0001800227-21-000021 | 10-Q | XBRL Viewer

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Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2021	Jul. 30, 2021
Document Information [Line Items]
Entity Central Index Key	0001800227
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
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 $0.0001
Trading Symbol	IAC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large 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		83,445,032
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		5,789,499

CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 3,476,071	$ 3,366,176
Marketable securities	10,810	224,979
Accounts receivable, net	256,134	257,668
Other current assets	145,752	140,022
Current assets of discontinued operations	0	130,477
Total current assets	3,888,767	4,119,322
Building, capitalized software, leasehold improvements and equipment, net	273,555	274,930
Goodwill	1,636,822	1,660,102
Intangible assets, net	363,480	394,986
Investment in MGM Resorts International	2,517,796	1,860,158
Long-term investments	305,589	297,643
Other non-current assets	302,567	288,021
Non-current assets of discontinued operations	0	266,547
TOTAL ASSETS	9,288,576	9,161,709
LIABILITIES:
Accounts payable, trade	116,230	88,849
Deferred revenue	148,048	137,658
Accrued expenses and other current liabilities	378,398	340,406
Current liabilities of discontinued operations	0	183,988
Total current liabilities	642,676	750,901
Long-term debt, net	494,195	712,277
Income taxes payable	295	6,444
Deferred income taxes	171,800	78,789
Other long-term liabilities	210,269	227,406
Non-current liabilities of discontinued operations	0	2,972
Redeemable noncontrolling interests	24,193	231,992
Commitments and contingencies
SHAREHOLDERS' EQUITY:
Additional paid-in-capital	6,341,667	5,909,614
Retained earnings	831,489	694,042
Accumulated other comprehensive income (loss)	5,686	(6,170)
Total IAC shareholders' equity	7,178,851	6,597,575
Noncontrolling interests	566,297	553,353
Total shareholders' equity	7,745,148	7,150,928
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	9,288,576	9,161,709
Common Stock, $0.0001 par value; authorized 1,600,000 shares; 8,344 and 0 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively
SHAREHOLDERS' EQUITY:
Common stock, value	8	0
Class B common stock, $0.0001 par value; authorized 400,000 shares; 579 and 0 shares issued and outstanding at June 30, 2021 and December 31, 2020 , respectively
SHAREHOLDERS' EQUITY:
Common stock, value	1	0
Common Stock, $0.001 par value; authorized 1,600,000 shares; 0 and 82,976 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively
SHAREHOLDERS' EQUITY:
Common stock, value	0	83
Class B common stock, $0.001 par value; authorized 400,000 shares; 0 and 5,789 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively
SHAREHOLDERS' EQUITY:
Common stock, value	$ 0	$ 6

CONSOLIDATED BALANCE SHEET (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Common Stock, $0.0001 par value; authorized 1,600,000 shares; 8,344 and 0 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001
Common stock authorized (in shares)	1,600,000,000	1,600,000,000
Common stock issued (in shares)	8,344,000	0
Common stock outstanding (in shares)	8,344,000	0
Class B common stock, $0.0001 par value; authorized 400,000 shares; 579 and 0 shares issued and outstanding at June 30, 2021 and December 31, 2020 , respectively
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001
Common stock authorized (in shares)	400,000,000	400,000,000
Common stock issued (in shares)	579,000	0
Common stock outstanding (in shares)	579,000	0
Common Stock, $0.001 par value; authorized 1,600,000 shares; 0 and 82,976 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively
Common stock, par value (USD per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	1,600,000,000	1,600,000,000
Common stock issued (in shares)	0	82,976,000
Common stock outstanding (in shares)	0	82,976,000
Class B common stock, $0.001 par value; authorized 400,000 shares; 0 and 5,789 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively
Common stock, par value (USD per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	400,000,000	400,000,000
Common stock issued (in shares)	0	5,789,000
Common stock outstanding (in shares)	0	5,789,000

CONSOLIDATED AND COMBINED STATEMENT OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue	$ 829,547	$ 659,027	$ 1,616,117	$ 1,286,243
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	250,207	155,846	471,024	316,966
Selling and marketing expense	341,035	282,645	653,573	566,162
General and administrative expense	174,711	231,753	337,871	393,070
Product development expense	61,266	46,338	122,526	93,450
Depreciation	17,112	16,502	36,298	31,936
Amortization of intangibles	13,636	23,388	30,475	66,024
Goodwill impairment	0	0	0	211,973
Total operating costs and expenses	857,967	756,472	1,651,767	1,679,581
Operating loss	(28,420)	(97,445)	(35,650)	(393,338)
Interest expense	(5,814)	(1,555)	(12,431)	(3,772)
Unrealized gain on investment in MGM Resorts International	275,098	(24,718)	657,638	(24,718)
Other income (expense), net	50,286	3,311	53,849	(54,077)
Earnings (loss) from continuing operations before income taxes	291,150	(120,407)	663,406	(475,905)
Income tax (provision) benefit	(87,825)	34,403	(141,136)	71,380
Net earnings (loss) from continuing operations	203,325	(86,004)	522,270	(404,525)
Loss from discontinued operations, net of tax	(11,787)	(8,060)	(1,831)	(20,110)
Net earnings (loss)	191,538	(94,064)	520,439	(424,635)
Net loss (earnings) attributable to noncontrolling interests	3,219	(2,053)	3,446	319
Net earnings (loss) attributable to IAC shareholders	$ 194,757	$ (96,117)	$ 523,885	$ (424,316)
Per share information from continuing operations:
Basic earnings (loss) per share (USD per share)	$ 2.31	$ (1.04)	$ 5.91	$ (4.75)
Diluted earnings (loss) per share (USD per share)	2.14	(1.04)	5.49	(4.75)
Per share information attributable to IAC Common Stock and Class B common stock shareholders:
Basic earnings (loss) per share (USD per share)	2.18	(1.13)	5.88	(4.98)
Diluted earnings (loss) per share (USD per share)	$ 2.02	$ (1.13)	$ 5.47	$ (4.98)
Stock-based compensation expense by function:
Stock-based compensation expense	$ 24,051	$ 77,861	$ 42,366	$ 113,240
Cost of revenue
Stock-based compensation expense by function:
Stock-based compensation expense	22	90	34	103
Selling and marketing expense
Stock-based compensation expense by function:
Stock-based compensation expense	1,101	957	2,317	2,076
General and administrative expense
Stock-based compensation expense by function:
Stock-based compensation expense	21,189	75,685	36,933	108,151
Product development expense
Stock-based compensation expense by function:
Stock-based compensation expense	$ 1,739	$ 1,129	$ 3,082	$ 2,910

CONSOLIDATED AND COMBINED STATEMENT OF COMPREHENSIVE OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 191,538	$ (94,064)	$ 520,439	$ (424,635)
Other comprehensive income (loss), net of income taxes:
Change in foreign currency translation adjustment	1,803	4,166	12,820	(2,464)
Change in unrealized gains and losses on available-for-sale marketable debt securities	0	11	(2)	(1)
Total other comprehensive income (loss), net of income taxes	1,803	4,177	12,818	(2,465)
Comprehensive income (loss), net of income taxes	193,341	(89,887)	533,257	(427,100)
Components of comprehensive loss (income) attributable to noncontrolling interests:
Net loss (earnings) attributable to noncontrolling interests	3,219	(2,053)	3,446	319
Change in foreign currency translation adjustment attributable to noncontrolling interests	(260)	(22)	(951)	957
Comprehensive loss (income) attributable to noncontrolling interests	2,959	(2,075)	2,495	1,276
Comprehensive income (loss) attributable to IAC shareholders	$ 196,300	$ (91,962)	$ 535,752	$ (425,824)

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Angi Inc.	Vimeo	Redeemable Noncontrolling Interests	Redeemable Noncontrolling Interests Vimeo	Total IAC Shareholders' Equity	Total IAC Shareholders' Equity Angi Inc.	Total IAC Shareholders' Equity Vimeo	Common Stock Common Stock, $0.0001 par value	Common Stock Class B common stock, $0.0001 par value	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 Inc.	Additional Paid-in-Capital Vimeo	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Angi Inc.	Noncontrolling Interests	Noncontrolling Interests Angi Inc.
Balance at beginning of period at Dec. 31, 2019				$ 43,818
Increase (Decrease) in Redeemable Noncontrolling Interests
Net earnings (loss)				(1,205)
Other comprehensive (loss) income, net of income taxes				(687)
Distribution to and purchase of noncontrolling interests				(3,165)
Adjustment of noncontrolling interests to fair value				4,807
Balance at end of period at Jun. 30, 2020				43,583
Balance at beginning of period at Dec. 31, 2019	$ 3,005,146										$ 0	$ 0	$ 0				$ (12,226)		$ 470,121
Balance at beginning of period (shares) at Dec. 31, 2019											0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(423,430)																		886
Other comprehensive (loss) income, net of income taxes	(1,778)																(1,508)		(270)
Stock-based compensation expense	113,709																		40,818
Purchase of Angi Inc. treasury stock		$ (54,859)
Adjustment of redeemable noncontrolling interests to fair value	(4,807)
Balance at end of period at Jun. 30, 2020	5,146,327										$ 79	$ 6	4,661,231				(13,781)		498,792
Balance at end of period (shares) at Jun. 30, 2020											79,343	5,789
Balance at beginning of period at Mar. 31, 2020				42,152
Increase (Decrease) in Redeemable Noncontrolling Interests
Net earnings (loss)				(173)
Other comprehensive (loss) income, net of income taxes				(786)
Adjustment of noncontrolling interests to fair value				2,389
Other				1
Balance at end of period at Jun. 30, 2020				43,583
Balance at beginning of period at Mar. 31, 2020	4,396,852										$ 0	$ 0	0				(17,926)		479,612
Balance at beginning of period (shares) at Mar. 31, 2020											0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(93,891)																		2,226
Other comprehensive (loss) income, net of income taxes	4,963																4,155		808
Stock-based compensation expense	80,109																		18,607
Purchase of Angi Inc. treasury stock		(15,888)
Adjustment of redeemable noncontrolling interests to fair value	(2,389)
Balance at end of period at Jun. 30, 2020	5,146,327										$ 79	$ 6	4,661,231				(13,781)		498,792
Balance at end of period (shares) at Jun. 30, 2020											79,343	5,789
Balance at beginning of period at Dec. 31, 2020	231,992			231,992
Increase (Decrease) in Redeemable Noncontrolling Interests
Net earnings (loss)				709
Other comprehensive (loss) income, net of income taxes				589
Issuance of Vimeo common stock and creation of noncontrolling interests, net of fees					$ 40,785
Distribution to and purchase of noncontrolling interests				(24,085)
Adjustment of noncontrolling interests to fair value				776,531
Elimination of Vimeo noncontrolling interest	(1,002,324)
Other				(4)
Balance at end of period at Jun. 30, 2021	24,193			24,193
Balance at beginning of period at Dec. 31, 2020	7,150,928					$ 6,597,575			$ 0	$ 0	$ 83	$ 6	5,909,614			$ 694,042	(6,170)		553,353
Balance at beginning of period (shares) at Dec. 31, 2020									0	0	82,976	5,789
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	519,730					523,885										523,885			(4,155)
Other comprehensive (loss) income, net of income taxes	12,191					11,829											11,829		362
Stock-based compensation expense	53,308					39,288							39,288						14,020
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(29,074)	(54,741)				(29,074)	$ (57,458)						(29,074)	$ (57,447)				$ (11)		$ 2,717
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (in shares)									8		382
Purchase of Angi Inc. treasury stock		(5,637)					(5,637)							(5,637)
Issuance of Vimeo common stock and creation of noncontrolling interests, net of fees			$ 258,965					$ 258,965							$ 258,965
Adjustment of redeemable noncontrolling interests to fair value	(776,531)					(776,531)							(776,531)
Recapitalization of IAC upon Vimeo spin-off									$ 8	$ 1	$ (83)	$ (6)	80
Recapitalization of IAC upon Vimeo spin-off (in shares)									8,336	579	(83,358)	(5,789)
Spin-off of IAC's investment in Vimeo	(386,438)					(386,438)							(38)			(386,438)	38
Elimination of Vimeo noncontrolling interest	1,002,324					1,002,324							1,002,324
Other	123					123							123
Balance at end of period at Jun. 30, 2021	7,745,148					7,178,851			$ 8	$ 1	$ 0	$ 0	6,341,667			831,489	5,686		566,297
Balance at end of period (shares) at Jun. 30, 2021									8,344	579	0	0
Balance at beginning of period at Mar. 31, 2021				702,841
Increase (Decrease) in Redeemable Noncontrolling Interests
Net earnings (loss)				1,382
Other comprehensive (loss) income, net of income taxes				9
Distribution to and purchase of noncontrolling interests				(1,147)
Adjustment of noncontrolling interests to fair value				323,432
Elimination of Vimeo noncontrolling interest	(1,002,324)
Balance at end of period at Jun. 30, 2021	24,193			$ 24,193
Balance at beginning of period at Mar. 31, 2021	7,246,020					6,688,138			$ 0	$ 0	$ 83	$ 6	5,660,730			1,023,170	4,149		557,882
Balance at beginning of period (shares) at Mar. 31, 2021									0	0	83,342	5,789
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	190,156					194,757										194,757			(4,601)
Other comprehensive (loss) income, net of income taxes	1,756					1,505											1,505		251
Stock-based compensation expense	30,098					18,620							18,620						11,478
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(7,939)	(6,690)				(7,939)	(7,977)						(7,939)	(7,971)				$ (6)		$ 1,287
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (in shares)									8		16
Purchase of Angi Inc. treasury stock		$ (721)					$ (721)							$ (721)
Adjustment of redeemable noncontrolling interests to fair value	(323,432)					(323,432)							(323,432)
Recapitalization of IAC upon Vimeo spin-off									$ 8	$ 1	$ (83)	$ (6)	80
Recapitalization of IAC upon Vimeo spin-off (in shares)									8,336	579	(83,358)	(5,789)
Spin-off of IAC's investment in Vimeo	(386,438)					(386,438)							(38)			(386,438)	38
Elimination of Vimeo noncontrolling interest	1,002,324					1,002,324							1,002,324
Other	14					14							14
Balance at end of period at Jun. 30, 2021	$ 7,745,148					$ 7,178,851			$ 8	$ 1	$ 0	$ 0	$ 6,341,667			$ 831,489	$ 5,686		$ 566,297
Balance at end of period (shares) at Jun. 30, 2021									8,344	579	0	0

COMBINED STATEMENT OF PARENT'S EQUITY AND CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Angi Inc.	Redeemable Noncontrolling Interests	Total IAC Invested Equity and Shareholders' Equity	Total IAC Invested Equity and Shareholders' Equity Angi Inc.	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 Inc.	Invested Capital	Invested Capital Angi Inc.	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Angi Inc.	Noncontrolling Interests	Noncontrolling Interests Angi Inc.
Balance at beginning of period at Dec. 31, 2019			$ 43,818
Increase (Decrease) in Redeemable Noncontrolling Interests
Net earnings (loss)			(1,205)
Other comprehensive (loss) income, net of income taxes			(687)
Stock-based compensation expense			15
Distribution to and purchase of noncontrolling interests			(3,165)
Adjustment of noncontrolling interests to fair value			4,807
Balance at end of period at Jun. 30, 2020			43,583
Balance at beginning of period at Dec. 31, 2019	$ 3,005,146			$ 2,535,025		$ 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 earnings (loss)	(423,430)			(424,316)						(424,316)				886
Other comprehensive (loss) income, net of income taxes	(1,778)			(1,508)								(1,508)		(270)
Stock-based compensation expense	113,709			72,891						72,891				40,818
Adjustment of redeemable noncontrolling interests to fair value	(4,807)			(4,807)						(4,807)
Issuance of Angi Inc. common stock pursuant to stock-based awards, net of withholding taxes		$ (11,562)			$ 1,201						$ 1,248		$ (47)		$ (12,763)
Purchase of Angi Inc. treasury stock		(54,859)			(54,859)						(54,859)
Net increase (decrease) in Old IAC's investment in IAC Holdings, Inc.	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 merger	0					$ 79	$ 6	4,661,231		(4,661,316)
Capitalization as a result of merger (shares)						79,343	5,789
Balance at end of period at Jun. 30, 2020	5,146,327			4,647,535		$ 79	$ 6	4,661,231		0		(13,781)		498,792
Balance at end of period (shares) at Jun. 30, 2020						79,343	5,789
Balance at beginning of period at Mar. 31, 2020			42,152
Increase (Decrease) in Redeemable Noncontrolling Interests
Net earnings (loss)			(173)
Other comprehensive (loss) income, net of income taxes			(786)
Adjustment of noncontrolling interests to fair value			2,389
Other			1
Balance at end of period at Jun. 30, 2020			43,583
Balance at beginning of period at Mar. 31, 2020	4,396,852			3,917,240		$ 0	$ 0	0		3,935,166		(17,926)		479,612
Balance at beginning of period (shares) at Mar. 31, 2020						0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(93,891)			(96,117)						(96,117)				2,226
Other comprehensive (loss) income, net of income taxes	4,963			4,155								4,155		808
Stock-based compensation expense	80,109			61,502						61,502				18,607
Adjustment of redeemable noncontrolling interests to fair value	(2,389)			(2,389)						(2,389)
Issuance of Angi Inc. common stock pursuant to stock-based awards, net of withholding taxes		(8,219)			(5,758)						(5,748)		$ (10)		$ (2,461)
Purchase of Angi Inc. treasury stock		(15,888)			$ (15,888)						$ (15,888)
Net increase (decrease) in Old IAC's investment in IAC Holdings, Inc.	(53,123)			(53,123)						(53,123)
Cash merger consideration paid by Old IAC in connection with the Separation	837,913			837,913						837,913
Capitalization as a result of merger	0					$ 79	$ 6	4,661,231		(4,661,316)
Capitalization as a result of merger (shares)						79,343	5,789
Balance at end of period at Jun. 30, 2020	5,146,327			$ 4,647,535		$ 79	$ 6	4,661,231		$ 0		(13,781)		498,792
Balance at end of period (shares) at Jun. 30, 2020						79,343	5,789
Balance at beginning of period at Dec. 31, 2020	231,992		231,992
Increase (Decrease) in Redeemable Noncontrolling Interests
Net earnings (loss)			709
Other comprehensive (loss) income, net of income taxes			589
Distribution to and purchase of noncontrolling interests			(24,085)
Adjustment of noncontrolling interests to fair value			776,531
Other			(4)
Balance at end of period at Jun. 30, 2021	24,193		24,193
Balance at beginning of period at Dec. 31, 2020	7,150,928					$ 83	$ 6	5,909,614				(6,170)		553,353
Balance at beginning of period (shares) at Dec. 31, 2020						82,976	5,789
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	519,730													(4,155)
Other comprehensive (loss) income, net of income taxes	12,191											11,829		362
Stock-based compensation expense	53,308							39,288						14,020
Adjustment of redeemable noncontrolling interests to fair value	(776,531)							(776,531)
Purchase of Angi Inc. treasury stock		(5,637)							$ (5,637)
Balance at end of period at Jun. 30, 2021	7,745,148					$ 0	$ 0	6,341,667				5,686		566,297
Balance at end of period (shares) at Jun. 30, 2021						0	0
Balance at beginning of period at Mar. 31, 2021			702,841
Increase (Decrease) in Redeemable Noncontrolling Interests
Net earnings (loss)			1,382
Other comprehensive (loss) income, net of income taxes			9
Distribution to and purchase of noncontrolling interests			(1,147)
Adjustment of noncontrolling interests to fair value			323,432
Balance at end of period at Jun. 30, 2021	24,193		$ 24,193
Balance at beginning of period at Mar. 31, 2021	7,246,020					$ 83	$ 6	5,660,730				4,149		557,882
Balance at beginning of period (shares) at Mar. 31, 2021						83,342	5,789
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	190,156													(4,601)
Other comprehensive (loss) income, net of income taxes	1,756											1,505		251
Stock-based compensation expense	30,098							18,620						11,478
Adjustment of redeemable noncontrolling interests to fair value	(323,432)							(323,432)
Purchase of Angi Inc. treasury stock		$ (721)							$ (721)
Balance at end of period at Jun. 30, 2021	$ 7,745,148					$ 0	$ 0	$ 6,341,667				$ 5,686		$ 566,297
Balance at end of period (shares) at Jun. 30, 2021						0	0

CONSOLIDATED AND COMBINED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities attributable to continuing operations:
Net earnings (loss)	$ 520,439	$ (424,635)
Less: Loss from discontinued operations, net of tax	(1,831)	(20,110)
Net earnings (loss) from continuing operations	522,270	(404,525)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities attributable to continuing operations:
Stock-based compensation expense	42,366	113,240
Amortization of intangibles	30,475	66,024
Depreciation	36,298	31,936
Provision for credit losses	42,710	40,278
Goodwill impairment	0	211,973
Deferred income taxes	143,646	(43,557)
Unrealized gain (loss) on investment in MGM Resorts International	(657,638)	24,718
(Gains) losses on investments in equity securities, net	(12,167)	51,473
Unrealized (increase) decrease in the estimated fair value of a warrant	(55,256)	1,416
Other adjustments, net	31,585	7,890
Changes in assets and liabilities, net of effects of acquisitions and dispositions:
Accounts receivable	(40,671)	(41,024)
Other assets	38,844	(10,746)
Accounts payable and other liabilities	47,797	7,054
Income taxes payable and receivable	(8,550)	(5,302)
Deferred revenue	15,276	15,450
Net cash provided by operating activities attributable to continuing operations	176,985	66,298
Cash flows from investing activities attributable to continuing operations:
Acquisitions, net of cash acquired	0	(529,272)
Capital expenditures	(39,425)	(26,994)
Proceeds from maturities of marketable debt securities	225,000	50,000
Purchases of marketable debt securities	0	(74,972)
Cash distribution related to the Spin-off of IAC's investment in Vimeo	(333,184)	0
Net proceeds from the sale of businesses and investments	2,151	14,784
Purchases of investment in MGM Resorts International	0	(414,514)
Purchases of investments	(7,179)	0
Decrease in notes receivable—related party	0	54,828
Other, net	(1,283)	(7,137)
Net cash used in investing activities attributable to continuing operations	(153,920)	(933,277)
Cash flows from financing activities attributable to continuing operations:
Principal payments on ANGI Group Term Loan	(220,000)	(6,875)
Purchase of Angi Inc. treasury stock	(5,637)	(54,400)
Purchase of noncontrolling interests	(24,085)	(3,165)
Cash merger consideration paid by Old IAC in connection with the MTCH Separation	0	837,913
Transfers from Old IAC for periods prior to the MTCH Separation	0	1,706,479
Other, net	(317)	(466)
Net cash used in investing activities attributable to continuing operations	(329,415)	2,467,992
Total cash (used in) provided by continuing operations	(306,350)	1,601,013
Net cash provided by operating activities attributable to discontinued operations	18,053	8,584
Net cash provided by (used in) investing activities attributable to discontinued operations	7,602	(335)
Net cash provided by financing activities attributable to discontinued operations	293,577	0
Total cash provided by discontinued operations	319,232	8,249
Effect of exchange rate changes on cash and cash equivalents and restricted cash	648	(1,245)
Net increase in cash and cash equivalents and restricted cash	13,530	1,608,017
Cash and cash equivalents and restricted cash at beginning of period	3,477,110	840,732
Cash and cash equivalents and restricted cash at end of period	3,490,640	2,448,749
IAC
Cash flows from financing activities attributable to continuing operations:
Proceeds from the exercise of IAC stock options	1,496	0
Withholding taxes paid on behalf of employees on net settled stock-based awards	(26,276)	0
Angi Inc.
Cash flows from financing activities attributable to continuing operations:
Withholding taxes paid on behalf of employees on net settled stock-based awards	$ (54,596)	$ (11,494)

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Common Stock, $0.0001 par value
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001
Common Stock, $0.0001 par value \| Common Stock
Common stock, par value (USD per share)	0.0001
Class B common stock, $0.0001 par value
Common stock, par value (USD per share)	0.0001	0.0001
Class B common stock, $0.0001 par value \| Common Stock
Common stock, par value (USD per share)	0.0001
Common Stock, $0.001 par value
Common stock, par value (USD per share)	0.001	0.001
Common Stock, $0.001 par value \| Common Stock
Common stock, par value (USD per share)	0.001		$ 0.001
Class B common stock, $0.001 par value
Common stock, par value (USD per share)	0.001	$ 0.001
Class B common stock, $0.001 par value \| Common Stock
Common stock, par value (USD per share)	$ 0.001		$ 0.001

COMBINED STATEMENT OF PARENT'S EQUITY AND CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Common Stock, $0.001 par value
Common stock, par value (USD per share)	$ 0.001	$ 0.001
Common Stock, $0.001 par value \| Common Stock
Common stock, par value (USD per share)	0.001		$ 0.001
Class B common stock, $0.001 par value
Common stock, par value (USD per share)	0.001	$ 0.001
Class B common stock, $0.001 par value \| Common Stock
Common stock, par value (USD per share)	$ 0.001		$ 0.001

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Vimeo Spin-off: On May 25, 2021, IAC completed the spin-off of its full stake in Vimeo to IAC shareholders (which we refer to as the “Spin-off”). Following the Spin-off, Vimeo, Inc. (formerly Vimeo Holdings, Inc. ("Vimeo")) became an independent, separately traded public company. Therefore, Vimeo is presented as a discontinued operation within IAC's consolidated and combined financial statements for all periods prior to May 25, 2021. MTCH Separation: On December 19, 2019, IAC/InterActiveCorp ("Old IAC") entered into a Transaction Agreement (as amended, 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 "MTCH Separation." Nature of Operations The Company has majority ownership of Angi Inc., which also includes HomeAdvisor Powered by Angi and Handy, and operates Dotdash and Care.com, among many others. Basis of Presentation As used herein, "IAC," the "Company," "we," "our" or "us" and similar terms refer to IAC/InterActiveCorp and its subsidiaries (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 to New IAC of all the entities that comprise the Company following the MTCH 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 historical 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 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 MTCH 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 MTCH 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 statement of parent's equity 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 the Company would 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 and notes thereto for the year ended December 31, 2020 included on Form 8-K filed with the SEC on June 1, 2021. COVID-19 Update The impact on the Company from the COVID-19 pandemic and the measures designed to contain its spread has been varied and volatile. As previously disclosed, the initial impact of COVID-19 on the businesses in IAC's Angi Inc. segment resulted in a decline in demand for service requests, driven primarily by decreases in demand in certain categories of jobs (particularly discretionary indoor projects). While these businesses have experienced a rebound in service requests in the second half of 2020 and the first half of 2021, many service professionals' businesses had been adversely impacted by labor and material constraints and many service professionals had limited capacity to take on new business, which negatively impacted the ability of these businesses to monetize this increased level of service requests through the first quarter of 2021. Although Angi Inc.'s ability to monetize service requests rebounded modestly in the second quarter of 2021, it is still not back to levels it experienced pre-COVID-19. No assurances can be provided that Angi Inc. will continue to be able to improve monetization, or that service professionals' businesses will not be adversely impacted in the future. The Search segment has experienced an increase in revenue in the first and second quarter of 2021 compared to the prior year due, in part, to lower advertising rates in 2020 due to the impact of COVID-19. The volatile nature of our operating results in 2020 due to COVID-19 will impact the comparability of our year-over-year results of operations. 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 (included in the Search segment); •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. The extent to which developments related to the COVID-19 pandemic 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 continuing spread of COVID-19, the severity of resurgences of COVID-19 caused by variant strains of the virus, the effectiveness of vaccines and attitudes toward receiving them, materials and supply chain constraints, labor shortages, the scope of governmental and other restrictions on travel, discretionary services and other activity, and public reactions to these developments. 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 assets and liabilities. Actual results could differ from these estimates. On an ongoing basis, the Company evaluates its estimates, judgments and assumptions, 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 and the determination of revenue reserves; the determination of the customer relationship period for certain costs to obtain a contract with a customer; the carrying value of right-of-use assets ("ROU assets"); the useful lives and recoverability of building, capitalized software, leasehold improvements and equipment and definite-lived intangible assets; 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, judgments and assumptions 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 subsidiaries and those accounted for under the equity method, if applicable, are accounted for at fair value or under the measurement alternative, 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; fair 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. 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 three months ended March 31, 2020. The Company accounts for 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, using the equity method. At June 30, 2021 and December 31, 2020, the Company has one investment accounted for using the equity method which is included in "Long-term investments" in the accompanying balance sheet. 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 9—Segment Information." Deferred Revenue Deferred revenue consists of payments that are received or are contractually due in advance of the Company's performance obligation. 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 remaining term of the applicable subscription period or expected completion of its performance obligation is one year or less. The current and non-current deferred revenue balances are $137.7 million and $0.7 million, respectively, at December 31, 2020, and $94.7 million and $0.6 million, respectively, at December 31, 2019. During the six months ended June 30, 2021, the Company recognized $105.3 million of revenue that was included in the deferred revenue balance as of December 31, 2020. During the six months ended June 30, 2020, the Company recognized $72.1 million of revenue that was included in the deferred revenue balance as of December 31, 2019. The current and non-current deferred revenue balances are $148.0 million and $0.6 million, at June 30, 2021, 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 it has the right to invoice for services performed. Assets Recognized from the Costs to Obtain a Contract with a Customer The Company uses a portfolio approach to assess the accounting treatment of the incremental costs to obtain a contract with a customer. The Company recognizes an asset for these costs if we expect to recover those costs. To the extent that these costs are capitalized, the resultant asset is amortized on a systematic basis consistent with the pattern of the transfer of the services to which the asset relates. The current and non-current capitalized costs to obtain a contract with a customer are included in "Other current assets" and "Other non-current assets" in the accompanying balance sheet and are $55.2 million and $5.4 million, and $58.8 million and $4.4 million, at June 30, 2021 and December 31, 2020, respectively. Commissions Paid to Employees Pursuant to Sales Incentive Programs The Company has determined that commissions paid to employees pursuant to certain sales incentive programs meet the requirements to be capitalized as the incremental costs to obtain a contract with a customer. When customer renewals are expected and the renewal commission is not commensurate with the initial commission, the average customer life includes renewal periods. Capitalized commissions paid to employees pursuant to these sales incentive programs are amortized over the estimated customer relationship period. The Company calculates the anticipated customer relationship period as the average customer life, which is based on historical data. For sales incentive programs where the anticipated customer relationship period is one year or less, the Company has elected the practical expedient to expense the costs as incurred. App Store Fees The Company pays fees to the Apple App Store and the Google Play Store for the distribution of our paid mobile apps. The Company capitalizes and amortizes mobile app store fees related to subscriptions over the term of the applicable subscription. Certain Risks and Concentrations—Services Agreement with Google (the "Services Agreement") A meaningful portion of the Company's revenue (and a substantial portion of IAC's net cash from operating activities attributable to continuing operations that it can freely access) 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 six months ended June 30, 2021, total revenue earned from Google was $169.6 million and $341.4 million, respectively, representing 20% and 21%, respectively, of the Company's revenue. For the three and six months ended June 30, 2020, total revenue earned from Google was $114.4 million and $253.2 million, respectively, representing 17% and 20%, respectively, of the Company's revenue. The related accounts receivable totaled $58.7 million and $61.9 million at June 30, 2021 and December 31, 2020, respectively. The total revenue earned from the Services Agreement for the three and six months ended June 30, 2021 was $150.8 million and $303.3 million, respectively, representing 18% and 19%, respectively, of the Company's total revenue. The total revenue earned from the Services Agreement for the three and six months ended June 30, 2020 was $104.2 million and $230.7 million, respectively, representing 16% and 18%, respectively, of the Company's total revenue. The revenue attributable to the Services Agreement is earned by Ask Media Group and the Desktop business, both within the Search segment. For the three and six months ended June 30, 2021, revenue earned from the Services Agreement was $123.2 million and $244.6 million, respectively, within Ask Media Group and $27.6 million and $58.7 million, respectively, within the Desktop business. For the three and six months ended June 30, 2020, revenue earned from the Services Agreement was $67.0 million and $147.5 million, respectively, within Ask Media Group and $37.2 million and $83.3 million, respectively, within the Desktop business. 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 have in the past and could in the future require modifications to, or prohibit and/or render obsolete certain of our products, services and/or business practices, which have been and could be costly to address and have had and in the future could have an adverse effect on our financial condition and results of operations. As described below, Google has made changes to the policies under the Services Agreement and has also made industry-wide changes that have negatively impacted the Desktop business-to-consumer ("B2C") business and it may do so in the future. Certain industry-wide policy changes became effective on August 27, 2020. These industry-wide changes, combined with increased enforcement of policies under the Services Agreement, have had a negative impact on the results of operations of the B2C business. In addition, during the fourth quarter of 2020, Google suspended services with respect to some B2C's products and may do so with respect to other products in the future. As a result, the B2C business elected to modify certain marketing strategies in early January 2021. Subsequently, Google informed us of another policy change in the first quarter of 2021 that became effective on May 10, 2021. We anticipated that this Google policy change would eliminate our ability to successfully introduce and market new B2C products that would be profitable. Therefore, we undertook cost reduction measures and we effectively eliminated all marketing of B2C products beginning in March 2021. This elimination of marketing has and will positively impact profitability in 2021 because revenue from B2C products is earned over multiple periods beyond just the period in which the initial marketing is incurred and following the cessation of the introduction of new products in March 2021, the B2C revenue stream relates solely to the then existing installed base of products. For the three months ended June 30, 2021, B2C revenue declined by $11.3 million to $20.9 million while Desktop operating income increased by $10.7 million to $14.4 million versus the comparable prior year period. In the second half of 2021, we expect this trend to continue and B2C revenue to decline substantially while Desktop operating income, excluding the third quarter 2020 goodwill and intangible asset impairment charges, will increase modestly versus the comparable prior year period. Beyond 2021, we expect the revenue and profits of the B2C business and Desktop, respectively, to decline significantly. Recent Accounting Pronouncements There are no recently issued accounting pronouncements that have not yet been adopted that are expected to have a material effect on the results of operations, financial condition or cash flows of the Company. Discontinued Operations Discontinued operations in the accompanying financial statements include Vimeo for all periods prior to May 25, 2021. The notes accompanying these consolidated and combined financial statements reflect our continuing operations and, unless otherwise noted, exclude information related to Vimeo. See “Note 3—Discontinued Operations” for additional details. Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation.

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2021
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 MTCH 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 or benefit in the quarter in which the change occurs. For the three and six months ended June 30, 2021, the Company recorded an income tax provision of $87.8 million and $141.1 million, which represents an effective income tax rate of 30% and 21%, respectively. For the three months ended June 30, 2021, the effective income tax rate is higher than the statutory rate of 21% due primarily to an increase in the valuation allowance on beginning-of-the-year deferred tax assets related to the Spin-off and state taxes, partially offset by excess tax benefits generated by the exercise and vesting of stock-based awards. For the six months ended June 30, 2021, the effective income tax rate was the same as the statutory rate of 21% due to excess tax benefits generated by the exercise and vesting of stock-based awards, offset by an increase in the valuation allowance on beginning-of-the-year deferred tax assets related to the Spin-off and state taxes. For the three and six months ended June 30, 2020, the Company recorded an income tax benefit of $34.4 million and $71.4 million, which represents an effective income tax rate of 29% and 15%, respectively. For the three months ended June 30, 2020, the effective income tax rate is higher than the statutory rate of 21% due primarily to excess tax benefits generated by the exercise and vesting of stock-based awards and the recognition of amortizable tax basis for certain assets related to an intercompany transaction, partially offset by an unbenefited unrealized loss related to our investment in MGM Resorts International ("MGM"). For the six months ended June 30, 2020, the effective income tax rate is lower than the statutory rate of 21% due primarily to the non-deductible portion of the Desktop goodwill impairment charge and unbenefited losses related to other investment impairments, partially offset by a revaluation of net operating loss deferred taxes due to the Coronavirus Aid, Relief, and Economic Security Act and excess tax benefits generated by the exercise and vesting of stock-based awards. As a result of the MTCH 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 ended 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 and will be under audit for its tax returns filed on a standalone basis following the MTCH Separation. 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, 2013 through 2017, which includes the operations of the Company. The statute of limitations for the years 2013 through 2017 has been extended to June 30, 2022. 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 June 30, 2021 and December 31, 2020, unrecognized tax benefits, including interest and penalties, are $14.5 million and $20.1 million, respectively. Unrecognized tax benefits, including interest and penalties, at June 30, 2021 decreased by $5.6 million due primarily to statute expirations. If unrecognized tax benefits at June 30, 2021 are subsequently recognized, $13.4 million, net of related deferred tax assets and interest, would reduce income tax expense. The comparable amount as of December 31, 2020 was $18.5 million. The Company believes that it is reasonably possible that its unrecognized tax benefits could decrease by $0.1 million by June 30, 2022, due to settlements; all of which would reduce the income tax provision from continuing operations.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

DISCONTINUED OPERATIONS

6 Months Ended

Jun. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

On May 25, 2021, IAC completed the Spin-off. Following the Spin-off, Vimeo became an independent, separately traded public company. Therefore, Vimeo is presented as discontinued operations within IAC's consolidated and combined financial statements for all periods prior to May 25, 2021.

The components of assets and liabilities of discontinued operations in the consolidated balance sheet at December 31, 2020 consisted of the following:


	December 31, 2020
	(In thousands)
Current assets
Cash and cash equivalents	$	110,011
Accounts receivable, net	12,785
Other current assets	7,681
Total current assets of discontinued operations	$	130,477

Non-current assets
Leasehold improvements and equipment, net	$	3,321
Goodwill	219,336
Intangible assets, net	10,854
Deferred income taxes	26,216
Other non-current assets	6,820
Total non-current assets of discontinued operations	$	266,547

Current liabilities
Accounts payable, trade	$	3,324
Deferred revenue	137,436
Accrued expenses and other current liabilities	43,228
Total current liabilities of discontinued operations	$	183,988

Non-current liabilities
Lease liability	$	1,027
Other non-current liabilities	1,945
Total non-current liabilities of discontinued operations	$	2,972

Redeemable noncontrolling interests attributable to discontinued operations at December 31, 2020 was $188.0 million.

The components of the loss from discontinued operations for the three and six months ended June 30, 2021 and 2020 in the consolidated and combined statement of operations consisted of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	In thousands
Revenue	$	56,096	$	67,333	$	145,514	$	124,241
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	15,039		22,900		39,995		41,257
Selling and marketing expense	22,721		26,483		54,774		51,564
General and administrative expense	9,815		8,245		23,343		19,686
Product development expense	14,176		16,262		35,651		31,555
Depreciation	68		102		182		160
Amortization of intangibles	1,096		2,915		2,983		6,038
Total operating costs and expenses	62,915		76,907		156,928		150,260
Operating loss from discontinued operations	(6,819)		(9,574)		(11,414)		(26,019)
Interest expense	(76)		—		(140)		—
Other income (expense), net	87		(162)		10,172		(222)
Loss from discontinued operations before tax	(6,808)		(9,736)		(1,382)		(26,241)
Income tax (expense) benefit	(4,979)		1,676		(449)		6,131
Loss from discontinued operations, net of tax	$	(11,787)	$	(8,060)	$	(1,831)	$	(20,110)

BUSINESS COMBINATION

6 Months Ended

Jun. 30, 2021

Business Combination and Asset Acquisition [Abstract]

BUSINESS COMBINATION

On February 11, 2020, the Company acquired 100% of Care.com, the leading online destination for families to easily connect with caregivers, 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 completed the purchase accounting for the Care.com acquisition during the first quarter of 2021.

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 six months ended June 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 $2.2 million and $63.1 million, respectively, because they are one-time in nature and will not have a continuing impact on operations and an increase in revenue of $4.5 million and $13.2 million related to deferred revenue written off as a part of the acquisition.


	Three Months Ended June 30, 2020		Six Months Ended June 30, 2020
	(In thousands except per share data)
Revenue	$	663,572	$	1,325,427
Net loss from continuing operations	$	(80,987)	$	(392,264)
Basic and diluted loss per share from continuing operations	$	(0.98)	$	(4.61)
Net loss attributable to IAC shareholders	$	(91,101)	$	(412,056)
Basic and diluted loss per share attributable to IAC shareholders	$	(1.07)	$	(4.84)

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

Marketable Securities

At June 30, 2021 and December 31, 2020, the fair value of marketable securities are as follows:


	June 30, 2021		December 31, 2020
	(In thousands)
Marketable equity security	$	10,810	$	—
Available for sale marketable debt securities	—		224,979
Total marketable securities	$	10,810	$	224,979

The marketable equity security relates to one of the Company’s investments that was previously accounted for as an equity security without a readily determinable fair value. Following the investee’s initial public offering, it is now carried at fair value. Unrealized gains or losses related to this investment is included in "Other income (expense), net" in the accompanying statement of operations. For both the three and six months ended June 30, 2021, the Company recognized an unrealized gain of $10.7 million related to this investment.

At December 31, 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	$	224,976	$	3	$	—	$	224,979
Total available-for-sale marketable debt securities	$	224,976	$	3	$	—	$	224,979

The contractual maturities of debt securities classified as current available-for-sale at December 31, 2020 were within one year. There were no investments in available-for-sale marketable debt securities that had been in a continuous unrealized loss position for longer than twelve months as of December 31, 2020.

Investment in MGM Resorts International


	June 30, 2021		December 31, 2020
	(In thousands)
Investment in MGM Resorts International	$	2,517,796	$	1,860,158

During the second and third quarters of 2020, the Company purchased a total of 59.0 million shares of MGM. The fair value of the investment in MGM is remeasured each reporting period based upon MGM's closing stock price on the New York Stock Exchange on the last trading day in the reporting period and any unrealized gains or losses are included in the accompanying statement of operations. For the three and six months ended June 30, 2021, the Company recognized unrealized gains on its investment in MGM of $275.1 million and $657.6 million, respectively. For both the three and six months ended June 30, 2020, the Company recognized an unrealized loss of $24.7 million on its investment in MGM.

Long-term Investments

Long-term investments consist of:


	June 30, 2021		December 31, 2020
	(In thousands)

Equity securities without readily determinable fair values	$	302,984	$	296,491
Equity method investment	2,605		1,152
Total long-term investments	$	305,589	$	297,643

Equity Securities without Readily Determinable Fair Values

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 June 30, 2021 and 2020.


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Upward adjustments (gross unrealized gains)	$	—	$	—	$	1,376	$	—
Downward adjustments including impairments (gross unrealized losses)	—		—		—		(51,484)
Total	$	—	$	—	$	1,376	$	(51,484)

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.

The cumulative upward and downward adjustments (including impairments) to the carrying value of equity securities without readily determinable fair values held at June 30, 2021 were $21.1 million and $43.5 million, respectively.

Realized and unrealized gains and losses for the Company's investments without readily determinable fair values for the three and six months ended June 30, 2021 and 2020 are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Realized (losses) gains net, for equity securities sold	$	—	$	(1)	$	81	$	11
Unrealized gains (losses), net, on equity securities held	—		—		1,376		(51,484)
Total (losses) gains, net recognized	$	—	$	(1)	$	1,457	$	(51,473)

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.

Equity Method Investment

During the fourth quarter of 2020 and first quarter of 2021, the Company acquired common shares of Turo Inc. ("Turo"), a peer-to-peer car sharing marketplace. This investment is accounted for under the equity method of accounting given the Company's preexisting ownership interest of approximately 27.1% on a fully diluted basis in the form of preferred shares, which are not common stock equivalents. The Company accounts for this investment on a one quarter lag.

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:


	June 30, 2021
	Quoted Market Prices for Identical Assets in Active Markets (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	$	3,069,531	$	—	$	—	$	3,069,531

Time deposits	—		407		—		407
Marketable equity security	10,810		—		—		10,810
Investment in MGM	2,517,796		—		—		2,517,796
Other non-current assets:
Warrant	—		—		60,532		60,532
Total	$	5,598,137	$	407	$	60,532	$	5,659,076

Liabilities:
Contingent consideration arrangement					$	—	$	—


	December 31, 2020
	Quoted Market Prices for Identical Assets in Active Markets (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	$	1,769,239	$	—	$	—	$	1,769,239
Treasury discount notes	—		1,224,966		—		1,224,966
Time deposits	—		2,721		—		2,721
Marketable debt securities:
Treasury discount notes	—		224,979		—		224,979
Investment in MGM	1,860,158		—		—		1,860,158
Other non-current assets:
Warrant	—		—		5,276		5,276
Total	$	3,629,397	$	1,452,666	$	5,276	$	5,087,339

Liabilities:
Contingent consideration arrangement					$	—	$	—

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 June 30,
	2021		2020
	Warrant			Warrant		Contingent Consideration Arrangements
	(In thousands)
Balance at April 1	$	18,051		$	6,489	$	(636)

Total net gains:
Fair value adjustments included in earnings	42,481			590		636

Balance at June 30	$	60,532		$	7,079	$	—


	Six Months Ended June 30,
	2021		2020
	Warrant			Warrant		Contingent Consideration Arrangements
	(In thousands)
Balance at January 1	$	5,276		$	8,495	$	(6,918)
Fair value at date of acquisition	—			—		(1,000)
Total net gains (losses):
Fair value adjustments included in earnings	55,256			(1,416)		6,918
Settlements	—			—		1,000
Balance at June 30	$	60,532		$	7,079	$	—

Warrant

As part of the Company's investment in Turo preferred shares, the Company received a warrant that 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 Arrangement

At June 30, 2021, the Company has one outstanding contingent consideration arrangement related to a business combination. The maximum contingent payments related to this arrangement for periods subsequent to December 31, 2020, which is the end of the most recent measurement period, is $15.0 million. At June 30, 2021, 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. At both June 30, 2021 and December 31, 2020, there is no contingent consideration liability outstanding.

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.

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:


	June 30, 2021				December 31, 2020
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
Long-term debt, net(a)	$	(494,195)	$	(495,600)	$	(712,277)	$	(725,700)

_____________________

(a) At June 30, 2021 and December 31, 2020, the carrying value of long-term debt, net includes unamortized debt issuance costs of $5.8 million and $7.7 million, respectively.

At June 30, 2021 and December 31, 2020, the fair value of long-term debt 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

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

LONG-TERM DEBT

Long-term debt consists of:


	June 30, 2021		December 31, 2020
	(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	$	500,000
ANGI Group Term Loan due November 5, 2023 ("ANGI Group Term Loan")	—		220,000
Total long-term debt	500,000		720,000

Less: unamortized debt issuance costs	5,805		7,723
Total long-term debt, net	$	494,195	$	712,277

ANGI Group Senior Notes

The ANGI Group Senior Notes were issued on August 20, 2020, 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 in the indenture governing the notes, plus accrued and unpaid interest thereon, if any, to the applicable redemption date.

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 ANGI Group’s secured leverage ratio (as defined in the indenture) exceeds 3.75 to 1.0. At June 30, 2021 there were no limitations pursuant thereto.

ANGI Group Revolving Facility

The $250 million ANGI Group Revolving Facility, which otherwise would have expired on November 5, 2023, was terminated effective August 3, 2021. No amounts were ever drawn under the ANGI Group Revolving Facility prior to its termination.

ANGI Group Term Loan

As of May 6, 2021, the outstanding balance of the ANGI Group Term Loan was repaid in its entirety. The outstanding balance of the ANGI Group Term Loan at December 31, 2020 was $220.0 million and bore interest at 2.16%.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

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


	Three Months Ended June 30, 2021		Three Months Ended June 30, 2020
	Foreign Currency Translation Adjustment		Accumulated Other Comprehensive Income		Foreign Currency Translation Adjustment		Unrealized (Losses) Gains On Available-For-Sale Marketable Debt Securities		Accumulated Other Comprehensive Loss
	(In thousands)
Balance at of April 1	$	4,149	$	4,149	$	(17,914)	$	(12)	$	(17,926)
Other comprehensive income before reclassifications	1,543		1,543		4,288		11		4,299
Amounts reclassified to earnings	—		—		(144)		—		(144)
Net current period other comprehensive income	1,543		1,543		4,144		11		4,155
Accumulated other comprehensive income allocated to noncontrolling interests during the period	(6)		(6)		(10)		—		(10)
Balance at of June 30	$	5,686	$	5,686	$	(13,780)	$	(1)	$	(13,781)


	Six Months Ended June 30, 2021						Six Months Ended June 30, 2020
	Foreign Currency Translation Adjustment		Unrealized Gains (Losses) On Available-For-Sale Marketable Debt Securities		Accumulated Other Comprehensive (Loss) Income		Foreign Currency Translation Adjustment		Unrealized Losses On Available-For-Sale Marketable Debt Securities		Accumulated Other Comprehensive Loss
	(In thousands)
Balance at of January 1	$	(6,172)	$	2	$	(6,170)	$	(12,226)	$	—	$	(12,226)
Other comprehensive income (loss) before reclassifications	1,837		(2)		1,835		(1,363)		(1)		(1,364)
Amounts reclassified to earnings	10,032		—		10,032		(144)		—		(144)
Net current period other comprehensive income (loss)	11,869		(2)		11,867		(1,507)		(1)		(1,508)
Accumulated other comprehensive income allocated to noncontrolling interests during the period	(11)		—		(11)		(47)		—		(47)
Balance at of June 30	$	5,686	$	—	$	5,686	$	(13,780)	$	(1)	$	(13,781)

The amounts reclassified out of foreign currency translation adjustment into earnings for the six months ended June 30, 2021 and the three and six months ended June 30, 2020 relate to the substantial liquidation of certain international subsidiaries.

At both June 30, 2021 and 2020, there was no income tax benefit or provision on the accumulated other comprehensive income (loss).

EARNINGS (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

The Company treats its common stock and Class B common stock as one class of stock for earnings per share ("EPS") purposes as both classes of stock participate in earnings, dividends and other distributions on the same basis. The restricted stock award granted to our Chief Executive Officer ("CEO") on November 5, 2020 is a participating security and the Company calculates EPS using the two-class method since those restricted shares are unvested and have a non-forfeitable dividend right in the event the Company declares a cash dividend on common shares and participate in all other distributions of the Company in the same manner as all other IAC common shares.

Undistributed earnings allocated to the participating security is subtracted from net income in determining net income attributable to holders of IAC common stock and Class B common stock for basic EPS. Basic EPS is computed by dividing net income attributable to holders of IAC common stock and Class B common stock by the weighted-average number of shares of common stock and Class B common stock outstanding during the period.

For the calculation of diluted EPS, net income attributable to holders of IAC common stock and Class B common stock is adjusted for the impact from our public subsidiary's dilutive securities, if applicable, and the reallocation of undistributed earnings allocated to the participating security by the weighted-average number of common stock and Class B common stock outstanding plus dilutive securities during the period.

The numerator and denominator of basic and diluted EPS computations for the Company’s common stock and Class B common stock are calculated as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands, except per share data)
Basic EPS:
Numerator:
Net earnings (loss) from continuing operations	$	203,325	$	(86,004)	$	522,270	$	(404,525)
Net loss (earnings) attributable to noncontrolling interests of continuing operations	2,596		(2,118)		3,632		90
Net earnings attributed to unvested participating security	(6,929)		—		(17,721)		—
Net earnings (loss) from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	198,992	$	(88,122)	$	508,181	$	(404,435)

Net loss from discontinued operations, net of tax	$	(11,787)	$	(8,060)	$	(1,831)	$	(20,110)
Net loss (earnings) attributable to noncontrolling interests of discontinued operations	623		65		(186)		229
Net loss attributed to unvested participating security	376		—		68		—
Net loss from discontinued operations attributable to IAC Common Stock and Class B common stock shareholders	$	(10,788)	$	(7,995)	$	(1,949)	$	(19,881)

Net earnings (loss) attributable to IAC Common Stock and Class B common stock shareholders	$	188,204	$	(96,117)	$	506,232	$	(424,316)

Denominator:
Weighted average basic IAC Common Stock and Class B common stock shares outstanding(a)	86,157		85,132		86,029		85,132


Earnings (loss) per share:
Earnings (loss) per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	2.31	$	(1.04)	$	5.91	$	(4.75)
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders	$	(0.13)	$	(0.09)	$	(0.02)	$	(0.23)
Earnings (loss) per share attributable to IAC Common Stock shareholders and Class B common stock shareholders	$	2.18	$	(1.13)	$	5.88	$	(4.98)


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2021
	(In thousands, except per share data)
Diluted EPS:
Numerator:
Net earnings (loss) from continuing operations	$	203,325	$	(86,004)	$	522,270	$	(404,525)
Net loss (earnings) attributable to noncontrolling interests of continuing operations	2,596		(2,118)		3,632		90
Net earnings attributed to unvested participating security	(6,416)		—		(16,482)		—
Impact from public subsidiaries' dilutive securities(c)	172		—		155		—
Net earnings (loss) from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	199,677	$	(88,122)	$	509,575	$	(404,435)

Net loss from discontinued operations, net of tax	$	(11,787)	$	(8,060)	$	(1,831)	$	(20,110)
Net loss (earnings) attributable to noncontrolling interests of discontinued operations	623		65		(186)		229
Net loss attributed to unvested participating security	348		—		63		—
Net loss from discontinued operations attributable to shareholders	$	(10,816)	$	(7,995)	$	(1,954)	$	(19,881)

Net earnings (loss) attributable to IAC Common Stock and Class B common stock shareholders	$	188,861	$	(96,117)	$	507,621	$	(424,316)

Denominator:
Weighted average basic IAC Common Stock and Class B common stock shares outstanding(a)	86,157		85,132		86,029		85,132
Dilutive securities(b)(c)(d)(e)	7,210		—		6,724		—
Denominator for earnings per share—weighted average shares(b)(c)(d)(e)	93,367		85,132		92,753		85,132

Earnings (loss) per share:
Earnings (loss) per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	2.14	$	(1.04)	$	5.49	$	(4.75)
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders	$	(0.12)	$	(0.09)	$	(0.02)	$	(0.23)
Earnings (loss) per share attributable to IAC Common Stock and Class B common stock shareholders	$	2.02	$	(1.13)	$	5.47	$	(4.98)

_____________________

(a) On November 5, 2020, IAC's CEO was granted a stock-based award in the form of 3.0 million shares of restricted common stock. The number of shares that ultimately vests is subject to the satisfaction of growth targets in IAC's stock price over the 10-year service condition of the award. These restricted shares have a non-forfeitable dividend right in the event the Company declares a cash dividend on its common shares and participate in all other distributions of the Company in the same manner as all other IAC common shares. Accordingly, the two-class method of calculating earnings per share is used. While the restricted shares are presented as outstanding shares in the consolidated balance sheet, these shares are excluded from the weighted average shares outstanding in calculating basic earnings per share and the allocable portion of net earnings are also excluded. Fully diluted earnings per share reflects the impact on earnings and fully diluted shares in the manner that is most dilutive.

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

(c) IAC has the option to settle certain Angi Inc. stock-based awards in its shares. For the three and six months ended June 30, 2021, it is more dilutive for IAC to settle these Angi Inc. equity awards. The impact on earnings relates to the settlement of Angi Inc.'s dilutive securities in IAC common shares.

(d) 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 common stock, restricted stock units ("RSUs") and market-based awards ("MSUs"). For both the three and six months ended June 30, 2021, 3.0 million of potentially dilutive securities were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.

(e) For the three and six months ended June 30, 2020, the Company had a loss from operations and, as a result, approximately 5.7 million potentially dilutive securities were excluded from computing dilutive earnings per share because the impact would have been anti-dilutive. Accordingly, the weighted average basic shares outstanding were used to compute all earnings per share amounts.

SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2021

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. In addition, we consider how the businesses are organized as to segment management and the focus of the businesses with regards to the types of services or products offered or the target market. Operating segments are combined for reporting purposes if they meet certain aggregation criteria, which principally relate to the similarity of their economic characteristics, which is the case for the Desktop and Ask Media Group operating segments in the Search reportable segment, 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 June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Revenue
Angi Inc.	$	420,988	$	375,061	$	808,017	$	718,711
Dotdash	73,333		44,621		138,754		88,741
Search	183,607		131,263		364,641		285,682
Emerging & Other	151,656		108,127		304,812		193,169
Inter-segment eliminations	(37)		(45)		(107)		(60)
Total	$	829,547	$	659,027	$	1,616,117	$	1,286,243

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Angi Inc.
North America
Angi Marketplace:
Consumer connection revenue(a)	$	240,016	$	242,015	$	461,447	$	450,619
Angi Services revenue(b)	72,819		32,095		127,505		64,956
Service professional membership subscription revenue	12,390		13,017		24,342		26,794
Other revenue	2,372		6,046		5,353		9,580
Total Angi Marketplace revenue	327,597		293,173		618,647		551,949
Advertising and other revenue(c)	72,348		64,244		142,339		129,600
Total North America revenue	399,945		357,417		760,986		681,549
Europe
Consumer connection revenue(d)	17,345		13,945		39,696		29,634
Service professional membership subscription revenue	3,331		3,215		6,659		6,514
Advertising and other revenue	367		484		676		1,014
Total Europe revenue	21,043		17,644		47,031		37,162
Total Angi Inc. revenue	$	420,988	$	375,061	$	808,017	$	718,711

(a) Includes fees paid by service professionals for consumer matches sourced through the marketplace platforms.
(b) Includes revenue from pre-priced offerings sourced through the marketplace platforms.
(c) Includes Angi revenue from service professionals under contract for advertising and Angi membership subscription fees from consumers, as well as revenue from HomeStars.
(d) Includes fees paid by service professionals for consumer matches.

Dotdash
Display advertising revenue	$	44,932	$	26,601	$	82,103	$	56,490
Performance marketing revenue	28,401		18,020		56,651		32,251
Total Dotdash revenue	$	73,333	$	44,621	$	138,754	$	88,741

Search
Advertising revenue
Google advertising revenue:	$	153,517	$	105,283	$	308,935	$	232,080
Non-Google advertising revenue	26,200		21,331		47,734		44,707
Total advertising revenue	179,717		126,614		356,669		276,787
Other revenue	3,890		4,649		7,972		8,895
Total Search revenue	$	183,607	$	131,263	$	364,641	$	285,682

Emerging & Other
Subscription revenue	$	88,664	$	72,934	$	172,230	$	133,605
Marketplace revenue	53,888		30,539		110,159		48,235
Media production and distribution revenue	2,624		543		10,412		1,929
Advertising revenue:
Non-Google advertising revenue	3,919		2,502		7,312		6,215
Google advertising revenue	550		511		1,121		1,345
Total advertising revenue	4,469		3,013		8,433		7,560
Service and other revenue	2,011		1,098		3,578		1,840
Total Emerging & Other revenue	$	151,656	$	108,127	$	304,812	$	193,169

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 June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Revenue:
United States	$	704,218	$	553,910	$	1,359,253	$	1,061,702
All other countries	125,329		105,117		256,864		224,541
Total	$	829,547	$	659,027	$	1,616,117	$	1,286,243


	June 30, 2021		December 31, 2020
	(In thousands)
Long-lived assets (excluding goodwill, intangible assets and ROU assets):
United States	$	264,006	$	263,620
All other countries	9,549		11,310
Total	$	273,555	$	274,930

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Operating (loss) income:
Angi Inc.	$	(32,731)	$	17,644	$	(32,622)	$	1,348
Dotdash	19,174		7,676		37,301		10,087
Search	25,662		8,781		44,048		(211,782)
Emerging & Other	(2,701)		(8,986)		(1,707)		(26,856)
Corporate	(37,824)		(122,560)		(82,670)		(166,135)
Total	$	(28,420)	$	(97,445)	$	(35,650)	$	(393,338)


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Adjusted EBITDA(e):
Angi Inc.	$	(4,442)	$	57,936	$	18,744	$	92,333
Dotdash	$	20,549	$	12,112	$	40,471	$	19,123
Search	$	25,670	$	9,444	$	44,056	$	22,574
Emerging & Other	$	6,891	$	(2,628)	$	18,855	$	(22,587)
Corporate	$	(22,289)	$	(57,194)	$	(48,637)	$	(88,526)

_____________________

(e) 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. 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 June 30, 2021
	Operating (Loss) Income		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA
	(In thousands)
Angi Inc.	$	(32,731)	$	9,543	$	15,058	$	3,688	$	(4,442)
Dotdash	19,174		$	—	$	630	$	745	$	20,549
Search	25,662		$	—	$	8	$	—	$	25,670
Emerging & Other	(2,701)		$	25	$	364	$	9,203	$	6,891
Corporate	(37,824)		$	14,483	$	1,052	$	—	$	(22,289)
Total	(28,420)
Interest expense	(5,814)
Unrealized gain on investment in MGM Resorts International	275,098
Other income, net	50,286
Earnings before income taxes	291,150
Income tax provision	(87,825)
Net earnings from continuing operations	203,325
Loss from discontinued operations, net of tax	(11,787)
Net earnings	191,538
Net loss attributable to noncontrolling interests	3,219
Net earnings attributable to IAC shareholders	$	194,757


	Three Months Ended June 30, 2020
	Operating Income (Loss)		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Arrangements		Adjusted EBITDA
	(In thousands)
Angi Inc.	$	17,644	$	14,759	$	12,555	$	12,978	$	—	$	57,936
Dotdash	7,676		$	—	$	617	$	3,819	$	—	$	12,112
Search	8,781		$	—	$	663	$	—	$	—	$	9,444
Emerging & Other	(8,986)		$	25	$	378	$	6,591	$	(636)	$	(2,628)
Corporate	(122,560)		$	63,077	$	2,289	$	—	$	—	$	(57,194)
Total	(97,445)
Interest expense	(1,555)
Unrealized loss on investment in MGM Resorts International	(24,718)
Other income, net	3,311
Loss before income taxes	(120,407)
Income tax benefit	34,403
Net loss from continuing operations	(86,004)
Loss from discontinued operations, net of tax	(8,060)
Net loss	(94,064)
Net earnings attributable to noncontrolling interests	(2,053)
Net loss attributable to IAC shareholders	$	(96,117)


	Six Months Ended June 30, 2021
	Operating (Loss) Income		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA
	(In thousands)
Angi Inc.	$	(32,622)	$	11,577	$	31,027	$	8,762	$	18,744
Dotdash	37,301		$	—	$	1,179	$	1,991	$	40,471
Search	44,048		$	—	$	8	$	—	$	44,056
Emerging & Other	(1,707)		$	50	$	790	$	19,722	$	18,855
Corporate	(82,670)		$	30,739	$	3,294	$	—	$	(48,637)
Total	(35,650)
Interest expense	(12,431)
Unrealized gain on investment in MGM Resorts International	657,638
Other income, net	53,849
Earnings before income taxes	663,406
Income tax provision	(141,136)
Net earnings from continuing operations	522,270
Loss from discontinued operations, net of tax	(1,831)
Net earnings	520,439
Net loss attributable to noncontrolling interests	3,446
Net earnings attributable to IAC shareholders	$	523,885


	Six Months Ended June 30, 2020
	Operating Income (Loss)		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Arrangements		Goodwill Impairment		Adjusted EBITDA
	(In thousands)
Angi Inc.	$	1,348	$	40,334	$	24,693	$	25,958	$	—	$	—	$	92,333
Dotdash	10,087		$	—	$	827	$	8,209	$	—	$	—	$	19,123
Search	(211,782)		$	—	$	983	$	21,400	$	—	$	211,973	$	22,574
Emerging & Other	(26,856)		$	50	$	680	$	10,457	$	(6,918)	$	—	$	(22,587)
Corporate	(166,135)		$	72,856	$	4,753	$	—	$	—	$	—	$	(88,526)
Total	(393,338)
Interest expense	(3,772)
Unrealized loss on investment in MGM Resorts International	(24,718)
Other expense, net	(54,077)
Loss before income taxes	(475,905)
Income tax benefit	71,380
Net loss from continuing operations	(404,525)
Loss from discontinued operations, net of tax	(20,110)
Net loss	(424,635)
Net loss attributable to noncontrolling interests	319
Net loss attributable to IAC shareholders	$	(424,316)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

FINANCIAL STATEMENT DETAILS

6 Months Ended

Jun. 30, 2021

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:


	June 30, 2021		December 31, 2020		June 30, 2020		December 31, 2019
	(In thousands)
Cash and cash equivalents	$	3,476,071	$	3,366,176	$	2,445,030	$	837,916
Restricted cash included in other current assets	13,839		448		465		503
Restricted cash included in other non-current assets	730		449		413		409
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	—		110,037		2,841		1,904
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$	3,490,640	$	3,477,110	$	2,448,749	$	840,732

Restricted cash included in other current assets at June 30, 2021 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, 2020 primarily consists of cash received from customers at Angi Inc. through their Handy platform, representing funds collected for payments to service providers, which were not settled as of the period end and cash reserved to fund insurance claims at Angi Inc.

Restricted cash included in other current assets at June 30, 2020 primarily consists of a deposit related to corporate credit cards and cash reserved to fund insurance claims at Angi Inc.

Restricted cash included in other current assets at December 31, 2019 primarily consists of a deposit related to corporate credit cards at Angi Inc.

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

Credit Losses

The following table presents the changes in the allowance for credit losses for the six months ended June 30, 2021 and 2020, respectively:



	2021		2020
	(In thousands)
Balance at January 1	$	27,178	$	19,984
Current period provision for credit losses	42,710		40,278
Write-offs charged against the allowance	(37,181)		(34,183)
Recoveries collected	1,351		1,283
Balance at June 30	$	34,058	$	27,362

Accumulated Amortization and Depreciation

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


Asset Category	June 30, 2021		December 31, 2020
	(In thousands)
Right-of-use assets included in other non-current assets	$	98,365	$	73,498
Building, capitalized software, leasehold improvements and equipment	$	192,858	$	207,401
Intangible assets	$	250,078	$	148,073

Other income (expense), net


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Unrealized increase in the estimated fair value of a warrant	$	42,481	$	590	$	55,256	$	590
Unrealized gain related to an investment following its initial public offering	10,710		—		10,710		—
Loss on the extinguishment of debt(a)	(1,110)		—		(1,110)		—
Impairments related to impact of COVID-19 (b)	—		—		—		(59,001)
Interest income	279		1,116		716		5,583
Foreign exchange gains (losses), net (c)	514		1,551		(11,118)		(112)
Other	(2,588)		54		(605)		(1,137)
Other income (expense), net	$	50,286	$	3,311	$	53,849	$	(54,077)

_____________________

(a) Represents the write-off of deferred debt issuance costs related to the ANGI Group Term Loan, which was repaid in its entirety during the second quarter of 2021.

(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 in the six months ended June 30, 2020.

(c) Includes $10.0 million in foreign exchange losses primarily related to the substantial liquidation of certain foreign subsidiaries in the three months ended March 31, 2021.

CONTINGENCIES	6 Months Ended
CONTINGENCIES	Jun. 30, 2021
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 Match Group 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 two investment banks, resulting in a substantial undervaluation of Tinder and a consequent underpayment to the plaintiffs upon exercise of their 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 the 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 or for other relief based upon certain substantial advance and/or preferential payment provisions of the plaintiffs’ agreement with a litigation funding firm; in July 2021, the court ruled that while it would not dismiss the case or preclude the payment recipients from testifying at trial, if they do testify, the defendants will have wide latitude on cross-examination to explore the circumstances of the payments. From July to November 2019, the defendants filed counterclaims against former Tinder CEO 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 and May 2021, the parties participated in mediation sessions that did not result in the resolution of the matter. Discovery in the case is complete. In June 2021, the defendants filed a motion to strike the plaintiffs' jury demand; in July 2021, the court issued an order denying the motion, whereupon the defendants filed a notice of appeal from that order and a motion to stay the trial, which is currently scheduled to commence in November 2021, pending resolution of the appeal. In July 2021, the defendants also filed a motion for summary judgment. 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 New York lawsuit. In September 2020, the defendants filed a motion to stay the trial in the New York lawsuit in favor of the California arbitration; in November 2020, the court denied the motion. In December 2020, the claimants in the California arbitration filed a motion to stay those proceedings in favor of the New York action; in January 2021, the arbitrator denied the motion and scheduled a hearing on the merits for February 2022. In April 2021, the respondents in the California arbitration filed a motion for summary judgment dismissing the claimants' merger-related claims; the motion was argued in July 2021 and remains pending. IAC believes that the allegations against it in the New York lawsuit and the California arbitration are without merit and will continue to defend vigorously against them. Pursuant to the Transaction Agreement (as defined in Note 1—The Company and Summary of Significant Accounting Policies-MTCH 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

6 Months Ended

Jun. 30, 2021

RELATED PARTY TRANSACTIONS

Relationship with Old IAC prior to the MTCH 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 MTCH Separation for the three and six months ended June 30, 2020. 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 Inc. 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. Old IAC allocated costs to the Company, inclusive of stock-based compensation expense, totaled $61.5 million and $85.5 million for the three and six months ended June 30, 2020, the date of the MTCH Separation. 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 and $0.1 million for the three and six months ended June 30, 2020, prior to the MTCH Separation and is included in "Interest income, net" in the table below.

The following table summarizes the components of the net decrease (increase) in Old IAC’s investment in the Company for the three and six months ended June 30, 2020, the date of the MTCH Separation:


	Three Months Ended June 30, 2020		Six Months Ended June 30, 2020
	(In thousands)
Cash transfers to (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	$	43,705	$	(1,742,854)
Contribution of buildings to Match Group	—		34,973
Taxes	9,388		34,436
Allocation of costs from Old IAC	—		(12,652)
Interest income, net	30		102
Net decrease (increase) in Old IAC's investment in the Company prior to the MTCH Separation	$	53,123	$	(1,685,995)

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.

IAC and Old MTCH

Prior to the MTCH Separation, for the three and six months ended June 30, 2020, Old MTCH incurred rent expense of $0.5 million and $1.4 million, respectively, for leasing office space for certain of its businesses at properties owned by the Company. The amount was paid in full by Old MTCH at June 30, 2020. After June 30, 2020, the date of the MTCH 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 this 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 both the three and six months ended June 30, 2020, 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 Angi Inc.

Old IAC and Angi Inc., in connection with the transaction resulting in formation of Angi Inc., entered into a contribution agreement; an investor rights agreement; a services agreement; a tax sharing agreement; and an employee matters agreement. Upon the MTCH Separation, Old IAC assigned these agreements to the Company.

For the three and six months ended June 30, 2021, less than 0.1 million and 0.1 million shares, respectively, of Angi Inc. 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 in connection with the exercise and vesting of IAC equity awards held by Angi Inc. employees. For the six months ended June 30, 2020, 0.2 million shares of Angi Inc. Class B common stock were issued to a subsidiary of the Company pursuant to the employee matters agreement as reimbursement for shares of Old IAC common stock issued in connection with the exercise and vesting of Old IAC equity awards held by Angi Inc. employees. There were no shares issued pursuant to the employee matters agreement for the three months ended June 30, 2020. For the three and six months ended June 30, 2021, less than 0.1 million and 2.6 million shares, respectively, of Angi Inc. Class A common stock were issued to a subsidiary of the Company pursuant to the employee matters agreement as reimbursement for IAC common stock issued in connection with the exercise and settlement of certain Angi Inc. stock appreciation rights. There were no shares of Angi Inc. Class A common stock issued to IAC during the three and six months ended June 30, 2020.

For the three and six months ended June 30, 2021 and 2020, Angi Inc. was charged $1.2 million and $2.3 million; and $1.2 million and $2.4 million, respectively, by IAC and Old IAC, respectively, for services rendered pursuant to the services agreement. At June 30, 2021 and December 31, 2020, there were no outstanding receivables or payables pursuant to the services agreement.

At June 30, 2021 and December 31, 2020, Angi Inc. had outstanding payables of $1.5 million and $0.9 million, respectively, due to the Company pursuant to the tax sharing agreement. There were no payments to or refunds from Angi Inc. pursuant to this agreement during the three and six months ended June 30, 2021. There were $3.1 million of refunds made to Angi Inc. pursuant to this agreement during the three and six months ended June 30, 2020.

Additionally, the Company subleases office space from Angi Inc. and was charged $0.4 million and $0.8 million; and $0.4 million and $0.9 million of rent for the three and six months ended June 30, 2021 and 2020, respectively. At June 30, 2021 there were no outstanding payables due to Angi Inc. pursuant to the sublease agreements. At December 31, 2020, there was an outstanding payable of less than $0.1 million due to Angi Inc. pursuant to sublease agreements, which was subsequently paid in full in the first quarter of 2021.

IAC and Vimeo

Following the Spin-off, the relationship between IAC and Vimeo is governed by a number of agreements. These agreements include a separation agreement; a tax matters agreement; a transition services agreement; an employee matters agreement; and an office lease agreement. The Company and Vimeo are related parties because Mr. Diller is the beneficial owner of more than 10% of the voting interests in both IAC and Vimeo.

At June 30, 2021, Vimeo had no outstanding payables or receivables due to or due from the Company pursuant to the tax sharing agreement. There were no payments to or refunds from Vimeo pursuant to this agreement for the period of May 25, 2021 through June 30, 2021.

For the period of May 25, 2021 through June 30, 2021, Vimeo was charged $0.2 million by IAC for services rendered pursuant to the transition services agreement. At June 30, 2021, there were no outstanding receivables or payables pursuant to the transition services agreement.

Vimeo has an outstanding payable due to the Company of $3.0 million at June 30, 2021 related primarily to reimbursements due to the Company for Vimeo’s participation in the Company’s employee benefit plans. This amount is included in “Other current assets" on the Company’s consolidated balance sheet at June 30, 2021. This amount was paid in full in July 2021.

For the period of May 25, 2021 through June 30, 2021, Vimeo was charged $0.4 million of rent pursuant to the lease agreement. At June 30, 2021 there were no outstanding receivables due from Vimeo pursuant to the lease agreement.

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 $72.7 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 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 because Mr. Diller serves as Chairman and Senior Executive of both IAC and Expedia. For the three and six months ended June 30, 2021 and 2020, total payments made to this entity by the Company were not material.

SUBSEQUENT EVENT	6 Months Ended
SUBSEQUENT EVENT	Jun. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENTThe $250 million ANGI Group Revolving Facility, which otherwise would have expired on November 5, 2023, was terminated effective August 3, 2021. No amounts were ever drawn under the ANGI Group Revolving Facility prior to its termination.

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations The Company has majority ownership of Angi Inc., which also includes HomeAdvisor Powered by Angi and Handy, and operates Dotdash and Care.com, among many others.
Basis of Presentation	Basis of Presentation As used herein, "IAC," the "Company," "we," "our" or "us" and similar terms refer to IAC/InterActiveCorp and its subsidiaries (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 to New IAC of all the entities that comprise the Company following the MTCH 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 historical 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 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 MTCH 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 MTCH 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 statement of parent's equity 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 the Company would 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 and notes thereto for the year ended December 31, 2020 included on Form 8-K filed with the SEC on June 1, 2021.
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 assets and liabilities. Actual results could differ from these estimates. On an ongoing basis, the Company evaluates its estimates, judgments and assumptions, 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 and the determination of revenue reserves; the determination of the customer relationship period for certain costs to obtain a contract with a customer; the carrying value of right-of-use assets ("ROU assets"); the useful lives and recoverability of building, capitalized software, leasehold improvements and equipment and definite-lived intangible assets; 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, judgments and assumptions 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 SecuritiesInvestments in equity securities, other than those of the Company's consolidated subsidiaries and those accounted for under the equity method, if applicable, are accounted for at fair value or under the measurement alternative, 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; fair 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.
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 9—Segment Information." Deferred Revenue Deferred revenue consists of payments that are received or are contractually due in advance of the Company's performance obligation. 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 remaining term of the applicable subscription period or expected completion of its performance obligation is one year or less. The current and non-current deferred revenue balances are $137.7 million and $0.7 million, respectively, at December 31, 2020, and $94.7 million and $0.6 million, respectively, at December 31, 2019. During the six months ended June 30, 2021, the Company recognized $105.3 million of revenue that was included in the deferred revenue balance as of December 31, 2020. During the six months ended June 30, 2020, the Company recognized $72.1 million of revenue that was included in the deferred revenue balance as of December 31, 2019. The current and non-current deferred revenue balances are $148.0 million and $0.6 million, at June 30, 2021, 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 it has the right to invoice for services performed. Assets Recognized from the Costs to Obtain a Contract with a Customer The Company uses a portfolio approach to assess the accounting treatment of the incremental costs to obtain a contract with a customer. The Company recognizes an asset for these costs if we expect to recover those costs. To the extent that these costs are capitalized, the resultant asset is amortized on a systematic basis consistent with the pattern of the transfer of the services to which the asset relates. The current and non-current capitalized costs to obtain a contract with a customer are included in "Other current assets" and "Other non-current assets" in the accompanying balance sheet and are $55.2 million and $5.4 million, and $58.8 million and $4.4 million, at June 30, 2021 and December 31, 2020, respectively. Commissions Paid to Employees Pursuant to Sales Incentive Programs The Company has determined that commissions paid to employees pursuant to certain sales incentive programs meet the requirements to be capitalized as the incremental costs to obtain a contract with a customer. When customer renewals are expected and the renewal commission is not commensurate with the initial commission, the average customer life includes renewal periods. Capitalized commissions paid to employees pursuant to these sales incentive programs are amortized over the estimated customer relationship period. The Company calculates the anticipated customer relationship period as the average customer life, which is based on historical data. For sales incentive programs where the anticipated customer relationship period is one year or less, the Company has elected the practical expedient to expense the costs as incurred. App Store Fees The Company pays fees to the Apple App Store and the Google Play Store for the distribution of our paid mobile apps. The Company capitalizes and amortizes mobile app store fees related to subscriptions over the term of the applicable subscription.
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 (and a substantial portion of IAC's net cash from operating activities attributable to continuing operations that it can freely access) 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.
Recent Accounting Pronouncements	Recent Accounting PronouncementsThere are no recently issued accounting pronouncements that have not yet been adopted that are expected to have a material effect on the results of operations, financial condition or cash flows of the Company.
Discontinued Operations	Discontinued OperationsDiscontinued operations in the accompanying financial statements include Vimeo for all periods prior to May 25, 2021. The notes accompanying these consolidated and combined financial statements reflect our continuing operations and, unless otherwise noted, exclude information related to Vimeo.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation.

DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Jun. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The components of assets and liabilities of discontinued operations in the consolidated balance sheet at December 31, 2020 consisted of the following:


	December 31, 2020
	(In thousands)
Current assets
Cash and cash equivalents	$	110,011
Accounts receivable, net	12,785
Other current assets	7,681
Total current assets of discontinued operations	$	130,477

Non-current assets
Leasehold improvements and equipment, net	$	3,321
Goodwill	219,336
Intangible assets, net	10,854
Deferred income taxes	26,216
Other non-current assets	6,820
Total non-current assets of discontinued operations	$	266,547

Current liabilities
Accounts payable, trade	$	3,324
Deferred revenue	137,436
Accrued expenses and other current liabilities	43,228
Total current liabilities of discontinued operations	$	183,988

Non-current liabilities
Lease liability	$	1,027
Other non-current liabilities	1,945
Total non-current liabilities of discontinued operations	$	2,972

The components of the loss from discontinued operations for the three and six months ended June 30, 2021 and 2020 in the consolidated and combined statement of operations consisted of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	In thousands
Revenue	$	56,096	$	67,333	$	145,514	$	124,241
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	15,039		22,900		39,995		41,257
Selling and marketing expense	22,721		26,483		54,774		51,564
General and administrative expense	9,815		8,245		23,343		19,686
Product development expense	14,176		16,262		35,651		31,555
Depreciation	68		102		182		160
Amortization of intangibles	1,096		2,915		2,983		6,038
Total operating costs and expenses	62,915		76,907		156,928		150,260
Operating loss from discontinued operations	(6,819)		(9,574)		(11,414)		(26,019)
Interest expense	(76)		—		(140)		—
Other income (expense), net	87		(162)		10,172		(222)
Loss from discontinued operations before tax	(6,808)		(9,736)		(1,382)		(26,241)
Income tax (expense) benefit	(4,979)		1,676		(449)		6,131
Loss from discontinued operations, net of tax	$	(11,787)	$	(8,060)	$	(1,831)	$	(20,110)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

BUSINESS COMBINATION (Tables)

6 Months Ended

Jun. 30, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Pro Forma Financial Information


	Three Months Ended June 30, 2020		Six Months Ended June 30, 2020
	(In thousands except per share data)
Revenue	$	663,572	$	1,325,427
Net loss from continuing operations	$	(80,987)	$	(392,264)
Basic and diluted loss per share from continuing operations	$	(0.98)	$	(4.61)
Net loss attributable to IAC shareholders	$	(91,101)	$	(412,056)
Basic and diluted loss per share attributable to IAC shareholders	$	(1.07)	$	(4.84)

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Marketable Securities

At June 30, 2021 and December 31, 2020, the fair value of marketable securities are as follows:


	June 30, 2021		December 31, 2020
	(In thousands)
Marketable equity security	$	10,810	$	—
Available for sale marketable debt securities	—		224,979
Total marketable securities	$	10,810	$	224,979

Schedule of Current Available-for-sale Marketable Securities

At December 31, 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	$	224,976	$	3	$	—	$	224,979
Total available-for-sale marketable debt securities	$	224,976	$	3	$	—	$	224,979

Schedule of Long-term Investments

Investment in MGM Resorts International


	June 30, 2021		December 31, 2020
	(In thousands)
Investment in MGM Resorts International	$	2,517,796	$	1,860,158

Long-term investments consist of:


	June 30, 2021		December 31, 2020
	(In thousands)

Equity securities without readily determinable fair values	$	302,984	$	296,491
Equity method investment	2,605		1,152
Total long-term investments	$	305,589	$	297,643

Schedule of Realized and Unrealized Gains and Losses


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Upward adjustments (gross unrealized gains)	$	—	$	—	$	1,376	$	—
Downward adjustments including impairments (gross unrealized losses)	—		—		—		(51,484)
Total	$	—	$	—	$	1,376	$	(51,484)

Realized and unrealized gains and losses for the Company's investments without readily determinable fair values for the three and six months ended June 30, 2021 and 2020 are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Realized (losses) gains net, for equity securities sold	$	—	$	(1)	$	81	$	11
Unrealized gains (losses), net, on equity securities held	—		—		1,376		(51,484)
Total (losses) gains, net recognized	$	—	$	(1)	$	1,457	$	(51,473)

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:


	June 30, 2021
	Quoted Market Prices for Identical Assets in Active Markets (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	$	3,069,531	$	—	$	—	$	3,069,531

Time deposits	—		407		—		407
Marketable equity security	10,810		—		—		10,810
Investment in MGM	2,517,796		—		—		2,517,796
Other non-current assets:
Warrant	—		—		60,532		60,532
Total	$	5,598,137	$	407	$	60,532	$	5,659,076

Liabilities:
Contingent consideration arrangement					$	—	$	—


	December 31, 2020
	Quoted Market Prices for Identical Assets in Active Markets (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	$	1,769,239	$	—	$	—	$	1,769,239
Treasury discount notes	—		1,224,966		—		1,224,966
Time deposits	—		2,721		—		2,721
Marketable debt securities:
Treasury discount notes	—		224,979		—		224,979
Investment in MGM	1,860,158		—		—		1,860,158
Other non-current assets:
Warrant	—		—		5,276		5,276
Total	$	3,629,397	$	1,452,666	$	5,276	$	5,087,339

Liabilities:
Contingent consideration arrangement					$	—	$	—

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 June 30,
	2021		2020
	Warrant			Warrant		Contingent Consideration Arrangements
	(In thousands)
Balance at April 1	$	18,051		$	6,489	$	(636)

Total net gains:
Fair value adjustments included in earnings	42,481			590		636

Balance at June 30	$	60,532		$	7,079	$	—


	Six Months Ended June 30,
	2021		2020
	Warrant			Warrant		Contingent Consideration Arrangements
	(In thousands)
Balance at January 1	$	5,276		$	8,495	$	(6,918)
Fair value at date of acquisition	—			—		(1,000)
Total net gains (losses):
Fair value adjustments included in earnings	55,256			(1,416)		6,918
Settlements	—			—		1,000
Balance at June 30	$	60,532		$	7,079	$	—

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:


	June 30, 2021				December 31, 2020
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
Long-term debt, net(a)	$	(494,195)	$	(495,600)	$	(712,277)	$	(725,700)

_____________________

(a) At June 30, 2021 and December 31, 2020, the carrying value of long-term debt, net includes unamortized debt issuance costs of $5.8 million and $7.7 million, respectively.

LONG-TERM DEBT (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consists of:


	June 30, 2021		December 31, 2020
	(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	$	500,000
ANGI Group Term Loan due November 5, 2023 ("ANGI Group Term Loan")	—		220,000
Total long-term debt	500,000		720,000

Less: unamortized debt issuance costs	5,805		7,723
Total long-term debt, net	$	494,195	$	712,277

- 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 INCOME (LOSS) (Tables)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

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


	Three Months Ended June 30, 2021		Three Months Ended June 30, 2020
	Foreign Currency Translation Adjustment		Accumulated Other Comprehensive Income		Foreign Currency Translation Adjustment		Unrealized (Losses) Gains On Available-For-Sale Marketable Debt Securities		Accumulated Other Comprehensive Loss
	(In thousands)
Balance at of April 1	$	4,149	$	4,149	$	(17,914)	$	(12)	$	(17,926)
Other comprehensive income before reclassifications	1,543		1,543		4,288		11		4,299
Amounts reclassified to earnings	—		—		(144)		—		(144)
Net current period other comprehensive income	1,543		1,543		4,144		11		4,155
Accumulated other comprehensive income allocated to noncontrolling interests during the period	(6)		(6)		(10)		—		(10)
Balance at of June 30	$	5,686	$	5,686	$	(13,780)	$	(1)	$	(13,781)


	Six Months Ended June 30, 2021						Six Months Ended June 30, 2020
	Foreign Currency Translation Adjustment		Unrealized Gains (Losses) On Available-For-Sale Marketable Debt Securities		Accumulated Other Comprehensive (Loss) Income		Foreign Currency Translation Adjustment		Unrealized Losses On Available-For-Sale Marketable Debt Securities		Accumulated Other Comprehensive Loss
	(In thousands)
Balance at of January 1	$	(6,172)	$	2	$	(6,170)	$	(12,226)	$	—	$	(12,226)
Other comprehensive income (loss) before reclassifications	1,837		(2)		1,835		(1,363)		(1)		(1,364)
Amounts reclassified to earnings	10,032		—		10,032		(144)		—		(144)
Net current period other comprehensive income (loss)	11,869		(2)		11,867		(1,507)		(1)		(1,508)
Accumulated other comprehensive income allocated to noncontrolling interests during the period	(11)		—		(11)		(47)		—		(47)
Balance at of June 30	$	5,686	$	—	$	5,686	$	(13,780)	$	(1)	$	(13,781)

EARNINGS (LOSS) PER SHARE (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

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

The numerator and denominator of basic and diluted EPS computations for the Company’s common stock and Class B common stock are calculated as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands, except per share data)
Basic EPS:
Numerator:
Net earnings (loss) from continuing operations	$	203,325	$	(86,004)	$	522,270	$	(404,525)
Net loss (earnings) attributable to noncontrolling interests of continuing operations	2,596		(2,118)		3,632		90
Net earnings attributed to unvested participating security	(6,929)		—		(17,721)		—
Net earnings (loss) from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	198,992	$	(88,122)	$	508,181	$	(404,435)

Net loss from discontinued operations, net of tax	$	(11,787)	$	(8,060)	$	(1,831)	$	(20,110)
Net loss (earnings) attributable to noncontrolling interests of discontinued operations	623		65		(186)		229
Net loss attributed to unvested participating security	376		—		68		—
Net loss from discontinued operations attributable to IAC Common Stock and Class B common stock shareholders	$	(10,788)	$	(7,995)	$	(1,949)	$	(19,881)

Net earnings (loss) attributable to IAC Common Stock and Class B common stock shareholders	$	188,204	$	(96,117)	$	506,232	$	(424,316)

Denominator:
Weighted average basic IAC Common Stock and Class B common stock shares outstanding(a)	86,157		85,132		86,029		85,132


Earnings (loss) per share:
Earnings (loss) per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	2.31	$	(1.04)	$	5.91	$	(4.75)
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders	$	(0.13)	$	(0.09)	$	(0.02)	$	(0.23)
Earnings (loss) per share attributable to IAC Common Stock shareholders and Class B common stock shareholders	$	2.18	$	(1.13)	$	5.88	$	(4.98)


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2021
	(In thousands, except per share data)
Diluted EPS:
Numerator:
Net earnings (loss) from continuing operations	$	203,325	$	(86,004)	$	522,270	$	(404,525)
Net loss (earnings) attributable to noncontrolling interests of continuing operations	2,596		(2,118)		3,632		90
Net earnings attributed to unvested participating security	(6,416)		—		(16,482)		—
Impact from public subsidiaries' dilutive securities(c)	172		—		155		—
Net earnings (loss) from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	199,677	$	(88,122)	$	509,575	$	(404,435)

Net loss from discontinued operations, net of tax	$	(11,787)	$	(8,060)	$	(1,831)	$	(20,110)
Net loss (earnings) attributable to noncontrolling interests of discontinued operations	623		65		(186)		229
Net loss attributed to unvested participating security	348		—		63		—
Net loss from discontinued operations attributable to shareholders	$	(10,816)	$	(7,995)	$	(1,954)	$	(19,881)

Net earnings (loss) attributable to IAC Common Stock and Class B common stock shareholders	$	188,861	$	(96,117)	$	507,621	$	(424,316)

Denominator:
Weighted average basic IAC Common Stock and Class B common stock shares outstanding(a)	86,157		85,132		86,029		85,132
Dilutive securities(b)(c)(d)(e)	7,210		—		6,724		—
Denominator for earnings per share—weighted average shares(b)(c)(d)(e)	93,367		85,132		92,753		85,132

Earnings (loss) per share:
Earnings (loss) per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	2.14	$	(1.04)	$	5.49	$	(4.75)
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders	$	(0.12)	$	(0.09)	$	(0.02)	$	(0.23)
Earnings (loss) per share attributable to IAC Common Stock and Class B common stock shareholders	$	2.02	$	(1.13)	$	5.47	$	(4.98)

_____________________

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

SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following table presents revenue by reportable segment:


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Revenue
Angi Inc.	$	420,988	$	375,061	$	808,017	$	718,711
Dotdash	73,333		44,621		138,754		88,741
Search	183,607		131,263		364,641		285,682
Emerging & Other	151,656		108,127		304,812		193,169
Inter-segment eliminations	(37)		(45)		(107)		(60)
Total	$	829,547	$	659,027	$	1,616,117	$	1,286,243

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Operating (loss) income:
Angi Inc.	$	(32,731)	$	17,644	$	(32,622)	$	1,348
Dotdash	19,174		7,676		37,301		10,087
Search	25,662		8,781		44,048		(211,782)
Emerging & Other	(2,701)		(8,986)		(1,707)		(26,856)
Corporate	(37,824)		(122,560)		(82,670)		(166,135)
Total	$	(28,420)	$	(97,445)	$	(35,650)	$	(393,338)


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Adjusted EBITDA(e):
Angi Inc.	$	(4,442)	$	57,936	$	18,744	$	92,333
Dotdash	$	20,549	$	12,112	$	40,471	$	19,123
Search	$	25,670	$	9,444	$	44,056	$	22,574
Emerging & Other	$	6,891	$	(2,628)	$	18,855	$	(22,587)
Corporate	$	(22,289)	$	(57,194)	$	(48,637)	$	(88,526)

_____________________

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 June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Angi Inc.
North America
Angi Marketplace:
Consumer connection revenue(a)	$	240,016	$	242,015	$	461,447	$	450,619
Angi Services revenue(b)	72,819		32,095		127,505		64,956
Service professional membership subscription revenue	12,390		13,017		24,342		26,794
Other revenue	2,372		6,046		5,353		9,580
Total Angi Marketplace revenue	327,597		293,173		618,647		551,949
Advertising and other revenue(c)	72,348		64,244		142,339		129,600
Total North America revenue	399,945		357,417		760,986		681,549
Europe
Consumer connection revenue(d)	17,345		13,945		39,696		29,634
Service professional membership subscription revenue	3,331		3,215		6,659		6,514
Advertising and other revenue	367		484		676		1,014
Total Europe revenue	21,043		17,644		47,031		37,162
Total Angi Inc. revenue	$	420,988	$	375,061	$	808,017	$	718,711

(a) Includes fees paid by service professionals for consumer matches sourced through the marketplace platforms.
(b) Includes revenue from pre-priced offerings sourced through the marketplace platforms.
(c) Includes Angi revenue from service professionals under contract for advertising and Angi membership subscription fees from consumers, as well as revenue from HomeStars.
(d) Includes fees paid by service professionals for consumer matches.

Dotdash
Display advertising revenue	$	44,932	$	26,601	$	82,103	$	56,490
Performance marketing revenue	28,401		18,020		56,651		32,251
Total Dotdash revenue	$	73,333	$	44,621	$	138,754	$	88,741

Search
Advertising revenue
Google advertising revenue:	$	153,517	$	105,283	$	308,935	$	232,080
Non-Google advertising revenue	26,200		21,331		47,734		44,707
Total advertising revenue	179,717		126,614		356,669		276,787
Other revenue	3,890		4,649		7,972		8,895
Total Search revenue	$	183,607	$	131,263	$	364,641	$	285,682

Emerging & Other
Subscription revenue	$	88,664	$	72,934	$	172,230	$	133,605
Marketplace revenue	53,888		30,539		110,159		48,235
Media production and distribution revenue	2,624		543		10,412		1,929
Advertising revenue:
Non-Google advertising revenue	3,919		2,502		7,312		6,215
Google advertising revenue	550		511		1,121		1,345
Total advertising revenue	4,469		3,013		8,433		7,560
Service and other revenue	2,011		1,098		3,578		1,840
Total Emerging & Other revenue	$	151,656	$	108,127	$	304,812	$	193,169

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 June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Revenue:
United States	$	704,218	$	553,910	$	1,359,253	$	1,061,702
All other countries	125,329		105,117		256,864		224,541
Total	$	829,547	$	659,027	$	1,616,117	$	1,286,243


	June 30, 2021		December 31, 2020
	(In thousands)
Long-lived assets (excluding goodwill, intangible assets and ROU assets):
United States	$	264,006	$	263,620
All other countries	9,549		11,310
Total	$	273,555	$	274,930

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 June 30, 2021
	Operating (Loss) Income		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA
	(In thousands)
Angi Inc.	$	(32,731)	$	9,543	$	15,058	$	3,688	$	(4,442)
Dotdash	19,174		$	—	$	630	$	745	$	20,549
Search	25,662		$	—	$	8	$	—	$	25,670
Emerging & Other	(2,701)		$	25	$	364	$	9,203	$	6,891
Corporate	(37,824)		$	14,483	$	1,052	$	—	$	(22,289)
Total	(28,420)
Interest expense	(5,814)
Unrealized gain on investment in MGM Resorts International	275,098
Other income, net	50,286
Earnings before income taxes	291,150
Income tax provision	(87,825)
Net earnings from continuing operations	203,325
Loss from discontinued operations, net of tax	(11,787)
Net earnings	191,538
Net loss attributable to noncontrolling interests	3,219
Net earnings attributable to IAC shareholders	$	194,757


	Three Months Ended June 30, 2020
	Operating Income (Loss)		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Arrangements		Adjusted EBITDA
	(In thousands)
Angi Inc.	$	17,644	$	14,759	$	12,555	$	12,978	$	—	$	57,936
Dotdash	7,676		$	—	$	617	$	3,819	$	—	$	12,112
Search	8,781		$	—	$	663	$	—	$	—	$	9,444
Emerging & Other	(8,986)		$	25	$	378	$	6,591	$	(636)	$	(2,628)
Corporate	(122,560)		$	63,077	$	2,289	$	—	$	—	$	(57,194)
Total	(97,445)
Interest expense	(1,555)
Unrealized loss on investment in MGM Resorts International	(24,718)
Other income, net	3,311
Loss before income taxes	(120,407)
Income tax benefit	34,403
Net loss from continuing operations	(86,004)
Loss from discontinued operations, net of tax	(8,060)
Net loss	(94,064)
Net earnings attributable to noncontrolling interests	(2,053)
Net loss attributable to IAC shareholders	$	(96,117)


	Six Months Ended June 30, 2021
	Operating (Loss) Income		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Adjusted EBITDA
	(In thousands)
Angi Inc.	$	(32,622)	$	11,577	$	31,027	$	8,762	$	18,744
Dotdash	37,301		$	—	$	1,179	$	1,991	$	40,471
Search	44,048		$	—	$	8	$	—	$	44,056
Emerging & Other	(1,707)		$	50	$	790	$	19,722	$	18,855
Corporate	(82,670)		$	30,739	$	3,294	$	—	$	(48,637)
Total	(35,650)
Interest expense	(12,431)
Unrealized gain on investment in MGM Resorts International	657,638
Other income, net	53,849
Earnings before income taxes	663,406
Income tax provision	(141,136)
Net earnings from continuing operations	522,270
Loss from discontinued operations, net of tax	(1,831)
Net earnings	520,439
Net loss attributable to noncontrolling interests	3,446
Net earnings attributable to IAC shareholders	$	523,885


	Six Months Ended June 30, 2020
	Operating Income (Loss)		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Arrangements		Goodwill Impairment		Adjusted EBITDA
	(In thousands)
Angi Inc.	$	1,348	$	40,334	$	24,693	$	25,958	$	—	$	—	$	92,333
Dotdash	10,087		$	—	$	827	$	8,209	$	—	$	—	$	19,123
Search	(211,782)		$	—	$	983	$	21,400	$	—	$	211,973	$	22,574
Emerging & Other	(26,856)		$	50	$	680	$	10,457	$	(6,918)	$	—	$	(22,587)
Corporate	(166,135)		$	72,856	$	4,753	$	—	$	—	$	—	$	(88,526)
Total	(393,338)
Interest expense	(3,772)
Unrealized loss on investment in MGM Resorts International	(24,718)
Other expense, net	(54,077)
Loss before income taxes	(475,905)
Income tax benefit	71,380
Net loss from continuing operations	(404,525)
Loss from discontinued operations, net of tax	(20,110)
Net loss	(424,635)
Net loss attributable to noncontrolling interests	319
Net loss attributable to IAC shareholders	$	(424,316)

FINANCIAL STATEMENT DETAILS (Tables)

6 Months Ended

Jun. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents


	June 30, 2021		December 31, 2020		June 30, 2020		December 31, 2019
	(In thousands)
Cash and cash equivalents	$	3,476,071	$	3,366,176	$	2,445,030	$	837,916
Restricted cash included in other current assets	13,839		448		465		503
Restricted cash included in other non-current assets	730		449		413		409
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	—		110,037		2,841		1,904
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$	3,490,640	$	3,477,110	$	2,448,749	$	840,732

Schedule of Restricted Cash


	June 30, 2021		December 31, 2020		June 30, 2020		December 31, 2019
	(In thousands)
Cash and cash equivalents	$	3,476,071	$	3,366,176	$	2,445,030	$	837,916
Restricted cash included in other current assets	13,839		448		465		503
Restricted cash included in other non-current assets	730		449		413		409
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	—		110,037		2,841		1,904
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$	3,490,640	$	3,477,110	$	2,448,749	$	840,732

Schedule of Credit Losses and Revenue Reserve

The following table presents the changes in the allowance for credit losses for the six months ended June 30, 2021 and 2020, respectively:



	2021		2020
	(In thousands)
Balance at January 1	$	27,178	$	19,984
Current period provision for credit losses	42,710		40,278
Write-offs charged against the allowance	(37,181)		(34,183)
Recoveries collected	1,351		1,283
Balance at June 30	$	34,058	$	27,362

Schedule of Accumulated Amortization and Depreciation

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


Asset Category	June 30, 2021		December 31, 2020
	(In thousands)
Right-of-use assets included in other non-current assets	$	98,365	$	73,498
Building, capitalized software, leasehold improvements and equipment	$	192,858	$	207,401
Intangible assets	$	250,078	$	148,073

Schedule of Other (Expense) Income, Net

Other income (expense), net


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Unrealized increase in the estimated fair value of a warrant	$	42,481	$	590	$	55,256	$	590
Unrealized gain related to an investment following its initial public offering	10,710		—		10,710		—
Loss on the extinguishment of debt(a)	(1,110)		—		(1,110)		—
Impairments related to impact of COVID-19 (b)	—		—		—		(59,001)
Interest income	279		1,116		716		5,583
Foreign exchange gains (losses), net (c)	514		1,551		(11,118)		(112)
Other	(2,588)		54		(605)		(1,137)
Other income (expense), net	$	50,286	$	3,311	$	53,849	$	(54,077)

_____________________

(a) Represents the write-off of deferred debt issuance costs related to the ANGI Group Term Loan, which was repaid in its entirety during the second quarter of 2021.

(c) Includes $10.0 million in foreign exchange losses primarily related to the substantial liquidation of certain foreign subsidiaries in the three months ended March 31, 2021.

RELATED PARTY TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of Related Party Transactions


	Three Months Ended June 30, 2020		Six Months Ended June 30, 2020
	(In thousands)
Cash transfers to (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	$	43,705	$	(1,742,854)
Contribution of buildings to Match Group	—		34,973
Taxes	9,388		34,436
Allocation of costs from Old IAC	—		(12,652)
Interest income, net	30		102
Net decrease (increase) in Old IAC's investment in the Company prior to the MTCH Separation	$	53,123	$	(1,685,995)

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2021 USD ($) investment	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Jun. 30, 2021 USD ($) investment	Jun. 30, 2020 USD ($)	Dec. 31, 2020 USD ($) investment	Dec. 31, 2019 USD ($)
Revenue and Other [Line Items]
Goodwill impairment	$ 0	$ 0		$ 0	$ 211,973
Impairment of equity securities without readily determinable fair value		51,500	$ 51,500		51,500
Impairment of note receivable and warrant			7,500		7,500
Number of equity method investments \| investment	1			1		1
Current deferred revenue	$ 148,048			$ 148,048		$ 137,658	$ 94,700
Non-current deferred revenue	600			600		700	$ 600
Deferred revenue recognized during period				105,300	72,100
Current capitalized sales commissions	55,200			55,200		58,800
Non-current capitalized sales commissions	5,400			5,400		4,400
Consolidated revenue	829,547	659,027		1,616,117	1,286,243
Operating income	(28,420)	(97,445)		(35,650)	(393,338)
Revenue, Segment \| Customer concentration risk
Revenue and Other [Line Items]
Consolidated revenue	150,800	104,200		303,300	230,700
Google Inc. \| Revenue, Segment \| Customer concentration risk
Revenue and Other [Line Items]
Consolidated revenue	$ 169,600	$ 114,400		$ 341,400	$ 253,200
Concentration risk (as a percent)	20.00%	17.00%		21.00%	20.00%
Google Inc. \| Accounts Receivable \| Customer concentration risk
Revenue and Other [Line Items]
Accounts receivable	$ 58,700			$ 58,700		$ 61,900
Services Agreement \| Revenue, Segment \| Customer concentration risk
Revenue and Other [Line Items]
Concentration risk (as a percent)	18.00%	16.00%		19.00%	18.00%
Desktop \| B2C
Revenue and Other [Line Items]
Consolidated revenue	$ 20,900
Decrease in revenue	11,300
Increase in operating income	10,700
Operating income	14,400
Desktop \| Search
Revenue and Other [Line Items]
Goodwill impairment			212,000
Impairment of indefinite-lived intangible assets			$ 21,400
Desktop \| Revenue, Segment \| Customer concentration risk \| Search
Revenue and Other [Line Items]
Consolidated revenue	27,600	$ 37,200		$ 58,700	$ 83,300
Ask Media Group \| Revenue, Segment \| Customer concentration risk \| Search
Revenue and Other [Line Items]
Consolidated revenue	$ 123,200	$ 67,000		$ 244,600	$ 147,500

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax (provision) benefit	$ (87,825)	$ 34,403	$ (141,136)	$ 71,380
Effective income tax rate (as a percent)	30.00%	29.00%	21.00%	15.00%
Unrecognized tax benefits, including interest and penalties	$ 14,500		$ 14,500		$ 20,100
Increase (decrease) in unrecognized tax benefits, including interest and penalties during the period			5,600
Unrecognized tax benefits, if subsequently recognized would reduce income tax expense	13,400		13,400		$ 18,500
Decrease in unrecognized tax benefit, reasonably possible within twelve months	$ 100		$ 100

- Definition

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

+ References + Details

DISCONTINUED OPERATIONS - Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 0	$ 110,037	$ 2,841	$ 1,904
Total current assets of discontinued operations	0	130,477
Non-current assets
Total non-current assets of discontinued operations	0	266,547
Current liabilities
Total current liabilities of discontinued operations	0	183,988
Non-current liabilities
Total non-current liabilities of discontinued operations	0	2,972
Redeemable noncontrolling interests	$ 24,193	231,992
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff
Non-current liabilities
Redeemable noncontrolling interests		188,000
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff \| Vimeo
Current assets
Cash and cash equivalents		110,011
Accounts receivable, net		12,785
Other current assets		7,681
Total current assets of discontinued operations		130,477
Non-current assets
Leasehold improvements and equipment, net		3,321
Goodwill		219,336
Intangible assets, net		10,854
Deferred income taxes		26,216
Other non-current assets		6,820
Total non-current assets of discontinued operations		266,547
Current liabilities
Accounts payable, trade		3,324
Deferred revenue		137,436
Accrued expenses and other current liabilities		43,228
Total current liabilities of discontinued operations		183,988
Non-current liabilities
Lease liability		1,027
Other non-current liabilities		1,945
Total non-current liabilities of discontinued operations		$ 2,972

DISCONTINUED OPERATIONS - Components of Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Operating costs and expenses:
Loss from discontinued operations, net of tax	$ (11,787)	$ (8,060)	$ (1,831)	$ (20,110)
Vimeo \| Discontinued Operations, Disposed of by Means Other than Sale, Spinoff
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	56,096	67,333	145,514	124,241
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	15,039	22,900	39,995	41,257
Selling and marketing expense	22,721	26,483	54,774	51,564
General and administrative expense	9,815	8,245	23,343	19,686
Product development expense	14,176	16,262	35,651	31,555
Depreciation	68	102	182	160
Amortization of intangibles	1,096	2,915	2,983	6,038
Total operating costs and expenses	62,915	76,907	156,928	150,260
Operating loss from discontinued operations	(6,819)	(9,574)	(11,414)	(26,019)
Interest expense	(76)	0	(140)	0
Other income (expense), net	87	(162)	10,172	(222)
Loss from discontinued operations before tax	(6,808)	(9,736)	(1,382)	(26,241)
Income tax (expense) benefit	(4,979)	1,676	(449)	6,131
Loss from discontinued operations, net of tax	$ (11,787)	$ (8,060)	$ (1,831)	$ (20,110)

BUSINESS COMBINATION - Narrative (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Feb. 11, 2020	Jun. 30, 2020	Jun. 30, 2020
One-Time Transaction Costs
Business Acquisition [Line Items]
Adjustment to increase (decrease) in revenues		$ (2.2)	$ (63.1)
Deferred Revenue Write Off Adjustment
Business Acquisition [Line Items]
Adjustment to increase (decrease) in revenues		$ 4.5	$ 13.2
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

BUSINESS COMBINATION - Pro-Forma Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Business Acquisition, Pro Forma Information [Abstract]
Revenue	$ 663,572	$ 1,325,427
Net loss from continuing operations	$ (80,987)	$ (392,264)
Basic loss per share from continuing operations (USD per share)	$ (0.98)	$ (4.61)
Diluted loss per share from continuing operations (USD per share)	$ (0.98)	$ (4.61)
Net loss attributable to IAC shareholders	$ (91,101)	$ (412,056)
Basic loss per share attributable to IAC shareholders (USD per share)	$ (1.07)	$ (4.84)
Diluted loss per share attributable to IAC shareholders (USD per share)	$ (1.07)	$ (4.84)

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Fair Value of Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Marketable equity security	$ 10,810	$ 0
Available for sale marketable debt securities	0	224,979
Total marketable securities	$ 10,810	$ 224,979

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Current Available-for-Sale Marketable Securities (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Schedule of Available-for-sale Marketable Securities
Amortized Cost	$ 224,976
Gross Unrealized Gains	3
Gross Unrealized Losses	0
Fair Value	224,979
Treasury discount notes
Schedule of Available-for-sale Marketable Securities
Amortized Cost	224,976
Gross Unrealized Gains	3
Gross Unrealized Losses	0
Fair Value	$ 224,979

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) shares in Millions	3 Months Ended		6 Months Ended			12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2020	Mar. 31, 2020	Feb. 11, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gain (loss) on investment	$ 10,700,000		$ 10,700,000
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
Unrealized gain (loss) on investment in MGM Resorts International	275,098,000	$ (24,718,000)	657,638,000		$ (24,718,000)
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	21,100,000		21,100,000
Total downward adjustments to equity securities without readily determinable fair value	43,500,000		43,500,000
Earnout payment for contingent consideration arrangement						15,000,000.0
Contingent consideration arrangement liability	0		0			$ 0
Care.com
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration arrangement liability								$ 1,000,000.0
Turo
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ownership percentage						27.10%
MGM
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of equity securities purchased (in shares)				59.0
Unrealized gain (loss) on investment in MGM Resorts International	$ 275,100,000	$ (24,700,000)	$ 657,600,000		$ (24,700,000)

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Investments in MGM Resorts International (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Investment in MGM Resorts International	$ 2,517,796	$ 1,860,158

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Long-term Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Equity securities without readily determinable fair values	$ 302,984	$ 296,491
Equity method investment	2,605	1,152
Long-term investments	$ 305,589	$ 297,643

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Realized and Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Adjustments to Carrying Value of Non-Marketable Equity Securities
Upward adjustments (gross unrealized gains)	$ 0	$ 0	$ 1,376	$ 0
Downward adjustments including impairments (gross unrealized losses)	0	0	0	(51,484)
Total	0	0	1,376	(51,484)
Adjustments to Carrying Value of Non-Marketable Equity Securities
Realized (losses) gains net, for equity securities sold	0	(1)	81	11
Unrealized gains (losses), net, on equity securities held	0	0	1,376	(51,484)
Total (losses) gains, net recognized	$ 0	$ (1)	$ 1,457	$ (51,473)

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Assets:
Marketable equity security	$ 10,810,000
Marketable debt securities		$ 224,979,000
Investment in MGM	2,517,796,000	1,860,158,000
Other non-current assets	302,567,000	288,021,000
Total assets	5,659,076,000	5,087,339,000
Liabilities:
Contingent consideration arrangement	0	0
Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Marketable equity security	10,810,000
Investment in MGM	2,517,796,000	1,860,158,000
Total assets	5,598,137,000	3,629,397,000
Significant Other Observable Inputs (Level 2)
Assets:
Marketable equity security	0
Investment in MGM	0	0
Total assets	407,000	1,452,666,000
Significant Unobservable Inputs (Level 3)
Assets:
Marketable equity security	0
Investment in MGM	0	0
Total assets	60,532,000	5,276,000
Liabilities:
Contingent consideration arrangement	0	0
Money market funds
Assets:
Cash equivalents	3,069,531,000	1,769,239,000
Money market funds \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Cash equivalents	3,069,531,000	1,769,239,000
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		1,224,966,000
Marketable debt securities		224,979,000
Treasury discount notes \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Cash equivalents		0
Marketable debt securities		0
Treasury discount notes \| Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents		1,224,966,000
Marketable debt securities		224,979,000
Treasury discount notes \| Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents		0
Marketable debt securities		0
Time deposits
Assets:
Cash equivalents	407,000	2,721,000
Time deposits \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Cash equivalents	0	0
Time deposits \| Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents	407,000	2,721,000
Time deposits \| Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	0	0
Warrant
Assets:
Other non-current assets	60,532,000	5,276,000
Warrant \| Quoted Market Prices for Identical Assets in Active Markets (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	$ 60,532,000	$ 5,276,000

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		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Contingent Consideration Arrangements
Contingent Consideration Arrangements
Balance at beginning of period		$ (636)		$ (6,918)
Fair value at date of acquisition				(1,000)
Fair value adjustments included in earnings		636		6,918
Settlements				1,000
Balance at end of period		0		0
Warrant
Warrant
Balance at beginning of period	$ 18,051	6,489	$ 5,276	8,495
Fair value at date of acquisition			0	0
Fair value adjustments included in earnings	42,481	590	55,256	(1,416)
Settlements			0	0
Balance at end of period	$ 60,532	$ 7,079	$ 60,532	$ 7,079

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net	$ (494,195)	$ (712,277)
Unamortized original issue discount and debt issuance costs	5,800	7,700
Carrying Value
Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net	(494,195)	(712,277)
Fair Value
Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net	$ (495,600)	$ (725,700)

LONG-TERM DEBT - Summary (Details) - Angi Inc. - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Aug. 20, 2020
Debt Instrument [Line Items]
Total long-term debt	$ 500,000	$ 720,000
Less: unamortized debt issuance costs	5,805	7,723
Total long-term debt, net	494,195	712,277
Senior Notes \| ANGI 3.875% Senior Notes
Debt Instrument [Line Items]
Total long-term debt	500,000	500,000
Interest rate on debt instrument (as a percent)			3.875%
Term Loan \| ANGI Group Term Loan due November 5, 2023 ("ANGI Group Term Loan")
Debt Instrument [Line Items]
Total long-term debt	$ 0	$ 220,000

LONG-TERM DEBT - Narrative (Details) - Angi Inc.	12 Months Ended
LONG-TERM DEBT - Narrative (Details) - Angi Inc.	Dec. 31, 2020 USD ($)	Jun. 30, 2021 USD ($)	Nov. 05, 2018 USD ($)
Debt Instrument [Line Items]
Debt balance outstanding	$ 720,000,000	$ 500,000,000
ANGI 3.875% Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Maximum leverage ratio		3.75
Debt balance outstanding	500,000,000	$ 500,000,000
ANGI Group Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 250,000,000
ANGI Group Term Loan due November 5, 2023 ("ANGI Group Term Loan") \| Term Loan
Debt Instrument [Line Items]
Debt balance outstanding	$ 220,000,000	$ 0
Basis spread on variable rate (as a percent)	2.16%

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	$ 7,246,020,000	$ 4,396,852,000	$ 7,150,928,000	$ 3,005,146,000
Total other comprehensive income (loss), net of income taxes	1,803,000	4,177,000	12,818,000	(2,465,000)
Balance at end of period	7,745,148,000	5,146,327,000	7,745,148,000	5,146,327,000
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	4,149,000	(17,914,000)	(6,172,000)	(12,226,000)
Balance at end of period	5,686,000	(13,780,000)	5,686,000	(13,780,000)
Foreign Currency Translation Adjustment including portion attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other comprehensive income before reclassifications	1,543,000	4,288,000	1,837,000	(1,363,000)
Amounts reclassified to earnings	0	(144,000)	10,032,000	(144,000)
Total other comprehensive income (loss), net of income taxes	1,543,000	4,144,000	11,869,000	(1,507,000)
Foreign Currency Translation Adjustment attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Total other comprehensive income (loss), net of income taxes	(6,000)	(10,000)	(11,000)	(47,000)
Unrealized (Losses) Gains on Available-for-Sale Debt Securities attributable to Parent
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period		(12,000)	2,000	0
Balance at end of period	0	(1,000)	0	(1,000)
Unrealized Gains (Losses) on Available-for-Sale Debt Securities including Portion Attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other comprehensive income before reclassifications		11,000	(2,000)	(1,000)
Amounts reclassified to earnings		0	0	0
Total other comprehensive income (loss), net of income taxes		11,000	(2,000)	(1,000)
Unrealized Gains (Losses) on Available-for-Sale Debt Securities attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Total other comprehensive income (loss), net of income taxes		0	0	0
Accumulated Other Comprehensive (Loss) Income attributable to Parent
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	4,149,000	(17,926,000)	(6,170,000)	(12,226,000)
Balance at end of period	5,686,000	(13,781,000)	5,686,000	(13,781,000)
Accumulated Other Comprehensive (Loss) Income including portion attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other comprehensive income before reclassifications	1,543,000	4,299,000	1,835,000	(1,364,000)
Amounts reclassified to earnings	0	(144,000)	10,032,000	(144,000)
Total other comprehensive income (loss), net of income taxes	1,543,000	4,155,000	11,867,000	(1,508,000)
Accumulated Other Comprehensive (Loss) Income attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Total other comprehensive income (loss), net of income taxes	$ (6,000)	$ (10,000)	$ (11,000)	$ (47,000)

EARNINGS (LOSS) PER SHARE - Summary (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
	Nov. 05, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator: Basic
Net earnings (loss) from continuing operations		$ 203,325	$ (86,004)	$ 522,270	$ (404,525)
Net loss (earnings) attributable to noncontrolling interests of continuing operations		2,596	(2,118)	3,632	90
Net earnings attributed to unvested participating security		(6,929)	0	(17,721)	0
Net earnings (loss) from continuing operations attributable to IAC Common Stock and Class B common stock shareholders		198,992	(88,122)	508,181	(404,435)
Loss from discontinued operations, net of tax		(11,787)	(8,060)	(1,831)	(20,110)
Net loss (earnings) attributable to noncontrolling interests of discontinued operations		623	65	(186)	229
Net loss attributed to unvested participating security		376	0	68	0
Net loss from discontinued operations attributable to IAC Common Stock and Class B common stock shareholders		(10,788)	(7,995)	(1,949)	(19,881)
Net earnings (loss) attributable to IAC Common Stock and Class B common stock shareholders		$ 188,204	$ (96,117)	$ 506,232	$ (424,316)
Denominator: Basic
Weighted average basic IAC Common Stock and Class B common stock shares outstanding (shares)		86,157	85,132	86,029	85,132
Earnings (loss) per share: Basic
Earnings (loss) per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders (USD per share)		$ 2.31	$ (1.04)	$ 5.91	$ (4.75)
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders (USD per share)		(0.13)	(0.09)	(0.02)	(0.23)
Earnings (loss) per share attributable to IAC Common Stock shareholders and Class B common stock shareholders (USD per share)		$ 2.18	$ (1.13)	$ 5.88	$ (4.98)
Numerator: Diluted
Net earnings (loss) from continuing operations		$ 203,325	$ (86,004)	$ 522,270	$ (404,525)
Net loss (earnings) attributable to noncontrolling interests of continuing operations		2,596	(2,118)	3,632	90
Net earnings attributed to unvested participating security		(6,416)	0	(16,482)	0
Impact from public subsidiaries' dilutive securities		172	0	155	0
Net earnings (loss) from continuing operations attributable to IAC Common Stock and Class B common stock shareholders		199,677	(88,122)	509,575	(404,435)
Less: Loss from discontinued operations, net of tax		(11,787)	(8,060)	(1,831)	(20,110)
Net loss (earnings) attributable to noncontrolling interests of discontinued operations		623	65	(186)	229
Net loss attributed to unvested participating security		348	0	63	0
Net loss from discontinued operations attributable to shareholders		(10,816)	(7,995)	(1,954)	(19,881)
Net earnings (loss) attributable to IAC Common Stock and Class B common stock shareholders		$ 188,861	$ (96,117)	$ 507,621	$ (424,316)
Denominator: Diluted
Weighted average basic IAC Common Stock and Class B common stock shares outstanding (shares)		86,157	85,132	86,029	85,132
Dilutive securities (shares)		7,210	0	6,724	0
Denominator for earnings per share - weighted average shares (shares)		93,367	85,132	92,753	85,132
Earnings (loss) per share: Diluted
Earnings (loss) per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders (USD per share)		$ 2.14	$ (1.04)	$ 5.49	$ (4.75)
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders (USD per share)		(0.12)	(0.09)	(0.02)	(0.23)
Earnings (loss) per share attributable to IAC Common Stock and Class B common stock shareholders (USD per share)		$ 2.02	$ (1.13)	$ 5.47	$ (4.98)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from calculation of diluted earnings per share (less than or equal to) (shares)		3,000	5,700	3,000	5,700
Chief Executive Officer \| Restricted Stock Awards \| RSA Agreement
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares authorized for issuance (in shares)	3,000
Term of employment agreement and restricted stock agreement (in years)	10 years

SEGMENT INFORMATION - Financial Data by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Revenue	$ 829,547	$ 659,027	$ 1,616,117	$ 1,286,243
Operating (loss) income	(28,420)	(97,445)	(35,650)	(393,338)
Operating segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	420,988	375,061	808,017	718,711
Operating (loss) income	(32,731)	17,644	(32,622)	1,348
Adjusted EBITDA	(4,442)	57,936	18,744	92,333
Operating segments \| Dotdash
Segment Reporting Information [Line Items]
Revenue	73,333	44,621	138,754	88,741
Operating (loss) income	19,174	7,676	37,301	10,087
Adjusted EBITDA	20,549	12,112	40,471	19,123
Operating segments \| Search
Segment Reporting Information [Line Items]
Revenue	183,607	131,263	364,641	285,682
Operating (loss) income	25,662	8,781	44,048	(211,782)
Adjusted EBITDA	25,670	9,444	44,056	22,574
Operating segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	151,656	108,127	304,812	193,169
Operating (loss) income	(2,701)	(8,986)	(1,707)	(26,856)
Adjusted EBITDA	6,891	(2,628)	18,855	(22,587)
Inter-segment eliminations
Segment Reporting Information [Line Items]
Revenue	(37)	(45)	(107)	(60)
Corporate
Segment Reporting Information [Line Items]
Operating (loss) income	(37,824)	(122,560)	(82,670)	(166,135)
Adjusted EBITDA	$ (22,289)	$ (57,194)	$ (48,637)	$ (88,526)

SEGMENT INFORMATION - Revenue Disaggregated by Service (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Revenue	$ 829,547	$ 659,027	$ 1,616,117	$ 1,286,243
Operating segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	420,988	375,061	808,017	718,711
Operating segments \| Angi Inc. \| North America
Segment Reporting Information [Line Items]
Revenue	399,945	357,417	760,986	681,549
Operating segments \| Angi Inc. \| North America \| Marketplace revenue
Segment Reporting Information [Line Items]
Revenue	327,597	293,173	618,647	551,949
Operating segments \| Angi Inc. \| North America \| Consumer connection revenue
Segment Reporting Information [Line Items]
Revenue	240,016	242,015	461,447	450,619
Operating segments \| Angi Inc. \| North America \| Angi Services revenue
Segment Reporting Information [Line Items]
Revenue	72,819	32,095	127,505	64,956
Operating segments \| Angi Inc. \| North America \| Service professional membership subscription revenue
Segment Reporting Information [Line Items]
Revenue	12,390	13,017	24,342	26,794
Operating segments \| Angi Inc. \| North America \| Other revenue
Segment Reporting Information [Line Items]
Revenue	2,372	6,046	5,353	9,580
Operating segments \| Angi Inc. \| North America \| Advertising and other revenue
Segment Reporting Information [Line Items]
Revenue	72,348	64,244	142,339	129,600
Operating segments \| Angi Inc. \| Europe
Segment Reporting Information [Line Items]
Revenue	21,043	17,644	47,031	37,162
Operating segments \| Angi Inc. \| Europe \| Consumer connection revenue
Segment Reporting Information [Line Items]
Revenue	17,345	13,945	39,696	29,634
Operating segments \| Angi Inc. \| Europe \| Service professional membership subscription revenue
Segment Reporting Information [Line Items]
Revenue	3,331	3,215	6,659	6,514
Operating segments \| Angi Inc. \| Europe \| Advertising and other revenue
Segment Reporting Information [Line Items]
Revenue	367	484	676	1,014
Operating segments \| Dotdash
Segment Reporting Information [Line Items]
Revenue	73,333	44,621	138,754	88,741
Operating segments \| Dotdash \| Total advertising revenue
Segment Reporting Information [Line Items]
Revenue	44,932	26,601	82,103	56,490
Operating segments \| Dotdash \| Performance marketing revenue
Segment Reporting Information [Line Items]
Revenue	28,401	18,020	56,651	32,251
Operating segments \| Search
Segment Reporting Information [Line Items]
Revenue	183,607	131,263	364,641	285,682
Operating segments \| Search \| Total advertising revenue
Segment Reporting Information [Line Items]
Revenue	179,717	126,614	356,669	276,787
Operating segments \| Search \| Google advertising revenue
Segment Reporting Information [Line Items]
Revenue	153,517	105,283	308,935	232,080
Operating segments \| Search \| Non-Google advertising revenue
Segment Reporting Information [Line Items]
Revenue	26,200	21,331	47,734	44,707
Operating segments \| Search \| Other revenue
Segment Reporting Information [Line Items]
Revenue	3,890	4,649	7,972	8,895
Operating segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	151,656	108,127	304,812	193,169
Operating segments \| Emerging & Other \| Marketplace revenue
Segment Reporting Information [Line Items]
Revenue	53,888	30,539	110,159	48,235
Operating segments \| Emerging & Other \| Total advertising revenue
Segment Reporting Information [Line Items]
Revenue	4,469	3,013	8,433	7,560
Operating segments \| Emerging & Other \| Google advertising revenue
Segment Reporting Information [Line Items]
Revenue	550	511	1,121	1,345
Operating segments \| Emerging & Other \| Non-Google advertising revenue
Segment Reporting Information [Line Items]
Revenue	3,919	2,502	7,312	6,215
Operating segments \| Emerging & Other \| Subscription revenue
Segment Reporting Information [Line Items]
Revenue	88,664	72,934	172,230	133,605
Operating segments \| Emerging & Other \| Media production and distribution revenue
Segment Reporting Information [Line Items]
Revenue	2,624	543	10,412	1,929
Operating segments \| Emerging & Other \| Service and other revenue
Segment Reporting Information [Line Items]
Revenue	$ 2,011	$ 1,098	$ 3,578	$ 1,840

SEGMENT INFORMATION - Geographic Information about Revenue and Long-Lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Revenue and long-lived assets by geography
Revenue	$ 829,547	$ 659,027	$ 1,616,117	$ 1,286,243
Long-lived assets (excluding goodwill and intangible assets)	273,555		273,555		$ 274,930
United States
Revenue and long-lived assets by geography
Revenue	704,218	553,910	1,359,253	1,061,702
Long-lived assets (excluding goodwill and intangible assets)	264,006		264,006		263,620
All other countries
Revenue and long-lived assets by geography
Revenue	125,329	$ 105,117	256,864	$ 224,541
Long-lived assets (excluding goodwill and intangible assets)	$ 9,549		$ 9,549		$ 11,310

- 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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123351226&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=123359005&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=123359005&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=123359005&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=123351226&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		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting, Other Significant Reconciling Item [Line Items]
Operating (loss) income	$ (28,420)	$ (97,445)	$ (35,650)	$ (393,338)
Stock-based Compensation Expense	24,051	77,861	42,366	113,240
Depreciation	17,112	16,502	36,298	31,936
Amortization of Intangibles	13,636	23,388	30,475	66,024
Goodwill Impairment	0	0	0	211,973
Interest expense	(5,814)	(1,555)	(12,431)	(3,772)
Unrealized gain (loss) on investment in MGM Resorts International	275,098	(24,718)	657,638	(24,718)
Other income (expense), net	50,286	3,311	53,849	(54,077)
Earnings (loss) from continuing operations before income taxes	291,150	(120,407)	663,406	(475,905)
Income tax (provision) benefit	(87,825)	34,403	(141,136)	71,380
Net earnings (loss) from continuing operations	203,325	(86,004)	522,270	(404,525)
Loss from discontinued operations, net of tax	(11,787)	(8,060)	(1,831)	(20,110)
Net earnings (loss)	191,538	(94,064)	520,439	(424,635)
Net loss (earnings) attributable to noncontrolling interests	3,219	(2,053)	3,446	319
Net earnings (loss) attributable to IAC shareholders	194,757	(96,117)	523,885	(424,316)
Operating segments \| Angi Inc.
Segment Reporting, Other Significant Reconciling Item [Line Items]
Operating (loss) income	(32,731)	17,644	(32,622)	1,348
Stock-based Compensation Expense	9,543	14,759	11,577	40,334
Depreciation	15,058	12,555	31,027	24,693
Amortization of Intangibles	3,688	12,978	8,762	25,958
Acquisition-related Contingent Consideration Fair Value Arrangements		0		0
Goodwill Impairment				0
Adjusted EBITDA	(4,442)	57,936	18,744	92,333
Operating segments \| Dotdash
Segment Reporting, Other Significant Reconciling Item [Line Items]
Operating (loss) income	19,174	7,676	37,301	10,087
Stock-based Compensation Expense	0	0	0	0
Depreciation	630	617	1,179	827
Amortization of Intangibles	745	3,819	1,991	8,209
Acquisition-related Contingent Consideration Fair Value Arrangements		0		0
Goodwill Impairment				0
Adjusted EBITDA	20,549	12,112	40,471	19,123
Operating segments \| Search
Segment Reporting, Other Significant Reconciling Item [Line Items]
Operating (loss) income	25,662	8,781	44,048	(211,782)
Stock-based Compensation Expense	0	0	0	0
Depreciation	8	663	8	983
Amortization of Intangibles	0	0	0	21,400
Acquisition-related Contingent Consideration Fair Value Arrangements		0		0
Goodwill Impairment				211,973
Adjusted EBITDA	25,670	9,444	44,056	22,574
Operating segments \| Emerging & Other
Segment Reporting, Other Significant Reconciling Item [Line Items]
Operating (loss) income	(2,701)	(8,986)	(1,707)	(26,856)
Stock-based Compensation Expense	25	25	50	50
Depreciation	364	378	790	680
Amortization of Intangibles	9,203	6,591	19,722	10,457
Acquisition-related Contingent Consideration Fair Value Arrangements		(636)		(6,918)
Goodwill Impairment				0
Adjusted EBITDA	6,891	(2,628)	18,855	(22,587)
Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Operating (loss) income	(37,824)	(122,560)	(82,670)	(166,135)
Stock-based Compensation Expense	14,483	63,077	30,739	72,856
Depreciation	1,052	2,289	3,294	4,753
Amortization of Intangibles	0	0	0	0
Acquisition-related Contingent Consideration Fair Value Arrangements		0		0
Goodwill Impairment				0
Adjusted EBITDA	$ (22,289)	$ (57,194)	$ (48,637)	$ (88,526)

FINANCIAL STATEMENT DETAILS - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 3,476,071	$ 3,366,176	$ 2,445,030	$ 837,916
Restricted cash included in other current assets	13,839	448	465	503
Restricted cash included in other non-current assets	730	449	413	409
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	0	110,037	2,841	1,904
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$ 3,490,640	$ 3,477,110	$ 2,448,749	$ 840,732

FINANCIAL STATEMENT DETAILS - Allowance for Credit Loss (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1	$ 27,178	$ 19,984
Current period provision for credit losses	42,710	40,278
Write-offs charged against the allowance	(37,181)	(34,183)
Recoveries collected	1,351	1,283
Balance at June 30	$ 34,058	$ 27,362

FINANCIAL STATEMENT DETAILS - Accumulated Amortization and Depreciation (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Depreciation, Depletion and Amortization [Abstract]
Right-of-use assets included in other non-current assets	$ 98,365	$ 73,498
Building, capitalized software, leasehold improvements and equipment	192,858	207,401
Intangible assets	$ 250,078	$ 148,073

FINANCIAL STATEMENT DETAILS - Other (Expense) Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unrealized increase in the estimated fair value of a warrant	$ 42,481	$ 590		$ 55,256	$ 590
Unrealized gain related to an investment following its initial public offering	10,710	0		10,710	0
Loss on the extinguishment of debt	(1,110)	0		(1,110)	0
Impairments related to impact of COVID-19	0	0		0	(59,001)
Interest income	279	1,116		716	5,583
Foreign exchange gains (losses), net (c)	514	1,551		(11,118)	(112)
Other	(2,588)	54		(605)	(1,137)
Other income (expense), net	50,286	3,311		$ 53,849	(54,077)
Impairment of equity securities without readily determinable fair value		$ 51,500	$ 51,500		51,500
Impairment of note receivable and warrant			$ 7,500		$ 7,500
Foreign exchange losses due to substantial liquidation of certain foreign subsidiaries	$ 10,000

CONTINGENCIES - Narrative (Details) - Tinder Optionholder Litigation $ in Billions			1 Months Ended	12 Months Ended
	Jul. 01, 2020 plaintiff	Aug. 31, 2018 plaintiff	Aug. 31, 2018 USD ($) plaintiff	Dec. 31, 2017 bank
Loss Contingencies [Line Items]
Number of plaintiffs	6	6	10
Number of investment banks involved \| bank				2
Number of plaintiffs who filed a notice of discontinuance of their claims without prejudice	4	4
Pending Litigation \| Minimum
Loss Contingencies [Line Items]
Damages sought \| $			$ 2

RELATED PARTY TRANSACTIONS - Narrative (Details)		1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
RELATED PARTY TRANSACTIONS - Narrative (Details)	Jan. 31, 2020 building	Jun. 30, 2021 USD ($)	Jun. 30, 2021 USD ($) shares	Jun. 30, 2020 USD ($) shares	Jun. 30, 2021 USD ($) plane shares	Jun. 30, 2020 USD ($) shares	Dec. 31, 2019 USD ($)	Dec. 31, 2020 USD ($)	Mar. 31, 2020 USD ($)
Related Party Transaction [Line Items]
Notes receivable from related parties							$ 55,300,000		$ 27,200,000
Old IAC
Related Party Transaction [Line Items]
Allocated costs from related party				$ 61,500,000		$ 85,500,000
Interest income from related party (less than)				100,000		100,000
Expenses from transactions with related party				0		12,652,000
Old MTCH \| Sold Office Space
Related Party Transaction [Line Items]
Expenses from transactions with related party				$ 100,000		100,000
Number of office buildings transferred to related party \| building	2
Old MTCH \| Sublease Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party			$ 500,000		$ 1,400,000
New IAC \| Services Agreement
Related Party Transaction [Line Items]
Due from (to) related party		$ 0	$ 0		$ 0			$ 0
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%		50.00%
Number of aircraft operated \| plane					2
Expected costs from transactions with related party							$ 72,700,000
Proportion of total purchase price and refurbish costs paid in related party transaction (as a percent)							50.00%
Proportion of ownership interest held each by entity and by related party in another entity employing flight crew (as a percent)		50.00%	50.00%		50.00%
Angi Inc. \| ANGI \| Employee Matters Agreement
Related Party Transaction [Line Items]
Stock received from related party (shares) \| shares				0
Angi Inc. \| New IAC \| Services Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party			$ 1,200,000	$ 1,200,000	$ 2,300,000	2,400,000
Angi Inc. \| New IAC \| Tax Sharing Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party			0	3,100,000	0	3,100,000
Outstanding payables due (less than)		$ 1,500,000	1,500,000		1,500,000			900,000
Angi Inc. \| New IAC \| Sublease Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party			400,000	$ 400,000	800,000	$ 900,000
Outstanding payables due (less than)		$ 0	$ 0		$ 0			$ 100,000
IAC and Vimeo \| Mr. Diller
Related Party Transaction [Line Items]
Voting interests		0.10	0.10		0.10
Vimeo \| Vimeo \| Tax Sharing Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party		$ 0
Due from (to) related party		0	$ 0		$ 0
Vimeo \| Vimeo \| Transition Services Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party		200,000
Due from (to) related party		0	0		0
Vimeo \| Vimeo \| Employee Benefit Plans Participation
Related Party Transaction [Line Items]
Due from related party		3,000,000.0	3,000,000.0		3,000,000.0
Vimeo \| Vimeo \| Lease Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party		400,000
Due from related party		$ 0	$ 0		$ 0
Class B common stock \| Angi Inc. \| ANGI \| Employee Matters Agreement
Related Party Transaction [Line Items]
Stock received from related party (shares) \| shares			100,000		100,000	200,000
Common Stock \| Old MTCH \| Sold Office Space
Related Party Transaction [Line Items]
Noncash financial or equity instrument consideration (in shares) \| shares						1,400,000
Common Stock \| Angi Inc. \| ANGI \| Employee Matters Agreement
Related Party Transaction [Line Items]
Stock received from related party (shares) \| shares			100,000	0	2,600,000	0

RELATED PARTY TRANSACTIONS - Components of Net Increase (Decrease) in IAC Investment in IAC Holdings (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Related Party Transaction [Line Items]
Taxes	$ (87,825)	$ 34,403	$ (141,136)	$ 71,380
Old IAC
Related Party Transaction [Line Items]
Cash transfers to (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		43,705		(1,742,854)
Contribution of buildings to Match Group		0		34,973
Taxes		9,388		34,436
Allocation of costs from Old IAC		0		(12,652)
Interest income, net		30		102
Net decrease (increase) in Old IAC's investment in the Company prior to the MTCH Separation		$ 53,123		$ (1,685,995)

- Definition

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

+ References + Details

SUBSEQUENT EVENT (Details)	Nov. 05, 2018 USD ($)
ANGI Group Credit Facility \| Angi Inc. \| Revolving Credit Facility
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 250,000,000