0001800227-22-000007 | 10-K | XBRL Viewer

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CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 2,118,730	$ 3,366,176
Marketable securities	19,788	224,979
Accounts receivable, net of allowance and reserves of $39,719 and $29,240 , respectively	693,208	257,668
Other current assets	242,188	140,022
Current assets of discontinued operations	0	130,477
Total current assets	3,073,914	4,119,322
Buildings, capitalized software, leasehold improvements, equipment and land, net	570,525	274,930
Goodwill	3,226,610	1,660,102
Intangible assets, net of accumulated amortization	1,414,892	394,986
Investment in MGM Resorts International	2,649,442	1,860,158
Long-term investments	327,838	297,643
Other non-current assets	1,037,067	288,021
Non-current assets of discontinued operations	0	266,547
TOTAL ASSETS	12,300,288	9,161,709
LIABILITIES:
Current portion of long-term debt	30,000	0
Accounts payable, trade	203,173	88,849
Deferred revenue	24,100	137,658
Accrued expenses and other current liabilities	980,574	340,406
Current liabilities of discontinued operations	0	183,988
Total current liabilities	1,379,198	750,901
Long-term debt, net	2,046,237	712,277
Deferred income taxes	385,890	78,789
Other long-term liabilities	721,262	233,850
Non-current liabilities of discontinued operations	0	2,972
Redeemable noncontrolling interests	18,741	231,992
Commitments and contingencies
SHAREHOLDERS' EQUITY:
Additional paid-in capital	6,265,669	5,909,614
Retained earnings	905,151	694,042
Accumulated other comprehensive income (loss)	4,397	(6,170)
Total IAC shareholders' equity	7,175,226	6,597,575
Noncontrolling interests	573,734	553,353
Total shareholders' equity	7,748,960	7,150,928
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	12,300,288	9,161,709
Common Stock, $0.0001 par value; authorized 1,600,000 shares; 83,922 issued and outstanding at December 31, 2021
SHAREHOLDERS' EQUITY:
Common stock, value	8	0
Class B common stock, $0.0001 par value; authorized 400,000 shares; 5,789 issued and outstanding at December 31, 2021
SHAREHOLDERS' EQUITY:
Common stock, value	1	0
Common Stock $0.001 par value; authorized 1,600,000 shares; 82,976 shares issued and outstanding at December 31, 2020
SHAREHOLDERS' EQUITY:
Common stock, value	0	83
Class B common stock $0.001 par value; authorized 400,000 shares; 5,789 shares issued and outstanding at December 31, 2020
SHAREHOLDERS' EQUITY:
Common stock, value	$ 0	$ 6

CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts receivable, allowance for credit loss, current	$ 39,719	$ 29,240
Common Stock, $0.0001 par value; authorized 1,600,000 shares; 83,922 issued and outstanding at December 31, 2021
Common stock, par value (USD per share)	$ 0.0001
Common stock authorized (in shares)	1,600,000,000
Common stock issued (in shares)	83,922,000
Common stock outstanding (in shares)	83,922,000
Class B common stock, $0.0001 par value; authorized 400,000 shares; 5,789 issued and outstanding at December 31, 2021
Common stock, par value (USD per share)	$ 0.0001
Common stock authorized (in shares)	400,000,000
Common stock issued (in shares)	5,789,000
Common stock outstanding (in shares)	5,789,000
Common Stock $0.001 par value; authorized 1,600,000 shares; 82,976 shares issued and outstanding at December 31, 2020
Common stock, par value (USD per share)		$ 0.001
Common stock authorized (in shares)		1,600,000,000
Common stock issued (in shares)		82,976,000
Common stock outstanding (in shares)		82,976,000
Class B common stock $0.001 par value; authorized 400,000 shares; 5,789 shares issued and outstanding at December 31, 2020
Common stock, par value (USD per share)		$ 0.001
Common stock authorized (in shares)		400,000,000
Common stock issued (in shares)		5,789,000
Common stock outstanding (in shares)		5,789,000

CONSOLIDATED AND COMBINED STATEMENT OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue	$ 3,699,627	$ 2,764,536	$ 2,509,980
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	1,306,972	750,686	547,660
Selling and marketing expense	1,362,300	1,165,456	1,117,885
General and administrative expense	797,448	745,235	573,057
Product development expense	220,120	180,014	132,640
Depreciation	75,015	68,823	55,471
Amortization of intangibles	74,839	126,839	74,215
Goodwill impairment	0	265,146	3,318
Total operating costs and expenses	3,836,694	3,302,199	2,504,246
Operating (loss) income	(137,067)	(537,663)	5,734
Interest expense	(34,264)	(16,166)	(11,904)
Unrealized gain on investment in MGM Resorts International	789,283	840,550	0
Other income (expense), net	111,854	(42,561)	40,487
Earnings from continuing operations before income taxes	729,806	244,160	34,317
Income tax (provision) benefit	(138,990)	45,707	47,349
Net earnings from continuing operations	590,816	289,867	81,666
Loss from discontinued operations, net of tax	(1,831)	(21,281)	(49,483)
Net earnings	588,985	268,586	32,183
Net loss (earnings) attributable to noncontrolling interests	8,562	1,140	(9,288)
Net earnings attributable to IAC shareholders	$ 597,547	$ 269,726	$ 22,895
Per share information from continuing operations:
Basic earnings per share (USD per share)	$ 6.72	$ 3.40	$ 0.84
Diluted earnings per share (USD per share)	6.33	3.20	0.84
Per share information attributable to IAC Common Stock and Class B common stock shareholders:
Basic earnings per share (USD per share)	6.70	3.16	0.27
Diluted earnings per share (USD per share)	$ 6.31	$ 2.97	$ 0.27
Stock-based compensation expense by function:
Stock-based compensation expense	$ 79,487	$ 188,995	$ 130,228
Cost of revenue
Stock-based compensation expense by function:
Stock-based compensation expense	78	118	61
Selling and marketing expense
Stock-based compensation expense by function:
Stock-based compensation expense	5,009	5,265	4,642
General and administrative expense
Stock-based compensation expense by function:
Stock-based compensation expense	67,664	177,451	116,594
Product development expense
Stock-based compensation expense by function:
Stock-based compensation expense	$ 6,736	$ 6,161	$ 8,931

CONSOLIDATED AND COMBINED STATEMENT OF COMPREHENSIVE OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net earnings	$ 588,985	$ 268,586	$ 32,183
Other comprehensive income, net of income taxes:
Change in foreign currency translation adjustment	10,466	7,810	311
Change in unrealized gains and losses on available-for-sale marketable debt securities	(2)	2	(3)
Total other comprehensive income, net of income taxes	10,464	7,812	308
Comprehensive income, net of income taxes	599,449	276,398	32,491
Components of comprehensive loss (income) attributable to noncontrolling interests:
Net loss (earnings) attributable to noncontrolling interests	8,562	1,140	(9,288)
Change in foreign currency translation adjustment attributable to noncontrolling interests	93	(1,718)	26
Change in unrealized gains and losses of available-for-sale marketable debt securities attributable to noncontrolling interests	0	0	1
Comprehensive loss (income) attributable to noncontrolling interests	8,655	(578)	(9,261)
Comprehensive income attributable to IAC shareholders	$ 608,104	$ 275,820	$ 23,230

CONSOLIDATED STATEMENT OF SHAREHOLDERS' AND COMBINED STATEMENT OF PARENT'S EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Redeemable Noncontrolling Interests	Total IAC Shareholders' Equity	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	Retained Earnings	Invested Capital	Accumulated Other Comprehensive (Loss) Income	Noncontrolling Interests
Balance at beginning of period at Dec. 31, 2018		$ 65,687
Increase (Decrease) in Temporary Equity [Roll Forward]
Net earnings		3,168
Other comprehensive income (loss), net of income taxes		39
Stock-based compensation expense		148
Distribution to and purchase of noncontrolling interests		(40,432)
Noncontrolling interests created in acquisitions		3,739
Adjustment of noncontrolling interests to fair value		11,554
Other		(85)
Balance at end of period at Dec. 31, 2019		43,818
Balance at beginning of period at Dec. 31, 2018	$ 2,684,400		$ 2,284,042			$ 0	$ 0	$ 0	$ 0	$ 2,296,583	$ (12,541)	$ 400,358
Balance at beginning of period (shares) at Dec. 31, 2018						0	0
Increase (Decrease) in Shareholders' Equity
Net earnings	29,015		22,895							22,895		6,120
Other comprehensive income (loss), net of income taxes	269		335								335	(66)
Stock-based compensation expense	131,708		65,893							65,893		65,815
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(34,722)		(32,616)							(32,596)	(20)	(2,106)
Purchase of Angi Inc. treasury stock	(57,949)		(57,949)							(57,949)
Adjustment of noncontrolling interests to fair value	(11,554)		(11,554)							(11,554)
Net increase in Old IAC's investment in the Company	263,979		263,979							263,979
Balance at end of period at Dec. 31, 2019	3,005,146		2,535,025			$ 0	$ 0	0	0	2,547,251	(12,226)	470,121
Balance at end of period (shares) at Dec. 31, 2019						0	0
Increase (Decrease) in Temporary Equity [Roll Forward]
Net earnings		(1,434)
Other comprehensive income (loss), net of income taxes		439
Stock-based compensation expense		15
Distribution to and purchase of noncontrolling interests		(3,515)
Noncontrolling interests created in acquisitions		1,121
Issuance of Vimeo common stock and creation of noncontrolling interests, net of fees		8,299
Adjustment of noncontrolling interests to fair value		183,315
Other		(66)
Balance at end of period at Dec. 31, 2020	231,992	231,992
Increase (Decrease) in Shareholders' Equity
Net earnings	270,020		269,726						694,042	(424,316)		294
Other comprehensive income (loss), net of income taxes	7,373		6,094								6,094	1,279
Stock-based compensation expense	199,028		113,761					40,870		72,891		85,267
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(83,382)		(83,382)			$ 1		(83,383)		1,248	(38)	(3,183)
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (shares)						633
Purchase of Angi Inc. treasury stock	(64,132)		(64,132)					(9,273)		(54,859)
Issuance of Vimeo common stock and creation of noncontrolling interests, net of fees	141,301		141,301					141,301
Distribution to and purchase of noncontrolling interests	(1,115)											(1,115)
Adjustment of noncontrolling interests to fair value	(183,315)		(183,315)					(178,508)		(4,807)
Net increase in Old IAC's investment in the Company	1,685,995		1,685,995							1,685,995
Proceeds from the sale of Old IAC Class M common stock from New Match	1,408,298		1,408,298					1,408,298
Cash merger consideration paid by Old IAC	837,913		837,913							837,913
Capitalization as a result of the MTCH Separation	0					$ 79	$ 6	4,661,231		(4,661,316)
Capitalization as a result of the MTCH Separation (shares)						79,343	5,789
Issuance of restricted stock	0					$ 3		(3)
Issuance of restricted stock (shares)						3,000
Adjustment to the capitalization of tax accounts as a result of the MTCH Separation	(8,259)		(8,259)					(8,259)
Other	199		(491)					(491)				690
Balance at end of period at Dec. 31, 2020	7,150,928		6,597,575	$ 0	$ 0	$ 83	$ 6	5,909,614	694,042	$ 0	(6,170)	553,353
Balance at end of period (shares) at Dec. 31, 2020				0	0	82,976	5,789
Increase (Decrease) in Temporary Equity [Roll Forward]
Net earnings		1,732
Other comprehensive income (loss), net of income taxes		515
Distribution to and purchase of noncontrolling interests		(29,769)
Issuance of Vimeo common stock and creation of noncontrolling interests, net of fees		40,785
Adjustment of noncontrolling interests to fair value		777,688
Elimination of Vimeo noncontrolling interests		(1,002,324)
Other		(1,878)
Balance at end of period at Dec. 31, 2021	18,741	$ 18,741
Increase (Decrease) in Shareholders' Equity
Net earnings	587,253		597,547						597,547			(10,294)
Other comprehensive income (loss), net of income taxes	9,911		10,519								10,519	(608)
Stock-based compensation expense	92,340		59,283					59,283				33,057
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(61,223)		(59,609)					(59,619)			10	(1,614)
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (shares)				564		382
Purchase of Angi Inc. treasury stock	(35,959)		(35,959)					(35,959)
Issuance of Vimeo common stock and creation of noncontrolling interests, net of fees	258,965		258,965					258,965
Distribution to and purchase of noncontrolling interests	(570)											(570)
Adjustment of noncontrolling interests to fair value	(777,688)		(777,688)					(777,688)
Recapitalization of IAC upon Vimeo spin-off	0			$ 8	$ 1	$ (83)	$ (6)	80
Recapitalization of IAC upon Vimeo spin-Off (shares)				83,358	5,789	(83,358)	(5,789)
Spin-off of IAC's investment in Vimeo	(386,438)		(386,438)					(38)	(386,438)		38
Elimination of Vimeo noncontrolling interests	1,002,324		1,002,324					1,002,324
Change in the MTCH Separation tax account distribution	7,640		7,640					7,640
Other	168		(242)					(242)				410
Balance at end of period at Dec. 31, 2021	$ 7,748,960		$ 7,175,226	$ 8	$ 1	$ 0	$ 0	$ 6,265,669	$ 905,151		$ 4,397	$ 573,734
Balance at end of period (shares) at Dec. 31, 2021				83,922	5,789	0	0

CONSOLIDATED STATEMENT OF SHAREHOLDERS' AND COMBINED STATEMENT OF PARENT'S EQUITY (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Common Stock, $0.0001 par value
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
Common Stock, $0.001 par value
Common stock, par value (USD per share)		$ 0.001
Class B Common Stock, $0.001 par value
Common stock, par value (USD per share)		0.001
Common Stock \| Common Stock, $0.0001 par value
Common stock, par value (USD per share)	0.0001
Common Stock \| Class B Common Stock, $0.0001 par value
Common stock, par value (USD per share)	0.0001
Common Stock \| Common Stock, $0.001 par value
Common stock, par value (USD per share)	0.001	0.001	$ 0.001
Common Stock \| Class B Common Stock, $0.001 par value
Common stock, par value (USD per share)	$ 0.001	$ 0.001	$ 0.001

CONSOLIDATED AND COMBINED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities attributable to continuing operations:
Net earnings	$ 588,985	$ 268,586	$ 32,183
Less: Loss from discontinued operations, net of tax	(1,831)	(21,281)	(49,483)
Net earnings from continuing operations	590,816	289,867	81,666
Adjustments to reconcile net earnings to net cash provided by operating activities attributable to continuing operations:
Stock-based compensation expense	79,487	188,995	130,228
Amortization of intangibles	74,839	126,839	74,215
Depreciation	75,015	68,823	55,471
Provision for credit losses	89,893	78,931	64,478
Goodwill impairment	0	265,146	3,318
Deferred income taxes	133,377	(18,356)	(49,374)
Unrealized gain on investment in MGM Resorts International	(789,283)	(840,550)	0
(Gains) losses on investments in equity securities, net	(40,626)	41,112	(39,388)
Unrealized (increase) decrease in the estimated fair value of a warrant	(104,018)	3,219	9,123
Non-cash lease expense (including right-of-use asset impairments)	35,737	30,026	21,258
Pension and postretirement benefit expense	18,212	0	0
Other adjustments, net	50,593	16,113	(7,735)
Changes in assets and liabilities, net of effects of acquisitions and dispositions:
Accounts receivable	(156,971)	(131,703)	(72,109)
Other assets	4,185	(24,762)	(6,723)
Operating lease liabilities	(30,995)	(29,841)	(22,421)
Accounts payable and other liabilities	82,849	35,960	22,473
Income taxes payable and receivable	(2,506)	(11,580)	4
Deferred revenue	8,296	25,140	10,851
Net cash provided by operating activities attributable to continuing operations	118,900	113,379	275,335
Cash flows from investing activities attributable to continuing operations:
Acquisitions, net of cash acquired	(2,699,643)	(685,216)	(28,439)
Capital expenditures	(90,210)	(60,726)	(95,097)
Proceeds from maturities of marketable debt securities	225,000	475,000	25,000
Purchases of marketable debt securities	0	(649,828)	0
Cash distribution related to the spin-off of IAC's investment in Vimeo	(333,184)	0	0
Net proceeds from the sale of businesses and investments	16,451	26,055	166,440
Purchases of investment in MGM Resorts International	0	(1,019,608)	0
Purchases of investments	(24,290)	(1,152)	(253,663)
Decrease (increase) in notes receivable - related party	0	54,828	(54,828)
Other, net	(1,627)	(11,536)	(9,086)
Net cash used in investing activities attributable to continuing operations	(2,907,503)	(1,872,183)	(249,673)
Cash flows from financing activities attributable to continuing operations:
Proceeds from the issuance of Dotdash Meredith Term Loans	1,600,000	0	0
Proceeds from the issuance of ANGI Group Senior Notes	0	500,000	0
Principal payments on ANGI Group Term Loan	(220,000)	(27,500)	(13,750)
Principal payments on related-party debt	0	0	(2,500)
Debt issuance costs	(23,548)	(6,484)	0
Purchase of Angi Inc. treasury stock	(35,403)	(63,674)	(56,905)
Proceeds from the exercise of IAC stock options	1,496	0	0
Proceeds from the exercise of Angi Inc. stock options	0	0	573
Distributions to and purchases of noncontrolling interests	(30,339)	(4,280)	(24,595)
Cash merger consideration paid by Old IAC in connection with the MTCH Separation	0	837,913	0
Transfers from Old IAC for periods prior to the MTCH Separation	0	1,706,479	263,281
Proceeds from the sale of Old IAC Class M common stock	0	1,408,298	0
Other, net	(18,578)	1,095	(3,795)
Net cash provided by financing activities attributable to continuing operations	1,115,737	4,202,665	127,025
Total cash (used in) provided by continuing operations	(1,672,866)	2,443,861	152,687
Net cash provided by (used in) operating activities attributable to discontinued operations	18,053	41,202	(23,535)
Net cash provided by (used in) investing activities attributable to discontinued operations	7,602	42	(172,195)
Net cash provided by (used in) financing activities attributable to discontinued operations	293,577	149,254	(2,939)
Total cash provided by (used in) discontinued operations	319,232	190,498	(198,669)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(1,612)	2,019	(122)
Net (decrease) increase in cash and cash equivalents and restricted cash	(1,355,246)	2,636,378	(46,104)
Cash and cash equivalents and restricted cash at beginning of period	3,477,110	840,732	886,836
Cash and cash equivalents and restricted cash at end of period	2,121,864	3,477,110	840,732
IAC employees
Cash flows from financing activities attributable to continuing operations:
Withholding taxes paid on behalf of employees on net settled stock-based awards	(95,983)	(85,103)	0
Angi Inc. employees
Cash flows from financing activities attributable to continuing operations:
Withholding taxes paid on behalf of employees on net settled stock-based awards	$ (61,908)	$ (64,079)	$ (35,284)

ORGANIZATION	12 Months Ended
ORGANIZATION	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Company overview IAC today is comprised of Dotdash Meredith, Angi Inc. and Care.com, as well as a number of other businesses ranging from early stage to established. 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). Dotdash Meredith On December 1, 2021, Dotdash Media Inc. (formerly known as About Inc., "Dotdash"), a wholly owned subsidiary of IAC/InterActiveCorp ("IAC"), completed the acquisition of Meredith Holdings Corporation ("Meredith"), which holds Meredith Corporation's national media business, which is comprised of its digital and magazine businesses, and its corporate operations. The parent of the combined entity is Dotdash Meredith, Inc. ("Dotdash Meredith"). See “Note 5—Business Combinations” for a description of the acquisition of Meredith. Dotdash Meredith is one of the largest digital and print publishers in America. From mobile to magazines, nearly 200 million people trust us to help them make decisions, take action, and find inspiration. Dotdash Meredith's over 40 iconic brands include PEOPLE, Better Homes & Gardens, Verywell, FOOD & WINE, The Spruce, Allrecipes, Byrdie, REAL SIMPLE, Investopedia, and Southern Living. Dotdash Meredith has two operating segments: (i) Digital, which includes its digital and mobile operations; and (ii) Print, which includes its magazine and newsstand operations. Angi Inc. Angi Inc. formerly ANGI Homeservices Inc., is a publicly traded company that connects quality home service professionals with consumers across more than 500 different categories, from repairing and remodeling homes to cleaning and landscaping. During the year ended December 31, 2021, over 240,000 domestic service professionals actively sought consumer leads, completed jobs, or advertised work through Angi Inc. platforms. Additionally, consumers turned to at least one Angi business to find a service professional for approximately 33 million projects during the year ended December 31, 2021. At December 31, 2021, IAC’s economic interest and voting interest in Angi Inc. were 84.5% and 98.2%, respectively. Angi Inc. has two operating segments: (i) North America (United States and Canada), which includes Angi Ads, Angi Leads and Angi Services; and (ii) Europe. The brands operates as follows: Angi Ads (formerly Angie's List) brand, Angi Leads (formerly HomeAdvisor) brand, and Angi Services (Handy and Angi Roofing) brand. Angi Ads provides service professionals the capability to engage with potential customers, including quoting, invoicing, and payment services. Angi Leads provides consumers with tools and resources to help them find local, pre-screened and customer-rated service professionals. Angi Services allows consumers to browse and buy common household services at set prices, rather than requesting quotes from vetted service professionals, as well as instantly book related appointments online for household services (primarily cleaning and handyman services) with top-quality, pre-screened independent service professionals. Consumers can request and pay for household services directly through the Angi platform and Angi fulfills the request through the use of independently established home services providers engaged in a trade, occupation and/or business that customarily provides such services. Additionally, Angi Services (including Angi Roofing) manages home improvement projects for consumers. Search The Search segment consists of Ask Media Group and the Desktop business. Ask Media Group is a collection of websites providing general search services and information. The Desktop business includes our direct-to-consumer downloadable desktop applications and our business-to-business partnership operations. Ask Media Group’s websites include, among others: Ask.com, a search site with a variety of fresh and contemporary content (celebrities, culture, entertainment, travel and general knowledge); Reference.com, a search and general knowledge content site that provides content across select vertical categories (history, business and finance and geography, among other verticals); Consumersearch.com, a search and content website that provides content designed to simplify the product research process; and Shopping.net, a vertical shopping search site, each of which contains a mix of search services and/or content targeted to various user or segment demographics. Emerging & Other Our Emerging & Other segment primarily includes: •Care.com, a leading online destination for families to easily connect with caregivers for their children, aging parents, pets and homes and for a wide variety of caregivers to easily connect with families. Care.com's brands include Care For Business, Care.com offerings to enterprises, and HomePay. Care.com acquired Lifecare, a leading provider of family care benefits, on October 27, 2020; •Mosaic Group, a leading developer and provider of global subscription mobile applications. Mosaic Group has a portfolio of some of the largest and most popular applications in the following verticals: Communications (RoboKiller, TapeACall), Language (iTranslate, Grammatica), Weather (Clime: NOAA Weather Radar Live, Weather Live), Business (PDF Hero, Scan Hero), Health (Daily Burn, Window - Intermittent Fasting), Lifestyle (Blossom, Pixomatic); •Bluecrew, a technology driven staffing platform exclusively for flexible W-2 work; •Vivian Health, a platform to efficiently connect healthcare professionals with job opportunities, which we acquired a controlling interest in on June 26, 2019; •The Daily Beast, a website dedicated to news, commentary, culture and entertainment that publishes original reporting and opinion from its roster of full-time journalists and contributors; •IAC Films, a provider of production and producer services for feature films, primarily for initial sale and distribution through theatrical releases and video-on-demand services in the United States and internationally; and •Newco, IAC's incubator platform, which currently spans social gaming, telemedicine, home services, social networking and online recruiting. 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 financial statements for all periods prior to May 25, 2021. See “Note 4—Discontinued Operations” for additional details. 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."

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation and Combination

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.

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 impact of COVID-19 on the businesses in IAC's Angi Inc. segment initially 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 experienced a rebound in service requests in the second half of 2020 and through early 2021, service requests started to decline in May 2021 compared to the comparable months of 2020 as a result of the surge in 2020 and due to impacts of the Angi Inc.'s brand integration initiative launched in March 2021. Moreover, many service professionals' businesses have been adversely impacted by labor and material constraints and many service professionals have and continue to have limited capacity to take on new business, which continues to negatively impact the ability of these businesses to monetize the slightly increased level of service requests. Although Angi Inc.'s ability to monetize service requests rebounded modestly in the second half of 2021, it still has not returned 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 and, as a consequence, its revenue and profitability will not continue to be adversely impacted in the future. The Search segment has experienced an increase in revenue in the year ended December 31, 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.

In the quarter ended September 30, 2020, the Company recorded impairments of $53.2 million and $10.8 million related to the goodwill and intangible assets, respectively, of the Desktop reporting unit. These impairments were due in part to the effects of COVID-19 on monetization. Refer to "Certain Risks and Concentrations—Services Agreement with Google" for additional information.

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 buildings, capitalized software, leasehold improvements and equipment and definite-lived intangible assets; the fair value of assets acquired and liabilities assumed as a result of an acquisition and the allocation of purchase price to the identifiable intangible assets acquired during the measurement period; 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; pension and postretirement benefit expenses, including actuarial assumptions regarding discount rates, expected returns on plan assets and healthcare costs; 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

The Company's equity securities, other than those of its consolidated subsidiaries and those accounted for under the equity method, are accounted for at fair value or under the measurement alternative of Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") No. 2016-01, Recognition and Measurement of Financial Assets and Liabilities, with any changes to fair value recognized in "Other income (expense), net" in the statement of operations 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. The Company reviews its investments in equity securities without readily determinable fair values for impairment each reporting period when there are qualitative factors or events that indicate possible impairment. Factors the Company considers in making this determination include negative changes in industry and market conditions, financial performance, business prospects, and other relevant events and factors. When indicators of impairment exist, the Company prepares quantitative assessments of the fair value of its investments in equity securities, which require judgment and the use of estimates. When the Company's assessment indicates that the fair value of the investment is below its carrying value, the Company writes down the investment to its fair value and records the corresponding charge in "Other income (expense), net" in the statement of operations. See "Note 7—Financial Instruments and Fair Value Measurements for additional information on the impairments of certain equity securities without readily determinable fair values recorded during the year ended December 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 December 31, 2021 and 2020, the Company had one investment accounted for using the equity method, which is included in "Long-term investments" in the balance sheet.

Revenue Recognition

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

The Company's disaggregated revenue disclosures are presented in "Note 13—Segment Information."

Transaction Price

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

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

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

Arrangements with Multiple Performance Obligations

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

Practical Expedients and Exemptions

As permitted under the practical expedient available under ASU No. 2014-09, 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 tied to sales-based or usage-based royalties, 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.

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 Company has determined that certain costs, primarily commissions paid to employees pursuant to certain sales incentive programs and mobile app store fees, meet the requirements to be capitalized as a cost of obtaining a contract.

Commissions Paid to Third-Party Agent Sales of Magazine Subscriptions

Dotdash Meredith uses third-party agents to obtain certain subscribers. The agents are paid a commission, which can be as much as the subscription price charged to the subscriber. Dotdash Meredith subscriptions do not have substantive termination penalties; therefore, the contract term is determined on an issue-by-issue basis. Accordingly, these costs do not qualify for capitalization because there is no contract with a customer until a copy is served to a customer; therefore these costs are expensed when the publication is sent to the customer. Dotdash Meredith recognizes a liability to the extent the commission is refundable to the third-party agent. Dotdash Meredith expenses additional amounts paid to agents (such as per subscriber bounties) to acquire subscribers as incurred.

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 commissions 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.

The following table presents the capitalized costs to obtain a contract with a customer for the years ended December 31, 2021 and 2020:


	Years Ended December 31,
	2021				2020
	Sales Commissions		App Store Fees		Total		Sales Commissions		App Store Fees		Total
	(In thousands)
Current	$	39,669	$	9,023	$	48,692	$	50,319	$	8,469	$	58,788
Non-current	6,086		—		6,086		4,397		—		4,397
Total	$	45,755	$	9,023	$	54,778	$	54,716	$	8,469	$	63,185

During the years ended December 31, 2021, 2020 and 2019, the Company recognized expense of $125.9 million, $101.3 million and $94.9 million, respectively, related to the amortization of capitalized costs to obtain a contract with a customer.

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," respectively, in the balance sheet.

Dotdash Meredith

Dotdash Meredith revenue consists of digital and print revenue. Digital revenue consists principally of display advertising, performance marketing, and licensing and other revenue. Print revenue consists principally of subscription, newsstand, print advertising, and performance marketing revenue.

Digital

Display Advertising

Display advertising revenue is generated primarily through digital display advertisements sold directly by Dotdash Meredith's sales team and through programmatic advertising networks. Performance obligations are generally satisfied when the advertisement appears on the receiving platform. The price is determined by an agreed-upon pricing model such as CPC (cost per click), CPM (cost per 1,000 impressions), or flat fees. Revenue based on impression pricing is recognized when the advertisements are delivered consistent with the respective pricing model. Flat fee contracts are recognized ratably over the contract period using a time-elapsed output method. The customer is invoiced the agreed-upon price in the month following the month that the advertisements are delivered with normal trade terms.

As part of Dotdash Meredith's customary business practices, contracts may include a guaranteed number of impressions as well as sales incentives to its customers, including volume discounts, rebates, value added impressions, etc. For all such contracts that include these types of variable consideration, the Company estimates the variable consideration when determining the transaction price. Dotdash Meredith has sufficient historical data and has established processes to reliably estimate these variable components of the transaction price.

Performance Marketing

Performance marketing revenue includes commissions generated through affiliate commerce, affinity marketing, and performance marketing channels. Affiliate commerce and performance marketing commission revenue is generated when Dotdash Meredith refers users to commerce partner websites resulting in a purchase or transaction, or generated on a cost-per-click, cost-per-lead, or some other cost-per-action basis. Performance marketing and affiliate commerce partners are invoiced monthly. Affinity marketing programs partner with third parties to market and place magazine subscriptions online for both Dotdash Meredith and third-party publisher titles where Dotdash Meredith acts as an agent. Commissions are earned when a subscriber name has been provided to the publisher and any free trial period is completed. Dotdash Meredith net settles with the publishers monthly.

Licensing Revenue

Licensing revenue includes symbolic licenses, which include direct-to-retail product partnerships based on Dotdash Meredith's brands, and functional licenses, which consist of content licensing. Revenues from symbolic licenses are in the form of a royalty based on the sale or usage of the branded product, which is recognized over time when the sale or use occurs under the sales or usage-based royalty exception. Revenues from functional licenses are recognized at a point-in-time when Dotdash Meredith content (or advertising displayed alongside content) licensed to a third party is consumed by a customer. Generally, revenues are accrued based on estimated sales and adjusted as actual sales are reported by partners. These adjustments are typically recorded within three months of the initial estimates and have not been material. Any minimum guarantees are typically earned evenly over the year. Revenues from functional licenses are recognized at a point-in-time when access to the completed content is granted to the partner. There is no variable consideration related to functional licenses. Payment terms are contract specific and vary.

Subscription Revenue

Dotdash Meredith subscriptions do not have substantive termination penalties; therefore, the contract term is determined on an issue-to-issue basis. Most of the Company’s subscription sales are prepaid at the time of order and may be canceled at any time for a refund of the pro rata portion of the initial subscription. Accordingly, amounts received from pre-paid subscriptions are recorded as a customer deposit liability rather than as deferred revenue. Each subscription sale is determined to be a distinct performance obligation that is satisfied when the publication is sent to the customer. Revenues from subscriptions are deferred as a customer deposit liability and recognized ratably as subscribers are served. Some subscription offers contain more than one title in a bundle and the transaction price is allocated to each distinct performance obligation based on a standalone-selling price basis. The transaction price is fixed upon establishment of the contract that contains the final terms of the sale, including description, quantity, and price of each subscription purchased.

Newsstand Revenue

Newsstand revenue is related to single copy magazines or bundles of single copy magazines to wholesalers for resale on newsstands. Publications sold to magazine wholesalers are sold with the right to receive credit from Dotdash Meredith for magazines returned to the wholesaler by retailers. Revenue is recognized on the issue's on-sale date as the date aligns most closely with the date that control is transferred to the customer. Wholesalers are invoiced a percentage of estimated final sales the month after the issue’s initial on-sale date. Final payments are settled under normal industry terms.

Print Advertising

Print advertising revenue relates to the sale of advertising in magazines directly to advertisers or through advertising agencies, which is recognized when the magazine issue is published, which is the issue’s on-sale date. The customer is invoiced the agreed-upon price when the advertisements are published under normal industry trade terms. Contracts may include guaranteed circulation levels, as well as sales incentives including volume discounts, rebates, bonus pages, etc. For contracts that include these types of variable consideration, Dotdash Meredith estimates the variable consideration when determining the transaction price. Dotdash Meredith has sufficient historical data and has established processes to reliably estimate the variable components of the transaction price.

Performance Marketing

Performance marketing principally consists of affinity marketing revenue. Dotdash Meredith partners with traditional customer facing channels, such as brick and mortar retailers and call centers, to place magazine subscriptions. Dotdash Meredith net settles with these third-parties monthly.

Other Revenue

Print revenues includes other revenue streams that are primarily projects based. The revenue may relate to any one or combination of the following activities: advertising audience targeting, custom publishing, content strategy and development, email marketing, social media, database marketing, and search engine optimization. Depending on the contractual arrangement, revenue is recognized either as the purchased advertising is run on third-party platforms, or over the contractual period as the products do not have an alternate use to Dotdash Meredith or its other clients. Payment terms vary based on the nature of the contract.

Angi Inc.

Revenue is primarily derived from consumer connection revenue, which comprises fees paid by Angi Leads service professionals for consumer matches (regardless of whether the service professional ultimately provides the requested service). Consumer connection revenue varies based upon several factors, including the service requested, product experience offered, and geographic location of service. Consumer connection revenue is generally billed one week following a consumer match, with payment due upon receipt of invoice. The Company maintains revenue reserves for potential credits issued to Angi Leads services providers.

Revenue is also derived from (i) sales of time-based website, mobile and call center advertising to service professionals, (ii) Angi Leads service professional membership subscription fees, (iii) membership subscription fees from consumers, (iv) service warranty subscription and other services and (v) revenue from completed jobs sourced through the Angi Services platforms. Angi service professionals generally pay for advertisements in advance on a monthly or annual basis at the option of the service professional, with the average advertising contract term being approximately one year. Angi website, mobile and call center advertising revenue is recognized ratably over the contract term. Revenue from the sale of advertising in the Angie’s List Magazine is recognized in the period in which the publication is distributed. Service professional membership subscription revenue is initially deferred upon receipt of payment and is recognized using the straight-line method over the applicable subscription period, which is typically one year. Angi prepaid consumer membership subscription fees are recognized as revenue using the straight-line method over the term of the applicable subscription period, which is typically one year. Consumers typically pay when a job is scheduled through the Angi Services platform, or when the job is completed for Angi Roofing. Billing practices are governed by the contract terms of each project as negotiated with the consumer. Billings do not necessarily correlate with revenue recognized over time as this is based on the timing of when the consumer receives the promised services.

Prior to January 1, 2020, Handy recorded revenue on a net basis. Effective January 1, 2020, the Company modified the Handy terms and conditions so that Handy, rather than the service professional, has the contractual relationship with the consumer to deliver the service and Handy, rather than the consumer, has the contractual relationship with the service professional. Consumers request services and pay for such services directly through the Handy platform and then Handy fulfills the request with independently established home services providers engaged in a trade, occupation and/or business that customarily provides such services. This change in contractual terms requires gross revenue accounting treatment effective January 1, 2020 and resulted in an increase in revenue of $73.8 million during the year ended December 31, 2020.

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

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

Desktop revenue largely consists of advertising revenue generated principally through the display of paid listings in response to search queries. The majority of the paid listings displayed are supplied to us by Google in the manner, and pursuant to the services agreement with Google, described above. To a lesser extent, Desktop revenue also includes fees paid by subscribers for downloadable desktop applications as well as display advertisements. Fees related to subscription downloadable desktop applications are generally recognized over the term of the applicable subscription period, which is primarily one or two years. Fees related to display advertisements are recognized when an advertisement is displayed.

Emerging & Other

Care.com generates revenue primarily through subscription fees from families and caregivers for its suite of products and services, as well as through annual contracts with corporate employers who provide access to Care.com's suite of products and services as an employee benefit and through contracts with businesses that recruit employees through its platform.

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

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

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

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

Revenue of IAC Films and College Humor Media, which was sold in the first quarter of 2020, is generated primarily through media production and distribution and advertising. Production revenue is recognized when control is transferred to the customer to broadcast or exhibit, and advertising revenue is recognized when an advertisement is displayed or over the advertising period.

Accounts Receivables, Net of the Allowance for Credit Losses and Revenue Reserves

Accounts receivable include amounts billed and currently due from customers. The allowance for credit losses is based upon a number of factors, including the length of time accounts receivable are past due, the Company’s previous loss history, the specific customer’s ability to pay its obligation and any other forward-looking data regarding customers' ability to pay that is available. Customer payments that are not collected in advance of the transfer of promised services or goods are generally due no later than 30 days from invoice date, with the exception of invoices at Dotdash Meredith, which vary by revenue stream as discussed above. The Company also maintains allowances to reserve for potential credits issued to consumers or other revenue adjustments. The amounts of these reserves are based primarily upon historical experience.

Deferred Revenue

Deferred revenue consists of 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 year ended December 31, 2021, the Company recognized $132.2 million of revenue that was included in the deferred revenue balance at December 31, 2020. During the year ended December 31, 2020, the Company recognized $86.6 million of revenue that was included in the deferred revenue balance at December 31, 2019. The current and non-current deferred revenue balances are $165.5 million and $0.4 million, respectively, at December 31, 2021. Included in the current deferred revenue balance at December 31, 2021 is $24.1 million related to Meredith, acquired December 1, 2021. Non-current deferred revenue is included in "Other long-term liabilities" in the balance sheet.

Cash and Cash Equivalents

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

Investments in Debt Securities

At times the Company invests in marketable debt securities with active secondary or resale markets to ensure portfolio liquidity to fund current operations or satisfy other cash requirements as needed. Marketable debt securities are adjusted to fair value each quarter, and the unrealized gains and losses, net of tax, are included in accumulated other comprehensive income (loss) as a separate component of shareholders' equity. The specific-identification method is used to determine the cost of debt securities sold and the amount of unrealized gains and losses reclassified out of accumulated other comprehensive income (loss) into earnings. The Company also invests in non-marketable debt securities as part of its investment strategy. We review our debt securities for impairment each reporting period. The Company recognizes an unrealized loss on debt securities in net earnings when the impairment is determined to be other-than-temporary. Factors we consider in making such determination include the duration, severity and reason for the decline in value and the potential recovery and our intent to sell the debt security. We also consider whether we will be required to sell the security before recovery of its amortized cost basis and whether the amortized cost basis cannot be recovered because of credit losses. If an impairment is considered to be other-than-temporary, the debt security will be written down to its fair value and the loss will be recognized within "Other income (expense), net" in the statement of operations. There were no marketable debt securities at December 31, 2021. At December 31, 2020 marketable debt securities consisted of treasury discount notes.

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 years ended December 31, 2021, 2020 and 2019, total revenue earned from Google was $755.1 million, $556.1 million and $732.1 million, respectively, representing 20%, 20%, and 29%, respectively, of the Company's revenue. The related accounts receivable totaled $89.1 million and $61.9 million at December 31, 2021 and 2020, respectively.

The total revenue earned from the Services Agreement for the years ended December 31, 2021, 2020 and 2019, was $661.3 million, $498.3 million and $677.0 million, respectively, representing 18%, 18% and 27%, respectively, of the Company's 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 years ended December 31, 2021, 2020 and 2019, revenue earned from the Services Agreement was $542.1 million, $344.8 million and $385.9 million, respectively, within Ask Media Group, and $119.1 million, $153.5 million and $291.1 million, respectively, within the Desktop business.

Effective August 1, 2021, the Company and Google amended the Services Agreement to extend the expiration date from March 31, 2023 to March 31, 2024 and to provide for an automatic renewal for an additional one year period absent a notice of non-renewal from either party on or before March 31, 2023. The Company believes that the amended agreement, taken as a whole, is comparable to its previously existing agreement with Google. 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 or negatively impact revenue 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 July 1, 2019 and 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. During the year ended December 31, 2020, the Company reassessed the fair values of the Desktop reporting unit and the related indefinite-lived intangible assets and recorded goodwill and intangible asset impairments of $265.1 million and $32.2 million, respectively. The reduction in the Company’s fair value estimates was due to lower consumer queries, increasing challenges in monetization and the reduced ability to market profitably due to policy changes implemented by Google and other browsers. The effects of COVID-19 on monetization were an additional factor.

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 effectively eliminated all marketing of B2C products beginning in March 2021. This elimination of marketing has positively impacted profitability in 2021 because revenue from B2C products is earned over multiple periods beyond just the period in which the initial marketing is incurred. 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 year ended December 31, 2021, B2C revenue declined by $55.5 million to $77.7 million, while Desktop operating income, excluding the goodwill and intangible asset impairment charges in 2020, increased by $32.5 million to $49.7 million, versus the year ended December 31, 2020. Beyond 2021, we expect the revenue and profits of the B2C business and Desktop, respectively, to decline significantly.

Credit Risk

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

Other Risks

The Company is subject to certain risks and concentrations including dependence on third-party technology providers, exposure to risks associated with online commerce security and credit card fraud.

Inventories

Inventories consist mainly of paper stock, editorial content, books, and other merchandise at Dotdash Meredith and are stated at the lower of cost or estimated net realizable value. Cost is determined using the first-in, first-out method for books and weighted average cost method for paper and other merchandise.

Buildings, Capitalized Software, Leasehold Improvements, Equipment and Land

Buildings, capitalized software, leasehold improvements, equipment and land are recorded at cost or at fair value to the extent acquired in a business combination. Repairs and maintenance costs are expensed as incurred. Amortization of leasehold improvements, which is included within depreciation within the statement of operations, and depreciation are computed using the straight-line method over the estimated useful lives of the assets, or, in the case of leasehold improvements, the lease term, if shorter.

The Company capitalizes certain internal use software costs including external direct costs utilized in developing or obtaining the software and compensation for personnel directly associated with the development of the software. Capitalization of such costs begins when the preliminary project stage is complete and ceases when the project is substantially complete and ready for its intended purpose. The net book value of capitalized internal use software is $131.6 million and $68.0 million at December 31, 2021 and 2020, respectively.


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

Business Combinations and Contingent Consideration Arrangements

The purchase price of each acquisition is attributed to the assets acquired and liabilities assumed based on their fair values at the date of acquisition, including identifiable intangible assets that either arise from a contractual or legal right or are separable from goodwill. The Company usually obtains the assistance of outside valuation experts to assist in the allocation of purchase price to the identifiable intangible assets acquired. While outside valuation experts may be used, management has ultimate responsibility for the valuation methods, models and inputs used and the resulting purchase price allocation. The excess purchase price over the value of net tangible and identifiable intangible assets acquired is recorded as goodwill and is assigned to the reporting unit(s) that is expected to benefit from the business combination as of the acquisition date. The acquisition of Meredith closed on December 1, 2021. The allocation of purchase price to the assets acquired and liabilities assumed and determination of the reporting units for Meredith is still in process of being assessed. Once that is completed the determination of fair value of the reporting units will need to be determined so that goodwill can be allocated. Therefore, the allocation of goodwill for the acquisition of Meredith is not complete as of December 31, 2021. See "Note 5—Business Combinations" for a description of the preliminary status of the accounting for this business combination.

In connection with certain business combinations, the Company has entered into contingent consideration arrangements that are determined to be part of the purchase price. Each of these arrangements is initially recorded at its fair value at the time of the acquisition and reflected at current fair value for each subsequent reporting period thereafter until settled. Generally, our contingent consideration arrangements are based upon financial performance and/or operating metric targets. The Company generally determines the fair value of the contingent consideration arrangements by using probability-weighted analyses to determine the amounts of the gross liability, and, if the arrangement is long-term in nature, applying a discount rate that appropriately captures the risk associated with the obligation to determine the net amount reflected in the financial statements. Significant changes in forecasted earnings or operating metrics would result in a significantly higher or lower fair value measurement. The changes in the remeasured fair value of the contingent consideration arrangements during each reporting period, including the accretion of the discount, if applicable, are recognized in "General and administrative expense" in the statement of operations. See "Note 7—Financial Instruments and Fair Value Measurements" for a discussion of contingent consideration arrangements.

Goodwill and Indefinite-Lived Intangible Assets

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

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

For the Company's annual goodwill test at October 1, 2021, a qualitative assessment of the Angi Inc., Care.com, Bluecrew and Vivian Health reporting units' goodwill was performed because the Company concluded it was more likely than not that the fair value of these reporting units was in excess of their respective carrying values. The primary factors that the Company considered in its qualitative assessment for each of these reporting units are described below:

•Angi Inc.'s October 1, 2021 market capitalization of $6.2 billion exceeded its carrying value by approximately $5.0 billion.

•The Company prepared valuations of the Care.com, Bluecrew and Vivian Health reporting units primarily in connection with the issuance and/or settlement of equity awards that are denominated in the equity of these businesses during the year ended December 31, 2021. The valuations were prepared time proximate to, however, not as of, October 1, 2021. The fair value of each of these businesses was in excess of its October 1, 2021 carrying value.

For the Company's annual goodwill test at October 1, 2021, the Company quantitatively tested the Mosaic Group reporting unit. The Company's quantitative test indicated that there was no impairment. The Company's Dotdash Meredith, Ask Media Group, Desktop, The Daily Beast, IAC Films and Newco reporting units have no goodwill as of October 1, 2021.

The aggregate carrying value of goodwill for which the most recent estimate of the excess of fair value over carrying value is less than 20% is approximately $243.0 million.

The fair value of the Company's reporting units (except for Angi Inc. described above) is determined using both an income approach based on discounted cash flows ("DCF") and a market approach when it tests goodwill for impairment, either on an interim basis or annual basis as of October 1 each year. The Company uses the same approach in determining the fair value of its businesses in connection with its non-public subsidiary denominated stock-based compensation plans, which can be a significant factor in the decision to apply the qualitative assessment rather than a quantitative test. Determining fair value using a DCF analysis requires the exercise of significant judgment with respect to several items, including the amount and timing of expected future cash flows and appropriate discount rates. The expected cash flows used in the DCF analyses are based on the Company's most recent forecast and budget and, for years beyond the budget, the Company's estimates, which are based, in part, on forecasted growth rates. The discount rates used in the DCF analyses are intended to reflect the risks inherent in the expected future cash flows of the respective reporting units. Assumptions used in the DCF analyses, including the discount rate, are assessed based on each reporting unit's current results and forecasted future performance, as well as macroeconomic and industry specific factors. The discount rates used in the quantitative test for determining the fair value of the Company's reporting units was 15.0% in both 2021 and 2020 (for the Mosaic reporting unit). Determining fair value using a market approach considers multiples of financial metrics based on both acquisitions and trading multiples of a selected peer group of companies. From the comparable companies, a representative market multiple is determined which is applied to financial metrics to estimate the fair value of a reporting unit. To determine a peer group of companies for our respective reporting units, we considered companies relevant in terms of consumer use, monetization model, margin and growth characteristics, and brand strength operating in their respective sectors.

While the Company has the option to qualitatively assess whether it is more likely than not that the fair values of its indefinite-lived intangible assets are less than their carrying values, the Company's policy is to determine the fair value of each of its indefinite-lived intangible assets annually as of October 1, in part, because the level of effort required to perform the quantitative and qualitative assessments is essentially equivalent. The Company determines the fair value of indefinite-lived intangible assets using an avoided royalty DCF valuation analysis. Significant judgments inherent in this analysis include the selection of appropriate royalty and discount rates and estimating the amount and timing of expected future cash flows. The discount rates used in the DCF analyses are intended to reflect the risks inherent in the expected future cash flows generated by the respective intangible assets. The royalty rates used in the DCF analyses are based upon an estimate of the royalty rates that a market participant would pay to license the Company's trade names and trademarks. The future cash flows are based on the Company's most recent forecast and budget and, for years beyond the budget, the Company's estimates, which are based, in part, on forecasted growth rates. Assumptions used in the avoided royalty DCF analyses, including the discount rate and royalty rate, are assessed annually based on the actual and projected cash flows related to the asset, as well as macroeconomic and industry specific factors. The discount rates used in the Company's annual indefinite-lived impairment assessment ranged from 10.0% to 40.0% in 2021 and 11.5% to 25.0% in 2020, and the royalty rates used ranged from 1.0% to 5.0% in 2021 and 1.00% to 5.5% in 2020.

If the carrying value of an indefinite-lived intangible asset exceeds its estimated fair value, an impairment equal to the excess is recorded. There are no indefinite-lived intangible assets for which the most recent estimate of the excess fair value over carrying value is less than 20%.

The October 1, 2021 annual assessments of goodwill and indefinite-lived intangible assets did not identify any impairments.

In the quarter ended March 31, 2020, the Company determined that the effects of COVID-19 were an indicator of possible impairment for certain of its reporting units and indefinite-lived intangible assets and identified impairments of $212.0 million and $21.4 million related to the goodwill and certain indefinite-lived intangible assets of the Desktop reporting unit.

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

The October 1, 2020 annual assessments of goodwill and indefinite-lived intangible assets did not identify any additional impairments.

The October 1, 2019 annual assessment of goodwill and indefinite-lived intangible assets identified a $3.3 million goodwill impairment charge and $0.7 million trade name impairment both related to the College Humor Media business.

Impairment charges recorded on indefinite-lived intangibles are included in "Amortization of intangibles" in the statement of operations.

Digital and Print are separate operating segments within the Dotdash Meredith reporting unit and North America and Europe are separate operating segments within the Angi Inc. reporting unit. Within the Company's Emerging & Other reportable segment, Mosaic Group, Care.com, Bluecrew, Vivian Health, The Daily Beast, IAC Films, and Newco are separate operating segments, which are consistent with its reporting units. Ask Media Group and Desktop are separate reporting units within the Search reportable segment. Goodwill is tested for impairment at the reporting unit level. See "Note 13—Segment Information" for additional information regarding the Company's method of determining operating and reportable segments.

Long-Lived Assets and Intangible Assets with Definite Lives

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

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. See "Note 7—Financial Instruments and Fair Value Measurements" for a discussion of fair value measurements made using Level 3 inputs.

The Company's non-financial assets, such as goodwill, intangible assets, ROU assets and buildings, 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.

Advertising Costs

Advertising costs are expensed in the period incurred (when the advertisement first runs for production costs that are initially capitalized) and represent online marketing, including fees paid to search engines, social media sites and third parties that distribute our B2C downloadable applications, offline marketing, which is primarily television advertising, partner-related payments to those who direct traffic to the brands within our Angi Inc. segment, and direct-mail costs for magazine subscription acquisition efforts within our Dotdash Meredith segment. Advertising expense is $877.2 million, $796.7 million and $795.1 million for the years ended December 31, 2021, 2020 and 2019, respectively.

The Company capitalizes and amortizes the costs associated with certain distribution arrangements that require us to pay a fee per access point delivered. These access points are generally in the form of downloadable applications associated with our direct-to consumer operations. These fees are amortized over the estimated useful lives of the access points to the extent the Company can reasonably estimate a probable future economic benefit and the period over which such benefit will be realized (generally 18 months). Otherwise, the fees are charged to expense as incurred. Beginning in March 2021, the Company effectively eliminated all marketing of B2C products in connection with Google policy changes. Refer to "Certain Risks and Concentrations—Services Agreement with Google (the "Services Agreement") above for additional information. At December 31, 2021 and 2020, the unamortized capitalized downloadable search toolbar costs in our B2C business are $0.6 million and $13.2 million, respectively.

Legal Costs

Legal costs are expensed as incurred.

Income Taxes

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

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

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 and/or provision was 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 statement of cash flows.

Pensions and Postretirement Benefits

In connection with the acquisition of Meredith, the Company has assumed the obligations under its pension plans. Pension benefits for the domestic plans are generally based on formulas that reflect interest credits allocated to participants’ accounts based on years of benefit service and annual pensionable earnings. The domestic plans are frozen with respect to new participants. There were no active participants in the international plans so there will be no future service cost for the international plans.

The Company utilizes a mark-to-market approach to account for pension and postretirement benefits. Under this approach, the Company immediately recognizes changes in the fair value of plan assets and actuarial gains or losses in the fourth quarter of each fiscal year or whenever a plan is required to be remeasured. Events requiring a plan remeasurement are recognized in the quarter in which the remeasurement event occurs. The remaining components of pension and other postretirement plan net periodic benefit costs are recorded on a quarterly basis. The discount rates utilized are based on the investment yields of high quality corporate bonds available in the marketplace with maturities equal to projected cash flows of future benefit payments as of the measurement date.

It is the Company’s policy to fund the qualified pension plans to at least the extent required to maintain their fully funded status. In addition, the Company provides health care and life insurance benefits for certain retired employees, the expected costs of which are accrued over the years that the employees render services. It is Company’s policy to fund postretirement benefits as claims are paid. See "Note 17—Pension and Postretirement Benefit Plans" for additional information.

Earnings Per Share

Undistributed earnings allocated to the participating security is subtracted from earnings in determining earnings attributable to holders of IAC common stock and Class B common stock for basic net earnings (loss) per share ("EPS"). Basic EPS is computed by dividing net earnings (loss) 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. Diluted earnings per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vested resulting in the issuance of common stock that could share in the earnings of the Company. For periods prior to the MTCH Separation, the Company calculated basic and diluted earnings per share using the shares issued on June 30, 2020, the date of the MTCH Separation. See "Note 11—Earnings Per Share" for additional information on dilutive securities.

Foreign Currency Translation and Transaction Gains and Losses

The financial position and operating results of foreign entities whose primary economic environment is based on their local currency are consolidated using the local currency as the functional currency. These local currency assets and liabilities are translated at the rates of exchange as of the balance sheet date, and local currency revenue and expenses of these operations are translated at average rates of exchange during the period. Translation gains and losses are included in accumulated other comprehensive income as a component of shareholders' and parent's equity. Transaction gains and losses resulting from assets and liabilities denominated in a currency other than the functional currency are included in the statement of operations as a component of "Other income (expense), net". See "Note 18—Financial Statement Details" for additional information regarding foreign currency exchange gains and losses.

Translation gains and losses relating to foreign entities that are liquidated or substantially liquidated are reclassified out of accumulated other comprehensive income (loss) into earnings. During the years ended December 31, 2021 and 2020, losses and gains of $10.0 million and $0.1 million, respectively, were reclassified into earnings and included in "Other income (expense), net" in the statement of operations. There were no such gains or losses for the year ended December 31, 2019.

Stock-Based Compensation

Stock-based compensation is measured at the grant date based on the fair value of the award and is generally expensed over the requisite service period. See "Note 12—Stock-Based Compensation" for a discussion of the Company's stock-based compensation plans.

Redeemable Noncontrolling Interests

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

In connection with the acquisition of certain subsidiaries, management of these businesses has retained an ownership interest. The Company is party to fair value put and call arrangements with respect to these interests. These put and call arrangements allow management of these businesses to require the Company to purchase their interests or allow the Company to acquire such interests at fair value, respectively. The put arrangements do not meet the definition of a derivative instrument as the put agreements do not provide for net settlement. These put and call arrangements become exercisable by the Company and the counter-party at various dates in the future. Two of these arrangements were exercised during the year ended December 31, 2021 and one of these arrangements was exercised during each of the years ended December 31, 2020 and 2019. These put arrangements are exercisable by the counter-party outside the control of the Company. Accordingly, to the extent that the fair value of these interests exceeds the value determined by normal noncontrolling interest accounting, the value of such interests is adjusted to fair value with a corresponding adjustment to additional paid-in capital or invested capital. During the years ended December 31, 2021, 2020 and 2019, the Company recorded adjustments of $777.7 million, $183.3 million and $11.6 million, respectively (of which $777.3 million, $171.0 million and $0.5 million, respectively, were related to Vimeo), to increase these interests to fair value. Fair value determinations require high levels of judgment and are based on various valuation techniques, including market comparables and discounted cash flow projections.

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

Recent Accounting Pronouncements

Recent Accounting Pronouncements Adopted by the Company

ASU 2021-08 – Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers

In October 2021, the FASB issued ASU No. 2021-08, which changes how entities recognize assets acquired and liabilities assumed in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers. The provisions of ASU No. 2021-08 require acquiring entities to recognize and measure contract assets and contract liabilities, including deferred revenue, acquired in a business combination in accordance with ASU No. 2014-09 (Topic 606), Revenue from Contracts with Customers, as if it had originated the contracts. The provisions of ASU No. 2021-08 are effective for fiscal years beginning after December 15, 2022, with early adoption permitted, including adoption in an interim period. The Company early adopted ASU 2021-08 effective in the fourth quarter of 2021. An entity that early adopts in an interim period is required to apply the amendments (i) retrospectively to all business combinations for which the acquisition date occurs on or after the beginning of the fiscal year that includes the interim period of early adoption and (ii) prospectively to all business combinations that occur on or after the date of initial application. Early adoption has no retrospective impact on the Company. The adoption of ASU 2021-08 may have a material impact on the purchase accounting for prospective business combinations.

Recent Accounting Pronouncements Not Yet Adopted by the Company

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.

Reclassifications

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

INCOME TAXES

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

INCOME TAXES

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


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
U.S.	$	758,538	$	234,345	$	(11,249)
Foreign	(28,732)		9,815		45,566
Total	$	729,806	$	244,160	$	34,317

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


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Current income tax provision (benefit):
Federal	$	(5,818)	$	(29,181)	$	(1,117)
State	4,750		2,326		157
Foreign	6,681		(496)		2,985
Current income tax provision (benefit)	5,613		(27,351)		2,025

Deferred income tax provision (benefit):
Federal	111,755		(8,097)		(39,454)
State	18,063		(6,126)		(9,746)
Foreign	3,559		(4,133)		(174)
Deferred income tax provision (benefit)	133,377		(18,356)		(49,374)
Income tax provision (benefit)	$	138,990	$	(45,707)	$	(47,349)

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


	December 31,
	2021		2020
	(In thousands)
Deferred tax assets:
Net operating loss carryforwards	$	557,329	$	392,871
Long-term lease liabilities	157,504		58,457
Customer deposit liability	56,194		—
Tax credit carryforwards	48,081		41,970
Accrued expenses	47,754		17,247
Stock-based compensation	25,477		41,850
Other	53,263		32,043
Total deferred tax assets	945,602		584,438
Less: valuation allowance	(112,640)		(111,691)
Net deferred tax assets	832,962		472,747

Deferred tax liabilities:
Investment in MGM Resorts International	(389,837)		(197,998)
Intangible assets, net of accumulated amortization	(271,629)		(34,170)
Investment in subsidiaries	(227,632)		(242,537)
Right-of-use assets	(122,095)		(43,074)

Buildings, capitalized software, leasehold improvements, equipment and land, net	(70,959)		(16,645)
Other	(134,010)		(14,926)
Total deferred tax liabilities	(1,216,162)		(549,350)
Net deferred tax liabilities	$	(383,200)	$	(76,603)

At December 31, 2021, the Company had federal and state net operating losses ("NOLs") of $1.8 billion and $1.3 billion, respectively, available to offset future income. Of these federal NOLs, $1.3 billion can be carried forward indefinitely and $0.5 billion, if not utilized, will expire at various times between 2025 and 2036. The state NOLs, if not utilized, will expire at various times between 2022 and 2041. Federal and state NOLs of $1.4 billion and $0.8 billion, respectively, can be used against future taxable income without restriction and the remaining NOLs will be subject to limitations under Section 382 of the Internal Revenue Code, separate return limitations, and applicable law. At December 31, 2021, the Company had foreign NOLs of $496.7 million available to offset future income. Of these foreign NOLs, $446.8 million can be carried forward indefinitely and $49.9 million, if not utilized, will expire at various times between 2022 and 2041. During 2021, the Company recognized tax benefits related to NOLs of $166.4 million. Included in this amount is $49.0 million of tax benefits of acquired attributes, which was recorded as a reduction to goodwill.

At December 31, 2021, the Company had tax credit carryforwards of $65.0 million. Of this amount, $50.8 million relates to credits for research activities, $12.2 million relates to credits for foreign taxes, and $2.0 million relates to various other credits. Of these credit carryforwards, $12.9 million can be carried forward indefinitely and $52.1 million, if not utilized, will expire between 2022 and 2041.

During 2021, the Company's valuation allowance increased by $0.9 million primarily due to the valuation allowance on beginning-of-the-year deferred tax assets related to the Spin-off and acquired foreign net operating losses partially offset by a decrease in other tax loss carryforwards. At December 31, 2021, the Company had a valuation allowance of $112.6 million related to the portion of tax loss carryforwards, foreign tax credits and other items for which it is more likely than not that the tax benefit will not be realized.

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


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Income tax provision at the federal statutory rate of 21%	$	153,259	$	51,274	$	7,207
State income taxes, net of effect of federal tax benefit	24,289		16,995		468
Stock-based compensation	(83,396)		(163,633)		(56,708)
Change in judgement on beginning of the year valuation allowance	20,248		(3,544)		—
Non-deductible executive compensation	14,025		14,219		7,409
Research credit	(5,094)		(6,078)		(4,449)
Non-deductible expenses	4,328		5,947		5,353
Deferred tax adjustment for enacted changes in tax laws and rates	4,049		(14,508)		(688)
Change in valuation allowance on capital losses	754		11,385		(7,365)

Non-deductible goodwill impairment	—		53,012		—
Amortizable tax basis related to intercompany transaction	—		(7,044)		—
Other, net	6,528		(3,732)		1,424
Income tax provision (benefit)	$	138,990	$	(45,707)	$	(47,349)

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


	December 31,
	2021		2020		2019
	(In thousands)
Balance at January 1	$	18,233	$	16,585	$	14,425
Additions for tax positions related to the current year	2,855		3,419		2,332
Settlements	(1,427)		(3,733)		—
Additions for tax positions of prior years	3,420		2,313		238
Reductions for tax positions of prior years	(1,116)		—		—
Expiration of applicable statutes of limitations	(4,516)		(351)		(410)
Balance at December 31	$	17,449	$	18,233	$	16,585

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 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, and has begun its audit of the years ended December 31, 2018 through 2019, which include the operations of the Company. The statute of limitations for the years 2013 through 2019 has been extended to December 31, 2023. 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.

The Company recognizes interest and, if applicable, penalties related to unrecognized tax benefits in the income tax provision. At December 31, 2021 and 2020, accruals for interest and penalties are not material.

At December 31, 2021 and 2020, unrecognized tax benefits, including interest and penalties, were $18.0 million and $20.1 million, respectively. Unrecognized tax benefits, including interest and penalties, at December 31, 2021 decreased by $2.1 million due primarily to statute expirations. If unrecognized tax benefits at December 31, 2021 are subsequently recognized, $16.7 million, net of related deferred tax assets and interest, would reduce income tax expense. The comparable amount at December 31, 2020 was $18.5 million. The Company believes that it is reasonably possible that its unrecognized tax benefits could decrease by $2.8 million by December 31, 2022 due to expected settlements of which $2.5 million would reduce the income tax provision.

At December 31, 2021, all of the Company's international cash can be repatriated without any significant tax consequences.

As a result of the Vimeo Spin-Off, the Company’s net deferred tax liability was adjusted for tax attributes from our federal and consolidated state income tax filings that were allocated between the Company and Vimeo. The allocation attributable to Vimeo was recorded in 2021 and is preliminary and subject to adjustment. Any subsequent adjustment to allocated tax attributes will be recognized as an adjustment to deferred taxes and net earnings from discontinued operations. This adjustment is expected to be made in the fourth quarter of 2022 following the filing of the income tax returns for the year ended December 31, 2021.

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 and/or 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 attributed to continuing operations" in the statement of cash flows.

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. Following the filing of income tax returns for the year ended December 31, 2021, the allocation was finalized and an adjustment of $7.6 million was recorded to additional paid-in-capital.

- 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

12 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONSOn 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 a discontinued operation within IAC's financial statements for all periods prior to May 25, 2021.

The components of assets and liabilities of discontinued operations in the 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 period January 1, 2021 through May 25, 2021 and the years ended December 31, 2020 and 2019 in the statement of operations consisted of the following:


	January 1 through May 25,		Years Ended December 31,
	2021		2020		2019

Revenue	$	145,514	$	283,146	$	195,821
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	39,995		88,589		68,873
Selling and marketing expense	54,774		104,216		84,298
General and administrative expense	23,343		47,019		44,177
Product development expense	35,651		62,803		44,524
Depreciation	182		460		478
Amortization of intangibles	2,983		14,745		9,653
Total operating costs and expenses	156,928		317,832		252,003
Operating loss from discontinued operations	(11,414)		(34,686)		(56,182)
Interest expense	(140)		—		—
Other income (expense), net	10,172		93		(6,441)
Loss from discontinued operations before tax	(1,382)		(34,593)		(62,623)
Income tax (provision) benefit	(449)		13,312		13,140
Loss from discontinued operations, net of tax	$	(1,831)	$	(21,281)	$	(49,483)

BUSINESS COMBINATIONS

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

BUSINESS COMBINATIONS

Dotdash Meredith

On December 1, 2021, Dotdash acquired 100% of Meredith under the terms of an agreement (the "Merger Agreement") dated as of October 6, 2021. At the effective time of the merger, each outstanding share of common stock of Meredith (other than certain excluded shares) was converted into the right to receive $42.18 in cash. Pursuant to the Merger Agreement, Meredith equity awards were cancelled, and in exchange each holder received such holder’s portion of the merger consideration as set forth in the Merger Agreement, less the per share exercise price in the case of stock options. The Company accounted for this acquisition as a business combination under the acquisition method of accounting.

The total preliminary purchase price was calculated and allocated as follows:


	Meredith
	(In thousands)
Common stock of Meredith	$	1,931,376
Cash payment used to settle a portion of Meredith debt	625,000
Cash settlement of all outstanding vested equity awards and deferred compensation	130,089
Total preliminary purchase price	$	2,686,465

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


	Meredith
	(In thousands)
Cash and cash equivalents	$	12,436
Accounts receivable	373,555
Other current assets	91,364
Property and equipment	283,319
Goodwill	1,567,843
Intangible assets	1,095,500
Other non-current assets	682,272
Total assets	4,106,289
Customer deposit liability	(141,888)
Other current liabilities	(459,712)
Deferred income taxes	(230,880)
Other non-current liabilities	(587,344)
Net assets acquired	$	2,686,465

The Company acquired Meredith because it is complementary to Dotdash. The purchase was based on the expected future financial performance of Meredith under Dotdash leadership, not on the value of the net identifiable assets at the time of acquisition. This resulted in a significant portion of the preliminary purchase price being attributed to goodwill. The purchase price attributed to goodwill is not tax deductible.

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


	Meredith
	(In thousands)		Useful Life (Years)
Indefinite-lived trade names and trademarks	$	432,800	Indefinite-lived
Advertiser relationships	334,000		5-7
Licensee relationships	150,000		3-6
Trade name and trademarks	105,000		2-5
Subscriber relationships	73,700		1-2
Total identifiable intangible assets acquired	$	1,095,500

The financial results of Meredith are included in the Company’s consolidated financial statements, within the Dotdash Meredith segment, beginning December 1, 2021. For the year ended December 31, 2021, the Company included $169.9 million of revenue and $59.3 million of net loss in its consolidated statement of operations related to Meredith. The net loss of Meredith reflects $65.1 million in transaction-related costs associated with the acquisition, including charges related to double-trigger change in control payments. Given the proximity of the acquisition to the end of the reporting period, the allocation of the preliminary purchase price to certain assets acquired and liabilities assumed is provisional. These amounts will be subject to review and possible revision during the measurement period, which the Company expects to extend through the fourth quarter of 2022. In addition, the Company is still in the process of identifying acquired assets and assumed liabilities, which may also result in adjustment of the provisional amounts recorded. The subsequent adjustment of the provisional amounts may be material.

The provisional amounts for assets acquired and liabilities assumed include the fair value of:

1.accounts receivable and other receivables, which has been adjusted for an estimated $10.1 million of gross contractual amounts not expected to be collected, may be subject to adjustment for reassessment of collectability as of the date of acquisition, collections and other adjustment subsequent to the acquisition;

2.prepaid expenses and other current and noncurrent assets, which may be subject to adjustment based upon a review of recoverability and consideration of other factors;

3.inventory;

4.property, plant and equipment, for which the preliminary estimates are subject to revision for:

a.identification of assets acquired;

b.finalization of preliminary appraisals; and

c.determination of useful lives;

5.right of use assets and lease liabilities, which will be subject to adjustment upon completion of the review of the inputs, including sublease assumptions, for the calculations;

6.accounts payable and accrued expenses, which will be subject to adjustment based upon subsequent payment and assessment of other factors;

7.indemnification liabilities, which include pre-acquisition income tax and non-income tax liabilities, will be subject to adjustment for:

a. the reconciliation of the income tax return to the income tax provision for the fiscal year ended June 30, 2021 and the short period return from July 1, 2021 through the date of acquisition;

b. the assessment of the amounts of liabilities that existed at the date of acquisition based upon ongoing audits;

c. the assessment of applicable tax rates and other factors; and

d. the identification of other liabilities;

8.contingencies, the initial estimated recorded liability is approximately $100 million, including indemnification liabilities, will be subject to adjustment for additional items that are identified and for additional information obtained that will assist in the determination of liabilities as of the date of acquisition;

9.definite and indefinite-lived intangible assets acquired will be subject to adjustment as additional assets are identified, estimates and forecasts are refined and disaggregated, useful lives are finalized, and other factors deemed relevant are considered;

10. deferred income taxes will be subject to adjustment based upon the completion of the review of the book and tax bases of assets acquired and liabilities assumed, applicable tax rates and the impact of the revisions of estimates for the items described above;

11. goodwill will be subject to adjustment for the impact of the revisions of estimates for the items described above; and

12. the allocation of goodwill to reporting units, which is still in process of being assessed, will be subject to revision based upon the items described above and the finalization of the determination of fair value of the reporting units, which has not yet been completed.

Care.com

On February 11, 2020, the Company acquired 100% of Care.com, a 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, Meredith and Care.com as if these acquisitions had occurred on January 1, 2020 and January 1, 2019, respectively. 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 these acquisitions occurred on the aforementioned dates. For the years ended December 31, 2021 and 2020, pro forma adjustments include an increase in amortization expense of $102.0 million and $65.6 million, respectively, related to intangible asset adjustments in purchase accounting. To present transaction-related costs in the beginning of the earliest comparative period presented pro forma adjustments include a reduction in transaction-related costs of $130.8 million for the year ended December 31, 2021.


	Years Ended December 31,
	2021		2020
	(In thousands, except per share data)
Revenue	$	5,599,334	$	4,840,324
Net earnings (loss) from continuing operations	$	666,882	$	(27,702)
Basic earnings (loss) per share from continuing operations	$	7.57	$	(0.32)
Diluted earnings (loss) per share from continuing operations	$	7.15	$	(0.32)
Net earnings (loss) attributable to IAC shareholders	$	673,613	$	(43,177)
Basic earnings (loss) per share attributable to IAC shareholders	$	7.55	$	(0.51)
Diluted earnings (loss) per share attributable to IAC shareholders	$	7.13	$	(0.51)

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Goodwill and intangible assets, net are as follows:


	December 31,
	2021		2020
	(In thousands)
Goodwill	$	3,226,610	$	1,660,102
Intangible assets with definite lives, net of accumulated amortization	735,743		148,073
Intangible assets with indefinite lives	679,149		246,913
Total goodwill and intangible assets, net	$	4,641,502	$	2,055,088

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the year ended December 31, 2021:


	Balance at December 31, 2020		Additions		(Deductions)		Foreign Exchange Translation		Balance at December 31, 2021
	(In thousands)
Dotdash Meredith	$	—	$	1,567,843	$	—	$	—	$	1,567,843
Angi Inc.	892,133		26,822		—		(2,580)		916,375
Emerging & Other	767,969		—		(25,376)		(201)		742,392
Total	$	1,660,102	$	1,594,665	$	(25,376)	$	(2,781)	$	3,226,610

Additions relate to the acquisitions of Meredith, acquired by Dotdash on December 1, 2021, and Total Home Roofing (“Angi Roofing”), acquired by Angi on July 1, 2021. Deductions are primarily related to the allocation of acquired attributes related to the acquisition of Care.com (included in the Emerging & Other segment).

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the year ended December 31, 2020:


	Balance at December 31, 2019		Additions		Impairment		Foreign Exchange Translation		Balance at December 31, 2020
	(In thousands)
Angi Inc.	$	884,296	$	2,665	$	—	$	5,172	$	892,133
Search	265,146		—		(265,146)		—		—
Emerging & Other	248,051		519,405		—		513		767,969
Total	$	1,397,493	$	522,070	$	(265,146)	$	5,685	$	1,660,102

Additions are primarily related to the acquisitions of Care.com on February 11, 2020 and LifeCare, acquired by Care.com on October 27, 2020 (included in the Emerging & Other segment).

In the quarter ended March 31, 2020, the Company determined that the effects of COVID-19 were an indicator of possible impairment for certain of its reporting units and indefinite-lived intangible assets and identified a $212.0 million impairment related to the goodwill of the Desktop reporting unit and a $21.4 million impairment related to certain indefinite-lived intangible assets of the Desktop reporting unit.

The reduction in the Company’s fair value estimates of the Desktop business in the first and third quarters of 2020 was primarily due to lower consumer queries, increasing challenges in monetization and the reduced ability to market profitably due to policy changes implemented by Google and other browsers. The effects of COVID-19 on monetization were an additional factor.

See “Note 2—Summary of Significant Accounting Policies” for further discussion of the Company’s assessments of impairment of goodwill and indefinite-lived intangible assets.

The December 31, 2021 and December 31, 2020 goodwill balances reflect accumulated impairment losses of $981.3 million and $198.3 million at Search and Dotdash Meredith, respectively. As a result of the impairments recorded in 2020, the Search reportable segment has no goodwill.

At December 31, 2021 and 2020, intangible assets with definite lives are as follows:


	December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life
	(In thousands)						(Years)
Advertiser relationships	$	334,000	$	(6,386)	$	327,614	5.2
Licensee relationships	150,000		(2,923)		147,077		4.9
Trade names	145,598		(18,224)		127,374		5.1
Technology	133,318		(106,415)		26,903		4.2
Service professional relationships	98,789		(97,877)		912		3.0
Subscriber relationships	73,700		(3,961)		69,739		2.0
Customer lists and user base	68,730		(32,606)		36,124		6.4
Other	10,439		(10,439)		—		3.4
Total	$	1,014,574	$	(278,831)	$	735,743	4.6


	December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life
	(In thousands)						(Years)
Technology	$	142,247	$	(82,813)	$	59,434	4.2
Service professional relationships	97,960		(97,312)		648		3.0
Customer lists and user base	75,687		(22,027)		53,660		4.0
Trade names	50,633		(16,760)		33,873		6.9
Memberships	15,900		(15,900)		—		3.0
Other	10,439		(9,981)		458		3.4
Total	$	392,866	$	(244,793)	$	148,073	4.1

At December 31, 2021, amortization of intangible assets with definite lives for each of the next five years and thereafter is estimated to be as follows:


Years Ending December 31,	(In thousands)
2022	$	216,674
2023	176,238
2024	129,740
2025	98,865
2026	81,736
Thereafter	32,490
Total	$	735,743

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

Marketable Securities

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


	December 31,
	2021		2020
	(In thousands)
Marketable equity security	$	19,788	$	—
Available for sale marketable debt securities	—		224,979
Total marketable securities	$	19,788	$	224,979

The Company has one investment in a marketable equity security at December 31, 2021, which is carried at fair value following the investee's initial public offering in 2021; prior to this investee's initial public offering, the investment was accounted for as an equity security without a readily determinable fair value. The Company recorded an unrealized gain of $18.8 million during the year ended December 31, 2021 for this investment. The Company sold its shares in another marketable equity security in the third quarter of 2021, which, prior to this investee's initial public offering, was accounted for as an equity security without a readily determinable fair value, and recorded a net realized gain of $7.2 million on the sale of this investment. The realized and unrealized gains related to these investments are included in "Other income (expense), net" in the statement of operations.

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 at December 31, 2020.

Investment in MGM Resorts International


	December 31,
	2021		2020
	(In thousands)
Investment in MGM Resorts International ("MGM")	$	2,649,442	$	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 that last trading day in the reporting period and any unrealized gains or losses are included in the statement of operations. For the years ended December 31, 2021 and 2020, the Company recorded unrealized gains on its investment in MGM of $789.3 million and $840.5 million, respectively. The cumulative gain through December 31, 2021 is $1.6 billion.

Long-term Investments

Long-term investments consist of:


	December 31,
	2021		2020
	(In thousands)
Equity securities without readily determinable fair values	$	324,649	$	296,491
Equity method investment	3,189		1,152
Total long-term investments	$	327,838	$	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" in the statement of operations as adjustments to the carrying value of equity securities without readily determinable fair values held at December 31, 2021 and 2020.


	Years Ended December 31,
	2021		2020
	(In thousands)
Upward adjustments (gross unrealized gains)	$	8,992	$	—
Downward adjustments including impairments (gross unrealized losses)	(100)		(51,484)
Total	$	8,892	$	(51,484)

During the first quarter of 2020, the Company recorded 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 December 31, 2021 were $28.7 million and $43.6 million, respectively.

Realized and unrealized gains and losses for the Company's investments without readily determinable fair values for the years ended December 31, 2021, 2020 and 2019 are as follows:


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Realized gains, net, for equity securities sold	$	5,773	$	1,873	$	20,883
Unrealized gains, net, on equity securities held	8,892		797,565		18,505
Total gains recognized, net	$	14,665	$	799,438	$	39,388

All gains and losses on equity securities without readily determinable fair values, realized and unrealized, are recognized in "Other income (expense), net" in the statement of operations.

Equity Method Investment

During 2021 and 2020, 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 ownership interest of approximately 27.5% on a fully diluted basis in the form of preferred shares, which are not common stock equivalents. The Company accounts for the equity losses for this investment on a one quarter lag.

Fair Value Measurements

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


	December 31, 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	$	1,660,921	$	—	$	—	$	1,660,921
Time deposits	—		6,057		—		6,057
Marketable equity security	19,788		—		—		19,788
Investment in MGM	2,649,442		—		—		2,649,442
Other non-current assets:
Warrant	—		—		109,294		109,294
Total	$	4,330,151	$	6,057	$	109,294	$	4,445,502

Liabilities:
Contingent consideration arrangements					$	(612)	$	(612)


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


	Years Ended December 31,
	2021				2020
	Warrant		Contingent Consideration Arrangements		Warrant		Contingent Consideration Arrangement
	(In thousands)
Balance at January 1	$	5,276	$	—	$	8,495	$	(6,918)
Fair value at date of acquisition	—		(620)		—		(1,000)
Total net gains (losses):
Fair value adjustments included in earnings	104,018		(14,992)		(3,219)		6,918
Settlements	—		15,000		—		1,000
Balance at December 31	$	109,294	$	(612)	$	5,276	$	—

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 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 balance sheet.

Contingent Consideration Arrangements

At December 31, 2021, the Company has two outstanding contingent consideration arrangements related to business combinations. The maximum contingent payments related to these arrangements is $7.0 million. During the third quarter of 2021, the Company recorded a $15.0 million loss related to one of these contingent consideration arrangements due to a change in estimate of the liability related to this arrangement. The amount was paid in full during the fourth quarter of 2021. The Company does not expect to make any further payments related to this contingent consideration arrangement. In connection with the Meredith acquisition on December 1, 2021, the Company assumed a contingent consideration arrangement liability of $0.6 million related to a prior Meredith business combination. 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. The contingent consideration arrangement liability at December 31, 2021 is included in "Accrued expenses and other current liabilities" in the balance sheet.

Financial instruments measured at fair value only for disclosure purposes

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


	December 31, 2021				December 31, 2020
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
Current portion of long-term debt	$	(30,000)	$	(29,550)	$	—	$	—
Long-term debt, net(a)	$	(2,046,237)	$	(2,061,450)	$	(712,277)	$	(725,700)

_________________

(a) At December 31, 2021 and 2020, the carrying value of long-term debt, net includes unamortized original issue discount and debt issuance costs of $23.8 million and $7.7 million, respectively.

At December 31, 2021 and 2020, the fair value of long-term debt, including the current portion, is estimated using observable market prices or indices for similar liabilities, which are Level 2 inputs.

- Definition

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

+ References + Details

LONG-TERM DEBT

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

LONG-TERM DEBT

Long-term debt consists of:


	December 31,
	2021		2020
	(In thousands)
Dotdash Meredith Debt
Dotdash Meredith Term Loan A ("Dotdash Meredith Term Loan A") due December 1, 2026	$	350,000	$	—
Dotdash Meredith Term Loan B ("Dotdash Meredith Term Loan B") due December 1, 2028	1,250,000		—
Total Dotdash Meredith long-term debt	1,600,000		—
Less: current portion of Dotdash Meredith long-term debt	30,000		—
Less: original issue discount	6,176		—
Less: unamortized debt issuance costs	12,139		—
Total Dotdash Meredith long-term debt, net	1,551,685		—

ANGI Group Debt
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	5,448		7,723
Total ANGI Group long-term debt, net	494,552		712,277

Total long-term debt, net	$	2,046,237	$	712,277

Dotdash Meredith Term Loans and Dotdash Meredith Revolving Facility

On December 1, 2021, Dotdash Meredith entered into a credit agreement ("Dotdash Meredith Credit Agreement"), which provides for (i) the five-year $350 million Dotdash Meredith Term Loan A, (ii) the seven-year $1.25 billion Dotdash Meredith Term Loan B (and together with Dotdash Meredith Term Loan A, the "Dotdash Meredith Term Loans") and (iii) a five-year $150 million revolving credit facility ("Dotdash Meredith Revolving Facility"). The proceeds of the Dotdash Meredith Term Loans were used to fund a portion of the purchase price for the acquisition of Meredith and pay related fees and expenses. The Dotdash Meredith Term Loan A bears interest at adjusted term secured overnight financing rate ("Adjusted Term SOFR") as defined in the Dotdash Meredith Credit Agreement plus an applicable margin depending on Dotdash Meredith's most recently reported consolidated net leverage ratio, as defined in the Dotdash Meredith Credit Agreement. At December 31, 2021, the Dotdash Meredith Term Loan A bore interest at Adjusted Term SOFR plus 2.00%, or 2.15%. The Dotdash Meredith Term Loan B bore interest at Adjusted Term SOFR, subject to a minimum of 0.50% plus 4.00%, or 4.50% at December 31, 2021. Interest payments are due at least quarterly through the terms of the Dotdash Meredith Term Loans.

The outstanding balances of the Dotdash Meredith Term A and Dotdash Meredith Term Loan B were $350.0 million and $1.25 billion at December 31, 2021, respectively. The Dotdash Meredith Term Loan A requires quarterly principal payments of $4.4 million through December 31, 2024, $8.8 million through December 31, 2025 and $13.1 million thereafter through maturity. The Dotdash Meredith Term Loan B requires quarterly payments of $3.1 million through maturity. Commencing December 31, 2022, pursuant to the Dotdash Meredith Credit Agreement, the Dotdash Meredith Term Loan B may require additional annual principal payments as part of an excess cash flow sweep provision, the amount of which, in part, is governed by the net leverage ratio.

There were no outstanding borrowings under the Dotdash Meredith Revolving Facility at December 31, 2021. The annual commitment fee on undrawn funds is based on the consolidated net leverage ratio, as defined in the Dotdash Meredith Credit Agreement, most recently reported and was 35 basis points at December 31, 2021. Any borrowings under the Dotdash Meredith Revolving Facility would bear interest, at Dotdash Meredith's option, at either a base rate or term benchmark rate, plus an applicable margin, which is based on Dotdash Meredith's net leverage ratio.

Commencing March 31, 2022, the Dotdash Meredith Credit Agreement requires Dotdash Meredith to maintain a consolidated net leverage ratio as of the last day of each quarter of no greater than 5.5 to 1.0 provided that either (i) $1.00 or more is drawn under the Dotdash Meredith Revolving Facility or Dotdash Meredith Term Loan A, or (ii) the outstanding face amount of undrawn letters of credit, other than cash collateralized letters of credit at 102%, exceeds $25 million, subject to certain increases for qualifying material acquisitions. The Dotdash Meredith Credit Agreement also contains covenants that would limit Dotdash Meredith’s ability to pay dividends or make distributions in the event a default has occurred or if Dotdash Meredith’s consolidated net leverage ratio (as defined in the Dotdash Meredith Credit Agreement) exceeds 4.0 to 1.0. There were no such limitations at December 31, 2021.

The obligations under the Dotdash Meredith Credit Agreement are guaranteed by certain of Dotdash Meredith's wholly-owned subsidiaries, and are secured by substantially all of the assets of Dotdash Meredith and certain of its subsidiaries.

ANGI Group Senior Notes

The ANGI Group Senior Notes were issued on August 20, 2020, the proceeds of which have been used for general corporate purposes, including the Angi Roofing acquisition, and treasury share repurchases. At any time prior to August 15, 2023, these notes may be redeemed at a redemption price equal to the sum of the principal amount thereof, plus accrued and unpaid interest and a make-whole premium. Thereafter, these notes may be redeemed at the redemption prices set forth below, plus accrued and unpaid interest thereon, if any, to the applicable redemption date, if redeemed during the twelve-month period beginning on August 15 of the years indicated below:


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

The indenture governing the ANGI Group Senior Notes contains a covenant that would limit ANGI Group’s ability to incur liens for borrowed money in the event a default has occurred or ANGI Group’s secured leverage ratio (as defined in the indenture) exceeds 3.75 to 1.0. At December 31, 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%.

Long-term Debt Maturities:

Long-term debt maturities at December 31, 2021 are summarized in the table below:


Years Ending December 31,	(In thousands)
2022	$	30,000
2023	30,000
2024	30,000
2025	47,500
2026	275,000
Thereafter	1,687,500
Total	2,100,000
Less: current portion of long-term debt	30,000
Less: unamortized original issue discount	6,176
Less: unamortized debt issuance costs	17,587
Total long-term debt, net	$	2,046,237

SHAREHOLDERS' EQUITY	12 Months Ended
SHAREHOLDERS' EQUITY	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS' EQUITY Description of Common Stock and Class B Convertible Common Stock Except as described herein, shares of IAC common stock and IAC Class B common stock are identical. Each holder of shares of IAC common stock and IAC Class B common stock vote together as a single class with respect to matters that may be submitted to a vote or for the consent of IAC's shareholders generally, including the election of directors. In connection with any such vote, each holder of IAC common stock is entitled to one vote for each share of IAC common stock held and each holder of IAC Class B common stock is entitled to ten votes for each share of IAC Class B common stock held. Notwithstanding the foregoing, the holders of shares of IAC common stock, acting as a single class, are entitled to elect 25% of the total number of IAC's directors, and, in the event that 25% of the total number of directors shall result in a fraction of a director, then the holders of shares of IAC common stock, acting as a single class, are entitled to elect the next higher whole number of IAC's directors. In addition, Delaware law requires that certain matters be approved by the holders of shares of IAC common stock or holders of IAC Class B common stock voting as a separate class. Shares of IAC Class B common stock are convertible into shares of IAC common stock at the option of the holder thereof, at any time, on a share-for-share basis. Such conversion ratio will in all events be equitably preserved in the event of any recapitalization of IAC by means of a stock dividend on, or a stock split or combination of, outstanding shares of IAC common stock or IAC Class B common stock, or in the event of any merger, consolidation or other reorganization of IAC with another corporation. Upon the conversion of shares of IAC Class B common stock into shares of IAC common stock, those shares of IAC Class B common stock will be retired and will not be subject to reissue. Shares of IAC common stock are not convertible into shares of IAC Class B common stock. The holders of shares of IAC common stock and the holders of shares of IAC Class B common stock are entitled to receive, share for share, such dividends as may be declared by IAC's Board of Directors out of funds legally available therefor. In the event of a liquidation, dissolution, distribution of assets or winding-up of IAC, the holders of shares of IAC common stock and the holders of shares of IAC Class B common stock are entitled to receive, share for share, all the assets of IAC available for distribution to its stockholders, after the rights of the holders of any IAC preferred stock have been satisfied. Equity Transactions related to the Spin-Off In connection with the Spin-Off, IAC amended its certificate of incorporation to provide for the following: •the reclassification of each share of IAC par value $0.001 common stock into (i) one share of IAC par value $0.0001 common stock and (ii) 1/100th of a share of IAC par value $0.01 Series 1 mandatorily exchangeable preferred stock that was automatically exchanged for 1.6235 shares of Vimeo common stock and then immediately retired; and •the reclassification of each share of IAC par value $0.001 Class B common stock into (i) one share of IAC par value $0.0001 Class B common stock and (ii) 1/100th of a share of IAC par value $0.01 Series 2 mandatorily exchangeable preferred stock that was automatically exchanged for 1.6235 shares of Vimeo Class B common stock and then immediately retired. Common Stock Repurchases On June 30, 2020, the Board of Directors of the Company authorized repurchases up to 8.0 million shares of common stock, which is equal to the number of shares that were available under the repurchase authorization at Old IAC immediately prior to the MTCH Separation. For the year ended December 31, 2021 and for the period from the MTCH Separation through December 31, 2020 there were no repurchases of IAC common stock.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

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-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 13
-Subparagraph (i)
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+ Details

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

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


	Year Ended December 31, 2021
	Foreign Currency Translation Adjustment		Unrealized Gains On Available-For-Sale Marketable Debt Securities		Accumulated Other Comprehensive (Loss) Income
	(In thousands)
Balance at January 1	$	(6,172)	$	2	$	(6,170)
Other comprehensive income (loss) before reclassifications	527		(2)		525
Amounts reclassified to earnings	10,032		—		10,032
Net current period other comprehensive income (loss)	10,559		(2)		10,557
Accumulated other comprehensive loss allocated to noncontrolling interests during the period	10		—		10
Balance at December 31	$	4,397	$	—	$	4,397


	Year Ended December 31, 2020
	Foreign Currency Translation Adjustment		Unrealized Gains On Available-For-Sale Marketable Debt Securities		Accumulated Other Comprehensive (Loss) Income
	(In thousands)
Balance at January 1	$	(12,226)	$	—	$	(12,226)
Other comprehensive income before reclassifications	6,236		2		6,238
Amounts reclassified to earnings	(144)		—		(144)
Net current period other comprehensive income	6,092		2		6,094
Accumulated other comprehensive income allocated to noncontrolling interests during the period	(38)		—		(38)
Balance at December 31	$	(6,172)	$	2	$	(6,170)


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

The amounts reclassified out of foreign currency translation adjustment into earnings for the years ended December 31, 2021 and 2020 relate to the substantial liquidation of certain international subsidiaries.

At December 31, 2021, 2020 and 2019, there was no tax benefit or provision on the accumulated other comprehensive income (loss).

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

EARNINGS PER SHARE

The Company treats its common stock and Class B common stock as one class of stock for net earnings (loss) per share 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.

For the calculation of diluted EPS, net earnings (loss) 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:


	Years Ended December 31,
	2021		2020		2019
	(In thousands, except per share data)
Basic EPS:
Numerator:
Net earnings from continuing operations	$	590,816	$	289,867	$	81,666
Net loss (earnings) attributable to noncontrolling interests of continuing operations	8,748		726		(9,945)
Net earnings attributed to unvested participating security	(20,160)		—		—
Net earnings from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	579,404	$	290,593	$	71,721

Net loss from discontinued operations, net of tax	$	(1,831)	$	(21,281)	$	(49,483)
Net (earnings) loss attributable to noncontrolling interests of discontinued operations	(186)		414		657
Net loss attributed to unvested participating security	68		—		—
Net loss from discontinued operations attributable to IAC Common Stock and Class B common stock shareholders	$	(1,949)	$	(20,867)	$	(48,826)

Net earnings attributable to IAC Common Stock and Class B common stock shareholders	$	577,455	$	269,726	$	22,895

Denominator:
Weighted average basic IAC Common Stock and Class B common stock shares outstanding (a)	86,222		85,355		85,132

Earnings (loss) per share:
Earnings per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	6.72	$	3.40	$	0.84
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders	$	(0.02)	$	(0.24)	$	(0.57)
Earnings per share attributable to IAC shareholders and Class B common stock shareholders	$	6.70	$	3.16	$	0.27


	Years Ended December 31,
	2021		2020		2019
	(In thousands, except per share data)
Diluted EPS
Numerator:
Net earnings from continuing operations	$	590,816	$	289,867	$	81,666
Net loss (earnings) attributable to noncontrolling interests of continuing operations	8,748		726		(9,945)
Net earnings attributed to unvested participating security	(18,981)		—		—
Impact from public subsidiary's dilutive securities (c)	406		71		—
Net earnings from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	580,989	$	290,664	$	71,721

Loss from discontinued operations, net of tax	$	(1,831)	$	(21,281)	$	(49,483)
Net (earnings) loss attributable to noncontrolling interests of discontinued operations	(186)		414		657
Net loss attributed to unvested participating security	64		—		—
Net loss from discontinued operations attributable to IAC Common Stock and Class B common stock shareholders	$	(1,953)	$	(20,867)	$	(48,826)

Net earnings attributable to IAC Common Stock and Class B common stock shareholders	$	579,036	$	269,797	$	22,895


Denominator:
Weighted average basic IAC Common Stock and Class B common stock shares outstanding (a)	86,222		85,355		85,132
Dilutive securities (b)(c)(d)(e)	5,606		5,593		—
Denominator for earnings per share—weighted average shares (b)(c)(d(e)	91,828		90,948		85,132

Earnings (loss) per share:
Earnings per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	6.33	$	3.20	$	0.84
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders	$	(0.02)	$	(0.23)	$	(0.57)
Earnings per share attributable to IAC Common Stock and Class B common stock shareholders	$	6.31	$	2.97	$	0.27

__________________________________________________________________

(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 EPS is used. While the restricted shares are presented as outstanding shares in the balance sheet, these shares are excluded from the weighted average shares outstanding in calculating basic EPS and the allocable portion of net earnings are also excluded. Fully diluted EPS reflects the impact on earnings and fully diluted shares in the manner that is most dilutive.

(b) The Company computed basic and diluted EPS 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 years ended December 31, 2021 and 2020 it is more dilutive for IAC to settle these Angi Inc. equity awards. The impact on net 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 the years ended December 31, 2021 and 2020, 3.0 million and 3.1 million, respectively, of potentially dilutive securities were excluded from the calculation of diluted EPS because their inclusion would have been anti-dilutive.

(e) See "Note 12—Stock-Based Compensation" for additional information on the grant of IAC restricted common stock to its CEO and equity instruments denominated in the shares of certain subsidiaries.

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

IAC Denominated Stock-based Awards

IAC currently has one active plan (the "Plan") under which stock-based awards denominated in shares of IAC common stock have been and may be granted. This Plan was an Old IAC plan and was adopted by the Company and became effective upon the consummation of the MTCH Separation. The Plan has a stated term of ten years. The Plan does not specify grant dates or vesting schedules of awards as those determinations have been delegated to the Compensation and Human Resources Committee of IAC's Board of Directors (the "Committee"). Each grant agreement reflects the vesting schedule for that particular grant as determined by the Committee. There are also outstanding stock-based awards that were granted under older plans that have since expired or been discontinued. The Plan provides for grants of stock options to acquire shares of IAC common stock (the exercise price of stock options granted will not be less than the market price of the Company's common stock on the grant date), RSUs denominated in shares of IAC common stock, including those that may be linked to the achievement of the Company's stock price, known as market-based awards ("MSUs") and those that may be linked to the achievement of a performance target, known as performance-based awards ("PSUs"), restricted stock, as well as other equity awards. The Plan authorizes the Company to grant awards to its employees, officers, directors and consultants. At December 31, 2021, there are 31.6 million shares of stock reserved for future issuance under this plan. This number reflects an adjustment to the number of shares originally authorized under the plan made in connection with the MTCH Separation and pursuant to the plan terms.

RSU awards currently outstanding generally cliff-vest after a three or five-year period in each case, from the grant date. All outstanding stock options are fully vested. There are no MSU or PSU awards outstanding at December 31, 2021 and 2020. The restricted stock award currently outstanding cliff vests on the ten-year anniversary of the November 5, 2020 grant date based on the satisfaction of IAC stock price targets and continued employment through the vesting date.

The amount of stock-based compensation expense recognized in the statement of operations is net of estimated forfeitures. The forfeiture rate is estimated at the grant date based on historical experience and revised, if necessary, in subsequent periods if actual forfeitures differ from the estimated rate. The expense ultimately recorded is for the awards that vest. At December 31, 2021, there is $365.1 million of unrecognized compensation cost, net of estimated forfeitures, related to all equity-based awards, which is expected to be recognized over a weighted average period of approximately 5.1 years.

The total income tax benefit recognized in the statement of operations for the years ended December 31, 2021, 2020 and 2019 related to all stock-based compensation is $101.8 million, $198.3 million and $81.5 million, respectively.

The aggregate income tax benefit recognized related to the exercise of stock options for the years ended December 31, 2021, 2020 and 2019, is $81.0 million, $165.8 million, and $64.0 million, respectively. As the Company is currently in a NOL position, there will be some delay in the timing of the realization of the cash benefit of the income tax deductions related to stock-based compensation because it is dependent upon the amount and timing of future taxable income and the timing of estimated income tax payments.

IAC Restricted Common Stock

On November 5, 2020, the Company entered into a new, ten-year employment agreement and a Restricted Stock Agreement ("RSA Agreement") with Joseph Levin, IAC's Chief Executive Officer. The RSA Agreement provides for a grant of 3,000,000 shares of IAC restricted common stock that cliff vest on the ten-year anniversary of the grant date based on satisfaction of IAC's stock price targets and Mr. Levin's continued employment through the vesting date.

Mr. Levin may request an extension of the measurement and vesting period from 10 to 12 years and IAC will consider the request in light of the circumstances.

Mr. Levin may elect to accelerate vesting of the IAC restricted shares, effective on the 6th, 7th, 8th, or 9th anniversary of the grant date, in which case performance will be measured through such date, and Mr. Levin will receive a pro-rated portion of the award (based on the years elapsed from the grant date) and any remaining shares will be forfeited. The applicable stock price goals are proportionately lower on the earlier vesting dates.

The value of restricted common stock grant was estimated using a lattice model that incorporates a Monte Carlo simulation of IAC's stock price. The fair value of the restricted common stock grant on November 5, 2020 was $61.06 per share. The total grant date fair value of the award was $183.2 million.

In connection with the Spin-off, pursuant to the RSA Agreement, the stock price targets of the IAC restricted stock award were adjusted to reflect the effect of the Spin-off and Vimeo entered into a separate restricted stock agreement granting Mr. Levin shares of Vimeo common stock subject to the same terms and conditions of the RSA Agreement except for the stock price targets for each respective award. The total fair value of the modified IAC restricted stock award and the new Vimeo restricted stock award was $228.3 million, of which $141.1 million was allocated to the IAC restricted stock award and $87.3 million was allocated to the Vimeo restricted stock award. Both awards were estimated using a lattice model that incorporated a Monte Carlo simulation of IAC's and Vimeo's stock price on the modification date. In connection with the modified IAC restricted stock award, $10.1 million of expense had previously been recorded prior to the Spin-off and $131.0 million of expense is to be recognized over the remaining vesting period.

IAC Restricted Stock Units

RSUs are awards in the form of phantom shares or units denominated in a hypothetical equivalent number of shares of IAC common stock and with the value of each RSU equal to the fair value of IAC common stock at the date of grant. Each RSU grant is subject to service-based vesting, where a specific period of continued employment must pass before an award vests. The expense is measured at the grant date as the fair value of IAC common stock and expensed as stock-based compensation over the vesting term.

Unvested RSUs outstanding at December 31, 2021 and changes during the period ended December 31, 2021 are as follows:


	RSUs
	Number of Shares	Weighted Average Grant Date Fair Value
	(Shares in thousands)
Unvested at January 1	1,503	$	107.62
Granted	35	208.18
Vested	(176)	34.71
Forfeited	(5)	144.39
Unvested at May 24, 2021 prior to the Spin-off adjustment	1,357	120.01
Unvested at May 25, 2021 after the Spin-off adjustment	2,039	79.85
Granted	30	127.77
Vested	(136)	69.80
Forfeited	(387)	86.47
Unvested at December 31	1,546	$	80.38

In connection to the Spin-off, all RSU awards outstanding immediately prior to the Spin-off were converted into a new RSU award with the number of shares under each new award adjusted by a ratio of 1.503 to preserve their fair value immediately before and immediately after the conversion with the same terms and conditions (including applicable vesting requirements) of the original award.

RSU awards are settled on a net basis, with the award holder entitled to receive IAC shares equal to the number of RSUs vesting less a number of shares with a value equal to the required cash tax withholding payment, which will be paid by the Company. The number of IAC common shares that would be required to net settle RSUs outstanding at February 11, 2022 is 0.9 million shares. In addition, withholding taxes, which will be paid by the Company on behalf of the employees upon vesting, would have been $108.6 million at February 11, 2022, assuming a 50% withholding rate.

The weighted average fair value of RSUs granted for the year ended December 31, 2021 and for the period from the MTCH Separation through December 31, 2020, based on market prices of IAC's common stock on the grant date was $171.53 and $128.82, respectively.

The total fair value of RSUs that vested for the year ended December 31, 2021 and for the period from the MTCH Separation through December 31, 2020 was $15.9 million and $3.8 million, respectively. During 2020, all outstanding MSUs vested. The total fair value of MSUs that vested for the period from the MTCH Separation through December 31, 2020 was $43.6 million.

IAC Stock Options

Stock options outstanding at December 31, 2021 and changes during the period ended December 31, 2021 are as follows:


	December 31, 2021
	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term in Years	Aggregate Intrinsic Value
	(Shares and intrinsic value in thousands)
Options Outstanding at January 1	3,909	$	21.08
Granted	—	—
Exercised	(89)	19.09
Forfeited	—	—
Expired	—	—
Options outstanding at May 24, 2021 prior to the Spin-off adjustment	3,820	21.12
Options outstanding at May 25, 2021 after the Spin-off adjustment	3,820	14.05
Granted	—	—
Exercised	(924)	14.27
Forfeited	—	—
Expired	—	—
Options Outstanding at December 31	2,896	$	13.98	3.9	$	338,005
Options exercisable	2,896	$	13.98	3.9	$	338,005

In connection with the Spin-off, IAC denominated stock options were converted into stock options to purchase IAC common stock and stock options to purchase Vimeo common stock in a manner that preserved the spread value of the stock options immediately before and immediately after the adjustment, with the allocation between the two stock options based on the value of a share of IAC common stock relative to the value of a share of Vimeo common stock multiplied by the spin-off exchange ratio of 1.6235.

The aggregate intrinsic value in the table above represents the difference between IAC's closing stock price on the last trading day of 2021 and the exercise price, multiplied by the number of in-the-money options that would have been exercised had all option holders exercised their options on December 31, 2021. The total intrinsic value of IAC stock options exercised during the year ended December 31, 2021 and for the period from the MTCH Separation through December 31, 2020 is $135.1 million and $74.8 million, respectively.

The following table summarizes the information about stock options outstanding and exercisable at December 31, 2021:


	Options Outstanding				Options Exercisable
Range of Exercise Prices	Outstanding at December 31, 2021	Weighted- Average Remaining Contractual Life in Years	Weighted- Average Exercise Price		Exercisable at December 31, 2021	Weighted- Average Remaining Contractual Life in Years	Weighted- Average Exercise Price
	(Shares in thousands)
Less than $10.00	567	4.1	$	8.57	567	4.1	$	8.57
$10.01 to $15.00	712	3.3	13.60		712	3.3	13.60
$15.01 to $20.00	1,613	4.1	16.04		1,613	4.1	16.04
Greater than $20.01	4	5.6	21.17		4	5.6	21.17





	2,896	3.9	$	13.98	2,896	3.9	$	13.98

The fair value of stock option awards, with the exception of market-based awards, is estimated on the grant date using the Black-Scholes option pricing model. The Black-Scholes option pricing model incorporates various assumptions, including expected volatility, risk-free interest rate and expected term.

The Company has the discretion to settle IAC stock options net of withholding tax and exercise price or require the award holder to pay its share of the withholding tax, which he or she may do so by selling IAC common shares. The aggregate intrinsic value of IAC's stock options outstanding as of February 11, 2022, is $345.6 million. Assuming all stock options outstanding on February 11, 2022 were net settled on that date, the Company would have issued 1.3 million common shares and would have remitted $172.8 million in cash for withholding taxes (assuming a 50% withholding rate). Assuming all stock options outstanding on February 11, 2022 were settled through the issuance of a number of IAC common shares equal to the number of stock options exercised, the Company would have issued 2.9 million common shares and would have received $40.5 million in cash proceeds.

Stock-based Awards Denominated in the Shares of Certain Subsidiaries

Non-publicly-traded Subsidiaries

The following description excludes awards denominated in Angi Inc. shares.

The Company has granted stock settled stock appreciation rights to employees and management that are denominated in the equity of certain non-publicly-traded subsidiaries of the Company. These equity awards vest over a period of years or upon the occurrence of certain prescribed events. The value of the stock settled stock appreciation rights is tied to the value of the common stock of these subsidiaries. Accordingly, these interests only have value to the extent the relevant business appreciates in value above the initial value utilized to determine the exercise price. These interests can have significant value in the event of significant appreciation. The fair value of these interest is generally determined by the Board of Directors of the applicable subsidiary, which will occur at various dates through 2029. These equity awards are settled on a net basis, with the award holder entitled to receive a payment in IAC common shares equal to the intrinsic value of the award at exercise less an amount equal to the required cash tax withholding payment, which will be paid by the Company. The number of IAC common shares ultimately needed to settle these awards may vary significantly from the estimated number below as a result of both movements in our stock price and a determination of fair value of the relevant subsidiary that is different than our estimate. The expense associated with these equity awards is initially measured at fair value at the grant date and is expensed as stock-based compensation over the vesting term. The number of IAC common shares that would be required to settle these interests at current estimated fair values, including vested and unvested interests, at February 11, 2022 is 0.2 million shares. Withholding taxes, which will be paid by the Company on behalf of the employees upon exercise, would have been $26.8 million at February 11, 2022, assuming a 50% withholding rate.

Angi Inc.

Angi Inc. currently settles all of its equity awards on a net basis. Certain Angi Inc. stock appreciation rights issued prior to the transaction resulting in formation of Angi Inc. in 2017 (the "Combination") are settleable in either shares of Angi Inc. common stock or shares of IAC common stock at IAC's option. If settled in IAC common stock, Angi Inc. reimburses IAC in shares of its common stock. The aggregate intrinsic value of these awards outstanding at February 11, 2022 is $5.3 million, assuming these awards were net settled on that date, the withholding taxes that would be payable by Angi Inc. are $2.7 million, assuming a 50% withholding rate, and Angi Inc. would have issued 0.3 million shares. Certain equity awards denominated in shares of Angi Inc.'s subsidiaries may be settled in either shares of Angi Inc. common stock or IAC common stock at IAC's option. To the extent shares of IAC common stock are issued in settlement of these awards, Angi Inc. is obligated to reimburse IAC for the cost of those shares by issuing shares of Angi Inc. common stock. The aggregate intrinsic value of all other Angi Inc. equity awards, including stock options, RSUs and subsidiary denominated equity at February 11, 2022 is $131.7 million; assuming these awards were net settled on that date, the withholding taxes that would be payable are $65.0 million, assuming a 50% withholding rate, and Angi Inc. would have issued 7.7 million shares of its common stock.

Modification of awards

During 2020, the Company modified certain equity awards in connection with the MTCH Separation and recognized a modification charge of $56.6 million, of which $55.7 million was recognized as stock-based compensation expense in the year ended December 31, 2020 and the remaining charge will be recognized over the vesting period of the modified awards. In addition, certain other equity awards were modified during 2020 resulting in modification charges of $20.5 million in the aggregate, of which $14.1 million was recorded by Angi Inc.

During 2019, certain equity awards were modified resulting in modification charges of $12.9 million.

In connection with the Combination, the previously issued HomeAdvisor (US) stock appreciation rights were converted into Angi Inc. equity awards resulting in a modification charge of $217.7 million of which $0.9 million, $21.1 million and $29.0 million were recognized as stock-based compensation expense in the years ended December 31, 2021, 2020 and 2019, respectively. At December 31, 2021, there is no expense remaining related to this modification.

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 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 the chief operating decision maker's view of 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 determination of operating segments for Meredith is not yet complete; therefore, it is possible that a lower level of segment reporting may be required for Meredith.

The following table presents revenue by reportable segment:


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Revenue:
Dotdash Meredith
Digital	$	367,134	$	213,753	$	167,594
Print	92,002		—		—
Intra-segment eliminations(a)	(2,863)		—		—
Total Dotdash Meredith	456,273		213,753		167,594
Angi Inc.	1,685,438		1,467,925		1,326,205
Search	873,346		613,274		742,184
Emerging & Other	685,175		469,759		274,107
Inter-segment eliminations	(605)		(175)		(110)
Total	$	3,699,627	$	2,764,536	$	2,509,980

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


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Dotdash Meredith
Digital:
Display advertising revenue	$	236,660	$	137,455	$	126,350
Performance marketing revenue	116,195		76,298		41,244
Licensing and other revenue	14,279		—		—
Total digital revenue	367,134		213,753		167,594
Print:
Subscription revenue	34,634		—		—
Newsstand revenue	19,183		—		—
Project and other revenue	16,414		—		—
Advertising revenue	13,678		—		—
Performance marketing revenue	8,093		—		—
Total print revenue	92,002		—		—
Intra-segment eliminations(a)	(2,863)		—		—
Total Dotdash Meredith revenue	$	456,273	$	213,753	$	167,594


	Years Ended December 31,
	2021		2020		2019
	(In thousands)

(a) Includes $2.8 million of intra-segment eliminations related to digital performance marketing revenue.

Angi Inc.
North America
Angi Ads and Leads:
Consumer connection revenue(b)	$	896,711	$	899,175	$	867,307
Advertising revenue(c)	252,010		226,505		214,259
Membership subscription revenue(d)	68,062		74,073		92,975
Other revenue	27,812		33,136		23,844
Total Angi Ads and Leads revenue	1,244,595		1,232,889		1,198,385
Angi Services revenue(e)	357,976		162,539		51,507
Total North America revenue	1,602,571		1,395,428		1,249,892
Europe
Consumer connection revenue(f)	68,686		57,692		59,611
Service professional membership subscription revenue	12,939		13,091		14,231
Advertising and other revenue	1,242		1,714		2,471
Total Europe revenue	82,867		72,497		76,313
Total Angi Inc. revenue	$	1,685,438	$	1,467,925	$	1,326,205

(b) Includes fees paid by service professionals for consumer matches through Angi Ads and Leads platforms.
(c) Includes revenue from service professionals under contract for advertising.
(d) Includes membership subscription revenue from service professionals and consumers.
(e) Includes revenue from pre-priced offerings and revenue from Angi Roofing.
(f) Includes fees paid by service professionals for consumer matches.

Search
Advertising revenue:
Google advertising revenue	$	675,892	$	506,077	$	678,438
Non-Google advertising revenue	183,427		90,286		47,583
Total advertising revenue	859,319		596,363		726,021
Other revenue	14,027		16,911		16,163
Total Search revenue	$	873,346	$	613,274	$	742,184

Emerging & Other
Subscription revenue	$	367,159	$	303,482	$	194,362
Marketplace revenue	243,816		138,726		38,950
Media production and distribution revenue	44,517		3,585		8,897
Advertising revenue:
Non-Google advertising revenue	19,047		16,236		23,372
Google advertising revenue	2,981		3,130		4,486
Total advertising revenue	22,028		19,366		27,858
Service and other revenue	7,655		4,600		4,040
Total Emerging & Other revenue	$	685,175	$	469,759	$	274,107

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


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Revenue:
United States	$	3,184,653	$	2,309,504	$	1,997,662
All other countries	514,974		455,032		512,318
Total	$	3,699,627	$	2,764,536	$	2,509,980


	December 31,
	2021		2020
	(In thousands)
Long-lived assets (excluding goodwill, intangible assets and ROU assets):
United States	$	562,628	$	263,620
All other countries	7,897		11,310
Total	$	570,525	$	274,930

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


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Operating income (loss):
Dotdash Meredith
Digital	$	73,980	$	50,241	$	29,021
Print	(6,527)		—		—
Other	(60,277)		—		—
Total Dotdash Meredith	7,176		50,241		29,021
Angi Inc.	(76,513)		(6,368)		38,645
Search	108,334		(248,711)		122,347
Emerging & Other	(22,738)		(70,896)		(21,790)
Corporate	(153,326)		(261,929)		(162,489)
Total	$	(137,067)	$	(537,663)	$	5,734


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Adjusted EBITDA:(g)
Dotdash Meredith
Digital	$	91,179	$	66,206	$	39,601
Print	$	2,639	$	—	$	—
Other	$	(60,196)	$	—	$	—
Angi Inc.	$	27,865	$	172,804	$	202,297
Search	$	108,381	$	51,344	$	124,163
Emerging & Other	$	33,383	$	(37,699)	$	(28,368)
Corporate	$	(95,985)	$	(147,433)	$	(88,465)

_______________________________________________________________________________

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


	Year Ended December 31, 2021
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Adjustments		Adjusted EBITDA
	(In thousands)
Dotdash Meredith
Digital	$	73,980	$	1,438	$	4,257	$	11,512	$	(8)	$	91,179
Print	(6,527)		$	—	$	1,827	$	7,339	$	—	$	2,639
Other	(60,277)		$	—	$	81	$	—	$	—	$	(60,196)
Angi Inc.	(76,513)		$	28,702	$	59,246	$	16,430	$	—	$	27,865
Search	108,334		$	—	$	47	$	—	$	—	$	108,381
Emerging & Other	(22,738)		$	101	$	1,462	$	39,558	$	15,000	$	33,383
Corporate (h)	(153,326)		$	49,246	$	8,095	$	—	$	—	$	(95,985)
Total	(137,067)
Interest expense	(34,264)
Unrealized gain on investment in MGM	789,283
Other income, net	111,854
Earnings from continuing operations before income taxes	729,806
Income tax provision	(138,990)
Net earnings from continuing operations	590,816
Loss from discontinued operations, net of tax	(1,831)
Net earnings	588,985
Net loss attributable to noncontrolling interests	8,562
Net earnings attributable to IAC shareholders	$	597,547


	Year Ended December 31, 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)
Dotdash Meredith	$	50,241	$	—	$	1,794	$	14,171	$	—	$	—	$	66,206
Angi Inc.	(6,368)		$	83,649	$	52,621	$	42,902	$	—	$	—	$	172,804
Search	(248,711)		$	—	$	2,709	$	32,200	$	—	$	265,146	$	51,344
Emerging & Other	(70,896)		$	100	$	2,449	$	37,566	$	(6,918)	$	—	$	(37,699)
Corporate (h)	(261,929)		$	105,246	$	9,250	$	—	$	—	$	—	$	(147,433)
Total	(537,663)
Interest expense	(16,166)
Unrealized gain on investment in MGM	840,550
Other expense, net	(42,561)
Earnings from continuing operations before income taxes	244,160
Income tax benefit	45,707
Net earnings from continuing operations	289,867
Loss from discontinued operations, net of tax	(21,281)
Net earnings	268,586
Net loss attributable to noncontrolling interests	1,140
Net earnings attributable to IAC shareholders	$	269,726


	Year Ended December 31, 2019
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Adjustments		Goodwill Impairment		Adjusted EBITDA
	(In thousands)
Dotdash Meredith	$	29,021	$	—	$	974	$	9,606	$	—	$	—	$	39,601
Angi Inc.	38,645		$	68,255	$	39,915	$	55,482	$	—	$	—	$	202,297
Search	122,347		$	—	$	1,816	$	—	$	—	$	—	$	124,163
Emerging & Other	(21,790)		$	—	$	715	$	9,127	$	(19,738)	$	3,318	$	(28,368)
Corporate (h)	(162,489)		$	61,973	$	12,051	$	—	$	—	$	—	$	(88,465)
Total	5,734
Interest expense	(11,904)
Other income, net	40,487
Earnings from continuing operations before income taxes	34,317
Income tax benefit	47,349
Net earnings from continuing operations	81,666
Loss from discontinued operations, net of tax	(49,483)
Net earnings	32,183
Net earnings attributable to noncontrolling interests	(9,288)
Net earnings attributable to IAC shareholders	$	22,895

_______________________________________________________________________________

(h) Includes stock-based compensation expense for awards denominated in the shares of certain subsidiaries of the Company.

The following table presents capital expenditures by reportable segment:


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Capital expenditures:




Dotdash Meredith	$	4,823	$	5,445	$	—
Angi Inc.	70,215		52,488		68,804
Search	178		47		43
Emerging & Other	894		1,363		387
Corporate	14,100		1,383		25,863
Total	$	90,210	$	60,726	$	95,097

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 21
-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-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
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-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

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-Publisher FASB
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

LEASES

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

LEASES

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

ROU assets represent the Company’s right to use the underlying assets for the lease term and lease liabilities represent the present value of the Company’s obligation to make payments arising from these leases. ROU assets and related lease liabilities are based on the present value of fixed lease payments over the lease term using the Company's and certain of its subsidiaries' respective incremental borrowing rates on the lease commencement date, January 1, 2019 for leases that commenced prior to that date, or, in the case of acquisitions subsequent to January 1, 2019, the date of acquisition (see "Note 5—Business Combinations" for additional information regarding the provisional nature of amounts recorded for the acquisition of Meredith). The Company combines the lease and non-lease components of lease payments in determining ROU assets and related lease liabilities. If the lease includes one or more options to extend the term of the lease, the renewal option is considered in the lease term if it is reasonably certain the Company will exercise the option(s). Lease expense is recognized on a straight-line basis over the term of the lease. As permitted by ASC 842, leases with an initial term of twelve months or less ("short-term leases") are not recorded on the balance sheet.

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


		December 31,
Leases	Balance Sheet Classification	2021		2020
		(In thousands)
Assets:
Right-of-use assets(a)	Other non-current assets	$	498,337	$	170,153

Liabilities:
Current lease liabilities	Accrued expenses and other current liabilities	$	63,521	$	27,143
Long-term lease liabilities	Other long-term liabilities	578,272		205,362
Total lease liabilities(a)		$	641,793	$	232,505

_____________________

(a) The acquisition of Meredith resulted in increases of ROU assets and lease liabilities of $358.6 million and $434.8 million, respectively.


		Years Ended December 31,
Lease Expense	Income Statement Classification	2021		2020		2019
		(In thousands)
Fixed lease expense	Cost of revenue	$	1,707	$	2,183	$	547
Fixed lease expense	Selling and marketing expense	9,443		12,591		10,749
Fixed lease expense	General and administrative expense	31,104		20,923		13,786
Fixed lease expense	Product development expense	1,756		3,016		1,502
Total fixed lease expense(b)		44,010		38,713		26,584
Variable lease expense	Cost of revenue	—		—		83
Variable lease expense	Selling and marketing expense	1,087		2,314		1,573
Variable lease expense	General and administrative expense	8,176		7,314		5,657
Variable lease expense	Product development expense	639		934		391
Total variable lease expense		9,902		10,562		7,704
Net lease expense		$	53,912	$	49,275	$	34,288

_____________________

(b) Includes approximately $10.5 million, $5.8 million and $2.6 million of lease impairment charges, $1.4 million, $2.5 million and $2.0 million of short-term lease expense, and $6.7 million, $5.3 million and $7.4 million of sublease income, for the years ended December 31, 2021, 2020 and 2019, respectively.

Maturities of lease liabilities at December 31, 2021(c):


Years Ended December 31,	In thousands
2022	$	95,944
2023	95,764
2024	94,183
2025	85,773
2026	81,372
Thereafter	472,535
Total	925,571
Less: Interest	283,778
Present value of lease liabilities	$	641,793

_____________________

(c) Lease payments exclude $1.2 million of legally binding minimum lease payments for leases signed but not yet commenced.

The following are the weighted average assumptions used for lease term and discount rate at December 31, 2021 and 2020:


	December 31,
	2021		2020
Remaining lease term	11.8 years		15.5 years
Discount rate	5.54	%	5.67	%


	December 31,
	2021		2020
	(In thousands)
Other Information:
Right-of-use assets obtained in exchange for lease liabilities (d)	$	442,205	$	80,314
Cash paid for amounts included in the measurement of lease liabilities	$	44,659	$	41,377

_____________________

(d) Includes $437.7 million related to Meredith as of the date of its acquisition..

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

Commitments

The Company has entered into certain off-balance sheet commitments that require the future purchase of services ("purchase obligations") to be used in the normal course of operations. Future payments under noncancelable unconditional purchase obligations at December 31, 2021 are as follows:


	Amount of Commitment Expiration Per Period
	Less Than 1 Year		1-3 Years		3-5 Years		More Than 5 Years		Total Amounts Committed
	(In thousands)
Purchase obligations	$	74,897	$	16,040	$	474	$	—	$	91,411

Purchase obligations include payments of (i) $26.4 million related to advertising that will run in 2022, (ii) $9.1 million related to a cloud computing arrangement, (iii) $7.1 million related to email and office productivity tools, (iv) $6.1 million related to communication spend, (v) $4.2 million related to research tools, and (vi) $3.1 million related to background check services.

Lease Guarantees

In connection with the acquisition of Meredith, Dotdash Meredith guarantees a lease through January 2023 and another through November 2030. The carrying value of those guarantees is recorded in "Other long-term liabilities" in the balance sheet and was $1.9 million at December 31, 2021. The maximum obligation for which the Company would be liable if the primary obligors fail to perform under the lease agreements was $11.1 million at December 31, 2021.

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 3—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 alleged 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 asserted inter alia claims for breach of contract and interference with contractual relations and prospective economic advantage and sought 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 based upon the 2017 valuation and subsequent merger intact. The defendants appealed, and in May 2020, the Appellate Division, First Department, reaffirmed the lower court's decision on different grounds.

In July 2020, the four individuals who earlier had discontinued their claims in the New York lawsuit commenced separate 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 April 2021, the respondents in the California arbitration filed a motion for summary judgment dismissing the claimants' merger-related claims; in August 2021, the arbitrator issued an order granting the motion.

In July 2021, the defendants in the New York lawsuit filed a motion for summary judgment. In October 2021, the court issued an order granting the motion in part and denying it in part. The court dismissed the plaintiffs’ merger-related contract claims and remaining tort claims, leaving for trial only the claims for breach of contract arising out of the 2017 valuation of Tinder by the independent investment banks. These claims centered on whether the investment banks were provided with adequate information to conduct their valuation and whether plaintiff Rad had adequate access to the banks and to Tinder management during the valuation process.

A jury trial in the New York lawsuit commenced on November 8, 2021. On December 1, 2021, the parties executed and presented to the court a binding settlement term sheet, pursuant to which Match Group would pay the sum of $441 million to the plaintiffs and the claimants in the California arbitration in full settlement of all claims against all defendants and respondents, including IAC, in those proceedings and in exchange for appropriate releases; the court approved the term sheet and discharged the jury. The settlement does not obligate IAC to make any payment. The parties currently are negotiating the terms of a definitive settlement agreement as called for by the term sheet.

Pursuant to the Transaction Agreement (as defined in Note 1—Organization-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

12 Months Ended

Dec. 31, 2021

RELATED PARTY TRANSACTIONS

Relationship with Old IAC prior to the MTCH Separation

The Company’s statement of operations for the years ended December 31, 2020 and 2019 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. 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. Allocated costs, inclusive of stock-based compensation expense, in 2020 prior to the MTCH Separation, were $85.5 million. Allocated costs, inclusive of stock-based compensation expense, were $146.0 million for the year ended December 31, 2019. 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 $0.1 million in 2020 prior to the MTCH Separation, and $0.4 million for the year ended December 31, 2019, and is included in ‘‘Interest income, net’’ in the table below.

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


	Six Months Ended June 30, 2020, the date of the MTCH Separation		Year Ended December 31, 2019

	(In thousands)
Cash transfers from Old IAC related to its centrally managed U.S. treasury management function, acquisitions and cash expenses paid by Old IAC on behalf of the Company, net	$	(1,742,854)	$	(182,382)
Contribution of buildings to Match Group	34,973		—
Taxes	34,436		(1,874)
Allocation of costs from Old IAC	(12,652)		(80,143)
Interest income, net	102		420
Net increase in Old IAC's investment in the Company prior to the MTCH Separation	$	(1,685,995)	$	(263,979)

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 six months ended June 30, 2020, the date of the MTCH Separation, and for the year ended December 31, 2019, Old MTCH incurred rent expense of $1.4 million and $5.8 million respectively, for leasing office space for certain of its businesses at properties owned by the Company. The amounts were paid in full by Old MTCH at the date of the MTCH Separation and at December 31, 2019, respectively. After 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 the six months ended June 30, 2020, the date of the MTCH Separation, the Company paid Old MTCH less than $0.1 million under the lease. Old MTCH issued 1.4 million shares of Old MTCH common stock to Old IAC for the buildings.

IAC and Angi Inc.

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

For the year ended December 31, 2021, 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 IAC common stock issued in connection with the exercise and vesting of IAC equity awards held by Angi Inc. employees. For the years ended December 31, 2020 and 2019, 0.3 million and 0.5 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 for periods after the MTCH Separation, and Old IAC common stock, issued for periods prior to the MTCH Separation, in connection with the exercise and vesting of IAC and Old IAC equity awards held by Angi Inc. employees.

For the year ended December 31, 2021, 2.6 million shares 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 years ended December 31, 2020 and 2019, respectively.

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 December 31, 2021, Vimeo had no outstanding payables or receivables 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 December 31, 2021.

For the period of May 25, 2021 through December 31, 2021, Vimeo was charged $0.9 million by IAC for services rendered pursuant to the transition services agreement. At December 31, 2021, there were no outstanding receivables or payables pursuant to the transition services agreement.

Vimeo has an outstanding payable due to the Company of $6.4 million at December 31, 2021 related primarily to reimbursements due to the Company for the exercise of Vimeo equity awards held by employees of the Company and Vimeo’s participation in the Company’s employee benefit plans. This amount is included in “Other current assets" in the balance sheet at December 31, 2021. This amount was paid in full in January 2022.

For the period of May 25, 2021 through December 31, 2021, Vimeo was charged $2.6 million of rent pursuant to the lease agreement. At December 31, 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 three aircraft that may be used by both companies. In the third quarter of 2021, the Company and Expedia accepted delivery of the corporate aircraft that the Company and Expedia had entered into an agreement in 2019 to jointly acquire for a total cost of $71.4 million (including purchase price and related costs), with each company bearing 50% of such cost. In connection with the purchase agreement the Company paid approximately $23 million in 2019 and approximately $12.7 million in the third quarter of 2021 upon delivery of the new aircraft. 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. In addition, in December 2021, the Company and Expedia entered into agreements pursuant to which Expedia may use additional aircraft owned by a subsidiary of the Company on a cost basis. No payments have been made by Expedia pursuant to this arrangement to date. The Company and Expedia are related parties because Mr. Diller serves as Chairman and Senior Executive of both IAC and Expedia. For the years ended December 31, 2021, 2020 and 2019, total payments made to this entity by the Company were not material.

PENSION AND POSTRETIREMENT BENEFIT PLANS

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

PENSION AND POSTRETIREMENT BENEFIT PLANS

Pension and Postretirement Plans

In connection with the acquisition of Meredith, the Company assumed the obligations under Meredith’s various pension plans. The plans include U.S. noncontributory pension plans that covers substantially all employees who were employed by Meredith prior to January 1, 2018. There are two international pension plans in the U.K.; the international plans have no active participants. These domestic and international plans include qualified (funded) plans as well as nonqualified (unfunded) plans. These plans provide participating employees with retirement benefits in accordance with benefit provision formulas. The nonqualified pension plans provide retirement benefits to certain highly compensated employees. The Company also assumed Meredith's defined healthcare and life insurance plans that provide benefits to eligible retirees.

Obligations and Funded Status

The following tables present changes in, and components of, the Company's net assets/liabilities for pension and other postretirement benefits:


	Year Ended December 31, 2021
	Pension				Postretirement
	Domestic		International		Domestic
	(in thousands)
Change in benefit obligation
Benefit obligation, beginning of year	$	—	$	—	$	—
Acquisitions(a)	154,920		850,774		10,923
Service cost	368		—		1
Interest cost	224		981		22


Net actuarial gain	(158)		(54,660)		(132)
Benefits paid (including lump sums)	(339)		(1,529)		(6)
Settlements	—		(9,361)		—
Contractual termination benefits	11,785		—		—
Foreign currency exchange rate impact	—		4,458		—
Benefit obligation, end of year	166,800		790,663		10,808
Change in plan assets
Fair value of plan assets, beginning of year	—		—		—
Acquisitions(a)	129,765		1,053,902		—
Actual return on plan assets	2,886		(62,744)		—
Employer contributions	14		29,229		6

Benefits paid (including lump sums)	(339)		(1,529)		(6)
Settlements	—		(9,361)		—
Foreign currency exchange rate impact	—		5,777		—
Fair value of plan assets, end of year	132,326		1,015,274		—
(Under) over funded status, end of year	$	(34,474)	$	224,611	$	(10,808)

_____________________

(a) All pension and postretirement plans were acquired with the acquisition of Meredith on December 1, 2021.

The net actuarial gain included in the change in benefit obligation for the international pension plans for the year ended December 31, 2021, is primarily a result of the increase in the discount rate used at December 31, 2021, as compared to December 1, 2021, as well as a slight decrease in the inflation assumptions over the same period, partially offset by experience losses due to certain plan participants electing a full settlement of their benefit obligation under an ongoing enhanced transfer value exercise.

Benefits paid directly from Dotdash Meredith assets are included both in employer contributions and benefits paid.

The following amounts are recognized in the December 31, 2021 balance sheet:


	Year Ended December 31, 2021
	Pension				Postretirement
	Domestic		International		Domestic
	(in thousands)
Other non-current assets
Prepaid benefit cost	$	24,318	$	231,791	$	—
Accrued expenses and other current liabilities
Accrued benefit liability	(52,523)		—		(1,146)
Other long-term liabilities
Accrued benefit liability	(6,269)		(7,180)		(9,662)
Net amount recognized	$	(34,474)	$	224,611	$	(10,808)

The accumulated benefit obligation for the domestic defined benefit pension plans was $159.2 million at December 31, 2021. The accumulated benefit obligation for the international defined benefit pension plans was $790.7 million at December 31, 2021.

The following table provides information about pension plans with projected benefit obligations and accumulated benefit obligations in excess of plan assets:


	Year Ended December 31, 2021
	Domestic		International
	(in thousands)
Projected benefit obligation	$	58,789	$	7,179
Accumulated benefit obligation	$	57,669	$	7,179
Fair value of plan assets	$	—	$	—

Costs

The components of net periodic benefit costs recognized in the statement of operations were as follows:


	Year Ended December 31, 2021
	Pension				Postretirement
	Domestic		International		Domestic
	(in thousands)
Components of net periodic benefit costs
Service cost	$	368	$	—	$	1
Interest cost	224		981		22
Expected return on plan assets	(564)		(1,640)		—

Actuarial (gain) loss amortization	(2,480)		9,724		(132)

Contractual termination benefits	11,785		—		—
Net periodic benefit costs (credit)	$	9,333	$	9,065	$	(109)

The contractual termination benefit charge for the domestic plans were related to change in control agreements for six executives. The change in control payments were triggered by IAC's acquisition of Meredith and the subsequent termination of the affected executives. The employment agreements for the covered executives provided for immediate vesting in any unvested benefits, as well as an additional three years of continued service, age and pay credit in each of the pension plans in which they were participants.

The components of net periodic benefit costs (credit), other than the service cost component, are included in "Other income (expense), net" in the statement of operations.

Assumptions

Benefit obligations were determined using the following weighted average assumptions:


	Year Ended December 31, 2021
	Pension				Postretirement
	Domestic		International		Domestic
Weighted average assumptions
Discount rate	2.04	%	1.67	%	2.61	%
Rate of compensation increase	2.95	%	N/A		3.50	%
Cash balance interest rate credit	2.13	%	N/A		N/A

Net periodic benefit costs (credit) were determined using the following weighted average assumptions:


	Year Ended December 31, 2021
	Pension				Postretirement
	Domestic		International		Domestic
Weighted average assumptions
Discount rate	2.02	%	1.40	%	2.52	%
Expected return on plan assets	6.00	%	1.90	%	N/A
Rate of compensation increase	2.90	%	N/A		3.50	%
Cash balance interest credit rate	2.04	%	N/A		N/A

The assumed healthcare trend rates used to measure the expected cost of benefits were as follows:


	Postretirement
Assumed healthcare cost trend rate
Rate of increase in healthcare cost levels
Initial level	6.50	%
Ultimate level	5.00	%
Years to ultimate level	6

Pension expense is calculated using a number of actuarial assumptions, including an expected long-term rate of return on assets and a discount rate. In developing the expected long-term rate of return on plan assets, the Company considered long-term historical rates of return, plan asset allocations as well as the opinions and outlooks of investment professionals and consulting firms. Returns projected by such consultants and economists are based on broad equity and bond indices. The objective is to select an average rate of earnings expected on existing plan assets and expected contributions to the plan during the year. The Company reviews this long-term assumption on a periodic basis. Since the Company utilizes the mark-to-market approach to account for pension and postretirement benefits, the expected long-term rate of return on assets has no effect on the overall amount of net periodic benefit cost (credit) recorded for the year.

The value (market-related value) of plan assets is multiplied by the expected long-term rate of return on assets to compute the expected return on plan assets, a component of net periodic pension cost. The market-related value of plan assets is a calculated value that recognizes changes in fair value over three years.

Plan Assets

The targeted and weighted average asset allocations by asset category for investments held by the Company’s pension plans are as follows:


	Year Ended December 31, 2021
	Domestic Allocation		International Allocation
	Target	Actual	Target	Actual
Equity securities	62%	63%	1%	2%
Fixed income securities	38%	36%	63%	63%
Other securities (b)	—%	1%	36%	35%
Total	100%	100%	100%	100%

_____________________

(b) Other primarily includes pooled investment funds and an insurance buy-in contract.

The Company’s investment policy for domestic plans seeks to maximize investment returns while balancing the Company’s tolerance for risk. The plan fiduciaries of the U.S. funded (qualified) pension plan oversee the investment allocation process by selecting investment managers, setting long-term strategic targets, and monitoring asset allocations. Target allocation ranges are guidelines, not limitations, and plan fiduciaries may occasionally approve allocations above or below a target range, or elect to rebalance the portfolio within the targeted range. The investment portfolio contains a diversified blend of equity and fixed-income investments. Furthermore, equity investments are diversified across domestic and international stocks and between growth and value stocks and small and large capitalizations. The primary investment strategy currently employed is a dynamic target allocation method that periodically rebalances among various investment categories depending on the current funded position. This program is designed to actively move from return-seeking investments (such as equities) toward liability-hedging investments (such as fixed-income) as funding levels improve. The reverse effect occurs when funding levels decrease.

The trustees of the IPC Media Pension Scheme (IPC Plan) defined benefit pension plan in the U.K. have delegated the day-to-day investment decisions of the IPC Plan to a large international fiduciary manager and utilize an investment manager to monitor the investment performance and the reporting of the fiduciary manager. The investment objective of the IPC Plan is to invest the assets prudently with the intention that the benefits promised to the members are provided. Funding level based de-risking triggers have been established such that the investment strategy evolves as the funding level moves along an agreed glide path. As the funding level improves, the investment strategy will de-risk. Each trigger level specifies a minimum interest rate and hedge rate ratio and a maximum allocation to growth assets, which target a diversified portfolio using specialist managers and asset classes.

Equity securities did not include any IAC common stock at December 31, 2021.

Fair value measurements for the U.S. funded (qualified) pension plan assets were as follows:


	December 31, 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)
Investments in registered investment companies
Equity	$	65,982	$	17,866	$	—	$	83,848
Fixed income	7,442		39,148		—		46,590
Pooled separate accounts	—		1,888		—		1,888
Total assets at fair value	$	73,424	$	58,902	$	—	$	132,326

Fair value measurements for the international pension plan assets were as follows:


	December 31, 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)
Cash and cash equivalents	$	63,245	$	—	$	—	$	63,245
Pooled investments
Equity	1,154		9,728		—		10,882
Fixed income	6,276		45,362		—		51,638
Other	—		576,414		—		576,414
Insurance buy-in contract	—		—		313,095		313,095
Total assets at fair value	$	70,675	$	631,504	$	313,095	$	1,015,274

The international pension plans hold investments in liability matching funds whose objective is to provide leveraged returns equal to that of the liabilities. In order to do so, these funds invest in UK Treasury Gilt bonds, Gilt Total Return Swaps, Repurchase Transactions, and cash or money markets to provide liquidity to meet payment obligations or post as collateral in the derivative transactions they enter. These liability matching funds are included in Other pooled investments in the table above.

To reduce risk without adversely affecting returns, the trustees entered into an insurance buy-in contract with a private limited life insurance company to insure a portion of the IPC Plan, covering approximately 30 percent of IPC Plan participants, which is intended to provide payments designed to equal all future designated contractual benefit payments to covered participants. The benefit obligation was not transferred to the insurer, and the Company remains responsible for paying pension benefits. The assets and liabilities with respect to insured participants are assumed to match (i.e., the full benefits have been insured). The initial value of the asset associated with this contract was equal to the premium paid to secure the contract and is adjusted each reporting period to reflect the estimated fair value of the premium that would be paid for such a contract at that time. As the valuation of this asset is judgmental, and there are no observable inputs associated with the valuation, the insurance buy-in contract is presented as a Level 3 investment. Refer to "Note 2—Summary of Significant Accounting Policies" for a discussion of the three levels in the hierarchy of fair values.

The following table provides a reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3):


	December 31, 2021
	(In thousands)
Balance at beginning of year	$	—
Acquisitions	327,722
Settlements	(1,040)
Change in fair value	(15,326)
Foreign currency translation	1,739
Balance at end of year	$	313,095

There were no transfers in or out of Level 3 investments for the years ended December 31, 2021.

Cash Flows

Although the Company does not have a minimum funding requirement for the domestic pension plans in 2022, the Company is currently determining what voluntary pension plan contributions, if any, will be made in 2022 to the domestic plan. Actual contributions will be dependent upon investment returns, changes in pension obligations, and other economic and regulatory factors. The Company expects to contribute $1.2 million to its postretirement plan in 2022.

Monthly contributions of £0.9 million (totaling £22.0 million over the two years ending in December 2023) are required to be made into an escrow account for the benefit of the IPC Plan. The escrow account is intended to be used for the ultimate buy-out of the liabilities of the IPC Plan. Any amounts remaining in the escrow account after the buy-out will be returned to the Company.

The following benefit payments, which reflect expected future service as appropriate, are expected to be paid:


	Pension Benefits				Postretirement Benefits
	Domestic		International		Domestic
Years Ended December 31,	(in thousands)
2022	$	90,676	$	18,775	$	1,161
2023	7,119		18,503		1,058
2024	7,312		20,369		988
2025	8,362		21,021		920
2026	7,117		21,909		827
Thereafter	34,356		125,118		3,258
Net amount recognized, end of year	$	154,942	$	225,695	$	8,212

Defined Contribution Plans

IAC/InterActiveCorp Retirement Savings Plan

IAC employees in the United States can elect to participate in a retirement savings program, the IAC/InterActiveCorp Retirement Savings Plan (the "Plan"), that qualifies under Section 401(k) of the Internal Revenue Code. Under the Plan, participating employees may contribute up to 50% of their pre-tax earnings, but not more than statutory limits. Prior to July 2019, the Company contributed an amount equal to 50% of the first 6% of compensation that a participant contributes in each payroll period to the Plan. In June 2019, the Company approved a change to its matching contribution to 100% of the first 10% of an employee's eligible compensation, subject to IRS limits on the Company's matching contribution maximum, that a participant contributes to the Plan. This change was phased in beginning July 1, 2019 and was implemented by some but not all of IAC's subsidiaries participating in the Plan by January 1, 2020. Effective January 1, 2020, the Plan limits Company matching contributions to $10,000 per participant on an annual basis. Matching contributions to the Plan for the years ended December 31, 2021, 2020 and 2019 were $22.0 million, $16.9 million and $13.1 million, respectively. Matching contributions are invested in the same manner as each participant's voluntary contributions in the investment options provided under the Plan. An investment option in the Plan is IAC common stock, but neither participant nor matching contributions are required to be invested in IAC common stock. The increase in matching contributions in 2021 is primarily due to an increase in headcount and employee contributions. The increase in matching contribution in 2020 is due primarily to the aforementioned change in the Company's matching contribution.

IAC also has or participates in various benefit plans, principally defined contribution plans, for its international employees. IAC's contributions to these plans for the years ended December 31, 2021, 2020 and 2019 were $0.9 million, $0.7 million and $0.7 million, respectively.

Meredith Savings and Investment Plan

In connection with the acquisition of Meredith, the Company assumed its U.S. defined contribution saving plan (the "Meredith Savings and Investment Plan"). Eligible employees may participate in the Meredith Savings and Investment Plan, which allows eligible employees to contribute a percentage of their salary, commissions, and bonuses in accordance with plan limitations and provisions of Section 401(k) of the Internal Revenue Code and the Company makes matching contributions to the plan subject to the limits of the plan. The Company matches 100 percent of the first 4 percent and 50 percent of the next 1 percent of employee contributions for employees eligible for the Company’s pension benefits and 100 percent of the first 5 percent for employees ineligible for the Company’s pension benefits. Matching contributions to this defined contribution savings plan for the year ended December 31, 2021 were $0.8 million.

Effective January 1, 2023, the Company, as permitted by the relevant Plan documents, intends to merge the accounts of eligible participants in the Meredith Savings and Investment Plan into the Plan.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

FINANCIAL STATEMENT DETAILS

12 Months Ended

Dec. 31, 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 balance sheet to the total amounts shown in the statement of cash flows:


	December 31, 2021		December 31, 2020		December 31, 2019		December 31, 2018
	(In thousands)
Cash and cash equivalents	$	2,118,730	$	3,366,176	$	837,916	$	883,991
Restricted cash included in other current assets	1,941		448		503		1,417
Restricted cash included in other non-current assets	1,193		449		409		420
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	—		110,037		1,904		1,008
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$	2,121,864	$	3,477,110	$	840,732	$	886,836

Restricted cash included in other current assets at December 31, 2021 primarily consists of cash held in escrow related to the IPC Plan the Company assumed in connection with the acquisition of Meredith.

Restricted cash at December 31, 2020 primarily consists of funds collected from service providers for payments in dispute, which are not settled as of the period end, and cash reserved to fund insurance claims at Angi Inc.

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

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

Restricted cash included in other non-current assets at December 31, 2021 consisted of deposits related to leases and an endorsement guarantee related to insurance at Angi Roofing. Restricted cash included in "Other non-current assets" in the balance sheet for all other periods presented consists of deposits related to leases.

Credit Losses and Revenue Reserve

The following table presents the changes in the allowance for credit losses for the years ended December 31, 2021 and 2020, respectively:


	2021		2020
	(In thousands)
Balance at January 1	$	27,178	$	19,984
Current period provision for credit losses	89,893		78,931
Write-offs charged against the allowance	(82,875)		(74,170)

Recoveries collected	2,441		2,433
Balance at December 31	$	36,637	$	27,178

The revenue reserve was $3.1 million and $2.1 million at December 31, 2021 and 2020, respectively. The total allowance for credit losses and revenue reserve was $39.7 million and $29.2 million at December 31, 2021 and 2020, respectively.

Other current assets


	December 31,
	2021		2020
	(In thousands)

Prepaid expenses	$	73,483	$	46,096

Inventories, net (a)	30,710		317
Other	137,995		93,609
Other current assets	$	242,188	$	140,022

_____________________

(a) Includes raw materials of $17.0 million, work in process of $11.1 million, and finished goods of $2.4 million at December 31, 2021. Represents $0.3 million of finished goods at December 31, 2020.

Buildings, capitalized software, leasehold improvements, equipment and land


	December 31,
	2021		2020
	(In thousands)
Buildings and leasehold improvements	$	418,249	$	195,502
Capitalized software and computer equipment	386,421		149,693
Furniture and other equipment	181,605		83,501
Land	33,919		—
Projects in progress	47,218		53,635
Buildings, capitalized software, leasehold improvements, equipment and land	1,067,412		482,331
Accumulated depreciation and amortization	(496,887)		(207,401)
Buildings, capitalized software, leasehold improvements, equipment and land, net	$	570,525	$	274,930

Accrued expenses and other current liabilities


	December 31,
	2021		2020
	(In thousands)
Accrued employee compensation and benefits	$	277,594	$	107,280
Customer deposit liability	146,282		—
Accrued advertising expense	67,986		56,286
Accrued traffic acquisition costs	77,913		38,710
Other	410,799		138,130
Accrued expenses and other current liabilities	$	980,574	$	340,406

Other income (expense), net


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Unrealized increase (decrease) in the estimated fair value of a warrant	$	104,018	$	(1,213)	$	(9,123)
Unrealized gain related to an investment following its initial public offering	18,788		—		—
Upward adjustments to the carrying value of equity securities without readily determinable fair values	8,892		—		18,505
Realized gain on the sale of a marketable equity security	7,174		—		20,486
Realized gains related to the sale of investments	5,773		10,373		330
Realized gains related to the sale of business	4,209		1,061		—
Interest income	1,351		7,177		15,159
Net periodic pension benefit costs, other than the service cost component	(17,858)		—		—
Foreign exchange (losses) gains, net (a)	(13,636)		674		117
Loss on the extinguishment of debt (b)	(1,110)		—		—
Impairments related to COVID-19 (c)	—		(59,001)		—
Other	(5,747)		(1,632)		(4,987)
Other income (expense), net	$	111,854	$	(42,561)	$	40,487

_____________________

(a) 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.

(b) 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 $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 year ended December 31, 2020.

Supplemental Disclosure of Cash Flow Information:


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Cash paid (received) during the year for:
Interest	$	21,702	$	6,524	$	10,042
Income tax payments	$	9,880	$	5,974	$	4,797
Income tax refunds	$	(1,762)	$	(2,010)	$	(3,048)

SUBSEQUENT EVENT	12 Months Ended
SUBSEQUENT EVENT	Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENTOn February 16, 2022, the Company purchased an additional 4.5 million shares of MGM for $202.5 million. Following this purchase, the Company owns approximately 63.5 million shares, representing a 14.4% ownership interest in MGM as of February 16, 2022.

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2021

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

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

Schedule II

IAC/INTERACTIVECORP AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS


Description	Balance at Beginning of Period		Charges to Earnings			Charges to Other Accounts			Deductions			Balance at End of Period
	(In thousands)
2021
Allowance for credit losses	$	27,178	$	89,893	(a)	$	123		$	(80,557)	(c)	$	36,637
Revenue reserves	2,062		122,877		(b)	—			(121,857)		(d)	3,082
Deferred tax valuation allowance	111,691		(1,620)		(e)	2,569		(f)	—			112,640
Other reserves	8,054											13,220
2020
Allowance for credit losses	$	19,984	$	78,931	(a)	$	(152)		$	(71,585)	(c)	$	27,178
Revenue reserves	3,891		110,796		(b)	—			(112,625)		(d)	2,062
Deferred tax valuation allowance	91,180		11,443		(g)	9,068		(h)	—			111,691
Other reserves	5,057											8,054
2019
Allowance for credit losses	$	16,164	$	64,478	(a)	$	(45)		$	(60,613)	(c)	$	19,984
Revenue reserves	1,792		114,005		(b)	(2)			(111,904)		(d)	3,891
Deferred tax valuation allowance	86,778		6,006		(i)	(1,604)		(h)	—			91,180
Other reserves	3,919											5,057

_________________________________________________________

(a) Additions to the allowance for credit losses are charged to expense.

(b) Additions to the revenue reserves are charged against revenue.

(d) Amount is primarily related to write-off of revenue reserve at Angi Inc. primarily related to credits granted to customers.

(e) Amount is primarily related to a decrease in both foreign net operating losses ("NOLs") and unbenefited capital losses offset by an increase in federal NOLs.

(f) Amount is primarily related to acquired foreign and state NOLs offset by currency translation adjustments on foreign NOLs.

(g) Amount is primarily related to impairments of certain equity securities without readily determinable fair values.

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

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

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Basis of Presentation and Combination

Accounting Estimates

Accounting for Investments in Equity Securities

Accounting for Investments in Equity Securities The Company's equity securities, other than those of its consolidated subsidiaries and those accounted for under the equity method, are accounted for at fair value or under the measurement alternative of Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") No. 2016-01, Recognition and Measurement of Financial Assets and Liabilities, with any changes to fair value recognized in "Other income (expense), net" in the statement of operations 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. The Company reviews its investments in equity securities without readily determinable fair values for impairment each reporting period when there are qualitative factors or events that indicate possible impairment. Factors the Company considers in making this determination include negative changes in industry and market conditions, financial performance, business prospects, and other relevant events and factors. When indicators of impairment exist, the Company prepares quantitative assessments of the fair value of its investments in equity securities, which require judgment and the use of estimates. When the Company's assessment indicates that the fair value of the investment is below its carrying value, the Company writes down the investment to its fair value and records the corresponding charge in "Other income (expense), net" in the statement of operations.

Revenue Recognition

The Company's disaggregated revenue disclosures are presented in "Note 13—Segment Information."

Transaction Price

Arrangements with Multiple Performance Obligations

Practical Expedients and Exemptions

Costs to Obtain a Contract with a Customer

Commissions Paid to Third-Party Agent Sales of Magazine Subscriptions

Commissions Paid to Employees Pursuant to Sales Incentive Programs

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 commissions as incurred.

App Store Fees

The following table presents the capitalized costs to obtain a contract with a customer for the years ended December 31, 2021 and 2020:


	Years Ended December 31,
	2021				2020
	Sales Commissions		App Store Fees		Total		Sales Commissions		App Store Fees		Total
	(In thousands)
Current	$	39,669	$	9,023	$	48,692	$	50,319	$	8,469	$	58,788
Non-current	6,086		—		6,086		4,397		—		4,397
Total	$	45,755	$	9,023	$	54,778	$	54,716	$	8,469	$	63,185

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," respectively, in the balance sheet.

Dotdash Meredith

Digital

Display Advertising

Performance Marketing

Licensing Revenue

Subscription Revenue

Newsstand Revenue

Print Advertising

Performance Marketing

Other Revenue

Angi Inc.

Emerging & Other

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

Accounts Receivables, Net of the Allowance for Credit Losses and Revenue Reserves

Deferred Revenue

Cash and Cash Equivalents

Investments in Debt Securities

Investments in Debt SecuritiesAt times the Company invests in marketable debt securities with active secondary or resale markets to ensure portfolio liquidity to fund current operations or satisfy other cash requirements as needed. Marketable debt securities are adjusted to fair value each quarter, and the unrealized gains and losses, net of tax, are included in accumulated other comprehensive income (loss) as a separate component of shareholders' equity. The specific-identification method is used to determine the cost of debt securities sold and the amount of unrealized gains and losses reclassified out of accumulated other comprehensive income (loss) into earnings. The Company also invests in non-marketable debt securities as part of its investment strategy. We review our debt securities for impairment each reporting period. The Company recognizes an unrealized loss on debt securities in net earnings when the impairment is determined to be other-than-temporary. Factors we consider in making such determination include the duration, severity and reason for the decline in value and the potential recovery and our intent to sell the debt security. We also consider whether we will be required to sell the security before recovery of its amortized cost basis and whether the amortized cost basis cannot be recovered because of credit losses. If an impairment is considered to be other-than-temporary, the debt security will be written down to its fair value and the loss will be recognized within "Other income (expense), net" in the statement of operations. There were no marketable debt securities at December 31, 2021. At December 31, 2020 marketable debt securities consisted of treasury discount notes.

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.

Credit Risk

Other Risks

The Company is subject to certain risks and concentrations including dependence on third-party technology providers, exposure to risks associated with online commerce security and credit card fraud.

Inventories

Buildings, Capitalized Software, Leasehold Improvements, Equipment and Land


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

Business Combinations and Contingent Consideration Arrangements

Goodwill and Indefinite-Lived Intangible Assets

•Angi Inc.'s October 1, 2021 market capitalization of $6.2 billion exceeded its carrying value by approximately $5.0 billion.

The aggregate carrying value of goodwill for which the most recent estimate of the excess of fair value over carrying value is less than 20% is approximately $243.0 million.

The October 1, 2021 annual assessments of goodwill and indefinite-lived intangible assets did not identify any impairments.

The October 1, 2020 annual assessments of goodwill and indefinite-lived intangible assets did not identify any additional impairments.

Impairment charges recorded on indefinite-lived intangibles are included in "Amortization of intangibles" in the statement of operations.

Long-Lived Assets and Intangible Assets with Definite Lives

Fair Value Measurements

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

Advertising Costs

Legal Costs

Legal costs are expensed as incurred.

Income Taxes

Pensions and Postretirement Benefits Other Than Pensions

Pensions and Postretirement Benefits

Earnings Per Share

Earnings Per ShareUndistributed earnings allocated to the participating security is subtracted from earnings in determining earnings attributable to holders of IAC common stock and Class B common stock for basic net earnings (loss) per share ("EPS"). Basic EPS is computed by dividing net earnings (loss) 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. Diluted earnings per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vested resulting in the issuance of common stock that could share in the earnings of the Company. For periods prior to the MTCH Separation, the Company calculated basic and diluted earnings per share using the shares issued on June 30, 2020, the date of the MTCH Separation.

Foreign Currency Translation and Transaction Gains and Losses

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

Stock-Based Compensation

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

Redeemable Noncontrolling Interests

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

Recent Accounting Pronouncements

Recent Accounting Pronouncements Adopted by the Company

ASU 2021-08 – Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers

Recent Accounting Pronouncements Not Yet Adopted by the Company

Reclassifications

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

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of Capitalized Costs to Obtain a Contract with a Customer

The following table presents the capitalized costs to obtain a contract with a customer for the years ended December 31, 2021 and 2020:


	Years Ended December 31,
	2021				2020
	Sales Commissions		App Store Fees		Total		Sales Commissions		App Store Fees		Total
	(In thousands)
Current	$	39,669	$	9,023	$	48,692	$	50,319	$	8,469	$	58,788
Non-current	6,086		—		6,086		4,397		—		4,397
Total	$	45,755	$	9,023	$	54,778	$	54,716	$	8,469	$	63,185

Schedule of Estimated Useful Lives of Property and Equipment


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


	December 31,
	2021		2020
	(In thousands)
Buildings and leasehold improvements	$	418,249	$	195,502
Capitalized software and computer equipment	386,421		149,693
Furniture and other equipment	181,605		83,501
Land	33,919		—
Projects in progress	47,218		53,635
Buildings, capitalized software, leasehold improvements, equipment and land	1,067,412		482,331
Accumulated depreciation and amortization	(496,887)		(207,401)
Buildings, capitalized software, leasehold improvements, equipment and land, net	$	570,525	$	274,930

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income before Income Taxes

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


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
U.S.	$	758,538	$	234,345	$	(11,249)
Foreign	(28,732)		9,815		45,566
Total	$	729,806	$	244,160	$	34,317

Schedule of Components of Income Tax Expense (Benefit)

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


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Current income tax provision (benefit):
Federal	$	(5,818)	$	(29,181)	$	(1,117)
State	4,750		2,326		157
Foreign	6,681		(496)		2,985
Current income tax provision (benefit)	5,613		(27,351)		2,025

Deferred income tax provision (benefit):
Federal	111,755		(8,097)		(39,454)
State	18,063		(6,126)		(9,746)
Foreign	3,559		(4,133)		(174)
Deferred income tax provision (benefit)	133,377		(18,356)		(49,374)
Income tax provision (benefit)	$	138,990	$	(45,707)	$	(47,349)

Schedule of Deferred Tax Assets and Liabilities


	December 31,
	2021		2020
	(In thousands)
Deferred tax assets:
Net operating loss carryforwards	$	557,329	$	392,871
Long-term lease liabilities	157,504		58,457
Customer deposit liability	56,194		—
Tax credit carryforwards	48,081		41,970
Accrued expenses	47,754		17,247
Stock-based compensation	25,477		41,850
Other	53,263		32,043
Total deferred tax assets	945,602		584,438
Less: valuation allowance	(112,640)		(111,691)
Net deferred tax assets	832,962		472,747

Deferred tax liabilities:
Investment in MGM Resorts International	(389,837)		(197,998)
Intangible assets, net of accumulated amortization	(271,629)		(34,170)
Investment in subsidiaries	(227,632)		(242,537)
Right-of-use assets	(122,095)		(43,074)

Buildings, capitalized software, leasehold improvements, equipment and land, net	(70,959)		(16,645)
Other	(134,010)		(14,926)
Total deferred tax liabilities	(1,216,162)		(549,350)
Net deferred tax liabilities	$	(383,200)	$	(76,603)

Schedule of Effective Income Tax Rate Reconciliation

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


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Income tax provision at the federal statutory rate of 21%	$	153,259	$	51,274	$	7,207
State income taxes, net of effect of federal tax benefit	24,289		16,995		468
Stock-based compensation	(83,396)		(163,633)		(56,708)
Change in judgement on beginning of the year valuation allowance	20,248		(3,544)		—
Non-deductible executive compensation	14,025		14,219		7,409
Research credit	(5,094)		(6,078)		(4,449)
Non-deductible expenses	4,328		5,947		5,353
Deferred tax adjustment for enacted changes in tax laws and rates	4,049		(14,508)		(688)
Change in valuation allowance on capital losses	754		11,385		(7,365)

Non-deductible goodwill impairment	—		53,012		—
Amortizable tax basis related to intercompany transaction	—		(7,044)		—
Other, net	6,528		(3,732)		1,424
Income tax provision (benefit)	$	138,990	$	(45,707)	$	(47,349)

Schedule of Income Tax Contingencies

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


	December 31,
	2021		2020		2019
	(In thousands)
Balance at January 1	$	18,233	$	16,585	$	14,425
Additions for tax positions related to the current year	2,855		3,419		2,332
Settlements	(1,427)		(3,733)		—
Additions for tax positions of prior years	3,420		2,313		238
Reductions for tax positions of prior years	(1,116)		—		—
Expiration of applicable statutes of limitations	(4,516)		(351)		(410)
Balance at December 31	$	17,449	$	18,233	$	16,585

DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The components of assets and liabilities of discontinued operations in the 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


	January 1 through May 25,		Years Ended December 31,
	2021		2020		2019

Revenue	$	145,514	$	283,146	$	195,821
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	39,995		88,589		68,873
Selling and marketing expense	54,774		104,216		84,298
General and administrative expense	23,343		47,019		44,177
Product development expense	35,651		62,803		44,524
Depreciation	182		460		478
Amortization of intangibles	2,983		14,745		9,653
Total operating costs and expenses	156,928		317,832		252,003
Operating loss from discontinued operations	(11,414)		(34,686)		(56,182)
Interest expense	(140)		—		—
Other income (expense), net	10,172		93		(6,441)
Loss from discontinued operations before tax	(1,382)		(34,593)		(62,623)
Income tax (provision) benefit	(449)		13,312		13,140
Loss from discontinued operations, net of tax	$	(1,831)	$	(21,281)	$	(49,483)

- 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 COMBINATIONS (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Purchase Price

The total preliminary purchase price was calculated and allocated as follows:


	Meredith
	(In thousands)
Common stock of Meredith	$	1,931,376
Cash payment used to settle a portion of Meredith debt	625,000
Cash settlement of all outstanding vested equity awards and deferred compensation	130,089
Total preliminary purchase price	$	2,686,465

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

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


	Meredith
	(In thousands)
Cash and cash equivalents	$	12,436
Accounts receivable	373,555
Other current assets	91,364
Property and equipment	283,319
Goodwill	1,567,843
Intangible assets	1,095,500
Other non-current assets	682,272
Total assets	4,106,289
Customer deposit liability	(141,888)
Other current liabilities	(459,712)
Deferred income taxes	(230,880)
Other non-current liabilities	(587,344)
Net assets acquired	$	2,686,465

Schedule of Fair Value of Intangible Assets Acquired

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


	Meredith
	(In thousands)		Useful Life (Years)
Indefinite-lived trade names and trademarks	$	432,800	Indefinite-lived
Advertiser relationships	334,000		5-7
Licensee relationships	150,000		3-6
Trade name and trademarks	105,000		2-5
Subscriber relationships	73,700		1-2
Total identifiable intangible assets acquired	$	1,095,500

Schedule of Pro Forma Financial Information


	Years Ended December 31,
	2021		2020
	(In thousands, except per share data)
Revenue	$	5,599,334	$	4,840,324
Net earnings (loss) from continuing operations	$	666,882	$	(27,702)
Basic earnings (loss) per share from continuing operations	$	7.57	$	(0.32)
Diluted earnings (loss) per share from continuing operations	$	7.15	$	(0.32)
Net earnings (loss) attributable to IAC shareholders	$	673,613	$	(43,177)
Basic earnings (loss) per share attributable to IAC shareholders	$	7.55	$	(0.51)
Diluted earnings (loss) per share attributable to IAC shareholders	$	7.13	$	(0.51)

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill and Intangible Assets, Net

Goodwill and intangible assets, net are as follows:


	December 31,
	2021		2020
	(In thousands)
Goodwill	$	3,226,610	$	1,660,102
Intangible assets with definite lives, net of accumulated amortization	735,743		148,073
Intangible assets with indefinite lives	679,149		246,913
Total goodwill and intangible assets, net	$	4,641,502	$	2,055,088

Schedule of Goodwill by Reporting Unit

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the year ended December 31, 2021:


	Balance at December 31, 2020		Additions		(Deductions)		Foreign Exchange Translation		Balance at December 31, 2021
	(In thousands)
Dotdash Meredith	$	—	$	1,567,843	$	—	$	—	$	1,567,843
Angi Inc.	892,133		26,822		—		(2,580)		916,375
Emerging & Other	767,969		—		(25,376)		(201)		742,392
Total	$	1,660,102	$	1,594,665	$	(25,376)	$	(2,781)	$	3,226,610

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the year ended December 31, 2020:


	Balance at December 31, 2019		Additions		Impairment		Foreign Exchange Translation		Balance at December 31, 2020
	(In thousands)
Angi Inc.	$	884,296	$	2,665	$	—	$	5,172	$	892,133
Search	265,146		—		(265,146)		—		—
Emerging & Other	248,051		519,405		—		513		767,969
Total	$	1,397,493	$	522,070	$	(265,146)	$	5,685	$	1,660,102

Schedule of Intangible Assets with Definite Lives

At December 31, 2021 and 2020, intangible assets with definite lives are as follows:


	December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life
	(In thousands)						(Years)
Advertiser relationships	$	334,000	$	(6,386)	$	327,614	5.2
Licensee relationships	150,000		(2,923)		147,077		4.9
Trade names	145,598		(18,224)		127,374		5.1
Technology	133,318		(106,415)		26,903		4.2
Service professional relationships	98,789		(97,877)		912		3.0
Subscriber relationships	73,700		(3,961)		69,739		2.0
Customer lists and user base	68,730		(32,606)		36,124		6.4
Other	10,439		(10,439)		—		3.4
Total	$	1,014,574	$	(278,831)	$	735,743	4.6


	December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life
	(In thousands)						(Years)
Technology	$	142,247	$	(82,813)	$	59,434	4.2
Service professional relationships	97,960		(97,312)		648		3.0
Customer lists and user base	75,687		(22,027)		53,660		4.0
Trade names	50,633		(16,760)		33,873		6.9
Memberships	15,900		(15,900)		—		3.0
Other	10,439		(9,981)		458		3.4
Total	$	392,866	$	(244,793)	$	148,073	4.1

Schedule of Expected Amortization of Intangible Assets

At December 31, 2021, amortization of intangible assets with definite lives for each of the next five years and thereafter is estimated to be as follows:


Years Ending December 31,	(In thousands)
2022	$	216,674
2023	176,238
2024	129,740
2025	98,865
2026	81,736
Thereafter	32,490
Total	$	735,743

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Marketable Securities

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


	December 31,
	2021		2020
	(In thousands)
Marketable equity security	$	19,788	$	—
Available for sale marketable debt securities	—		224,979
Total marketable securities	$	19,788	$	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 Investment in MGM Resorts International

Investment in MGM Resorts International


	December 31,
	2021		2020
	(In thousands)
Investment in MGM Resorts International ("MGM")	$	2,649,442	$	1,860,158

Schedule of Long-term Investments

Long-term investments consist of:


	December 31,
	2021		2020
	(In thousands)
Equity securities without readily determinable fair values	$	324,649	$	296,491
Equity method investment	3,189		1,152
Total long-term investments	$	327,838	$	297,643

Schedule of Realized and Unrealized Gains and Losses


	Years Ended December 31,
	2021		2020
	(In thousands)
Upward adjustments (gross unrealized gains)	$	8,992	$	—
Downward adjustments including impairments (gross unrealized losses)	(100)		(51,484)
Total	$	8,892	$	(51,484)

Realized and unrealized gains and losses for the Company's investments without readily determinable fair values for the years ended December 31, 2021, 2020 and 2019 are as follows:


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Realized gains, net, for equity securities sold	$	5,773	$	1,873	$	20,883
Unrealized gains, net, on equity securities held	8,892		797,565		18,505
Total gains recognized, net	$	14,665	$	799,438	$	39,388

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:


	December 31, 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	$	1,660,921	$	—	$	—	$	1,660,921
Time deposits	—		6,057		—		6,057
Marketable equity security	19,788		—		—		19,788
Investment in MGM	2,649,442		—		—		2,649,442
Other non-current assets:
Warrant	—		—		109,294		109,294
Total	$	4,330,151	$	6,057	$	109,294	$	4,445,502

Liabilities:
Contingent consideration arrangements					$	(612)	$	(612)


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


	Years Ended December 31,
	2021				2020
	Warrant		Contingent Consideration Arrangements		Warrant		Contingent Consideration Arrangement
	(In thousands)
Balance at January 1	$	5,276	$	—	$	8,495	$	(6,918)
Fair value at date of acquisition	—		(620)		—		(1,000)
Total net gains (losses):
Fair value adjustments included in earnings	104,018		(14,992)		(3,219)		6,918
Settlements	—		15,000		—		1,000
Balance at December 31	$	109,294	$	(612)	$	5,276	$	—

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

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


	December 31, 2021				December 31, 2020
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
Current portion of long-term debt	$	(30,000)	$	(29,550)	$	—	$	—
Long-term debt, net(a)	$	(2,046,237)	$	(2,061,450)	$	(712,277)	$	(725,700)

_________________

(a) At December 31, 2021 and 2020, the carrying value of long-term debt, net includes unamortized original issue discount and debt issuance costs of $23.8 million and $7.7 million, respectively.

LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consists of:


	December 31,
	2021		2020
	(In thousands)
Dotdash Meredith Debt
Dotdash Meredith Term Loan A ("Dotdash Meredith Term Loan A") due December 1, 2026	$	350,000	$	—
Dotdash Meredith Term Loan B ("Dotdash Meredith Term Loan B") due December 1, 2028	1,250,000		—
Total Dotdash Meredith long-term debt	1,600,000		—
Less: current portion of Dotdash Meredith long-term debt	30,000		—
Less: original issue discount	6,176		—
Less: unamortized debt issuance costs	12,139		—
Total Dotdash Meredith long-term debt, net	1,551,685		—

ANGI Group Debt
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	5,448		7,723
Total ANGI Group long-term debt, net	494,552		712,277

Total long-term debt, net	$	2,046,237	$	712,277

Schedule of Debt Instrument Redemption


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

Schedule of Aggregate Contractual Maturities of Long-term Debt

Long-term debt maturities at December 31, 2021 are summarized in the table below:


Years Ending December 31,	(In thousands)
2022	$	30,000
2023	30,000
2024	30,000
2025	47,500
2026	275,000
Thereafter	1,687,500
Total	2,100,000
Less: current portion of long-term debt	30,000
Less: unamortized original issue discount	6,176
Less: unamortized debt issuance costs	17,587
Total long-term debt, net	$	2,046,237

- 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)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

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


	Year Ended December 31, 2021
	Foreign Currency Translation Adjustment		Unrealized Gains On Available-For-Sale Marketable Debt Securities		Accumulated Other Comprehensive (Loss) Income
	(In thousands)
Balance at January 1	$	(6,172)	$	2	$	(6,170)
Other comprehensive income (loss) before reclassifications	527		(2)		525
Amounts reclassified to earnings	10,032		—		10,032
Net current period other comprehensive income (loss)	10,559		(2)		10,557
Accumulated other comprehensive loss allocated to noncontrolling interests during the period	10		—		10
Balance at December 31	$	4,397	$	—	$	4,397


	Year Ended December 31, 2020
	Foreign Currency Translation Adjustment		Unrealized Gains On Available-For-Sale Marketable Debt Securities		Accumulated Other Comprehensive (Loss) Income
	(In thousands)
Balance at January 1	$	(12,226)	$	—	$	(12,226)
Other comprehensive income before reclassifications	6,236		2		6,238
Amounts reclassified to earnings	(144)		—		(144)
Net current period other comprehensive income	6,092		2		6,094
Accumulated other comprehensive income allocated to noncontrolling interests during the period	(38)		—		(38)
Balance at December 31	$	(6,172)	$	2	$	(6,170)


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

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings 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:


	Years Ended December 31,
	2021		2020		2019
	(In thousands, except per share data)
Basic EPS:
Numerator:
Net earnings from continuing operations	$	590,816	$	289,867	$	81,666
Net loss (earnings) attributable to noncontrolling interests of continuing operations	8,748		726		(9,945)
Net earnings attributed to unvested participating security	(20,160)		—		—
Net earnings from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	579,404	$	290,593	$	71,721

Net loss from discontinued operations, net of tax	$	(1,831)	$	(21,281)	$	(49,483)
Net (earnings) loss attributable to noncontrolling interests of discontinued operations	(186)		414		657
Net loss attributed to unvested participating security	68		—		—
Net loss from discontinued operations attributable to IAC Common Stock and Class B common stock shareholders	$	(1,949)	$	(20,867)	$	(48,826)

Net earnings attributable to IAC Common Stock and Class B common stock shareholders	$	577,455	$	269,726	$	22,895

Denominator:
Weighted average basic IAC Common Stock and Class B common stock shares outstanding (a)	86,222		85,355		85,132

Earnings (loss) per share:
Earnings per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	6.72	$	3.40	$	0.84
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders	$	(0.02)	$	(0.24)	$	(0.57)
Earnings per share attributable to IAC shareholders and Class B common stock shareholders	$	6.70	$	3.16	$	0.27


	Years Ended December 31,
	2021		2020		2019
	(In thousands, except per share data)
Diluted EPS
Numerator:
Net earnings from continuing operations	$	590,816	$	289,867	$	81,666
Net loss (earnings) attributable to noncontrolling interests of continuing operations	8,748		726		(9,945)
Net earnings attributed to unvested participating security	(18,981)		—		—
Impact from public subsidiary's dilutive securities (c)	406		71		—
Net earnings from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	580,989	$	290,664	$	71,721

Loss from discontinued operations, net of tax	$	(1,831)	$	(21,281)	$	(49,483)
Net (earnings) loss attributable to noncontrolling interests of discontinued operations	(186)		414		657
Net loss attributed to unvested participating security	64		—		—
Net loss from discontinued operations attributable to IAC Common Stock and Class B common stock shareholders	$	(1,953)	$	(20,867)	$	(48,826)

Net earnings attributable to IAC Common Stock and Class B common stock shareholders	$	579,036	$	269,797	$	22,895


Denominator:
Weighted average basic IAC Common Stock and Class B common stock shares outstanding (a)	86,222		85,355		85,132
Dilutive securities (b)(c)(d)(e)	5,606		5,593		—
Denominator for earnings per share—weighted average shares (b)(c)(d(e)	91,828		90,948		85,132

Earnings (loss) per share:
Earnings per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	6.33	$	3.20	$	0.84
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders	$	(0.02)	$	(0.23)	$	(0.57)
Earnings per share attributable to IAC Common Stock and Class B common stock shareholders	$	6.31	$	2.97	$	0.27

__________________________________________________________________

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

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Unvested RSUs Activity

Unvested RSUs outstanding at December 31, 2021 and changes during the period ended December 31, 2021 are as follows:


	RSUs
	Number of Shares	Weighted Average Grant Date Fair Value
	(Shares in thousands)
Unvested at January 1	1,503	$	107.62
Granted	35	208.18
Vested	(176)	34.71
Forfeited	(5)	144.39
Unvested at May 24, 2021 prior to the Spin-off adjustment	1,357	120.01
Unvested at May 25, 2021 after the Spin-off adjustment	2,039	79.85
Granted	30	127.77
Vested	(136)	69.80
Forfeited	(387)	86.47
Unvested at December 31	1,546	$	80.38

Schedule of Stock Options Outstanding

Stock options outstanding at December 31, 2021 and changes during the period ended December 31, 2021 are as follows:


	December 31, 2021
	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term in Years	Aggregate Intrinsic Value
	(Shares and intrinsic value in thousands)
Options Outstanding at January 1	3,909	$	21.08
Granted	—	—
Exercised	(89)	19.09
Forfeited	—	—
Expired	—	—
Options outstanding at May 24, 2021 prior to the Spin-off adjustment	3,820	21.12
Options outstanding at May 25, 2021 after the Spin-off adjustment	3,820	14.05
Granted	—	—
Exercised	(924)	14.27
Forfeited	—	—
Expired	—	—
Options Outstanding at December 31	2,896	$	13.98	3.9	$	338,005
Options exercisable	2,896	$	13.98	3.9	$	338,005

Schedule of Information for Stock Options Outstanding and Exercisable

The following table summarizes the information about stock options outstanding and exercisable at December 31, 2021:


	Options Outstanding				Options Exercisable
Range of Exercise Prices	Outstanding at December 31, 2021	Weighted- Average Remaining Contractual Life in Years	Weighted- Average Exercise Price		Exercisable at December 31, 2021	Weighted- Average Remaining Contractual Life in Years	Weighted- Average Exercise Price
	(Shares in thousands)
Less than $10.00	567	4.1	$	8.57	567	4.1	$	8.57
$10.01 to $15.00	712	3.3	13.60		712	3.3	13.60
$15.01 to $20.00	1,613	4.1	16.04		1,613	4.1	16.04
Greater than $20.01	4	5.6	21.17		4	5.6	21.17





	2,896	3.9	$	13.98	2,896	3.9	$	13.98

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following table presents revenue by reportable segment:


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Revenue:
Dotdash Meredith
Digital	$	367,134	$	213,753	$	167,594
Print	92,002		—		—
Intra-segment eliminations(a)	(2,863)		—		—
Total Dotdash Meredith	456,273		213,753		167,594
Angi Inc.	1,685,438		1,467,925		1,326,205
Search	873,346		613,274		742,184
Emerging & Other	685,175		469,759		274,107
Inter-segment eliminations	(605)		(175)		(110)
Total	$	3,699,627	$	2,764,536	$	2,509,980

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


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Dotdash Meredith
Digital:
Display advertising revenue	$	236,660	$	137,455	$	126,350
Performance marketing revenue	116,195		76,298		41,244
Licensing and other revenue	14,279		—		—
Total digital revenue	367,134		213,753		167,594
Print:
Subscription revenue	34,634		—		—
Newsstand revenue	19,183		—		—
Project and other revenue	16,414		—		—
Advertising revenue	13,678		—		—
Performance marketing revenue	8,093		—		—
Total print revenue	92,002		—		—
Intra-segment eliminations(a)	(2,863)		—		—
Total Dotdash Meredith revenue	$	456,273	$	213,753	$	167,594


	Years Ended December 31,
	2021		2020		2019
	(In thousands)

(a) Includes $2.8 million of intra-segment eliminations related to digital performance marketing revenue.

Angi Inc.
North America
Angi Ads and Leads:
Consumer connection revenue(b)	$	896,711	$	899,175	$	867,307
Advertising revenue(c)	252,010		226,505		214,259
Membership subscription revenue(d)	68,062		74,073		92,975
Other revenue	27,812		33,136		23,844
Total Angi Ads and Leads revenue	1,244,595		1,232,889		1,198,385
Angi Services revenue(e)	357,976		162,539		51,507
Total North America revenue	1,602,571		1,395,428		1,249,892
Europe
Consumer connection revenue(f)	68,686		57,692		59,611
Service professional membership subscription revenue	12,939		13,091		14,231
Advertising and other revenue	1,242		1,714		2,471
Total Europe revenue	82,867		72,497		76,313
Total Angi Inc. revenue	$	1,685,438	$	1,467,925	$	1,326,205

(b) Includes fees paid by service professionals for consumer matches through Angi Ads and Leads platforms.
(c) Includes revenue from service professionals under contract for advertising.
(d) Includes membership subscription revenue from service professionals and consumers.
(e) Includes revenue from pre-priced offerings and revenue from Angi Roofing.
(f) Includes fees paid by service professionals for consumer matches.

Search
Advertising revenue:
Google advertising revenue	$	675,892	$	506,077	$	678,438
Non-Google advertising revenue	183,427		90,286		47,583
Total advertising revenue	859,319		596,363		726,021
Other revenue	14,027		16,911		16,163
Total Search revenue	$	873,346	$	613,274	$	742,184

Emerging & Other
Subscription revenue	$	367,159	$	303,482	$	194,362
Marketplace revenue	243,816		138,726		38,950
Media production and distribution revenue	44,517		3,585		8,897
Advertising revenue:
Non-Google advertising revenue	19,047		16,236		23,372
Google advertising revenue	2,981		3,130		4,486
Total advertising revenue	22,028		19,366		27,858
Service and other revenue	7,655		4,600		4,040
Total Emerging & Other revenue	$	685,175	$	469,759	$	274,107

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:


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Revenue:
United States	$	3,184,653	$	2,309,504	$	1,997,662
All other countries	514,974		455,032		512,318
Total	$	3,699,627	$	2,764,536	$	2,509,980


	December 31,
	2021		2020
	(In thousands)
Long-lived assets (excluding goodwill, intangible assets and ROU assets):
United States	$	562,628	$	263,620
All other countries	7,897		11,310
Total	$	570,525	$	274,930

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

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


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Operating income (loss):
Dotdash Meredith
Digital	$	73,980	$	50,241	$	29,021
Print	(6,527)		—		—
Other	(60,277)		—		—
Total Dotdash Meredith	7,176		50,241		29,021
Angi Inc.	(76,513)		(6,368)		38,645
Search	108,334		(248,711)		122,347
Emerging & Other	(22,738)		(70,896)		(21,790)
Corporate	(153,326)		(261,929)		(162,489)
Total	$	(137,067)	$	(537,663)	$	5,734


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Adjusted EBITDA:(g)
Dotdash Meredith
Digital	$	91,179	$	66,206	$	39,601
Print	$	2,639	$	—	$	—
Other	$	(60,196)	$	—	$	—
Angi Inc.	$	27,865	$	172,804	$	202,297
Search	$	108,381	$	51,344	$	124,163
Emerging & Other	$	33,383	$	(37,699)	$	(28,368)
Corporate	$	(95,985)	$	(147,433)	$	(88,465)

_______________________________________________________________________________

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


	Year Ended December 31, 2021
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Adjustments		Adjusted EBITDA
	(In thousands)
Dotdash Meredith
Digital	$	73,980	$	1,438	$	4,257	$	11,512	$	(8)	$	91,179
Print	(6,527)		$	—	$	1,827	$	7,339	$	—	$	2,639
Other	(60,277)		$	—	$	81	$	—	$	—	$	(60,196)
Angi Inc.	(76,513)		$	28,702	$	59,246	$	16,430	$	—	$	27,865
Search	108,334		$	—	$	47	$	—	$	—	$	108,381
Emerging & Other	(22,738)		$	101	$	1,462	$	39,558	$	15,000	$	33,383
Corporate (h)	(153,326)		$	49,246	$	8,095	$	—	$	—	$	(95,985)
Total	(137,067)
Interest expense	(34,264)
Unrealized gain on investment in MGM	789,283
Other income, net	111,854
Earnings from continuing operations before income taxes	729,806
Income tax provision	(138,990)
Net earnings from continuing operations	590,816
Loss from discontinued operations, net of tax	(1,831)
Net earnings	588,985
Net loss attributable to noncontrolling interests	8,562
Net earnings attributable to IAC shareholders	$	597,547


	Year Ended December 31, 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)
Dotdash Meredith	$	50,241	$	—	$	1,794	$	14,171	$	—	$	—	$	66,206
Angi Inc.	(6,368)		$	83,649	$	52,621	$	42,902	$	—	$	—	$	172,804
Search	(248,711)		$	—	$	2,709	$	32,200	$	—	$	265,146	$	51,344
Emerging & Other	(70,896)		$	100	$	2,449	$	37,566	$	(6,918)	$	—	$	(37,699)
Corporate (h)	(261,929)		$	105,246	$	9,250	$	—	$	—	$	—	$	(147,433)
Total	(537,663)
Interest expense	(16,166)
Unrealized gain on investment in MGM	840,550
Other expense, net	(42,561)
Earnings from continuing operations before income taxes	244,160
Income tax benefit	45,707
Net earnings from continuing operations	289,867
Loss from discontinued operations, net of tax	(21,281)
Net earnings	268,586
Net loss attributable to noncontrolling interests	1,140
Net earnings attributable to IAC shareholders	$	269,726


	Year Ended December 31, 2019
	Operating Income (Loss)		Stock-Based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Adjustments		Goodwill Impairment		Adjusted EBITDA
	(In thousands)
Dotdash Meredith	$	29,021	$	—	$	974	$	9,606	$	—	$	—	$	39,601
Angi Inc.	38,645		$	68,255	$	39,915	$	55,482	$	—	$	—	$	202,297
Search	122,347		$	—	$	1,816	$	—	$	—	$	—	$	124,163
Emerging & Other	(21,790)		$	—	$	715	$	9,127	$	(19,738)	$	3,318	$	(28,368)
Corporate (h)	(162,489)		$	61,973	$	12,051	$	—	$	—	$	—	$	(88,465)
Total	5,734
Interest expense	(11,904)
Other income, net	40,487
Earnings from continuing operations before income taxes	34,317
Income tax benefit	47,349
Net earnings from continuing operations	81,666
Loss from discontinued operations, net of tax	(49,483)
Net earnings	32,183
Net earnings attributable to noncontrolling interests	(9,288)
Net earnings attributable to IAC shareholders	$	22,895

_______________________________________________________________________________

(h) Includes stock-based compensation expense for awards denominated in the shares of certain subsidiaries of the Company.

Schedule of Capital Expenditures by Segment

The following table presents capital expenditures by reportable segment:


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Capital expenditures:




Dotdash Meredith	$	4,823	$	5,445	$	—
Angi Inc.	70,215		52,488		68,804
Search	178		47		43
Emerging & Other	894		1,363		387
Corporate	14,100		1,383		25,863
Total	$	90,210	$	60,726	$	95,097

LEASES (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Schedule of Supplemental Balance Sheet Information of Leases


		December 31,
Leases	Balance Sheet Classification	2021		2020
		(In thousands)
Assets:
Right-of-use assets(a)	Other non-current assets	$	498,337	$	170,153

Liabilities:
Current lease liabilities	Accrued expenses and other current liabilities	$	63,521	$	27,143
Long-term lease liabilities	Other long-term liabilities	578,272		205,362
Total lease liabilities(a)		$	641,793	$	232,505

_____________________

(a) The acquisition of Meredith resulted in increases of ROU assets and lease liabilities of $358.6 million and $434.8 million, respectively.

Schedule of Lease Cost and Other Information


		Years Ended December 31,
Lease Expense	Income Statement Classification	2021		2020		2019
		(In thousands)
Fixed lease expense	Cost of revenue	$	1,707	$	2,183	$	547
Fixed lease expense	Selling and marketing expense	9,443		12,591		10,749
Fixed lease expense	General and administrative expense	31,104		20,923		13,786
Fixed lease expense	Product development expense	1,756		3,016		1,502
Total fixed lease expense(b)		44,010		38,713		26,584
Variable lease expense	Cost of revenue	—		—		83
Variable lease expense	Selling and marketing expense	1,087		2,314		1,573
Variable lease expense	General and administrative expense	8,176		7,314		5,657
Variable lease expense	Product development expense	639		934		391
Total variable lease expense		9,902		10,562		7,704
Net lease expense		$	53,912	$	49,275	$	34,288

_____________________


	December 31,
	2021		2020
	(In thousands)
Other Information:
Right-of-use assets obtained in exchange for lease liabilities (d)	$	442,205	$	80,314
Cash paid for amounts included in the measurement of lease liabilities	$	44,659	$	41,377

_____________________

(d) Includes $437.7 million related to Meredith as of the date of its acquisition..

Schedule of Maturities of Operating Lease Liabilities

Maturities of lease liabilities at December 31, 2021(c):


Years Ended December 31,	In thousands
2022	$	95,944
2023	95,764
2024	94,183
2025	85,773
2026	81,372
Thereafter	472,535
Total	925,571
Less: Interest	283,778
Present value of lease liabilities	$	641,793

_____________________

(c) Lease payments exclude $1.2 million of legally binding minimum lease payments for leases signed but not yet commenced.

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

The following are the weighted average assumptions used for lease term and discount rate at December 31, 2021 and 2020:


	December 31,
	2021		2020
Remaining lease term	11.8 years		15.5 years
Discount rate	5.54	%	5.67	%

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Commercial Commitments Outstanding

Future payments under noncancelable unconditional purchase obligations at December 31, 2021 are as follows:


	Amount of Commitment Expiration Per Period
	Less Than 1 Year		1-3 Years		3-5 Years		More Than 5 Years		Total Amounts Committed
	(In thousands)
Purchase obligations	$	74,897	$	16,040	$	474	$	—	$	91,411

RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Related Party Transactions

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


	Six Months Ended June 30, 2020, the date of the MTCH Separation		Year Ended December 31, 2019

	(In thousands)
Cash transfers from Old IAC related to its centrally managed U.S. treasury management function, acquisitions and cash expenses paid by Old IAC on behalf of the Company, net	$	(1,742,854)	$	(182,382)
Contribution of buildings to Match Group	34,973		—
Taxes	34,436		(1,874)
Allocation of costs from Old IAC	(12,652)		(80,143)
Interest income, net	102		420
Net increase in Old IAC's investment in the Company prior to the MTCH Separation	$	(1,685,995)	$	(263,979)

PENSION AND POSTRETIREMENT BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Schedule of Changes in Projected Benefit Obligations and Change in Plan Assets

The following tables present changes in, and components of, the Company's net assets/liabilities for pension and other postretirement benefits:


	Year Ended December 31, 2021
	Pension				Postretirement
	Domestic		International		Domestic
	(in thousands)
Change in benefit obligation
Benefit obligation, beginning of year	$	—	$	—	$	—
Acquisitions(a)	154,920		850,774		10,923
Service cost	368		—		1
Interest cost	224		981		22


Net actuarial gain	(158)		(54,660)		(132)
Benefits paid (including lump sums)	(339)		(1,529)		(6)
Settlements	—		(9,361)		—
Contractual termination benefits	11,785		—		—
Foreign currency exchange rate impact	—		4,458		—
Benefit obligation, end of year	166,800		790,663		10,808
Change in plan assets
Fair value of plan assets, beginning of year	—		—		—
Acquisitions(a)	129,765		1,053,902		—
Actual return on plan assets	2,886		(62,744)		—
Employer contributions	14		29,229		6

Benefits paid (including lump sums)	(339)		(1,529)		(6)
Settlements	—		(9,361)		—
Foreign currency exchange rate impact	—		5,777		—
Fair value of plan assets, end of year	132,326		1,015,274		—
(Under) over funded status, end of year	$	(34,474)	$	224,611	$	(10,808)

_____________________

(a) All pension and postretirement plans were acquired with the acquisition of Meredith on December 1, 2021.

Schedule of Amounts Recognized in Balance Sheet

The following amounts are recognized in the December 31, 2021 balance sheet:


	Year Ended December 31, 2021
	Pension				Postretirement
	Domestic		International		Domestic
	(in thousands)
Other non-current assets
Prepaid benefit cost	$	24,318	$	231,791	$	—
Accrued expenses and other current liabilities
Accrued benefit liability	(52,523)		—		(1,146)
Other long-term liabilities
Accrued benefit liability	(6,269)		(7,180)		(9,662)
Net amount recognized	$	(34,474)	$	224,611	$	(10,808)

Schedule of Plan with Projected Benefit Obligation and Accumulated Benefit Obligations in Excess of Plan Assets

The following table provides information about pension plans with projected benefit obligations and accumulated benefit obligations in excess of plan assets:


	Year Ended December 31, 2021
	Domestic		International
	(in thousands)
Projected benefit obligation	$	58,789	$	7,179
Accumulated benefit obligation	$	57,669	$	7,179
Fair value of plan assets	$	—	$	—

Schedule of Net Benefit Costs

The components of net periodic benefit costs recognized in the statement of operations were as follows:


	Year Ended December 31, 2021
	Pension				Postretirement
	Domestic		International		Domestic
	(in thousands)
Components of net periodic benefit costs
Service cost	$	368	$	—	$	1
Interest cost	224		981		22
Expected return on plan assets	(564)		(1,640)		—

Actuarial (gain) loss amortization	(2,480)		9,724		(132)

Contractual termination benefits	11,785		—		—
Net periodic benefit costs (credit)	$	9,333	$	9,065	$	(109)

Schedule of Assumptions

Benefit obligations were determined using the following weighted average assumptions:


	Year Ended December 31, 2021
	Pension				Postretirement
	Domestic		International		Domestic
Weighted average assumptions
Discount rate	2.04	%	1.67	%	2.61	%
Rate of compensation increase	2.95	%	N/A		3.50	%
Cash balance interest rate credit	2.13	%	N/A		N/A

Net periodic benefit costs (credit) were determined using the following weighted average assumptions:


	Year Ended December 31, 2021
	Pension				Postretirement
	Domestic		International		Domestic
Weighted average assumptions
Discount rate	2.02	%	1.40	%	2.52	%
Expected return on plan assets	6.00	%	1.90	%	N/A
Rate of compensation increase	2.90	%	N/A		3.50	%
Cash balance interest credit rate	2.04	%	N/A		N/A

The assumed healthcare trend rates used to measure the expected cost of benefits were as follows:


	Postretirement
Assumed healthcare cost trend rate
Rate of increase in healthcare cost levels
Initial level	6.50	%
Ultimate level	5.00	%
Years to ultimate level	6

Schedule of Allocation of Plan Assets

The targeted and weighted average asset allocations by asset category for investments held by the Company’s pension plans are as follows:


	Year Ended December 31, 2021
	Domestic Allocation		International Allocation
	Target	Actual	Target	Actual
Equity securities	62%	63%	1%	2%
Fixed income securities	38%	36%	63%	63%
Other securities (b)	—%	1%	36%	35%
Total	100%	100%	100%	100%

_____________________

(b) Other primarily includes pooled investment funds and an insurance buy-in contract.

Schedule of Fair Value Measurements

Fair value measurements for the U.S. funded (qualified) pension plan assets were as follows:


	December 31, 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)
Investments in registered investment companies
Equity	$	65,982	$	17,866	$	—	$	83,848
Fixed income	7,442		39,148		—		46,590
Pooled separate accounts	—		1,888		—		1,888
Total assets at fair value	$	73,424	$	58,902	$	—	$	132,326

Fair value measurements for the international pension plan assets were as follows:


	December 31, 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)
Cash and cash equivalents	$	63,245	$	—	$	—	$	63,245
Pooled investments
Equity	1,154		9,728		—		10,882
Fixed income	6,276		45,362		—		51,638
Other	—		576,414		—		576,414
Insurance buy-in contract	—		—		313,095		313,095
Total assets at fair value	$	70,675	$	631,504	$	313,095	$	1,015,274

Schedule of Changes in Fair Value of Plan Assets

The following table provides a reconciliation of the beginning and ending balances of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3):


	December 31, 2021
	(In thousands)
Balance at beginning of year	$	—
Acquisitions	327,722
Settlements	(1,040)
Change in fair value	(15,326)
Foreign currency translation	1,739
Balance at end of year	$	313,095

Schedule of Expected Benefit Payments

The following benefit payments, which reflect expected future service as appropriate, are expected to be paid:


	Pension Benefits				Postretirement Benefits
	Domestic		International		Domestic
Years Ended December 31,	(in thousands)
2022	$	90,676	$	18,775	$	1,161
2023	7,119		18,503		1,058
2024	7,312		20,369		988
2025	8,362		21,021		920
2026	7,117		21,909		827
Thereafter	34,356		125,118		3,258
Net amount recognized, end of year	$	154,942	$	225,695	$	8,212

FINANCIAL STATEMENT DETAILS (Tables)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents

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


	December 31, 2021		December 31, 2020		December 31, 2019		December 31, 2018
	(In thousands)
Cash and cash equivalents	$	2,118,730	$	3,366,176	$	837,916	$	883,991
Restricted cash included in other current assets	1,941		448		503		1,417
Restricted cash included in other non-current assets	1,193		449		409		420
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	—		110,037		1,904		1,008
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$	2,121,864	$	3,477,110	$	840,732	$	886,836

Schedule of Restricted Cash

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


	December 31, 2021		December 31, 2020		December 31, 2019		December 31, 2018
	(In thousands)
Cash and cash equivalents	$	2,118,730	$	3,366,176	$	837,916	$	883,991
Restricted cash included in other current assets	1,941		448		503		1,417
Restricted cash included in other non-current assets	1,193		449		409		420
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	—		110,037		1,904		1,008
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$	2,121,864	$	3,477,110	$	840,732	$	886,836

Schedule of Changes in the Allowance for Credit Losses

The following table presents the changes in the allowance for credit losses for the years ended December 31, 2021 and 2020, respectively:


	2021		2020
	(In thousands)
Balance at January 1	$	27,178	$	19,984
Current period provision for credit losses	89,893		78,931
Write-offs charged against the allowance	(82,875)		(74,170)

Recoveries collected	2,441		2,433
Balance at December 31	$	36,637	$	27,178

Schedule of Other Current Assets


	December 31,
	2021		2020
	(In thousands)

Prepaid expenses	$	73,483	$	46,096

Inventories, net (a)	30,710		317
Other	137,995		93,609
Other current assets	$	242,188	$	140,022

_____________________

(a) Includes raw materials of $17.0 million, work in process of $11.1 million, and finished goods of $2.4 million at December 31, 2021. Represents $0.3 million of finished goods at December 31, 2020.

Schedule of Property and Equipment, Net


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


	December 31,
	2021		2020
	(In thousands)
Buildings and leasehold improvements	$	418,249	$	195,502
Capitalized software and computer equipment	386,421		149,693
Furniture and other equipment	181,605		83,501
Land	33,919		—
Projects in progress	47,218		53,635
Buildings, capitalized software, leasehold improvements, equipment and land	1,067,412		482,331
Accumulated depreciation and amortization	(496,887)		(207,401)
Buildings, capitalized software, leasehold improvements, equipment and land, net	$	570,525	$	274,930

Schedule of Accrued Expenses and Other Current Liabilities


	December 31,
	2021		2020
	(In thousands)
Accrued employee compensation and benefits	$	277,594	$	107,280
Customer deposit liability	146,282		—
Accrued advertising expense	67,986		56,286
Accrued traffic acquisition costs	77,913		38,710
Other	410,799		138,130
Accrued expenses and other current liabilities	$	980,574	$	340,406

Schedule of Other (Expense) Income, Net


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Unrealized increase (decrease) in the estimated fair value of a warrant	$	104,018	$	(1,213)	$	(9,123)
Unrealized gain related to an investment following its initial public offering	18,788		—		—
Upward adjustments to the carrying value of equity securities without readily determinable fair values	8,892		—		18,505
Realized gain on the sale of a marketable equity security	7,174		—		20,486
Realized gains related to the sale of investments	5,773		10,373		330
Realized gains related to the sale of business	4,209		1,061		—
Interest income	1,351		7,177		15,159
Net periodic pension benefit costs, other than the service cost component	(17,858)		—		—
Foreign exchange (losses) gains, net (a)	(13,636)		674		117
Loss on the extinguishment of debt (b)	(1,110)		—		—
Impairments related to COVID-19 (c)	—		(59,001)		—
Other	(5,747)		(1,632)		(4,987)
Other income (expense), net	$	111,854	$	(42,561)	$	40,487

_____________________

(a) 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.

(b) 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.

Schedule of Supplemental Disclosure of Cash Flow Information


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Cash paid (received) during the year for:
Interest	$	21,702	$	6,524	$	10,042
Income tax payments	$	9,880	$	5,974	$	4,797
Income tax refunds	$	(1,762)	$	(2,010)	$	(3,048)

ORGANIZATION - Narrative (Details) professional in Thousands, project in Millions, people in Millions	12 Months Ended
	Dec. 31, 2021 people brand segment category professional project
Dotdash Meredith
Business Acquisition [Line Items]
Number of product users (nearly) \| people	200
Number of iconic brands (over) \| brand	40
Number of operating segments	2
Angi Inc.
Business Acquisition [Line Items]
Number of service categories (more than) \| category	500
Number of service professionals (over) \| professional	240
Number of projects \| project	33
Number of operating segments	2
Angi Inc.
Business Acquisition [Line Items]
Ownership interest (as a percent)	84.50%
Voting interest (as a percent)	98.20%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Covid-19 Update (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Goodwill impairment			$ 0	$ 265,146	$ 3,318
Impairment of equity securities without readily determinable fair value		$ 51,500		51,500
Impairment of note receivable and warrant		7,500		7,500
Search
Goodwill [Line Items]
Goodwill impairment				265,146
Search \| Desktop
Goodwill [Line Items]
Goodwill impairment	$ 53,200	212,000		265,100
Impairment charges on indefinite-lived intangible assets	$ 10,800	$ 21,400		$ 32,200

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounting for Investments in Equity Securities (Details) - investment	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Number of equity method investments	1	1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Capitalized Contract Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Capitalized Contract Cost [Line Items]
Current	$ 48,692	$ 58,788
Non-current	6,086	4,397
Total	54,778	63,185
Sales Commissions
Capitalized Contract Cost [Line Items]
Current	39,669	50,319
Non-current	6,086	4,397
Total	45,755	54,716
App Store Fees
Capitalized Contract Cost [Line Items]
Current	9,023	8,469
Non-current	0	0
Total	$ 9,023	$ 8,469

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Capitalized Contract Cost [Line Items]
Amortization of capitalized contract costs	$ 125,900	$ 101,300	$ 94,900
Period of membership subscription	1 year
Revenue	$ 3,699,627	2,764,536	2,509,980
Period of payment due from customers for accounts receivable	30 days
Current deferred revenue	$ 24,100	137,658	94,700
Non-current deferred revenue	400	700	$ 600
Deferred revenue recognized during period	132,200	86,600
Meredith Corporation
Capitalized Contract Cost [Line Items]
Revenue	$ 169,900
Desktop \| Minimum \| Search
Capitalized Contract Cost [Line Items]
Period of membership subscription	1 year
Desktop \| Maximum \| Search
Capitalized Contract Cost [Line Items]
Period of membership subscription	2 years
Revenue Change \| Handy Technologies, Inc.
Capitalized Contract Cost [Line Items]
Revenue		$ 73,800

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents (Details)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Maturity period at purchase (less than)	91 days

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Certain Risks and Concentrations (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Concentration Risk [Line Items]
Revenue			$ 3,699,627	$ 2,764,536	$ 2,509,980
Goodwill impairment			0	265,146	3,318
Operating Income (Loss)			(137,067)	(537,663)	5,734
Desktop \| Business-to-Consumer
Concentration Risk [Line Items]
Revenue			77,700
Decrease in revenue			55,500
Increase in operating income, excluding impairment charges			32,500
Operating Income (Loss)			49,700
Search
Concentration Risk [Line Items]
Goodwill impairment				265,146
Search \| Desktop
Concentration Risk [Line Items]
Goodwill impairment	$ 53,200	$ 212,000		265,100
Impairment charges on indefinite-lived intangible assets	$ 10,800	$ 21,400		32,200
Revenue \| Customer Concentration Risk
Concentration Risk [Line Items]
Revenue			661,300	498,300	677,000
Revenue \| Customer Concentration Risk \| Search \| Ask Media Group
Concentration Risk [Line Items]
Revenue			542,100	344,800	385,900
Revenue \| Customer Concentration Risk \| Search \| Desktop
Concentration Risk [Line Items]
Revenue			119,100	153,500	291,100
Google Inc. \| Revenue \| Customer Concentration Risk
Concentration Risk [Line Items]
Revenue			$ 755,100	$ 556,100	$ 732,100
Concentration risk (as a percent)			20.00%	20.00%	29.00%
Google Inc. \| Accounts Receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Accounts receivable			$ 89,100	$ 61,900
Services Agreement \| Revenue \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk (as a percent)			18.00%	18.00%	27.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimated Useful Lives of Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Buildings, capitalized software, leasehold improvements, equipment and land, net	$ 570,525	$ 274,930
Buildings and leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	3 years
Buildings and leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	39 years
Capitalized software and computer equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	2 years
Capitalized software and computer equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	3 years
Furniture and other equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	3 years
Furniture and other equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	12 years
Software and software development costs
Property, Plant and Equipment [Line Items]
Buildings, capitalized software, leasehold improvements, equipment and land, net	$ 131,600	$ 68,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Goodwill and Indefinite-Lived Intangible Assets (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Oct. 01, 2021 USD ($)
Goodwill [Line Items]
Market capitalization						$ 6,200,000
Amount by which market capitalization exceeds carrying value						$ 5,000,000
Goodwill			$ 3,226,610	$ 1,660,102	$ 1,397,493
Goodwill impairment			$ 0	265,146	3,318
Search
Goodwill [Line Items]
Goodwill				0	265,146
Goodwill impairment				$ 265,146
Discount Rate \| Minimum \| Indefinite-lived Intangible Assets
Goodwill [Line Items]
Measurement input (as a percent)			0.100	0.115
Discount Rate \| Maximum \| Indefinite-lived Intangible Assets
Goodwill [Line Items]
Measurement input (as a percent)			0.400	0.250
Royalty Rate \| Minimum \| Indefinite-lived Intangible Assets
Goodwill [Line Items]
Measurement input (as a percent)			0.010	0.0100
Royalty Rate \| Maximum \| Indefinite-lived Intangible Assets
Goodwill [Line Items]
Measurement input (as a percent)			0.050	0.055
Mosaic Group \| Discount Rate
Goodwill [Line Items]
Measurement input (as a percent)			0.150	0.150
Desktop \| Search
Goodwill [Line Items]
Goodwill impairment	$ 53,200	$ 212,000		$ 265,100
Impairment charges on indefinite-lived intangible assets	$ 10,800	$ 21,400		$ 32,200
College Humor Media
Goodwill [Line Items]
Goodwill impairment					3,300
College Humor Media \| Trade names
Goodwill [Line Items]
Impairment charges on indefinite-lived intangible assets					$ 700
Desktop \| Mosaic Group
Goodwill [Line Items]
Goodwill			$ 243,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Advertising expense	$ 877.2	$ 796.7	$ 795.1
Capitalized downloadable search toolbar costs, net	$ 0.6	$ 13.2
Fee amortization period	18 months

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Foreign Currency Translation and Transaction Gains and Losses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other (Expense) Income, Net \| Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss)
Gains (losses) reclassified to earnings	$ 10,000,000	$ 100,000	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Redeemable Noncontrolling Interests (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) arrangement	Dec. 31, 2020 USD ($) arrangement	Dec. 31, 2019 USD ($) arrangement
Noncontrolling Interest [Line Items]
Put and call arrangements exercised \| arrangement	2	1	1
Redeemable noncontrolling interests	$ 18,741	$ 231,992
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff \| Vimeo
Noncontrolling Interest [Line Items]
Redeemable noncontrolling interests		188,000
Redeemable Noncontrolling Interest
Noncontrolling Interest [Line Items]
Purchase of noncontrolling interests	$ 777,300	$ 171,000	$ 500

INCOME TAXES - Income before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
U.S.	$ 758,538	$ 234,345	$ (11,249)
Foreign	(28,732)	9,815	45,566
Earnings from continuing operations before income taxes	$ 729,806	$ 244,160	$ 34,317

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-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 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

INCOME TAXES - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current income tax provision (benefit):
Federal	$ (5,818)	$ (29,181)	$ (1,117)
State	4,750	2,326	157
Foreign	6,681	(496)	2,985
Current income tax provision (benefit)	5,613	(27,351)	2,025
Deferred income tax provision (benefit):
Federal	111,755	(8,097)	(39,454)
State	18,063	(6,126)	(9,746)
Foreign	3,559	(4,133)	(174)
Deferred income tax provision (benefit)	133,377	(18,356)	(49,374)
Income tax provision (benefit)	$ 138,990	$ (45,707)	$ (47,349)

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carryforwards	$ 557,329	$ 392,871
Long-term lease liabilities	157,504	58,457
Customer deposit liability	56,194	0
Tax credit carryforwards	48,081	41,970
Accrued expenses	47,754	17,247
Stock-based compensation	25,477	41,850
Other	53,263	32,043
Total deferred tax assets	945,602	584,438
Less: valuation allowance	(112,640)	(111,691)
Net deferred tax assets	832,962	472,747
Deferred tax liabilities:
Investment in MGM Resorts International	(389,837)	(197,998)
Intangible assets, net of accumulated amortization	(271,629)	(34,170)
Investment in subsidiaries	(227,632)	(242,537)
Right-of-use assets	(122,095)	(43,074)
Buildings, capitalized software, leasehold improvements, equipment and land, net	(70,959)	(16,645)
Other	(134,010)	(14,926)
Total deferred tax liabilities	(1,216,162)	(549,350)
Net deferred tax liabilities	$ (383,200)	$ (76,603)

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred Tax Assets, Operating Loss Carryforwards, Components [Abstract]
Income tax benefit related to net operating loss carryforwards	$ 166,400
Income tax benefit related to operating loss carryforwards recorded as reduction to goodwill	49,000
Tax credit carryforwards	65,000
Tax credit carryforwards that can be carried forward indefinitely	12,900
Tax credit carryforwards expiring primarily between 2021 and 2040	52,100
Deferred tax assets, gross	945,602	$ 584,438
Valuation Allowance
Decrease in valuation allowance	900
Valuation allowance at end of period	112,600
Income Taxes Paid, Net [Abstract]
Unrecognized tax benefits, income tax penalties and interest accrued	18,000	20,100
Unrecognized tax benefits, decrease primarily due to statute expirations	2,100
Tax positions for which the ultimate deductibility is highly certain but timing is uncertain	16,700	$ 18,500
Decrease in unrecognized tax benefits is reasonably possible	2,800
Tax benefits that would impact the income tax provision	2,500
Adjustment to additional paid-in-capital due to Separation	7,600
Federal Tax Authority
Deferred Tax Assets, Operating Loss Carryforwards, Components [Abstract]
Net operating loss carryforwards	1,800,000
Net operating loss carryforwards not subject to expiration	1,300,000
Net operating loss carryforwards subject to expiration within 20 years	500,000
Net operating loss carryforwards without restrictions	1,400,000
State Tax Authority
Deferred Tax Assets, Operating Loss Carryforwards, Components [Abstract]
Net operating loss carryforwards	1,300,000
Net operating loss carryforwards without restrictions	800,000
Tax credit carryforwards	2,000
Foreign Tax Authority
Deferred Tax Assets, Operating Loss Carryforwards, Components [Abstract]
Net operating loss carryforwards	496,700
Net operating loss carryforwards not subject to expiration	446,800
Net operating loss carryforwards subject to expiration within 20 years	49,900
Tax credit carryforwards	12,200
Tax credit carryforwards related to research and development	$ 50,800

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax provision at the federal statutory rate of 21%	$ 153,259	$ 51,274	$ 7,207
State income taxes, net of effect of federal tax benefit	24,289	16,995	468
Stock-based compensation	(83,396)	(163,633)	(56,708)
Change in judgement on beginning of the year valuation allowance	20,248	(3,544)	0
Non-deductible executive compensation	14,025	14,219	7,409
Research credit	(5,094)	(6,078)	(4,449)
Non-deductible expenses	4,328	5,947	5,353
Deferred tax adjustment for enacted changes in tax laws and rates	4,049	(14,508)	(688)
Change in valuation allowance on capital losses	754	11,385	(7,365)
Non-deductible goodwill impairment	0	53,012	0
Amortizable tax basis related to intercompany transaction	0	(7,044)	0
Other, net	6,528	(3,732)	1,424
Income tax provision (benefit)	$ 138,990	$ (45,707)	$ (47,349)

INCOME TAXES - Income Tax Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns
Balance at beginning of the period	$ 18,233	$ 16,585	$ 14,425
Additions for tax positions related to the current year	2,855	3,419	2,332
Settlements	(1,427)	(3,733)	0
Additions for tax positions of prior years	3,420	2,313	238
Reductions for tax positions of prior years	(1,116)	0	0
Expiration of applicable statutes of limitations	(4,516)	(351)	(410)
Balance at end of the period	$ 17,449	$ 18,233	$ 16,585

DISCONTINUED OPERATIONS - Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 0	$ 110,037	$ 1,904	$ 1,008
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	$ 18,741	231,992
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
Redeemable noncontrolling interests		$ 188,000

DISCONTINUED OPERATIONS - Components of Loss (Details) - USD ($) $ in Thousands	5 Months Ended	12 Months Ended
	May 25, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating costs and expenses:
Loss from discontinued operations, net of tax		$ (1,831)	$ (21,281)	$ (49,483)
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	$ 145,514		283,146	195,821
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	39,995		88,589	68,873
Selling and marketing expense	54,774		104,216	84,298
General and administrative expense	23,343		47,019	44,177
Product development expense	35,651		62,803	44,524
Depreciation	182		460	478
Amortization of intangibles	2,983		14,745	9,653
Total operating costs and expenses	156,928		317,832	252,003
Operating loss from discontinued operations	(11,414)		(34,686)	(56,182)
Interest expense	(140)		0	0
Other income (expense), net	10,172		93	(6,441)
Loss from discontinued operations before tax	(1,382)		(34,593)	(62,623)
Income tax (provision) benefit	(449)		13,312	13,140
Loss from discontinued operations, net of tax	$ (1,831)		$ (21,281)	$ (49,483)

BUSINESS COMBINATIONS - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Dec. 01, 2021	Feb. 11, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Revenue			$ 3,699,627	$ 2,764,536	$ 2,509,980
Net income (loss)			597,547	269,726	$ 22,895
Increase in amortization expense			102,000	$ 65,600
Reduction in transaction-related costs			130,800
Meredith Corporation
Business Acquisition [Line Items]
Proportion of voting interests acquired (as a percent)	100.00%
Business acquisition, purchase price (in dollars per share)	$ 42.18
Revenue			169,900
Net income (loss)			$ (59,300)
Transaction-related costs	$ 65,100
Total preliminary purchase price	2,686,465
Adjustment accounts receivable and other receivables	10,100
Contingency liability, including indemnification liabilities	100,000
Cash payment used to settle a portion of Meredith debt	625,000
Consideration transferred for settlement of outstanding vested employee equity awards	$ 1,931,376
Care.com
Business Acquisition [Line Items]
Proportion of voting interests acquired (as a percent)		100.00%
Total preliminary purchase price		$ 626,900
Cash consideration paid		587,000
Consideration transferred for settlement of outstanding vested employee equity awards		$ 40,000

BUSINESS COMBINATIONS - Purchase Price Allocation (Details) - Meredith Corporation $ in Thousands	Dec. 01, 2021 USD ($)
Business Acquisition [Line Items]
Common stock of Meredith	$ 1,931,376
Cash payment used to settle a portion of Meredith debt	625,000
Cash settlement of all outstanding vested equity awards and deferred compensation	130,089
Total preliminary purchase price	$ 2,686,465

BUSINESS COMBINATIONS - Preliminary Estimated Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 01, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 3,226,610		$ 1,660,102	$ 1,397,493
Meredith Corporation
Business Acquisition [Line Items]
Cash and cash equivalents		$ 12,436
Accounts receivable		373,555
Other current assets		91,364
Property and equipment		283,319
Goodwill		1,567,843
Intangible assets		1,095,500
Other non-current assets		682,272
Total assets		4,106,289
Customer deposit liability		(141,888)
Other current liabilities		(459,712)
Deferred income taxes		(230,880)
Other non-current liabilities		(587,344)
Net assets acquired		$ 2,686,465

BUSINESS COMBINATIONS - Preliminary Estimated Fair Value of Intangible Assets Acquired (Details) - Meredith Corporation $ in Thousands	Dec. 01, 2021 USD ($)
Acquired Intangible Assets [Line Items]
Total identifiable intangible assets acquired	$ 1,095,500
Advertiser relationships
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 334,000
Advertiser relationships \| Minimum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	5 years
Advertiser relationships \| Maximum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	7 years
Licensee relationships
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 150,000
Licensee relationships \| Minimum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	3 years
Licensee relationships \| Maximum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	6 years
Trade name and trademarks
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 105,000
Trade name and trademarks \| Minimum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	2 years
Trade name and trademarks \| Maximum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	5 years
Subscriber relationships
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 73,700
Subscriber relationships \| Minimum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	1 year
Subscriber relationships \| Maximum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	2 years
Trade name and trademarks
Acquired Intangible Assets [Line Items]
Indefinite-lived intangible assets acquired	$ 432,800

BUSINESS COMBINATIONS - Pro-Forma Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition, Pro Forma Information [Abstract]
Revenue	$ 5,599,334	$ 4,840,324
Net earnings (loss) from continuing operations	$ 666,882	$ (27,702)
Basic earnings (loss) per share from continuing operations (USD per share)	$ 7.57	$ (0.32)
Diluted earnings (loss) per share from continuing operations (USD per share)	$ 7.15	$ (0.32)
Net earnings (loss) attributable to IAC shareholders	$ 673,613	$ (43,177)
Basic earnings (loss) per share attributable to IAC shareholders (USD per share)	$ 7.55	$ (0.51)
Diluted earnings (loss) per share attributable to IAC shareholders (USD per share)	$ 7.13	$ (0.51)

GOODWILL AND INTANGIBLE ASSETS - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 3,226,610	$ 1,660,102	$ 1,397,493
Intangible assets with definite lives, net of accumulated amortization	735,743	148,073
Intangible assets with indefinite lives	679,149	246,913
Total goodwill and intangible assets, net	$ 4,641,502	$ 2,055,088

GOODWILL AND INTANGIBLE ASSETS - Goodwill by Reporting Unit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill
Balance at beginning of period	$ 1,660,102	$ 1,397,493
Additions	1,594,665	522,070
(Deductions)	(25,376)
Impairment	0	(265,146)	$ (3,318)
Foreign Exchange Translation	(2,781)	5,685
Balance at end of period	3,226,610	1,660,102	1,397,493
Dotdash Meredith
Goodwill
Additions	1,567,843
(Deductions)	0
Balance at end of period	1,567,843
Angi Inc.
Goodwill
Balance at beginning of period	892,133	884,296
Additions	26,822	2,665
(Deductions)	0
Impairment		0
Foreign Exchange Translation	(2,580)	5,172
Balance at end of period	916,375	892,133	884,296
Search
Goodwill
Balance at beginning of period	0	265,146
Additions		0
Impairment		(265,146)
Foreign Exchange Translation		0
Balance at end of period		0	265,146
Emerging & Other
Goodwill
Balance at beginning of period	767,969	248,051
Additions	0	519,405
(Deductions)	(25,376)
Impairment		0
Foreign Exchange Translation	(201)	513
Balance at end of period	$ 742,392	$ 767,969	$ 248,051

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Goodwill impairment			$ 0	$ 265,146	$ 3,318
Search
Goodwill [Line Items]
Goodwill impairment				265,146
Goodwill, impaired, accumulated impairment loss			981,300	981,300
Search \| Desktop
Goodwill [Line Items]
Goodwill impairment	$ 53,200	$ 212,000		265,100
Impairment charges on indefinite-lived intangible assets	$ 10,800	$ 21,400		32,200
Dotdash Meredith
Goodwill [Line Items]
Goodwill, impaired, accumulated impairment loss			$ 198,300	$ 198,300

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets with Definite Lives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Intangible assets with definite lives
Gross Carrying Amount	$ 1,014,574	$ 392,866
Accumulated Amortization	(278,831)	(244,793)
Total	$ 735,743	$ 148,073
Weighted-Average Useful Life	4 years 7 months 6 days	4 years 1 month 6 days
Advertiser relationships
Intangible assets with definite lives
Gross Carrying Amount	$ 334,000
Accumulated Amortization	(6,386)
Total	$ 327,614
Weighted-Average Useful Life	5 years 2 months 12 days
Licensee relationships
Intangible assets with definite lives
Gross Carrying Amount	$ 150,000
Accumulated Amortization	(2,923)
Total	$ 147,077
Weighted-Average Useful Life	4 years 10 months 24 days
Trade names
Intangible assets with definite lives
Gross Carrying Amount	$ 145,598	$ 50,633
Accumulated Amortization	(18,224)	(16,760)
Total	$ 127,374	$ 33,873
Weighted-Average Useful Life	5 years 1 month 6 days	6 years 10 months 24 days
Technology
Intangible assets with definite lives
Gross Carrying Amount	$ 133,318	$ 142,247
Accumulated Amortization	(106,415)	(82,813)
Total	$ 26,903	$ 59,434
Weighted-Average Useful Life	4 years 2 months 12 days	4 years 2 months 12 days
Service professional relationships
Intangible assets with definite lives
Gross Carrying Amount	$ 98,789	$ 97,960
Accumulated Amortization	(97,877)	(97,312)
Total	$ 912	$ 648
Weighted-Average Useful Life	3 years	3 years
Subscriber relationships
Intangible assets with definite lives
Gross Carrying Amount	$ 73,700
Accumulated Amortization	(3,961)
Total	$ 69,739
Weighted-Average Useful Life	2 years
Customer lists and user base
Intangible assets with definite lives
Gross Carrying Amount	$ 68,730	$ 75,687
Accumulated Amortization	(32,606)	(22,027)
Total	$ 36,124	$ 53,660
Weighted-Average Useful Life	6 years 4 months 24 days	4 years
Memberships
Intangible assets with definite lives
Gross Carrying Amount		$ 15,900
Accumulated Amortization		$ (15,900)
Weighted-Average Useful Life		3 years
Other
Intangible assets with definite lives
Gross Carrying Amount	$ 10,439	$ 10,439
Accumulated Amortization	$ (10,439)	(9,981)
Total		$ 458
Weighted-Average Useful Life	3 years 4 months 24 days	3 years 4 months 24 days

GOODWILL AND INTANGIBLE ASSETS - Expected Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 216,674
2023	176,238
2024	129,740
2025	98,865
2026	81,736
Thereafter	32,490
Total	$ 735,743	$ 148,073

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Fair Value of Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Investment in MGM	$ 19,788	$ 0
Fair Value	0	224,979
Total marketable securities	$ 19,788	$ 224,979

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Narrative (Details) shares in Millions	6 Months Ended	9 Months Ended	12 Months Ended			21 Months Ended
	Sep. 30, 2020 shares	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) investment	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2021 USD ($)	Dec. 01, 2021 USD ($)	Mar. 31, 2020 USD ($)	Feb. 11, 2020 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of investments in marketable equity securities \| investment			1
Unrealized gain on marketable equity security			$ 18,800,000
Realized (loss) gain on the sale of a marketable equity security		$ 7,200,000	7,174,000	$ 0	$ 20,486,000
Available-for-sale marketable debt securities in a continuous unrealized loss position for longer than twelve months				0
Unrealized gain (loss) on investment			789,283,000	840,550,000	$ 0
Impairment of equity securities without readily determinable fair value				51,500,000				$ 51,500,000
Total upward adjustments to equity securities without readily determinable fair value			28,700,000			$ 28,700,000
Total downward adjustments to equity securities without readily determinable fair value			43,600,000			43,600,000
Earnout payment for contingent consideration arrangement			7,000,000
Contingent consideration arrangement liability			612,000	$ 0		612,000
Care.com
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) related to contingent consideration arrangements			(15,000,000)
Contingent consideration arrangement liability									$ 1,000,000
Meredith Corporation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration arrangement liability							$ 600,000
Turo
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ownership interest (as a percent)				27.50%
MGM
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of equity securities purchased (in shares) \| shares	59.0
Unrealized gain (loss) on investment			$ 789,300,000	$ 840,500,000		$ 1,600,000,000

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 - Investments in MGM Resorts International (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Investment in MGM Resorts International	$ 2,649,442	$ 1,860,158

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Long-term Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Equity securities without readily determinable fair values	$ 324,649	$ 296,491
Equity method investment	3,189	1,152
Long-term investments	$ 327,838	$ 297,643

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Realized and Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Adjustments to the Carrying Value of Equity Securities Without Readily Determinable Fair Values
Upward adjustments (gross unrealized gains)	$ 8,992	$ 0
Downward adjustments including impairments (gross unrealized losses)	(100)	(51,484)
Total	8,892	(51,484)
Equity Securities without Readily Determinable Fair Values, Realized and Unrealized Gains (Losses)
Realized gains, net, for equity securities sold	5,773	1,873	$ 20,883
Unrealized gains, net, on equity securities held	8,892	797,565	18,505
Total gains recognized, net	$ 14,665	$ 799,438	$ 39,388

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets:
Marketable equity security	$ 19,788
Marketable debt securities		$ 224,979
Investment in MGM	2,649,442	1,860,158
Other non-current assets	1,037,067	288,021
Total assets	4,445,502	5,087,339
Liabilities:
Contingent consideration arrangements	(612)	0
Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Marketable equity security	19,788
Investment in MGM	2,649,442	1,860,158
Total assets	4,330,151	3,629,397
Significant Other Observable Inputs (Level 2)
Assets:
Marketable equity security	0
Investment in MGM	0	0
Total assets	6,057	1,452,666
Significant Unobservable Inputs (Level 3)
Assets:
Marketable equity security	0
Investment in MGM	0	0
Total assets	109,294	5,276
Liabilities:
Contingent consideration arrangements	(612)	0
Money market funds
Assets:
Cash equivalents	1,660,921	1,769,239
Money market funds \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Cash equivalents	1,660,921	1,769,239
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
Time deposits
Assets:
Cash equivalents	6,057	2,721
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	6,057	2,721
Time deposits \| Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	0	0
Treasury discount notes
Assets:
Cash equivalents		1,224,966
Marketable debt securities		224,979
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
Marketable debt securities		224,979
Treasury discount notes \| Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents		0
Marketable debt securities		0
Warrant
Assets:
Other non-current assets	109,294	5,276
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	$ 109,294	$ 5,276

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	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Contingent Consideration Arrangements
Contingent Consideration Arrangements
Balance at beginning of period	$ 0	$ (6,918)
Fair value at date of acquisition	(620)	(1,000)
Fair value adjustments included in earnings	(14,992)	6,918
Settlements	15,000	1,000
Balance at end of period	(612)	0
Warrant
Warrant
Balance at beginning of period	5,276	8,495
Fair value at date of acquisition	0	0
Fair value adjustments included in earnings	104,018	(3,219)
Settlements	0	0
Balance at end of period	$ 109,294	$ 5,276

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current portion of long-term debt	$ (30,000)	$ 0
Long-term debt, net	(2,046,237)	(712,277)
Unamortized original issue discount and debt issuance costs	23,800	7,700
Carrying Value
Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current portion of long-term debt	(30,000)	0
Long-term debt, net	(2,046,237)	(712,277)
Fair Value
Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current portion of long-term debt	(29,550)	0
Long-term debt, net	$ (2,061,450)	$ (725,700)

LONG-TERM DEBT - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Less: current portion of Dotdash Meredith long-term debt	$ 30,000	$ 0
Less: original issue discount	6,176
Less: unamortized debt issuance costs	17,587
Long-term debt, net	2,046,237	712,277
Dotdash Meredith
Debt Instrument [Line Items]
Long-term debt	1,600,000	0
Less: current portion of Dotdash Meredith long-term debt	30,000	0
Less: original issue discount	6,176	0
Less: unamortized debt issuance costs	12,139	0
Long-term debt, net	1,551,685	0
Angi Inc.
Debt Instrument [Line Items]
Long-term debt	500,000	720,000
Less: unamortized debt issuance costs	5,448	7,723
Long-term debt, net	494,552	712,277
Term Loan \| Dotdash Meredith Term Loan A
Debt Instrument [Line Items]
Long-term debt	$ 350,000
Stated interest rate (as a percent)	2.15%
Term Loan \| Dotdash Meredith Term Loan A \| Dotdash Meredith
Debt Instrument [Line Items]
Long-term debt	$ 350,000	0
Term Loan \| Dotdash Meredith Term Loan B Facility
Debt Instrument [Line Items]
Long-term debt	$ 1,250,000
Stated interest rate (as a percent)	4.50%
Term Loan \| Dotdash Meredith Term Loan B Facility \| Dotdash Meredith
Debt Instrument [Line Items]
Long-term debt	$ 1,250,000	0
Term Loan \| ANGI Group Term Loan due November 5, 2023 ("ANGI Group Term Loan")
Debt Instrument [Line Items]
Long-term debt		220,000
Term Loan \| ANGI Group Term Loan due November 5, 2023 ("ANGI Group Term Loan") \| Angi Inc.
Debt Instrument [Line Items]
Long-term debt	0
Senior Notes \| ANGI 3.875% Senior Notes \| Angi Inc.
Debt Instrument [Line Items]
Long-term debt	$ 500,000	$ 500,000
Stated interest rate (as a percent)	3.875%

LONG-TERM DEBT - Narrative (Details)			11 Months Ended	12 Months Ended			37 Months Ended	83 Months Ended
LONG-TERM DEBT - Narrative (Details)	Mar. 31, 2022 USD ($)	Dec. 01, 2021 USD ($)	Dec. 01, 2026 USD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2024 USD ($)	Dec. 01, 2028 USD ($)	Aug. 02, 2021 USD ($)
Dotdash Meredith Credit Agreement \| Term Loan
Debt Instrument [Line Items]
Debt covenant, net leverage ratio that would limit dividends					4.0
Dotdash Meredith Credit Agreement \| Term Loan \| Forecast
Debt Instrument [Line Items]
Consolidated net leverage ratio (no greater than)	5.5
Debt covenant, minimum amount needed to be drawn	$ 1.00
Debt covenant, percentage of face	1.02
Debt covenant, outstanding face amount of undrawn letters of credit, minimum	$ 25,000,000
Dotdash Meredith Term Loan A \| Term Loan
Debt Instrument [Line Items]
Term of debt instrument (years)		5 years
Face amount of debt instrument		$ 350,000,000
Stated interest rate (as a percent)					2.15%
Long-term debt, gross					$ 350,000,000
Dotdash Meredith Term Loan A \| Term Loan \| Forecast
Debt Instrument [Line Items]
Quarterly repayments of principal			$ 13,100,000	$ 8,800,000			$ 4,400,000
Dotdash Meredith Term Loan A \| Term Loan \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)					2.00%
Dotdash Meredith Term Loan B Facility \| Term Loan
Debt Instrument [Line Items]
Term of debt instrument (years)		7 years
Face amount of debt instrument		$ 1,250,000,000
Stated interest rate (as a percent)					4.50%
Long-term debt, gross					$ 1,250,000,000
Dotdash Meredith Term Loan B Facility \| Term Loan \| Forecast
Debt Instrument [Line Items]
Quarterly repayments of principal								$ 3,100,000
Dotdash Meredith Term Loan B Facility \| Term Loan \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)					4.00%
Dotdash Meredith Term Loan B Facility \| Term Loan \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)					0.50%
Dotdash Meredith Revolving Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Term of debt instrument (years)		5 years
Maximum borrowing capacity		$ 150,000,000
Outstanding borrowings under the credit facility					$ 0
Commitment fee (in basis points)					0.35%
ANGI 3.875% Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Secured leverage ratio, maximum					3.75
ANGI Homeservices 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]
Basis spread on variable rate (as a percent)						2.16%
Long-term debt, gross						$ 220,000,000

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

LONG-TERM DEBT - Aggregate Contractual Maturities of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2022	$ 30,000
2023	30,000
2024	30,000
2025	47,500
2026	275,000
Thereafter	1,687,500
Total	2,100,000
Current portion of long-term debt	30,000	$ 0
Less: original issue discount	6,176
Less: unamortized debt issuance costs	17,587
Long-term debt, net	$ 2,046,237	$ 712,277

SHAREHOLDERS' EQUITY - Narrative (Details)	12 Months Ended
SHAREHOLDERS' EQUITY - Narrative (Details)	Dec. 31, 2021 vote $ / shares	May 25, 2021 $ / shares shares	May 24, 2021 $ / shares	Jun. 30, 2020 shares
Class of Stock
Directors elected (as a percent)	25.00%
Number of shares issued upon Spin-off per preferred stock exchanged (in shares)		1.6235
Stock authorized for repurchase (shares)				8,000,000
Common Stock
Class of Stock
Number of votes \| vote	1
Common stock, par value (USD per share) \| $ / shares	$ 0.0001	$ 0.0001	$ 0.001
Number of shares issued upon Spin-off per preferred stock exchanged (in shares)		1.6235
Class B Common Stock
Class of Stock
Number of votes \| vote	10
Common stock, par value (USD per share) \| $ / shares	$ 0.0001	$ 0.0001	$ 0.001
Number of shares issued upon Spin-off per preferred stock exchanged (in shares)		1.6235
Series 1 Mandatorily Exchangeable Preferred Stock
Class of Stock
Preferred stock, par value (USD per share) \| $ / shares		$ 0.01
Number of preferred stock issued upon reclassification of common stock (in shares)		0.01
Series 2 Mandatorily Exchangeable Preferred Stock
Class of Stock
Preferred stock, par value (USD per share) \| $ / shares		$ 0.01
Number of preferred stock issued upon reclassification of common stock (in shares)		0.01

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Summary (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	$ 7,150,928,000	$ 3,005,146,000	$ 2,684,400,000
Total other comprehensive income, net of income taxes	10,464,000	7,812,000	308,000
Balance at end of period	7,748,960,000	7,150,928,000	3,005,146,000
Tax provision (benefit) on accumulated other comprehensive loss	0	0	0
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	(6,172,000)	(12,226,000)	(12,543,000)
Balance at end of period	4,397,000	(6,172,000)	(12,226,000)
Foreign Currency Translation Adjustment including portion attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other comprehensive (loss) income before reclassifications	527,000	6,236,000	337,000
Amounts reclassified to earnings	10,032,000	(144,000)
Total other comprehensive income, net of income taxes	10,559,000	6,092,000	337,000
Foreign Currency Translation Adjustment attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Total other comprehensive income, net of income taxes	10,000	(38,000)	(20,000)
Unrealized Gains On Available-For-Sale Marketable Debt Securities
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	2,000	0	2,000
Balance at end of period	0	2,000	0
Unrealized Gains (Losses) on Available-for-Sale Debt Securities including Portion Attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other comprehensive (loss) income before reclassifications	(2,000)	2,000	(2,000)
Amounts reclassified to earnings	0	0
Total other comprehensive income, net of income taxes	(2,000)	2,000	(2,000)
Unrealized Gains (Losses) on Available-for-Sale Debt Securities attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Total other comprehensive income, net of income taxes	0	0	0
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	(6,170,000)	(12,226,000)	(12,541,000)
Balance at end of period	4,397,000	(6,170,000)	(12,226,000)
Accumulated Other Comprehensive (Loss) Income including portion attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other comprehensive (loss) income before reclassifications	525,000	6,238,000	335,000
Amounts reclassified to earnings	10,032,000	(144,000)
Total other comprehensive income, net of income taxes	10,557,000	6,094,000	335,000
Accumulated Other Comprehensive (Loss) Income attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Total other comprehensive income, net of income taxes	$ 10,000	$ (38,000)	$ (20,000)

EARNINGS PER SHARE - Summary (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Nov. 05, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator: Basic
Net earnings from continuing operations		$ 590,816	$ 289,867	$ 81,666
Net loss (earnings) attributable to noncontrolling interests of continuing operations		8,748	726	(9,945)
Net earnings attributed to unvested participating security		(20,160)	0	0
Net earnings from continuing operations attributable to IAC Common Stock and Class B common stock shareholders		579,404	290,593	71,721
Loss from discontinued operations, net of tax		(1,831)	(21,281)	(49,483)
Net (earnings) loss attributable to noncontrolling interests of discontinued operations		(186)	414	657
Net loss attributed to unvested participating security		68	0	0
Net loss from discontinued operations attributable to IAC Common Stock and Class B common stock shareholders		(1,949)	(20,867)	(48,826)
Net earnings attributable to IAC shareholders		$ 577,455	$ 269,726	$ 22,895
Denominator: Basic
Weighted average basic IAC Common Stock and Class B common stock shares outstanding (shares)		86,222,000	85,355,000	85,132,000
Earnings (loss) per share: Basic
Earnings per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders (USD per share)		$ 6.72	$ 3.40	$ 0.84
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders (USD per share)		(0.02)	(0.24)	(0.57)
Earnings per share attributable to IAC Common Stock shareholders and Class B common stock shareholders (USD per share)		$ 6.70	$ 3.16	$ 0.27
Numerator: Diluted
Net earnings from continuing operations		$ 590,816	$ 289,867	$ 81,666
Net loss (earnings) attributable to noncontrolling interests of continuing operations		8,748	726	(9,945)
Net earnings attributed to unvested participating security		(18,981)	0	0
Impact from public subsidiary's dilutive securities		406	71	0
Net earnings from continuing operations attributable to IAC Common Stock and Class B common stock shareholders		580,989	290,664	71,721
Loss from discontinued operations, net of tax		(1,831)	(21,281)	(49,483)
Net (earnings) loss attributable to noncontrolling interests of discontinued operations		(186)	414	657
Net loss attributed to unvested participating security		64	0	0
Net loss from discontinued operations attributable to IAC Common Stock and Class B common stock shareholders		(1,953)	(20,867)	(48,826)
Net earnings attributable to IAC Common Stock and Class B common stock shareholders		$ 579,036	$ 269,797	$ 22,895
Denominator: Diluted
Weighted average basic IAC Common Stock and Class B common stock shares outstanding (shares)		86,222,000	85,355,000	85,132,000
Dilutive securities (shares)		5,606,000	5,593,000	0
Denominator for earnings per share - weighted average shares (shares)		91,828,000	90,948,000	85,132,000
Earnings (loss) per share: Diluted
Earnings per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders (USD per share)		$ 6.33	$ 3.20	$ 0.84
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders (USD per share)		(0.02)	(0.23)	(0.57)
Earnings per share attributable to IAC Common Stock and Class B common stock shareholders (USD per share)		$ 6.31	$ 2.97	$ 0.27
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)		3,000,000	3,100,000
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)	3,000,000
Term of employment agreement and restricted stock agreement (in years)	10 years

STOCK-BASED COMPENSATION - Narrative (Details) $ / shares in Units, $ in Thousands				5 Months Ended	6 Months Ended	7 Months Ended	12 Months Ended
	Feb. 11, 2022 USD ($) shares	May 25, 2021 USD ($) shares	Nov. 05, 2020 USD ($) $ / shares shares	May 24, 2021 $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) plan $ / shares shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award
Number of active stock-based compensation plans \| plan							1
Shares available for grant (shares) \| shares						31,600,000	31,600,000
Unrecognized compensation cost, net of estimated forfeitures						$ 365,100	$ 365,100
Weighted-average period over which cost is expected to be recognized (in years)							5 years 1 month 6 days
Tax benefit recognized related to stock-based compensation							$ 101,800	$ 198,300	$ 81,500
Tax benefit recognized related to the exercise of stock options							81,000	165,800	64,000
Incremental compensation cost								14,100	12,900
Incremental compensation cost from modification recognized in year of modification								55,700
Number of shares issued upon Spin-off per preferred stock exchanged (in shares) \| shares		1.6235
Intrinsic value of stock options exercised					$ 74,800		135,100
Options outstanding, aggregate intrinsic value						$ 338,005	338,005
Proceeds from the exercise of IAC stock options							$ 1,496	$ 0	0
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award
Grant date fair value of award	$ 131,700
Cash withholding obligation equivalent (shares) \| shares	7,700,000
Withholding rate (as a percent)	50.00%
Cash required to settle vested and unvested interests at fair value	$ 65,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Equity instruments other than options, outstanding (shares) \| shares		2,039,000		1,357,000	1,503,000	1,546,000	1,546,000	1,503,000
Weighted average grant date fair value of restricted common stock granted (USD per share) \| $ / shares				$ 208.18	$ 128.82	$ 127.77	$ 171.53
Adjustment ratio \| shares		1.503
Fair value of RSUs that vested during the period					$ 3,800		$ 15,900
Restricted Stock Units (RSUs) \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares required to settle vested and unvested interests at fair value (shares) \| shares	900,000
Cash withholding obligation	$ 108,600
Withholding rate (as a percent)	50.00%
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award
Equity instruments other than options, outstanding (shares) \| shares						0	0
Market-Based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Equity instruments other than options, outstanding (shares) \| shares						0	0
Fair value of RSUs that vested during the period					$ 43,600
Stock Options \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award
Cash withholding obligation equivalent (shares) \| shares	1,300,000
Number of shares required to settle vested and unvested interests at fair value (shares) \| shares	2,900,000
Cash withholding obligation	$ 172,800
Withholding rate (as a percent)	50.00%
Options outstanding, aggregate intrinsic value	$ 345,600
Proceeds from the exercise of IAC stock options	40,500
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award
Incremental compensation cost									217,700
Incremental compensation cost from modification recognized in year of modification							$ 900	$ 21,100	$ 29,000
Stock Appreciation Rights (SARs) \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award
Grant date fair value of award	$ 5,300
Cash withholding obligation equivalent (shares) \| shares	300,000
Number of shares required to settle vested and unvested interests at fair value (shares) \| shares	200,000
Withholding rate (as a percent)	50.00%
Cash required to settle vested and unvested interests at fair value	$ 2,700
Minimum \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)							3 years
Maximum \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)							5 years
Old IAC Plan
Share-based Compensation Arrangement by Share-based Payment Award
Stated term (in years)							10 years
RSA Agreement \| Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award
Weighted average grant date fair value of restricted common stock granted (USD per share) \| $ / shares			$ 61.06
Grant date fair value of award			$ 183,200
Incremental compensation cost		$ 87,300
Incremental compensation cost from modification recognized in year of modification		$ 10,100
Incremental compensation cost, to be recognized over the remaining vesting period						$ 131,000	$ 131,000
RSA Agreement \| Restricted Stock Awards \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)			10 years
Term of employment agreement and restricted stock agreement (in years)			10 years
Shares authorized for issuance (in shares) \| shares			3,000,000
RSA Agreement \| Minimum \| Restricted Stock Awards \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)			10 years
RSA Agreement \| Maximum \| Restricted Stock Awards \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)			12 years

STOCK-BASED COMPENSATION - Unvested RSUs (Details) - Restricted Stock Units (RSUs) - $ / shares shares in Thousands	5 Months Ended	6 Months Ended	7 Months Ended	12 Months Ended
	May 24, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2021
Number of Shares
Balance at beginning of the period (shares)	1,503		2,039	1,503
Granted (shares)	35		30
Vested (shares)	(176)		(136)
Forfeited (shares)	(5)		(387)
Balance at end of the period (shares)	1,357	1,503	1,546	1,546
Weighted Average Grant Date Fair Value
Balance at beginning of the period (USD per share)	$ 107.62		$ 79.85	$ 107.62
Granted (USD per share)	208.18	$ 128.82	127.77	171.53
Vested (USD per share)	34.71		69.80
Forfeited (USD per share)	144.39		86.47
Balance at end of the period (USD per share)	$ 120.01	$ 107.62	$ 80.38	$ 80.38

STOCK-BASED COMPENSATION - Changes in Outstanding Stock Options (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	5 Months Ended	7 Months Ended	12 Months Ended
	May 24, 2021	Dec. 31, 2021	Dec. 31, 2021
Shares
Balance at beginning of period (shares)	3,909	3,820	3,909
Granted (shares)	0	0
Exercised (shares)	(89)	(924)
Forfeited (shares)	0	0
Expired (shares)	0	0
Balance at end of period (shares)	3,820	2,896	2,896
Weighted Average Exercise Price
Balance at beginning of period (USD per share)	$ 21.08	$ 14.05	$ 21.08
Granted (USD per share)	0	0
Exercised (USD per share)	19.09	14.27
Forfeited (USD per share)	0	0
Expired (USD per share)	0	0
Balance at end of period (USD per share)	$ 21.12	$ 13.98	$ 13.98
Options Additional Disclosures
Remaining term at end of period			3 years 10 months 24 days
Options outstanding, aggregate intrinsic value		$ 338,005	$ 338,005
Options exercisable (shares)		2,896	2,896
Options exercisable (USD per share)		$ 13.98	$ 13.98
Term of options exercisable			3 years 10 months 24 days
Options exercisable, aggregate intrinsic value		$ 338,005	$ 338,005

STOCK-BASED COMPENSATION - Stock Options Outstanding and Exercisable (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2021 $ / shares shares
Options Outstanding
Options outstanding (shares) \| shares	2,896
Weighted- Average Remaining Contractual Life in Years	3 years 10 months 24 days
Weighted-average exercise price (USD per share)	$ 13.98
Options Exercisable
Options exercisable (shares) \| shares	2,896
Weighted- Average Remaining Contractual Life in Years	3 years 10 months 24 days
Weighted-average exercise price (USD per share)	$ 13.98
Less than $10.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise price range, upper limit (USD per share)	$ 10.00
Options Outstanding
Options outstanding (shares) \| shares	567
Weighted- Average Remaining Contractual Life in Years	4 years 1 month 6 days
Weighted-average exercise price (USD per share)	$ 8.57
Options Exercisable
Options exercisable (shares) \| shares	567
Weighted- Average Remaining Contractual Life in Years	4 years 1 month 6 days
Weighted-average exercise price (USD per share)	$ 8.57
$10.01 to $15.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise price range, lower limit (USD per share)	10.01
Exercise price range, upper limit (USD per share)	$ 15.00
Options Outstanding
Options outstanding (shares) \| shares	712
Weighted- Average Remaining Contractual Life in Years	3 years 3 months 18 days
Weighted-average exercise price (USD per share)	$ 13.60
Options Exercisable
Options exercisable (shares) \| shares	712
Weighted- Average Remaining Contractual Life in Years	3 years 3 months 18 days
Weighted-average exercise price (USD per share)	$ 13.60
$15.01 to $20.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise price range, lower limit (USD per share)	15.01
Exercise price range, upper limit (USD per share)	$ 20.00
Options Outstanding
Options outstanding (shares) \| shares	1,613
Weighted- Average Remaining Contractual Life in Years	4 years 1 month 6 days
Weighted-average exercise price (USD per share)	$ 16.04
Options Exercisable
Options exercisable (shares) \| shares	1,613
Weighted- Average Remaining Contractual Life in Years	4 years 1 month 6 days
Weighted-average exercise price (USD per share)	$ 16.04
Greater than $20.01
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise price range, lower limit (USD per share)	$ 20.01
Options Outstanding
Options outstanding (shares) \| shares	4
Weighted- Average Remaining Contractual Life in Years	5 years 7 months 6 days
Weighted-average exercise price (USD per share)	$ 21.17
Options Exercisable
Options exercisable (shares) \| shares	4
Weighted- Average Remaining Contractual Life in Years	5 years 7 months 6 days
Weighted-average exercise price (USD per share)	$ 21.17

SEGMENT INFORMATION - Revenue by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenue	$ 3,699,627	$ 2,764,536	$ 2,509,980
Operating Segments \| Dotdash Meredith
Segment Reporting Information [Line Items]
Revenue	456,273	213,753	167,594
Operating Segments \| Dotdash Meredith \| Digital
Segment Reporting Information [Line Items]
Revenue	367,134	213,753	167,594
Operating Segments \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue	92,002	0	0
Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	1,685,438	1,467,925	1,326,205
Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenue	873,346	613,274	742,184
Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	685,175	469,759	274,107
Inter-segment eliminations
Segment Reporting Information [Line Items]
Revenue	(605)	(175)	(110)
Inter-segment eliminations \| Dotdash Meredith
Segment Reporting Information [Line Items]
Revenue	$ (2,863)	0	0
Inter-segment eliminations \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue		$ 0	$ 0

SEGMENT INFORMATION - Revenue Disaggregated by Service (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenue	$ 3,699,627	$ 2,764,536	$ 2,509,980
Operating Segments \| Dotdash Meredith
Segment Reporting Information [Line Items]
Revenue	456,273	213,753	167,594
Operating Segments \| Dotdash Meredith \| Digital
Segment Reporting Information [Line Items]
Revenue	367,134	213,753	167,594
Operating Segments \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue	92,002	0	0
Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	1,685,438	1,467,925	1,326,205
Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenue	873,346	613,274	742,184
Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	685,175	469,759	274,107
Inter-segment eliminations
Segment Reporting Information [Line Items]
Revenue	(605)	(175)	(110)
Inter-segment eliminations \| Dotdash Meredith
Segment Reporting Information [Line Items]
Revenue	(2,863)	0	0
Inter-segment eliminations \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue		0	0
North America \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	1,602,571	1,395,428	1,249,892
Europe \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	82,867	72,497	76,313
Display advertising \| Operating Segments \| Dotdash Meredith \| Digital
Segment Reporting Information [Line Items]
Revenue	236,660	137,455	126,350
Performance marketing \| Operating Segments \| Dotdash Meredith \| Digital
Segment Reporting Information [Line Items]
Revenue	116,195	76,298	41,244
Performance marketing \| Operating Segments \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue	8,093	0	0
Performance marketing \| Inter-segment eliminations \| Dotdash Meredith \| Digital
Segment Reporting Information [Line Items]
Revenue	(2,800)
Licensing and other \| Operating Segments \| Dotdash Meredith \| Digital
Segment Reporting Information [Line Items]
Revenue	14,279	0	0
Subscription \| Operating Segments \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue	34,634	0	0
Newsstand \| Operating Segments \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue	19,183	0	0
Project and Other Print \| Operating Segments \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue	16,414	0	0
Advertising \| Operating Segments \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue	13,678	0	0
Advertising \| Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenue	859,319	596,363	726,021
Advertising \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	22,028	19,366	27,858
Google advertising \| Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenue	675,892	506,077	678,438
Google advertising \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	2,981	3,130	4,486
Non-Google advertising \| Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenue	183,427	90,286	47,583
Non-Google advertising \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	19,047	16,236	23,372
Ads and Leads \| North America \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	1,244,595	1,232,889	1,198,385
Consumer connection \| North America \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	896,711	899,175	867,307
Consumer connection \| Europe \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	68,686	57,692	59,611
Advertising \| North America \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	252,010	226,505	214,259
Membership subscription \| North America \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	68,062	74,073	92,975
Other \| North America \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	27,812	33,136	23,844
Angi Services \| North America \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	357,976	162,539	51,507
Service professional membership subscription \| Europe \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	12,939	13,091	14,231
Advertising and other \| Europe \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	1,242	1,714	2,471
Other \| Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenue	14,027	16,911	16,163
Subscription \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	367,159	303,482	194,362
Marketplace \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	243,816	138,726	38,950
Media production and distribution \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	44,517	3,585	8,897
Service and other \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	$ 7,655	$ 4,600	$ 4,040

SEGMENT INFORMATION - Revenue and Long-Lived Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue and Long-lived Assets by Geography
Revenue	$ 3,699,627	$ 2,764,536	$ 2,509,980
Long-lived assets (excluding goodwill, intangible assets and ROU assets)	570,525	274,930
United States
Revenue and Long-lived Assets by Geography
Revenue	3,184,653	2,309,504	1,997,662
Long-lived assets (excluding goodwill, intangible assets and ROU assets)	562,628	263,620
All other countries
Revenue and Long-lived Assets by Geography
Revenue	514,974	455,032	$ 512,318
Long-lived assets (excluding goodwill, intangible assets and ROU assets)	$ 7,897	$ 11,310

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SEGMENT INFORMATION - Operating Income (Loss) and Asjusted EBITDA (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Operating Income (Loss)	$ (137,067)	$ (537,663)	$ 5,734
Operating Segments \| Dotdash Meredith
Segment Reporting Information [Line Items]
Operating Income (Loss)	7,176	50,241	29,021
Adjusted EBITDA		66,206	39,601
Operating Segments \| Dotdash Meredith \| Digital
Segment Reporting Information [Line Items]
Operating Income (Loss)	73,980	50,241	29,021
Adjusted EBITDA	91,179	66,206	39,601
Operating Segments \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Operating Income (Loss)	(6,527)
Adjusted EBITDA	2,639	0	0
Operating Segments \| Dotdash Meredith \| Other
Segment Reporting Information [Line Items]
Operating Income (Loss)	(60,277)
Adjusted EBITDA	(60,196)	0	0
Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Operating Income (Loss)	(76,513)	(6,368)	38,645
Adjusted EBITDA	27,865	172,804	202,297
Operating Segments \| Search
Segment Reporting Information [Line Items]
Operating Income (Loss)	108,334	(248,711)	122,347
Adjusted EBITDA	108,381	51,344	124,163
Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Operating Income (Loss)	(22,738)	(70,896)	(21,790)
Adjusted EBITDA	33,383	(37,699)	(28,368)
Corporate
Segment Reporting Information [Line Items]
Operating Income (Loss)	(153,326)	(261,929)	(162,489)
Adjusted EBITDA	$ (95,985)	$ (147,433)	$ (88,465)

SEGMENT INFORMATION - Reconciliation of Adjusted EBITDA to Operating Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	$ (137,067)	$ (537,663)	$ 5,734
Stock-based compensation expense	79,487	188,995	130,228
Depreciation	75,015	68,823	55,471
Amortization of intangibles	74,839	126,839	74,215
Goodwill Impairment	0	265,146	3,318
Interest expense	(34,264)	(16,166)	(11,904)
Unrealized gain on investment in MGM Resorts International	789,283	840,550	0
Other income (expense), net	111,854	(42,561)	40,487
Earnings from continuing operations before income taxes	729,806	244,160	34,317
Income tax (provision) benefit	(138,990)	45,707	47,349
Net earnings from continuing operations	590,816	289,867	81,666
Loss from discontinued operations, net of tax	(1,831)	(21,281)	(49,483)
Net earnings	588,985	268,586	32,183
Net loss (earnings) attributable to noncontrolling interests	8,562	1,140	(9,288)
Net earnings attributable to IAC shareholders	597,547	269,726	22,895
Angi Inc.
Segment Reporting, Other Significant Reconciling Item
Goodwill Impairment		0
Search
Segment Reporting, Other Significant Reconciling Item
Goodwill Impairment		265,146
Emerging & Other
Segment Reporting, Other Significant Reconciling Item
Goodwill Impairment		0
Operating Segments \| Dotdash Meredith
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	7,176	50,241	29,021
Stock-based compensation expense		0	0
Depreciation		1,794	974
Amortization of intangibles		14,171	9,606
Acquisition-related Contingent Consideration Fair Value Arrangements		0	0
Goodwill Impairment		0	0
Adjusted EBITDA		66,206	39,601
Operating Segments \| Dotdash Meredith \| Digital
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	73,980	50,241	29,021
Stock-based compensation expense	1,438
Depreciation	4,257
Amortization of intangibles	11,512
Acquisition-related Contingent Consideration Fair Value Arrangements	(8)
Adjusted EBITDA	91,179	66,206	39,601
Operating Segments \| Dotdash Meredith \| Print
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	(6,527)
Stock-based compensation expense	0
Depreciation	1,827
Amortization of intangibles	7,339
Acquisition-related Contingent Consideration Fair Value Arrangements	0
Adjusted EBITDA	2,639	0	0
Operating Segments \| Dotdash Meredith \| Other
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	(60,277)
Stock-based compensation expense	0
Depreciation	81
Amortization of intangibles	0
Acquisition-related Contingent Consideration Fair Value Arrangements	0
Adjusted EBITDA	(60,196)	0	0
Operating Segments \| Angi Inc.
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	(76,513)	(6,368)	38,645
Stock-based compensation expense	28,702	83,649	68,255
Depreciation	59,246	52,621	39,915
Amortization of intangibles	16,430	42,902	55,482
Acquisition-related Contingent Consideration Fair Value Arrangements	0	0	0
Goodwill Impairment		0	0
Adjusted EBITDA	27,865	172,804	202,297
Operating Segments \| Search
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	108,334	(248,711)	122,347
Stock-based compensation expense	0	0	0
Depreciation	47	2,709	1,816
Amortization of intangibles	0	32,200	0
Acquisition-related Contingent Consideration Fair Value Arrangements	0	0	0
Goodwill Impairment		265,146	0
Adjusted EBITDA	108,381	51,344	124,163
Operating Segments \| Emerging & Other
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	(22,738)	(70,896)	(21,790)
Stock-based compensation expense	101	100	0
Depreciation	1,462	2,449	715
Amortization of intangibles	39,558	37,566	9,127
Acquisition-related Contingent Consideration Fair Value Arrangements	15,000	(6,918)	(19,738)
Goodwill Impairment		0	3,318
Adjusted EBITDA	33,383	(37,699)	(28,368)
Corporate
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	(153,326)	(261,929)	(162,489)
Stock-based compensation expense	49,246	105,246	61,973
Depreciation	8,095	9,250	12,051
Amortization of intangibles	0	0	0
Acquisition-related Contingent Consideration Fair Value Arrangements	0	0	0
Goodwill Impairment		0	0
Adjusted EBITDA	$ (95,985)	$ (147,433)	$ (88,465)

SEGMENT INFORMATION - Capital Expenditures by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Capital expenditures	$ 90,210	$ 60,726	$ 95,097
Operating Segments \| Dotdash Meredith
Segment Reporting Information [Line Items]
Capital expenditures	4,823	5,445	0
Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Capital expenditures	70,215	52,488	68,804
Operating Segments \| Search
Segment Reporting Information [Line Items]
Capital expenditures	178	47	43
Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Capital expenditures	894	1,363	387
Corporate
Segment Reporting Information [Line Items]
Capital expenditures	$ 14,100	$ 1,383	$ 25,863

LEASES - Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 01, 2021	Dec. 31, 2021	Dec. 31, 2020
Assets:
Other non-current assets		$ 498,337	$ 170,153
Liabilities:
Current lease liabilities		63,521	27,143
Long-term lease liabilities		578,272	205,362
Total lease liabilities		$ 641,793	$ 232,505
Increase in ROU assets due to acquisition	$ 358,600
Increase in lease liability due to acquisition	$ 434,800
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]		Other non-current assets	Other non-current assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]		Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]		Other long-term liabilities	Other long-term liabilities

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Lease Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Fixed lease expense	$ 44,010	$ 38,713	$ 26,584
Variable lease expense	9,902	10,562	7,704
Net lease expense	53,912	49,275	34,288
Operating lease impairment charges	10,500	5,800	2,600
Short-term lease cost	1,400	2,500	2,000
Sublease income	6,700	5,300	7,400
Cost of revenue
Lessee, Lease, Description [Line Items]
Fixed lease expense	1,707	2,183	547
Variable lease expense	0	0	83
Selling and marketing expense
Lessee, Lease, Description [Line Items]
Fixed lease expense	9,443	12,591	10,749
Variable lease expense	1,087	2,314	1,573
General and administrative expense
Lessee, Lease, Description [Line Items]
Fixed lease expense	31,104	20,923	13,786
Variable lease expense	8,176	7,314	5,657
Product development expense
Lessee, Lease, Description [Line Items]
Fixed lease expense	1,756	3,016	1,502
Variable lease expense	$ 639	$ 934	$ 391

LEASES - Operating Lease Liabilities Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2022	$ 95,944
2023	95,764
2024	94,183
2025	85,773
2026	81,372
Thereafter	472,535
Total	925,571
Less: Interest	283,778
Present value of lease liabilities	641,793	$ 232,505
Lease payments for leases signed but not yet commenced	$ 1,200

LEASES - Weighted-Average Remaining Term and Discount Rate (Details)	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Remaining lease term (in years)	11 years 9 months 18 days	15 years 6 months
Discount rate (as a percent)	5.54%	5.67%

LEASES - Other Information (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 01, 2021	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Right-of-use assets obtained in exchange for lease liabilities		$ 442,205	$ 80,314
Cash paid for amounts included in the measurement of lease liabilities		44,659	41,377
Lessee, Lease, Description [Line Items]
Right-of-use assets obtained in exchange for lease liabilities		$ 442,205	$ 80,314
Meredith Corporation
Leases [Abstract]
Right-of-use assets obtained in exchange for lease liabilities	$ 437,700
Lessee, Lease, Description [Line Items]
Right-of-use assets obtained in exchange for lease liabilities	$ 437,700

COMMITMENTS AND CONTINGENCIES - Commercial Commitments Outstanding (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Less Than 1 Year	$ 74,897
1-3 Years	16,040
3-5 Years	474
More Than 5 Years	0
Total Amounts Committed	$ 91,411

COMMITMENTS AND CONTINGENCIES - Narrative (Details) $ in Thousands				1 Months Ended	12 Months Ended
	Dec. 01, 2021 USD ($)	Jul. 01, 2020 plaintiff	Aug. 31, 2018 plaintiff	Aug. 31, 2018 USD ($) plaintiff	Dec. 31, 2017 bank	Dec. 31, 2021 USD ($)
Loss Contingencies [Line Items]
Purchase obligations						$ 91,411
Less Than 1 Year						74,897
1-3 Years						16,040
3-5 Years						474
More Than 5 Years						0
Lease Guarantees
Loss Contingencies [Line Items]
Guarantor obligations, maximum obligation						11,100
Other long-term liabilities \| Lease Guarantees
Loss Contingencies [Line Items]
Guarantor obligations carrying value						1,900
Tinder Optionholder Litigation
Loss Contingencies [Line Items]
Number of plaintiffs \| plaintiff		6	6	10
Number of investment banks involved \| bank					2
Number of plaintiffs who filed a notice of discontinuance of their claims without prejudice \| plaintiff		4	4
Litigation settlement, amount	$ 441,000
Tinder Optionholder Litigation \| Pending Litigation \| Minimum
Loss Contingencies [Line Items]
Damages sought				$ 2,000,000
Purchase Commitments - Advertising \| Purchase obligations
Loss Contingencies [Line Items]
Purchase obligations						26,400
Purchase Commitments - Cloud Storage Arrangement \| Purchase obligations
Loss Contingencies [Line Items]
Purchase obligations						9,100
Purchase Commitments - Emails and Productivity Tools \| Purchase obligations
Loss Contingencies [Line Items]
Purchase obligations						7,100
Purchase Commitments - Communication Spend \| Purchase obligations
Loss Contingencies [Line Items]
Purchase obligations						6,100
Purchase Commitments - Research Tools \| Purchase obligations
Loss Contingencies [Line Items]
Purchase obligations						4,200
Purchase Commitments - Background Check Services \| Purchase obligations
Loss Contingencies [Line Items]
Purchase obligations						$ 3,100

RELATED PARTY TRANSACTIONS - Narrative (Details)		3 Months Ended	4 Months Ended	6 Months Ended	7 Months Ended	12 Months Ended
RELATED PARTY TRANSACTIONS - Narrative (Details)	Jan. 31, 2020 building	Sep. 30, 2021 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2020 USD ($) shares	Dec. 31, 2021 USD ($)	Dec. 31, 2021 USD ($) plane shares	Dec. 31, 2020 shares	Dec. 31, 2019 USD ($) shares	Mar. 31, 2020 USD ($)
Old IAC
Related Party Transaction [Line Items]
Allocated costs from related party				$ 85,500,000				$ 146,000,000
Interest income from related party				100,000				400,000
Notes receivable from related parties								55,300,000	$ 27,200,000
Expenses from transactions with related party				12,652,000				80,143,000
Old MTCH \| Sublease Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party				1,400,000				5,800,000
Old MTCH \| Sold Office Space
Related Party Transaction [Line Items]
Expenses from transactions with related party				$ 100,000
Number of office buildings transferred to related party \| building	2
Mr. Diller
Related Party Transaction [Line Items]
Voting interests					0.10	0.10
Vimeo \| Tax Sharing Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party					$ 0
Due from (to) related party					0	$ 0
Vimeo \| Transition Services Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party			$ 900,000
Due from (to) related party					0	0
Vimeo \| Employee Benefit Plans Participation
Related Party Transaction [Line Items]
Due from related party					6,400,000	6,400,000
Vimeo \| Lease Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party			$ 2,600,000
Due from related party					$ 0	$ 0
Expedia \| Corporate Aircraft Purchase Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party		$ 12,700,000						23,000,000
Proportion of ownership interest held each by entity and by related party in aircraft employing flight crew (as a percent)					50.00%	50.00%
Number of aircraft operated \| plane						3
Expected costs from transactions with related party								$ 71,400,000
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%
Class B Common Stock \| Angi, Inc. \| Employee Matters Agreement
Related Party Transaction [Line Items]
Stock received from related party (shares) \| shares						200,000	300,000	500,000
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. \| Employee Matters Agreement
Related Party Transaction [Line Items]
Stock received from related party (shares) \| shares						2,600,000	0	0

RELATED PARTY TRANSACTIONS - Components of Net Increase (Decrease) in IAC Investment in IAC Holdings (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Taxes		$ (138,990)	$ 45,707	$ 47,349
Old IAC
Related Party Transaction [Line Items]
Cash transfers from Old IAC related to its centrally managed U.S. treasury management function, acquisitions and cash expenses paid by Old IAC on behalf of the Company, net	$ (1,742,854)			(182,382)
Contribution of buildings to Match Group	34,973			0
Taxes	34,436			(1,874)
Allocation of costs from Old IAC	(12,652)			(80,143)
Interest income, net	102			420
Net increase in Old IAC's investment in the Company prior to the MTCH Separation	$ (1,685,995)			$ (263,979)

- Definition

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

+ References + Details

PENSION AND POSTRETIREMENT BENEFIT PLANS - Changes in Benefit Obligation and Changes in Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
United States
Change in plan assets
Fair value of plan assets, end of year	$ 132,326
International
Change in plan assets
Fair value of plan assets, end of year	1,015,274
Pension \| United States
Change in benefit obligation
Benefit obligation, beginning of year	0
Acquisitions	154,920
Service cost	368
Interest cost	224
Net actuarial gain	(158)
Benefits paid (including lump sums)	(339)
Settlements	0
Contractual termination benefits	11,785
Foreign currency exchange rate impact	0
Benefit obligation, end of year	166,800	$ 0
Change in plan assets
Fair value of plan assets, beginning of year	0
Acquisitions	129,765
Actual return on plan assets	2,886
Employer contributions	14
Benefits paid (including lump sums)	(339)
Settlements	0
Foreign currency exchange rate impact	0
Fair value of plan assets, end of year	132,326	0
(Under) over funded status, end of year	(34,474)
Pension \| International
Change in benefit obligation
Benefit obligation, beginning of year	0
Acquisitions	850,774
Service cost	0
Interest cost	981
Net actuarial gain	(54,660)
Benefits paid (including lump sums)	(1,529)
Settlements	(9,361)
Contractual termination benefits	0
Foreign currency exchange rate impact	4,458
Benefit obligation, end of year	790,663	0
Change in plan assets
Fair value of plan assets, beginning of year	0
Acquisitions		1,053,902
Actual return on plan assets	(62,744)
Employer contributions	29,229
Benefits paid (including lump sums)	(1,529)
Settlements	(9,361)
Foreign currency exchange rate impact	5,777
Fair value of plan assets, end of year	1,015,274	0
(Under) over funded status, end of year	224,611
Postretirement \| United States
Change in benefit obligation
Benefit obligation, beginning of year	0
Acquisitions	10,923
Service cost	1
Interest cost	22
Net actuarial gain	(132)
Benefits paid (including lump sums)	(6)
Settlements	0
Contractual termination benefits	0
Foreign currency exchange rate impact	0
Benefit obligation, end of year	10,808	0
Change in plan assets
Fair value of plan assets, beginning of year	0
Acquisitions			$ 0
Actual return on plan assets	0
Employer contributions	6
Benefits paid (including lump sums)	(6)
Settlements	0
Foreign currency exchange rate impact	0
Fair value of plan assets, end of year	0	$ 0
(Under) over funded status, end of year	$ (10,808)

PENSION AND POSTRETIREMENT BENEFIT PLANS - Amount Recognized in the Balance Sheet (Details) $ in Thousands	Dec. 31, 2021 USD ($)
United States \| Pension
Defined Benefit Plan Disclosure [Line Items]
Other non-current assets	$ 24,318
Accrued expenses and other current liabilities	(52,523)
Other long-term liabilities	(6,269)
Net amount recognized	(34,474)
United States \| Postretirement
Defined Benefit Plan Disclosure [Line Items]
Other non-current assets	0
Accrued expenses and other current liabilities	(1,146)
Other long-term liabilities	(9,662)
Net amount recognized	(10,808)
International \| Pension
Defined Benefit Plan Disclosure [Line Items]
Other non-current assets	231,791
Accrued expenses and other current liabilities	0
Other long-term liabilities	(7,180)
Net amount recognized	$ 224,611

- Definition

Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans.

+ References + Details

PENSION AND POSTRETIREMENT BENEFIT PLANS - Narrative (Details) £ in Millions	6 Months Ended	12 Months Ended			30 Months Ended
	Jun. 30, 2019	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 GBP (£)	Dec. 31, 2021 GBP (£)
Defined Benefit Plan and Defined Contribution Plan Disclosures
Defined benefit plan, insurance buy-in contract, percent of employees covered			0.30
Forecast
Defined Benefit Plan and Defined Contribution Plan Disclosures
Total required contributions \| £						£ 22.0
Postretirement
Defined Benefit Plan and Defined Contribution Plan Disclosures
Expected contribution next fiscal year		$ 1,200,000			$ 1,200,000
IPC Plan \| Pension
Defined Benefit Plan and Defined Contribution Plan Disclosures
Defined benefit plan, required monthly contributions \| £							£ 0.9
IAC/InterActiveCorp Retirement Savings Plan
Defined Benefit Plan and Defined Contribution Plan Disclosures
Employee contribution limit per calendar year (up to) (as a percent of pre-tax earnings)		50.00%
Employer contribution per dollar employee contributes up to contribution limit	50.00%				100.00%
Employer contribution limit per calendar year (as a percent of compensation)	6.00%				10.00%
Meredith Savings and investment Plan
Defined Benefit Plan and Defined Contribution Plan Disclosures
Defined contribution plan contributions		$ 800,000
Meredith Savings and investment Plan \| Eligible Employees \| First Contribution
Defined Benefit Plan and Defined Contribution Plan Disclosures
Employer contribution per dollar employee contributes up to contribution limit		100.00%
Employer contribution limit per calendar year (as a percent of compensation)		4.00%
Meredith Savings and investment Plan \| Eligible Employees \| Second Contribution
Defined Benefit Plan and Defined Contribution Plan Disclosures
Employer contribution per dollar employee contributes up to contribution limit		50.00%
Employer contribution limit per calendar year (as a percent of compensation)		1.00%
Meredith Savings and investment Plan \| Ineligible Employees
Defined Benefit Plan and Defined Contribution Plan Disclosures
Employer contribution per dollar employee contributes up to contribution limit		100.00%
Employer contribution limit per calendar year (as a percent of compensation)		5.00%
United States
Defined Benefit Plan and Defined Contribution Plan Disclosures
Defined benefit plan, accumulated benefit obligation		$ 159,200,000			$ 159,200,000
United States \| Pension
Defined Benefit Plan and Defined Contribution Plan Disclosures
Net periodic benefit costs (credit)		9,333,000
United States \| Postretirement
Defined Benefit Plan and Defined Contribution Plan Disclosures
Net periodic benefit costs (credit)		(109,000)
United States \| IAC/InterActiveCorp Retirement Savings Plan
Defined Benefit Plan and Defined Contribution Plan Disclosures
Employer contribution limit per calendar year, amount		10,000
Defined contribution plan contributions		22,000,000	$ 16,900,000	$ 13,100,000
International
Defined Benefit Plan and Defined Contribution Plan Disclosures
Defined benefit plan, accumulated benefit obligation		790,700,000			$ 790,700,000
International \| Pension
Defined Benefit Plan and Defined Contribution Plan Disclosures
Net periodic benefit costs (credit)		9,065,000
International \| IAC/InterActiveCorp Retirement Savings Plan
Defined Benefit Plan and Defined Contribution Plan Disclosures
Defined contribution plan contributions		$ 900,000	$ 700,000	$ 700,000

PENSION AND POSTRETIREMENT BENEFIT PLANS - Pension Plans with Projected Benefit Obligations and Accumulated Benefit Obligations in Excess of Plan Assets (Details) $ in Thousands	Dec. 31, 2021 USD ($)
United States
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 58,789
Accumulated benefit obligation	57,669
Fair value of plan assets	0
International
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	7,179
Accumulated benefit obligation	7,179
Fair value of plan assets	$ 0

PENSION AND POSTRETIREMENT BENEFIT PLANS - Net Periodic Benefit Costs (Credit) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
United States \| Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 368
Interest cost	224
Expected return on plan assets	(564)
Actuarial (gain) loss amortization	(2,480)
Contractual termination benefits	11,785
Net periodic benefit costs (credit)	9,333
United States \| Postretirement
Defined Benefit Plan Disclosure [Line Items]
Service cost	1
Interest cost	22
Expected return on plan assets	0
Actuarial (gain) loss amortization	(132)
Contractual termination benefits	0
Net periodic benefit costs (credit)	(109)
International \| Pension
Defined Benefit Plan Disclosure [Line Items]
Service cost	0
Interest cost	981
Expected return on plan assets	(1,640)
Actuarial (gain) loss amortization	9,724
Contractual termination benefits	0
Net periodic benefit costs (credit)	$ 9,065

PENSION AND POSTRETIREMENT BENEFIT PLANS - Weighted Average Assumptions Used (Details)	12 Months Ended
	Dec. 31, 2021
Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost
Cash balance interest rate credit	2.04%
United States \| Pension
Weighted Average Assumptions Used in Calculating Benefit Obligation
Discount rate	2.04%
Rate of compensation increase	2.95%
Cash balance interest rate credit	2.13%
Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost
Discount rate	2.02%
Expected return on plan assets	6.00%
Rate of compensation increase	2.90%
United States \| Postretirement
Weighted Average Assumptions Used in Calculating Benefit Obligation
Discount rate	2.61%
Rate of compensation increase	3.50%
Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost
Discount rate	2.52%
Rate of compensation increase	3.50%
Assumed healthcare cost trend rate
Initial level	6.50%
Ultimate level	5.00%
Years to ultimate level	6 years
International \| Pension
Weighted Average Assumptions Used in Calculating Benefit Obligation
Discount rate	1.67%
Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost
Discount rate	1.40%
Expected return on plan assets	1.90%

PENSION AND POSTRETIREMENT BENEFIT PLANS - Plan Assets Allocations (Details)	Dec. 31, 2021
United States
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Target	100.00%
Actual	100.00%
United States \| Equity
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Target	62.00%
Actual	63.00%
United States \| Fixed income
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Target	38.00%
Actual	36.00%
United States \| Other
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Target	0.00%
Actual	1.00%
International
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Target	100.00%
Actual	100.00%
International \| Equity
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Target	1.00%
Actual	2.00%
International \| Fixed income
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Target	63.00%
Actual	63.00%
International \| Other
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Target	36.00%
Actual	35.00%

PENSION AND POSTRETIREMENT BENEFIT PLANS - Level 3 Reconciliation of Plan Assets (Details) - Significant Unobservable Inputs (Level 3) - Fair Value, Recurring $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets, beginning of year	$ 0
Acquisitions	327,722
Settlements	(1,040)
Change in fair value	(15,326)
Foreign currency exchange rate impact	1,739
Fair value of plan assets, end of year	$ 313,095

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

PENSION AND POSTRETIREMENT BENEFIT PLANS - Expected Future Benefit Payment (Details) $ in Thousands	Dec. 31, 2021 USD ($)
United States \| Pension
Defined Benefit Plan Disclosure [Line Items]
2022	$ 90,676
2023	7,119
2024	7,312
2025	8,362
2026	7,117
Thereafter	34,356
Net amount recognized, end of year	154,942
United States \| Postretirement
Defined Benefit Plan Disclosure [Line Items]
2022	1,161
2023	1,058
2024	988
2025	920
2026	827
Thereafter	3,258
Net amount recognized, end of year	8,212
International \| Pension
Defined Benefit Plan Disclosure [Line Items]
2022	18,775
2023	18,503
2024	20,369
2025	21,021
2026	21,909
Thereafter	125,118
Net amount recognized, end of year	$ 225,695

FINANCIAL STATEMENT DETAILS - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 2,118,730	$ 3,366,176	$ 837,916	$ 883,991
Restricted cash included in other current assets	1,941	448	503	1,417
Restricted cash included in other non-current assets	1,193	449	409	420
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	0	110,037	1,904	1,008
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$ 2,121,864	$ 3,477,110	$ 840,732	$ 886,836

FINANCIAL STATEMENT DETAILS - Changes in the Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1	$ 27,178	$ 19,984
Current period provision for credit losses	89,893	78,931
Write-offs charged against the allowance	(82,875)	(74,170)
Recoveries collected	2,441	2,433
Balance at December 31	36,637	27,178
Revenue reserve	3,100	2,100
Allowance for credit loss, current and revenue reserve	$ 39,700	$ 29,200

FINANCIAL STATEMENT DETAILS - Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 73,483	$ 46,096
Inventories, net	30,710	317
Other	137,995	93,609
Other current assets	242,188	140,022
Raw materials	17,000
Work in process	11,100
Finished goods	$ 2,400	$ 300

FINANCIAL STATEMENT DETAILS - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Buildings, capitalized software, leasehold improvements, equipment and land	$ 1,067,412	$ 482,331
Accumulated depreciation and amortization	(496,887)	(207,401)
Buildings, capitalized software, leasehold improvements, equipment and land, net	570,525	274,930
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Buildings, capitalized software, leasehold improvements, equipment and land	418,249	195,502
Capitalized software and computer equipment
Property, Plant and Equipment [Line Items]
Buildings, capitalized software, leasehold improvements, equipment and land	386,421	149,693
Furniture and other equipment
Property, Plant and Equipment [Line Items]
Buildings, capitalized software, leasehold improvements, equipment and land	181,605	83,501
Land
Property, Plant and Equipment [Line Items]
Buildings, capitalized software, leasehold improvements, equipment and land	33,919	0
Projects in progress
Property, Plant and Equipment [Line Items]
Buildings, capitalized software, leasehold improvements, equipment and land	$ 47,218	$ 53,635

FINANCIAL STATEMENT DETAILS - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued employee compensation and benefits	$ 277,594	$ 107,280
Customer deposit liability	146,282	0
Accrued advertising expense	67,986	56,286
Accrued traffic acquisition costs	77,913	38,710
Other	410,799	138,130
Accrued expenses and other current liabilities	$ 980,574	$ 340,406

FINANCIAL STATEMENT DETAILS - Other Income (Expense), Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unrealized increase (decrease) in the estimated fair value of a warrant				$ 104,018	$ (1,213)	$ (9,123)
Unrealized gain related to an investment following its initial public offering				18,788	0	0
Upward adjustments to the carrying value of equity securities without readily determinable fair values				8,892	0	18,505
Realized gain on the sale of a marketable equity security			$ 7,200	7,174	0	20,486
Realized gains related to the sale of investments				5,773	10,373	330
Realized gains related to the sale of business				4,209	1,061	0
Interest income				1,351	7,177	15,159
Net periodic pension benefit costs, other than the service cost component				(17,858)	0	0
Foreign exchange (losses) gains, net				(13,636)	674	117
Loss on the extinguishment of debt				(1,110)	0	0
Impairments related to COVID-19				0	(59,001)	0
Other				(5,747)	(1,632)	(4,987)
Other income (expense), net				$ 111,854	(42,561)	$ 40,487
Foreign exchange losses due to substantial liquidation of certain foreign subsidiaries	$ 10,000
Impairment of equity securities without readily determinable fair value		$ 51,500			51,500
Impairment of note receivable and warrant		$ 7,500			$ 7,500

FINANCIAL STATEMENT DETAILS - Supplemental Disclosure of Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash paid (received) during the year for:
Interest	$ 21,702	$ 6,524	$ 10,042
Income tax payments	9,880	5,974	4,797
Income tax refunds	$ (1,762)	$ (2,010)	$ (3,048)

SUBSEQUENT EVENT (Details) - USD ($) shares in Millions, $ in Millions		6 Months Ended
	Feb. 16, 2022	Sep. 30, 2020
MGM
Subsequent Event [Line Items]
Number of equity securities purchased (in shares)		59.0
Subsequent Event \| MGM
Subsequent Event [Line Items]
Ownership interest (as a percent)	14.40%
Subsequent Event \| MGM
Subsequent Event [Line Items]
Number of equity securities purchased (in shares)	4.5
Payments to acquire additional MGM shares	$ 202.5
Number of equity securities held	63.5

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance for credit losses
Movement in Valuation Allowances and Reserves
Balance at beginning of period	$ 27,178	$ 19,984	$ 16,164
Charges to Earnings	89,893	78,931	64,478
Charges to Other Accounts	123	(152)	(45)
Deductions	(80,557)	(71,585)	(60,613)
Balance at end of period	36,637	27,178	19,984
Revenue reserves
Movement in Valuation Allowances and Reserves
Balance at beginning of period	2,062	3,891	1,792
Charges to Earnings	122,877	110,796	114,005
Charges to Other Accounts	0	0	(2)
Deductions	(121,857)	(112,625)	(111,904)
Balance at end of period	3,082	2,062	3,891
Deferred tax valuation allowance
Movement in Valuation Allowances and Reserves
Balance at beginning of period	111,691	91,180	86,778
Charges to Earnings	(1,620)	11,443	6,006
Charges to Other Accounts	2,569	9,068	(1,604)
Deductions	0	0	0
Balance at end of period	112,640	111,691	91,180
Other reserves
Movement in Valuation Allowances and Reserves
Balance at beginning of period	8,054	5,057	3,919
Balance at end of period	$ 13,220	$ 8,054	$ 5,057

PENSION AND POSTRETIREMENT BENEFIT PLANS - Fair Value of Plan Assets (Details) $ in Thousands	Dec. 31, 2021 USD ($)
United States
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	$ 132,326
United States \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	73,424
United States \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	58,902
United States \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	0
International
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	1,015,274
International \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	70,675
International \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	631,504
International \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	313,095
Cash and cash equivalents \| International
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	63,245
Cash and cash equivalents \| International \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	63,245
Cash and cash equivalents \| International \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	0
Cash and cash equivalents \| International \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	0
Equity \| United States
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	83,848
Equity \| United States \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	65,982
Equity \| United States \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	17,866
Equity \| United States \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	0
Equity \| International
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	10,882
Equity \| International \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	1,154
Equity \| International \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	9,728
Equity \| International \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	0
Fixed income \| United States
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	46,590
Fixed income \| United States \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	7,442
Fixed income \| United States \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	39,148
Fixed income \| United States \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	0
Fixed income \| International
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	51,638
Fixed income \| International \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	6,276
Fixed income \| International \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	45,362
Fixed income \| International \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	0
Other \| International
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	576,414
Other \| International \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	0
Other \| International \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	576,414
Other \| International \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	0
Pooled separate accounts \| United States
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	1,888
Pooled separate accounts \| United States \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	0
Pooled separate accounts \| United States \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	1,888
Pooled separate accounts \| United States \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	0
Insurance buy-in contract \| International
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	313,095
Insurance buy-in contract \| International \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	0
Insurance buy-in contract \| International \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	0
Insurance buy-in contract \| International \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Category [Line Items]
Total assets at fair value	$ 313,095