0001800227-22-000038 | 10-Q | XBRL Viewer

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Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2022	Nov. 04, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-39356
Entity Registrant Name	IAC INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-3727412
Entity Address, Address Line One	555 West 18th Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10011
City Area Code	212
Local Phone Number	314-7300
Title of 12(b) Security	Common stock, par value $0.0001
Trading Symbol	IAC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001800227
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		83,066,878
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		5,789,499

CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 1,607,384	$ 2,118,730
Marketable securities	16,343	19,788
Accounts receivable, net of reserves	587,567	693,208
Other current assets	269,869	242,188
Total current assets	2,481,163	3,073,914
Capitalized software, equipment, buildings, leasehold improvements and land, net	583,888	570,525
Goodwill	3,008,244	3,226,610
Intangible assets, net of accumulated amortization	1,282,503	1,414,892
Investment in MGM Resorts International	1,923,585	2,649,442
Long-term investments	311,291	327,838
Other non-current assets	850,899	1,037,067
TOTAL ASSETS	10,441,573	12,300,288
LIABILITIES:
Current portion of long-term debt	30,000	30,000
Accounts payable, trade	158,110	203,173
Deferred revenue	158,767	165,451
Accrued expenses and other current liabilities	738,371	980,574
Total current liabilities	1,085,248	1,379,198
Long-term debt, net	2,026,404	2,046,237
Deferred income taxes	108,638	385,890
Other long-term liabilities	650,795	721,262
Redeemable noncontrolling interests	32,385	18,741
Commitments and contingencies
SHAREHOLDERS' EQUITY:
Additional paid-in-capital	6,282,690	6,265,669
(Accumulated deficit) retained earnings	(263,600)	905,151
Accumulated other comprehensive (loss) income	(29,960)	4,397
Treasury stock, 1,101 shares at September 30, 2022	(85,323)	0
Total IAC shareholders' equity	5,903,816	7,175,226
Noncontrolling interests	634,287	573,734
Total shareholders' equity	6,538,103	7,748,960
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	10,441,573	12,300,288
Common Stock, $0.0001 par value; authorized 1,600,000 shares; 84,155 and 83,922 shares issued and 83,054 and 83,922 shares outstanding at September 30, 2022 and December 31, 2021, respectively
SHAREHOLDERS' EQUITY:
Common stock, value	8	8
Class B common stock, $0.0001 par value; authorized 400,000 shares; 5,789 shares issued and outstanding at September 30, 2022 and December 31, 2021
SHAREHOLDERS' EQUITY:
Common stock, value	$ 1	$ 1

CONSOLIDATED BALANCE SHEET (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Treasury stock (in shares)	1,101,000
Common Stock, $0.0001 par value; authorized 1,600,000 shares; 84,155 and 83,922 shares issued and 83,054 and 83,922 shares outstanding at September 30, 2022 and December 31, 2021, respectively
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001
Common stock authorized (in shares)	1,600,000,000	1,600,000,000
Common stock issued (in shares)	84,155,000	83,922,000
Common stock outstanding (in shares)	83,054,000	83,922,000
Class B common stock, $0.0001 par value; authorized 400,000 shares; 5,789 shares issued and outstanding at September 30, 2022 and December 31, 2021
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001
Common stock authorized (in shares)	400,000,000	400,000,000
Common stock issued (in shares)	5,789,000	5,789,000
Common stock outstanding (in shares)	5,789,000	5,789,000

CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue	$ 1,300,901	$ 924,068	$ 3,988,827	$ 2,540,185
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	453,513	340,510	1,499,968	828,744
Selling and marketing expense	489,573	348,187	1,490,947	1,001,760
General and administrative expense	260,073	183,299	750,746	521,170
Product development expense	74,078	52,277	239,149	157,593
Depreciation	27,567	17,795	86,855	54,093
Amortization of intangibles	120,777	14,067	234,048	44,542
Goodwill impairment	0	0	86,748	0
Total operating costs and expenses	1,425,581	956,135	4,388,461	2,607,902
Operating loss	(124,680)	(32,067)	(399,634)	(67,717)
Interest expense	(29,433)	(6,032)	(74,862)	(18,463)
Unrealized gain (loss) on investment in MGM Resorts International	42,523	29,517	(970,112)	687,155
Other income (expense), net	19,678	79,539	(63,048)	133,388
(Loss) earnings from continuing operations before income taxes	(91,912)	70,957	(1,507,656)	734,363
Income tax benefit (provision)	26,065	(9,910)	325,517	(151,046)
Net (loss) earnings from continuing operations	(65,847)	61,047	(1,182,139)	583,317
Loss from discontinued operations, net of tax	0	0	0	(1,831)
Net (loss) earnings	(65,847)	61,047	(1,182,139)	581,486
Net loss (earnings) attributable to noncontrolling interests	2,024	(357)	13,388	3,089
Net (loss) earnings attributable to IAC shareholders	$ (63,823)	$ 60,690	$ (1,168,751)	$ 584,575
Per share information from continuing operations:
Basic (loss) earnings per share (USD per share)	$ (0.74)	$ 0.68	$ (13.51)	$ 6.58
Diluted (loss) earnings per share (USD per share)	(0.74)	0.65	(13.51)	6.16
Per share information attributable to IAC Common Stock and Class B common stock shareholders:
Basic (loss) earnings per share (USD per share)	(0.74)	0.68	(13.51)	6.56
Diluted (loss) earnings per share (USD per share)	$ (0.74)	$ 0.65	$ (13.51)	$ 6.14
Stock-based compensation expense by function:
Stock-based compensation expense	$ 31,117	$ 15,438	$ 92,460	$ 57,804
Cost of revenue
Stock-based compensation expense by function:
Stock-based compensation expense	1,071	18	2,109	52
Selling and marketing expense
Stock-based compensation expense by function:
Stock-based compensation expense	2,315	1,449	6,264	3,766
General and administrative expense
Stock-based compensation expense by function:
Stock-based compensation expense	24,860	11,762	74,791	48,695
Product development expense
Stock-based compensation expense by function:
Stock-based compensation expense	$ 2,871	$ 2,209	$ 9,296	$ 5,291

CONSOLIDATED STATEMENT OF COMPREHENSIVE OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) earnings	$ (65,847)	$ 61,047	$ (1,182,139)	$ 581,486
Other comprehensive (loss) income, net of income taxes:
Change in foreign currency translation adjustment	(18,173)	(1,560)	(36,266)	11,260
Change in unrealized gains and losses on available-for-sale marketable debt securities	0	0	0	(2)
Total other comprehensive (loss) income, net of income taxes	(18,173)	(1,560)	(36,266)	11,258
Comprehensive (loss) income, net of income taxes	(84,020)	59,487	(1,218,405)	592,744
Components of comprehensive loss (income) attributable to noncontrolling interests:
Net loss (earnings) attributable to noncontrolling interests	2,024	(357)	13,388	3,089
Change in foreign currency translation adjustment attributable to noncontrolling interests	1,061	477	1,904	(474)
Comprehensive loss attributable to noncontrolling interests	3,085	120	15,292	2,615
Comprehensive (loss) income attributable to IAC shareholders	$ (80,935)	$ 59,607	$ (1,203,113)	$ 595,359

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Angi Inc.	IAC	Vivian Health	Vimeo	Redeemable Noncontrolling Interests	Redeemable Noncontrolling Interests Vivian Health	Redeemable Noncontrolling Interests Vimeo	Total IAC Shareholders' Equity	Total IAC Shareholders' Equity Angi Inc.	Total IAC Shareholders' Equity IAC	Total IAC Shareholders' Equity Vivian Health	Total IAC Shareholders' Equity Vimeo	Common Stock Common Stock, $0.0001 par value	Common Stock Class B common stock, $0.0001 par value	Common Stock Common Stock, $0.001 par value	Common Stock Class B common stock, $0.001 par value	Additional Paid-in-Capital	Additional Paid-in-Capital Angi Inc.	Additional Paid-in-Capital Vivian Health	Additional Paid-in-Capital Vimeo	(Accumulated Deficit) Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Accumulated Other Comprehensive (Loss) Income Angi Inc.	Treasury Stock	Treasury Stock IAC	Noncontrolling Interests	Noncontrolling Interests Angi Inc.
Balance at beginning of period at Dec. 31, 2020						$ 231,992
Increase (Decrease) in Redeemable Noncontrolling Interests
Net earnings (loss)						3,487
Other comprehensive income (loss), net of income taxes						515
Issuance, creation of noncontrolling interest								$ 40,785
Distribution to and purchase of noncontrolling interests						(24,085)
Adjustment of noncontrolling interests to fair value						777,592
Elimination of Vimeo noncontrolling interest						(1,002,324)
Other						(1,878)
Balance at end of period at Sep. 30, 2021						26,084
Balance at beginning of period at Dec. 31, 2020	$ 7,150,928								$ 6,597,575					$ 0	$ 0	$ 83	$ 6	$ 5,909,614				$ 694,042	$ (6,170)				$ 553,353
Balance at beginning of period (shares) at Dec. 31, 2020														0	0	82,976	5,789
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	577,999								584,575													584,575					(6,576)
Other comprehensive income (loss), net of income taxes	10,705								10,746														10,746				(41)
Stock-based compensation expense	68,750								45,914									45,914									22,836
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(37,866)	$ (55,807)							(37,866)	$ (53,353)								(37,866)	$ (53,366)					$ 13				$ (2,454)
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (shares)														160		382
Purchase of Angi Inc. treasury stock		(35,403)								(35,403)									(35,403)
Adjustment of noncontrolling interests to fair value	(777,592)								(777,592)									(777,592)
Issuance, creation of noncontrolling interest					$ 258,965								$ 258,965								$ 258,965
Distribution to and purchase of noncontrolling interests	(570)																										(570)
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 interest	1,002,324								1,002,324									1,002,324
Other	148								(262)									(262)									410
Balance at end of period at Sep. 30, 2021	7,776,143								7,209,185					$ 8	$ 1	$ 0	$ 0	6,312,370				892,179	4,627				566,958
Balance at end of period (shares) at Sep. 30, 2021														83,518	5,789	0	0
Balance at beginning of period at Jun. 30, 2021						24,193
Increase (Decrease) in Redeemable Noncontrolling Interests
Net earnings (loss)						2,778
Other comprehensive income (loss), net of income taxes						(74)
Adjustment of noncontrolling interests to fair value						1,061
Other						(1,874)
Balance at end of period at Sep. 30, 2021						26,084
Balance at beginning of period at Jun. 30, 2021	7,745,148								7,178,851					$ 8	$ 1	$ 0	$ 0	6,341,667				831,489	5,686				566,297
Balance at beginning of period (shares) at Jun. 30, 2021														83,444	5,789	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	58,269								60,690													60,690					(2,421)
Other comprehensive income (loss), net of income taxes	(1,486)								(1,083)														(1,083)				(403)
Stock-based compensation expense	15,442								6,626									6,626									8,816
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(8,792)	(1,066)							(8,792)	4,105								(8,792)	4,081					24				(5,171)
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (shares)														74
Purchase of Angi Inc. treasury stock		(29,766)								(29,766)									(29,766)
Adjustment of noncontrolling interests to fair value	(1,061)								(1,061)									(1,061)
Distribution to and purchase of noncontrolling interests	(570)																										(570)
Other	25								(385)									(385)									410
Balance at end of period at Sep. 30, 2021	7,776,143								7,209,185					$ 8	$ 1	$ 0	$ 0	6,312,370				892,179	4,627				566,958
Balance at end of period (shares) at Sep. 30, 2021														83,518	5,789	0	0
Balance at beginning of period at Dec. 31, 2021	18,741					18,741
Increase (Decrease) in Redeemable Noncontrolling Interests
Net earnings (loss)						(1,647)
Issuance, creation of noncontrolling interest							$ (11,782)
Distribution to and purchase of noncontrolling interests						(1,179)
Adjustment of noncontrolling interests to fair value						28,897
Other						(645)
Balance at end of period at Sep. 30, 2022	32,385					32,385
Balance at beginning of period at Dec. 31, 2021	7,748,960								7,175,226					$ 8	$ 1	$ 0	$ 0	6,265,669				905,151	4,397		$ 0		573,734
Balance at beginning of period (shares) at Dec. 31, 2021														83,922	5,789	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(1,180,492)								(1,168,751)													(1,168,751)					(11,741)
Other comprehensive income (loss), net of income taxes	(36,266)								(34,362)														(34,362)				(1,904)
Stock-based compensation expense	94,653								53,682									53,682									40,971
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(15,965)	(6,043)							(15,965)	(7,787)								(15,965)	(7,792)					5				1,744
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (shares)														233
Purchase of Angi Inc. treasury stock		(8,144)	$ (85,323)							(8,144)	$ (85,323)								(8,144)							$ (85,323)
Adjustment of noncontrolling interests to fair value	(28,897)								(28,897)									(28,897)
Issuance, creation of noncontrolling interest				$ 54,700								$ 15,380								$ 15,380							39,320
Adjustment to noncontrolling interests resulting from the reorganization of a foreign subsidiary	0								7,835																		(7,835)
Other	920								922									922									(2)
Balance at end of period at Sep. 30, 2022	6,538,103								5,903,816					$ 8	$ 1	$ 0	$ 0	6,282,690				(263,600)	(29,960)		(85,323)		634,287
Balance at end of period (shares) at Sep. 30, 2022														84,155	5,789	0	0
Balance at beginning of period at Jun. 30, 2022						27,408
Increase (Decrease) in Redeemable Noncontrolling Interests
Net earnings (loss)						740
Adjustment of noncontrolling interests to fair value						4,856
Other						(619)
Balance at end of period at Sep. 30, 2022	32,385					$ 32,385
Balance at beginning of period at Jun. 30, 2022	6,625,163								5,990,230					$ 8	$ 1	$ 0	$ 0	6,261,929				(199,777)	(12,852)		(59,079)		634,933
Balance at beginning of period (shares) at Jun. 30, 2022														84,132	5,789	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(66,587)								(63,823)													(63,823)					(2,764)
Other comprehensive income (loss), net of income taxes	(18,173)								(17,112)														(17,112)				(1,061)
Stock-based compensation expense	32,045								18,741									18,741									13,304
Issuance of common stock pursuant to stock-based awards, net of withholding taxes	(1,155)	$ (2,120)							(1,155)	$ (3,686)								(1,155)	$ (3,690)					$ 4				$ 1,566
Issuance of common stock pursuant to stock-based awards, net of withholding taxes (shares)														23
Purchase of Angi Inc. treasury stock			$ (26,244)								$ (26,244)															$ (26,244)
Adjustment of noncontrolling interests to fair value	(4,856)								(4,856)									(4,856)
Adjustment to Vivian Health preferred shares to liquidation value				$ 0								$ 3,854								$ 3,854							(3,854)
Adjustment to noncontrolling interests resulting from the reorganization of a foreign subsidiary	0								7,835									7,835									(7,835)
Other	30								32									32									(2)
Balance at end of period at Sep. 30, 2022	$ 6,538,103								$ 5,903,816					$ 8	$ 1	$ 0	$ 0	$ 6,282,690				$ (263,600)	$ (29,960)		$ (85,323)		$ 634,287
Balance at end of period (shares) at Sep. 30, 2022														84,155	5,789	0	0

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2022	Sep. 30, 2021
Common Stock, $0.0001 par value
Common stock, par value (USD per share)	$ 0.0001
Common Stock, $0.0001 par value \| Common Stock
Common stock, par value (USD per share)	0.0001	$ 0.0001
Class B 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
Common stock, par value (USD per share)	0.0001	0.0001
Common Stock, $0.001 par value \| Common Stock
Common stock, par value (USD per share)	0.001	0.001
Class B common stock, $0.001 par value \| Common Stock
Common stock, par value (USD per share)	$ 0.001	$ 0.001

CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities attributable to continuing operations:
Net (loss) earnings	$ (1,182,139)	$ 581,486
Less: Loss from discontinued operations, net of tax	0	(1,831)
Net (loss) earnings from continuing operations	(1,182,139)	583,317
Adjustments to reconcile net (loss) earnings to net cash (used in) provided by operating activities attributable to continuing operations:
Stock-based compensation expense	92,460	57,804
Amortization of intangibles	234,048	44,542
Depreciation	86,855	54,093
Provision for credit losses	87,657	66,428
Goodwill impairment	86,748	0
Deferred income taxes	(333,202)	150,617
Unrealized loss (gain) on investment in MGM Resorts International	970,112	(687,155)
Losses (gains) on investments in equity securities, net	10,145	(44,963)
Unrealized increase in the estimated fair value of a warrant	(21,318)	(102,331)
Non-cash lease expense (including right-of-use asset impairments)	56,879	24,497
Pension and postretirement benefit expense	78,088	0
Other adjustments, net	23,900	41,278
Changes in assets and liabilities, net of effects of acquisitions and dispositions:
Accounts receivable	3,607	(114,645)
Other assets	261	19,001
Operating lease liabilities	(47,726)	(20,513)
Accounts payable and other liabilities	(244,371)	103,756
Income taxes payable and receivable	(3,696)	(6,037)
Deferred revenue	199	39,940
Net cash (used in) provided by operating activities attributable to continuing operations	(101,493)	209,629
Cash flows from investing activities attributable to continuing operations:
Acquisitions, net of cash acquired	0	(25,364)
Capital expenditures	(112,840)	(69,401)
Proceeds from maturities of marketable debt securities	0	225,000
Cash distribution related to the spin-off of IAC's investment in Vimeo	0	(333,184)
Net proceeds from the sale of businesses and investments	41,272	11,915
Purchases of investment in MGM Resorts International	(244,256)	0
Purchases of investments	(3,036)	(23,892)
Decrease in notes receivable	19,497	0
Other, net	5,215	(1,627)
Net cash used in investing activities attributable to continuing operations	(294,148)	(216,553)
Cash flows from financing activities attributable to continuing operations:
Principal payments on Dotdash Meredith Term Loans	(22,500)	0
Principal payments on ANGI Group Term Loan	0	(220,000)
Debt issuance costs	(785)	0
Proceeds from the issuance of Vivian Health preferred shares, net of fees	34,700	0
Proceeds from the exercise of IAC stock options	0	1,496
Purchase of noncontrolling interests	(1,179)	(24,655)
Other, net	4,637	685
Net cash used in financing activities attributable to continuing operations	(101,239)	(369,105)
Total cash used in continuing operations	(496,880)	(376,029)
Net cash provided by operating activities attributable to discontinued operations	0	18,053
Net cash provided by investing activities attributable to discontinued operations	0	7,602
Net cash provided by financing activities attributable to discontinued operations	0	293,577
Total cash provided by discontinued operations	0	319,232
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(7,913)	(156)
Net decrease in cash and cash equivalents and restricted cash	(504,793)	(56,953)
Cash and cash equivalents and restricted cash at beginning of period	2,121,864	3,477,110
Cash and cash equivalents and restricted cash at end of period	1,617,071	3,420,157
IAC
Cash flows from financing activities attributable to continuing operations:
Purchase of treasury stock	(85,323)	0
Angi Inc.
Cash flows from financing activities attributable to continuing operations:
Purchase of treasury stock	(8,144)	(35,403)
IAC employees
Cash flows from financing activities attributable to continuing operations:
Withholding taxes paid on behalf of employees on net settled stock-based awards	(17,058)	(35,093)
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	$ (5,587)	$ (56,135)

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1—THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Acquisition of Meredith

On December 1, 2021, Dotdash Media Inc. (formerly known as About Inc., and referred to herein as "Dotdash"), a wholly-owned subsidiary of IAC Inc. (formerly known as IAC/InterActiveCorp, and referred to herein as "IAC"), completed the acquisition of Meredith Holdings Corporation ("Meredith"), which holds Meredith Corporation's national media business, consisting of its digital and magazine businesses, and its corporate operations. The parent of the combined entity is Dotdash Meredith, Inc. ("Dotdash Meredith"). See “Note 2—Business Combination” for a description of the acquisition of Meredith.

Vimeo Spin-off

On May 25, 2021, IAC completed the spin-off of its full stake in Vimeo, Inc. (formerly Vimeo Holdings, Inc. ("Vimeo")) to IAC shareholders (which we refer to as 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. See “Note 12—Discontinued Operations” for additional details.

Nature of Operations

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 Inc. and its subsidiaries (unless the context requires otherwise).

Basis of Presentation

The Company prepares its consolidated financial statements (collectively referred to herein as "financial statements") in accordance with United States ("U.S.") generally accepted accounting principles ("GAAP"). The 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. All intercompany transactions and balances between and among the Company and its subsidiaries have been eliminated.

The unaudited financial statements have been prepared in accordance with GAAP for interim financial information and with the rules and regulations of the Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and notes required by GAAP for complete annual financial statements. In the opinion of management, the unaudited financial statements include all normal recurring adjustments considered necessary for a fair presentation. Interim results are not necessarily indicative of the results that may be expected for the full year. The unaudited interim financial statements should be read in conjunction with the annual audited financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021.

COVID-19 Update

The impact on the Company from the COVID-19 pandemic and the measures designed to contain its spread continues to have a negative impact on year-over-year financial performance at Angi Inc. and Dotdash Meredith.

Angi Inc.

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 from mid-2020 through early 2021, service requests started to decline in May 2021 and have continued to decline during 2022 due, in part, to COVID-19 measures that were more widely in place in prior periods. Angi Inc.'s ability to monetize service requests rebounded modestly in the second half of 2021 and the first half of 2022, however, that improved monetization plateaued in the third quarter of 2022 and is now in line with monetization rates experienced pre-COVID-19.

Dotdash Meredith

Traffic to Dotdash’s sites is down relative to last year when COVID-19 measures were still more widely in place. As a result, digital advertising and performance marketing revenue at Dotdash, excluding Meredith, declined compared to 2021 due to lower traffic to its sites compared to prior year COVID-19 traffic highs. Post acquisition, Meredith has experienced a similar impact to its digital advertising revenue.

Future Outlook

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 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 capitalized software, equipment, buildings and leasehold improvements 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 thereto; 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, inflation 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.

General Revenue Recognition

Revenue is recognized when control of the promised services or goods is transferred to the Company's 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 8—Segment Information."

Deferred Revenue

Deferred revenue consists of payments that are received or are contractually due in advance of the Company's performance obligation. The Company’s deferred revenue is reported on a contract-by-contract basis at the end of each reporting period. The Company classifies deferred revenue as current when the remaining term of the applicable subscription period or expected completion of its performance obligation is one year or less. The current and non-current deferred revenue balances are $165.5 million and $0.4 million, respectively, at December 31, 2021, and $137.7 million and $0.7 million, respectively, at December 31, 2020. During the nine months ended September 30, 2022, the Company recognized $147.3 million of revenue that was included in the deferred revenue balance at December 31, 2021. During the nine months ended September 30, 2021, the Company recognized $123.5 million of revenue that was included in the deferred revenue balance at December 31, 2020. The current and non-current deferred revenue balances are $158.8 million and $0.3 million, at September 30, 2022, respectively. Non-current deferred revenue is included in "Other long-term liabilities" in the balance sheet.

Practical Expedients and Exemptions

As permitted under the practical expedient available under ASU No. 2014-09, Revenue from Contracts with Customers, the Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts with variable consideration that is 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 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. Expenses related to third-party agent sales of magazine subscriptions are included in "Selling and marketing expense" in the statement of operations.

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 and are included in "Selling and marketing expense" in the statement of operations. 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 amortization of mobile app store fees is included in "Cost of revenue" in the statement of operations.

The following table presents the capitalized costs to obtain a contract with a customer at September 30, 2022 and December 31, 2021, respectively:


	September 30, 2022						December 31, 2021
	Sales Commissions		App Store Fees		Total		Sales Commissions		App Store Fees		Total
	(In thousands)
Current	$	49,421	$	9,052	$	58,473	$	39,669	$	9,023	$	48,692
Non-current	4,596		—		4,596		6,086		—		6,086
Total	$	54,017	$	9,052	$	63,069	$	45,755	$	9,023	$	54,778

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.

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

The Company and Google are parties to an amended Services Agreement, which expires on March 31, 2024 and provides 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 earns certain other advertising revenue from Google that is not attributable to the Services Agreement. A meaningful portion of the Company's net cash from operating activities attributable to continuing operations that it can freely access is attributable to revenue earned pursuant to the Services Agreement and other revenue earned from Google.

For the three and nine months ended September 30, 2022, total revenue earned from Google was $161.6 million and $524.3 million, respectively, representing 12% and 13%, respectively, of the Company's revenue. The total revenue earned from the Services Agreement for the three and nine months ended September 30, 2022 was $117.3 million and $386.6 million, respectively, representing 9% and 10%, respectively, of the Company's total revenue. For the three and nine months ended September 30, 2021, total revenue earned from Google was $185.6 million and $527.0 million, respectively, representing 20% and 21%, respectively, of the Company's revenue. The total revenue earned from the Services Agreement for the three and nine months ended September 30, 2021 was $168.0 million and $471.3 million, respectively, representing 18% and 19%, respectively, of the Company's total revenue. The related accounts receivable totaled $58.3 million and $89.1 million at September 30, 2022 and December 31, 2021, respectively.

The revenue attributable to the Services Agreement is earned by Ask Media Group and the Desktop business, both within the Search segment. For the three and nine months ended September 30, 2022, revenue earned from the Services Agreement was $97.3 million and $315.4 million, respectively, within Ask Media Group and $20.0 million and $71.2 million, respectively, within the Desktop business. For the three and nine months ended September 30, 2021, revenue earned from the Services Agreement was $137.9 million and $382.5 million, respectively, within Ask Media Group and $30.1 million and $88.8 million, respectively, within the Desktop business.

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. Google may make changes in the future that could impact the revenue earned from Google, including under the Services Agreement.

Certain industry-wide policy changes became effective on August 27, 2020. These industry-wide changes, combined with increased enforcement of policies under the Services Agreement, have had a negative impact on the results of operations of the B2C business. 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 positively impacted profitability starting in the second quarter of 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. We expect future revenue and profits of the B2C business to continue to decline significantly.

Recent Accounting Pronouncements

Accounting Pronouncements Not Yet Adopted by IAC

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.

BUSINESS COMBINATION

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

BUSINESS COMBINATION

NOTE 2—BUSINESS COMBINATION

On December 1, 2021, Dotdash acquired 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 purchase price was calculated and allocated as follows:



	(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 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:



	(In thousands)
Cash and cash equivalents	$	12,436
Accounts receivable	369,549
Other current assets	96,116
Leasehold improvements, equipment, buildings, land and capitalized software	274,026
Goodwill	1,468,032
Intangible assets	1,213,159
Other non-current assets	677,153
Total assets	4,110,471
Customer deposit liability	(142,206)
Other current liabilities	(401,857)
Deferred income taxes	(294,715)
Other non-current liabilities	(585,228)
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 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:



	(In thousands)		Useful Life (Years)
Indefinite-lived trade names and trademarks	$	450,150	Indefinite-lived
Advertiser relationships	297,000		5
Licensee relationships	171,000		3-6
Digital content	96,200		2-3
Subscriber relationships	71,109		1-2
Developed technology	66,200		2-3
Trade name and trademarks	61,500		1-5
Total identifiable intangible assets acquired	$	1,213,159

The allocation of the purchase price to certain assets acquired and liabilities assumed is provisional and is subject to review and 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 an 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 $3.8 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 adjustments subsequent to the acquisition;

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

3.inventory;

4.leasehold improvements, equipment, buildings, land and capitalized software, 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.ROU 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 Meredith Corporation's 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 for which is approximately $60 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 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.

Unaudited pro forma financial information

The unaudited pro forma financial information in the table below presents the results of the Company and Meredith as if the Meredith acquisition had occurred on January 1, 2020. 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 this acquisition occurred on January 1, 2020. For the three and nine months ended September 30, 2021, pro forma adjustments include an increase in amortization expense of $38.2 million and $108.7 million, respectively, related to intangible asset adjustments in purchase accounting.


	Three Months Ended September 30, 2021		Nine Months Ended September 30, 2021
	(In thousands, except per share data)
Revenue	$	1,437,989	$	4,047,635
Net earnings from continuing operations	$	54,186	$	618,622
Basic earnings per share from continuing operations	$	0.60	$	6.98
Diluted earnings per share from continuing operations	$	0.57	$	6.54
Net earnings attributable to IAC shareholders	$	53,829	$	619,880
Basic earnings per share attributable to IAC shareholders	$	0.60	$	6.96
Diluted earnings per share attributable to IAC shareholders	$	0.57	$	6.51

GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

NOTE 3—GOODWILL AND INTANGIBLE ASSETS

Goodwill and intangible assets, net are as follows:


	September 30, 2022		December 31, 2021
	(In thousands)
Goodwill	$	3,008,244	$	3,226,610
Intangible assets with definite lives, net of accumulated amortization	588,679		735,743
Intangible assets with indefinite lives	693,824		679,149
Total goodwill and intangible assets, net	$	4,290,747	$	4,641,502

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the nine months ended September 30, 2022:


	Balance at December 31, 2021		Deductions		Impairment		Foreign Exchange Translation		Balance at September 30, 2022
	(In thousands)
Dotdash Meredith	$	1,567,843	$	(115,994)	$	—	$	—	$	1,451,849
Angi Inc.	916,375		(816)		—		(12,089)		903,470
Emerging & Other	742,392		(2,719)		(86,748)		—		652,925
Total	$	3,226,610	$	(119,529)	$	(86,748)	$	(12,089)	$	3,008,244

Deductions at Dotdash Meredith are primarily due to adjustments to the fair values of certain assets acquired and liabilities assumed related to Meredith, acquired by Dotdash on December 1, 2021, and the sale of a business at Dotdash Meredith. Deductions at Angi are due to working capital adjustments related to Total Home Roofing (“Angi Roofing”), acquired on July 1, 2021. Deductions at the Emerging & Other segment are due to the sale of a business at Mosaic Group.

In the second quarter of 2022, the Company reassessed the fair value of the Mosaic Group reporting unit (included in the Emerging & Other segment) and recorded an impairment of $86.7 million as a result of the projected reduction in future revenue and profits from the business and lower trading multiples of a selected peer group of companies. The fair value of the Mosaic Group reporting unit was determined using both an income approach based on discounted cash flows ("DCF") and a market approach. Determining fair value using a DCF analysis requires the exercise of significant judgment with respect to several items, including the amount and timing of expected future cash flows and appropriate discount rates. The expected cash flows used in the DCF analyses were based on the most recent forecast for Mosaic Group. For years beyond the forecast period, the Mosaic Group estimates was based, in part, on forecasted growth rates. The discount rate used in the DCF analyses was 16.0% and was intended to reflect the risks inherent in the expected future cash flows of the Mosaic Group 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 the Mosaic Group reporting unit. To determine a peer group of companies for the Mosaic Group reporting unit, the Company considered companies relevant in terms of consumer use, monetization model, margin and growth characteristics, and brand strength operating in their respective markets. At September 30, 2022, Mosaic Group has goodwill of $153.6 million and the carrying value of this reporting unit approximates its fair value. Any subsequent declines in the fair value of Mosaic Group will result in additional goodwill impairment charges to the extent the carrying value exceeds the fair value.

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 $644.5 million.

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the year ended December 31, 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 at Dotdash Meredith and Angi Roofing at Angi. Deductions are primarily related to the allocation of acquired attributes related to the acquisition of Care.com (included in the Emerging & Other segment).

The September 30, 2022 and December 31, 2021 goodwill balances reflect accumulated impairment losses of $981.3 million and $198.3 million at Search and Dotdash Meredith, respectively. The September 30, 2022 goodwill balance also reflects an impairment loss of $86.7 million related to the impairment at Mosaic Group reporting unit (included in the Emerging & Other segment). As a result of impairments recorded in 2020, the Search reportable segment has no goodwill.

At September 30, 2022 and December 31, 2021, intangible assets with definite lives are as follows:


	September 30, 2022
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life
	(In thousands)						(Years)
Advertiser relationships	$	297,000	$	(67,907)	$	229,093	5.0
Technology	198,429		(159,347)		39,082		3.5
Licensee relationships	171,000		(34,817)		136,183		4.9
Content	106,639		(50,834)		55,805		2.9
Trade names	101,594		(30,404)		71,190		5.5
Service professional relationships	97,143		(96,828)		315		3.0
Customer lists and user base	68,371		(39,526)		28,845		6.4
Subscriber relationships	56,300		(28,134)		28,166		2.0
Total	$	1,096,476	$	(507,797)	$	588,679	4.3


	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
Technology	133,318		(106,415)		26,903		4.2
Licensee relationships	150,000		(2,923)		147,077		4.9
Content	10,439		(10,439)		—		3.4
Trade names	145,598		(18,224)		127,374		5.1
Service professional relationships	98,789		(97,877)		912		3.0
Customer lists and user base	68,730		(32,606)		36,124		6.4
Subscriber relationships	73,700		(3,961)		69,739		2.0
Total	$	1,014,574	$	(278,831)	$	735,743	4.6

At September 30, 2022, amortization of intangible assets with definite lives is estimated to be as follows:


	(In thousands)
Remainder of 2022	$	66,898
2023	207,069
2024	133,941
2025	84,295
2026	68,864
Thereafter	27,612
Total	$	588,679

DOTDASH MEREDITH RESTRUCTURING CHARGES, TRANSACTION-RELATED EXPENSES AND CHANGE-IN-CONTROL PAYMENTS

9 Months Ended

Sep. 30, 2022

Restructuring and Related Activities [Abstract]

DOTDASH MEREDITH RESTRUCTURING CHARGES, TRANSACTION-RELATED EXPENSES AND CHANGE-IN-CONTROL PAYMENTS

NOTE 4—DOTDASH MEREDITH RESTRUCTURING CHARGES, TRANSACTION-RELATED EXPENSES AND CHANGE-IN-CONTROL PAYMENTS

Restructuring Charges

In the first quarter of 2022, Dotdash Meredith announced its plans to discontinue certain print publications and the shutdown of PeopleTV to focus the portfolio and further enable investments toward digital growth. The discontinued print publications consist of Entertainment Weekly, InStyle, EatingWell, Health, Parents, and People en Español, with the April 2022 issues as the final print editions, and Martha Stewart Living, with the May 2022 issue as the final print edition. Dotdash Meredith also announced a voluntary retirement program in the first quarter of 2022 to its employees who met certain age and service requirements. In addition, actions were taken to improve efficiencies following the Meredith acquisition, including vacating leased office space.

For the three and nine months ended September 30, 2022, the Company incurred $24.7 million and $60.8 million, respectively, of related restructuring charges, including $3.4 million and $36.5 million, respectively, of severance and related costs. The restructuring charges for both the three and nine months ended September 30, 2022 include $21.3 million of impairment charges related to the consolidation of certain leased spaces following the Meredith acquisition; $14.3 million related to the impairment of a ROU asset, which is included in "General and administrative expense," and $7.0 million related to the impairment of leasehold improvements and furniture and equipment, which is included in "Depreciation" in the statement of operations.

A summary of the costs incurred, payments made and related accruals for the nine months ended September 30, 2022 is presented below:


	September 30, 2022
	Digital		Print		Other (a)		Total
	(In thousands)
Restructuring charge accruals
Charges incurred	$	29,090	$	26,051	$	5,696	$	60,837
Payments	(5,888)		(16,865)		(2,038)		(24,791)
Non-cash (b)	(21,309)		(425)		—		(21,734)
Restructuring accruals as of September 30, 2022	$	1,893	$	8,761	$	3,658	$	14,312

_____________________

(a) Other comprises unallocated corporate expenses, which are corporate overhead expenses not attributable to the Digital or Print segments.

(b) Includes $21.3 million impairment of ROU assets, leasehold improvements and furniture and equipment and $0.4 million related to the write-off of inventory.

The costs are allocated as follows in the statement of operations:


	Three Months Ended September 30, 2022		Nine Months Ended September 30, 2022
	(In thousands)
Cost of revenue	$	1,320	$	17,921
Selling and marketing expense	636		10,251
General and administrative expense	15,702		24,560
Product development expense	84		1,099
Depreciation	7,006		7,006
Total	$	24,748	$	60,837

Dotdash Meredith anticipates the estimated remaining costs associated with the 2022 restructuring events will be approximately $1.0 million and will be paid by December 31, 2023 from existing cash on hand. A summary of the remaining costs is presented below:


	As of September 30, 2022
	Digital		Print		Other (a)		Total
	(In thousands)
Remaining estimated restructuring costs	$	64	$	352	$	551	$	967

Transaction-Related Expenses

For the three and nine months ended September 30, 2022, Dotdash Meredith incurred $0.8 million and $6.0 million, respectively, of transaction-related expenses related to the acquisition of Meredith.

Change-in-Control Payments

In December 2021, Dotdash Meredith recorded $60.1 million in change-in-control payments, which were triggered by the acquisition and the terms of certain former executives’ contracts. On July 1, 2022, Dotdash Meredith made $83.1 million in change-in-control payments, which included amounts accrued in December 2021, as well as amounts previously accrued that became payable following the change in control. On October 3, 2022, Dotdash Meredith made the final $4.3 million in change-in-control payments.

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

NOTE 5—FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

Marketable Securities

At September 30, 2022 and December 31, 2021, the fair value of marketable securities are as follows:


	September 30, 2022		December 31, 2021
	(In thousands)
Marketable equity securities	$	16,343	$	19,788

Total marketable securities	$	16,343	$	19,788

The Company has two investments in marketable equity securities, other than the investment in MGM Resorts International ("MGM"), at September 30, 2022, which are both carried at fair value following the investees' initial public offerings ("IPO"), which took place in the third quarter of 2021 and the first quarter of 2022, respectively. Prior to the respective IPOs, these investments were accounted for as equity securities without readily determinable fair values. The Company recorded net unrealized pre-tax losses of $14.0 million and $8.3 million during the three and nine months ended September 30, 2022 for these investments, respectively, and an unrealized pre-tax gain of $25.8 million in both the three and nine months ended September 30, 2021 for the investment that went public in the third quarter of 2021. For the three and nine months ended September 30, 2021, the Company recorded a realized loss of $3.5 million and a realized gain of $7.2 million related to another marketable equity security that was sold in the third quarter of 2021. The net unrealized and realized pre-tax losses and gains related to these investments are included in "Other income (expense), net" in the statement of operations.

Investment in MGM Resorts International


	September 30, 2022		December 31, 2021
	(In thousands)
Investment in MGM Resorts International	$	1,923,585	$	2,649,442

In the first and third quarters of 2022, the Company purchased a total of 5.7 million additional shares of MGM for $244.3 million. Following these purchases, the Company owns approximately 64.7 million shares, representing a 16.9% ownership interest in MGM as of October 31, 2022. The fair value of the investment in MGM is remeasured each reporting period based upon MGM's closing stock price on the New York Stock Exchange on the last trading day in the reporting period and any unrealized gains or losses are included in the statement of operations. The Company recorded an unrealized pre-tax gain of $42.5 million and an unrealized pre-tax loss of $970.1 million for the three and nine months ended September 30, 2022 on its investment in MGM, respectively. For the three and nine months ended September 30, 2021, the Company recorded unrealized pre-tax gains on its investment in MGM of $29.5 million and $687.2 million, respectively. The cumulative unrealized net pre-tax gain through September 30, 2022 is $659.7 million.

Long-term Investments

Long-term investments consist of:


	September 30, 2022		December 31, 2021
	(In thousands)
Equity securities without readily determinable fair values	$	307,047	$	324,649
Equity method investment	4,244		3,189
Total long-term investments	$	311,291	$	327,838

Equity Securities without Readily Determinable Fair Values

The following table presents a summary of unrealized pre-tax 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 September 30, 2022 and 2021.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Upward adjustments (gross unrealized pre-tax gains)	$	8,245	$	7,616	$	8,245	$	8,992
Downward adjustments including impairments (gross unrealized pre-tax losses)	—		(100)		(22,376)		(100)
Total	$	8,245	$	7,516	$	(14,131)	$	8,892

The cumulative upward and downward adjustments (including impairments) to the carrying value of equity securities without readily determinable fair values held at September 30, 2022 were $36.9 million and $61.0 million, respectively.

Realized and unrealized pre-tax gains and losses for the Company's investments without readily determinable fair values for the three and nine months ended September 30, 2022 and 2021 are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Realized pre-tax gains, net, for equity securities	$	11,840	$	3,022	$	12,302	$	3,103
Unrealized pre-tax gains (losses), net, on equity securities held	8,245		7,516		(14,131)		8,892
Total pre-tax gains (losses), net recognized	$	20,085	$	10,538	$	(1,829)	$	11,995

All pre-tax 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

The Company owns 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 at September 30, 2022 of approximately 26.7% 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. These equity losses were immaterial.

Fair Value Measurements

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

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

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

•Level 3: Unobservable inputs for which there is little or no market data and require the Company to develop its own assumptions, based on the best information available in the circumstances, about the assumptions market participants would use in pricing the assets or liabilities.

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


	September 30, 2022
	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	$	1,224,922	$	—	$	—	$	1,224,922

Time deposits	—		11,039		—		11,039
Marketable equity securities	16,343		—		—		16,343
Investment in MGM	1,923,585		—		—		1,923,585
Other non-current assets:
Warrant	—		—		130,612		130,612
Total	$	3,164,850	$	11,039	$	130,612	$	3,306,501


	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)

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


	Three Months Ended September 30,
	2022		2021
	Warrant			Warrant		Contingent Consideration Arrangements
	(In thousands)
Balance at July 1	$	122,145		$	60,532	$	—

Total net gains (losses):
Fair value adjustments included in earnings	8,467			47,075		(15,000)

Balance at September 30	$	130,612		$	107,607	$	(15,000)


	Nine Months Ended September 30,
	2022				2021
	Warrant		Contingent Consideration Arrangements		Warrant		Contingent Consideration Arrangements
	(In thousands)
Balance at January 1	$	109,294	$	(612)	$	5,276	$	—

Total net gains (losses):
Fair value adjustments included in earnings	21,318		612		102,331		(15,000)

Balance at September 30	$	130,612	$	—	$	107,607	$	(15,000)

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 September 30, 2022, the Company has two outstanding contingent consideration arrangements related to business combinations. The maximum contingent payments related to these arrangements is $7.0 million, however, as of September 30, 2022 the Company does not expect to make any further payments on these arrangements. At September 30, 2021, the Company had one outstanding contingent consideration arrangement related to a business combination. During the third quarter of 2021, the Company recorded a $15.0 million loss related to this contingent consideration arrangement 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.

Assets measured at fair value on a nonrecurring basis

The Company's non-financial assets, such as goodwill, intangible assets, ROU assets and capitalized software, equipment, buildings and leasehold improvements, are adjusted to fair value only when an impairment is recognized. The Company's financial assets, comprising equity securities without readily determinable fair values, are adjusted to fair value when observable price changes are identified or an impairment is recognized. Such fair value measurements are based predominantly on Level 3 inputs. See "Note 3—Goodwill and Intangible Assets" for a detailed description of the Mosaic Group goodwill impairment recorded in the second quarter of 2022.

Financial instruments measured at fair value only for disclosure purposes

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


	September 30, 2022				December 31, 2021
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
Current portion of long-term debt	$	(30,000)	$	(27,150)	$	(30,000)	$	(29,550)
Long-term debt, net(a)	$	(2,026,404)	$	(1,748,636)	$	(2,046,237)	$	(2,061,450)

_____________________

(a) At September 30, 2022 and December 31, 2021, the carrying value of long-term debt, net includes unamortized original issue discount and debt issuance costs of $21.1 million and $23.8 million, respectively.

At September 30, 2022 and December 31, 2021, the fair value of long-term debt, including the current portion, is estimated using observable market prices or indices for similar liabilities, which are Level 2 inputs.

- Definition

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

+ References + Details

LONG-TERM DEBT

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

LONG-TERM DEBT

NOTE 6—LONG-TERM DEBT

Long-term debt consists of:


	September 30, 2022		December 31, 2021
	(In thousands)
Dotdash Meredith Debt
Dotdash Meredith Term Loan A ("Dotdash Meredith Term Loan A") due December 1, 2026	$	336,875	$	350,000
Dotdash Meredith Term Loan B ("Dotdash Meredith Term Loan B") due December 1, 2028	1,240,625		1,250,000
Total Dotdash Meredith long-term debt	1,577,500		1,600,000
Less: current portion of Dotdash Meredith long-term debt	30,000		30,000
Less: original issue discount	5,521		6,176
Less: unamortized debt issuance costs	10,673		12,139
Total Dotdash Meredith long-term debt, net	1,531,306		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, which commenced February 15, 2021	500,000		500,000


Less: unamortized debt issuance costs	4,902		5,448
Total ANGI Group long-term debt, net	495,098		494,552

Total long-term debt, net	$	2,026,404	$	2,046,237

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 an 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 September 30, 2022 and December 31, 2021, the Dotdash Meredith Term Loan A bore interest at Adjusted Term SOFR plus 2.25% and 2.00%, or 4.86% and 2.15%, respectively, and the Dotdash Meredith Term Loan B bore interest at Adjusted Term SOFR, subject to a minimum of 0.50%, plus 4.00%, or 6.61% and 4.50%, respectively. Interest payments are due at least quarterly through the terms of the Dotdash Meredith Term Loans.

The outstanding balances of the Dotdash Meredith Term Loan A and Dotdash Meredith Term Loan B were $336.9 million and $1.24 billion at September 30, 2022, respectively, and $350.0 million and $1.25 billion at December 31, 2021, respectively. The Dotdash Meredith Term Loan A requires quarterly principal payments of approximately $4.4 million through December 31, 2024, $8.8 million through December 31, 2025 and approximately $13.1 million thereafter through maturity. The Dotdash Meredith Term Loan B requires quarterly payments of $3.1 million through maturity. Commencing with the delivery of financial statements for the period ending December 31, 2022, 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 Dotdash Meredith's net leverage ratio.

There were no outstanding borrowings under the Dotdash Meredith Revolving Facility at September 30, 2022 and December 31, 2021. The annual commitment fee on undrawn funds is based on Dotdash Meredith's consolidated net leverage ratio, as defined in the Dotdash Meredith Credit Agreement, most recently reported and was 40 and 35 basis points at September 30, 2022 and December 31, 2021, respectively. 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.

As of the last day of any calendar quarter, if either (i) $1.00 or more of loans under the Dotdash Meredith Revolving Facility or Dotdash Meredith Term Loan A are outstanding, or (ii) the outstanding face amount of undrawn letters of credit, other than cash collateralized letters of credit at 102% of face value, exceeds $25 million, subject to certain increases for qualifying material acquisitions, then Dotdash Meredith will not permit the consolidated net leverage ratio as of the last day of such quarter to exceed 5.5 to 1.0. The Dotdash Meredith Credit Agreement also contains covenants that would limit Dotdash Meredith’s ability to pay dividends, incur incremental secured indebtedness, or make distributions or certain investments in the event a default has occurred or if Dotdash Meredith’s consolidated net leverage ratio exceeds 4.0 to 1.0; this ratio was exceeded for the test period ended September 30, 2022.

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 Debt

The ANGI Group Senior Notes were issued on August 20, 2020. At any time prior to August 15, 2023, these notes may be redeemed at a redemption price equal to the sum of the principal amount thereof, plus accrued and unpaid interest and a make-whole premium. Thereafter, these notes may be redeemed at the redemption prices set forth in the indenture governing the notes, plus accrued and unpaid interest thereon, if any, to the applicable redemption date.

The indenture governing the ANGI Group Senior Notes contains a covenant that would limit ANGI Group’s ability to incur liens for borrowed money in the event a default has occurred or ANGI Group’s secured leverage ratio exceeds 3.75 to 1.0, provided that ANGI Group is permitted to incur such liens under certain permitted credit facilities indebtedness notwithstanding the ratio, all as defined in the indenture. At September 30, 2022 there were no limitations pursuant thereto.

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.

During the nine months ended September 30, 2021, ANGI Group prepaid the remaining balance of $220.0 million of the ANGI Group Term Loan principal, which otherwise would have matured on November 5, 2023.

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

NOTE 7—ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

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


	Three months ended September 30,
	2022		2021
	Foreign Currency Translation Adjustment		Foreign Currency Translation Adjustment
	(In thousands)
Balance at July 1	$	(12,852)	$	5,686
Other comprehensive loss before reclassifications	(17,112)		(1,083)
Amounts reclassified to earnings	—		—
Net current period other comprehensive loss	(17,112)		(1,083)
Accumulated other comprehensive loss allocated to noncontrolling interests during the period	4		24
Balance at September 30	$	(29,960)	$	4,627


	Nine Months Ended September 30,
	2022		2021
	Foreign Currency Translation Adjustment		Foreign Currency Translation Adjustment		Unrealized Gains (Losses) On Available-For-Sale Marketable Debt Securities		Accumulated Other Comprehensive (Loss) Income
	(In thousands)
Balance at January 1	$	4,397	$	(6,172)	$	2	$	(6,170)
Other comprehensive (loss) income before reclassifications	(34,362)		754		(2)		752
Amounts reclassified to earnings	—		10,032		—		10,032
Net current period other comprehensive (loss) income	(34,362)		10,786		(2)		10,784
Accumulated other comprehensive loss allocated to noncontrolling interests during the period	5		13		—		13
Balance at September 30	$	(29,960)	$	4,627	$	—	$	4,627

The amounts reclassified out of foreign currency translation adjustment into earnings for the nine months ended September 30, 2021 related to the substantial liquidation of certain international subsidiaries.

At both September 30, 2022 and 2021, there was no income tax benefit or provision on the accumulated other comprehensive (loss) income.

SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 8—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, or, in the case of the Emerging & Other reportable segment, do not meet the quantitative thresholds that require presentation as separate reportable segments.

The following table presents revenue by reportable segment:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Revenue
Dotdash Meredith
Digital	$	220,749	$	65,165	$	671,424	$	203,919
Print	251,471		—		801,756		—
Intersegment eliminations(a)	(5,135)		—		(16,100)		—
Total Dotdash Meredith	467,085		65,165		1,457,080		203,919
Angi Inc.	498,036		461,565		1,449,977		1,269,582
Search	156,719		228,445		578,287		593,086
Emerging & Other	180,820		168,923		508,903		473,735
Intersegment eliminations	(1,759)		(30)		(5,420)		(137)
Total	$	1,300,901	$	924,068	$	3,988,827	$	2,540,185

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Dotdash Meredith
Digital:
Display advertising revenue	$	148,309	$	42,911	$	442,950	$	125,014
Performance marketing revenue	46,089		21,881		144,127		77,432
Licensing and other revenue	26,351		373		84,347		1,473
Total digital revenue	220,749		65,165		671,424		203,919
Print:
Subscription revenue	97,373		—		339,276		—
Advertising revenue	64,446		—		208,399		—
Project and other revenue	39,419		—		114,698		—
Newsstand revenue	37,180		—		104,015		—
Performance marketing revenue	13,053		—		35,368		—
Total print revenue	251,471		—		801,756		—
Intersegment eliminations(a)	(5,135)		—		(16,100)		—
Total Dotdash Meredith revenue	$	467,085	$	65,165	$	1,457,080	$	203,919

(a) Includes intersegment eliminations related to digital performance marketing revenue of $5.1 million and $15.9 million for the three and nine months ended September 30, 2022.

Angi Inc.
North America
Angi Ads and Leads:
Consumer connection revenue(b)	$	260,242	$	238,421	$	732,075	$	699,867
Advertising revenue(c)	67,045		63,953		195,906		187,308
Membership subscription revenue(d)	14,795		17,079		46,586		51,026
Other revenue	5,658		6,703		16,127		21,412
Total Angi Ads and Leads revenue	347,740		326,156		990,694		959,613


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Angi Services revenue(e)	131,862		117,375		395,894		244,904
Total North America revenue	479,602		443,531		1,386,588		1,204,517
Europe
Consumer connection revenue(b)	15,576		14,530		54,320		54,226
Service professional membership subscription revenue	2,575		3,215		8,203		9,874
Advertising and other revenue	283		289		866		965
Total Europe revenue	18,434		18,034		63,389		65,065
Total Angi Inc. revenue	$	498,036	$	461,565	$	1,449,977	$	1,269,582

(b) Includes fees paid by service professionals for consumer matches.
(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.

Search
Advertising revenue
Google advertising revenue:	$	119,576	$	171,222	$	394,074	$	480,157
Non-Google advertising revenue	36,087		53,401		180,164		101,135
Total advertising revenue	155,663		224,623		574,238		581,292
Other revenue	1,056		3,822		4,049		11,794
Total Search revenue	$	156,719	$	228,445	$	578,287	$	593,086

Emerging & Other
Subscription revenue	$	91,405	$	96,763	$	278,722	$	268,993
Marketplace revenue	73,709		63,456		202,380		173,615
Media production and distribution revenue	8,954		730		9,558		11,142
Advertising revenue:
Non-Google advertising revenue	4,102		5,039		11,765		12,351
Google advertising revenue	535		862		1,659		1,983
Total advertising revenue	4,637		5,901		13,424		14,334
Service and other revenue	2,115		2,073		4,819		5,651
Total Emerging & Other revenue	$	180,820	$	168,923	$	508,903	$	473,735

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Revenue:
United States	$	1,209,748	$	796,808	$	3,684,184	$	2,156,061
All other countries	91,153		127,260		304,643		384,124
Total	$	1,300,901	$	924,068	$	3,988,827	$	2,540,185


	September 30, 2022		December 31, 2021
	(In thousands)
Long-lived assets (excluding goodwill, intangible assets, and ROU assets):
United States	$	576,534	$	562,628
All other countries	7,354		7,897
Total	$	583,888	$	570,525

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Operating (loss) income:
Dotdash Meredith
Digital	$	(104,445)	$	7,082	$	(95,217)	$	44,383
Print	27,325		—		(31,109)		—
Other(f)	(18,378)		—		(52,924)		—
Total Dotdash Meredith(g)	(95,498)		7,082		(179,250)		44,383
Angi Inc.	(11,058)		(14,973)		(65,901)		(47,595)
Search	19,085		30,011		70,461		74,059
Emerging & Other	(1,577)		(22,239)		(114,402)		(23,946)
Corporate	(35,632)		(31,948)		(110,542)		(114,618)
Total	$	(124,680)	$	(32,067)	$	(399,634)	$	(67,717)

_____________________

(f) Other comprises unallocated corporate expenses, which are corporate overhead expenses not attributable to the Digital or Print segments.

(g) Dotdash Meredith includes restructuring charges of $24.7 million and $60.8 million and transaction-related expenses of $0.8 million and $6.0 million related to the acquisition of Meredith for the three and nine months ended September 30, 2022, respectively. The restructuring charges for both the three and nine months ended September 30, 2022 include $7.0 million of impairment charges included in "Depreciation" in the statement of operations. See "Note 4—Dotdash Meredith Restructuring Charges, Transaction-Related Expenses and Change-in-Control Payments" for additional information.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Adjusted EBITDA(h):
Dotdash Meredith(i)
Digital	$	22,602	$	8,202	$	108,718	$	48,673
Print	$	23,097	$	—	$	18,882	$	—
Other(f)	$	(14,506)	$	—	$	(48,706)	$	—
Angi Inc.	$	22,882	$	12,395	$	29,402	$	31,139
Search	$	19,111	$	30,031	$	70,528	$	74,087
Emerging & Other	$	2,425	$	2,737	$	(13,719)	$	21,592
Corporate	$	(20,830)	$	(23,132)	$	(65,240)	$	(71,769)

_____________________

(h) 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.

(i) Dotdash Meredith includes restructuring charges of $17.7 million and $53.8 million and transaction-related expenses of $0.8 million and $6.0 million related to the acquisition of Meredith for the three and nine months ended September 30, 2022, respectively. See "Note 4—Dotdash Meredith Restructuring Charges, Transaction-Related Expenses and Change-in-Control Payments" for additional information.

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


	Three Months Ended September 30, 2022
	Operating (Loss) Income(g)		Stock-based Compensation Expense		Depreciation (g)(j)		Amortization of Intangibles(j)		Adjusted EBITDA(h)(i)
	(In thousands)
Dotdash Meredith
Digital	$	(104,445)	$	5,814	$	5,312	$	115,921	$	22,602
Print	27,325		$	391	$	(2,154)	$	(2,465)	$	23,097
Other(f)	(18,378)		$	53	$	3,819	$	—	$	(14,506)
Angi Inc.	(11,058)		$	12,376	$	17,759	$	3,805	$	22,882
Search	19,085		$	—	$	26	$	—	$	19,111
Emerging & Other	(1,577)		$	175	$	311	$	3,516	$	2,425
Corporate(k)	(35,632)		$	12,308	$	2,494	$	—	$	(20,830)
Total	(124,680)
Interest expense	(29,433)
Unrealized gain on investment in MGM Resorts International	42,523
Other income, net	19,678
Loss before income taxes	(91,912)
Income tax benefit	26,065
Net loss	(65,847)
Net loss attributable to noncontrolling interests	2,024
Net loss attributable to IAC shareholders	$	(63,823)

_____________________

(j) Depreciation and amortization of intangibles for Dotdash Meredith for the three months ended September 30, 2022 reflect, in part, cumulative adjustments made to the fair value of leasehold improvements, equipment, buildings, capitalized software and intangible assets acquired in the Meredith acquisition.

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


	Three Months Ended September 30, 2021
	Operating Income (Loss)		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Arrangements		Adjusted EBITDA(h)
	(In thousands)

Dotdash Meredith	$	7,082	$	—	$	527	$	593	$	—	$	8,202


Angi Inc.	(14,973)		$	8,813	$	14,701	$	3,854	$	—	$	12,395
Search	30,011		$	—	$	20	$	—	$	—	$	30,031
Emerging & Other	(22,239)		$	25	$	331	$	9,620	$	15,000	$	2,737
Corporate(k)	(31,948)		$	6,600	$	2,216	$	—	$	—	$	(23,132)
Total	(32,067)
Interest expense	(6,032)
Unrealized gain on investment in MGM Resorts International	29,517
Other income, net	79,539
Earnings before income taxes	70,957
Income tax provision	(9,910)
Net earnings	61,047
Net earnings attributable to noncontrolling interests	(357)
Net earnings attributable to IAC shareholders	$	60,690


	Nine Months Ended September 30, 2022
	Operating (Loss) Income(g)		Stock-based Compensation Expense		Depreciation(g)		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Adjustments		Goodwill Impairment		Adjusted EBITDA(h)(i)
	(In thousands)
Dotdash Meredith
Digital	$	(95,217)	$	14,889	$	21,004	$	168,654	$	(612)	$	—	$	108,718
Print	(31,109)		$	659	$	8,010	$	41,322	$	—	$	—	$	18,882
Other(f)	(52,924)		$	92	$	4,126	$	—	$	—	$	—	$	(48,706)
Angi Inc.	(65,901)		$	38,778	$	45,112	$	11,413	$	—	$	—	$	29,402
Search	70,461		$	—	$	67	$	—	$	—	$	—	$	70,528
Emerging & Other	(114,402)		$	283	$	993	$	12,659	$	—	$	86,748	$	(13,719)
Corporate(k)	(110,542)		$	37,759	$	7,543	$	—	$	—	$	—	$	(65,240)
Total	(399,634)
Interest expense	(74,862)
Unrealized loss on investment in MGM Resorts International	(970,112)
Other expense, net	(63,048)
Loss before income taxes	(1,507,656)
Income tax benefit	325,517
Net loss	(1,182,139)
Net loss attributable to noncontrolling interests	13,388
Net loss attributable to IAC shareholders	$	(1,168,751)


	Nine Months Ended September 30, 2021
	Operating Income (Loss)		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Adjustments		Adjusted EBITDA(h)
	(In thousands)

Dotdash Meredith	$	44,383	$	—	$	1,706	$	2,584	$	—	$	48,673


Angi Inc.	(47,595)		$	20,390	$	45,728	$	12,616	$	—	$	31,139
Search	74,059		$	—	$	28	$	—	$	—	$	74,087
Emerging & Other	(23,946)		$	75	$	1,121	$	29,342	$	15,000	$	21,592
Corporate(k)	(114,618)		$	37,339	$	5,510	$	—	$	—	$	(71,769)
Total	(67,717)
Interest expense	(18,463)
Unrealized gain on investment in MGM Resorts International	687,155
Other income, net	133,388
Earnings from continuing operations before income taxes	734,363
Income tax provision	(151,046)
Net earnings from continuing operations	583,317
Loss from discontinued operations, net of tax	(1,831)
Net earnings	581,486
Net loss attributable to noncontrolling interests	3,089
Net earnings attributable to IAC shareholders	$	584,575

- 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

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+ Details

PENSION AND POSTRETIREMENT BENEFIT PLANS

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

PENSION AND POSTRETIREMENT BENEFIT PLANS

NOTE 9—PENSION AND POSTRETIREMENT BENEFIT PLANS

The following table presents the components of net periodic benefit costs for the pension and postretirement benefit plans the Company assumed in connection with the acquisition of Meredith:


	Three Months Ended September 30, 2022						Nine Months Ended September 30, 2022
	Pension				Postretirement		Pension				Postretirement
	Domestic		International		Domestic		Domestic		International		Domestic
	(In thousands)
Service cost	$	877	$	—	$	2	$	2,766	$	—	$	5
Interest cost	1,267		3,999		66		3,154		11,073		200
Expected return on plan assets	(308)		(4,252)		—		(2,484)		(12,668)		—
Actuarial (gain) loss recognition	(2,643)		—		—		7,490		68,552		—
Net periodic (credit) benefit costs	$	(807)	$	(253)	$	68	$	10,926	$	66,957	$	205

Settlements during the three and nine months ended September 30, 2022 triggered remeasurements of Meredith's funded pension plan in the U.S. The U.S. actuarial gain of $2.6 million for the three months ended September 30, 2022 primarily relates to assumption changes due to increases in the discount rate and updates to participant census data. The U.S. actuarial loss of $7.5 million for the nine months ended September 30, 2022 primarily relates to the decline in the fair value of the pension plan's assets exceeding the decline in the plan liabilities, partially offset by the gain related to an annuity contract revaluation in the second quarter of 2022 and the gain in the third quarter of 2022 described above.

On September 13, 2022, the board of directors of Meredith voted unanimously to freeze and terminate the U.S. funded pension plan effective December 31, 2022. As the plan amendment had not been executed as of the September 30, 2022 plan measurement date, the assumptions were developed on an ongoing plan basis. The amendment is expected to be fully executed in the fourth quarter of 2022, which will trigger a re-measurement loss at December 31, 2022 equal to the amount of cost expected to be incurred to settle the benefit obligations in excess of plan assets. The Company is evaluating the amount of the loss and the date all obligations will be settled.

Settlements in the first and second quarter of 2022 triggered remeasurements of Meredith's funded pension plan in the United Kingdom ("U.K."), consisting of the IPC Pension Scheme. The actuarial loss of $68.6 million for the nine months ended September 30, 2022 primarily relates to the decline in the fair value of the IPC Pension Scheme's assets exceeding the decline in the plan liabilities, in each case due to higher interest rates.

On July 28, 2022, following approval by the trustees of Dotdash Meredith's IPC Pension Scheme, the IPC Pension Scheme entered into an insurance buy-in contract with a private limited life insurance company to insure the remaining portion of the IPC Pension Scheme covering all IPC Pension Scheme participants who were not covered by the insurance buy-in contract entered into in May 2020. The insurance contract is designed to provide payments equal to all future designated contractual benefit payments to covered participants. The benefit obligation was not transferred to the insurer, and Dotdash Meredith remains responsible for paying pension benefits to the IPC Pension Scheme participants.

As a result of this transaction, the IPC Pension Scheme incurred an actuarial loss of approximately £110 million, or $119 million based on the September 30, 2022 exchange rate. The net assets of the IPC Pension Scheme are included in "Other non-current assets" on the balance sheet, and at September 30, 2022 were $130.7 million. As the IPC Pension Scheme did not require remeasurement for the quarter ended September 30, 2022, the actuarial loss will be recorded in the quarter ending December 31, 2022 as an expense within "Other income (expense), net" in the statement of operations. In addition, we will be refining the estimate of the actuarial loss.

Following this transaction, the IPC Pension Scheme owns two insurance contracts that are intended to insure 100% of the future designated contractual benefit payments to all covered participants. The value of the annuity contracts and the liabilities with respect to insured participants are expected to match (i.e., the full benefits have been insured). As mentioned above, the benefit obligation was not transferred to the insurer, and Dotdash Meredith remains responsible for paying IPC Pension Scheme pension benefits. While Dotdash Meredith currently does not expect to be required to make additional contributions to the IPC Pension Scheme, this may change based upon future events or as additional information becomes available.

The following table summarizes the weighted average expected return on plan assets used to determine the net periodic benefit costs at September 30, 2022, following the remeasurements during the nine months ended September 30, 2022, and December 31, 2021, respectively:


	September 30, 2022				December 31, 2021
	Pension
	Domestic		International		Domestic		International
Expected return on plan assets	3.15	%	2.20	%	6.00	%	1.90	%

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

- Definition

The entire disclosure for retirement benefits.

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+ Details

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 10—INCOME TAXES At the end of each interim period, the Company estimates the annual expected effective income tax rate and applies that rate to its ordinary year-to-date earnings or loss. The income tax provision or benefit related to significant, unusual, or extraordinary items, if applicable, that will be separately reported or reported net of their related tax effects are individually computed and recognized in the interim period in which they occur. In addition, the effect of changes in enacted tax laws or rates, tax status, judgment on the realizability of a beginning-of-the-year deferred tax asset in future years or unrecognized tax benefits is recognized in the interim period in which the change occurs. The computation of the annual expected effective income tax rate at each interim period requires certain estimates and assumptions including, but not limited to, the expected pre-tax income (or loss) for the year, projections of the proportion of income (and/or loss) earned and taxed in foreign jurisdictions, permanent and temporary differences, and the likelihood of the realization of deferred tax assets generated in the current year. The accounting estimates used to compute the provision or benefit for income taxes may change as new events occur, more experience is acquired, additional information is obtained or the Company's tax environment changes. To the extent that the expected annual effective income tax rate changes during a quarter, the effect of the change on prior quarters is included in income tax provision or benefit in the quarter in which the change occurs. Included in the income tax benefit for the three months ended September 30, 2022 was a benefit of $3.7 million due to a higher estimated annual effective tax rate from that applied to the second quarter’s year to date ordinary loss from continuing operations. The higher estimated annual effective rate was primarily due to the reduced impact that forecasted nondeductible stock-based compensation expense had on the increase in forecasted ordinary pre-tax losses. For the three and nine months ended September 30, 2022, the Company recorded an income tax benefit of $26.1 million and $325.5 million, respectively, which represents an effective income tax rate of 28% and 22%, respectively. For the three months ended September 30, 2022, the effective income tax rate was higher than the statutory rate of 21% due primarily to the realization of a capital loss. For the nine months ended September 30, 2022, the effective income tax rate was higher than the statutory rate of 21% due primarily to state taxes, offset by the non-deductible portion of the Mosaic Group goodwill impairment charge. For the three and nine months ended September 30, 2021, the Company recorded an income tax provision of $9.9 million and $151.0 million, which represents an effective income tax rate of 14% and 21%, respectively. For the three months ended September 30, 2021, the effective tax rate was lower than the statutory rate of 21% due primarily to excess tax benefits generated by the exercise and vesting of stock-based awards, partially offset by state taxes, nondeductible stock-based compensation expense, and foreign income taxed at different rates. For the nine months ended September 30, 2021, the effective income tax rate was the same as the statutory rate of 21% due to excess tax benefits generated by the exercise and vesting of stock-based awards, offset by an increase in the valuation allowance on beginning-of-the-year deferred tax assets related to the Spin-off and state taxes. The Company recognizes interest and, if applicable, penalties related to unrecognized tax benefits in the income tax provision. Accruals for interest and penalties are not material. On December 19, 2019, IAC/InterActiveCorp ("Old IAC") entered into a 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, 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." 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 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 2014. Income taxes payable include unrecognized tax benefits considered sufficient to pay assessments that may result from the examination of prior year tax returns. The Company considers many factors when evaluating and estimating its tax positions and tax benefits, which may not accurately anticipate actual outcomes and, therefore, may require periodic adjustment. Although management currently believes changes in unrecognized tax benefits from period to period and differences between amounts paid, if any, upon resolution of issues raised in audits and amounts previously provided will not have a material impact on the liquidity, results of operations, or financial condition of the Company, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future. At September 30, 2022 and December 31, 2021, unrecognized tax benefits, including interest and penalties, are $18.2 million and $18.0 million, respectively. Unrecognized tax benefits, including interest and penalties, at September 30, 2022 increased by $0.2 million due primarily to research credits, offset by a reduction in foreign reserves. If unrecognized tax benefits at September 30, 2022 are subsequently recognized, $17.1 million, net of related deferred tax assets and interest, would reduce income tax expense. The comparable amount at December 31, 2021 was $16.7 million. The Company believes that it is reasonably possible that its unrecognized tax benefits could decrease by $5.0 million by September 30, 2023 due to expected settlements of which $4.9 million would reduce the income tax provision. The Company regularly assesses the realizability of deferred tax assets considering all available evidence including, to the extent applicable, the nature, frequency and severity of prior cumulative losses, forecasts of future taxable income, tax filing status, the duration of statutory carryforward periods, available tax planning and historical experience. At September 30, 2022, the Company has a U.S. gross deferred tax asset of $889.6 million that the Company expects to fully utilize on a more likely than not basis. Of this amount, $799.9 million will be utilized upon the future reversal of deferred tax liabilities and the remaining net deferred tax asset of $89.7 million will be utilized based on forecasts of future taxable income. The Company’s most significant net deferred tax asset that could expire relates to U.S. federal net operating loss (“NOL”) carryforwards of $91.2 million. The Company expects to generate sufficient future taxable income of at least $434.1 million prior to the expiration of these NOLs, the majority of which expire between 2029 and 2036, to fully realize this deferred tax asset.

- 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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

(LOSS) EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

(LOSS) EARNINGS PER SHARE

NOTE 11—(LOSS) EARNINGS PER SHARE

The Company treats its common stock and Class B common stock as one class of stock for net (loss) earnings per share ("EPS") purposes as both classes of stock participate in earnings, dividends and other distributions on the same basis. The restricted stock award ("the CEO award") granted to our Chief Executive Officer ("CEO") on November 5, 2020 is a participating security and the Company calculates basic 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. Diluted EPS is calculated, on the most dilutive basis, which excludes awards that would be anti-dilutive, including the CEO award.

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 EPS. Basic EPS is computed by dividing net (loss) earnings attributable to holders of IAC common stock and Class B common stock by the weighted-average number of shares of common stock and Class B common stock outstanding during the period.

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

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands, except per share data)
Basic EPS:
Numerator:
Net (loss) earnings from continuing operations	$	(65,847)	$	61,047	$	(1,182,139)	$	583,317
Net loss (earnings) attributable to noncontrolling interests of continuing operations	2,024		(357)		13,388		3,275
Net earnings attributed to unvested participating security	—		(2,040)		—		(19,749)
Net (loss) earnings from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	(63,823)	$	58,650	$	(1,168,751)	$	566,843

Loss from discontinued operations, net of tax	$	—	$	—	$	—	$	(1,831)
Net earnings attributable to noncontrolling interests of discontinued operations	—		—		—		(186)
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)

Net (loss) earnings attributable to IAC Common Stock and Class B common stock shareholders	$	(63,823)	$	58,650	$	(1,168,751)	$	564,894

Denominator:
Weighted average basic IAC Common Stock and Class B common stock shares outstanding(a)	86,022		86,258		86,515		86,106

(Loss) earnings per share:
(Loss) earnings per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	(0.74)	$	0.68	$	(13.51)	$	6.58
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders	$	—	$	—	$	—	$	(0.02)
(Loss) earnings per share attributable to IAC Common Stock and Class B common stock shareholders	$	(0.74)	$	0.68	$	(13.51)	$	6.56


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands, except per share data)
Diluted EPS:
Numerator:
Net (loss) earnings from continuing operations	$	(65,847)	$	61,047	$	(1,182,139)	$	583,317
Net loss (earnings) attributable to noncontrolling interests of continuing operations	2,024		(357)		13,388		3,275
Net earnings attributed to unvested participating security	—		(1,938)		—		(18,494)
Impact from public subsidiaries' dilutive securities(b)	—		91		—		245
Net (loss) earnings from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	(63,823)	$	58,843	$	(1,168,751)	$	568,343

Loss from discontinued operations, net of tax	$	—	$	—	$	—	$	(1,831)
Net earnings attributable to noncontrolling interests of discontinued operations	—		—		—		(186)
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)

Net (loss) earnings attributable to IAC Common Stock and Class B common stock shareholders	$	(63,823)	$	58,843	$	(1,168,751)	$	566,390

Denominator:
Weighted average basic IAC Common Stock and Class B common stock shares outstanding(a)	86,022		86,258		86,515		86,106
Dilutive securities(b)(c)(d)	—		4,818		—		6,089
Denominator for earnings per share—weighted average shares(b)(c)(d)	86,022		91,076		86,515		92,195

(Loss) earnings per share:
(Loss) earnings per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	(0.74)	$	0.65	$	(13.51)	$	6.16
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders	$	—	$	—	$	—	$	(0.02)
(Loss) earnings per share attributable to IAC Common Stock and Class B common stock shareholders	$	(0.74)	$	0.65	$	(13.51)	$	6.14

_____________________

(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) IAC has the option to settle certain Angi Inc. stock-based awards in its shares. For the three and nine months ended September 30, 2022, the Company had a loss from continuing operations and as a result these awards were excluded from computing dilutive earnings per share because the impact would have been anti-dilutive. For the three and nine months ended September 30, 2021 it was 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.

(c) For the three and nine months ended September 30, 2022, the Company had a loss from continuing operations and, as a result, approximately 8.0 million potentially dilutive securities were excluded from computing diluted EPS because the impact would have been anti-dilutive. Accordingly, the weighted average basic shares outstanding were used to compute the EPS amounts for the three and nine months ended September 30, 2022.

(d) If the effect is dilutive, weighted average common shares outstanding include the incremental shares that would be issued upon the assumed exercise of stock options and subsidiary denominated equity and vesting of restricted common stock, restricted stock units ("RSUs") and market-based awards ("MSUs"). For both the three and nine months ended September 30, 2021, 3.0 million potentially dilutive securities related to the CEO award were excluded from the calculation of diluted EPS because their inclusion would have been anti-dilutive.

DISCONTINUED OPERATIONS

9 Months Ended

Sep. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

NOTE 12—DISCONTINUED OPERATIONS

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

The components of the loss from discontinued operations for the period January 1, 2021 through May 25, 2021 in the statement of operations consisted of the following:


	January 1 through May 25, 2021
	(In thousands)
Revenue	$	145,514
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	39,995
Selling and marketing expense	54,774
General and administrative expense	23,343
Product development expense	35,651
Depreciation	182
Amortization of intangibles	2,983
Total operating costs and expenses	156,928
Operating loss from discontinued operations	(11,414)
Interest expense	(140)
Other income, net	10,172
Loss from discontinued operations before tax	(1,382)
Income tax expense	(449)
Loss from discontinued operations, net of tax	$	(1,831)

FINANCIAL STATEMENT DETAILS

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

FINANCIAL STATEMENT DETAILS

NOTE 13—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:


	September 30, 2022		December 31, 2021		September 30, 2021		December 31, 2020
	(In thousands)
Cash and cash equivalents	$	1,607,384	$	2,118,730	$	3,404,913	$	3,366,176
Restricted cash included in other current assets	2,872		1,941		14,027		448
Restricted cash included in other non-current assets	6,815		1,193		1,217		449
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	—		—		—		110,037
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$	1,617,071	$	2,121,864	$	3,420,157	$	3,477,110

Restricted cash included in "Other current assets" in the balance sheet at September 30, 2022 primarily consists of cash held related to insurance programs at Bluecrew and Care.com.

Restricted cash included in "Other current assets" in the balance sheet at December 31, 2021 primarily consists of cash held in escrow related to the IPC Pension Scheme the Company assumed in connection with the acquisition of Meredith.

Restricted cash included in "Other current assets" in the balance sheet at September 30, 2021 primarily consists of cash received from customers at Care.com’s payment solutions business, representing funds collected for payroll and related taxes, which were not remitted as of the period end.

Restricted cash included in "Other current assets" in the balance sheet 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 included in "Other non-current assets" in the balance sheet at September 30, 2022 primarily consists of cash held in escrow related to the IPC Pension Scheme the Company assumed in connection with the acquisition of Meredith as well as 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 at December 31, 2021 consists 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

The following table presents the changes in the allowance for credit losses for the nine months ended September 30, 2022 and 2021, respectively:


	2022		2021
	(In thousands)
Balance at January 1	$	36,637	$	27,178
Current period provision for credit losses	87,657		66,428
Write-offs charged against the allowance	(73,807)		(55,942)
Recoveries collected	4,152		1,896
Balance at September 30	$	54,639	$	39,560

Accumulated Amortization and Depreciation

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


Asset Category	September 30, 2022		December 31, 2021
	(In thousands)
ROU assets included in other non-current assets	$	129,487	$	87,052
Capitalized software, equipment, buildings and leasehold improvements	$	276,822	$	496,887
Intangible assets	$	507,797	$	278,831

Other income (expense), net


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Realized gain related to the sale of investments	$	11,840	$	3,022	$	12,302	$	3,103
Interest income	8,778		216		11,918		931
Unrealized increase in the estimated fair value of a warrant	8,467		47,075		21,318		102,331
Upward (downward) adjustments to the carrying value of equity securities without readily determinable fair values	8,245		7,516		(14,131)		8,892
Net periodic pension benefit credits (costs), other than the service cost component(a)	1,871		—		(75,317)		—
Unrealized (loss) gain related to marketable equity securities	(13,972)		25,794		(8,316)		25,794
Foreign exchange losses, net(b)	(5,196)		(858)		(11,425)		(11,976)
Realized (loss) gain on the sale of a marketable equity security	—		(3,536)		—		7,174
Loss on extinguishment of debt(c)	—		—		—		(1,110)
Other	(355)		310		603		(1,751)
Other income (expense), net	$	19,678	$	79,539	$	(63,048)	$	133,388

_____________________

(a) Includes a pre-tax actuarial gain of $2.6 million for the three months ended September 30, 2022 related to Meredith's funded pension plan in the U.S. and a pre-tax actuarial loss of $76.1 million for the nine months ended September 30, 2022 related to Meredith's funded pension plans in the U.K., consisting of the IPC Pension Scheme, and the U.S. See "Note 9—Pension and Postretirement Benefit Plans" for additional information.

(b) Includes $10.0 million in foreign exchange losses primarily related to the substantial liquidation of certain foreign subsidiaries in the nine months ended September 30, 2021.

(c) 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.

CONTINGENCIES	9 Months Ended
CONTINGENCIES	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 14—CONTINGENCIES In the ordinary course of business, the Company is a party to various lawsuits. The Company establishes accruals 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 accrual 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 10—Income Taxes" for additional information related to income tax contingencies.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

+ References + Details

RELATED PARTY TRANSACTIONS	9 Months Ended
RELATED PARTY TRANSACTIONS	Sep. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 15—RELATED PARTY TRANSACTIONS IAC and Angi Inc. The Company and Angi Inc., in connection with the transaction resulting in the formation of Angi Inc. in 2017, entered into a contribution agreement; an investor rights agreement; a services agreement; a tax sharing agreement; and an employee matters agreement. There were no shares of Angi Inc. Class A or Class B common stock issued to IAC pursuant to the employee matters agreement during the three and nine months ended September 30, 2022. During 2022, there have been no IAC equity awards held by Angi Inc. employees exercised or vested, and no exercises and settlements of Angi Inc. stock appreciation rights, that would require reimbursement to IAC in Angi Inc. Class A and Class B common stock. For the three and nine months ended September 30, 2021, less than 0.1 million and 2.6 million shares, respectively, of Angi Inc. Class A common stock were issued to a subsidiary of the Company pursuant to the employee matters agreement as reimbursement for IAC common stock issued in connection with the exercise and settlement of certain Angi Inc. stock appreciation rights. For the three and nine months ended September 30, 2021, less than 0.1 million and 0.2 million shares, respectively, of Angi Inc. Class B common stock were issued to a subsidiary of the Company pursuant to the employee matters agreement as reimbursement for shares of IAC common stock issued in connection with the exercise and vesting of IAC equity awards held by Angi Inc. employees. 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 office lease agreements. 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 September 30, 2022 and December 31, 2021, Vimeo had no outstanding payables or receivables due to or due from the Company pursuant to the tax sharing agreement. There were no payments to or refunds from Vimeo pursuant to this agreement for the three and nine months ended September 30, 2022, the three months ended September 30, 2021 and for the period following the Spin-off of May 25, 2021 through September 30, 2021. For the three and nine months ended September 30, 2022, Vimeo was charged $0.1 million and $0.3 million, respectively, by IAC for services rendered pursuant to the transition services agreement. For the three months ended September 30, 2021 and for the period following the Spin-off of May 25, 2021 through September 30, 2021, Vimeo was charged $0.4 million and $0.6 million, respectively, by IAC for services rendered pursuant to the transition service agreement. At September 30, 2022 and December 31, 2021, there were no outstanding receivables or payables pursuant to the transition services agreement. Vimeo had 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 was included in “Other current assets" in the balance sheet at December 31, 2021 and was paid in full in January 2022. At September 30, 2022, Vimeo had no outstanding payable due to the Company. For the three and nine months ended September 30, 2022, Vimeo was charged $0.7 million and $3.7 million, respectively, of rent pursuant to the lease agreements. For the three months ended September 30, 2021 and for the period following the Spin-off of May 25, 2021 through September 30, 2021, Vimeo was charged $1.1 million and $1.5 million, respectively, of rent pursuant to the lease agreements. At September 30, 2022, Vimeo had an outstanding payable due to the Company of $0.2 million pursuant to the lease agreements. This amount is included in "Other current assets" in the balance sheet at September 30, 2022 and is expected to be paid in the fourth quarter of 2022. At December 31, 2021, there were no outstanding receivables due from Vimeo pursuant to the lease agreements. IAC and Expedia The Company and Expedia each have a 50% ownership interest in three aircraft that may be used by both companies. Members of the aircraft flight crews are employed by an entity in which the Company and Expedia each have a 50% ownership interest. The Company and Expedia have agreed to share costs relating to flight crew compensation and benefits pro-rata according to each company’s respective usage of the aircraft, for which they are separately billed by the entity described above. The Company and Expedia are related parties because Mr. Diller serves as Chairman and Senior Executive of both IAC and Expedia. For the three and nine months ended September 30, 2022 and 2021, total payments made to this entity by the Company were not material. 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. For the three and nine months ended September 30, 2022, total payments made by Expedia to the Company pursuant to this arrangement were not material.

SUBSEQUENT EVENT	9 Months Ended
SUBSEQUENT EVENT	Sep. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENT	NOTE 16—SUBSEQUENT EVENT On November 9, 2022, the Company completed the sale of Bluecrew, which is included in the Emerging & Other segment, to EmployBridge, a provider of light industrial staffing solutions, for cash and stock with the Company becoming a minority shareholder in the combined company.

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations 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 Inc. and its subsidiaries (unless the context requires otherwise).
Basis of Presentation	Basis of Presentation The Company prepares its consolidated financial statements (collectively referred to herein as "financial statements") in accordance with United States ("U.S.") generally accepted accounting principles ("GAAP"). The 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. All intercompany transactions and balances between and among the Company and its subsidiaries have been eliminated. The unaudited financial statements have been prepared in accordance with GAAP for interim financial information and with the rules and regulations of the Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and notes required by GAAP for complete annual financial statements. In the opinion of management, the unaudited financial statements include all normal recurring adjustments considered necessary for a fair presentation. Interim results are not necessarily indicative of the results that may be expected for the full year. The unaudited interim financial statements should be read in conjunction with the annual audited financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021.
Accounting Estimates	Accounting Estimates Management of the Company is required to make certain estimates, judgments and assumptions during the preparation of its financial statements in accordance with GAAP. These estimates, judgments and assumptions impact the reported amounts of assets, liabilities, revenue and expenses and the related disclosure of assets and liabilities. Actual results could differ from these estimates. On an ongoing basis, the Company evaluates its estimates, judgments and assumptions, including those related to: the fair values of cash equivalents and marketable 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 capitalized software, equipment, buildings and leasehold improvements 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 thereto; 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, inflation 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.
General Revenue Recognition	General Revenue Recognition Revenue is recognized when control of the promised services or goods is transferred to the Company's customers and in 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 8—Segment Information." Deferred Revenue Deferred revenue consists of payments that are received or are contractually due in advance of the Company's performance obligation. The Company’s deferred revenue is reported on a contract-by-contract basis at the end of each reporting period. The Company classifies deferred revenue as current when the remaining term of the applicable subscription period or expected completion of its performance obligation is one year or less. The current and non-current deferred revenue balances are $165.5 million and $0.4 million, respectively, at December 31, 2021, and $137.7 million and $0.7 million, respectively, at December 31, 2020. During the nine months ended September 30, 2022, the Company recognized $147.3 million of revenue that was included in the deferred revenue balance at December 31, 2021. During the nine months ended September 30, 2021, the Company recognized $123.5 million of revenue that was included in the deferred revenue balance at December 31, 2020. The current and non-current deferred revenue balances are $158.8 million and $0.3 million, at September 30, 2022, respectively. Non-current deferred revenue is included in "Other long-term liabilities" in the balance sheet. Practical Expedients and Exemptions As permitted under the practical expedient available under ASU No. 2014-09, Revenue from Contracts with Customers, the Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts with variable consideration that is 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 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. Expenses related to third-party agent sales of magazine subscriptions are included in "Selling and marketing expense" in the statement of operations. 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 and are included in "Selling and marketing expense" in the statement of operations. 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 amortization of mobile app store fees is included in "Cost of revenue" in the statement of operations. 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.
Certain Risks and Concentrations - Services Agreement with Google (the "Services Agreement")	Certain Risks and Concentrations—Services Agreement with Google (the "Services Agreement")The Company and Google are parties to an amended Services Agreement, which expires on March 31, 2024 and provides 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 earns certain other advertising revenue from Google that is not attributable to the Services Agreement. A meaningful portion of the Company's net cash from operating activities attributable to continuing operations that it can freely access is attributable to revenue earned pursuant to the Services Agreement and other revenue earned from Google.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncements Not Yet Adopted by IAC 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	Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

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+ Details

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [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 at September 30, 2022 and December 31, 2021, respectively:


	September 30, 2022						December 31, 2021
	Sales Commissions		App Store Fees		Total		Sales Commissions		App Store Fees		Total
	(In thousands)
Current	$	49,421	$	9,052	$	58,473	$	39,669	$	9,023	$	48,692
Non-current	4,596		—		4,596		6,086		—		6,086
Total	$	54,017	$	9,052	$	63,069	$	45,755	$	9,023	$	54,778

BUSINESS COMBINATION (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, by Acquisition

The total purchase price was calculated and allocated as follows:



	(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 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:



	(In thousands)
Cash and cash equivalents	$	12,436
Accounts receivable	369,549
Other current assets	96,116
Leasehold improvements, equipment, buildings, land and capitalized software	274,026
Goodwill	1,468,032
Intangible assets	1,213,159
Other non-current assets	677,153
Total assets	4,110,471
Customer deposit liability	(142,206)
Other current liabilities	(401,857)
Deferred income taxes	(294,715)
Other non-current liabilities	(585,228)
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:



	(In thousands)		Useful Life (Years)
Indefinite-lived trade names and trademarks	$	450,150	Indefinite-lived
Advertiser relationships	297,000		5
Licensee relationships	171,000		3-6
Digital content	96,200		2-3
Subscriber relationships	71,109		1-2
Developed technology	66,200		2-3
Trade name and trademarks	61,500		1-5
Total identifiable intangible assets acquired	$	1,213,159

Schedule of Pro Forma Financial Information


	Three Months Ended September 30, 2021		Nine Months Ended September 30, 2021
	(In thousands, except per share data)
Revenue	$	1,437,989	$	4,047,635
Net earnings from continuing operations	$	54,186	$	618,622
Basic earnings per share from continuing operations	$	0.60	$	6.98
Diluted earnings per share from continuing operations	$	0.57	$	6.54
Net earnings attributable to IAC shareholders	$	53,829	$	619,880
Basic earnings per share attributable to IAC shareholders	$	0.60	$	6.96
Diluted earnings per share attributable to IAC shareholders	$	0.57	$	6.51

GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill and Intangible Assets, Net

Goodwill and intangible assets, net are as follows:


	September 30, 2022		December 31, 2021
	(In thousands)
Goodwill	$	3,008,244	$	3,226,610
Intangible assets with definite lives, net of accumulated amortization	588,679		735,743
Intangible assets with indefinite lives	693,824		679,149
Total goodwill and intangible assets, net	$	4,290,747	$	4,641,502

Schedule of Goodwill by Reportable Segment

The following table presents the balance of goodwill by reportable segment, including the changes in the carrying value of goodwill, for the nine months ended September 30, 2022:


	Balance at December 31, 2021		Deductions		Impairment		Foreign Exchange Translation		Balance at September 30, 2022
	(In thousands)
Dotdash Meredith	$	1,567,843	$	(115,994)	$	—	$	—	$	1,451,849
Angi Inc.	916,375		(816)		—		(12,089)		903,470
Emerging & Other	742,392		(2,719)		(86,748)		—		652,925
Total	$	3,226,610	$	(119,529)	$	(86,748)	$	(12,089)	$	3,008,244

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

Schedule of Intangible Assets with Definite Lives

At September 30, 2022 and December 31, 2021, intangible assets with definite lives are as follows:


	September 30, 2022
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted-Average Useful Life
	(In thousands)						(Years)
Advertiser relationships	$	297,000	$	(67,907)	$	229,093	5.0
Technology	198,429		(159,347)		39,082		3.5
Licensee relationships	171,000		(34,817)		136,183		4.9
Content	106,639		(50,834)		55,805		2.9
Trade names	101,594		(30,404)		71,190		5.5
Service professional relationships	97,143		(96,828)		315		3.0
Customer lists and user base	68,371		(39,526)		28,845		6.4
Subscriber relationships	56,300		(28,134)		28,166		2.0
Total	$	1,096,476	$	(507,797)	$	588,679	4.3


	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
Technology	133,318		(106,415)		26,903		4.2
Licensee relationships	150,000		(2,923)		147,077		4.9
Content	10,439		(10,439)		—		3.4
Trade names	145,598		(18,224)		127,374		5.1
Service professional relationships	98,789		(97,877)		912		3.0
Customer lists and user base	68,730		(32,606)		36,124		6.4
Subscriber relationships	73,700		(3,961)		69,739		2.0
Total	$	1,014,574	$	(278,831)	$	735,743	4.6

Schedule of Expected Amortization of Intangible Assets

At September 30, 2022, amortization of intangible assets with definite lives is estimated to be as follows:


	(In thousands)
Remainder of 2022	$	66,898
2023	207,069
2024	133,941
2025	84,295
2026	68,864
Thereafter	27,612
Total	$	588,679

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

DOTDASH MEREDITH RESTRUCTURING CHARGES, TRANSACTION-RELATED EXPENSES AND CHANGE-IN-CONTROL PAYMENTS (Tables)

9 Months Ended

Sep. 30, 2022

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Remaining Costs

A summary of the costs incurred, payments made and related accruals for the nine months ended September 30, 2022 is presented below:


	September 30, 2022
	Digital		Print		Other (a)		Total
	(In thousands)
Restructuring charge accruals
Charges incurred	$	29,090	$	26,051	$	5,696	$	60,837
Payments	(5,888)		(16,865)		(2,038)		(24,791)
Non-cash (b)	(21,309)		(425)		—		(21,734)
Restructuring accruals as of September 30, 2022	$	1,893	$	8,761	$	3,658	$	14,312

_____________________

(a) Other comprises unallocated corporate expenses, which are corporate overhead expenses not attributable to the Digital or Print segments.

(b) Includes $21.3 million impairment of ROU assets, leasehold improvements and furniture and equipment and $0.4 million related to the write-off of inventory.

A summary of the remaining costs is presented below:


	As of September 30, 2022
	Digital		Print		Other (a)		Total
	(In thousands)
Remaining estimated restructuring costs	$	64	$	352	$	551	$	967

Schedule of Restructuring Cost Allocation

The costs are allocated as follows in the statement of operations:


	Three Months Ended September 30, 2022		Nine Months Ended September 30, 2022
	(In thousands)
Cost of revenue	$	1,320	$	17,921
Selling and marketing expense	636		10,251
General and administrative expense	15,702		24,560
Product development expense	84		1,099
Depreciation	7,006		7,006
Total	$	24,748	$	60,837

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Marketable Securities

At September 30, 2022 and December 31, 2021, the fair value of marketable securities are as follows:


	September 30, 2022		December 31, 2021
	(In thousands)
Marketable equity securities	$	16,343	$	19,788

Total marketable securities	$	16,343	$	19,788

Schedule of Investment in MGM Resorts International

Investment in MGM Resorts International


	September 30, 2022		December 31, 2021
	(In thousands)
Investment in MGM Resorts International	$	1,923,585	$	2,649,442

Schedule of Long-term Investments

Long-term investments consist of:


	September 30, 2022		December 31, 2021
	(In thousands)
Equity securities without readily determinable fair values	$	307,047	$	324,649
Equity method investment	4,244		3,189
Total long-term investments	$	311,291	$	327,838

Schedule of Realized and Unrealized Gains and Losses


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Upward adjustments (gross unrealized pre-tax gains)	$	8,245	$	7,616	$	8,245	$	8,992
Downward adjustments including impairments (gross unrealized pre-tax losses)	—		(100)		(22,376)		(100)
Total	$	8,245	$	7,516	$	(14,131)	$	8,892

Realized and unrealized pre-tax gains and losses for the Company's investments without readily determinable fair values for the three and nine months ended September 30, 2022 and 2021 are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Realized pre-tax gains, net, for equity securities	$	11,840	$	3,022	$	12,302	$	3,103
Unrealized pre-tax gains (losses), net, on equity securities held	8,245		7,516		(14,131)		8,892
Total pre-tax gains (losses), net recognized	$	20,085	$	10,538	$	(1,829)	$	11,995

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

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


	September 30, 2022
	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	$	1,224,922	$	—	$	—	$	1,224,922

Time deposits	—		11,039		—		11,039
Marketable equity securities	16,343		—		—		16,343
Investment in MGM	1,923,585		—		—		1,923,585
Other non-current assets:
Warrant	—		—		130,612		130,612
Total	$	3,164,850	$	11,039	$	130,612	$	3,306,501


	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)

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

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


	Three Months Ended September 30,
	2022		2021
	Warrant			Warrant		Contingent Consideration Arrangements
	(In thousands)
Balance at July 1	$	122,145		$	60,532	$	—

Total net gains (losses):
Fair value adjustments included in earnings	8,467			47,075		(15,000)

Balance at September 30	$	130,612		$	107,607	$	(15,000)


	Nine Months Ended September 30,
	2022				2021
	Warrant		Contingent Consideration Arrangements		Warrant		Contingent Consideration Arrangements
	(In thousands)
Balance at January 1	$	109,294	$	(612)	$	5,276	$	—

Total net gains (losses):
Fair value adjustments included in earnings	21,318		612		102,331		(15,000)

Balance at September 30	$	130,612	$	—	$	107,607	$	(15,000)

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

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


	September 30, 2022				December 31, 2021
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
Current portion of long-term debt	$	(30,000)	$	(27,150)	$	(30,000)	$	(29,550)
Long-term debt, net(a)	$	(2,026,404)	$	(1,748,636)	$	(2,046,237)	$	(2,061,450)

_____________________

LONG-TERM DEBT (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consists of:


	September 30, 2022		December 31, 2021
	(In thousands)
Dotdash Meredith Debt
Dotdash Meredith Term Loan A ("Dotdash Meredith Term Loan A") due December 1, 2026	$	336,875	$	350,000
Dotdash Meredith Term Loan B ("Dotdash Meredith Term Loan B") due December 1, 2028	1,240,625		1,250,000
Total Dotdash Meredith long-term debt	1,577,500		1,600,000
Less: current portion of Dotdash Meredith long-term debt	30,000		30,000
Less: original issue discount	5,521		6,176
Less: unamortized debt issuance costs	10,673		12,139
Total Dotdash Meredith long-term debt, net	1,531,306		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, which commenced February 15, 2021	500,000		500,000


Less: unamortized debt issuance costs	4,902		5,448
Total ANGI Group long-term debt, net	495,098		494,552

Total long-term debt, net	$	2,026,404	$	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 (LOSS) INCOME (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Schedule of Accumulated Other Comprehensive (Loss) Income

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


	Three months ended September 30,
	2022		2021
	Foreign Currency Translation Adjustment		Foreign Currency Translation Adjustment
	(In thousands)
Balance at July 1	$	(12,852)	$	5,686
Other comprehensive loss before reclassifications	(17,112)		(1,083)
Amounts reclassified to earnings	—		—
Net current period other comprehensive loss	(17,112)		(1,083)
Accumulated other comprehensive loss allocated to noncontrolling interests during the period	4		24
Balance at September 30	$	(29,960)	$	4,627


	Nine Months Ended September 30,
	2022		2021
	Foreign Currency Translation Adjustment		Foreign Currency Translation Adjustment		Unrealized Gains (Losses) On Available-For-Sale Marketable Debt Securities		Accumulated Other Comprehensive (Loss) Income
	(In thousands)
Balance at January 1	$	4,397	$	(6,172)	$	2	$	(6,170)
Other comprehensive (loss) income before reclassifications	(34,362)		754		(2)		752
Amounts reclassified to earnings	—		10,032		—		10,032
Net current period other comprehensive (loss) income	(34,362)		10,786		(2)		10,784
Accumulated other comprehensive loss allocated to noncontrolling interests during the period	5		13		—		13
Balance at September 30	$	(29,960)	$	4,627	$	—	$	4,627

SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following table presents revenue by reportable segment:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Revenue
Dotdash Meredith
Digital	$	220,749	$	65,165	$	671,424	$	203,919
Print	251,471		—		801,756		—
Intersegment eliminations(a)	(5,135)		—		(16,100)		—
Total Dotdash Meredith	467,085		65,165		1,457,080		203,919
Angi Inc.	498,036		461,565		1,449,977		1,269,582
Search	156,719		228,445		578,287		593,086
Emerging & Other	180,820		168,923		508,903		473,735
Intersegment eliminations	(1,759)		(30)		(5,420)		(137)
Total	$	1,300,901	$	924,068	$	3,988,827	$	2,540,185

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Operating (loss) income:
Dotdash Meredith
Digital	$	(104,445)	$	7,082	$	(95,217)	$	44,383
Print	27,325		—		(31,109)		—
Other(f)	(18,378)		—		(52,924)		—
Total Dotdash Meredith(g)	(95,498)		7,082		(179,250)		44,383
Angi Inc.	(11,058)		(14,973)		(65,901)		(47,595)
Search	19,085		30,011		70,461		74,059
Emerging & Other	(1,577)		(22,239)		(114,402)		(23,946)
Corporate	(35,632)		(31,948)		(110,542)		(114,618)
Total	$	(124,680)	$	(32,067)	$	(399,634)	$	(67,717)

_____________________

(f) Other comprises unallocated corporate expenses, which are corporate overhead expenses not attributable to the Digital or Print segments.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Adjusted EBITDA(h):
Dotdash Meredith(i)
Digital	$	22,602	$	8,202	$	108,718	$	48,673
Print	$	23,097	$	—	$	18,882	$	—
Other(f)	$	(14,506)	$	—	$	(48,706)	$	—
Angi Inc.	$	22,882	$	12,395	$	29,402	$	31,139
Search	$	19,111	$	30,031	$	70,528	$	74,087
Emerging & Other	$	2,425	$	2,737	$	(13,719)	$	21,592
Corporate	$	(20,830)	$	(23,132)	$	(65,240)	$	(71,769)

_____________________

Schedule of Disaggregation of Segment Revenue

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Dotdash Meredith
Digital:
Display advertising revenue	$	148,309	$	42,911	$	442,950	$	125,014
Performance marketing revenue	46,089		21,881		144,127		77,432
Licensing and other revenue	26,351		373		84,347		1,473
Total digital revenue	220,749		65,165		671,424		203,919
Print:
Subscription revenue	97,373		—		339,276		—
Advertising revenue	64,446		—		208,399		—
Project and other revenue	39,419		—		114,698		—
Newsstand revenue	37,180		—		104,015		—
Performance marketing revenue	13,053		—		35,368		—
Total print revenue	251,471		—		801,756		—
Intersegment eliminations(a)	(5,135)		—		(16,100)		—
Total Dotdash Meredith revenue	$	467,085	$	65,165	$	1,457,080	$	203,919

(a) Includes intersegment eliminations related to digital performance marketing revenue of $5.1 million and $15.9 million for the three and nine months ended September 30, 2022.

Angi Inc.
North America
Angi Ads and Leads:
Consumer connection revenue(b)	$	260,242	$	238,421	$	732,075	$	699,867
Advertising revenue(c)	67,045		63,953		195,906		187,308
Membership subscription revenue(d)	14,795		17,079		46,586		51,026
Other revenue	5,658		6,703		16,127		21,412
Total Angi Ads and Leads revenue	347,740		326,156		990,694		959,613


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Angi Services revenue(e)	131,862		117,375		395,894		244,904
Total North America revenue	479,602		443,531		1,386,588		1,204,517
Europe
Consumer connection revenue(b)	15,576		14,530		54,320		54,226
Service professional membership subscription revenue	2,575		3,215		8,203		9,874
Advertising and other revenue	283		289		866		965
Total Europe revenue	18,434		18,034		63,389		65,065
Total Angi Inc. revenue	$	498,036	$	461,565	$	1,449,977	$	1,269,582

(b) Includes fees paid by service professionals for consumer matches.
(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.

Search
Advertising revenue
Google advertising revenue:	$	119,576	$	171,222	$	394,074	$	480,157
Non-Google advertising revenue	36,087		53,401		180,164		101,135
Total advertising revenue	155,663		224,623		574,238		581,292
Other revenue	1,056		3,822		4,049		11,794
Total Search revenue	$	156,719	$	228,445	$	578,287	$	593,086

Emerging & Other
Subscription revenue	$	91,405	$	96,763	$	278,722	$	268,993
Marketplace revenue	73,709		63,456		202,380		173,615
Media production and distribution revenue	8,954		730		9,558		11,142
Advertising revenue:
Non-Google advertising revenue	4,102		5,039		11,765		12,351
Google advertising revenue	535		862		1,659		1,983
Total advertising revenue	4,637		5,901		13,424		14,334
Service and other revenue	2,115		2,073		4,819		5,651
Total Emerging & Other revenue	$	180,820	$	168,923	$	508,903	$	473,735

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

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Revenue:
United States	$	1,209,748	$	796,808	$	3,684,184	$	2,156,061
All other countries	91,153		127,260		304,643		384,124
Total	$	1,300,901	$	924,068	$	3,988,827	$	2,540,185


	September 30, 2022		December 31, 2021
	(In thousands)
Long-lived assets (excluding goodwill, intangible assets, and ROU assets):
United States	$	576,534	$	562,628
All other countries	7,354		7,897
Total	$	583,888	$	570,525

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

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


	Three Months Ended September 30, 2022
	Operating (Loss) Income(g)		Stock-based Compensation Expense		Depreciation (g)(j)		Amortization of Intangibles(j)		Adjusted EBITDA(h)(i)
	(In thousands)
Dotdash Meredith
Digital	$	(104,445)	$	5,814	$	5,312	$	115,921	$	22,602
Print	27,325		$	391	$	(2,154)	$	(2,465)	$	23,097
Other(f)	(18,378)		$	53	$	3,819	$	—	$	(14,506)
Angi Inc.	(11,058)		$	12,376	$	17,759	$	3,805	$	22,882
Search	19,085		$	—	$	26	$	—	$	19,111
Emerging & Other	(1,577)		$	175	$	311	$	3,516	$	2,425
Corporate(k)	(35,632)		$	12,308	$	2,494	$	—	$	(20,830)
Total	(124,680)
Interest expense	(29,433)
Unrealized gain on investment in MGM Resorts International	42,523
Other income, net	19,678
Loss before income taxes	(91,912)
Income tax benefit	26,065
Net loss	(65,847)
Net loss attributable to noncontrolling interests	2,024
Net loss attributable to IAC shareholders	$	(63,823)

_____________________

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


	Three Months Ended September 30, 2021
	Operating Income (Loss)		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Arrangements		Adjusted EBITDA(h)
	(In thousands)

Dotdash Meredith	$	7,082	$	—	$	527	$	593	$	—	$	8,202


Angi Inc.	(14,973)		$	8,813	$	14,701	$	3,854	$	—	$	12,395
Search	30,011		$	—	$	20	$	—	$	—	$	30,031
Emerging & Other	(22,239)		$	25	$	331	$	9,620	$	15,000	$	2,737
Corporate(k)	(31,948)		$	6,600	$	2,216	$	—	$	—	$	(23,132)
Total	(32,067)
Interest expense	(6,032)
Unrealized gain on investment in MGM Resorts International	29,517
Other income, net	79,539
Earnings before income taxes	70,957
Income tax provision	(9,910)
Net earnings	61,047
Net earnings attributable to noncontrolling interests	(357)
Net earnings attributable to IAC shareholders	$	60,690


	Nine Months Ended September 30, 2022
	Operating (Loss) Income(g)		Stock-based Compensation Expense		Depreciation(g)		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Adjustments		Goodwill Impairment		Adjusted EBITDA(h)(i)
	(In thousands)
Dotdash Meredith
Digital	$	(95,217)	$	14,889	$	21,004	$	168,654	$	(612)	$	—	$	108,718
Print	(31,109)		$	659	$	8,010	$	41,322	$	—	$	—	$	18,882
Other(f)	(52,924)		$	92	$	4,126	$	—	$	—	$	—	$	(48,706)
Angi Inc.	(65,901)		$	38,778	$	45,112	$	11,413	$	—	$	—	$	29,402
Search	70,461		$	—	$	67	$	—	$	—	$	—	$	70,528
Emerging & Other	(114,402)		$	283	$	993	$	12,659	$	—	$	86,748	$	(13,719)
Corporate(k)	(110,542)		$	37,759	$	7,543	$	—	$	—	$	—	$	(65,240)
Total	(399,634)
Interest expense	(74,862)
Unrealized loss on investment in MGM Resorts International	(970,112)
Other expense, net	(63,048)
Loss before income taxes	(1,507,656)
Income tax benefit	325,517
Net loss	(1,182,139)
Net loss attributable to noncontrolling interests	13,388
Net loss attributable to IAC shareholders	$	(1,168,751)


	Nine Months Ended September 30, 2021
	Operating Income (Loss)		Stock-based Compensation Expense		Depreciation		Amortization of Intangibles		Acquisition-related Contingent Consideration Fair Value Adjustments		Adjusted EBITDA(h)
	(In thousands)

Dotdash Meredith	$	44,383	$	—	$	1,706	$	2,584	$	—	$	48,673


Angi Inc.	(47,595)		$	20,390	$	45,728	$	12,616	$	—	$	31,139
Search	74,059		$	—	$	28	$	—	$	—	$	74,087
Emerging & Other	(23,946)		$	75	$	1,121	$	29,342	$	15,000	$	21,592
Corporate(k)	(114,618)		$	37,339	$	5,510	$	—	$	—	$	(71,769)
Total	(67,717)
Interest expense	(18,463)
Unrealized gain on investment in MGM Resorts International	687,155
Other income, net	133,388
Earnings from continuing operations before income taxes	734,363
Income tax provision	(151,046)
Net earnings from continuing operations	583,317
Loss from discontinued operations, net of tax	(1,831)
Net earnings	581,486
Net loss attributable to noncontrolling interests	3,089
Net earnings attributable to IAC shareholders	$	584,575

PENSION AND POSTRETIREMENT BENEFIT PLANS (Tables)

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

Components of Net Periodic Benefit Costs

The following table presents the components of net periodic benefit costs for the pension and postretirement benefit plans the Company assumed in connection with the acquisition of Meredith:


	Three Months Ended September 30, 2022						Nine Months Ended September 30, 2022
	Pension				Postretirement		Pension				Postretirement
	Domestic		International		Domestic		Domestic		International		Domestic
	(In thousands)
Service cost	$	877	$	—	$	2	$	2,766	$	—	$	5
Interest cost	1,267		3,999		66		3,154		11,073		200
Expected return on plan assets	(308)		(4,252)		—		(2,484)		(12,668)		—
Actuarial (gain) loss recognition	(2,643)		—		—		7,490		68,552		—
Net periodic (credit) benefit costs	$	(807)	$	(253)	$	68	$	10,926	$	66,957	$	205

Summary of the Weighted Average Expected Return on Plan Assets


	September 30, 2022				December 31, 2021
	Pension
	Domestic		International		Domestic		International
Expected return on plan assets	3.15	%	2.20	%	6.00	%	1.90	%

(LOSS) EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

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

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands, except per share data)
Basic EPS:
Numerator:
Net (loss) earnings from continuing operations	$	(65,847)	$	61,047	$	(1,182,139)	$	583,317
Net loss (earnings) attributable to noncontrolling interests of continuing operations	2,024		(357)		13,388		3,275
Net earnings attributed to unvested participating security	—		(2,040)		—		(19,749)
Net (loss) earnings from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	(63,823)	$	58,650	$	(1,168,751)	$	566,843

Loss from discontinued operations, net of tax	$	—	$	—	$	—	$	(1,831)
Net earnings attributable to noncontrolling interests of discontinued operations	—		—		—		(186)
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)

Net (loss) earnings attributable to IAC Common Stock and Class B common stock shareholders	$	(63,823)	$	58,650	$	(1,168,751)	$	564,894

Denominator:
Weighted average basic IAC Common Stock and Class B common stock shares outstanding(a)	86,022		86,258		86,515		86,106

(Loss) earnings per share:
(Loss) earnings per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	(0.74)	$	0.68	$	(13.51)	$	6.58
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders	$	—	$	—	$	—	$	(0.02)
(Loss) earnings per share attributable to IAC Common Stock and Class B common stock shareholders	$	(0.74)	$	0.68	$	(13.51)	$	6.56


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands, except per share data)
Diluted EPS:
Numerator:
Net (loss) earnings from continuing operations	$	(65,847)	$	61,047	$	(1,182,139)	$	583,317
Net loss (earnings) attributable to noncontrolling interests of continuing operations	2,024		(357)		13,388		3,275
Net earnings attributed to unvested participating security	—		(1,938)		—		(18,494)
Impact from public subsidiaries' dilutive securities(b)	—		91		—		245
Net (loss) earnings from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	(63,823)	$	58,843	$	(1,168,751)	$	568,343

Loss from discontinued operations, net of tax	$	—	$	—	$	—	$	(1,831)
Net earnings attributable to noncontrolling interests of discontinued operations	—		—		—		(186)
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)

Net (loss) earnings attributable to IAC Common Stock and Class B common stock shareholders	$	(63,823)	$	58,843	$	(1,168,751)	$	566,390

Denominator:
Weighted average basic IAC Common Stock and Class B common stock shares outstanding(a)	86,022		86,258		86,515		86,106
Dilutive securities(b)(c)(d)	—		4,818		—		6,089
Denominator for earnings per share—weighted average shares(b)(c)(d)	86,022		91,076		86,515		92,195

(Loss) earnings per share:
(Loss) earnings per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders	$	(0.74)	$	0.65	$	(13.51)	$	6.16
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders	$	—	$	—	$	—	$	(0.02)
(Loss) earnings per share attributable to IAC Common Stock and Class B common stock shareholders	$	(0.74)	$	0.65	$	(13.51)	$	6.14

_____________________

DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Sep. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The components of the loss from discontinued operations for the period January 1, 2021 through May 25, 2021 in the statement of operations consisted of the following:


	January 1 through May 25, 2021
	(In thousands)
Revenue	$	145,514
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	39,995
Selling and marketing expense	54,774
General and administrative expense	23,343
Product development expense	35,651
Depreciation	182
Amortization of intangibles	2,983
Total operating costs and expenses	156,928
Operating loss from discontinued operations	(11,414)
Interest expense	(140)
Other income, net	10,172
Loss from discontinued operations before tax	(1,382)
Income tax expense	(449)
Loss from discontinued operations, net of tax	$	(1,831)

- 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.

+ References

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+ Details

FINANCIAL STATEMENT DETAILS (Tables)

9 Months Ended

Sep. 30, 2022

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:


	September 30, 2022		December 31, 2021		September 30, 2021		December 31, 2020
	(In thousands)
Cash and cash equivalents	$	1,607,384	$	2,118,730	$	3,404,913	$	3,366,176
Restricted cash included in other current assets	2,872		1,941		14,027		448
Restricted cash included in other non-current assets	6,815		1,193		1,217		449
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	—		—		—		110,037
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$	1,617,071	$	2,121,864	$	3,420,157	$	3,477,110

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:


	September 30, 2022		December 31, 2021		September 30, 2021		December 31, 2020
	(In thousands)
Cash and cash equivalents	$	1,607,384	$	2,118,730	$	3,404,913	$	3,366,176
Restricted cash included in other current assets	2,872		1,941		14,027		448
Restricted cash included in other non-current assets	6,815		1,193		1,217		449
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	—		—		—		110,037
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$	1,617,071	$	2,121,864	$	3,420,157	$	3,477,110

Schedule of Credit Losses

The following table presents the changes in the allowance for credit losses for the nine months ended September 30, 2022 and 2021, respectively:


	2022		2021
	(In thousands)
Balance at January 1	$	36,637	$	27,178
Current period provision for credit losses	87,657		66,428
Write-offs charged against the allowance	(73,807)		(55,942)
Recoveries collected	4,152		1,896
Balance at September 30	$	54,639	$	39,560

Schedule of Accumulated Amortization and Depreciation

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


Asset Category	September 30, 2022		December 31, 2021
	(In thousands)
ROU assets included in other non-current assets	$	129,487	$	87,052
Capitalized software, equipment, buildings and leasehold improvements	$	276,822	$	496,887
Intangible assets	$	507,797	$	278,831

Schedule of Other (Expense) Income, Net

Other income (expense), net


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Realized gain related to the sale of investments	$	11,840	$	3,022	$	12,302	$	3,103
Interest income	8,778		216		11,918		931
Unrealized increase in the estimated fair value of a warrant	8,467		47,075		21,318		102,331
Upward (downward) adjustments to the carrying value of equity securities without readily determinable fair values	8,245		7,516		(14,131)		8,892
Net periodic pension benefit credits (costs), other than the service cost component(a)	1,871		—		(75,317)		—
Unrealized (loss) gain related to marketable equity securities	(13,972)		25,794		(8,316)		25,794
Foreign exchange losses, net(b)	(5,196)		(858)		(11,425)		(11,976)
Realized (loss) gain on the sale of a marketable equity security	—		(3,536)		—		7,174
Loss on extinguishment of debt(c)	—		—		—		(1,110)
Other	(355)		310		603		(1,751)
Other income (expense), net	$	19,678	$	79,539	$	(63,048)	$	133,388

_____________________

(b) Includes $10.0 million in foreign exchange losses primarily related to the substantial liquidation of certain foreign subsidiaries in the nine months ended September 30, 2021.

(c) 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.

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Revenue and Other [Line Items]
Current deferred revenue	$ 158,767		$ 158,767		$ 165,451	$ 137,700
Non-current deferred revenue	300		300		400	$ 700
Deferred revenue recognized during period			147,300	$ 123,500
Consolidated revenue	1,300,901	$ 924,068	3,988,827	2,540,185
Customer concentration risk \| Revenue, Segment
Revenue and Other [Line Items]
Consolidated revenue	117,300	168,000	386,600	471,300
Customer concentration risk \| Revenue, Segment \| Ask Media Group \| Search
Revenue and Other [Line Items]
Consolidated revenue	97,300	137,900	315,400	382,500
Customer concentration risk \| Revenue, Segment \| Desktop \| Search
Revenue and Other [Line Items]
Consolidated revenue	20,000	30,100	71,200	88,800
Customer concentration risk \| Google Inc. \| Revenue, Segment
Revenue and Other [Line Items]
Consolidated revenue	$ 161,600	$ 185,600	$ 524,300	$ 527,000
Concentration risk (as a percent)	12.00%	20.00%	13.00%	21.00%
Customer concentration risk \| Google Inc. \| Accounts Receivable
Revenue and Other [Line Items]
Accounts receivable	$ 58,300		$ 58,300		$ 89,100
Customer concentration risk \| Services Agreement \| Revenue, Segment
Revenue and Other [Line Items]
Concentration risk (as a percent)	9.00%	18.00%	10.00%	19.00%

THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Capitalized Contract Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Capitalized Contract Cost [Line Items]
Current	$ 58,473	$ 48,692
Non-current	4,596	6,086
Total	63,069	54,778
Sales Commissions
Capitalized Contract Cost [Line Items]
Current	49,421	39,669
Non-current	4,596	6,086
Total	54,017	45,755
App Store Fees
Capitalized Contract Cost [Line Items]
Current	9,052	9,023
Non-current	0	0
Total	$ 9,052	$ 9,023

BUSINESS COMBINATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended	9 Months Ended
	Dec. 01, 2021	Sep. 30, 2021	Sep. 30, 2021
Business Acquisition [Line Items]
Increase in amortization expense		$ 38.2	$ 108.7
Meredith Corporation
Business Acquisition [Line Items]
Business acquisition, purchase price (in dollars per share)	$ 42.18
Adjustment accounts receivable and other receivables	$ 3.8
Contingency liability, including indemnification liabilities	$ 60.0

BUSINESS COMBINATION - 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 purchase price	$ 2,686,465

BUSINESS COMBINATION - Preliminary Estimated Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Dec. 01, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 3,008,244	$ 3,226,610		$ 1,660,102
Meredith Corporation
Business Acquisition [Line Items]
Cash and cash equivalents			$ 12,436
Accounts receivable			369,549
Other current assets			96,116
Leasehold improvements, equipment, buildings, land and capitalized software			274,026
Goodwill			1,468,032
Intangible assets			1,213,159
Other non-current assets			677,153
Total assets			4,110,471
Customer deposit liability			(142,206)
Other current liabilities			(401,857)
Deferred income taxes			(294,715)
Other non-current liabilities			(585,228)
Net assets acquired			$ 2,686,465

BUSINESS COMBINATION - 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	$ 1,213,159
Advertiser relationships
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 297,000
Advertiser relationships \| Minimum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	5 years
Licensee relationships
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 171,000
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
Digital content
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 96,200
Digital content \| Minimum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	2 years
Digital content \| Maximum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	3 years
Subscriber relationships
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 71,109
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
Developed technology
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 66,200
Developed technology \| Minimum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	2 years
Developed technology \| Maximum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	3 years
Trade name and trademarks
Acquired Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 61,500
Trade name and trademarks \| Minimum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	1 year
Trade name and trademarks \| Maximum
Acquired Intangible Assets [Line Items]
Weighted-Average Useful Life (Years)	5 years
Trade name and trademarks
Acquired Intangible Assets [Line Items]
Indefinite-lived trade names and trademarks	$ 450,150

BUSINESS COMBINATION - Pro-Forma Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Business Acquisition, Pro Forma Information [Abstract]
Revenue	$ 1,437,989	$ 4,047,635
Net earnings from continuing operations	$ 54,186	$ 618,622
Basic earnings per share from continuing operations (USD per share)	$ 0.60	$ 6.98
Diluted earnings per share from continuing operations (USD per share)	$ 0.57	$ 6.54
Net earnings attributable to IAC shareholders	$ 53,829	$ 619,880
Basic earnings per share attributable to IAC shareholders (USD per share)	$ 0.60	$ 6.96
Diluted earnings per share attributable to IAC shareholders (USD per share)	$ 0.57	$ 6.51

GOODWILL AND INTANGIBLE ASSETS - Summary (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 3,008,244	$ 3,226,610	$ 1,660,102
Intangible assets with definite lives, net of accumulated amortization	588,679	735,743
Intangible assets with indefinite lives	693,824	679,149
Total goodwill and intangible assets, net	$ 4,290,747	$ 4,641,502

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

GOODWILL AND INTANGIBLE ASSETS - Goodwill by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Goodwill
Balance at beginning of period			$ 3,226,610	$ 1,660,102	$ 1,660,102
Additions					1,594,665
Deductions			(119,529)		(25,376)
Impairment	$ 0	$ 0	(86,748)	0
Foreign Exchange Translation			(12,089)		(2,781)
Balance at end of period	3,008,244		3,008,244		3,226,610
Dotdash Meredith
Goodwill
Balance at beginning of period			1,567,843
Additions					1,567,843
Deductions			(115,994)		0
Impairment			0
Balance at end of period	1,451,849		1,451,849		1,567,843
Angi Inc.
Goodwill
Balance at beginning of period			916,375	892,133	892,133
Additions					26,822
Deductions			(816)		0
Impairment			0
Foreign Exchange Translation			(12,089)		(2,580)
Balance at end of period	903,470		903,470		916,375
Emerging & Other
Goodwill
Balance at beginning of period			742,392	$ 767,969	767,969
Additions					0
Deductions			(2,719)		(25,376)
Impairment			(86,748)
Foreign Exchange Translation					(201)
Balance at end of period	$ 652,925		$ 652,925		$ 742,392

- Definition

+ References + Details

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Goodwill [Line Items]
Goodwill impairment	$ 0		$ 0	$ 86,748	$ 0
Goodwill	3,008,244			3,008,244		$ 3,226,610	$ 1,660,102
Emerging & Other
Goodwill [Line Items]
Goodwill impairment				86,748
Goodwill	652,925			652,925		742,392	$ 767,969
Search
Goodwill [Line Items]
Accumulated impairment on goodwill	981,300			981,300		981,300
Dotdash Meredith
Goodwill [Line Items]
Goodwill impairment				0
Goodwill	1,451,849			1,451,849		1,567,843
Accumulated impairment on goodwill	198,300			198,300		$ 198,300
Mosaic Group
Goodwill [Line Items]
Goodwill	153,600			153,600
Carrying amount of goodwill for which excess of fair value over carrying value is less than 20%	644,500			644,500
Mosaic Group \| Discount Rate
Goodwill [Line Items]
Measurement input (as a percent)		0.160
Mosaic Group \| Emerging & Other
Goodwill [Line Items]
Goodwill impairment		$ 86,700
Accumulated impairment on goodwill	$ 86,700			$ 86,700

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets with Definite Lives (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Intangible assets with definite lives
Gross Carrying Amount	$ 1,096,476	$ 1,014,574
Accumulated Amortization	(507,797)	(278,831)
Total	$ 588,679	$ 735,743
Weighted-Average Useful Life	4 years 3 months 18 days	4 years 7 months 6 days
Advertiser relationships
Intangible assets with definite lives
Gross Carrying Amount	$ 297,000	$ 334,000
Accumulated Amortization	(67,907)	(6,386)
Total	$ 229,093	$ 327,614
Weighted-Average Useful Life	5 years	5 years 2 months 12 days
Technology
Intangible assets with definite lives
Gross Carrying Amount	$ 198,429	$ 133,318
Accumulated Amortization	(159,347)	(106,415)
Total	$ 39,082	$ 26,903
Weighted-Average Useful Life	3 years 6 months	4 years 2 months 12 days
Licensee relationships
Intangible assets with definite lives
Gross Carrying Amount	$ 171,000	$ 150,000
Accumulated Amortization	(34,817)	(2,923)
Total	$ 136,183	$ 147,077
Weighted-Average Useful Life	4 years 10 months 24 days	4 years 10 months 24 days
Content
Intangible assets with definite lives
Gross Carrying Amount	$ 106,639	$ 10,439
Accumulated Amortization	(50,834)	$ (10,439)
Total	$ 55,805
Weighted-Average Useful Life	2 years 10 months 24 days	3 years 4 months 24 days
Trade names
Intangible assets with definite lives
Gross Carrying Amount	$ 101,594	$ 145,598
Accumulated Amortization	(30,404)	(18,224)
Total	$ 71,190	$ 127,374
Weighted-Average Useful Life	5 years 6 months	5 years 1 month 6 days
Service professional relationships
Intangible assets with definite lives
Gross Carrying Amount	$ 97,143	$ 98,789
Accumulated Amortization	(96,828)	(97,877)
Total	$ 315	$ 912
Weighted-Average Useful Life	3 years	3 years
Customer lists and user base
Intangible assets with definite lives
Gross Carrying Amount	$ 68,371	$ 68,730
Accumulated Amortization	(39,526)	(32,606)
Total	$ 28,845	$ 36,124
Weighted-Average Useful Life	6 years 4 months 24 days	6 years 4 months 24 days
Subscriber relationships
Intangible assets with definite lives
Gross Carrying Amount	$ 56,300	$ 73,700
Accumulated Amortization	(28,134)	(3,961)
Total	$ 28,166	$ 69,739
Weighted-Average Useful Life	2 years	2 years

GOODWILL AND INTANGIBLE ASSETS - Expected Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 66,898
2023	207,069
2024	133,941
2025	84,295
2026	68,864
Thereafter	27,612
Total	$ 588,679	$ 735,743

DOTDASH MEREDITH RESTRUCTURING CHARGES, TRANSACTION-RELATED EXPENSES AND CHANGE-IN-CONTROL PAYMENTS - Narrative (Details) - USD ($) $ in Thousands			1 Months Ended	3 Months Ended	9 Months Ended	18 Months Ended
	Oct. 03, 2022	Jul. 01, 2022	Dec. 31, 2021	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Charges incurred				$ 24,700	$ 60,800
Severance costs				3,400	36,500
Impairment charges				21,300	21,300
Impairment charges related to impairment of a ROU asset				14,300	14,300
Impairment of leasehold improvements				7,000	7,000
Payments					24,791
Other
Restructuring Cost and Reserve [Line Items]
Charges incurred				17,700	53,800
Payments					2,038
Transaction-related costs				$ 800	$ 6,000
Dotdash Meredith
Restructuring Cost and Reserve [Line Items]
Payments made for change in control		$ 83,100	$ 60,100
Dotdash Meredith \| Subsequent Event
Restructuring Cost and Reserve [Line Items]
Payments made for change in control	$ 4,300
Forecast
Restructuring Cost and Reserve [Line Items]
Payments						$ 1,000

DOTDASH MEREDITH RESTRUCTURING CHARGES, TRANSACTION-RELATED EXPENSES AND CHANGE-IN-CONTROL PAYMENTS - Restructuring Accrual and Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Restructuring charge accruals
Charges incurred		$ 60,837
Payments		(24,791)
Non-cash		(21,734)
Restructuring accruals as of September 30, 2022	$ 14,312	14,312
Impairment charges	21,300	21,300
Inventory write-off		400
Digital
Restructuring charge accruals
Charges incurred		29,090
Payments		(5,888)
Non-cash		(21,309)
Restructuring accruals as of September 30, 2022	1,893	1,893
Print
Restructuring charge accruals
Charges incurred		26,051
Payments		(16,865)
Non-cash		(425)
Restructuring accruals as of September 30, 2022	8,761	8,761
Other
Restructuring charge accruals
Charges incurred		5,696
Payments		(2,038)
Non-cash		0
Restructuring accruals as of September 30, 2022	$ 3,658	$ 3,658

DOTDASH MEREDITH RESTRUCTURING CHARGES, TRANSACTION-RELATED EXPENSES AND CHANGE-IN-CONTROL PAYMENTS - Allocation of Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 24,748	$ 60,837
Cost of revenue
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1,320	17,921
Selling and marketing expense
Restructuring Cost and Reserve [Line Items]
Restructuring costs	636	10,251
General and administrative expense
Restructuring Cost and Reserve [Line Items]
Restructuring costs	15,702	24,560
Product development expense
Restructuring Cost and Reserve [Line Items]
Restructuring costs	84	1,099
Depreciation
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 7,006	$ 7,006

DOTDASH MEREDITH RESTRUCTURING CHARGES, TRANSACTION-RELATED EXPENSES AND CHANGE-IN-CONTROL PAYMENTS - Remaining Estimated Restructuring Costs (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Restructuring Cost and Reserve [Line Items]
Remaining estimated restructuring costs	$ 967
Digital
Restructuring Cost and Reserve [Line Items]
Remaining estimated restructuring costs	64
Print
Restructuring Cost and Reserve [Line Items]
Remaining estimated restructuring costs	352
Other
Restructuring Cost and Reserve [Line Items]
Remaining estimated restructuring costs	$ 551

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Fair Value of Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Marketable equity securities	$ 16,343	$ 19,788
Total marketable securities	$ 16,343	$ 19,788

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Narrative (Details) $ in Thousands, shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) investment shares	Sep. 30, 2021 USD ($)	Oct. 31, 2022 shares	Dec. 31, 2021 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of investments in marketable equity securities \| investment			2
Unrealized (loss) gain related to marketable equity securities	$ (13,972)	$ 25,794	$ (8,316)	$ 25,794
Realized pre-tax gains, net, for equity securities	0	(3,536)	0	7,174
Unrealized gain (loss) on investment in MGM Resorts International	42,523	29,517	(970,112)	687,155
Total upward adjustments to equity securities without readily determinable fair value	36,900		36,900
Total downward adjustments to equity securities without readily determinable fair value	61,000		61,000
Contingent consideration arrangement liability						$ 612
Acquisition-related contingent consideration fair value adjustments		15,000
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration arrangement liability	7,000		$ 7,000
MGM \| Subsequent Event
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ownership percentage					16.90%
MGM
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of equity securities purchased (in shares) \| shares			5.7
Payments to acquire additional MGM shares			$ 244,300
Unrealized gain (loss) on investment in MGM Resorts International	42,500	$ 29,500	(970,100)	$ 687,200
Cumulative unrealized net pre-tax gain	$ 659,700		$ 659,700
MGM \| Subsequent Event
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total number of equity securities owned (in shares) \| shares					64.7
Turo
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ownership interest in equity method investment (as a percent)	26.70%		26.70%

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Investments in MGM Resorts International (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Investment in MGM Resorts International	$ 1,923,585	$ 2,649,442

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Long-term Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Equity securities without readily determinable fair values	$ 307,047	$ 324,649
Equity method investment	4,244	3,189
Long-term investments	$ 311,291	$ 327,838

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Realized and Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Adjustments to the Carrying Value of Equity Securities Without Readily Determinable Fair Values
Upward adjustments (gross unrealized pre-tax gains)	$ 8,245	$ 7,616	$ 8,245	$ 8,992
Downward adjustments including impairments (gross unrealized pre-tax losses)	0	(100)	(22,376)	(100)
Total	8,245	7,516	(14,131)	8,892
Equity Securities without Readily Determinable Fair Values, Realized and Unrealized Gains (Losses)
Realized pre-tax gains, net, for equity securities	11,840	3,022	12,302	3,103
Unrealized pre-tax gains (losses), net, on equity securities held	8,245	7,516	(14,131)	8,892
Total pre-tax gains (losses), net recognized	$ 20,085	$ 10,538	$ (1,829)	$ 11,995

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets:
Investment in MGM	$ 1,923,585	$ 2,649,442
Other non-current assets	850,899	1,037,067
Total assets	3,306,501	4,445,502
Liabilities:
Contingent consideration arrangements		(612)
Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Investment in MGM	1,923,585	2,649,442
Total assets	3,164,850	4,330,151
Significant Other Observable Inputs (Level 2)
Assets:
Investment in MGM	0	0
Total assets	11,039	6,057
Significant Unobservable Inputs (Level 3)
Assets:
Investment in MGM	0	0
Total assets	130,612	109,294
Liabilities:
Contingent consideration arrangements		(612)
Money market funds
Assets:
Cash equivalents	1,224,922	1,660,921
Money market funds \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Cash equivalents	1,224,922	1,660,921
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	11,039	6,057
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	11,039	6,057
Time deposits \| Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	0	0
Marketable equity securities
Assets:
Marketable equity securities	16,343	19,788
Marketable equity securities \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Marketable equity securities	16,343	19,788
Marketable equity securities \| Significant Other Observable Inputs (Level 2)
Assets:
Marketable equity securities	0	0
Marketable equity securities \| Significant Unobservable Inputs (Level 3)
Assets:
Marketable equity securities	0	0
Warrant
Assets:
Other non-current assets	130,612	109,294
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	$ 130,612	$ 109,294

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Contingent Consideration Arrangement
Contingent Consideration Arrangements
Balance at beginning of period		$ 0	$ (612)	$ 0
Fair value adjustments included in earnings		(15,000)	612	(15,000)
Balance at end of period	$ 0	(15,000)	0	(15,000)
Warrant
Warrant
Balance at beginning of period	122,145	60,532	109,294	5,276
Fair value adjustments included in earnings	8,467	47,075	21,318	102,331
Balance at end of period	$ 130,612	$ 107,607	$ 130,612	$ 107,607

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current portion of long-term debt	$ (30,000)	$ (30,000)
Long-term debt, net	(2,026,404)	(2,046,237)
Unamortized original issue discount and debt issuance costs	21,100	23,800
Carrying Value
Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current portion of long-term debt	(30,000)	(30,000)
Long-term debt, net	(2,026,404)	(2,046,237)
Fair Value
Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current portion of long-term debt	(27,150)	(29,550)
Long-term debt, net	$ (1,748,636)	$ (2,061,450)

LONG-TERM DEBT - Summary (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Less: current portion of Dotdash Meredith long-term debt	$ 30,000	$ 30,000
Long-term debt, net	$ 2,026,404	$ 2,046,237
Term Loan \| Dotdash Meredith Term Loan A Facility
Debt Instrument [Line Items]
Interest rate on debt instrument (as a percent)	4.86%	2.15%
Term Loan \| Dotdash Meredith Term Loan B Facility
Debt Instrument [Line Items]
Interest rate on debt instrument (as a percent)	6.61%	4.50%
Dotdash Meredith
Debt Instrument [Line Items]
Long-term debt	$ 1,577,500	$ 1,600,000
Less: current portion of Dotdash Meredith long-term debt	30,000	30,000
Less: original issue discount	5,521	6,176
Less: unamortized debt issuance costs	10,673	12,139
Long-term debt, net	1,531,306	1,551,685
Dotdash Meredith \| Term Loan \| Dotdash Meredith Term Loan A Facility
Debt Instrument [Line Items]
Long-term debt	336,875	350,000
Dotdash Meredith \| Term Loan \| Dotdash Meredith Term Loan B Facility
Debt Instrument [Line Items]
Long-term debt	1,240,625	1,250,000
Angi Inc.
Debt Instrument [Line Items]
Less: unamortized debt issuance costs	4,902	5,448
Long-term debt, net	495,098	494,552
Angi Inc. \| Senior Notes \| ANGI 3.875% Senior Notes
Debt Instrument [Line Items]
Long-term debt	$ 500,000	$ 500,000
Interest rate on debt instrument (as a percent)	3.875%

LONG-TERM DEBT - Narrative (Details)			9 Months Ended		11 Months Ended	12 Months Ended		37 Months Ended	83 Months Ended
LONG-TERM DEBT - Narrative (Details)	Sep. 30, 2022 USD ($)	Dec. 01, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 01, 2026 USD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2024 USD ($)	Dec. 01, 2028 USD ($)	Nov. 05, 2018 USD ($)
Debt Instrument [Line Items]
Principal payments on ANGI Group Term Loan			$ 0	$ 220,000,000
Dotdash Meredith Credit Agreement \| Term Loan
Debt Instrument [Line Items]
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
Consolidated net leverage ratio (no greater than)	5.5
Debt covenant, net leverage ratio that would limit dividends			4.0
Dotdash Meredith Term Loan A Facility \| Term Loan
Debt Instrument [Line Items]
Term of debt instrument (years)		5 years
Face amount of debt instrument		$ 350,000,000
Interest rate on debt instrument (as a percent)	4.86%		4.86%				2.15%
Dotdash Meredith Term Loan A Facility \| 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 Facility \| Term Loan \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			2.25%				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
Interest rate on debt instrument (as a percent)	6.61%		6.61%				4.50%
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		$ 0				$ 0
Commitment fee (in basis points)			0.40%				0.35%
ANGI 3.875% Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Maximum leverage ratio	3.75		3.75
ANGI Group Credit Facility
Debt Instrument [Line Items]
Principal payments on ANGI Group Term Loan				$ 220,000,000
ANGI Group Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity										$ 250,000,000

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	$ 6,625,163,000	$ 7,745,148,000	$ 7,748,960,000	$ 7,150,928,000
Total other comprehensive (loss) income, net of income taxes	(18,173,000)	(1,560,000)	(36,266,000)	11,258,000
Balance at end of period	6,538,103,000	7,776,143,000	6,538,103,000	7,776,143,000
Tax provision (benefit) on accumulated other comprehensive (loss) income	0	0	0	0
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	(12,852,000)	5,686,000	4,397,000	(6,172,000)
Balance at end of period	(29,960,000)	4,627,000	(29,960,000)	4,627,000
Foreign Currency Translation Adjustment including portion attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other comprehensive loss before reclassifications	(17,112,000)	(1,083,000)	(34,362,000)	754,000
Amounts reclassified to earnings	0	0	0	10,032,000
Total other comprehensive (loss) income, net of income taxes	(17,112,000)	(1,083,000)	(34,362,000)	10,786,000
Foreign Currency Translation Adjustment attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Total other comprehensive (loss) income, net of income taxes	4,000	24,000	5,000	13,000
Unrealized Gains (Losses) On Available-For-Sale Marketable Debt Securities
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period				2,000
Balance at end of period		0		0
Unrealized Gains (Losses) on Available-for-Sale Debt Securities including Portion Attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other comprehensive loss before reclassifications				(2,000)
Amounts reclassified to earnings				0
Total other comprehensive (loss) income, net of income taxes				(2,000)
Unrealized Gains (Losses) on Available-for-Sale Debt Securities attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Total other comprehensive (loss) income, net of income taxes				0
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	(12,852,000)	5,686,000	4,397,000	(6,170,000)
Balance at end of period	$ (29,960,000)	$ 4,627,000	$ (29,960,000)	4,627,000
Accumulated Other Comprehensive (Loss) Income including portion attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Other comprehensive loss before reclassifications				752,000
Amounts reclassified to earnings				10,032,000
Total other comprehensive (loss) income, net of income taxes				10,784,000
Accumulated Other Comprehensive (Loss) Income attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Total other comprehensive (loss) income, net of income taxes				$ 13,000

SEGMENT INFORMATION - Revenue by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Revenue	$ 1,300,901	$ 924,068	$ 3,988,827	$ 2,540,185
Operating Segments \| Dotdash Meredith
Segment Reporting Information [Line Items]
Revenue	467,085	65,165	1,457,080	203,919
Operating Segments \| Dotdash Meredith \| Digital
Segment Reporting Information [Line Items]
Revenue	220,749	65,165	671,424	203,919
Operating Segments \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue	251,471	0	801,756	0
Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	498,036	461,565	1,449,977	1,269,582
Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenue	156,719	228,445	578,287	593,086
Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	180,820	168,923	508,903	473,735
Inter-segment eliminations
Segment Reporting Information [Line Items]
Revenue	(1,759)	(30)	(5,420)	(137)
Inter-segment eliminations \| Dotdash Meredith
Segment Reporting Information [Line Items]
Revenue	(5,135)	0	(16,100)	0
Inter-segment eliminations \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue	$ (5,135)	$ 0	$ (16,100)	$ 0

SEGMENT INFORMATION - Revenue Disaggregated by Service (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Revenue	$ 1,300,901	$ 924,068	$ 3,988,827	$ 2,540,185
Operating Segments \| Dotdash Meredith
Segment Reporting Information [Line Items]
Revenue	467,085	65,165	1,457,080	203,919
Operating Segments \| Dotdash Meredith \| Digital
Segment Reporting Information [Line Items]
Revenue	220,749	65,165	671,424	203,919
Operating Segments \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue	251,471	0	801,756	0
Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	498,036	461,565	1,449,977	1,269,582
Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenue	156,719	228,445	578,287	593,086
Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	180,820	168,923	508,903	473,735
Inter-segment eliminations
Segment Reporting Information [Line Items]
Revenue	(1,759)	(30)	(5,420)	(137)
Inter-segment eliminations \| Dotdash Meredith
Segment Reporting Information [Line Items]
Revenue	(5,135)	0	(16,100)	0
Inter-segment eliminations \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue	(5,135)	0	(16,100)	0
North America \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	479,602	443,531	1,386,588	1,204,517
Europe \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	18,434	18,034	63,389	65,065
Display advertising \| Operating Segments \| Dotdash Meredith \| Digital
Segment Reporting Information [Line Items]
Revenue	148,309	42,911	442,950	125,014
Performance marketing \| Operating Segments \| Dotdash Meredith \| Digital
Segment Reporting Information [Line Items]
Revenue	46,089	21,881	144,127	77,432
Performance marketing \| Operating Segments \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue	13,053	0	35,368	0
Performance marketing \| Inter-segment eliminations \| Dotdash Meredith \| Digital
Segment Reporting Information [Line Items]
Revenue	(5,100)		(15,900)
Licensing and other \| Operating Segments \| Dotdash Meredith \| Digital
Segment Reporting Information [Line Items]
Revenue	26,351	373	84,347	1,473
Subscription \| Operating Segments \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue	97,373	0	339,276	0
Newsstand \| Operating Segments \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue	37,180	0	104,015	0
Project and Other Print \| Operating Segments \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue	39,419	0	114,698	0
Advertising \| Operating Segments \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Revenue	64,446	0	208,399	0
Advertising \| Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenue	155,663	224,623	574,238	581,292
Advertising \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	4,637	5,901	13,424	14,334
Google advertising \| Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenue	119,576	171,222	394,074	480,157
Google advertising \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	535	862	1,659	1,983
Non-Google advertising \| Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenue	36,087	53,401	180,164	101,135
Non-Google advertising \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	4,102	5,039	11,765	12,351
Ads and Leads \| North America \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	347,740	326,156	990,694	959,613
Consumer connection \| North America \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	260,242	238,421	732,075	699,867
Consumer connection \| Europe \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	15,576	14,530	54,320	54,226
Advertising \| North America \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	67,045	63,953	195,906	187,308
Membership subscription \| North America \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	14,795	17,079	46,586	51,026
Other \| North America \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	5,658	6,703	16,127	21,412
Angi Services \| North America \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	131,862	117,375	395,894	244,904
Service professional membership subscription \| Europe \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	2,575	3,215	8,203	9,874
Advertising and other \| Europe \| Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Revenue	283	289	866	965
Other \| Operating Segments \| Search
Segment Reporting Information [Line Items]
Revenue	1,056	3,822	4,049	11,794
Subscription \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	91,405	96,763	278,722	268,993
Marketplace \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	73,709	63,456	202,380	173,615
Media production and distribution \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	8,954	730	9,558	11,142
Service and other \| Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Revenue	$ 2,115	$ 2,073	$ 4,819	$ 5,651

SEGMENT INFORMATION - Revenue and Long-Lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Revenue and Long-lived Assets by Geography
Revenue	$ 1,300,901	$ 924,068	$ 3,988,827	$ 2,540,185
Long-lived assets (excluding goodwill, intangible assets and ROU assets)	583,888		583,888		$ 570,525
United States
Revenue and Long-lived Assets by Geography
Revenue	1,209,748	796,808	3,684,184	2,156,061
Long-lived assets (excluding goodwill, intangible assets and ROU assets)	576,534		576,534		562,628
All other countries
Revenue and Long-lived Assets by Geography
Revenue	91,153	$ 127,260	304,643	$ 384,124
Long-lived assets (excluding goodwill, intangible assets and ROU assets)	$ 7,354		$ 7,354		$ 7,897

- 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
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-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (f)
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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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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

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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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (SX 210.5-03(1))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

+ Details

SEGMENT INFORMATION - Operating Income (Loss) and Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Operating Income (Loss)	$ (124,680)	$ (32,067)	$ (399,634)	$ (67,717)
Charges incurred	24,700		60,800
Impairment charges	7,000		7,000
Other
Segment Reporting Information [Line Items]
Charges incurred	17,700		53,800
Transaction-related costs	800		6,000
Operating Segments \| Dotdash Meredith
Segment Reporting Information [Line Items]
Operating Income (Loss)	(95,498)	7,082	(179,250)	44,383
Adjusted EBITDA		8,202		48,673
Operating Segments \| Dotdash Meredith \| Digital
Segment Reporting Information [Line Items]
Operating Income (Loss)	(104,445)	7,082	(95,217)	44,383
Adjusted EBITDA	22,602	8,202	108,718	48,673
Operating Segments \| Dotdash Meredith \| Print
Segment Reporting Information [Line Items]
Operating Income (Loss)	27,325		(31,109)
Adjusted EBITDA	23,097	0	18,882	0
Operating Segments \| Dotdash Meredith \| Other
Segment Reporting Information [Line Items]
Operating Income (Loss)	(18,378)		(52,924)
Adjusted EBITDA	(14,506)	0	(48,706)	0
Operating Segments \| Angi Inc.
Segment Reporting Information [Line Items]
Operating Income (Loss)	(11,058)	(14,973)	(65,901)	(47,595)
Adjusted EBITDA	22,882	12,395	29,402	31,139
Operating Segments \| Search
Segment Reporting Information [Line Items]
Operating Income (Loss)	19,085	30,011	70,461	74,059
Adjusted EBITDA	19,111	30,031	70,528	74,087
Operating Segments \| Emerging & Other
Segment Reporting Information [Line Items]
Operating Income (Loss)	(1,577)	(22,239)	(114,402)	(23,946)
Adjusted EBITDA	2,425	2,737	(13,719)	21,592
Corporate
Segment Reporting Information [Line Items]
Operating Income (Loss)	(35,632)	(31,948)	(110,542)	(114,618)
Adjusted EBITDA	$ (20,830)	$ (23,132)	$ (65,240)	$ (71,769)

SEGMENT INFORMATION - Reconciliation of Adjusted EBITDA to Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	$ (124,680)	$ (32,067)	$ (399,634)	$ (67,717)
Stock-based compensation expense	31,117	15,438	92,460	57,804
Depreciation			86,855	54,093
Amortization of intangibles	120,777	14,067	234,048	44,542
Acquisition-related Contingent Consideration Fair Value Adjustments		(15,000)
Goodwill impairment	0	0	86,748	0
Interest expense	(29,433)	(6,032)	(74,862)	(18,463)
Unrealized gain (loss) on investment in MGM Resorts International	42,523	29,517	(970,112)	687,155
Other income (expense), net	19,678	79,539	(63,048)	133,388
(Loss) earnings from continuing operations before income taxes	(91,912)	70,957	(1,507,656)	734,363
Income tax benefit (provision)	26,065	(9,910)	325,517	(151,046)
Net (loss) earnings from continuing operations	(65,847)	61,047	(1,182,139)	583,317
Loss from discontinued operations, net of tax	0	0	0	(1,831)
Net (loss) earnings	(65,847)	61,047	(1,182,139)	581,486
Net loss (earnings) attributable to noncontrolling interests	2,024	(357)	13,388	3,089
Net (loss) earnings attributable to IAC shareholders	(63,823)	60,690	(1,168,751)	584,575
Dotdash Meredith
Segment Reporting, Other Significant Reconciling Item
Goodwill impairment			0
Angi Inc.
Segment Reporting, Other Significant Reconciling Item
Goodwill impairment			0
Emerging & Other
Segment Reporting, Other Significant Reconciling Item
Goodwill impairment			86,748
Operating Segments \| Dotdash Meredith
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	(95,498)	7,082	(179,250)	44,383
Stock-based compensation expense		0		0
Depreciation		527		1,706
Amortization of intangibles		593		2,584
Acquisition-related Contingent Consideration Fair Value Adjustments		0		0
Adjusted EBITDA		8,202		48,673
Operating Segments \| Dotdash Meredith \| Digital
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	(104,445)	7,082	(95,217)	44,383
Stock-based compensation expense	5,814		14,889
Depreciation	5,312		21,004
Amortization of intangibles	115,921		168,654
Acquisition-related Contingent Consideration Fair Value Adjustments			(612)
Adjusted EBITDA	22,602	8,202	108,718	48,673
Operating Segments \| Dotdash Meredith \| Print
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	27,325		(31,109)
Stock-based compensation expense	391		659
Depreciation	(2,154)		8,010
Amortization of intangibles	(2,465)		41,322
Acquisition-related Contingent Consideration Fair Value Adjustments			0
Adjusted EBITDA	23,097	0	18,882	0
Operating Segments \| Dotdash Meredith \| Other
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	(18,378)		(52,924)
Stock-based compensation expense	53		92
Depreciation	3,819		4,126
Amortization of intangibles	0		0
Acquisition-related Contingent Consideration Fair Value Adjustments			0
Adjusted EBITDA	(14,506)	0	(48,706)	0
Operating Segments \| Angi Inc.
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	(11,058)	(14,973)	(65,901)	(47,595)
Stock-based compensation expense	12,376	8,813	38,778	20,390
Depreciation	17,759	14,701	45,112	45,728
Amortization of intangibles	3,805	3,854	11,413	12,616
Acquisition-related Contingent Consideration Fair Value Adjustments		0	0	0
Goodwill impairment			0
Adjusted EBITDA	22,882	12,395	29,402	31,139
Operating Segments \| Search
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	19,085	30,011	70,461	74,059
Stock-based compensation expense	0	0	0	0
Depreciation	26	20	67	28
Amortization of intangibles	0	0	0	0
Acquisition-related Contingent Consideration Fair Value Adjustments		0	0	0
Goodwill impairment			0
Adjusted EBITDA	19,111	30,031	70,528	74,087
Operating Segments \| Emerging & Other
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	(1,577)	(22,239)	(114,402)	(23,946)
Stock-based compensation expense	175	25	283	75
Depreciation	311	331	993	1,121
Amortization of intangibles	3,516	9,620	12,659	29,342
Acquisition-related Contingent Consideration Fair Value Adjustments		15,000	0	15,000
Goodwill impairment			86,748
Adjusted EBITDA	2,425	2,737	(13,719)	21,592
Corporate
Segment Reporting, Other Significant Reconciling Item
Operating Income (Loss)	(35,632)	(31,948)	(110,542)	(114,618)
Stock-based compensation expense	12,308	6,600	37,759	37,339
Depreciation	2,494	2,216	7,543	5,510
Amortization of intangibles	0	0	0	0
Acquisition-related Contingent Consideration Fair Value Adjustments		0	0	0
Goodwill impairment			0
Adjusted EBITDA	$ (20,830)	$ (23,132)	$ (65,240)	$ (71,769)

PENSION AND POSTRETIREMENT BENEFIT PLANS - Components of Net Periodic Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Pension \| United States
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 877	$ 2,766
Interest cost	1,267	3,154
Expected return on plan assets	(308)	(2,484)
Actuarial (gain) loss recognition	(2,643)	7,490
Net periodic (credit) benefit costs	(807)	10,926
Pension \| International
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0
Interest cost	3,999	11,073
Expected return on plan assets	(4,252)	(12,668)
Actuarial (gain) loss recognition	0	68,552
Net periodic (credit) benefit costs	(253)	66,957
Postretirement \| United States
Defined Benefit Plan Disclosure [Line Items]
Service cost	2	5
Interest cost	66	200
Expected return on plan assets	0	0
Actuarial (gain) loss recognition	0	0
Net periodic (credit) benefit costs	$ 68	$ 205

PENSION AND POSTRETIREMENT BENEFIT PLANS - Narrative (Details) - Pension £ in Millions, $ in Millions		3 Months Ended	9 Months Ended
	Jul. 28, 2022 GBP (£) contract	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Gain (loss) on plan assets related to a decline in fair value		$ (2.6)	$ (76.1)
United States
Defined Benefit Plan Disclosure [Line Items]
Gain (loss) on plan assets related to a decline in fair value		2.6	(7.5)
International
Defined Benefit Plan Disclosure [Line Items]
Gain (loss) on plan assets related to a decline in fair value	£ (110)	(119.0)	(68.6)
Net assets of plan		$ 130.7	$ 130.7
Number of insurance contracts owned \| contract	2
Percentage of future designated contractual payments to covered participants	100.00%

PENSION AND POSTRETIREMENT BENEFIT PLANS - Expected Return on Plan Assets (Details) - Pension	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
United States
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets	3.15%	6.00%
International
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets	2.20%	1.90%

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income tax benefit due to higher estimated effective tax rate	$ 3,700
Income tax benefit (provision)	$ (26,065)	$ 9,910	$ (325,517)	$ 151,046
Effective income tax rate (as a percent)	28.00%	14.00%	22.00%	21.00%
Unrecognized tax benefits, including interest and penalties	$ 18,200		$ 18,200		$ 18,000
Increase (decrease) in unrecognized tax benefits, including interest and penalties during the period			200
Unrecognized tax benefits, if subsequently recognized would reduce income tax expense	17,100		17,100		$ 16,700
Decrease in unrecognized tax benefit, reasonably possible within twelve months	5,000		5,000
Unrecognized tax benefits, reduction resulting from expected settlements			4,900
Deferred tax assets	889,600		889,600
Portion of deferred tax assets that will be utilized upon future reversal of deferred tax liabilities	799,900		799,900
Portion of deferred tax assets that will be utilized based on forecasts of future taxable income	89,700		89,700
Deferred tax assets, U.S. federal operating loss carryforwards	$ 91,200		91,200
Future taxable income			$ 434,100

(LOSS) EARNINGS PER SHARE - Summary (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Nov. 05, 2020	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator: Basic
Net (loss) earnings from continuing operations		$ (65,847)	$ 61,047	$ (1,182,139)	$ 583,317
Net loss (earnings) attributable to noncontrolling interests of continuing operations		2,024	(357)	13,388	3,275
Net earnings attributed to unvested participating security		0	(2,040)	0	(19,749)
Net (loss) earnings from continuing operations attributable to IAC Common Stock and Class B common stock shareholders		(63,823)	58,650	(1,168,751)	566,843
Loss from discontinued operations, net of tax		0	0	0	(1,831)
Net earnings attributable to noncontrolling interests of discontinued operations		0	0	0	(186)
Net loss attributed to unvested participating security		0	0	0	68
Net loss from discontinued operations attributable to IAC Common Stock and Class B common stock shareholders		0	0	0	(1,949)
Net (loss) earnings attributable to IAC Common Stock and Class B common stock shareholders		$ (63,823)	$ 58,650	$ (1,168,751)	$ 564,894
Denominator: Basic
Weighted average basic IAC Common Stock and Class B common stock shares outstanding (shares)		86,022,000	86,258,000	86,515,000	86,106,000
(Loss) earnings per share: Basic
(Loss) earnings per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders (USD per share)		$ (0.74)	$ 0.68	$ (13.51)	$ 6.58
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders (USD per share)		0	0	0	(0.02)
(Loss) earnings per share attributable to IAC Common Stock and Class B common stock shareholders (USD per share)		$ (0.74)	$ 0.68	$ (13.51)	$ 6.56
Numerator: Diluted
Net (loss) earnings from continuing operations		$ (65,847)	$ 61,047	$ (1,182,139)	$ 583,317
Net loss (earnings) attributable to noncontrolling interests of continuing operations		2,024	(357)	13,388	3,275
Net earnings attributed to unvested participating security		0	(1,938)	0	(18,494)
Impact from public subsidiaries' dilutive securities		0	91	0	245
Net (loss) earnings from continuing operations attributable to IAC Common Stock and Class B common stock shareholders		(63,823)	58,843	(1,168,751)	568,343
Loss from discontinued operations, net of tax		0	0	0	(1,831)
Net earnings attributable to noncontrolling interests of discontinued operations		0	0	0	(186)
Net loss attributed to unvested participating security		0	0	0	64
Net loss from discontinued operations attributable to IAC Common Stock and Class B common stock shareholders		0	0	0	(1,953)
Net (loss) earnings attributable to IAC Common Stock and Class B common stock shareholders		$ (63,823)	$ 58,843	$ (1,168,751)	$ 566,390
Denominator: Diluted
Weighted average basic IAC Common Stock and Class B common stock shares outstanding (shares)		86,022,000	86,258,000	86,515,000	86,106,000
Dilutive securities (shares)		0	4,818,000	0	6,089,000
Denominator for earnings per share - weighted average shares (shares)		86,022,000	91,076,000	86,515,000	92,195,000
(Loss) earnings per share: Diluted
(Loss) earnings per share from continuing operations attributable to IAC Common Stock and Class B common stock shareholders (USD per share)		$ (0.74)	$ 0.65	$ (13.51)	$ 6.16
Loss per share from discontinued operations, net of tax, attributable to IAC Common Stock and Class B common stock shareholders (USD per share)		0	0	0	(0.02)
(Loss) earnings per share attributable to IAC Common Stock and Class B common stock shareholders (USD per share)		$ (0.74)	$ 0.65	$ (13.51)	$ 6.14
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities excluded from calculation of diluted earnings per share (shares)		8,000,000	3,000,000	8,000,000	3,000,000
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

DISCONTINUED OPERATIONS - Components of Earnings from Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	May 25, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating costs and expenses:
Loss from discontinued operations, net of tax	$ 0	$ 0		$ 0	$ (1,831)
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
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)			39,995
Selling and marketing expense			54,774
General and administrative expense			23,343
Product development expense			35,651
Depreciation			182
Amortization of intangibles			2,983
Total operating costs and expenses			156,928
Operating loss from discontinued operations			(11,414)
Interest expense			(140)
Other income, net			10,172
Loss from discontinued operations before tax			(1,382)
Income tax expense			(449)
Loss from discontinued operations, net of tax			$ (1,831)

FINANCIAL STATEMENT DETAILS - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 1,607,384	$ 2,118,730	$ 3,404,913	$ 3,366,176
Restricted cash included in other current assets	2,872	1,941	14,027	448
Restricted cash included in other non-current assets	6,815	1,193	1,217	449
Cash, cash equivalents, and restricted cash included in current assets of discontinued operations	0	0	0	110,037
Total cash and cash equivalents and restricted cash as shown on the statement of cash flows	$ 1,617,071	$ 2,121,864	$ 3,420,157	$ 3,477,110

FINANCIAL STATEMENT DETAILS - Allowance for Credit Loss (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1	$ 36,637	$ 27,178
Current period provision for credit losses	87,657	66,428
Write-offs charged against the allowance	(73,807)	(55,942)
Recoveries collected	4,152	1,896
Balance at September 30	$ 54,639	$ 39,560

FINANCIAL STATEMENT DETAILS - Accumulated Amortization and Depreciation (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Depreciation, Depletion and Amortization [Abstract]
ROU assets included in other non-current assets	$ 129,487	$ 87,052
Capitalized software, equipment, buildings and leasehold improvements	276,822	496,887
Intangible assets	$ 507,797	$ 278,831

FINANCIAL STATEMENT DETAILS - Other (Expense) Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Realized gain related to the sale of investments	$ 11,840	$ 3,022	$ 12,302	$ 3,103
Interest income	8,778	216	11,918	931
Unrealized increase in the estimated fair value of a warrant	8,467	47,075	21,318	102,331
Upward (downward) adjustments to the carrying value of equity securities without readily determinable fair values	8,245	7,516	(14,131)	8,892
Net periodic pension benefit credits (costs), other than the service cost component	1,871	0	(75,317)	0
Unrealized (loss) gain related to marketable equity securities	(13,972)	25,794	(8,316)	25,794
Foreign exchange losses, net	(5,196)	(858)	(11,425)	(11,976)
Realized (loss) gain on the sale of a marketable equity security	0	(3,536)	0	7,174
Loss on the extinguishment of debt	0	0	0	(1,110)
Other	(355)	310	603	(1,751)
Other income (expense), net	19,678	$ 79,539	(63,048)	133,388
Foreign exchange losses due to substantial liquidation of certain foreign subsidiaries				$ 10,000
Pension
Defined Benefit Plan Disclosure [Line Items]
Gain (loss) on plan assets related to a decline in fair value	$ (2,600)		$ (76,100)

RELATED PARTY TRANSACTIONS - Narrative (Details)	3 Months Ended		4 Months Ended	9 Months Ended
RELATED PARTY TRANSACTIONS - Narrative (Details)	Sep. 30, 2022 USD ($) shares	Sep. 30, 2021 USD ($) shares	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) plane shares	Sep. 30, 2021 shares	Dec. 31, 2021 USD ($)
Expedia \| Corporate Aircraft Purchase Agreement
Related Party Transaction [Line Items]
Proportion of ownership interest held each by entity and by related party in aircraft employing flight crew (as a percent)	50.00%			50.00%
Number of aircraft operated \| plane				3
Proportion of ownership interest held each by entity and by related party in another entity employing flight crew (as a percent)	50.00%			50.00%
Angi Inc. \| Angi, Inc. \| Employee Matters Agreement
Related Party Transaction [Line Items]
Stock received from related party (in shares) \| shares	0			0
Stock received from related party, exercised or vested (in shares) \| shares				0
Stock received from related party, exercised or vested, stock appreciation rights (in shares) \| shares				0
Angi Inc. \| Common Stock \| Angi, Inc. \| Employee Matters Agreement
Related Party Transaction [Line Items]
Stock received from related party (in shares) \| shares		100,000			2,600,000
Angi Inc. \| Class B common stock \| Angi, Inc. \| Employee Matters Agreement
Related Party Transaction [Line Items]
Stock received from related party (in shares) \| shares		100,000			200,000
IAC and Vimeo \| Mr. Diller
Related Party Transaction [Line Items]
Voting interests	0.10			0.10
Vimeo \| Vimeo \| Tax Sharing Agreement
Related Party Transaction [Line Items]
Due from (to) related party	$ 0			$ 0		$ 0
Expenses from transactions with related party	0			0
Vimeo \| Vimeo \| Transition Services Agreement
Related Party Transaction [Line Items]
Due from (to) related party	0			0		0
Expenses from transactions with related party	100,000	$ 400,000	$ 600,000	300,000
Vimeo \| Vimeo \| Employee Benefit Plans Participation
Related Party Transaction [Line Items]
Due from related party	0			0		6,400,000
Vimeo \| Vimeo \| Lease Agreement
Related Party Transaction [Line Items]
Expenses from transactions with related party	700,000	$ 1,100,000	$ 1,500,000	3,700,000
Due from related party	$ 200,000			$ 200,000		$ 0