2019 Q2 Form 10-Q Financial Statement

#000089110319000015 Filed on August 09, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q4 2018 Q2
Revenue $498.0M $1.104B $1.059B
YoY Change -52.98% 16.15% 38.02%
Cost Of Revenue $276.4M $253.7M $218.2M
YoY Change 26.65% 27.03% 56.96%
Gross Profit $221.6M $850.4M $840.9M
YoY Change -73.65% 13.25% 33.83%
Gross Profit Margin 44.5% 77.02% 79.4%
Selling, General & Admin $158.2M $155.3M $558.0M
YoY Change -71.66% 21.33% 18.65%
% of Gross Profit 71.37% 18.26% 66.36%
Research & Development $32.68M $33.50M $75.45M
YoY Change -56.68% 19.22% 36.11%
% of Gross Profit 14.75% 3.94% 8.97%
Depreciation & Amortization $8.752M $10.10M $18.81M
YoY Change -53.46% 8.6% 2.54%
% of Gross Profit 3.95% 1.19% 2.24%
Operating Expenses $190.8M $199.0M $633.5M
YoY Change -69.87% 20.39% 20.49%
Operating Profit $171.3M $133.9M $168.4M
YoY Change 1.71% 41.92% 122.7%
Interest Expense $33.55M -$40.10M $27.36M
YoY Change 22.62% 100.5% 10.63%
% of Operating Profit 19.58% -29.94% 16.24%
Other Income/Expense, Net $2.538M $2.800M $171.1M
YoY Change -98.52% -151.85% 1572.93%
Pretax Income $140.3M $109.9M $312.2M
YoY Change -55.06% 7.43% 410.69%
Income Tax $21.10M $17.80M $31.37M
% Of Pretax Income 15.04% 16.2% 10.05%
Net Earnings $113.5M $217.5M $218.4M
YoY Change -48.04% 831.42% 229.5%
Net Earnings / Revenue 22.79% 19.7% 20.62%
Basic Earnings Per Share $0.65 $2.29 $2.61
Diluted Earnings Per Share $0.56 $2.04 $2.32
COMMON SHARES
Basic Shares Outstanding 181.6M shares 83.60M shares
Diluted Shares Outstanding 194.5M shares 90.93M shares

Balance Sheet

Concept 2019 Q2 2018 Q4 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $428.1M $310.2M $1.765B
YoY Change -75.75% 11.73% 258.28%
Cash & Equivalents $266.4M $186.9M $1.645B
Short-Term Investments $161.7M $123.2M $120.4M
Other Short-Term Assets $234.9M $228.3M $238.0M
YoY Change -1.29% 23.13% -7.03%
Inventory
Prepaid Expenses $55.59M
Receivables $365.5M $279.2M $343.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.914B $2.763B $2.347B
YoY Change 66.79% 30.0% 16.57%
LONG-TERM ASSETS
Property, Plant & Equipment $361.6M $318.8M $306.6M
YoY Change 17.92% 1.15% 0.15%
Goodwill $2.893B $1.245B $2.578B
YoY Change 12.2% -51.35% 33.99%
Intangibles $628.4M $631.4M $636.4M
YoY Change -1.25% -4.87% 87.7%
Long-Term Investments $0.00 $0.00 $0.00
YoY Change -100.0%
Other Assets $103.9M $134.9M $87.66M
YoY Change 18.47% 83.99% 7.67%
Total Long-Term Assets $4.385B $4.112B $3.889B
YoY Change 12.77% 9.87% 40.23%
TOTAL ASSETS
Total Short-Term Assets $3.914B $2.763B $2.347B
Total Long-Term Assets $4.385B $4.112B $3.889B
Total Assets $8.299B $6.875B $6.235B
YoY Change 33.1% 17.16% 30.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.80M $9.500M $11.60M
YoY Change 18.97% -5.94% 2.65%
Accrued Expenses $433.1M $434.9M $377.7M
YoY Change 14.67% 18.52% 11.57%
Deferred Revenue $402.2M $209.9M $375.1M
YoY Change 7.21% -38.71%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $13.75M $13.75M $13.75M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $953.5M $883.6M $845.7M
YoY Change 12.75% 10.48% 23.67%
LONG-TERM LIABILITIES
Long-Term Debt $3.139B $2.246B $1.982B
YoY Change 58.33% 13.44% 26.02%
Other Long-Term Liabilities $223.5M $66.81M $35.17M
YoY Change 535.33% 74.75% 3.19%
Total Long-Term Liabilities $3.362B $2.312B $2.017B
YoY Change 66.65% 14.6% 25.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $953.5M $883.6M $845.7M
Total Long-Term Liabilities $3.362B $2.312B $2.017B
Total Liabilities $4.315B $3.196B $2.863B
YoY Change 50.73% 13.43% 24.98%
SHAREHOLDERS EQUITY
Retained Earnings $1.461B $1.259B $921.3M
YoY Change 58.58% 111.55% 140.8%
Common Stock $11.96B $12.02B $12.01B
YoY Change -0.43% -1.17% 0.53%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.31B $10.31B $10.24B
YoY Change 0.67% 0.81% 0.14%
Treasury Stock Shares 194.7M shares 194.7M shares 194.3M shares
Shareholders Equity $2.983B $2.843B $2.576B
YoY Change
Total Liabilities & Shareholders Equity $8.299B $6.875B $6.235B
YoY Change 33.1% 17.16% 30.28%

Cashflow Statement

Concept 2019 Q2 2018 Q4 2018 Q2
OPERATING ACTIVITIES
Net Income $113.5M $217.5M $218.4M
YoY Change -48.04% 831.42% 229.5%
Depreciation, Depletion And Amortization $8.752M $10.10M $18.81M
YoY Change -53.46% 8.6% 2.54%
Cash From Operating Activities $263.3M $562.9M $121.2M
YoY Change 117.24% 515.86% 91.47%
INVESTING ACTIVITIES
Capital Expenditures -$11.00M -$10.10M -$9.800M
YoY Change 12.24% 40.28% 7.69%
Acquisitions
YoY Change
Other Investing Activities -$112.9M -$140.2M -$1.800M
YoY Change 6172.22% -333.67% -66.04%
Cash From Investing Activities -$123.9M -$150.3M -$11.60M
YoY Change 968.1% -385.2% -18.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 843.1M -40.50M -85.10M
YoY Change -1090.72% 39.18% -1518.33%
NET CHANGE
Cash From Operating Activities 263.3M 562.9M 121.2M
Cash From Investing Activities -123.9M -150.3M -11.60M
Cash From Financing Activities 843.1M -40.50M -85.10M
Net Change In Cash 982.5M 372.1M 24.50M
YoY Change 3910.2% 223.57% -55.45%
FREE CASH FLOW
Cash From Operating Activities $263.3M $562.9M $121.2M
Capital Expenditures -$11.00M -$10.10M -$9.800M
Free Cash Flow $274.3M $573.0M $131.0M
YoY Change 109.39% 481.14% 80.94%

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116643000 USD
CY2019Q2 us-gaap Profit Loss
ProfitLoss
146791000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
280854000 USD
us-gaap Profit Loss
ProfitLoss
259776000 USD
us-gaap Profit Loss
ProfitLoss
368693000 USD
CY2019Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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1097000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-46576000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2406000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-11183000 USD
CY2019Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-6000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
13000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-5000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
13000 USD
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1091000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-46563000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2401000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-11170000 USD
CY2019Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
147882000 USD
CY2018Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
234291000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
262177000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
357523000 USD
CY2019Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
33324000 USD
CY2018Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
62501000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
57614000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
79258000 USD
CY2019Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
0 USD
CY2018Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
-9119000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
316000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
-2083000 USD
CY2019Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
0 USD
CY2018Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
0 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
-1000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
0 USD
CY2019Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
33324000 USD
CY2018Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
53382000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
57929000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
77175000 USD
CY2019Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
114558000 USD
CY2018Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
180909000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3571336000 USD
CY2019Q2 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
139845000 USD
CY2019Q2 iac Other Comprehensive Income Loss Netof Tax Including Portion Attributableto Nonredeemable Noncontrolling Interest Total
OtherComprehensiveIncomeLossNetofTaxIncludingPortionAttributabletoNonredeemableNoncontrollingInterestTotal
1426000 USD
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
62384000 USD
CY2019Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-18112000 USD
CY2019Q2 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
0 USD
CY2019Q2 iac Temporary Equity Changein Redemption Value
TemporaryEquityChangeinRedemptionValue
104000 USD
CY2019Q2 iac Adjustmentsto Additional Paidin Capital Purchaseof Exchangeable Note Hedge
AdjustmentstoAdditionalPaidinCapitalPurchaseofExchangeableNoteHedge
303428000 USD
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
321128000 USD
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
166520000 USD
CY2019Q2 us-gaap Stockholders Equity Other
StockholdersEquityOther
-1000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3843597000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3082391000 USD
CY2018Q2 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
245139000 USD
CY2018Q2 iac Other Comprehensive Income Loss Netof Tax Including Portion Attributableto Nonredeemable Noncontrolling Interest Total
OtherComprehensiveIncomeLossNetofTaxIncludingPortionAttributabletoNonredeemableNoncontrollingInterestTotal
-45698000 USD
CY2018Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
57171000 USD
CY2018Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
616000 USD
CY2018Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
14713000 USD
CY2018Q2 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
549000 USD
CY2018Q2 iac Temporary Equity Changein Redemption Value
TemporaryEquityChangeinRedemptionValue
1554000 USD
CY2018Q2 iac Temporary Equity Created In Acquisition
TemporaryEquityCreatedInAcquisition
14246000 USD
CY2018Q2 us-gaap Stockholders Equity Other
StockholdersEquityOther
11000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3236948000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3551801000 USD
us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
253881000 USD
iac Other Comprehensive Income Loss Netof Tax Including Portion Attributableto Nonredeemable Noncontrolling Interest Total
OtherComprehensiveIncomeLossNetofTaxIncludingPortionAttributabletoNonredeemableNoncontrollingInterestTotal
2550000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
129786000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-23022000 USD
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
0 USD
iac Temporary Equity Changein Redemption Value
TemporaryEquityChangeinRedemptionValue
-10138000 USD
iac Temporary Equity Created In Acquisition
TemporaryEquityCreatedInAcquisition
0 USD
iac Adjustmentsto Additional Paidin Capital Purchaseof Exchangeable Note Hedge
AdjustmentstoAdditionalPaidinCapitalPurchaseofExchangeableNoteHedge
303428000 USD
us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
321128000 USD
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
166520000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
16000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3843597000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2946823000 USD
CY2018Q1 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
40205000 USD
us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
333937000 USD
iac Other Comprehensive Income Loss Netof Tax Including Portion Attributableto Nonredeemable Noncontrolling Interest Total
OtherComprehensiveIncomeLossNetofTaxIncludingPortionAttributabletoNonredeemableNoncontrollingInterestTotal
-10884000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
115843000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
25891000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
14713000 USD
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
818000 USD
iac Temporary Equity Changein Redemption Value
TemporaryEquityChangeinRedemptionValue
-1849000 USD
iac Temporary Equity Created In Acquisition
TemporaryEquityCreatedInAcquisition
14246000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
-2651000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3236948000 USD
us-gaap Profit Loss
ProfitLoss
259776000 USD
us-gaap Profit Loss
ProfitLoss
368693000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
129869000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
116643000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
42390000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
40141000 USD
us-gaap Depreciation
Depreciation
40062000 USD
us-gaap Depreciation
Depreciation
38062000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
33408000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
20865000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-57169000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-11258000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
29247000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
126559000 USD
iac Gain Losson Dispositionof Businessand Investments
GainLossonDispositionofBusinessandInvestments
-6242000 USD
iac Gain Losson Dispositionof Businessand Investments
GainLossonDispositionofBusinessandInvestments
27172000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-20175000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-8591000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
124957000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
60185000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-3482000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
38195000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1764000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1063000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-7956000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
3467000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
41497000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
45646000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
355808000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
379802000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
201026000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
17513000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
76623000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
39696000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
163500000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
10000000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
39740000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
124397000 USD
iac Proceedsfrom Divestitureof Businessand Saleof Longterm Investments
ProceedsfromDivestitureofBusinessandSaleofLongtermInvestments
23373000 USD
iac Proceedsfrom Divestitureof Businessand Saleof Longterm Investments
ProceedsfromDivestitureofBusinessandSaleofLongtermInvestments
27540000 USD
us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
0 USD
us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
31180000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
2156000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-9599000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-132672000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-165647000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
303428000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
166520000 USD
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
26361000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
532000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
6121000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
877000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-3719000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-4829000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
796771000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-202705000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1019907000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
11450000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
361000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1020268000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
11494000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2133685000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1633682000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3153953000 USD
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1645176000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;padding-bottom:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Accounting Estimates</span></div><div style="line-height:120%;padding-bottom:16px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Management of the Company is required to make certain estimates, judgments and assumptions during the preparation of its consolidated financial statements in accordance with GAAP. These estimates, judgments and assumptions impact the reported amounts of assets, liabilities, revenue and expenses and the related disclosure of contingent assets and liabilities. Actual results could differ from these estimates.</span></div><div style="line-height:120%;padding-bottom:16px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On an ongoing basis, the Company evaluates its estimates and judgments, including those related to: the fair values of cash equivalents and marketable debt securities; the carrying value of accounts receivable, including the determination of the allowance for doubtful accounts; the determination of revenue reserves; the useful lives and recoverability of definite-lived intangible assets and property and equipment; the recoverability of goodwill and indefinite-lived intangible assets; the fair value of equity securities without readily determinable fair values; contingencies; the fair value of acquisition-related contingent consideration arrangements; unrecognized tax benefits; the valuation allowance for deferred income tax assets; and the fair value of and forfeiture rates for stock-based awards, among others. The Company bases its estimates and judgments on historical experience, its forecasts and budgets and other factors that the Company considers relevant.</span></div>
CY2018Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
360000000.0 USD
CY2018Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
1700000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
315000000.0 USD
CY2019Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
402200000 USD
CY2019Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
1400000 USD
CY2019Q2 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
40800000 USD
CY2018Q4 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
40500000 USD
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="line-height:120%;padding-bottom:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-bottom:16px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Certain Risks and Concentrations—Services Agreement with Google</span></div>A meaningful portion of the Company's revenue is attributable to a services agreement with Google (the "Services Agreement").
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
38724000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
31829000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassifications</span></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:30px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Certain prior year amounts have been reclassified to conform to the current year presentation.</span></div>
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
180290000 USD
CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
32635000 USD
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
201708000 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
234343000 USD
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
13815000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
24307000 USD
CY2019Q2 us-gaap Variable Lease Cost
VariableLeaseCost
2402000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
4721000 USD
CY2019Q2 us-gaap Lease Cost
LeaseCost
16217000 USD
us-gaap Lease Cost
LeaseCost
29028000 USD
CY2019Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1700000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
3000000.0 USD
CY2019Q2 us-gaap Sublease Income
SubleaseIncome
500000 USD
us-gaap Sublease Income
SubleaseIncome
1100000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
20503000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
45081000 USD
CY2019Q2 iac Lessee Operating Lease Liability Payments Due Year Six
LesseeOperatingLeaseLiabilityPaymentsDueYearSix
28491000 USD
CY2019Q2 iac Lessee Operating Lease Liability Payments Dueafter Year Six
LesseeOperatingLeaseLiabilityPaymentsDueafterYearSix
249573000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
414201000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
179858000 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
234343000 USD
CY2019Q2 iac Lessee Operating Lease Lease Notyet Commenced Amount
LesseeOperatingLeaseLeaseNotyetCommencedAmount
1100000 USD
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P15Y10M24D
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0603
CY2019Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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52000000.0 USD
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52300000 USD
CY2019Q2 iac Unrecognized Tax Benefits Unrelated To Federal Income Taxes Statute Of Limitations Expiring To Be Recognized In Subsequent Periods That Would Income Impact Tax Expense Continuing Operations
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48600000 USD
CY2018Q4 iac Unrecognized Tax Benefits Unrelated To Federal Income Taxes Statute Of Limitations Expiring To Be Recognized In Subsequent Periods That Would Income Impact Tax Expense Continuing Operations
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us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
CONTINGENCIES<div style="line-height:120%;padding-bottom:16px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In the ordinary course of business, the Company is a party to various lawsuits. The Company establishes reserves for specific legal matters when it determines that the likelihood of an unfavorable outcome is probable and the loss is reasonably estimable. Management has also identified certain other legal matters where we believe an unfavorable outcome is not probable and, therefore, </span><span style="font-family:inherit;font-size:10pt;"><span>no</span></span><span style="font-family:inherit;font-size:10pt;"> reserve is established. Although management currently believes that resolving claims against us, including claims where an unfavorable outcome is reasonably possible, will not have a material impact on the liquidity, results of operations, or financial condition of 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 </span><span style="font-family:inherit;font-size:10pt;"><span>one</span></span><span style="font-family:inherit;font-size:10pt;"> 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 "</span><a href="#sD6230E969AB1530FAA4228F3E63410B0" style="font-family:inherit;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Note 3—Income Taxes</span></a><span style="font-family:inherit;font-size:10pt;">" for additional information related to income tax contingencies.</span></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:29px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On August 14, 2018, </span><span style="font-family:inherit;font-size:10pt;"><span>ten</span></span><span style="font-family:inherit;font-size:10pt;"> then-current and former employees of Match Group, LLC or Tinder, Inc. ("Tinder"), an operating business of Match Group, filed a lawsuit in New York state court against IAC and Match Group. </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">See Sean Rad et al. v. IAC/InterActiveCorp and Match Group, Inc.</span><span style="font-family:inherit;font-size:10pt;">, No. 654038/2018 (Supreme Court, New York County). The complaint alleges that in 2017, the defendants: (i) wrongfully interfered with a contractually established process for the independent valuation of Tinder by certain investment banks, resulting in a substantial undervaluation of Tinder and a consequent underpayment to the plaintiffs upon exercise of their Tinder stock options, and (ii) then wrongfully merged Tinder into Match Group, thereby depriving one of the plaintiffs (Mr. Rad) of his contractual right to later valuations of Tinder on a stand-alone basis. The complaint asserts claims for breach of contract, breach of the implied covenant of good faith and fair dealing, unjust enrichment, interference with contractual relations (as against Match Group only), and interference with prospective economic advantage, and seeks compensatory damages in the amount of at least </span><span style="font-family:inherit;font-size:10pt;"><span>$2 billion</span></span><span style="font-family:inherit;font-size:10pt;">, as well as punitive damages. On August 31, 2018, four plaintiffs who were still employed by Match Group filed a notice of discontinuance of their claims without prejudice, leaving the </span><span style="font-family:inherit;font-size:10pt;"><span>six</span></span><span style="font-family:inherit;font-size:10pt;"> former employees as the remaining plaintiffs.</span></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:29px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On October 9, 2018, the defendants filed a motion to dismiss the complaint on various grounds, including that the 2017 valuation of Tinder by the investment banks was an expert determination any challenge to which is both time-barred under applicable law and available only on narrow substantive grounds that the plaintiffs have not pleaded in their complaint; the plaintiffs opposed the motion. On June 13, 2019, the court issued a decision and order (i) granting the motion to dismiss the claims for breach of the implied covenant of good faith and fair dealing and for unjust enrichment, (ii) granting the motion to dismiss the merger-related claim for breach of contract as to </span><span style="font-family:inherit;font-size:10pt;"><span>two</span></span><span style="font-family:inherit;font-size:10pt;"> of the remaining </span><span style="font-family:inherit;font-size:10pt;"><span>six</span></span><span style="font-family:inherit;font-size:10pt;"> plaintiffs, and (iii) otherwise denying the motion to dismiss. The defendants have appealed from the court's partial denial of their motion to dismiss. On June 3, 2019, the defendants filed a second motion to dismiss based upon certain provisions of the plaintiffs' agreement with a litigation funding firm; the plaintiffs have opposed the motion, which remains pending. Discovery in the case is proceeding. IAC and Match Group believe that the allegations in this lawsuit are without merit and will continue to defend vigorously against it.</span></div>
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0 USD
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0 USD
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0 USD
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21091000 USD
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IncomeLossfromEquityMethodInvestmentsandOther
0 USD
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218353000 USD
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RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Cost Of Goods And Services Sold
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us-gaap General And Administrative Expense
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us-gaap Research And Development Expense
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us-gaap Depreciation Nonproduction
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40062000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
42390000 USD
us-gaap Costs And Expenses
CostsAndExpenses
2058318000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
234183000 USD
iac Income Lossfrom Equity Method Investmentsand Other
IncomeLossfromEquityMethodInvestmentsandOther
0 USD
us-gaap Interest Expense
InterestExpense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
212457000 USD
us-gaap Income Tax Expense Benefit
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us-gaap Profit Loss
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss
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202162000 USD
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us-gaap Research And Development Expense
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us-gaap Costs And Expenses
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us-gaap Operating Income Loss
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iac Income Lossfrom Equity Method Investmentsand Other
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us-gaap Interest Expense
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iac Distributionto Parent Pursuantto Tax Sharing Agreement
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iac Intercompany Financing Activites
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iac Proceedsfrom Divestitureof Businessand Saleof Longterm Investments
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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