Items]
Purchase obligations				80,000,000.0
Purchase Commitment - Two Year Cloud Computing
Loss Contingencies [Line Items]
Commercial commitments due in the next two years				59,300,000
Commercial commitments due in the next twelve months				40,900,000
Commercial commitments due in 2021				18,300,000
Purchase Commitments - Advertising
Loss Contingencies [Line Items]
Commercial commitments due in the next twelve months				23,800,000
Purchase obligations
Loss Contingencies [Line Items]
Purchase obligations				116,666,000
Commercial commitments due in the next twelve months				75,243,000
Remaining payment due in 2021				$ 41,423,000
Expedia \| Corporate Aircraft Purchase
Loss Contingencies [Line Items]
Percentage of total purchase price and refurbish costs paid in related party transaction				50.00%
Expedia \| Corporate Aircraft Purchase \| Purchase obligations
Loss Contingencies [Line Items]
Remaining payment due in 2021				$ 13,100,000

RELATED PARTY TRANSACTIONS - Narrative (Details) shares in Millions		3 Months Ended		12 Months Ended
	Oct. 10, 2018 shares	Dec. 31, 2017 USD ($)	Jun. 30, 2017 USD ($)	Dec. 31, 2019 USD ($) aircraft shares	Dec. 31, 2018 USD ($) shares	Dec. 31, 2017 USD ($) shares	Aug. 23, 2019 USD ($)	Dec. 14, 2018 USD ($)	Sep. 29, 2017 USD ($) intercompany_note	Dec. 21, 2012 USD ($)
Related Party Transaction [Line Items]
Current notes receivable due from related party				$ 55,251,000	$ 0
IAC
Related Party Transaction [Line Items]
Allocated costs from related party				146,000,000.0	178,200,000	$ 126,700,000
Interest income, net—related party				400,000	300,000	23,700,000
Notes receivable from related parties				$ 55,300,000
Interest rate on notes receivable from related parties (as a percent)				1.59%
Outstanding payables due					2,500,000			$ 15,000,000.0
Expenses from transactions with related party				$ 80,143,000	$ 71,977,000	$ 62,180,000
Other Affiliates
Related Party Transaction [Line Items]
Proportion of ownership interest held each by entity and by related party in aircraft employing flight crew (as a percent)				50.00%
Number of aircraft operated \| aircraft				2
Payments to acquire corporate aircraft			$ 17,400,000
Percentage of total purchase price and refurbish costs paid in related party transaction			50.00%
Proportion of ownership interest held each by entity and by related party in another entity employing flight crew (as a percent)				50.00%
ANGI Homeservices \| Intercompany Notes
Related Party Transaction [Line Items]
Number of related party debt instruments \| intercompany_note									2
ANGI Homeservices \| Payoff Intercompany Note
Related Party Transaction [Line Items]
Current notes receivable due from related party									$ 61,500,000
ANGI Homeservices \| Working Capital Intercompany Note
Related Party Transaction [Line Items]
Current notes receivable due from related party									$ 15,000,000
ANGI Homeservices \| Employee Matters Agreement
Related Party Transaction [Line Items]
Stock received during period from Related Party Employee Matters Agreement (shares) \| shares				0.5	0.9	0.4
ANGI Homeservices \| Services Agreement
Related Party Transaction [Line Items]
Outstanding payables due					$ 100,000
Revenue from related parties		$ 1,700,000		$ 4,800,000	5,700,000
Due from (to) related party				0
ANGI Homeservices \| Sublease Agreement
Related Party Transaction [Line Items]
Outstanding payables due				900,000
Related party costs				$ 5,800,000	$ 5,200,000	$ 5,100,000
Expedia \| Corporate Aircraft Purchase
Related Party Transaction [Line Items]
Percentage of total purchase price and refurbish costs paid in related party transaction				50.00%
Expected costs from transactions with related party				$ 72,300,000
Expenses from transactions with related party				$ 23,000,000
4.875% Senior Notes due November 30, 2018 \| Senior Notes
Related Party Transaction [Line Items]
Face amount of debt instrument										$ 500,000,000.0
Stated interest rate (as a percent)										4.875%
Debt outstanding							$ 361,900,000
4.75% Senior Notes due December 15, 2022 \| Senior Notes
Related Party Transaction [Line Items]
Face amount of debt instrument										$ 500,000,000.0
Stated interest rate (as a percent)										4.75%
Debt outstanding							$ 34,500,000
Class B Convertible Common Stock \| ANGI Homeservices \| Angie's List Transaction Agreement
Related Party Transaction [Line Items]
Stock received from related party (shares) \| shares	5.1

RELATED PARTY TRANSACTIONS - Components of Net Increase (Decrease) in IAC Investment in IAC Holdings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Taxes	$ 60,489	$ (13,200)	$ 155,402
IAC
Related Party Transaction [Line Items]
Cash transfers (from) to Old IAC related to its centrally managed U.S. treasury function, acquisitions and cash expenses paid by Old IAC on behalf of IAC Holdings, Inc., net	(182,382)	215,993	(21,058)
Taxes	(1,874)	1,120	44,798
Interest income, net	420	325	23,656
Allocation of costs from Old IAC	(80,143)	(71,977)	(62,180)
Net (increase) decrease in Old IAC's investment in IAC Holdings, Inc.	$ (263,979)	$ 145,461	$ (14,784)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Retirement Benefits [Abstract]
Employee contribution limit per calendar year (up to) (as a percent of pre-tax earnings)			50.00%
Employer contribution limit per calendar year (as a percent of compensation)	10.00%	3.00%
Employer contribution per dollar employee contributes up to contribution limit	100.00%
United States
Defined Contribution Plan Disclosure
Defined contribution plan contributions			$ 15.4	$ 10.2	$ 8.8
All Other Countries
Defined Contribution Plan Disclosure
Defined contribution plan contributions			$ 1.0	$ 0.6	$ 0.3

COMBINED FINANCIAL STATEMENT DETAILS - Narrative (Details) - USD ($) shares in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Oct. 19, 2018	Sep. 29, 2017
Additional consolidated financial statement details
Unrealized gains, net, on equity securities held			$ 18,505,000	$ 126,063,000
Net gain (loss) on equity securities without readily determinable fair value			19,700,000
Fair value of contingent consideration at date of acquisition			0	25,500,000
Other Income (Expense)
Additional consolidated financial statement details
Interest income, net—related party			14,700,000	8,800,000	$ 4,000,000.0
Net gain (loss) on equity securities without readily determinable fair value			18,500,000
Mark-to-market charge pertaining to subsidiary denominated equity instrument			1,800,000
Foreign currency exchange gain (loss)					(6,600,000)
Gain on sale of long-term investments				26,800,000	25,800,000
Dictionary.com, Electus, Felix, and CityGrid \| Other Income (Expense)
Additional consolidated financial statement details
Gain on sale of business				120,600,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Dictionary.com, Electus, Felix, and CityGrid
Additional consolidated financial statement details
Gain on sale of business		$ 91,400,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Dictionary.com, Electus, Felix, and CityGrid \| Other Income (Expense)
Additional consolidated financial statement details
Gain on sale of business	$ (8,200,000)
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Pinterest \| Other Income (Expense)
Additional consolidated financial statement details
Gain on sale of business			(20,500,000)
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| ASKfm \| Other Income (Expense)
Additional consolidated financial statement details
Gain on other-than-temporary impairment charges					$ (9,900,000)
Pinterest \| Other Income (Expense)
Additional consolidated financial statement details
Unrealized gains, net, on equity securities held				$ 128,800,000
Unrealized reduction in estimated fair value of warrants			$ 9,100,000
Common Stock \| ANGI Homeservices
Additional consolidated financial statement details
Common stock issued (shares)						8.6	61.3
Common stock						$ 165,800,000	$ 763,700,000

COMBINED FINANCIAL STATEMENT DETAILS - Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018
Other current assets:
Capitalized costs to obtain a contract with a customer	$ 43,069	$ 40,601	$ 30,900
Prepaid expenses	41,934	36,636
Capitalized downloadable search toolbar costs, net	21,985	33,365
Other	45,346	56,857
Other current assets	$ 152,334	$ 167,459

COMBINED FINANCIAL STATEMENT DETAILS - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property and equipment, net:
Property and equipment, gross	$ 507,212	$ 434,222
Accumulated depreciation and amortization	(201,798)	(173,774)
Property and equipment, net	305,414	260,448
Buildings and leasehold improvements
Property and equipment, net:
Property and equipment, gross	242,882	224,497
Capitalized software and computer equipment
Property and equipment, net:
Property and equipment, gross	124,523	93,000
Furniture and other equipment
Property and equipment, net:
Property and equipment, gross	84,640	79,299
Land
Property and equipment, net:
Property and equipment, gross	11,591	11,591
Projects in progress
Property and equipment, net:
Property and equipment, gross	$ 43,576	$ 25,835

COMBINED FINANCIAL STATEMENT DETAILS - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accrued expenses and other current liabilities:
Accrued employee compensation and benefits	$ 105,960	$ 99,205
Accrued advertising expense	59,269	64,626
Accrued revenue share	30,574	28,284
Other	124,670	107,450
Accrued expenses and other current liabilities	$ 320,473	$ 299,565

COMBINED FINANCIAL STATEMENT DETAILS - Other Income (Expense), Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other income (expense), net:
Other income, net	$ 33,627	$ 282,470	$ 12,363

COMBINED FINANCIAL STATEMENT DETAILS - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 839,796	$ 884,975	$ 757,202	$ 521,416
Restricted cash included in other current assets	527	1,441	2,737	204
Restricted cash included in other assets	409	420	0	10,548
Total cash and cash equivalents and restricted cash as shown on the consolidated statement of cash flows	$ 840,732	$ 886,836	$ 759,939	$ 532,168

COMBINED FINANCIAL STATEMENT DETAILS - Supplemental Disclosure of Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash paid (received) during the year for:
Interest	$ 10,042	$ 13,108	$ 8
Income tax payments	4,861	4,084	6,508
Income tax refunds	$ (3,048)	$ (30,320)	$ (11,618)

QUARTERLY RESULTS (UNAUDITED) - Summary (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Data [Abstract]
Revenue	$ 670,514	$ 705,382	$ 688,685	$ 641,220	$ 646,762	$ 660,649	$ 637,928	$ 587,709	$ 2,705,801	$ 2,533,048	$ 1,952,607
Cost of revenue	152,506	158,161	149,725	139,848	142,514	129,727	120,890	108,021	600,240	501,152	362,627
Operating (loss) income	(16,408)	13,912	(13,770)	(34,183)	(11,465)	39,177	24,479	(16,356)	(50,449)	35,835	(164,632)
Net (loss) earnings	5,457	18,378	22,021	(13,673)	94,728	38,163	164,482	(5,002)	32,183	292,371	24,608
Net (loss) earnings attributable to Old IAC equity in IAC Holdings, Inc.	6,887	16,466	13,789	(14,247)	89,294	34,601	125,686	(2,809)	22,895	246,772	37,006
Stock-based compensation expense									$ 134,338	$ 148,405	$ 192,005
Write-off due to deferred revenue							1,800	2,800
Gain (loss) on sale of equity investments							131,500
Impairment of intangible assets					20,800
Dictionary.com, Electus, Felix, and CityGrid \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Quarterly Financial Data [Abstract]
Gain on sale of business					91,400
HomeAdvisor
Quarterly Financial Data [Abstract]
Stock-based compensation expense	$ 1,700	$ 1,700	$ 1,900	$ 2,200	$ 14,500	$ 12,300	12,900	14,700
Angie's List
Quarterly Financial Data [Abstract]
After-tax costs							$ 2,000	$ 4,100

SUBSEQUENT EVENTS - Narrative (Details) - USD ($) shares in Millions				3 Months Ended		12 Months Ended
	Jul. 01, 2020	Jun. 09, 2020	Feb. 11, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Aug. 20, 2020	Aug. 07, 2020
Subsequent Event [Line Items]
Goodwill impairment						$ 3,318,000	$ 0	$ 0
Subsequent Event
Subsequent Event [Line Items]
Impairment of equity securities without readily determinable fair value					$ 51,500,000
Write-off of note receivable					7,500,000
Impairment charges				$ 0
Subsequent Event \| MGM Resorts International
Subsequent Event [Line Items]
Stock owned of equity method investment (shares)										59.0
Equity method investment aggregate cost										$ 1,000,000,000
Ownership interest in equity method investment (as a percent)										12.00%
Subsequent Event \| Desktop \| Applications
Subsequent Event [Line Items]
Goodwill impairment					212,000,000.0
Impairment charges on indefinite-lived intangible assets					$ 21,400,000
Subsequent Event \| Senior Notes \| 3.875% Senior Notes due August 15, 2028
Subsequent Event [Line Items]
Face amount of debt instrument									$ 500,000,000
Stated interest rate (as a percent)									3.875%
Subsequent Event \| Class M common stock
Subsequent Event [Line Items]
Stock issued during period (shares)		17.0
Value of stock issued during period	$ 1,400,000,000	$ 1,400,000,000
Subsequent Event \| Care.com
Subsequent Event [Line Items]
Total purchase price			$ 500,000,000

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance for doubtful accounts and revenue reserves
Movement in Valuation Allowances and Reserves
Balance at beginning of period	$ 18,136	$ 10,710	$ 15,474
Charges to Earnings	65,723	48,362	28,460
Charges to Other Accounts	247	(557)	(723)
Deductions	(59,958)	(40,379)	(32,501)
Balance at end of period	24,148	18,136	10,710
Deferred tax valuation allowance
Movement in Valuation Allowances and Reserves
Balance at beginning of period	86,778	91,040	55,680
Charges to Earnings	7,813	(2,056)	29,721
Charges to Other Accounts	(1,601)	(2,206)	5,639
Deductions	0	0	0
Balance at end of period	92,990	86,778	91,040
Other reserves
Movement in Valuation Allowances and Reserves
Balance at beginning of period	4,726	0
Balance at end of period	$ 5,060	$ 4,726	$ 0