0001800227-20-000022 | 10-Q | XBRL Viewer

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Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2020	Oct. 30, 2020
Document Information [Line Items]
Entity Central Index Key	0001800227
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-39356
Entity Registrant Name	IAC/INTERACTIVECORP
Entity Incorporation, State or Country Code	DE
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
Title of 12(b) Security	Common stock, par value $0.001
Trading Symbol	IAC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		79,549,631
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		5,789,499

CONSOLIDATED AND COMBINED BALANCE SHEET (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 3,471,713	$ 839,796
Marketable debt securities	349,953	0
Accounts receivable, net of allowance and reserves	227,316	181,875
Note receivable—related party	0	55,251
Other current assets	156,489	152,334
Total current assets	4,205,471	1,229,256
Building, capitalized software, leasehold improvements and equipment, net	265,818	305,414
Goodwill	1,767,834	1,616,867
Intangible assets, net of accumulated amortization	394,415	350,150
Long-term investments	1,580,478	347,975
Other non-current assets	266,198	247,746
TOTAL ASSETS	8,480,214	4,097,408
LIABILITIES:
Current portion of long-term debt	13,750	13,750
Accounts payable, trade	96,062	72,452
Deferred revenue	268,225	178,647
Accrued expenses and other current liabilities	402,198	320,473
Total current liabilities	780,235	585,322
Long-term debt, net	715,408	231,946
Income taxes payable	6,207	6,410
Deferred income taxes	25,970	44,459
Other long-term liabilities	192,313	180,307
Redeemable noncontrolling interests	44,164	43,818
Commitments and contingencies
SHAREHOLDERS' EQUITY:
Additional paid-in-capital	6,021,045	0
Retained earnings	184,917	0
Invested capital	0	2,547,251
Accumulated other comprehensive loss	(11,818)	(12,226)
Total IAC shareholders' equity and invested capital, respectively	6,194,230	2,535,025
Noncontrolling interests	521,687	470,121
Total shareholders' equity	6,715,917	3,005,146
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	8,480,214	4,097,408
Common stock, $0.001 par value; authorized 1,600,000 shares; 79,549 shares issued and outstanding at September 30, 2020
SHAREHOLDERS' EQUITY:
Common stock	80	0
Class B common stock, $0.001 par value; authorized 400,000 shares; 5,789 shares issued and outstanding at September 30, 2020
SHAREHOLDERS' EQUITY:
Common stock	$ 6	$ 0

CONSOLIDATED AND COMBINED BALANCE SHEET (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Accounts Receivable, Allowance for Credit Loss, Current and Revenue Reserve	$ 34,958	$ 24,148
Common stock, $0.001 par value; authorized 1,600,000 shares; 79,549 shares issued and outstanding at September 30, 2020
Common stock, par value (USD per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized	1,600,000,000	1,600,000,000
Common Stock, Shares, Issued	79,549,000
Common Stock, Shares, Outstanding	79,549,000
Class B common stock, $0.001 par value; authorized 400,000 shares; 5,789 shares issued and outstanding at September 30, 2020
Common stock, par value (USD per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized	400,000,000	400,000,000
Common Stock, Shares, Issued	5,789,000
Common Stock, Shares, Outstanding	5,789,000

CONSOLIDATED AND COMBINED STATEMENT OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue	$ 788,377	$ 705,382	$ 2,198,862	$ 2,035,287
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	207,643	158,161	565,609	447,734
Selling and marketing expense	340,524	310,301	957,557	929,712
General and administrative expense	168,889	135,463	583,355	448,377
Product development expense	67,870	49,991	192,116	140,351
Depreciation	18,753	15,009	50,849	39,042
Amortization of intangibles	60,151	22,545	132,213	64,112
Goodwill impairment	53,173	0	265,146	0
Total operating costs and expenses	917,003	691,470	2,746,845	2,069,328
Operating (loss) income	(128,626)	13,912	(547,983)	(34,041)
Interest expense	(5,807)	(2,898)	(9,579)	(9,402)
Other income (expense), net	290,786	(11,715)	211,769	16,850
Earnings (loss) before income taxes	156,353	(701)	(345,793)	(26,593)
Income tax benefit	29,508	19,079	107,019	53,319
Net earnings (loss)	185,861	18,378	(238,774)	26,726
Net earnings attributable to noncontrolling interests	(944)	(1,912)	(625)	(10,718)
Net earnings (loss) attributable to IAC shareholders	$ 184,917	$ 16,466	$ (239,399)	$ 16,008
Per share information attributable to IAC shareholders:
Basic (loss) earnings per share (USD per share)	$ 2.17	$ 0.19	$ (2.81)	$ 0.19
Diluted (loss) earnings per share (USD per share)	$ 2.04	$ 0.19	$ (2.81)	$ 0.19
Stock-based compensation expense by function:
Stock-based compensation expense	$ 31,719	$ 24,585	$ 148,597	$ 94,867
Cost of revenue
Stock-based compensation expense by function:
Stock-based compensation expense	34	16	162	59
Selling and marketing expense
Stock-based compensation expense by function:
Stock-based compensation expense	2,677	1,139	5,083	3,890
General and administrative expense
Stock-based compensation expense by function:
Stock-based compensation expense	25,930	21,365	136,198	83,688
Product development expense
Stock-based compensation expense by function:
Stock-based compensation expense	$ 3,078	$ 2,065	$ 7,154	$ 7,230

CONSOLIDATED AND COMBINED STATEMENT OF COMPREHENSIVE OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 185,861	$ 18,378	$ (238,774)	$ 26,726
Other comprehensive income (loss), net of income taxes:
Change in foreign currency translation adjustment	3,513	(3,334)	1,049	(3,192)
Change in unrealized gains and losses on available-for-sale marketable debt securities	4	0	3	(3)
Total other comprehensive income (loss), net of income taxes	3,517	(3,334)	1,052	(3,195)
Comprehensive income (loss), net of income taxes	189,378	15,044	(237,722)	23,531
Components of comprehensive (income) loss attributable to noncontrolling interests:
Net earnings attributable to noncontrolling interests	(944)	(1,912)	(625)	(10,718)
Change in foreign currency translation adjustment attributable to noncontrolling interests	(1,565)	835	(608)	969
Change in unrealized gains and losses of available-for-sale marketable debt securities attributable to noncontrolling interests	0	0	0	1
Comprehensive income attributable to noncontrolling interests	(2,509)	(1,077)	(1,233)	(9,748)
Comprehensive income (loss) attributable to IAC shareholders	$ 186,869	$ 13,967	$ (238,955)	$ 13,783

CONSOLIDATED AND COMBINED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	ANGI Homeservices	Old IAC	Redeemable Noncontrolling Interests	Total IAC Shareholders' Equity and Invested Capital	Total IAC Shareholders' Equity and Invested Capital ANGI Homeservices	Total IAC Shareholders' Equity and Invested Capital Old IAC	Common Stock Common Stock, $0.001 par value	Common Stock Class B Common Stock, $0.001 par value	Additional Paid-in-Capital	Additional Paid-in-Capital ANGI Homeservices	Additional Paid-in-Capital Old IAC	Retained Earnings	Invested Capital	Invested Capital ANGI Homeservices	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss ANGI Homeservices	Noncontrolling Interests	Noncontrolling Interests ANGI Homeservices
Balance at beginning of period at Dec. 31, 2018				$ 65,687
Increase (Decrease) in Redeemable Noncontrolling Interests
Net (loss) earnings				4,735
Stock-based compensation expense				113
Purchase of redeemable noncontrolling interests				(6,192)
Adjustment of redeemable noncontrolling interests to fair value				8,607
Other				(33)
Balance at end of period at Sep. 30, 2019				76,370
Balance at beginning of period at Dec. 31, 2018	$ 2,684,400													$ 2,296,583		$ (12,541)		$ 400,358
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	21,991													16,008				5,983
Stock-based compensation expense	94,620													49,147				45,473
Purchase of ANGI Homeservices treasury stock		$ (34,157)													$ (34,157)
Net increase in Old IAC's investment in the Company prior to the Separation	224,560													224,560
Balance at end of period at Sep. 30, 2019	2,950,561													2,511,112		(14,776)		454,225
Balance at beginning of period at Jun. 30, 2019				79,467
Increase (Decrease) in Redeemable Noncontrolling Interests
Net (loss) earnings				(1,167)
Stock-based compensation expense				36
Purchase of redeemable noncontrolling interests				(71)
Adjustment of redeemable noncontrolling interests to fair value				(1,531)
Other				1
Balance at end of period at Sep. 30, 2019				76,370
Balance at beginning of period at Jun. 30, 2019	2,687,025													2,247,792		(12,258)		451,491
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	19,545													16,466				3,079
Stock-based compensation expense	24,415													15,667				8,748
Purchase of ANGI Homeservices treasury stock		(34,157)													(34,157)
Net increase in Old IAC's investment in the Company prior to the Separation	258,498													258,498
Balance at end of period at Sep. 30, 2019	2,950,561													2,511,112		(14,776)		454,225
Balance at beginning of period at Dec. 31, 2019	43,818			43,818
Increase (Decrease) in Redeemable Noncontrolling Interests
Net (loss) earnings				(1,235)
Other comprehensive loss				233
Stock-based compensation expense				15
Purchase of redeemable noncontrolling interests				(3,165)
Adjustment of redeemable noncontrolling interests to fair value				4,564
Other				(66)
Balance at end of period at Sep. 30, 2020	44,164			44,164
Balance at beginning of period at Dec. 31, 2019	3,005,146				$ 2,535,025			$ 0	$ 0	$ 0			$ 0	2,547,251		(12,226)		470,121
Balance at beginning of period (shares) at Dec. 31, 2019								0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	(237,539)				(239,399)								184,917	(424,316)				1,860
Other comprehensive loss	819				444											444		375
Stock-based compensation expense	148,420				93,756					20,865				72,891				54,664
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(22,653)	(50,032)			(22,653)	$ (45,124)		$ 1		(22,654)	$ (46,336)				1,248		$ (36)		$ (4,908)
Issuance of common stock pursuant to stock-based awards, net of witholding taxes (shares)								206
Adjustment of redeemable noncontrolling interests to fair value	(4,564)				(4,564)					243				(4,807)
Purchase of noncontrolling interests	(1,115)																	(1,115)
Issuance of ANGI Homeservices common stock pursuant to stock-based awards, net of withholding taxes	(22,653)	(50,032)			(22,653)	(45,124)		$ 1		(22,654)	(46,336)				1,248		(36)		(4,908)
Purchase of ANGI Homeservices treasury stock		(54,859)				(54,859)									(54,859)
Proceeds from the sale of Old IAC Class M common stock			$ 1,408,298				$ 1,408,298					$ 1,408,298
Net increase in Old IAC's investment in the Company prior to the Separation	1,685,995				1,685,995									1,685,995
Cash merger consideration paid by Old IAC in connection with the Separation	837,913				837,913									837,913
Capitalization as a result of the Separation								$ 79	$ 6	4,661,231				(4,661,316)
Capitalization as a result of the Separation (shares)								79,343	5,789
Other	88				(602)					(602)								690
Balance at end of period at Sep. 30, 2020	6,715,917				6,194,230			$ 80	$ 6	6,021,045			184,917	0		(11,818)		521,687
Balance at end of period (shares) at Sep. 30, 2020								79,549	5,789
Balance at beginning of period at Jun. 30, 2020				43,583
Increase (Decrease) in Redeemable Noncontrolling Interests
Net (loss) earnings				(30)
Other comprehensive loss				920
Stock-based compensation expense				0
Adjustment of redeemable noncontrolling interests to fair value				(243)
Other				(66)
Balance at end of period at Sep. 30, 2020	44,164			$ 44,164
Balance at beginning of period at Jun. 30, 2020	5,146,327				4,647,535			$ 79	$ 6	4,661,231			0	0		(13,781)		498,792
Balance at beginning of period (shares) at Jun. 30, 2020								79,343	5,789
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	185,891				184,917								184,917	0				974
Other comprehensive loss	2,597				1,952											1,952		645
Stock-based compensation expense	34,711				20,865					20,865				0				13,846
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(22,653)	(38,470)			(22,653)	(46,325)		$ 1		(22,654)	(46,336)				0		11		7,855
Issuance of common stock pursuant to stock-based awards, net of witholding taxes (shares)								206
Adjustment of redeemable noncontrolling interests to fair value	243				243					243				0
Purchase of noncontrolling interests	(1,115)																	(1,115)
Issuance of ANGI Homeservices common stock pursuant to stock-based awards, net of withholding taxes	(22,653)	$ (38,470)			(22,653)	$ (46,325)		$ 1		(22,654)	$ (46,336)				$ 0		$ 11		$ 7,855
Proceeds from the sale of Old IAC Class M common stock			$ 1,408,298				$ 1,408,298					$ 1,408,298
Other	88				(602)					(602)								690
Balance at end of period at Sep. 30, 2020	$ 6,715,917				$ 6,194,230			$ 80	$ 6	$ 6,021,045			$ 184,917	$ 0		$ (11,818)		$ 521,687
Balance at end of period (shares) at Sep. 30, 2020								79,549	5,789

COMBINED STATEMENT OF PARENT'S EQUITY (Unaudited) - USD ($) $ in Thousands	Total	ANGI Homeservices	Redeemable Noncontrolling Interests	Total Old IAC Equity in IAC/InterActiveCorp	Total Old IAC Equity in IAC/InterActiveCorp ANGI Homeservices	Invested Capital	Invested Capital ANGI Homeservices	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Balance at beginning of period at Dec. 31, 2018			$ 65,687
Increase (Decrease) in Redeemable Noncontrolling Interests
Net (loss) earnings			4,735
Other comprehensive loss			(514)
Stock-based compensation expense			113
Purchase of redeemable noncontrolling interests			(6,192)
Adjustment of redeemable noncontrolling interests to fair value			8,607
Noncontrolling interests created in acquisitions			3,967
Other			(33)
Balance at end of period at Sep. 30, 2019			76,370
Balance at beginning of period at Dec. 31, 2018	$ 2,684,400			$ 2,284,042		$ 2,296,583		$ (12,541)	$ 400,358
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	21,991			16,008		16,008			5,983
Other comprehensive loss	(2,681)			(2,225)				(2,225)	(456)
Stock-based compensation expense	94,620			49,147		49,147			45,473
Adjustment of redeemable noncontrolling interests to fair value	(8,607)			(8,607)		(8,607)
Issuance of ANGI Homeservices common stock pursuant to stock-based awards, net of withholding taxes	(29,565)			(32,432)		(32,422)		(10)	2,867
Purchase of ANGI Homeservices treasury stock		$ (34,157)			$ (34,157)		$ (34,157)
Net increase in Old IAC's investment in the Company prior to the Separation	224,560			224,560		224,560
Balance at end of period at Sep. 30, 2019	2,950,561			2,496,336		2,511,112		(14,776)	454,225
Balance at beginning of period at Jun. 30, 2019			79,467
Increase (Decrease) in Redeemable Noncontrolling Interests
Net (loss) earnings			(1,167)
Other comprehensive loss			(365)
Stock-based compensation expense			36
Purchase of redeemable noncontrolling interests			(71)
Adjustment of redeemable noncontrolling interests to fair value			(1,531)
Other			1
Balance at end of period at Sep. 30, 2019			76,370
Balance at beginning of period at Jun. 30, 2019	2,687,025			2,235,534		2,247,792		(12,258)	451,491
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	19,545			16,466		16,466			3,079
Other comprehensive loss	(2,969)			(2,499)				(2,499)	(470)
Stock-based compensation expense	24,415			15,667		15,667			8,748
Adjustment of redeemable noncontrolling interests to fair value	1,531			1,531		1,531
Issuance of ANGI Homeservices common stock pursuant to stock-based awards, net of withholding taxes	(3,327)			5,296		5,315		(19)	(8,623)
Purchase of ANGI Homeservices treasury stock		(34,157)			$ (34,157)		(34,157)
Net increase in Old IAC's investment in the Company prior to the Separation	258,498			258,498		258,498
Balance at end of period at Sep. 30, 2019	2,950,561			$ 2,496,336		2,511,112		(14,776)	454,225
Balance at beginning of period at Dec. 31, 2019	43,818		43,818
Increase (Decrease) in Redeemable Noncontrolling Interests
Net (loss) earnings			(1,235)
Stock-based compensation expense			15
Purchase of redeemable noncontrolling interests			(3,165)
Adjustment of redeemable noncontrolling interests to fair value			4,564
Other			(66)
Balance at end of period at Sep. 30, 2020	44,164		44,164
Balance at beginning of period at Dec. 31, 2019	3,005,146					2,547,251		(12,226)	470,121
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	(237,539)					(424,316)			1,860
Stock-based compensation expense	148,420					72,891			54,664
Purchase of ANGI Homeservices treasury stock		$ (54,859)					$ (54,859)
Net increase in Old IAC's investment in the Company prior to the Separation	1,685,995					1,685,995
Balance at end of period at Sep. 30, 2020	6,715,917					0		(11,818)	521,687
Balance at beginning of period at Jun. 30, 2020			43,583
Increase (Decrease) in Redeemable Noncontrolling Interests
Net (loss) earnings			(30)
Stock-based compensation expense			0
Adjustment of redeemable noncontrolling interests to fair value			(243)
Other			(66)
Balance at end of period at Sep. 30, 2020	44,164		$ 44,164
Balance at beginning of period at Jun. 30, 2020	5,146,327					0		(13,781)	498,792
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) earnings	185,891					0			974
Stock-based compensation expense	34,711					0			13,846
Balance at end of period at Sep. 30, 2020	$ 6,715,917					$ 0		$ (11,818)	$ 521,687

CONSOLIDATED AND COMBINED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net (loss) earnings	$ (238,774)	$ 26,726
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:
Stock-based compensation expense	148,597	94,867
Amortization of intangibles	132,213	64,112
Depreciation	50,849	39,042
Provision for credit losses	62,594	50,461
Goodwill impairment	265,146	0
Deferred income taxes	(82,948)	(56,726)
Gains on equity securities, net	(215,882)	(26,120)
Other adjustments, net	18,953	14,166
Changes in assets and liabilities, net of effects of acquisitions and dispositions:
Accounts receivable	(91,515)	(64,935)
Other assets	(5,672)	11,365
Accounts payable and other liabilities	50,019	4,873
Income taxes payable and receivable	(3,490)	3,056
Deferred revenue	77,957	30,465
Net cash provided by operating activities	168,047	191,352
Cash flows from investing activities:
Acquisitions, net of cash acquired	(529,174)	(196,578)
Capital expenditures	(41,651)	(73,575)
Proceeds from maturities of marketable debt securities	125,000	25,000
Purchases of marketable debt securities	(424,875)	0
Net proceeds from the sale of businesses and investments	17,860	24,461
Purchases of investments	(1,019,608)	(250,096)
Decrease (increase) in notes receivable—related party	54,828
Decrease (increase) in notes receivable—related party		(55,827)
Other, net	(10,678)	(2,608)
Net cash used in investing activities	(1,828,298)	(529,223)
Cash flows from financing activities:
Proceeds from the issuance of ANGI Group Senior Notes	500,000	0
Principal payments on ANGI Group Term Loan	(10,313)	(10,313)
Principal payments on related-party debt	0	(2,500)
Debt issuance costs	(5,635)	0
Purchase of ANGI Homeservices treasury stock	(54,400)	(33,979)
Purchase of noncontrolling interests	(4,280)	(6,192)
Cash merger consideration paid by Old IAC in connection with the Separation	837,913	0
Transfers from Old IAC for periods prior to the Separation	1,706,479	225,461
Proceeds from the sale of Old IAC Class M common stock	1,408,298	0
Other, net	784	(3,774)
Net cash provided by financing activities	4,304,883	139,237
Total cash provided (used)	2,644,632	(198,634)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(511)	(388)
Net increase (decrease) in cash and cash equivalents and restricted cash	2,644,121	(199,022)
Cash and cash equivalents and restricted cash at beginning of period	840,732	886,836
Cash and cash equivalents and restricted cash at end of period	3,484,853	687,814
IAC
Cash flows from financing activities:
Withholding taxes paid on behalf of IAC employees on net settled stock-based awards	(23,970)	0
Withholding taxes paid on behalf of ANGI Homeservices employees on net settled stock-based awards	(23,970)	0
ANGI Homeservices
Cash flows from financing activities:
Proceeds from the exercise of ANGI Homeservices stock options	0	573
Withholding taxes paid on behalf of IAC employees on net settled stock-based awards	(49,993)	(30,039)
Withholding taxes paid on behalf of ANGI Homeservices employees on net settled stock-based awards	$ (49,993)	$ (30,039)

CONSOLIDATED AND COMBINED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Common Stock
Common stock, par value (USD per share)	$ 0.001	$ 0.001
Class B Common Stock
Common stock, par value (USD per share)	$ 0.001	$ 0.001

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Separation

On December 19, 2019, IAC/InterActiveCorp ("Old IAC") entered into a Transaction Agreement (as amended as of April 28, 2020 and June 22, 2020, the "Transaction Agreement") with Match Group, Inc. ("Old MTCH"), IAC Holdings, Inc. ("New IAC" or the "Company"), a direct wholly owned subsidiary of Old IAC, and Valentine Merger Sub LLC, an indirect wholly owned subsidiary of Old IAC. On June 30, 2020, the businesses of Old MTCH were separated from the remaining businesses of Old IAC through a series of transactions that resulted in the pre-transaction stockholders of Old IAC owning shares in two, separate public companies—(1) Old IAC, which was renamed Match Group, Inc. ("New Match") and which owns the businesses of Old MTCH and certain Old IAC financing subsidiaries, and (2) New IAC, which was renamed IAC/InterActiveCorp, and which owns Old IAC's other businesses—and the pre-transaction stockholders of Old MTCH (other than Old IAC) owning shares in New Match. This transaction is referred to as the "Separation".

Nature of Operations

The Company operates Vimeo, Dotdash and Care.com, among many other online businesses, and has majority ownership of ANGI Homeservices, which includes HomeAdvisor, Angie’s List and Handy.

Basis of Presentation

As used herein, ‘‘IAC,’’ the ‘‘Company,’’ ‘‘we,’’ ‘‘our’’ or ‘‘us’’ and similar terms refer to IAC/InterActiveCorp and the businesses comprising IAC (unless the context requires otherwise).

The Company prepares its consolidated and combined financial statements (collectively referred to herein as "financial statements") in accordance with U.S. generally accepted accounting principles (‘‘GAAP’’).

The Company's financial statements were prepared on a consolidated basis beginning June 30, 2020 and on a combined basis for periods prior thereto. The difference in presentation is due to the fact that the final steps of the legal reorganization, including the contribution of all the entities that comprise the Company following the Separation, were not completed until June 30, 2020. The preparation of the financial statements on a combined basis for periods prior to June 30, 2020 allows for the financial statements to be presented on a consistent basis for all periods presented.

The historical combined financial statements of the Company have been 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 entities comprising the Company since their respective dates of acquisition by Old IAC and the allocation to the Company of certain Old IAC corporate expenses based on the historical financial statements and accounting records of Old IAC through June 30, 2020. The consolidated financial statements include the accounts of the Company, all entities that are wholly-owned by the Company and all entities in which the Company has a controlling financial interest. For the purpose of the combined financial statements, income taxes have been computed as if the entities comprising the Company filed tax returns on a standalone, separate basis for periods prior to the Separation.

All intercompany transactions and balances between and among the Company and its subsidiaries have been eliminated. All intercompany transactions between (i) the Company and (ii) Old IAC and its subsidiaries for periods prior to the Separation 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 statement of cash flows as a financing activity and in the balance sheet as ‘‘Invested capital.’’

In management’s opinion, the assumptions underlying the historical financial statements of the Company, 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.

The accompanying unaudited financial statements have been prepared in accordance with GAAP for interim financial information and with the rules and regulations of the Securities and Exchange Commission ("SEC"). Accordingly, they do not

include all of the information and notes required by GAAP for complete annual financial statements. In the opinion of management, the accompanying unaudited financial statements include all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation. Interim results are not necessarily indicative of the results that may be expected for the full year. The accompanying unaudited interim financial statements should be read in conjunction with the annual audited financial statements of the Company and notes thereto for the year ended December 31, 2019 filed on the Current Report on Form 8-K with the SEC on October 5, 2020.

COVID-19 Update and Impairments

The impact on the Company from the COVID-19 outbreak, which has been declared a "pandemic" by the World Health Organization, has been varied. The extent to which developments related to the COVID-19 outbreak and measures designed to curb its spread continue to impact the Company’s business, financial condition and results of operations will depend on future developments, all of which are highly uncertain and many of which are beyond the Company’s control, including the speed of contagion, the development and implementation of effective preventative measures and possible treatments, the scope of governmental and other restrictions on travel, discretionary services and other activity, and public reactions to these developments. For example, these developments and measures have resulted in rapid and adverse changes to the operating environment in which we do business, as well as significant uncertainty concerning the near and long term economic ramifications of the COVID-19 outbreak, which have adversely impacted our ability to forecast our results and respond in a timely and effective manner to trends related to the COVID-19 outbreak. The longer the global outbreak and measures designed to curb the spread of the virus continue to adversely affect levels of consumer confidence, discretionary spending and the willingness of consumers to interact with other consumers, vendors and service providers face-to-face (and in turn, adversely affect demand for the Company’s various products and services), the greater the adverse impact is likely to be on the Company’s business, financial condition and results of operations and the more limited will be the Company’s ability to try and make up for delayed or lost revenues.

In March 2020, the Company's ANGI Homeservices business experienced a decline in demand for service 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. ANGI Homeservices continued to experience strong demand for home services in the third quarter of 2020. However, many service professionals' businesses have been adversely impacted by labor and material constraints and many service professionals have limited capacity to take on new business, which has 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 decline in revenue due, in part, to the decrease in advertising rates due to the impact of COVID-19, which decrease in rates was more significant earlier in the year.

In the quarter ended March 31, 2020, the Company determined that the effects of COVID-19 were an indicator of possible impairment for certain of its assets 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 of certain equity securities without readily determinable fair values; and

•a $7.5 million impairment of a note receivable and a warrant related to certain investees.

There were no impairments identified during the second quarter of 2020.

In the quarter ended September 30, 2020, the Company recorded impairments of $53.2 million and $10.8 million related to the goodwill and intangible assets, respectively, of the Desktop reporting unit. Refer to "Certain Risks and Concentrations—Services Agreement with Google" for additional information.

In addition, the United States, which represents 81% and 80% of the Company's revenue for the three and nine months ended September 30, 2020, respectively, has experienced a significant resurgence of the COVID-19 virus with record levels of infection being reported in the weeks following September 30, 2020. Europe, which is the second largest market for the

Company's products and services, has also seen a dramatic resurgence in COVID-19. This resurgence and the measures designed to curb its spread could materially and adversely affect our business, financial condition and results of operations.

Accounting Estimates

Management of the Company is required to make certain estimates, judgments and assumptions during the preparation of its 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, the Company evaluates its estimates and judgments, including those related to: the fair values of cash equivalents and marketable debt and equity securities; the carrying value of accounts receivable, including the determination of the allowance for credit losses; 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 building, capitalized software, leasehold improvements 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. The Company bases its estimates and judgments on historical experience, its forecasts and budgets and other factors that the Company considers relevant.

Accounting for Investments in Equity Securities

Investments in equity securities, other than those of the Company's consolidated and 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, 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 the Company. The Company 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 the Company considers 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, the Company prepares quantitative assessments of the fair value of its investments in equity securities, which require judgment and the use of estimates. When the Company's assessment indicates that the fair value of the investment is below its carrying value, the Company writes down the investment to its fair value and records the corresponding charge within other income (expense), net. See "Note 5 - Financial Instruments and Fair Value Measurements" for additional information on the impairments of certain equity securities without readily determinable fair values recorded during the nine months ended September 30, 2020.

In the event the Company has investments in the common stock or in-substance common stock of entities in which the Company has the ability to exercise significant influence over the operating and financial matters of the investee, but does not have a controlling financial interest, are accounted for using the equity method and are included in "Long-term investments" in the accompanying balance sheet. At September 30, 2020 and December 31, 2019, the Company did not have any investments accounted for using the equity method.

General Revenue Recognition

Revenue is recognized when control of the promised services or goods is transferred to the Company's customers and in the amount that reflects the consideration the Company expects to be entitled to in exchange for those services or goods.

The Company's disaggregated revenue disclosures are presented in "Note 10—Segment Information."

Prior to January 1, 2020, ANGI's Handy business recorded revenue on a net basis. Effective January 1, 2020, the Company 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 changed for HomeAdvisor pre-priced jobs and will be later than consumer connection revenue because the Company will not be able to record revenue, generally, until the service professional completes the job on the Company's behalf. The change to gross revenue reporting for Handy and HomeAdvisor’s pre-priced product offering, effective January 1, 2020, resulted in an increase in revenue of $20.8 million and $51.3 million during the three and nine months ended September 30, 2020, respectively.

Deferred Revenue

Deferred revenue consists of advance payments that are received or are contractually due in advance of the Company's performance. The Company’s deferred revenue is reported on a contract by contract basis at the end of each reporting period. The Company classifies deferred revenue as current when the term of the applicable subscription period or expected completion of the Company's performance obligation is one year or less. The current and non-current deferred revenue balances at December 31, 2019 are $178.6 million and $1.3 million, respectively. During the nine months ended September 30, 2020, the Company recognized $163.3 million of revenue that was included in the deferred revenue balance as of December 31, 2019. During the nine months ended September 30, 2019, the Company recognized $139.0 million of revenue that was included in the deferred revenue balance as of December 31, 2018. The current and non-current deferred revenue balances at September 30, 2020 are $268.2 million and $1.5 million, respectively. Non-current deferred revenue is included in “Other long-term liabilities” in the accompanying balance sheet.

Practical Expedients and Exemptions

As permitted under the practical expedient available under ASU No. 2014-09, Revenue from Contracts with Customers, the Company 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 the Company recognizes revenue at the amount which the Company has the right to invoice for services performed.

For sales incentive programs where the customer relationship period is one year or less, the Company has elected the practical expedient to expense the costs as incurred. The amount of capitalized sales commissions where the initial customer relationship period is greater than one year is $61.4 million and $42.4 million at September 30, 2020 and December 31, 2019, respectively. The current and non-current capitalized sales commissions balances are included in "Other current assets" and "Other non-current assets" in the accompanying balance sheet and are $52.5 million and $8.9 million, and $36.1 million and $6.2 million, at September 30, 2020 and December 31, 2019, respectively.

Credit Losses and Revenue Reserve

The following table presents the changes in the allowance for credit losses for the nine months ended September 30, 2020:


	September 30, 2020
	(In thousands)
Balance at January 1	$	20,257
Current period provision for credit losses	62,594
Write-offs charged against the allowance	(54,381)
Recoveries collected	1,897
Balance at September 30	$	30,367

The revenue reserve was $4.6 million and $3.9 million at September 30, 2020 and December 31, 2019, respectively. The total allowance for credit losses and revenue reserve was $35.0 million and $24.1 million as of September 30, 2020 and December 31, 2019, respectively.

Certain Risks and Concentrations—Services Agreement with Google (the "Services Agreement")

A meaningful portion of the Company's revenue is attributable to the Services Agreement. In addition, the Company earns certain other advertising revenue from Google that is not attributable to the Services Agreement. For the three and nine months ended September 30, 2020, total revenue earned from Google was $132.4 million and $385.9 million, representing 17% and 18%, respectively, of the Company's revenue. For the three and nine months ended September 30, 2019, total revenue earned from Google was $182.4 million and $574.7 million, representing 26% and 28%, respectively, of the Company's combined revenue. Accounts receivable related to revenue earned from Google totaled $46.3 million and $53.0 million at September 30, 2020 and December 31, 2019, respectively.

Revenue attributable to the Services Agreement is earned by the Desktop business and Ask Media Group, both within the Search segment. For the three and nine months ended September 30, 2020, revenue from the Services Agreement of $35.6 million and $118.9 million, respectively, was earned within the Desktop business and $83.7 million and $231.2 million, respectively, within Ask Media Group. For the three and nine months ended September 30, 2019, revenue from the Services Agreement of $68.0 million and $234.1 million, respectively, was earned within the Desktop business and $100.3 million and $299.1 million, respectively, within Ask Media Group.

The Services Agreement expires on March 31, 2023; provided that during each September, 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. Neither party gave notice to the other party to terminate the Services Agreement pursuant to this provision in September 2020. The Services Agreement requires that the Company 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 the Company as well as other companies. These policy and guideline updates could in turn require modifications to, or prohibit and/or render obsolete certain of the Company's products, services and/or business practices, which could be costly to address or otherwise have an adverse effect on the Company's financial condition and results of operations, particularly the businesses in our Search segment. From time to time, 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 and Google may do so in the future.

Google implemented industry-wide policy changes that became effective on July 1, 2019 and August 27, 2020. These industry-wide changes, combined with other changes to policies 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.

In the quarter ended September 30, 2020, the Company reassessed the fair values of the Desktop reporting unit and the related indefinite-lived intangible assets and recorded impairments equal to the remaining carrying value of the goodwill of $53.2 million and $10.8 million related to the intangible assets. The reduction in the Company’s fair value estimates is due to lower consumer queries, increasing challenges in monetization and the reduced ability to market profitably due to policy changes implemented by Google and other browsers. The effects of COVID-19 on monetization were an additional factor.

Adoption of New Accounting Pronouncements

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

The Company adopted ASU No. 2016-13 effective January 1, 2020. 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. The Company adopted ASU No. 2016-13 using the modified retrospective approach and there was no cumulative effect arising from the adoption. The adoption of ASU No. 2016-13 did not have a material impact on the Company's financial statements.

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

The Company adopted ASU No. 2019-12 effective January 1, 2020, 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. 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. The Company 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 did not have a material impact on the Company's financial statements.

Reclassifications

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

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company was included within Old IAC’s tax group for purposes of federal and consolidated state income tax return filings through June 30, 2020, the date of the Separation. For periods prior thereto, the income tax benefit/provision were computed for the Company on an as if standalone, separate return basis and payments to and refunds from Old IAC for the Company’s share of Old IAC’s consolidated federal and state tax return liabilities/receivables calculated on this basis have been reflected within cash flows from operating activities in the accompanying statement of cash flows. At the end of each interim period, the Company estimates the annual expected effective income tax rate and applies that rate to its ordinary year-to-date earnings or loss. The income tax provision or benefit related to significant, unusual, or extraordinary items, if applicable, that will be separately reported or reported net of their related tax effects are individually computed and recognized in the interim period in which they occur. In addition, the effect of changes in enacted tax laws or rates, tax status, judgment on the realizability of a beginning-of-the-year deferred tax asset in future years or unrecognized tax benefits is recognized in the interim period in which the change occurs. The computation of the annual expected effective income tax rate at each interim period requires certain estimates and assumptions including, but not limited to, the expected pre-tax income (or loss) for the year, projections of the proportion of income (and/or loss) earned and taxed in foreign jurisdictions, permanent and temporary differences, and the likelihood of the realization of deferred tax assets generated in the current year. The accounting estimates used to compute the provision or benefit for income taxes may change as new events occur, more experience is acquired, additional information is obtained or the Company's tax environment changes. To the extent that the expected annual effective income tax rate changes during a quarter, the effect of the change on prior quarters is included in income tax provision in the quarter in which the change occurs. We have calculated the provision for income taxes during the three and nine months ended September 30, 2020 using the estimated annual effective tax rate method described above. We have used the discrete effective tax rate method to calculate domestic taxes for the three and nine months ended September 30, 2019 because small changes in estimated ordinary income would result in significant changes in the estimated annual effective tax rate. For the three and nine months ended September 30, 2020, the Company recorded an income tax benefit of $29.5 million and $107.0 million respectively, due primarily to excess tax benefits generated by the exercise and vesting of stock-based awards, partially offset by the non-deductible portion of the Desktop goodwill impairment. For the three and nine months ended September 30, 2019, the Company recorded an income tax benefit of $19.1 million and $53.3 million respectively, due primarily to excess tax benefits generated by the exercise and vesting of stock-based awards. As a result of the Separation, the Company's net deferred tax liability was adjusted via invested capital for tax attributes allocated to it from Old IAC's consolidated federal and state tax filings. The allocation of tax attributes that was recorded as of June 30, 2020 was preliminary. Any subsequent adjustment to allocated tax attributes will be recorded as an adjustment to deferred taxes and additional paid-in capital. This adjustment is expected to be made in the fourth quarter of 2021 following the filing of income tax returns for the year ending December 31, 2020. The Company recognizes interest and, if applicable, penalties related to unrecognized tax benefits in the income tax provision. Accruals for interest and penalties are not material. The Company 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") has substantially completed its audit of Old IAC’s federal income tax returns for the years ended December 31, 2010 through 2016, which includes the operations of the Company. The IRS began its audit of the year ended December 31, 2017 in the second quarter of 2020. The statute of limitations for the years 2010 through 2012 and for the years 2013 through 2017 have been extended to May 31, 2021 and December 31, 2021, respectively. Returns filed in various other jurisdictions are open to examination for tax years beginning with 2009. Income taxes payable include unrecognized tax benefits considered sufficient to pay assessments that may result from the examination of prior year tax returns. The Company considers many factors when evaluating and estimating its 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 the Company, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future. At September 30, 2020 and December 31, 2019, unrecognized tax benefits, including interest and penalties, are $19.5 million and $20.3 million, respectively. Unrecognized tax benefits, including interest and penalties, at September 30, 2020 decreased by $0.8 million due primarily to research credits. If unrecognized tax benefits at September 30, 2020 are subsequently recognized, $18.0 million, net of related deferred tax assets and interest, would reduce income tax expense. The comparable amount as of December 31, 2019 was $18.9 million. The Company believes it is reasonably possible that its unrecognized tax benefits could decrease by $6.1 million by March 31, 2021, due primarily to expirations of statutes of limitations and other settlements, all of which would reduce the income tax provision.

- 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

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

BUSINESS COMBINATION

On February 11, 2020, the Company acquired 100% of Care.com, a leading global platform for finding and managing family care, for a total purchase price of $626.9 million, which includes cash consideration of $587.0 million paid by the Company and the settlement of all outstanding vested employee equity awards for $40.0 million paid by Care.com prior to the completion of the acquisition. The Company's purchase accounting is not yet complete and is not expected to be finalized until the first quarter of 2021; the allocation of purchase price to the fair value of assets acquired and liabilities assumed, primarily intangible assets, goodwill, income tax related assets and liabilities and contingent liabilities, is preliminary and subject to revision.

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


	Care.com
	(In thousands)
Cash and cash equivalents	$	57,702
Short-term investments	20,000
Accounts receivable	20,213
Other current assets	7,479
Property and equipment	2,894
Goodwill	415,164
Intangible assets	145,300
Other non-current assets	30,444
Total assets	699,196
Deferred revenue	(13,422)
Other current liabilities	(38,801)
Deferred income taxes	(33,960)
Other non-current liabilities	(26,039)
Net assets acquired	$	586,974

The Company acquired Care.com because it is complementary to other marketplace businesses of IAC. The purchase price was based on the expected financial performance of Care.com, not on the value of the net identifiable assets at the time of acquisition. This resulted in a significant portion of the purchase price being attributed to goodwill.

The preliminary estimated fair values of the identifiable intangible assets acquired at the date of acquisition are as follows:


	Care.com
	(In thousands)		Useful Life (Years)
Indefinite-lived trade name and trademarks	$	59,300	Indefinite
Developed technology	49,500		2
Customer relationships	35,700		2 - 5
Provider relationships	800		4
Total identifiable intangible assets acquired	$	145,300

Accounts receivable, other current assets, other non-current assets, other current liabilities and other non-current liabilities of Care.com were reviewed and adjusted to their fair values at the date of acquisition, as necessary. The fair value of deferred revenue was determined using an income approach that utilized a cost to fulfill analysis. The fair values of the trade name and developed technology were determined using an income approach that utilized the relief from royalty methodology. The fair values of customer relationships and provider relationships were determined using an income approach that utilized the excess earnings methodology. The valuations of the intangible assets incorporate significant unobservable inputs and require significant judgment and estimates, including the amount and timing of future cash flows and the determination of royalty and discount rates. The amount attributed to goodwill is not tax deductible.

The financial results of Care.com are included in the Company's financial statements, within the Emerging & Other segment, beginning February 11, 2020. For the three and nine months ended September 30, 2020, the Company included $56.7 million and $123.2 million of revenue, respectively, and $15.7 million and $31.6 million of net loss, respectively, in its statement of operations related to Care.com. For the three and nine months ended September 30, 2020, the net loss of Care.com reflects a reduction in revenue of $2.4 million and $15.7 million, respectively, due to the write-off of deferred revenue due to purchase accounting fair value adjustments and $2.6 million and $9.6 million, respectively, in transaction-related costs, including severance.

Unaudited pro forma financial information

The unaudited pro forma financial information in the table below presents the results of the Company and Care.com as if this acquisition had occurred on January 1, 2019. 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 acquisition occurred on January 1, 2019. For the three and nine months ended September 30, 2020, pro forma adjustments include a reduction in transaction related costs (including stock-based compensation expense related to the acceleration of vesting of outstanding employee equity awards) of $2.6 million and $65.7 million, respectively, because they are one-time in nature and will not have a continuing impact on operations and an increase in revenue of $2.4 million and $15.6 million, respectively, related to deferred revenue written off as a part of the acquisition. For the three and nine months ended September 30, 2019, pro forma adjustments include an increase in amortization of intangibles of $20.9 million and $30.0 million, respectively, and a decrease in revenue of $1.1 million and $10.6 million, respectively, related to the deferred revenue written off as a part of the acquisition.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Revenue	$	790,783	$	757,574	$	2,240,452	$	2,182,252
Net earnings (loss) attributable to IAC shareholders	$	190,766	$	(646)	$	(221,290)	$	(31,083)
Basic earnings (loss) per share attributable to IAC shareholders	$	2.24	$	(0.01)	$	(2.59)	$	(0.37)
Diluted earnings (loss) per share attributable to IAC shareholders	$	2.11	$	(0.01)	$	(2.59)	$	(0.37)

GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Goodwill and intangible assets, net are as follows:


	September 30,		December 31,
	2020		2019
	(In thousands)
Goodwill	$	1,767,834	$	1,616,867
Intangible assets with indefinite lives	245,932		225,296
Intangible assets with definite lives, net of accumulated amortization	148,483		124,854
Total goodwill and intangible assets, net	$	2,162,249	$	1,967,017

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the nine months ended September 30, 2020:


	Balance at December 31, 2019		Additions		(Deductions)		Impairment		Foreign Exchange Translation		Balance at September 30, 2020
	(In thousands)
ANGI Homeservices	$	884,296	$	—	$	—	$	—	$	736	$	885,032
Vimeo	219,374		—		(38)		—		—		219,336
Search	265,146		—		—		(265,146)		—		—
Emerging & Other	248,051		415,164		—		—		251		663,466
Total	$	1,616,867	$	415,164	$	(38)	$	(265,146)	$	987	$	1,767,834

Additions are related to the acquisition of Care.com (included in the Emerging & Other segment).

In the quarter ended March 31, 2020, the Company determined that the effects of COVID-19 were an indicator of possible impairment for certain of its reporting units and indefinite-lived intangible assets and identified the following impairments:

•a $212.0 million impairment related to the goodwill of the Desktop reporting unit (included in the Search segment) and

•a $21.4 million impairment related to certain indefinite-lived intangible assets of the Desktop reporting unit (included in the Search segment).

The Company also reassessed the fair value of the Mosaic Group reporting unit (included in the Emerging & Other segment) and determined that as of September 30, 2020, its fair value approximates its carrying value of $239.9 million. To the extent there is a decline in the fair value of the Mosaic reporting unit below its carrying value, a goodwill impairment would be recorded to the extent the carrying value exceeds the fair value.

The fair values of the Desktop and Mosaic Group reporting units were determined using both an income approach based on discounted cash flows ("DCF") and a market approach. 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 were based on the most recent forecasts for Desktop and Mosaic Group for 2020 and each of the years in the forecast period, which were updated in light of the factors described above. For years beyond the forecast period, Desktop and Mosaic Group estimates were based, in part, on forecasted growth rates. The discount rates used in the DCF analyses were intended to reflect the risks inherent in the expected future cash flows of the Desktop and Mosaic Group reporting units. The discount rate used for determining the fair value of both the Desktop and Mosaic Group reporting units was 15.0%. 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 the Desktop and Mosaic Group reporting units. To determine a peer group of companies for Desktop and Mosaic Group, the Company considered companies relevant in terms of consumer use, monetization model, margin and growth characteristics, and brand strength operating in their respective sectors. The aggregate carrying value of goodwill for which the most recent estimate of the excess of fair value over carrying value is less than 20% is approximately $655.0 million.

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, the Company recorded an impairment of $3.3 million related to the goodwill of the College Humor Media business (included in the Emerging & Other Segment), which was sold on March 16, 2020.

The September 30, 2020 goodwill balances reflect accumulated impairment losses of $981.3 million and $198.3 million at Search and Dotdash, respectively. The December 31, 2019 goodwill balances reflect accumulated impairment losses of $716.2 million and $198.3 million at Search and Dotdash, respectively, and $14.9 million related to College Humor Media (included in the Emerging & Other segment).

As described above, the Company updated its calculations of the fair value for certain of its indefinite-lived intangible assets as of March 31, 2020 and September 30, 2020 and recorded impairments of $32.2 million in aggregate at Desktop, related to indefinite-lived trade names. The impairment of indefinite-lived intangible assets is included in “Amortization of intangibles” in the accompanying statement of operations. The Company 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 were 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 were based upon an estimate of the royalty rates that a market participant would pay to license the Company's trade names and trademarks. The discount rate used to value the trade names that were impaired in the first quarter of 2020 was 15.0% and the royalty rate was 1.0%. 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 20% is approximately $59.3 million.

At September 30, 2020 and December 31, 2019, intangible assets with definite lives are as follows:


	September 30, 2020
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life (Years)
	(In thousands)
Technology	$	188,893	$	(102,542)	$	86,351	3.9
Service professional relationships	97,618		(96,799)		819		3.0
Customer lists and user base	58,396		(27,050)		31,346		3.6
Trade names	45,691		(16,845)		28,846		2.1
Memberships	15,900		(15,900)		—		3.0
Other	10,439		(9,318)		1,121		3.4
Total	$	416,937	$	(268,454)	$	148,483	3.4


	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
Trade names	12,777		(8,082)		4,695		3.5
Memberships	15,900		(11,940)		3,960		3.0
Other	10,439		(7,278)		3,161		3.4
Total	$	326,308	$	(201,454)	$	124,854	3.7

At September 30, 2020, amortization of intangible assets with definite lives is estimated to be as follows:


	(In thousands)
Remainder of 2020	$	22,408
2021	73,412
2022	36,712
2023	13,509
2024	1,742
Thereafter	700
Total	$	148,483

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

Marketable Debt Securities

At September 30, 2020, 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	$	349,949	$	5	$	(1)	$	349,953
Total available-for-sale marketable debt securities	$	349,949	$	5	$	(1)	$	349,953

The Company did not hold any marketable debt securities at December 31, 2019.

The contractual maturities of debt securities classified as current available-for-sale at September 30, 2020 are within one year. There are 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 September 30, 2020.

Long-term Investments

Long-term investments consists of:


	September 30, 2020		December 31, 2019
	(In thousands)

Investment in MGM Resorts International ("MGM")	$	1,283,987	$	—
Equity securities without readily determinable fair values	296,491		347,975
Total long-term investments	$	1,580,478	$	347,975

Investment in MGM

During the three and nine months ended September 30, 2020, the Company purchased 35.6 million and 59.0 million shares of MGM, respectively. The fair value of the investment in MGM is remeasured each reporting period and any unrealized gains or losses are included in "Other income (expense), net" in the accompanying statement of operations. For the three and nine months ended September 30, 2020, the Company recognized an unrealized gain of $289.1 million and $264.4 million, respectively, on its investment in MGM.

Equity Securities without Readily Determinable Fair Values

During the first quarter of 2020, the Company recorded unrealized impairments of $51.5 million related to certain equity securities without readily determinable fair values due to the impact of COVID-19. All gains and losses on equity securities

without readily determinable fair values, realized and unrealized, are recognized in "Other income (expense), net" in the accompanying statement of operations.

The following table presents a summary of unrealized gains and losses recorded in "Other income (expense), net," as adjustments to the carrying value of equity securities without readily determinable fair values held as of September 30, 2020 and 2019.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Upward adjustments (gross unrealized gains)	$	—	$	53	$	—	$	53
Downward adjustments including impairment (gross unrealized losses)	—		(543)		(51,484)		(1,193)
Total	$	—	$	(490)	$	(51,484)	$	(1,140)

The cumulative upward and downward adjustments (including impairments) to the carrying value of equity securities without readily determinable fair values held at September 30, 2020 were $19.7 million and $49.5 million, respectively.

Realized and unrealized gains and losses for the Company's marketable equity securities and investments without readily determinable fair values for the three and nine months ended September 30, 2020 and 2019 are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Realized gains (losses), net, for equity securities sold	$	2,976	$	(8)	$	488	$	2,006
Unrealized gains (losses), net, on equity securities held	289,097		(5,066)		215,394		24,114
Total gains (losses), net recognized in other income (expense), net	$	292,073	$	(5,074)	$	215,882	$	26,120

Fair Value Measurements

The Company 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 the Company'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 the Company 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.

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


	September 30, 2020
	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	$	1,717,738	$	—	$	—	$	1,717,738
Treasury discount notes	—		1,349,926		—		1,349,926
Time deposits	—		42,988		—		42,988

Marketable debt securities:
Treasury discount notes	—		349,953		—		349,953
Long-term investments:
Investment in MGM	1,283,987		—		—		1,283,987
Other non-current assets:
Warrant	—		—		4,748		4,748
Total	$	3,001,725	$	1,742,867	$	4,748	$	4,749,340


	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 arrangement	$	—	$	—	$	(6,918)	$	(6,918)

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


	Three Months Ended September 30,
	2020		2019
	Warrant		Warrant		Contingent Consideration Arrangement
	(In thousands)
Balance at July 1	$	7,079	$	—	$	(29,803)
Fair value at date of acquisition	—		17,518		—
Total net (losses) gains:
Included in earnings:
Fair value adjustments	(2,331)		(8,689)		16,139
Balance at September 30	$	4,748	$	8,829	$	(13,664)


	Nine Months Ended September 30,
	2020				2019
	Warrant		Contingent Consideration Arrangements		Warrant		Contingent Consideration Arrangement
	(In thousands)
Balance at January 1	$	8,495	$	(6,918)	$	—	$	(26,657)
Fair value at date of acquisition	—		(1,000)		17,518		—
Total net (losses) gains:
Included in earnings:
Fair value adjustments	(3,747)		6,918		(8,689)		12,993
Settlements	—		1,000		—		—
Balance at September 30	$	4,748	$	—	$	8,829	$	(13,664)

Warrant

As part of the Company's investment in Turo, a peer-to-peer car sharing marketplace, the Company received a warrant that is net settleable at the Company's option and is recorded at fair value each reporting period with any change included in "Other income (expense), net" in the accompanying statement of operations. The warrant is measured using significant unobservable inputs and is classified in the fair value hierarchy table as Level 3. The warrant is included in "Other non-current assets" in the accompanying balance sheet.

Contingent Consideration Arrangements

At September 30, 2020, the Company has one outstanding contingent consideration arrangement related to a business acquisition. The maximum contingent payments related to this arrangement for periods subsequent to December 31, 2019 total $30.0 million. The potential earnout payment for the year ended December 31, 2019 was $15.0 million; however, the financial performance threshold that would have triggered that payment was not achieved. At September 30, 2020, the Company does not expect to make any payments related to this contingent consideration arrangement. In connection with the Care.com acquisition on February 11, 2020, the Company assumed a contingent consideration arrangement liability of $1.0 million, which was subsequently paid and settled during the first quarter of 2020.

Generally, our contingent consideration arrangements are based upon financial performance and/or operating metric targets and the Company 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 obligations to determine the net amount reflected in the financial statements.

The fair value of contingent consideration arrangements is sensitive to changes in the expected achievement of the applicable targets and changes in discount rates. The Company 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 statement of operations. There is no contingent consideration liability outstanding at September 30, 2020. The contingent consideration arrangement liability at December 31, 2019 includes a non-current portion of $6.9 million and, is included in “Other long-term liabilities” in the accompanying balance sheet.

Assets measured at fair value on a nonrecurring basis

The Company's non-financial assets, such as goodwill, intangible assets, ROU assets and building, capitalized software, leasehold improvements and equipment, are adjusted to fair value only when an impairment is recognized. The Company'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. See "Note 4—Goodwill and Intangible Assets" for a detailed description of the Desktop goodwill and indefinite-lived intangible asset impairments recorded during the first and third quarter of 2020.

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:


	September 30, 2020				December 31, 2019
	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)	$	(13,750)	$	(13,750)	$	(13,681)
Long-term debt, net(a)	$	(715,408)	$	(715,288)	$	(231,946)	$	(232,581)

_____________________

(a) At September 30, 2020 and December 31, 2019, the carrying value of long-term debt, net includes unamortized debt issuance costs of $8.0 million and $1.8 million, respectively.

At September 30, 2020 and December 31, 2019, 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.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

LONG-TERM DEBT

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

LONG-TERM DEBT

Long-term debt consists of:


	September 30, 2020		December 31, 2019
	(In thousands)
3.875% ANGI Group Senior Notes due August 15, 2028 ("ANGI Group Senior Notes"); interest payable each February 15 and August 15, commencing February 15, 2021	$	500,000	$	—
ANGI Group Term Loan due November 5, 2023 ("ANGI Group Term Loan")	237,188		247,500
Total long-term debt	737,188		247,500
Less: current portion of ANGI Group Term Loan	13,750		13,750
Less: unamortized debt issuance costs	8,030		1,804
Total long-term debt, net	$	715,408	$	231,946

ANGI Group Senior Notes

On August 20, 2020, ANGI Group, LLC ("ANGI Group"), a direct wholly-owned subsidiary of ANGI, issued $500 million in aggregate principal amount of the ANGI Group Senior Notes, the proceeds of which are intended for general corporate purposes, including potential future acquisitions and return of capital. At any time prior to August 15, 2023, these notes may be redeemed at a redemption price equal to the sum of the principal amount thereof, plus accrued and unpaid interest and a make-whole premium. Thereafter, these notes may be redeemed at the redemption prices set forth below, plus accrued and unpaid interest thereon, if any, to the applicable redemption date, if redeemed during the twelve-month period beginning on August 15 of the years indicated below:


Year	Percentage
2023	101.938	%
2024	100.969	%
2025 and thereafter	100.000	%

The indenture governing the ANGI Group Senior Notes contains a covenant that would limit ANGI Group’s ability to incur liens for borrowed money in the event a default has occurred or the ANGI Group’s secured leverage ratio (as defined in the indenture) exceeds 3.75 to 1.0. At September 30, 2020, there were no limitations pursuant thereto.

ANGI Group Term Loan and ANGI Group Revolving Facility

ANGI was a party to a credit agreement that terminates on November 5, 2021. On August 12, 2020, ANGI Group entered into a joinder agreement with ANGI, the other subsidiaries of ANGI that are party to the credit agreement, and each of the other loan parties to the credit agreement, pursuant to which, ANGI Group became the successor borrower under the credit agreement and ANGI Homeservices Inc.'s obligations thereunder were terminated. The credit agreement governs the ANGI Group Term Loan and revolving credit facility (the "ANGI Group Revolving Facility"). In addition, on August 12, 2020, the definition of "Permitted Unsecured Ratio Debt" in the credit agreement was amended to remove the requirement that guarantees of certain indebtedness of the borrower be subordinated to the guarantees under the credit agreement.

The outstanding balance of the ANGI Group Term Loan was $237.2 million and $247.5 million at September 30, 2020 and December 31, 2019, respectively. 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. Additionally, interest payments are due at least quarterly through the term of the loan. At both September 30, 2020 and December 31, 2019, the ANGI Group Term Loan bore interest at LIBOR plus 1.50%, or 1.66% and 3.25%, respectively. The spread over LIBOR is subject to change in future periods based on ANGI Group's consolidated net leverage ratio.

The ANGI Group Term Loan requires ANGI Group 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 ANGI Group credit agreement). The ANGI Group credit agreement also contains covenants that would limit ANGI Group's ability to pay dividends or make distributions in the event a default has occurred or ANGI Group's consolidated net leverage ratio exceeds 4.25 to 1.0. At September 30, 2020, there were no limitations pursuant thereto.

The $250 million ANGI Group Revolving Facility expires on November 5, 2023. At September 30, 2020 and December 31, 2019, there were no outstanding borrowings under the ANGI Group Revolving Facility. The annual commitment fee on undrawn funds is based on ANGI Group's consolidated net leverage ratio most recently reported and was 25 basis points at both September 30, 2020 and December 31, 2019. Any future borrowings under the ANGI Group Revolving Facility would bear interest, at ANGI Group's option, at either a base rate or LIBOR, in each case plus an applicable margin, which is based on ANGI Group's consolidated net leverage ratio. The financial and other covenants are the same as those for the ANGI Group Term Loan.

The ANGI Group Senior Notes, ANGI Group Term Loan and ANGI Group Revolving Facility are guaranteed by certain of ANGI Group's wholly-owned material domestic subsidiaries and ANGI Group’s obligations under the ANGI Group Term Loan and the ANGI Group Revolving Facility are secured by substantially all assets of ANGI Group and the guarantors, subject

to certain exceptions. The ANGI Group Term Loan and outstanding borrowings, if any, under the ANGI Group Revolving Facility rank equally with each other, and have priority over the ANGI Group Senior Notes to the extent of the value of the assets securing the borrowings under the credit agreement.

IAC Group Credit Facility

The IAC Group, LLC ("IAC Group") $250 million revolving credit facility (the "IAC Group Credit Facility"), which was scheduled to expire on November 5, 2023, was terminated effective October 2, 2020. At September 30, 2020 and December 31, 2019, there were no outstanding borrowings under the IAC Group Credit Facility.

Long-term Debt Maturities

Long-term debt maturities as of September 30, 2020 are summarized in the table below:


	(In thousands)
Remainder of 2020	$	3,438
2021	13,750
2022	27,500
2023	192,500
2028	500,000
Total	737,188
Less: current portion of ANGI Group Term Loan	13,750
Less: unamortized debt issuance costs	8,030
Total long-term debt, net	$	715,408

SHAREHOLDERS' EQUITY	9 Months Ended
SHAREHOLDERS' EQUITY	Sep. 30, 2020
Equity [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS' EQUITY Description of Common Stock and Class B Convertible Common Stock Except as described herein, shares of IAC common stock and IAC Class B common stock are identical. Each holder of shares of IAC common stock and IAC Class B common stock vote together as a single class with respect to matters that may be submitted to a vote or for the consent of IAC's shareholders generally, including the election of directors. In connection with any such vote, each holder of IAC common stock is entitled to one vote for each share of IAC common stock held and each holder of IAC Class B common stock is entitled to ten votes for each share of IAC Class B common stock held. Notwithstanding the foregoing, the holders of shares of IAC common stock, acting as a single class, are entitled to elect 25% of the total number of IAC's directors, and, in the event that 25% of the total number of directors shall result in a fraction of a director, then the holders of shares of IAC common stock, acting as a single class, are entitled to elect the next higher whole number of IAC's directors. In addition, Delaware law requires that certain matters be approved by the holders of shares of IAC common stock or holders of IAC Class B common stock voting as a separate class. Shares of IAC Class B common stock are convertible into shares of IAC common stock at the option of the holder thereof, at any time, on a share-for-share basis. Such conversion ratio will in all events be equitably preserved in the event of any recapitalization of IAC by means of a stock dividend on, or a stock split or combination of, outstanding shares of IAC common stock or IAC Class B common stock, or in the event of any merger, consolidation or other reorganization of IAC with another corporation. Upon the conversion of shares of IAC Class B common stock into shares of IAC common stock, those shares of IAC Class B common stock will be retired and will not be subject to reissue. Shares of IAC common stock are not convertible into shares of IAC Class B common stock. The holders of shares of IAC common stock and the holders of shares of IAC Class B common stock are entitled to receive, share for share, such dividends as may be declared by IAC's Board of Directors out of funds legally available therefor. In the event of a liquidation, dissolution, distribution of assets or winding-up of IAC, the holders of shares of IAC common stock and the holders of shares of IAC Class B common stock are entitled to receive, share for share, all the assets of IAC available for distribution to its stockholders, after the rights of the holders of any IAC preferred stock have been satisfied.

ACCUMULATED OTHER COMPREHENSIVE LOSS

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

The following tables present the components of accumulated other comprehensive loss:


	Three Months Ended September 30, 2020						Three Months Ended September 30, 2019
	Foreign Currency Translation Adjustment		Unrealized (Losses) Gains On Available-For-Sale Debt Securities		Accumulated Other Comprehensive Loss		Foreign Currency Translation Adjustment		Accumulated Other Comprehensive Loss
	(In thousands)
Balance as of July 1	$	(13,780)	$	(1)	$	(13,781)	$	(12,258)	$	(12,258)
Other comprehensive income (loss)	1,948		4		1,952		(2,499)		(2,499)
Allocation of accumulated other comprehensive income (loss) related to noncontrolling interests	11		—		11		(19)		(19)
Balance as of September 30	$	(11,821)	$	3	$	(11,818)	$	(14,776)	$	(14,776)


	Nine Months Ended September 30, 2020						Nine Months Ended September 30, 2019
	Foreign Currency Translation Adjustment		Unrealized Gains On Available-For-Sale Debt Securities		Accumulated Other Comprehensive Loss		Foreign Currency Translation Adjustment		Unrealized Gains (Losses) On Available-For-Sale Debt Securities		Accumulated Other Comprehensive Loss
	(In thousands)
Balance as of January 1	$	(12,226)	$	—	$	(12,226)	$	(12,543)	$	2	$	(12,541)
Other comprehensive income (loss) before reclassifications	585		3		588		(2,223)		(2)		(2,225)
Amounts reclassified to earnings	(144)		—		(144)		—		—		—
Net current period other comprehensive income (loss)	441		3		444		(2,223)		(2)		(2,225)
Allocation of accumulated other comprehensive loss related to noncontrolling interests	(36)		—		(36)		(10)		—		(10)
Balance as of September 30	$	(11,821)	$	3	$	(11,818)	$	(14,776)	$	—	$	(14,776)

The amount reclassified out of foreign currency translation adjustment into earnings for the nine months ended September 30, 2020 relate to the liquidation of an international subsidiary.

At both September 30, 2020 and 2019, there was no tax benefit or provision on the accumulated other comprehensive loss.

EARNINGS (LOSS) PER SHARE

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHAREThe following table sets forth the computation of basic and diluted earnings (loss) per share attributable to IAC shareholders:


	Three Months Ended September 30,
	2020				2019
	Basic		Diluted		Basic		Diluted
	(In thousands, except per share data)
Numerator:
Net earnings	$	185,861	$	185,861	$	18,378	$	18,378
Net earnings attributable to noncontrolling interests	(944)		(944)		(1,912)		(1,912)
Impact from public subsidiary dilutive securities (b)	—		(79)		—		—
Net earnings attributable to IAC shareholders	$	184,917	$	184,838	$	16,466	$	16,466

Denominator:
Weighted average basic shares outstanding	85,297		85,297		85,132		85,132
Dilutive securities(a) (b) (c)	—		5,180		—		—
Denominator for earnings per share—weighted average shares (a) (b) (c)	85,297		90,477		85,132		85,132

Earnings per share attributable to IAC shareholders:
Earnings per share	$	2.17	$	2.04	$	0.19	$	0.19


	Nine Months Ended September 30,
	2020				2019
	Basic		Diluted		Basic		Diluted
	(In thousands, except per share data)
Numerator:
Net (loss) earnings	$	(238,774)	$	(238,774)	$	26,726	$	26,726
Net earnings attributable to noncontrolling interests	(625)		(625)		(10,718)		(10,718)
Impact from public subsidiary dilutive securities (b)	—		(150)		—		—
Net (loss) earnings attributable to IAC shareholders	$	(239,399)	$	(239,549)	$	16,008	$	16,008

Denominator:
Weighted average basic shares outstanding	85,295		85,295		85,132		85,132
Dilutive securities(a) (b) (c)	—		—		—		—
Denominator for earnings per share—weighted average shares (a) (b) (c)	85,295		85,295		85,132		85,132

Loss (earnings) per share attributable to IAC shareholders:
Loss (earnings) per share	$	(2.81)	$	(2.81)	$	0.19	$	0.19

_____________________

(a) If the effect is dilutive, weighted average common shares outstanding include the incremental shares that would be issued upon the assumed exercise of stock options and subsidiary denominated equity, and vesting of restricted stock units ("RSUs"). For the three months ended September 30, 2020, less than 0.1 million potentially dilutive securities were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. For the nine months ended September 30, 2020, the Company had a loss from operations and as a result, approximately 6.0 million potentially dilutive securities were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. Accordingly, the weighted average basic shares outstanding were used to compute the earnings per share amounts for the nine months ended September 30, 2020.

(b) IAC has the option to settle certain ANGI stock-based awards in its shares. For the three months ended September 30, 2020, it is more dilutive for IAC to settle these ANGI equity awards. For the nine months ended September 30, 2020, the Company had a loss from operations, therefore it is

more dilutive for ANGI to settle these ANGI equity awards. The impact on earnings relates to the settlement of ANGI's dilutive securities under the if-converted method.

(c) The Company computed basic and diluted earnings per share for periods prior to the Separation using the shares issued on June 30, 2020 in connection with the Separation.

SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

SEGMENT INFORMATION

The overall concept that the Company 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 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:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Revenue:
ANGI Homeservices	$	389,913	$	357,358	$	1,108,624	$	1,004,697
Vimeo	75,130		52,145		199,432		141,439
Dotdash	50,774		40,285		139,515		111,974
Search	145,208		185,664		430,890		575,608
Emerging & Other	127,425		69,988		320,594		201,820
Inter-segment eliminations	(73)		(58)		(193)		(251)
Total	$	788,377	$	705,382	$	2,198,862	$	2,035,287

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)

ANGI Homeservices
Marketplace:
Consumer connection revenue(a)	$	287,568	$	252,552	$	800,047	$	695,370
Service professional membership subscription revenue	12,195		15,995		38,989		48,697
Other revenue	6,944		4,915		19,620		11,186
Total Marketplace revenue	306,707		273,462		858,656		755,253
Advertising and other revenue(b)	65,519		65,682		195,119		190,285
Total North America revenue	372,226		339,144		1,053,775		945,538
Consumer connection revenue(c)	14,006		14,125		43,640		46,480
Service professional membership subscription revenue	3,278		3,465		9,792		10,820
Advertising and other revenue	403		624		1,417		1,859
Total Europe revenue	17,687		18,214		54,849		59,159
Total ANGI Homeservices revenue	$	389,913	$	357,358	$	1,108,624	$	1,004,697

(a) Includes fees paid by service professionals for consumer matches and revenue from pre-priced jobs sourced through the HomeAdvisor and Handy platforms.
(b) Includes Angie's List revenue from service professionals under contract for advertising and Angie's List membership subscription fees from consumers, as well as revenue from mHelpDesk and HomeStars.
(c) Includes fees paid by service professionals for consumer matches.

Vimeo
Platform revenue	$	75,130	$	52,145	$	199,432	$	139,160
Hardware revenue	—		—		—		2,279
Total Vimeo revenue	$	75,130	$	52,145	$	199,432	$	141,439

Dotdash
Display advertising revenue	$	31,836	$	29,158	$	88,326	$	84,171
Performance marketing revenue	18,938		11,127		51,189		27,803
Total Dotdash revenue	$	50,774	$	40,285	$	139,515	$	111,974

Search
Advertising revenue
Google advertising revenue:	$	120,838	$	168,574	$	352,918	$	534,389
Non-Google advertising revenue	20,171		13,357		64,878		28,893
Total advertising revenue	141,009		181,931		417,796		563,282
Other revenue	4,199		3,733		13,094		12,326
Total Search revenue	$	145,208	$	185,664	$	430,890	$	575,608

Emerging & Other
Subscription revenue	$	84,369	$	50,081	$	217,974	$	141,759
Marketplace revenue	35,476		10,399		83,711		30,288
Advertising revenue:
Non-Google advertising revenue	4,255		5,704		10,470		16,455
Google advertising revenue	859		1,002		2,204		3,030
Total advertising revenue	5,114		6,706		12,674		19,485
Other revenue	2,466		2,802		6,235		10,288
Total Emerging & Other revenue	$	127,425	$	69,988	$	320,594	$	201,820

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Revenue:
United States	$	638,474	$	552,106	$	1,763,585	$	1,572,540
All other countries	149,903		153,276		435,277		462,747
Total	$	788,377	$	705,382	$	2,198,862	$	2,035,287


	September 30, 2020		December 31, 2019
	(In thousands)
Long-lived assets (excluding goodwill, intangible assets and ROU assets):
United States	$	254,869	$	297,433
All other countries	10,949		7,981
Total	$	265,818	$	305,414

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Operating (loss) income:
ANGI Homeservices	$	(3,019)	$	24,726	$	(1,671)	$	32,488
Vimeo	(3,298)		(11,155)		(25,623)		(40,555)
Dotdash	11,773		3,695		21,860		13,752
Search	(52,979)		28,758		(264,761)		100,551
Emerging & Other	(35,123)		8,520		(61,979)		(21,259)
Corporate	(45,980)		(40,632)		(215,809)		(119,018)
Total	$	(128,626)	$	13,912	$	(547,983)	$	(34,041)


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Adjusted EBITDA (d):
ANGI Homeservices	$	38,487	$	58,923	$	130,820	$	147,534
Vimeo	$	3,421	$	(7,997)	$	(12,706)	$	(33,661)
Dotdash	$	16,181	$	7,026	$	35,304	$	22,551
Search	$	11,875	$	29,177	$	34,449	$	101,982
Emerging & Other	$	(8,061)	$	(5,274)	$	(30,648)	$	(26,684)
Corporate	$	(26,733)	$	(21,943)	$	(115,315)	$	(60,735)

_____________________

(d) The Company'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. The Company believes this measure is useful for analysts and investors as this measure allows a more meaningful comparison between the Company's

performance and that of its competitors. The above items are excluded from the Company's 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 (loss) income for the Company's reportable segments and net earnings (loss) attributable to IAC shareholders to Adjusted EBITDA:


	Three Months Ended September 30, 2020
	Operating (Loss) Income		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Arrangements		Goodwill Impairment		Adjusted EBITDA
	(In thousands)
ANGI Homeservices	$	(3,019)	$	14,697	$	13,921	$	12,888	$	—	$	—	$	38,487
Vimeo	(3,298)		$	—	$	106	$	6,613	$	—	$	—	$	3,421
Dotdash	11,773		$	—	$	742	$	3,666	$	—	$	—	$	16,181
Search	(52,979)		$	—	$	881	$	10,800	$	—	$	53,173	$	11,875
Emerging & Other	(35,123)		$	25	$	853	$	26,184	$	—	$	—	$	(8,061)
Corporate	(45,980)		$	16,997	$	2,250	$	—	$	—	$	—	$	(26,733)
Total	(128,626)
Interest expense	(5,807)
Other income, net	290,786
Earnings before income taxes	156,353
Income tax benefit	29,508
Net earnings	185,861
Net earnings attributable to noncontrolling interests	(944)
Net earnings attributable to IAC shareholders	$	184,917


	Three Months Ended September 30, 2019
	Operating Income (Loss)		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Arrangements		Adjusted EBITDA
	(In thousands)
ANGI Homeservices	$	24,726	$	8,784	$	11,244	$	14,169	$	—	$	58,923
Vimeo	(11,155)		$	—	$	39	$	3,119	$	—	$	(7,997)
Dotdash	3,695		$	—	$	216	$	3,115	$	—	$	7,026
Search	28,758		$	—	$	419	$	—	$	—	$	29,177
Emerging & Other	8,520		$	—	$	203	$	2,142	$	(16,139)	$	(5,274)
Corporate	(40,632)		$	15,801	$	2,888	$	—	$	—	$	(21,943)
Total	13,912
Interest expense	(2,898)
Other expense, net	(11,715)
Loss before income taxes	(701)
Income tax benefit	19,079
Net earnings	18,378
Net earnings attributable to noncontrolling interests	(1,912)
Net earnings attributable to IAC shareholders	$	16,466


	Nine Months Ended September 30, 2020
	Operating (Loss) Income		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Arrangements		Goodwill Impairment		Adjusted EBITDA
	(In thousands)
ANGI Homeservices	$	(1,671)	$	55,031	$	38,614	$	38,846	$	—	$	—	$	130,820
Vimeo	(25,623)		$	—	$	266	$	12,651	$	—	$	—	$	(12,706)
Dotdash	21,860		$	—	$	1,569	$	11,875	$	—	$	—	$	35,304
Search	(264,761)		$	—	$	1,864	$	32,200	$	—	$	265,146	$	34,449
Emerging & Other	(61,979)		$	75	$	1,533	$	36,641	$	(6,918)	$	—	$	(30,648)
Corporate	(215,809)		$	93,491	$	7,003	$	—	$	—	$	—	$	(115,315)
Total	(547,983)
Interest expense	(9,579)
Other income, net	211,769
Loss before income taxes	(345,793)
Income tax benefit	107,019
Net loss	(238,774)
Net earnings attributable to noncontrolling interests	(625)
Net loss attributable to IAC shareholders	$	(239,399)


	Nine Months Ended September 30, 2019
	Operating Income (Loss)		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Arrangements		Adjusted EBITDA
	(In thousands)
ANGI Homeservices	$	32,488	$	45,586	$	27,039	$	42,421	$	—	$	147,534
Vimeo	(40,555)		$	—	$	364	$	6,530	$	—	$	(33,661)
Dotdash	13,752		$	—	$	660	$	8,139	$	—	$	22,551
Search	100,551		$	—	$	1,431	$	—	$	—	$	101,982
Emerging & Other	(21,259)		$	—	$	546	$	7,022	$	(12,993)	$	(26,684)
Corporate	(119,018)		$	49,281	$	9,002	$	—	$	—	$	(60,735)
Total	(34,041)
Interest expense	(9,402)
Other income, net	16,850
Loss before income taxes	(26,593)
Income tax benefit	53,319
Net earnings	26,726
Net earnings attributable to noncontrolling interests	(10,718)
Net earnings attributable to IAC shareholders	$	16,008

- 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
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+ Details

FINANCIAL STATEMENT DETAILS

9 Months Ended

Sep. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

FINANCIAL STATEMENT DETAILS

Cash and Cash Equivalents and Restricted Cash

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


	September 30, 2020		December 31, 2019		September 30, 2019		December 31, 2018
	(In thousands)
Cash and cash equivalents	$	3,471,713	$	839,796	$	685,965	$	884,975
Restricted cash included in other current assets	12,711		527		1,445		1,441
Restricted cash included in other non-current assets	429		409		404		420
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$	3,484,853	$	840,732	$	687,814	$	886,836

Restricted cash included in other current assets at September 30, 2020 primarily consists of cash received from customers at Care.com’s payment solutions business, representing funds collected for payroll and related taxes, which were not remitted as of the period end. Restricted cash included in other current assets at December 31, 2019 primarily consists of a deposit related to corporate credit cards. Restricted cash included in other current assets at September 30, 2019 and December 31, 2018 primarily consists of a cash collateralized letter of credit and a deposit related to corporate credit cards.

Restricted cash included in other non-current assets for all periods presented consists of deposits related to leases.

Accumulated Amortization and Depreciation

The following table provides the accumulated amortization and depreciation within the consolidated balance sheet:


Asset Category	September 30, 2020		December 31, 2019
	(In thousands)
Right-of-use assets included in other non-current assets	$	65,409	$	35,775
Building, capitalized software, leasehold improvements and equipment, net	$	217,069	$	201,798
Intangible assets	$	268,454	$	201,454

Other income (expense), net


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Unrealized gains (losses) related to investments (a)	$	289,097	$	(4,576)	$	264,379	$	25,322
Interest income	971		3,697		6,557		11,930

Realized gain related to the sale of an investment	2,671		—		2,671		—
Impairments related to impact of COVID-19 (b)	—		—		(59,001)		—
Unrealized reduction in the estimated fair value of a warrant	(2,331)		(8,689)		(1,741)		(8,689)
Realized loss related to the sale of Vimeo's hardware business	—		—		—		(8,234)
Mark-to-market loss on an indemnification claim related to the Handy acquisition	—		(945)		(181)		(1,999)

Other	378		(1,202)		(915)		(1,480)
Other income (expense), net	$	290,786	$	(11,715)	$	211,769	$	16,850

_____________________

(a) Includes unrealized gains of $289.1 million and $264.4 million related to the Company's investment in MGM for the three and nine months ended September 30, 2020, respectively, and an unrealized loss of $4.6 million and unrealized gain of $25.3 million related to the Company's investment in Pinterest, for the three and nine months ended September 30, 2019, respectively.

(b) Includes $51.5 million in impairments related to investments in equity securities without readily determinable fair values and $7.5 million in impairments of a note receivable and a warrant related to certain investees.

CONTINGENCIES	9 Months Ended
CONTINGENCIES	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES In the ordinary course of business, the Company is a party to various lawsuits. The Company 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 the Company believes an unfavorable outcome is not probable and, therefore, no reserve is established. Although management currently believes that resolving claims against the Company, 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 the Company, these matters are subject to inherent uncertainties and management's view of these matters may change in the future. The Company 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 the Company. See "Note 2—Income Taxes" for additional information related to income tax contingencies. Tinder Optionholder Litigation against IAC and MTCH In August 2018, ten then-current and former employees of Match Group’s Tinder business 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 the plaintiffs of their contractual right to later valuations of Tinder on a stand‑alone basis. The complaint asserts inter alia claims for breach of contract and interference with contractual relations and prospective economic advantage and seeks compensatory damages in the amount of at least $2 billion, as well as punitive damages. Shortly after filing suit, 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. In October 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 time-barred under applicable law. In June 2019, the court issued a decision and order granting the motion in part but leaving plaintiffs’ principal claims intact. The defendants appealed from the partial denial of their motion to dismiss, and in October 2019, the Appellate Division, First Department, affirmed the lower court’s decision. After additional appellate motion practice, in May 2020, the Appellate Division reaffirmed the lower court’s decision on different grounds. In June 2020, the defendants filed a motion for leave to appeal that decision to the Court of Appeals; the Appellate Division denied the motion in July 2020. In June 2019, the defendants filed a second motion to dismiss based upon certain provisions of the plaintiffs’ agreement with a litigation funding firm; that motion remains pending. From July to November 2019, the defendants filed counterclaims against Sean Rad for breach of contract and unjust enrichment based upon his alleged misappropriation and unauthorized destruction of confidential company information, unauthorized recording of conversations with company employees, and breach of his non-solicitation obligations. In January 2020, the parties participated in a mediation that did not result in the resolution of the matter. Document discovery in the case is substantially complete; deposition discovery is in progress. In July 2020, the four individuals who earlier had discontinued their claims in the lawsuit commenced arbitration proceedings against IAC and Match Group before the American Arbitration Association in California, asserting the same claims and seeking the same relief as the six remaining plaintiffs in the lawsuit. In September 2020, the defendants filed a motion to stay the trial in the New York action in favor of the California arbitration proceedings; that motion remains pending. IAC believes that the allegations in this lawsuit and the arbitrations are without merit and will continue to defend vigorously against them. For a fuller description of this matter, please see Item 1. Legal Proceedings. Pursuant to the Transaction Agreement (as defined in Item 2-Management's Discussion and Analysis of Financial Condition and Results of Operations-General-Separation), Match Group has agreed to indemnify the Company for matters relating to any business of Match Group, including indemnifying the Company for costs related to the matter described above.

RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 30, 2020

RELATED PARTY TRANSACTIONS

Relationship with Old IAC prior to the Separation

The Company’s statement of operations includes allocations of costs, including stock-based compensation expense, related to Old IAC’s accounting, treasury, legal, tax, corporate support and internal audit functions prior to the Separation. Old IAC historically allocated costs related to its accounting, treasury, legal, tax, corporate support and internal audit functions that were incurred at the Old IAC legal entity level to its publicly traded subsidiaries, Old MTCH and ANGI Homeservices, 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 Old MTCH initial public offering in November 2015 and the combination of the HomeAdvisor business and Angie's List, Inc into ANGI Homeservices on September 29, 2017 (the "Combination"), Old IAC billed Old MTCH 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 the Company. Allocated costs, inclusive of stock-based compensation expense, in 2020 prior to the Separation, were $85.5 million. Allocated costs, inclusive of stock-based compensation expense, were $46.6 million and $119.0 million for the three and nine months ended September 30, 2019, respectively. It is not practicable to determine the actual expenses that would have been incurred for these services had the Company 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 statement of operations that is related party in nature was less than $0.1 million in 2020 prior to the Separation, and $0.2 million for both the three and nine months ended September 30, 2019, respectively, and is included in ‘‘Interest income, net’’ in the table below.

The following table summarizes the components of the net increase in Old IAC’s investment in the Company for the periods prior to the Separation:


	Six Months Ended June 30, the date of the Separation		Three Months Ended September 30,		Nine Months Ended September 30,
	2020		2019
	(In thousands)
Cash transfers from Old IAC related to its centrally managed U.S. treasury management function, acquisitions and cash expenses paid by Old IAC on behalf of the Company, net	$	(1,742,854)	$	(246,652)	$	(154,754)
Contribution of buildings to Match Group	34,973		—		—
Taxes	34,436		18,876		(125)
Allocation of costs from Old IAC	(12,652)		(30,911)		(69,870)
Interest income, net	102		189		189
Net increase in Old IAC's investment in the Company prior to the Separation	$	(1,685,995)	$	(258,498)	$	(224,560)

Notes Receivable—Related Party

During 2019, the Company, through two subsidiaries, entered into loan agreements with Old IAC for cash transfers to Old IAC under its centrally managed U.S. treasury function. During the first quarter of 2020, the outstanding balance, which was $55.3 million at December 31, 2019, was repaid.

On February 11, 2020, the Company, through a subsidiary, entered into a loan agreement with Old IAC for cash transfers to Old IAC under its centrally managed U.S. treasury function. During the second quarter of 2020, the outstanding balance, which was $27.2 million at March 31, 2020, was repaid.

Long-term Debt—Related Party

On December 14, 2018, the Company, through a subsidiary, entered into a loan agreement with Old IAC for 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, which was $2.5 million at December 31, 2018, was repaid.

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. Upon the Separation, Old IAC assigned these agreements to the Company.

For the three and nine months ended September 30, 2020, 0.1 million and 0.3 million shares, respectively of ANGI Class B common stock were issued to a subsidiary of the Company pursuant to the employee matters agreement as reimbursement for shares of IAC common stock, issued for periods after the Separation, and Old IAC common stock, issued for periods prior to the Separation, in connection with the exercise and vesting of IAC and Old IAC equity awards held by ANGI employees. For the three and nine months ended September 30, 2019, 0.1 million and 0.5 million shares, respectively, of ANGI Class B common stock were issued to a subsidiary of the Company pursuant to the employee matters agreement.

For the three and nine months ended September 30, 2020 and 2019, ANGI was charged $1.3 million and $3.6 million; and $1.0 million and $3.7 million, respectively, by IAC, for periods after the Separation, and Old IAC, for periods prior to the Separation, for services rendered pursuant to the services agreement. There were no outstanding receivables or payables pursuant to the services agreement as of September 30, 2020 or December 31, 2019.

At September 30, 2020 and December 31, 2019, ANGI had outstanding payables of $0.6 million and $0.2 million, respectively, due to the Company pursuant to the tax sharing agreement. There were $3.1 million of refunds made to ANGI pursuant to this agreement during the nine months ended September 30, 2020. There were no payments to or refunds from ANGI pursuant to this agreement during the three months ended September 30, 2020. During the first quarter of 2019, $11.4 million was paid to the Company pursuant to this agreement.

Additionally, the Company subleases office space from ANGI and was charged $0.5 million and $1.4 million; and $0.5 million and $1.0 million of rent for the three and nine months ended September 30, 2020 and 2019, respectively. At both September 30, 2020 and 2019, there were outstanding payables of less than $0.1 million due to ANGI pursuant to sublease agreements, which were subsequently paid in full in each respective fourth quarter.

IAC and Old MTCH

Prior to the Separation, for the six months ended June 30, 2020, the date of the Separation, and for the three and nine months ended September 30, 2019, Old MTCH incurred rent expense of $1.4 million; and $1.5 million and $4.4 million respectively, for leasing office space for certain of its businesses at properties owned by the Company. The amounts were paid in full by Old MTCH at the date of Separation and at September 30, 2019, respectively. After the Separation, Match Group is no longer a related party.

On January 31, 2020, Old IAC contributed two office buildings in Los Angeles to Old MTCH, which are primarily occupied and were previously leased from the Company by Tinder. In connection with the contribution, the Company entered into a lease with Old MTCH for office space, which the Company currently occupies, in one of the buildings and for the six months ended June 30, 2020, the date of the Separation, the Company paid Old MTCH less than $0.1 million under the lease. Old MTCH issued 1.4 million shares of Old MTCH common stock to Old IAC for the buildings.

IAC and Expedia

The Company and Expedia each have a 50% ownership interest in two aircraft that may be used by both companies. In 2019, the Company 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. The Company 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 the third quarter of 2021. Members of the aircraft flight crews are employed by an entity in which the Company and Expedia each have a 50% ownership interest. The Company 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. The Company and Expedia are related parties since they were under common control, given that Mr. Diller serves as Chairman and Senior Executive of both IAC and Expedia. For the three and nine months ended September 30, 2020 and 2019, total payments made to this entity by the Company were not material.

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On November 5, 2020, the Company announced it is considering a spin-off of its ownership stake in Vimeo to its shareholders; the Company also entered into an agreement to raise $150 million at Vimeo at an enterprise value of approximately $2.75 billion. On November 5, 2020, the Company entered into a new, ten-year employment agreement (the "Employment Agreement") and a Restricted Stock Agreement ("RSA Agreement") with Joseph Levin, IAC's Chief Executive Officer. The Employment Agreement provides for an annual base salary of $1,000,000 and a discretionary annual bonus, as determined by the Compensation Committee of the Board. The RSA Agreement provides for a grant of 3,000,000 shares of IAC restricted common stock, that cliff vest on the ten-year anniversary of the grant date based on satisfaction of IAC's stock price targets and Mr. Levin's continued employment through the vesting date. Mr. Levin may elect to accelerate vesting of the IAC restricted shares, effective on the 6th, 7th, 8th, or 9th anniversary of the grant date, in which case performance will be measured through such date, and Mr. Levin will receive a pro-rated portion of the award (based on the years elapsed from the grant date) and any remaining shares will be forfeited. The applicable stock price goals are proportionately lower on the earlier vesting dates.

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations The Company operates Vimeo, Dotdash and Care.com, among many other online businesses, and has majority ownership of ANGI Homeservices, which includes HomeAdvisor, Angie’s List and Handy.
Basis of Presentation	Basis of Presentation As used herein, ‘‘IAC,’’ the ‘‘Company,’’ ‘‘we,’’ ‘‘our’’ or ‘‘us’’ and similar terms refer to IAC/InterActiveCorp and the businesses comprising IAC (unless the context requires otherwise). The Company prepares its consolidated and combined financial statements (collectively referred to herein as "financial statements") in accordance with U.S. generally accepted accounting principles (‘‘GAAP’’). The Company's financial statements were prepared on a consolidated basis beginning June 30, 2020 and on a combined basis for periods prior thereto. The difference in presentation is due to the fact that the final steps of the legal reorganization, including the contribution of all the entities that comprise the Company following the Separation, were not completed until June 30, 2020. The preparation of the financial statements on a combined basis for periods prior to June 30, 2020 allows for the financial statements to be presented on a consistent basis for all periods presented. The historical combined financial statements of the Company have been 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 entities comprising the Company since their respective dates of acquisition by Old IAC and the allocation to the Company of certain Old IAC corporate expenses based on the historical financial statements and accounting records of Old IAC through June 30, 2020. The consolidated financial statements include the accounts of the Company, all entities that are wholly-owned by the Company and all entities in which the Company has a controlling financial interest. For the purpose of the combined financial statements, income taxes have been computed as if the entities comprising the Company filed tax returns on a standalone, separate basis for periods prior to the Separation. All intercompany transactions and balances between and among the Company and its subsidiaries have been eliminated. All intercompany transactions between (i) the Company and (ii) Old IAC and its subsidiaries for periods prior to the Separation 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 statement of cash flows as a financing activity and in the balance sheet as ‘‘Invested capital.’’ In management’s opinion, the assumptions underlying the historical financial statements of the Company, 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. The accompanying unaudited financial statements have been prepared in accordance with GAAP for interim financial information and with the rules and regulations of the Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and notes required by GAAP for complete annual financial statements. In the opinion of management, the accompanying unaudited financial statements include all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation. Interim results are not necessarily indicative of the results that may be expected for the full year. The accompanying unaudited interim financial statements should be read in conjunction with the annual audited financial statements of the Company and notes thereto for the year ended December 31, 2019 filed on the Current Report on Form 8-K with the SEC on October 5, 2020.
Accounting Estimates	Accounting Estimates Management of the Company is required to make certain estimates, judgments and assumptions during the preparation of its 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, the Company evaluates its estimates and judgments, including those related to: the fair values of cash equivalents and marketable debt and equity securities; the carrying value of accounts receivable, including the determination of the allowance for credit losses; 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 building, capitalized software, leasehold improvements 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. The Company bases its estimates and judgments on historical experience, its forecasts and budgets and other factors that the Company considers relevant.
Accounting for Investments and Equity Securities	Accounting for Investments in Equity Securities Investments in equity securities, other than those of the Company's consolidated and 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, 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 the Company. The Company 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 the Company considers 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, the Company prepares quantitative assessments of the fair value of its investments in equity securities, which require judgment and the use of estimates. When the Company's assessment indicates that the fair value of the investment is below its carrying value, the Company writes down the investment to its fair value and records the corresponding charge within other income (expense), net. See "Note 5 - Financial Instruments and Fair Value Measurements" for additional information on the impairments of certain equity securities without readily determinable fair values recorded during the nine months ended September 30, 2020. In the event the Company has investments in the common stock or in-substance common stock of entities in which the Company has the ability to exercise significant influence over the operating and financial matters of the investee, but does not have a controlling financial interest, are accounted for using the equity method and are included in "Long-term investments" in the accompanying balance sheet. At September 30, 2020 and December 31, 2019, the Company did not have any investments accounted for using the equity method.
General Revenue Recognition	General Revenue Recognition Revenue is recognized when control of the promised services or goods is transferred to the Company's customers and in the amount that reflects the consideration the Company expects to be entitled to in exchange for those services or goods. The Company's disaggregated revenue disclosures are presented in "Note 10—Segment Information." Prior to January 1, 2020, ANGI's Handy business recorded revenue on a net basis. Effective January 1, 2020, the Company 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 changed for HomeAdvisor pre-priced jobs and will be later than consumer connection revenue because the Company will not be able to record revenue, generally, until the service professional completes the job on the Company's behalf. The change to gross revenue reporting for Handy and HomeAdvisor’s pre-priced product offering, effective January 1, 2020, resulted in an increase in revenue of $20.8 million and $51.3 million during the three and nine months ended September 30, 2020, respectively. Deferred Revenue Deferred revenue consists of advance payments that are received or are contractually due in advance of the Company's performance. The Company’s deferred revenue is reported on a contract by contract basis at the end of each reporting period. The Company classifies deferred revenue as current when the term of the applicable subscription period or expected completion of the Company's performance obligation is one year or less. The current and non-current deferred revenue balances at December 31, 2019 are $178.6 million and $1.3 million, respectively. During the nine months ended September 30, 2020, the Company recognized $163.3 million of revenue that was included in the deferred revenue balance as of December 31, 2019. During the nine months ended September 30, 2019, the Company recognized $139.0 million of revenue that was included in the deferred revenue balance as of December 31, 2018. The current and non-current deferred revenue balances at September 30, 2020 are $268.2 million and $1.5 million, respectively. Non-current deferred revenue is included in “Other long-term liabilities” in the accompanying balance sheet. Practical Expedients and Exemptions As permitted under the practical expedient available under ASU No. 2014-09, Revenue from Contracts with Customers, the Company 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 the Company recognizes revenue at the amount which the Company has the right to invoice for services performed. For sales incentive programs where the customer relationship period is one year or less, the Company has elected the practical expedient to expense the costs as incurred.
Certain Risks and Concentrations - Services Agreement with Google (the "Services Agreement")	Certain Risks and Concentrations—Services Agreement with Google (the "Services Agreement")A meaningful portion of the Company's revenue is attributable to the Services Agreement. In addition, the Company earns certain other advertising revenue from Google that is not attributable to the Services Agreement.
Adoption of New Accounting Pronouncements	Adoption of New Accounting Pronouncements Adoption of ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The Company adopted ASU No. 2016-13 effective January 1, 2020. 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. The Company adopted ASU No. 2016-13 using the modified retrospective approach and there was no cumulative effect arising from the adoption. The adoption of ASU No. 2016-13 did not have a material impact on the Company's financial statements. Adoption of ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes The Company adopted ASU No. 2019-12 effective January 1, 2020, 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. 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. The Company 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 did not have a material impact on the Company's financial statements.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

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-Name Accounting Standards Codification
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+ Details

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Credit Losses and Revenue Reserve

The following table presents the changes in the allowance for credit losses for the nine months ended September 30, 2020:


	September 30, 2020
	(In thousands)
Balance at January 1	$	20,257
Current period provision for credit losses	62,594
Write-offs charged against the allowance	(54,381)
Recoveries collected	1,897
Balance at September 30	$	30,367

BUSINESS COMBINATION (Tables)

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

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

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


	Care.com
	(In thousands)
Cash and cash equivalents	$	57,702
Short-term investments	20,000
Accounts receivable	20,213
Other current assets	7,479
Property and equipment	2,894
Goodwill	415,164
Intangible assets	145,300
Other non-current assets	30,444
Total assets	699,196
Deferred revenue	(13,422)
Other current liabilities	(38,801)
Deferred income taxes	(33,960)
Other non-current liabilities	(26,039)
Net assets acquired	$	586,974

Schedule of Preliminary Estimated Fair Value of Intangible Assets Acquired

The preliminary estimated fair values of the identifiable intangible assets acquired at the date of acquisition are as follows:


	Care.com
	(In thousands)		Useful Life (Years)
Indefinite-lived trade name and trademarks	$	59,300	Indefinite
Developed technology	49,500		2
Customer relationships	35,700		2 - 5
Provider relationships	800		4
Total identifiable intangible assets acquired	$	145,300

Schedule of Pro Forma Financial Information


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Revenue	$	790,783	$	757,574	$	2,240,452	$	2,182,252
Net earnings (loss) attributable to IAC shareholders	$	190,766	$	(646)	$	(221,290)	$	(31,083)
Basic earnings (loss) per share attributable to IAC shareholders	$	2.24	$	(0.01)	$	(2.59)	$	(0.37)
Diluted earnings (loss) per share attributable to IAC shareholders	$	2.11	$	(0.01)	$	(2.59)	$	(0.37)

GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill and Intangible Assets, Net

Goodwill and intangible assets, net are as follows:


	September 30,		December 31,
	2020		2019
	(In thousands)
Goodwill	$	1,767,834	$	1,616,867
Intangible assets with indefinite lives	245,932		225,296
Intangible assets with definite lives, net of accumulated amortization	148,483		124,854
Total goodwill and intangible assets, net	$	2,162,249	$	1,967,017

Schedule of Goodwill by Reportable Segment

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the nine months ended September 30, 2020:


	Balance at December 31, 2019		Additions		(Deductions)		Impairment		Foreign Exchange Translation		Balance at September 30, 2020
	(In thousands)
ANGI Homeservices	$	884,296	$	—	$	—	$	—	$	736	$	885,032
Vimeo	219,374		—		(38)		—		—		219,336
Search	265,146		—		—		(265,146)		—		—
Emerging & Other	248,051		415,164		—		—		251		663,466
Total	$	1,616,867	$	415,164	$	(38)	$	(265,146)	$	987	$	1,767,834

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

Schedule of Intangible Assets with Definite Lives

At September 30, 2020 and December 31, 2019, intangible assets with definite lives are as follows:


	September 30, 2020
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life (Years)
	(In thousands)
Technology	$	188,893	$	(102,542)	$	86,351	3.9
Service professional relationships	97,618		(96,799)		819		3.0
Customer lists and user base	58,396		(27,050)		31,346		3.6
Trade names	45,691		(16,845)		28,846		2.1
Memberships	15,900		(15,900)		—		3.0
Other	10,439		(9,318)		1,121		3.4
Total	$	416,937	$	(268,454)	$	148,483	3.4


	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
Trade names	12,777		(8,082)		4,695		3.5
Memberships	15,900		(11,940)		3,960		3.0
Other	10,439		(7,278)		3,161		3.4
Total	$	326,308	$	(201,454)	$	124,854	3.7

Schedule of Expected Amortization of Intangible Assets

At September 30, 2020, amortization of intangible assets with definite lives is estimated to be as follows:


	(In thousands)
Remainder of 2020	$	22,408
2021	73,412
2022	36,712
2023	13,509
2024	1,742
Thereafter	700
Total	$	148,483

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Marketable Securities

Schedule of Current Available-for-sale Marketable Securities

At September 30, 2020, 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	$	349,949	$	5	$	(1)	$	349,953
Total available-for-sale marketable debt securities	$	349,949	$	5	$	(1)	$	349,953

Schedule of Long-term Investments

Long-term investments consists of:


	September 30, 2020		December 31, 2019
	(In thousands)

Investment in MGM Resorts International ("MGM")	$	1,283,987	$	—
Equity securities without readily determinable fair values	296,491		347,975
Total long-term investments	$	1,580,478	$	347,975

Schedule of Realized and Unrealized Gains and Losses


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Upward adjustments (gross unrealized gains)	$	—	$	53	$	—	$	53
Downward adjustments including impairment (gross unrealized losses)	—		(543)		(51,484)		(1,193)
Total	$	—	$	(490)	$	(51,484)	$	(1,140)


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Realized gains (losses), net, for equity securities sold	$	2,976	$	(8)	$	488	$	2,006
Unrealized gains (losses), net, on equity securities held	289,097		(5,066)		215,394		24,114
Total gains (losses), net recognized in other income (expense), net	$	292,073	$	(5,074)	$	215,882	$	26,120

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

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


	September 30, 2020
	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	$	1,717,738	$	—	$	—	$	1,717,738
Treasury discount notes	—		1,349,926		—		1,349,926
Time deposits	—		42,988		—		42,988

Marketable debt securities:
Treasury discount notes	—		349,953		—		349,953
Long-term investments:
Investment in MGM	1,283,987		—		—		1,283,987
Other non-current assets:
Warrant	—		—		4,748		4,748
Total	$	3,001,725	$	1,742,867	$	4,748	$	4,749,340


	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 arrangement	$	—	$	—	$	(6,918)	$	(6,918)

Schedule of Changes in Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)

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


	Three Months Ended September 30,
	2020		2019
	Warrant		Warrant		Contingent Consideration Arrangement
	(In thousands)
Balance at July 1	$	7,079	$	—	$	(29,803)
Fair value at date of acquisition	—		17,518		—
Total net (losses) gains:
Included in earnings:
Fair value adjustments	(2,331)		(8,689)		16,139
Balance at September 30	$	4,748	$	8,829	$	(13,664)


	Nine Months Ended September 30,
	2020				2019
	Warrant		Contingent Consideration Arrangements		Warrant		Contingent Consideration Arrangement
	(In thousands)
Balance at January 1	$	8,495	$	(6,918)	$	—	$	(26,657)
Fair value at date of acquisition	—		(1,000)		17,518		—
Total net (losses) gains:
Included in earnings:
Fair value adjustments	(3,747)		6,918		(8,689)		12,993
Settlements	—		1,000		—		—
Balance at September 30	$	4,748	$	—	$	8,829	$	(13,664)

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:


	September 30, 2020				December 31, 2019
	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)	$	(13,750)	$	(13,750)	$	(13,681)
Long-term debt, net(a)	$	(715,408)	$	(715,288)	$	(231,946)	$	(232,581)

_____________________

(a) At September 30, 2020 and December 31, 2019, the carrying value of long-term debt, net includes unamortized debt issuance costs of $8.0 million and $1.8 million, respectively.

LONG-TERM DEBT (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consists of:


	September 30, 2020		December 31, 2019
	(In thousands)
3.875% ANGI Group Senior Notes due August 15, 2028 ("ANGI Group Senior Notes"); interest payable each February 15 and August 15, commencing February 15, 2021	$	500,000	$	—
ANGI Group Term Loan due November 5, 2023 ("ANGI Group Term Loan")	237,188		247,500
Total long-term debt	737,188		247,500
Less: current portion of ANGI Group Term Loan	13,750		13,750
Less: unamortized debt issuance costs	8,030		1,804
Total long-term debt, net	$	715,408	$	231,946

Debt Instrument Redemption

Thereafter, these notes may be redeemed at the redemption prices set forth below, plus accrued and unpaid interest thereon, if any, to the applicable redemption date, if redeemed during the twelve-month period beginning on August 15 of the years indicated below:


Year	Percentage
2023	101.938	%
2024	100.969	%
2025 and thereafter	100.000	%

Schedule of Maturities of Long-term Debt

Long-term debt maturities as of September 30, 2020 are summarized in the table below:


	(In thousands)
Remainder of 2020	$	3,438
2021	13,750
2022	27,500
2023	192,500
2028	500,000
Total	737,188
Less: current portion of ANGI Group Term Loan	13,750
Less: unamortized debt issuance costs	8,030
Total long-term debt, net	$	715,408

- 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

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+ Details

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Schedule of Accumulated Other Comprehensive (Loss) Income

The following tables present the components of accumulated other comprehensive loss:


	Three Months Ended September 30, 2020						Three Months Ended September 30, 2019
	Foreign Currency Translation Adjustment		Unrealized (Losses) Gains On Available-For-Sale Debt Securities		Accumulated Other Comprehensive Loss		Foreign Currency Translation Adjustment		Accumulated Other Comprehensive Loss
	(In thousands)
Balance as of July 1	$	(13,780)	$	(1)	$	(13,781)	$	(12,258)	$	(12,258)
Other comprehensive income (loss)	1,948		4		1,952		(2,499)		(2,499)
Allocation of accumulated other comprehensive income (loss) related to noncontrolling interests	11		—		11		(19)		(19)
Balance as of September 30	$	(11,821)	$	3	$	(11,818)	$	(14,776)	$	(14,776)


	Nine Months Ended September 30, 2020						Nine Months Ended September 30, 2019
	Foreign Currency Translation Adjustment		Unrealized Gains On Available-For-Sale Debt Securities		Accumulated Other Comprehensive Loss		Foreign Currency Translation Adjustment		Unrealized Gains (Losses) On Available-For-Sale Debt Securities		Accumulated Other Comprehensive Loss
	(In thousands)
Balance as of January 1	$	(12,226)	$	—	$	(12,226)	$	(12,543)	$	2	$	(12,541)
Other comprehensive income (loss) before reclassifications	585		3		588		(2,223)		(2)		(2,225)
Amounts reclassified to earnings	(144)		—		(144)		—		—		—
Net current period other comprehensive income (loss)	441		3		444		(2,223)		(2)		(2,225)
Allocation of accumulated other comprehensive loss related to noncontrolling interests	(36)		—		(36)		(10)		—		(10)
Balance as of September 30	$	(11,821)	$	3	$	(11,818)	$	(14,776)	$	—	$	(14,776)

EARNINGS (LOSS) PER SHARE (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings (Loss) Per Share

The following table sets forth the computation of basic and diluted earnings (loss) per share attributable to IAC shareholders:


	Three Months Ended September 30,
	2020				2019
	Basic		Diluted		Basic		Diluted
	(In thousands, except per share data)
Numerator:
Net earnings	$	185,861	$	185,861	$	18,378	$	18,378
Net earnings attributable to noncontrolling interests	(944)		(944)		(1,912)		(1,912)
Impact from public subsidiary dilutive securities (b)	—		(79)		—		—
Net earnings attributable to IAC shareholders	$	184,917	$	184,838	$	16,466	$	16,466

Denominator:
Weighted average basic shares outstanding	85,297		85,297		85,132		85,132
Dilutive securities(a) (b) (c)	—		5,180		—		—
Denominator for earnings per share—weighted average shares (a) (b) (c)	85,297		90,477		85,132		85,132

Earnings per share attributable to IAC shareholders:
Earnings per share	$	2.17	$	2.04	$	0.19	$	0.19


	Nine Months Ended September 30,
	2020				2019
	Basic		Diluted		Basic		Diluted
	(In thousands, except per share data)
Numerator:
Net (loss) earnings	$	(238,774)	$	(238,774)	$	26,726	$	26,726
Net earnings attributable to noncontrolling interests	(625)		(625)		(10,718)		(10,718)
Impact from public subsidiary dilutive securities (b)	—		(150)		—		—
Net (loss) earnings attributable to IAC shareholders	$	(239,399)	$	(239,549)	$	16,008	$	16,008

Denominator:
Weighted average basic shares outstanding	85,295		85,295		85,132		85,132
Dilutive securities(a) (b) (c)	—		—		—		—
Denominator for earnings per share—weighted average shares (a) (b) (c)	85,295		85,295		85,132		85,132

Loss (earnings) per share attributable to IAC shareholders:
Loss (earnings) per share	$	(2.81)	$	(2.81)	$	0.19	$	0.19

_____________________

more dilutive for ANGI to settle these ANGI equity awards. The impact on earnings relates to the settlement of ANGI's dilutive securities under the if-converted method.

(c) The Company computed basic and diluted earnings per share for periods prior to the Separation using the shares issued on June 30, 2020 in connection with the Separation.

SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following table presents revenue by reportable segment:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Revenue:
ANGI Homeservices	$	389,913	$	357,358	$	1,108,624	$	1,004,697
Vimeo	75,130		52,145		199,432		141,439
Dotdash	50,774		40,285		139,515		111,974
Search	145,208		185,664		430,890		575,608
Emerging & Other	127,425		69,988		320,594		201,820
Inter-segment eliminations	(73)		(58)		(193)		(251)
Total	$	788,377	$	705,382	$	2,198,862	$	2,035,287

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Operating (loss) income:
ANGI Homeservices	$	(3,019)	$	24,726	$	(1,671)	$	32,488
Vimeo	(3,298)		(11,155)		(25,623)		(40,555)
Dotdash	11,773		3,695		21,860		13,752
Search	(52,979)		28,758		(264,761)		100,551
Emerging & Other	(35,123)		8,520		(61,979)		(21,259)
Corporate	(45,980)		(40,632)		(215,809)		(119,018)
Total	$	(128,626)	$	13,912	$	(547,983)	$	(34,041)


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Adjusted EBITDA (d):
ANGI Homeservices	$	38,487	$	58,923	$	130,820	$	147,534
Vimeo	$	3,421	$	(7,997)	$	(12,706)	$	(33,661)
Dotdash	$	16,181	$	7,026	$	35,304	$	22,551
Search	$	11,875	$	29,177	$	34,449	$	101,982
Emerging & Other	$	(8,061)	$	(5,274)	$	(30,648)	$	(26,684)
Corporate	$	(26,733)	$	(21,943)	$	(115,315)	$	(60,735)

_____________________

Schedule of Disaggregation of Segment Revenue

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)

ANGI Homeservices
Marketplace:
Consumer connection revenue(a)	$	287,568	$	252,552	$	800,047	$	695,370
Service professional membership subscription revenue	12,195		15,995		38,989		48,697
Other revenue	6,944		4,915		19,620		11,186
Total Marketplace revenue	306,707		273,462		858,656		755,253
Advertising and other revenue(b)	65,519		65,682		195,119		190,285
Total North America revenue	372,226		339,144		1,053,775		945,538
Consumer connection revenue(c)	14,006		14,125		43,640		46,480
Service professional membership subscription revenue	3,278		3,465		9,792		10,820
Advertising and other revenue	403		624		1,417		1,859
Total Europe revenue	17,687		18,214		54,849		59,159
Total ANGI Homeservices revenue	$	389,913	$	357,358	$	1,108,624	$	1,004,697

(a) Includes fees paid by service professionals for consumer matches and revenue from pre-priced jobs sourced through the HomeAdvisor and Handy platforms.
(b) Includes Angie's List revenue from service professionals under contract for advertising and Angie's List membership subscription fees from consumers, as well as revenue from mHelpDesk and HomeStars.
(c) Includes fees paid by service professionals for consumer matches.

Vimeo
Platform revenue	$	75,130	$	52,145	$	199,432	$	139,160
Hardware revenue	—		—		—		2,279
Total Vimeo revenue	$	75,130	$	52,145	$	199,432	$	141,439

Dotdash
Display advertising revenue	$	31,836	$	29,158	$	88,326	$	84,171
Performance marketing revenue	18,938		11,127		51,189		27,803
Total Dotdash revenue	$	50,774	$	40,285	$	139,515	$	111,974

Search
Advertising revenue
Google advertising revenue:	$	120,838	$	168,574	$	352,918	$	534,389
Non-Google advertising revenue	20,171		13,357		64,878		28,893
Total advertising revenue	141,009		181,931		417,796		563,282
Other revenue	4,199		3,733		13,094		12,326
Total Search revenue	$	145,208	$	185,664	$	430,890	$	575,608

Emerging & Other
Subscription revenue	$	84,369	$	50,081	$	217,974	$	141,759
Marketplace revenue	35,476		10,399		83,711		30,288
Advertising revenue:
Non-Google advertising revenue	4,255		5,704		10,470		16,455
Google advertising revenue	859		1,002		2,204		3,030
Total advertising revenue	5,114		6,706		12,674		19,485
Other revenue	2,466		2,802		6,235		10,288
Total Emerging & Other revenue	$	127,425	$	69,988	$	320,594	$	201,820

Schedule of Revenue and Long-lived Assets, Excluding Goodwill and Intangible Assets, by Geography

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Revenue:
United States	$	638,474	$	552,106	$	1,763,585	$	1,572,540
All other countries	149,903		153,276		435,277		462,747
Total	$	788,377	$	705,382	$	2,198,862	$	2,035,287


	September 30, 2020		December 31, 2019
	(In thousands)
Long-lived assets (excluding goodwill, intangible assets and ROU assets):
United States	$	254,869	$	297,433
All other countries	10,949		7,981
Total	$	265,818	$	305,414

Schedule of Reconciliation of Operating Income to Adjusted EBITDA

The following tables reconcile operating (loss) income for the Company's reportable segments and net earnings (loss) attributable to IAC shareholders to Adjusted EBITDA:


	Three Months Ended September 30, 2020
	Operating (Loss) Income		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Arrangements		Goodwill Impairment		Adjusted EBITDA
	(In thousands)
ANGI Homeservices	$	(3,019)	$	14,697	$	13,921	$	12,888	$	—	$	—	$	38,487
Vimeo	(3,298)		$	—	$	106	$	6,613	$	—	$	—	$	3,421
Dotdash	11,773		$	—	$	742	$	3,666	$	—	$	—	$	16,181
Search	(52,979)		$	—	$	881	$	10,800	$	—	$	53,173	$	11,875
Emerging & Other	(35,123)		$	25	$	853	$	26,184	$	—	$	—	$	(8,061)
Corporate	(45,980)		$	16,997	$	2,250	$	—	$	—	$	—	$	(26,733)
Total	(128,626)
Interest expense	(5,807)
Other income, net	290,786
Earnings before income taxes	156,353
Income tax benefit	29,508
Net earnings	185,861
Net earnings attributable to noncontrolling interests	(944)
Net earnings attributable to IAC shareholders	$	184,917


	Three Months Ended September 30, 2019
	Operating Income (Loss)		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Arrangements		Adjusted EBITDA
	(In thousands)
ANGI Homeservices	$	24,726	$	8,784	$	11,244	$	14,169	$	—	$	58,923
Vimeo	(11,155)		$	—	$	39	$	3,119	$	—	$	(7,997)
Dotdash	3,695		$	—	$	216	$	3,115	$	—	$	7,026
Search	28,758		$	—	$	419	$	—	$	—	$	29,177
Emerging & Other	8,520		$	—	$	203	$	2,142	$	(16,139)	$	(5,274)
Corporate	(40,632)		$	15,801	$	2,888	$	—	$	—	$	(21,943)
Total	13,912
Interest expense	(2,898)
Other expense, net	(11,715)
Loss before income taxes	(701)
Income tax benefit	19,079
Net earnings	18,378
Net earnings attributable to noncontrolling interests	(1,912)
Net earnings attributable to IAC shareholders	$	16,466


	Nine Months Ended September 30, 2020
	Operating (Loss) Income		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Arrangements		Goodwill Impairment		Adjusted EBITDA
	(In thousands)
ANGI Homeservices	$	(1,671)	$	55,031	$	38,614	$	38,846	$	—	$	—	$	130,820
Vimeo	(25,623)		$	—	$	266	$	12,651	$	—	$	—	$	(12,706)
Dotdash	21,860		$	—	$	1,569	$	11,875	$	—	$	—	$	35,304
Search	(264,761)		$	—	$	1,864	$	32,200	$	—	$	265,146	$	34,449
Emerging & Other	(61,979)		$	75	$	1,533	$	36,641	$	(6,918)	$	—	$	(30,648)
Corporate	(215,809)		$	93,491	$	7,003	$	—	$	—	$	—	$	(115,315)
Total	(547,983)
Interest expense	(9,579)
Other income, net	211,769
Loss before income taxes	(345,793)
Income tax benefit	107,019
Net loss	(238,774)
Net earnings attributable to noncontrolling interests	(625)
Net loss attributable to IAC shareholders	$	(239,399)


	Nine Months Ended September 30, 2019
	Operating Income (Loss)		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Arrangements		Adjusted EBITDA
	(In thousands)
ANGI Homeservices	$	32,488	$	45,586	$	27,039	$	42,421	$	—	$	147,534
Vimeo	(40,555)		$	—	$	364	$	6,530	$	—	$	(33,661)
Dotdash	13,752		$	—	$	660	$	8,139	$	—	$	22,551
Search	100,551		$	—	$	1,431	$	—	$	—	$	101,982
Emerging & Other	(21,259)		$	—	$	546	$	7,022	$	(12,993)	$	(26,684)
Corporate	(119,018)		$	49,281	$	9,002	$	—	$	—	$	(60,735)
Total	(34,041)
Interest expense	(9,402)
Other income, net	16,850
Loss before income taxes	(26,593)
Income tax benefit	53,319
Net earnings	26,726
Net earnings attributable to noncontrolling interests	(10,718)
Net earnings attributable to IAC shareholders	$	16,008

FINANCIAL STATEMENT DETAILS (Tables)

9 Months Ended

Sep. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents


	September 30, 2020		December 31, 2019		September 30, 2019		December 31, 2018
	(In thousands)
Cash and cash equivalents	$	3,471,713	$	839,796	$	685,965	$	884,975
Restricted cash included in other current assets	12,711		527		1,445		1,441
Restricted cash included in other non-current assets	429		409		404		420
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$	3,484,853	$	840,732	$	687,814	$	886,836

Schedule of Restricted Cash


	September 30, 2020		December 31, 2019		September 30, 2019		December 31, 2018
	(In thousands)
Cash and cash equivalents	$	3,471,713	$	839,796	$	685,965	$	884,975
Restricted cash included in other current assets	12,711		527		1,445		1,441
Restricted cash included in other non-current assets	429		409		404		420
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$	3,484,853	$	840,732	$	687,814	$	886,836

Schedule of Accumulated Amortization and Depreciation

The following table provides the accumulated amortization and depreciation within the consolidated balance sheet:


Asset Category	September 30, 2020		December 31, 2019
	(In thousands)
Right-of-use assets included in other non-current assets	$	65,409	$	35,775
Building, capitalized software, leasehold improvements and equipment, net	$	217,069	$	201,798
Intangible assets	$	268,454	$	201,454

Schedule of Other (Expense) Income, Net

Other income (expense), net


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(In thousands)
Unrealized gains (losses) related to investments (a)	$	289,097	$	(4,576)	$	264,379	$	25,322
Interest income	971		3,697		6,557		11,930

Realized gain related to the sale of an investment	2,671		—		2,671		—
Impairments related to impact of COVID-19 (b)	—		—		(59,001)		—
Unrealized reduction in the estimated fair value of a warrant	(2,331)		(8,689)		(1,741)		(8,689)
Realized loss related to the sale of Vimeo's hardware business	—		—		—		(8,234)
Mark-to-market loss on an indemnification claim related to the Handy acquisition	—		(945)		(181)		(1,999)

Other	378		(1,202)		(915)		(1,480)
Other income (expense), net	$	290,786	$	(11,715)	$	211,769	$	16,850

RELATED PARTY TRANSACTIONS (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Related Party Transactions

The following table summarizes the components of the net increase in Old IAC’s investment in the Company for the periods prior to the Separation:


	Six Months Ended June 30, the date of the Separation		Three Months Ended September 30,		Nine Months Ended September 30,
	2020		2019
	(In thousands)
Cash transfers from Old IAC related to its centrally managed U.S. treasury management function, acquisitions and cash expenses paid by Old IAC on behalf of the Company, net	$	(1,742,854)	$	(246,652)	$	(154,754)
Contribution of buildings to Match Group	34,973		—		—
Taxes	34,436		18,876		(125)
Allocation of costs from Old IAC	(12,652)		(30,911)		(69,870)
Interest income, net	102		189		189
Net increase in Old IAC's investment in the Company prior to the Separation	$	(1,685,995)	$	(258,498)	$	(224,560)

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Revenue and Other [Line Items]
Goodwill impairment	$ 53,173		$ 0	$ 265,146	$ 0	$ 3,318
Impairment of equity securities without readily determinable fair value	51,500	$ 51,500		51,500
Impairment of note receivable and warrant		7,500
Consolidated revenue	788,377		$ 705,382	2,198,862	2,035,287
Current deferred revenue	268,225			268,225		178,647
Non-current deferred revenue	1,500			1,500		1,300
Deferred revenue recognized during period				163,300	$ 139,000
Capitalized sales commissions where the customer relationship period is greater than one year	61,400			61,400		42,400
Current capitalized sales commissions	52,500			52,500		36,100
Non-current capitalized sales commissions	8,900			8,900		6,200
Revenue reserve	4,600			4,600		3,900
Accounts Receivable, Allowance for Credit Loss, Current and Revenue Reserve	34,958			34,958		24,148
Accounts receivable related to revenue earned	$ 227,316			227,316		181,875
Search
Revenue and Other [Line Items]
Goodwill impairment				$ 265,146		0
Google Inc. \| Revenue, Segment \| Customer concentration risk
Revenue and Other [Line Items]
Concentration risk (as a percent)	17.00%		26.00%	18.00%	28.00%
Consolidated revenue	$ 132,400		$ 182,400	$ 385,900	$ 574,700
Google Inc. \| Accounts Receivable \| Customer concentration risk
Revenue and Other [Line Items]
Accounts receivable related to revenue earned	46,300			46,300		$ 53,000
Desktop \| Search
Revenue and Other [Line Items]
Goodwill impairment	53,200	212,000
Impairment of indefinite-lived intangible assets	10,800	$ 21,400		32,200
Desktop \| Google Inc. \| Revenue, Segment \| Customer concentration risk \| Search
Revenue and Other [Line Items]
Consolidated revenue	35,600		68,000	118,900	234,100
Ask Media Group \| Google Inc. \| Revenue, Segment \| Customer concentration risk \| Search
Revenue and Other [Line Items]
Consolidated revenue	83,700		100,300	231,200	299,100
Revenue Change \| Handy
Revenue and Other [Line Items]
Consolidated revenue	20,800			51,300
United States
Revenue and Other [Line Items]
Consolidated revenue	$ 638,474		$ 552,106	$ 1,763,585	$ 1,572,540
United States \| Revenue \| Geographic concentration risk
Revenue and Other [Line Items]
Concentration risk (as a percent)	81.00%			80.00%

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Changes in the Allowance for Doubtful Accounts (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 20,257
Current period provision for credit losses	62,594
Write-offs charged against the allowance	(54,381)
Recoveries collected	1,897
Balance at end of period	$ 30,367

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax provision (benefit)	$ (29,508)	$ (19,079)	$ (107,019)	$ (53,319)
Unrecognized tax benefits, including interest and penalties	19,500		19,500		$ 20,300
Increase (decrease) in unrecognized tax benefits, including interest and penalties during the period			(800)
Unrecognized tax benefits, if subsequently recognized would reduce income tax expense	18,000		18,000		$ 18,900
Decrease in unrecognized tax benefit, reasonably possible within twelve months	$ 6,100		$ 6,100

- Definition

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

+ References + Details

BUSINESS COMBINATION - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Feb. 11, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
One-Time Transaction Costs
Business Acquisition [Line Items]
Adjustment to increase (decrease) in revenues		$ (2.6)		$ (65.7)
Deferred Revenue Write Off Adjustment
Business Acquisition [Line Items]
Adjustment to increase (decrease) in revenues		2.4	$ (1.1)	15.6	$ (10.6)
Amortization Adjustment
Business Acquisition [Line Items]
Adjustment to increase (decrease) in amortization of intangible assets			$ 20.9		$ 30.0
Care.com
Business Acquisition [Line Items]
Proportion of voting interests acquired (as a percent)	100.00%
Total purchase price	$ 626.9
Cash consideration paid	587.0
Consideration transferred for settlement of outstanding vested employee equity awards	$ 40.0
Revenue		56.7		123.2
Net earnings (loss)		15.7		31.6
Write-off of deferred revenue		2.4		15.7
Transaction-related costs		$ 2.6		$ 9.6

BUSINESS COMBINATION - Preliminary Estimated Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Feb. 11, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 1,767,834		$ 1,616,867	$ 1,484,117
Care.com
Business Acquisition [Line Items]
Cash and cash equivalents		$ 57,702
Short-term investments		20,000
Accounts receivable		20,213
Other current assets		7,479
Property and equipment		2,894
Goodwill		415,164
Intangible assets		145,300
Other non-current assets		30,444
Total assets		699,196
Deferred revenue		(13,422)
Other current liabilities		(38,801)
Deferred income taxes		(33,960)
Other non-current liabilities		(26,039)
Net assets acquired		$ 586,974

BUSINESS COMBINATION - Preliminary Estimated Fair Value of Intangible Assets Acquired (Details) - Care.com $ in Thousands	Feb. 11, 2020 USD ($)
Acquired Intangible Assets [Line Items]
Total identifiable intangible assets acquired	$ 145,300
Developed technology
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 49,500
Weighted-Average Useful Life (Years)	2 years
Customer relationships
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 35,700
Customer relationships \| Minimum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	2 years
Customer relationships \| Maximum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	5 years
Provider relationships
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 800
Weighted-Average Useful Life (Years)	4 years
Indefinite-lived trade name and trademarks
Acquired Intangible Assets [Line Items]
Indefinite-lived trade name and trademarks	$ 59,300

BUSINESS COMBINATION - Pro-Forma Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Business Acquisition, Pro Forma Information [Abstract]
Revenue	$ 790,783	$ 757,574	$ 2,240,452	$ 2,182,252
Net earnings (loss) attributable to IAC shareholders	$ 190,766	$ (646)	$ (221,290)	$ (31,083)
Basic earnings (loss) per share attributable to IAC shareholders	$ 2.24	$ (0.01)	$ (2.59)	$ (0.37)
Diluted earnings (loss) per share attributable to IAC shareholders	$ 2.11	$ (0.01)	$ (2.59)	$ (0.37)

GOODWILL AND INTANGIBLE ASSETS - Summary (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 1,767,834	$ 1,616,867	$ 1,484,117
Intangible assets with indefinite lives	245,932	225,296
Intangible assets with definite lives, net of accumulated amortization	148,483	124,854
Total goodwill and intangible assets, net	$ 2,162,249	$ 1,967,017

GOODWILL AND INTANGIBLE ASSETS - Goodwill by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Goodwill
Balance at beginning of period			$ 1,616,867	$ 1,484,117	$ 1,484,117
Additions			415,164		165,313
(Deductions)			(38)		(29,293)
Impairment	$ (53,173)	$ 0	(265,146)	0	(3,318)
Foreign Exchange Translation			987		48
Balance at end of period	1,767,834		1,767,834		1,616,867
ANGI Homeservices
Goodwill
Balance at beginning of period			884,296	895,071	895,071
Additions			0		18,326
(Deductions)			0		(29,293)
Impairment			0		0
Foreign Exchange Translation			736		192
Balance at end of period	885,032		885,032		884,296
Vimeo
Goodwill
Balance at beginning of period			219,374	77,152	77,152
Additions			0		142,222
(Deductions)			(38)		0
Impairment			0		0
Foreign Exchange Translation			0		0
Balance at end of period	219,336		219,336		219,374
Search
Goodwill
Balance at beginning of period			265,146	265,146	265,146
Additions			0		0
(Deductions)			0		0
Impairment			(265,146)		0
Foreign Exchange Translation			0		0
Balance at end of period	0		0		265,146
Emerging & Other
Goodwill
Balance at beginning of period			248,051	$ 246,748	246,748
Additions			415,164		4,765
(Deductions)			0		0
Impairment			0		(3,318)
Foreign Exchange Translation			251		(144)
Balance at end of period	$ 663,466		$ 663,466		$ 248,051

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) $ in Thousands	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Goodwill [Line Items]
Goodwill impairment	$ 53,173			$ 0	$ 265,146	$ 0	$ 3,318
Goodwill	1,767,834		$ 1,616,867		1,767,834		1,616,867	$ 1,484,117
Carrying amount of goodwill for which excess of fair value over carrying value is less than 20%	655,000				655,000
Carrying amount of indefinite-lived intangible assets l for which excess of fair value over carrying value is less than 20%	$ 59,300				$ 59,300
Discount Rate \| Maximum \| Trade names
Goodwill [Line Items]
Measurement input (as a percent)	0.150				0.150
Royalty Rate \| Minimum \| Trade names
Goodwill [Line Items]
Measurement input (as a percent)	0.010				0.010
Search
Goodwill [Line Items]
Goodwill impairment					$ 265,146		0
Goodwill	$ 0		265,146		0		265,146	265,146
Accumulated impairment on goodwill	981,300		716,200		981,300		716,200
Emerging & Other
Goodwill [Line Items]
Goodwill impairment					0		3,318
Goodwill	663,466		248,051		663,466		248,051	$ 246,748
Dotdash
Goodwill [Line Items]
Accumulated impairment on goodwill	198,300		198,300		198,300		198,300
Desktop \| Search
Goodwill [Line Items]
Goodwill impairment	53,200	$ 212,000
Impairment of indefinite-lived intangible assets	$ 10,800	$ 21,400			$ 32,200
Desktop \| Search \| Discount Rate
Goodwill [Line Items]
Measurement input (as a percent)	0.150				0.150
Mosaic Group \| Search
Goodwill [Line Items]
Goodwill	$ 239,900				$ 239,900
Mosaic Group \| Search \| Discount Rate
Goodwill [Line Items]
Measurement input (as a percent)	0.150				0.150
College Humor Media \| Emerging & Other
Goodwill [Line Items]
Goodwill impairment			3,300
Accumulated impairment on goodwill			$ 14,900				$ 14,900

- Intangible Assets with Definite Lives (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Intangible assets with definite lives
Gross Carrying Amount	$ 416,937	$ 326,308
Accumulated Amortization	(268,454)	(201,454)
Total	$ 148,483	$ 124,854
Weighted-Average Useful Life (Years)	3 years 4 months 24 days	3 years 8 months 12 days
Technology
Intangible assets with definite lives
Gross Carrying Amount	$ 188,893	$ 143,255
Accumulated Amortization	(102,542)	(73,483)
Total	$ 86,351	$ 69,772
Weighted-Average Useful Life (Years)	3 years 10 months 24 days	4 years 6 months
Service professional relationships
Intangible assets with definite lives
Gross Carrying Amount	$ 97,618	$ 99,651
Accumulated Amortization	(96,799)	(76,445)
Total	$ 819	$ 23,206
Weighted-Average Useful Life (Years)	3 years	2 years 10 months 24 days
Customer lists and user base
Intangible assets with definite lives
Gross Carrying Amount	$ 58,396	$ 44,286
Accumulated Amortization	(27,050)	(24,226)
Total	$ 31,346	$ 20,060
Weighted-Average Useful Life (Years)	3 years 7 months 6 days	3 years 3 months 18 days
Trade names
Intangible assets with definite lives
Gross Carrying Amount	$ 45,691	$ 12,777
Accumulated Amortization	(16,845)	(8,082)
Total	$ 28,846	$ 4,695
Weighted-Average Useful Life (Years)	2 years 1 month 6 days	3 years 6 months
Memberships
Intangible assets with definite lives
Gross Carrying Amount	$ 15,900	$ 15,900
Accumulated Amortization	$ (15,900)	(11,940)
Total		$ 3,960
Weighted-Average Useful Life (Years)	3 years	3 years
Other
Intangible assets with definite lives
Gross Carrying Amount	$ 10,439	$ 10,439
Accumulated Amortization	(9,318)	(7,278)
Total	$ 1,121	$ 3,161
Weighted-Average Useful Life (Years)	3 years 4 months 24 days	3 years 4 months 24 days

GOODWILL AND INTANGIBLE ASSETS - Expected Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2020	$ 22,408
2021	73,412
2022	36,712
2023	13,509
2024	1,742
Thereafter	700
Total	$ 148,483	$ 124,854

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) shares in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019	Mar. 31, 2020	Feb. 11, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities			$ 0
Contractual maturity of current available-for-sale securities (less than)		1 year
Available-for-sale marketable debt securities in a continuous unrealized loss position for longer than twelve months	$ 0	$ 0
Assets measured at fair value on a nonrecurring basis
Impairment of equity securities without readily determinable fair value	51,500,000	51,500,000		$ 51,500,000
Total upward adjustments to equity securities without readily determinable fair value	19,700,000	19,700,000
Total downward adjustments to equity securities without readily determinable fair value	49,500,000	49,500,000
Contingent Consideration Arrangements
Total maximum contingent payment	30,000,000.0	30,000,000.0
Earnout payment for contingent consideration arrangement			15,000,000.0
Contingent consideration arrangement liability	$ 0	$ 0	6,918,000
Non-current portion of contingent consideration			$ 6,900,000
MGM
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of equity securities purchased	35.6	59.0
Unrealized loss on equity securities	$ 289,100,000	$ 264,400,000
Care.com
Contingent Consideration Arrangements
Contingent consideration arrangement liability					$ 1,000,000.0

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Current Available-for-Sale Marketable Securities (Details) $ in Thousands	Sep. 30, 2020 USD ($)
Schedule of Available-for-sale Marketable Securities
Amortized Cost	$ 349,949
Gross Unrealized Gains	5
Gross Unrealized Losses	(1)
Fair Value	349,953
Treasury discount notes
Schedule of Available-for-sale Marketable Securities
Amortized Cost	349,949
Gross Unrealized Gains	5
Gross Unrealized Losses	(1)
Fair Value	$ 349,953

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Long-term Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule of Investments [Line Items]
Investment in MGM Resorts International ("MGM")	$ 1,283,987
Equity securities without readily determinable fair values	296,491	$ 347,975
Long-term investments	1,580,478	347,975
MGM
Schedule of Investments [Line Items]
Investment in MGM Resorts International ("MGM")	$ 1,283,987	$ 0

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Realized and Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Adjustments to Carrying Value of Non-Marketable Equity Securities
Upward adjustments (gross unrealized gains)	$ 0	$ 53	$ 0	$ 53
Downward adjustments including impairment (gross unrealized losses)	0	(543)	(51,484)	(1,193)
Total	0	(490)	(51,484)	(1,140)
Adjustments to Carrying Value of Non-Marketable Equity Securities
Realized gains (losses), net, for equity securities sold	2,976	(8)	488	2,006
Unrealized losses related to equity securities without readily determinable fair values	289,097	(5,066)	215,394	24,114
Total gains (losses), net recognized in other income (expense), net	$ 292,073	$ (5,074)	$ 215,882	$ 26,120

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Assets:
Marketable debt securities	$ 349,953,000
Investment in MGM	1,283,987,000
Other non-current assets	266,198,000	$ 247,746,000
Total assets	4,749,340,000	731,159,000
Liabilities:
Contingent consideration arrangement	0	(6,918,000)
Quoted Market Prices in Active Markets for Identical Assets (Level 1)
Assets:
Investment in MGM	1,283,987,000
Total assets	3,001,725,000	699,589,000
Liabilities:
Contingent consideration arrangement		0
Significant Other Observable Inputs (Level 2)
Assets:
Investment in MGM	0
Total assets	1,742,867,000	23,075,000
Liabilities:
Contingent consideration arrangement		0
Significant Unobservable Inputs (Level 3)
Assets:
Investment in MGM	0
Total assets	4,748,000	8,495,000
Liabilities:
Contingent consideration arrangement		(6,918,000)
Money market funds
Assets:
Cash equivalents	1,717,738,000	699,589,000
Money market funds \| Quoted Market Prices in Active Markets for Identical Assets (Level 1)
Assets:
Cash equivalents	1,717,738,000	699,589,000
Money market funds \| Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents	0	0
Money market funds \| Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	0	0
Treasury discount notes
Assets:
Cash equivalents	1,349,926,000
Marketable debt securities	349,953,000
Treasury discount notes \| Quoted Market Prices in Active Markets for Identical Assets (Level 1)
Assets:
Cash equivalents	0
Marketable debt securities	0
Treasury discount notes \| Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents	1,349,926,000
Marketable debt securities	349,953,000
Treasury discount notes \| Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	0
Marketable debt securities	0
Time deposits
Assets:
Cash equivalents	42,988,000	23,075,000
Time deposits \| Quoted Market Prices in Active Markets for Identical Assets (Level 1)
Assets:
Cash equivalents	0	0
Time deposits \| Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents	42,988,000	23,075,000
Time deposits \| Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	0	0
Warrant
Assets:
Other non-current assets	4,748,000	8,495,000
Warrant \| Quoted Market Prices in Active Markets for Identical Assets (Level 1)
Assets:
Other non-current assets	0	0
Warrant \| Significant Other Observable Inputs (Level 2)
Assets:
Other non-current assets	0	0
Warrant \| Significant Unobservable Inputs (Level 3)
Assets:
Other non-current assets	$ 4,748,000	$ 8,495,000

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Contingent Consideration Arrangement
Contingent Consideration Arrangement
Balance at beginning of period		$ (29,803)	$ (6,918)	$ (26,657)
Fair value at date of acquisition		0	(1,000)	0
Fair value adjustments		16,139	6,918	12,993
Settlements			1,000	0
Balance at end of period	$ 0	(13,664)	0	(13,664)
Warrant
Warrant
Balance at beginning of period	7,079		8,495	0
Fair value at date of acquisition	0	17,518	0	17,518
Fair value adjustments	(2,331)	(8,689)	(3,747)	(8,689)
Settlements			0	0
Balance at end of period	$ 4,748	8,829	$ 4,748	8,829
Contingent Consideration Arrangement
Balance at beginning of period		0
Balance at end of period		$ 8,829		$ 8,829

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable—related party, current	$ 0	$ 55,251
Current portion of long-term debt	(13,750)	(13,750)
Long-term debt, net	(715,408)	(231,946)
Unamortized original issue discount and debt issuance costs	8,000	1,800
Carrying Value
Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable—related party, current	0	55,251
Current portion of long-term debt	(13,750)	(13,750)
Long-term debt, net	(715,408)	(231,946)
Fair Value
Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable—related party, current	0	55,251
Current portion of long-term debt	(13,750)	(13,681)
Long-term debt, net	$ (715,288)	$ (232,581)

LONG-TERM DEBT - Summary (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Aug. 20, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Less: current portion of ANGI Group Term Loan	$ 13,750		$ 13,750
Less: unamortized debt issuance costs	8,030
Long-term debt, net	715,408		231,946
ANGI Homeservices
Debt Instrument [Line Items]
Total long-term debt	737,188		247,500
Less: current portion of ANGI Group Term Loan	13,750		13,750
Less: unamortized debt issuance costs	8,030		1,804
Long-term debt, net	715,408		231,946
ANGI Homeservices \| Term Loan \| ANGI Group Term Loan due November 5, 2023 ("ANGI Group Term Loan")
Debt Instrument [Line Items]
Total long-term debt	237,188		247,500
ANGI Homeservices \| Senior Notes \| ANGI 3.875% Senior Notes
Debt Instrument [Line Items]
Total long-term debt	$ 500,000		$ 0
ANGI Homeservices \| Senior Notes \| 3.875% Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on debt instrument (as a percent)		3.875%

LONG-TERM DEBT - Debt Redemption (Details) - ANGI 3.875% Senior Notes - Senior Notes - ANGI Homeservices	Aug. 20, 2020
Debt Instrument, Redemption, Period One
Debt Instrument, Redemption [Line Items]
Redemption price (as a percent)	101.938%
Debt Instrument, Redemption, Period Two
Debt Instrument, Redemption [Line Items]
Redemption price (as a percent)	100.969%
Debt Instrument, Redemption, Period Three
Debt Instrument, Redemption [Line Items]
Redemption price (as a percent)	100.00%

LONG-TERM DEBT - Narrative (Details)	3 Months Ended	9 Months Ended	10 Months Ended	12 Months Ended		18 Months Ended
LONG-TERM DEBT - Narrative (Details)	Mar. 31, 2020	Sep. 30, 2020 USD ($)	Nov. 05, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2021 USD ($)	Aug. 20, 2020 USD ($)	Nov. 05, 2018 USD ($)
ANGI Homeservices
Debt Instrument [Line Items]
Principal		$ 737,188,000			$ 247,500,000
ANGI Group Term Loan due November 5, 2023 ("ANGI Group Term Loan") \| ANGI Homeservices \| Term Loan
Debt Instrument [Line Items]
Principal		$ 237,188,000			$ 247,500,000
Basis spread on variable rate (as a percent)		1.66%			3.25%
Maximum leverage ratio		4.5
Minimum interest coverage ratio		2.0
Leverage ratio limiting ability to pay dividends, make distributions, or repurchase stock		4.25
ANGI Group Term Loan due November 5, 2023 ("ANGI Group Term Loan") \| ANGI Homeservices \| Term Loan \| Forecast
Debt Instrument [Line Items]
Quarterly repayments of principal			$ 10,300,000	$ 6,900,000		$ 3,400,000
Final principal payment			$ 161,600,000
ANGI Group Term Loan due November 5, 2023 ("ANGI Group Term Loan") \| ANGI Homeservices \| Term Loan \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		1.50%			1.50%
ANGI Homeservices Credit Facility \| ANGI Homeservices \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 250,000,000
Borrowings outstanding of credit facility		$ 0			$ 0
Annual commitment fee on undrawn funds, basis points (as a percent)	0.25%	0.25%
IAC Group Credit Facility \| IAC Group \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 250,000,000
Borrowings outstanding of credit facility		$ 0			0
ANGI 3.875% Senior Notes \| ANGI Homeservices \| Senior Notes
Debt Instrument [Line Items]
Face amount of debt instrument							$ 500,000,000
Maximum leverage ratio		3.75
Principal		$ 500,000,000			$ 0

LONG-TERM DEBT - Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Remainder of 2020	$ 3,438
2021	13,750
2022	27,500
2023	192,500
2028	500,000
Total	737,188
Less: current portion of long-term debt	13,750	$ 13,750
Less: unamortized debt issuance costs	8,030
Total long-term debt, net	$ 715,408	$ 231,946

SHAREHOLDERS' EQUITY - Narrative (Details)	Sep. 30, 2020 vote
Class of Stock [Line Items]
Proportion of directors that common stockholders are entitled to elect (as a percent)	25.00%
Common Stock
Class of Stock [Line Items]
Number of votes per share of common stock	1
Class B Common Stock
Class of Stock [Line Items]
Number of votes per share of common stock	10

ACCUMULATED OTHER COMPREHENSIVE LOSS - Summary (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	$ 5,146,327,000	$ 2,687,025,000	$ 3,005,146,000	$ 2,684,400,000
Other Comprehensive Income (Loss), Net of Tax	3,517,000	(3,334,000)	1,052,000	(3,195,000)
Balance at end of period	6,715,917,000	2,950,561,000	6,715,917,000	2,950,561,000
Tax provision (benefit) on accumulated other comprehensive loss	0	0	0	0
Foreign Currency Translation Adjustment attributable to Parent
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	(13,780,000)	(12,258,000)	(12,226,000)	(12,543,000)
Balance at end of period	(11,821,000)	(14,776,000)	(11,821,000)	(14,776,000)
Foreign Currency Translation Adjustment including portion attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	1,948,000	(2,499,000)	585,000	(2,223,000)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax			(144,000)	0
Other Comprehensive Income (Loss), Net of Tax			441,000	(2,223,000)
Foreign Currency Translation Adjustment attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Net of Tax	11,000	(19,000)	(36,000)	(10,000)
Unrealized Gains (Losses) on Available-for-Sale Debt Securities attributable to Parent
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	(1,000)		0	2,000
Balance at end of period	3,000	0	3,000	0
Unrealized Gains (Losses) on Available-for-Sale Debt Securities including Portion Attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	4,000		3,000	(2,000)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax			0	0
Other Comprehensive Income (Loss), Net of Tax			3,000	(2,000)
Unrealized Gains (Losses) on Available-for-Sale Debt Securities attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Net of Tax	0		0	0
Accumulated Other Comprehensive (Loss) Income attributable to Parent
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	(13,781,000)	(12,258,000)	(12,226,000)	(12,541,000)
Balance at end of period	(11,818,000)	(14,776,000)	(11,818,000)	(14,776,000)
Accumulated Other Comprehensive (Loss) Income including portion attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	1,952,000	(2,499,000)	588,000	(2,225,000)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax			(144,000)	0
Other Comprehensive Income (Loss), Net of Tax			444,000	(2,225,000)
Accumulated Other Comprehensive (Loss) Income attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss), Net of Tax	$ 11,000	$ (19,000)	$ (36,000)	$ (10,000)

EARNINGS (LOSS) PER SHARE - Summary (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator: Basic
Net earnings	$ 185,861	$ 18,378	$ (238,774)	$ 26,726
Net earnings attributable to noncontrolling interests	(944)	(1,912)	(625)	(10,718)
Net earnings attributable to IAC shareholders	184,917	16,466	(239,399)	16,008
Numerator: Diluted
Net earnings	185,861	18,378	(238,774)	26,726
Net earnings attributable to noncontrolling interests	(944)	(1,912)	(625)	(10,718)
Impact from publicly-traded subsidiaries' dilutive securities	(79)	0	(150)	0
Net earnings attributable to IAC shareholders	$ 184,838	$ 16,466	$ (239,549)	$ 16,008
Denominator: Basic
Weighted average basic shares outstanding (shares)	85,297	85,132	85,295	85,132
Denominator: Diluted
Weighted average basic shares outstanding (shares)	85,297	85,132	85,295	85,132
Dilutive securities (shares)	5,180	0	0	0
Denominator for earnings per share - weighted average shares (shares)	90,477	85,132	85,295	85,132
Earnings per share attributable to IAC shareholders: Basic
Earnings per share (USD per share)	$ 2.17	$ 0.19	$ (2.81)	$ 0.19
Earnings per share attributable to IAC shareholders: Diluted
Earnings per share (USD per share)	$ 2.04	$ 0.19	$ (2.81)	$ 0.19
Potentially dilutive securities excluded from calculation of diluted earnings per share (less than or equal to) (shares)	100		6,000

SEGMENT INFORMATION - Financial Data by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Revenue	$ 788,377	$ 705,382	$ 2,198,862	$ 2,035,287
Operating income (loss)	(128,626)	13,912	(547,983)	(34,041)
Operating segments \| ANGI Homeservices
Segment Reporting Information [Line Items]
Revenue	389,913	357,358	1,108,624	1,004,697
Operating income (loss)	(3,019)	24,726	(1,671)	32,488
Adjusted EBITDA	38,487	58,923	130,820	147,534
Operating segments \| Vimeo
Segment Reporting Information [Line Items]
Revenue	75,130	52,145	199,432	141,439
Operating income (loss)	(3,298)	(11,155)	(25,623)	(40,555)
Adjusted EBITDA	3,421	(7,997)	(12,706)	(33,661)
Operating segments \| Dotdash
Segment Reporting Information [Line Items]
Revenue	50,774	40,285	139,515	111,974
Operating income (loss)	11,773	3,695	21,860	13,752
Adjusted EBITDA	16,181	7,026	35,304	22,551
Operating segments \| Search
Segment Reporting Information [Line Items]
Revenue	145,208	185,664	430,890	575,608
Operating income (loss)	(52,979)	28,758	(264,761)	100,551
Adjusted EBITDA	11,875	29,177	34,449	101,982
Operating segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	127,425	69,988	320,594	201,820
Operating income (loss)	(35,123)	8,520	(61,979)	(21,259)
Adjusted EBITDA	(8,061)	(5,274)	(30,648)	(26,684)
Inter-segment eliminations
Segment Reporting Information [Line Items]
Revenue	(73)	(58)	(193)	(251)
Corporate
Segment Reporting Information [Line Items]
Operating income (loss)	(45,980)	(40,632)	(215,809)	(119,018)
Adjusted EBITDA	$ (26,733)	$ (21,943)	$ (115,315)	$ (60,735)

SEGMENT INFORMATION - Revenue Disaggregated by Service (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Revenue	$ 788,377	$ 705,382	$ 2,198,862	$ 2,035,287
Operating segments \| ANGI Homeservices
Segment Reporting Information [Line Items]
Revenue	389,913	357,358	1,108,624	1,004,697
Operating segments \| ANGI Homeservices \| North America
Segment Reporting Information [Line Items]
Revenue	372,226	339,144	1,053,775	945,538
Operating segments \| ANGI Homeservices \| North America \| Total Marketplace revenue
Segment Reporting Information [Line Items]
Revenue	306,707	273,462	858,656	755,253
Operating segments \| ANGI Homeservices \| North America \| Consumer connection revenue(a)
Segment Reporting Information [Line Items]
Revenue	287,568	252,552	800,047	695,370
Operating segments \| ANGI Homeservices \| North America \| Service professional membership subscription revenue
Segment Reporting Information [Line Items]
Revenue	12,195	15,995	38,989	48,697
Operating segments \| ANGI Homeservices \| North America \| Other revenue
Segment Reporting Information [Line Items]
Revenue	6,944	4,915	19,620	11,186
Operating segments \| ANGI Homeservices \| North America \| Advertising and other revenue
Segment Reporting Information [Line Items]
Revenue	65,519	65,682	195,119	190,285
Operating segments \| ANGI Homeservices \| Europe
Segment Reporting Information [Line Items]
Revenue	17,687	18,214	54,849	59,159
Operating segments \| ANGI Homeservices \| Europe \| Advertising and other revenue
Segment Reporting Information [Line Items]
Revenue	403	624	1,417	1,859
Operating segments \| ANGI Homeservices \| Europe \| Consumer connection
Segment Reporting Information [Line Items]
Revenue	14,006	14,125	43,640	46,480
Operating segments \| ANGI Homeservices \| Europe \| Service professional membership subscription revenue
Segment Reporting Information [Line Items]
Revenue	3,278	3,465	9,792	10,820
Operating segments \| Vimeo
Segment Reporting Information [Line Items]
Revenue	75,130	52,145	199,432	141,439
Operating segments \| Vimeo \| Platform revenue
Segment Reporting Information [Line Items]
Revenue	75,130	52,145	199,432	139,160
Operating segments \| Vimeo \| Hardware revenue
Segment Reporting Information [Line Items]
Revenue	0	0	0	2,279
Operating segments \| Dotdash
Segment Reporting Information [Line Items]
Revenue	50,774	40,285	139,515	111,974
Operating segments \| Dotdash \| Total advertising revenue
Segment Reporting Information [Line Items]
Revenue	31,836	29,158	88,326	84,171
Operating segments \| Dotdash \| Performance marketing revenue
Segment Reporting Information [Line Items]
Revenue	18,938	11,127	51,189	27,803
Operating segments \| Search
Segment Reporting Information [Line Items]
Revenue	145,208	185,664	430,890	575,608
Operating segments \| Search \| Total advertising revenue
Segment Reporting Information [Line Items]
Revenue	141,009	181,931	417,796	563,282
Operating segments \| Search \| Google advertising revenue
Segment Reporting Information [Line Items]
Revenue	120,838	168,574	352,918	534,389
Operating segments \| Search \| Non-Google advertising revenue
Segment Reporting Information [Line Items]
Revenue	20,171	13,357	64,878	28,893
Operating segments \| Search \| Other revenue
Segment Reporting Information [Line Items]
Revenue	4,199	3,733	13,094	12,326
Operating segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	127,425	69,988	320,594	201,820
Operating segments \| Emerging & Other \| Total Marketplace revenue
Segment Reporting Information [Line Items]
Revenue	35,476	10,399	83,711	30,288
Operating segments \| Emerging & Other \| Total advertising revenue
Segment Reporting Information [Line Items]
Revenue	5,114	6,706	12,674	19,485
Operating segments \| Emerging & Other \| Google advertising revenue
Segment Reporting Information [Line Items]
Revenue	859	1,002	2,204	3,030
Operating segments \| Emerging & Other \| Non-Google advertising revenue
Segment Reporting Information [Line Items]
Revenue	4,255	5,704	10,470	16,455
Operating segments \| Emerging & Other \| Subscription revenue
Segment Reporting Information [Line Items]
Revenue	84,369	50,081	217,974	141,759
Operating segments \| Emerging & Other \| Other revenue
Segment Reporting Information [Line Items]
Revenue	$ 2,466	$ 2,802	$ 6,235	$ 10,288

SEGMENT INFORMATION - Geographic Information about Revenue and Long-Lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Revenue and long-lived assets by geography
Revenue	$ 788,377	$ 705,382	$ 2,198,862	$ 2,035,287
Long-lived assets (excluding goodwill and intangible assets)	265,818		265,818		$ 305,414
United States
Revenue and long-lived assets by geography
Revenue	638,474	552,106	1,763,585	1,572,540
Long-lived assets (excluding goodwill and intangible assets)	254,869		254,869		297,433
All other countries
Revenue and long-lived assets by geography
Revenue	149,903	$ 153,276	435,277	$ 462,747
Long-lived assets (excluding goodwill and intangible assets)	$ 10,949		$ 10,949		$ 7,981

- 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
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: 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 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 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: 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 8: 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 9: 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 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-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 - Reconciliation of Operating Income (Loss) to Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Segment Reporting, Other Significant Reconciling Item [Line Items]
Operating (loss) income	$ (128,626)	$ 13,912	$ (547,983)	$ (34,041)
Stock-Based Compensation Expense	31,719	24,585	148,597	94,867
Depreciation	18,753	15,009	50,849	39,042
Amortization of Intangibles	60,151	22,545	132,213	64,112
Goodwill Impairment	53,173	0	265,146	0	$ 3,318
Interest expense	(5,807)	(2,898)	(9,579)	(9,402)
Other income (expense), net	290,786	(11,715)	211,769	16,850
Earnings (loss) before income taxes	156,353	(701)	(345,793)	(26,593)
Income tax benefit	29,508	19,079	107,019	53,319
Net earnings (loss)	185,861	18,378	(238,774)	26,726
Net earnings attributable to noncontrolling interests	(944)	(1,912)	(625)	(10,718)
Net earnings (loss) attributable to IAC shareholders	184,917	16,466	(239,399)	16,008
ANGI Homeservices
Segment Reporting, Other Significant Reconciling Item [Line Items]
Goodwill Impairment			0		0
Search
Segment Reporting, Other Significant Reconciling Item [Line Items]
Goodwill Impairment			265,146		0
Emerging & Other
Segment Reporting, Other Significant Reconciling Item [Line Items]
Goodwill Impairment			0		$ 3,318
Operating segments \| ANGI Homeservices
Segment Reporting, Other Significant Reconciling Item [Line Items]
Operating (loss) income	(3,019)	24,726	(1,671)	32,488
Stock-Based Compensation Expense	14,697	8,784	55,031	45,586
Depreciation	13,921	11,244	38,614	27,039
Amortization of Intangibles	12,888	14,169	38,846	42,421
Acquisition-related Contingent Consideration Fair Value Adjustments	0	0	0	0
Goodwill Impairment	0		0
Adjusted EBITDA	38,487	58,923	130,820	147,534
Operating segments \| Vimeo
Segment Reporting, Other Significant Reconciling Item [Line Items]
Operating (loss) income	(3,298)	(11,155)	(25,623)	(40,555)
Stock-Based Compensation Expense	0	0	0	0
Depreciation	106	39	266	364
Amortization of Intangibles	6,613	3,119	12,651	6,530
Acquisition-related Contingent Consideration Fair Value Adjustments	0	0	0	0
Goodwill Impairment	0		0
Adjusted EBITDA	3,421	(7,997)	(12,706)	(33,661)
Operating segments \| Dotdash
Segment Reporting, Other Significant Reconciling Item [Line Items]
Operating (loss) income	11,773	3,695	21,860	13,752
Stock-Based Compensation Expense	0	0	0	0
Depreciation	742	216	1,569	660
Amortization of Intangibles	3,666	3,115	11,875	8,139
Acquisition-related Contingent Consideration Fair Value Adjustments	0	0	0	0
Goodwill Impairment	0		0
Adjusted EBITDA	16,181	7,026	35,304	22,551
Operating segments \| Search
Segment Reporting, Other Significant Reconciling Item [Line Items]
Operating (loss) income	(52,979)	28,758	(264,761)	100,551
Stock-Based Compensation Expense	0	0	0	0
Depreciation	881	419	1,864	1,431
Amortization of Intangibles	10,800	0	32,200	0
Acquisition-related Contingent Consideration Fair Value Adjustments	0	0	0	0
Goodwill Impairment	53,173		265,146
Adjusted EBITDA	11,875	29,177	34,449	101,982
Operating segments \| Emerging & Other
Segment Reporting, Other Significant Reconciling Item [Line Items]
Operating (loss) income	(35,123)	8,520	(61,979)	(21,259)
Stock-Based Compensation Expense	25	0	75	0
Depreciation	853	203	1,533	546
Amortization of Intangibles	26,184	2,142	36,641	7,022
Acquisition-related Contingent Consideration Fair Value Adjustments	0	(16,139)	(6,918)	(12,993)
Goodwill Impairment	0		0
Adjusted EBITDA	(8,061)	(5,274)	(30,648)	(26,684)
Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Operating (loss) income	(45,980)	(40,632)	(215,809)	(119,018)
Stock-Based Compensation Expense	16,997	15,801	93,491	49,281
Depreciation	2,250	2,888	7,003	9,002
Amortization of Intangibles	0	0	0	0
Acquisition-related Contingent Consideration Fair Value Adjustments	0	0	0	0
Goodwill Impairment	0		0
Adjusted EBITDA	$ (26,733)	$ (21,943)	$ (115,315)	$ (60,735)

FINANCIAL STATEMENT DETAILS - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 3,471,713	$ 839,796	$ 685,965	$ 884,975
Restricted cash included in other current assets	12,711	527	1,445	1,441
Restricted cash included in other non-current assets	429	409	404	420
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$ 3,484,853	$ 840,732	$ 687,814	$ 886,836

FINANCIAL STATEMENT DETAILS - Accumulated Amortization and Depreciation (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Depreciation, Depletion and Amortization [Abstract]
Right-of-use assets included in other non-current assets	$ 65,409	$ 35,775
Building, capitalized software, leasehold improvements and equipment, net	217,069	201,798
Intangible assets	$ 268,454	$ 201,454

FINANCIAL STATEMENT DETAILS - Other (Expense) Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Condensed Income Statements, Captions [Line Items]
Unrealized gains (loss) related to investments	$ 289,097		$ (4,576)	$ 264,379	$ 25,322
Interest income	971		3,697	6,557	11,930
Realized gain related to the sale of an investment	2,671		0	2,671	0
Impairments related to impact of COVID-19	0		0	(59,001)	0
Unrealized reduction in the estimated fair value of a warrant	(2,331)		(8,689)	(1,741)	(8,689)
Realized loss related to the sale of Vimeo's hardware business	0		0	0	(8,234)
Mark-to-market loss on an indemnification claim related to the Handy acquisition	0		(945)	(181)	(1,999)
Other	378		(1,202)	(915)	(1,480)
Other income (expense), net	290,786		(11,715)	211,769	16,850
Impairment of equity securities without readily determinable fair value	51,500	$ 51,500		51,500
Impairment of note receivable and warrant		$ 7,500
MGM
Condensed Income Statements, Captions [Line Items]
Unrealized gains (loss) related to investments	$ (289,100)			$ (264,400)
Pinterest
Condensed Income Statements, Captions [Line Items]
Unrealized gains (loss) related to investments			$ (4,600)		$ 25,300

CONTINGENCIES - Narrative (Details)		1 Months Ended
CONTINGENCIES - Narrative (Details)	Aug. 31, 2018 plaintiff	Aug. 31, 2018 USD ($) plaintiff	Sep. 30, 2020 USD ($) lawsuit
Loss Contingencies [Line Items]
Loss contingency reserve \| $			$ 0
Number of lawsuits with possible material impact (one or more) \| lawsuit			1
Tinder Optionholder Litigation
Loss Contingencies [Line Items]
Number of plaintiffs \| plaintiff	6	10
Number of plaintiffs who filed a notice of discontinuance of their claims without prejudice \| plaintiff	4
Tinder Optionholder Litigation \| Pending Litigation \| Minimum
Loss Contingencies [Line Items]
Damages sought \| $		$ 2,000,000,000

RELATED PARTY TRANSACTIONS - Narrative (Details) shares in Millions		3 Months Ended			6 Months Ended	9 Months Ended		12 Months Ended
	Jan. 31, 2020 office_building	Sep. 30, 2020 USD ($) shares	Sep. 30, 2019 USD ($) shares	Mar. 31, 2019 USD ($)	Jun. 30, 2020 USD ($) shares	Sep. 30, 2020 USD ($) aircraft shares	Sep. 30, 2019 USD ($) shares	Dec. 31, 2019 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2018 USD ($)	Dec. 14, 2018 USD ($)
Related Party Transaction [Line Items]
Notes receivable from related parties								$ 55,300,000	$ 27,200,000
IAC
Related Party Transaction [Line Items]
Allocated costs from related party			$ 46,600,000			$ 85,500,000	$ 119,000,000.0
Interest income from related party (less than)			200,000			100,000	200,000
Outstanding payables due (less than)										$ 2,500,000	$ 15,000,000.0
Expenses from transactions with related party			30,911,000		$ 12,652,000		69,870,000
ANGI \| Services Agreement
Related Party Transaction [Line Items]
Due from (to) related party		$ 0				0
ANGI \| Leased Office Space
Related Party Transaction [Line Items]
Expenses from transactions with related party			1,500,000			$ 1,400,000	4,400,000
ANGI \| Sold Office Space
Related Party Transaction [Line Items]
Expenses from transactions with related party					$ 100,000
Number of office buildings transferred to related party \| office_building	2
Other Affiliates \| Corporate Aircraft Purchase Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party								23,000,000
Proportion of ownership interest held each by entity and by related party in aircraft employing flight crew (as a percent)		50.00%				50.00%
Number of aircraft operated \| aircraft						2
Proportion of total purchase price and refurbish costs paid in related party transaction (as a percent)						50.00%
Expected costs from transactions with related party		$ 72,300,000				$ 72,300,000
Proportion of ownership interest held each by entity and by related party in another entity employing flight crew (as a percent)		50.00%				50.00%
ANGI Homeservices \| New IAC \| Services Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party		$ 1,300,000	1,000,000.0			$ 3,600,000	3,700,000
ANGI Homeservices \| New IAC \| Tax Sharing Agreement
Related Party Transaction [Line Items]
Outstanding payables due (less than)		600,000				600,000		$ 200,000
Refunds paid to related party						3,100,000
Expenses from transactions with related party		0		$ 11,400,000
ANGI Homeservices \| New IAC \| Leased Office Space
Related Party Transaction [Line Items]
Outstanding payables due (less than)		100,000	100,000			100,000	100,000
Expenses from transactions with related party		$ 500,000	$ 500,000			$ 1,400,000	$ 1,000,000.0
Class B Common Stock \| ANGI Homeservices \| ANGI \| Employee Matters Agreement
Related Party Transaction [Line Items]
Stock received from related party (shares) \| shares		0.1	0.1			0.3	0.5
Common Stock \| ANGI \| Sold Office Space
Related Party Transaction [Line Items]
Noncash financial or equity instrument consideration (in shares) \| shares					1.4

RELATED PARTY TRANSACTIONS - Components of Net Increase (Decrease) in IAC Investment in IAC Holdings (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Related Party Transaction [Line Items]
Taxes	$ 29,508	$ 19,079		$ 107,019	$ 53,319
IAC
Related Party Transaction [Line Items]
Cash transfers from Old IAC related to its centrally managed U.S. treasury management function, acquisitions and cash expenses paid by Old IAC on behalf of the Company, net		(246,652)	$ (1,742,854)		(154,754)
Contribution of buildings to Match Group		0	(34,973)		0
Taxes		18,876	34,436		(125)
Allocation of costs from Old IAC		30,911	12,652		69,870
Interest income, net		189	102		189
Net increase in Old IAC's investment in the Company prior to the Separation		$ (258,498)	$ (1,685,995)		$ (224,560)

- Definition

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

+ References + Details

SUBSEQUENT EVENTS (Details) - Subsequent Event - USD ($)	Nov. 05, 2020	Nov. 05, 2023
Subsequent Event [Line Items]
Term of employment agreement and restricted stock agreement (in years)	10 years
Chief Executive Officer
Subsequent Event [Line Items]
Annual base salary	$ 1,000,000
Chief Executive Officer \| RSA Agreement \| Restricted Stock Awards
Subsequent Event [Line Items]
Shares authorized for issuance (in shares)		3,000,000
Vesting period (in years)	10 years
Vimeo
Subsequent Event [Line Items]
Proceeds from Investors, spin-off arrangement	$ 150,000,000
Segment valuation		$ 2,750,000,000