GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION (Tables)

6 Months Ended

Jun. 30, 2013

Guarantor and Nonguarantor Financial Statements [Abstract]

Balance sheet at June 30, 2013:



	IAC		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Total Eliminations			IAC Consolidated
	(In thousands)
Cash and cash equivalents	$	413,467	$	—	$	265,258	$	—		$	678,725
Marketable securities	7,775		—		—		—			7,775
Accounts receivable, net	11		151,153		84,786		—			235,950
Other current assets	26,226		66,061		52,875		3,123			148,285
Intercompany receivables	—		415,915		1,768,667		(2,184,582		)	—
Property and equipment, net	4,378		214,744		70,371		—			289,493
Goodwill	—		1,179,578		484,737		—			1,664,315
Intangible assets, net	—		319,251		146,910		—			466,161
Investment in subsidiaries	4,377,565		676,168		—		(5,053,733		)	—
Other non-current assets	181,304		18,071		122,358		54			321,787
Total assets	$	5,010,726	$	3,040,941	$	2,995,962	$	(7,235,138	)	$	3,812,491

Accounts payable, trade	$	1,543	$	45,858	$	35,893	$	—		$	83,294
Other current liabilities	38,823		263,956		239,449		(14,866		)	527,362
Long-term debt, net of current maturities	500,000		80,000		—		—			580,000
Income taxes payable	440,261		25,422		12,270		18,215			496,168
Intercompany liabilities	2,184,582		—		—		(2,184,582		)	—
Other long-term liabilities	214,212		81,475		83,471		(172		)	378,986
Redeemable noncontrolling interests	—		—		64,147		—			64,147
IAC shareholders' equity	1,631,305		2,544,230		2,509,503		(5,053,733		)	1,631,305
Noncontrolling interests	—		—		51,229		—			51,229
Total liabilities and shareholders' equity	$	5,010,726	$	3,040,941	$	2,995,962	$	(7,235,138	)	$	3,812,491

Balance sheet at December 31, 2012:



	IAC		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Total Eliminations			IAC Consolidated
	(In thousands)
Cash and cash equivalents	$	501,075	$	—	$	248,902	$	—		$	749,977
Marketable securities	20,604		—		—		—			20,604
Accounts receivable, net	43		142,627		87,160		—			229,830
Other current assets	58,452		53,720		45,204		(1,037		)	156,339
Intercompany receivables	—		482,926		10,276,178		(10,759,104		)	—
Property and equipment, net	4,116		194,515		71,881		—			270,512
Goodwill	—		1,190,199		425,955		—			1,616,154
Intangible assets, net	—		340,631		142,273		—			482,904
Investment in subsidiaries	12,913,694		611,851		—		(13,525,545		)	—
Other non-current assets	153,155		16,509		109,912		(68		)	279,508
Total assets	$	13,651,139	$	3,032,978	$	11,407,465	$	(24,285,754	)	$	3,805,828

Accounts payable, trade	$	4,366	$	64,888	$	29,060	$	—		$	98,314
Other current liabilities	74,214		216,010		238,003		(1,652		)	526,575
Long-term debt, net of current maturities	500,000		80,000		—		—			580,000
Income taxes payable	440,110		26,389		13,446		—			479,945
Intercompany liabilities	10,759,104		—		—		(10,759,104		)	—
Other long-term liabilities	217,617		91,119		45,950		547			355,233
Redeemable noncontrolling interests	—		1,388		56,738		—			58,126
IAC shareholders' equity	1,655,728		2,553,184		10,972,361		(13,525,545		)	1,655,728
Noncontrolling interests	—		—		51,907		—			51,907
Total liabilities and shareholders' equity	$	13,651,139	$	3,032,978	$	11,407,465	$	(24,285,754	)	$	3,805,828

Schedule of condensed income statement

Statement of operations for the three months ended June 30, 2013:



	IAC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Eliminations			IAC Consolidated
	(In thousands)
Revenue	$	—		$	553,406		$	247,164		$	(1,159	)	$	799,411
Costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	549			156,703			116,570			(1,000		)	272,822
Selling and marketing expense	710			187,543			59,052			(152		)	247,153
General and administrative expense	23,582			44,015			35,925			(7		)	103,515
Product development expense	867			23,284			9,901			—			34,052
Depreciation	344			11,380			5,312			—			17,036
Amortization of intangibles	—			12,157			5,980			—			18,137
Total costs and expenses	26,052			435,082			232,740			(1,159		)	692,715
Operating (loss) income	(26,052		)	118,324			14,424			—			106,696
Equity in earnings (losses) of unconsolidated affiliates	75,927			8,540			(132		)	(85,413		)	(1,078		)
Interest expense	(6,515		)	(1,078		)	(65		)	—			(7,658		)
Other income (expense), net	3,109			(9,627		)	6,514			—			(4		)
Earnings from continuing operations before income taxes	46,469			116,159			20,741			(85,413		)	97,956
Income tax benefit (provision)	12,889			(41,871		)	(10,434		)	—			(39,416		)
Earnings from continuing operations	59,358			74,288			10,307			(85,413		)	58,540
(Loss) earnings from discontinued operations, net of tax	(1,068		)	—			4			(4		)	(1,068		)
Net earnings	58,290			74,288			10,311			(85,417		)	57,472
Net loss attributable to noncontrolling interests	—			404			414			—			818
Net earnings attributable to IAC shareholders	$	58,290		$	74,692		$	10,725		$	(85,417	)	$	58,290
Comprehensive income attributable to IAC shareholders	$	70,199		$	74,628		$	5,227		$	(79,855	)	$	70,199

Statement of operations for the three months ended June 30, 2012:



	IAC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Eliminations			IAC Consolidated
	(In thousands)
Revenue	$	—		$	473,580		$	208,759		$	(1,727	)	$	680,612
Costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	1,299			136,869			100,489			(1,353		)	237,304
Selling and marketing expense	869			160,409			50,353			(379		)	211,252
General and administrative expense	28,721			35,333			25,580			5			89,639
Product development expense	1,447			18,514			6,950			—			26,911
Depreciation	145			8,673			3,407			—			12,225
Amortization of intangibles	—			596			5,209			—			5,805
Total costs and expenses	32,481			360,394			191,988			(1,727		)	583,136
Operating (loss) income	(32,481		)	113,186			16,771			—			97,476
Equity in earnings (losses) of unconsolidated affiliates	108,333			14,025			(18,659		)	(122,708		)	(19,009		)
Interest expense	(277		)	(1,065		)	(22		)	—			(1,364		)
Other (expense) income, net	(104,077		)	(3,072		)	106,781			—			(368		)
(Loss) earnings from continuing operations before income taxes	(28,502		)	123,074			104,871			(122,708		)	76,735
Income tax benefit (provision)	76,475			(38,459		)	(66,650		)	—			(28,634		)
Earnings from continuing operations	47,973			84,615			38,221			(122,708		)	48,101
(Loss) earnings from discontinued operations, net of tax	(4,641		)	—			718			(718		)	(4,641		)
Net earnings	43,332			84,615			38,939			(123,426		)	43,460
Net loss (earnings) attributable to noncontrolling interests	—			21			(149		)	—			(128		)
Net earnings attributable to IAC shareholders	$	43,332		$	84,636		$	38,790		$	(123,426	)	$	43,332
Comprehensive income attributable to IAC shareholders	$	9,319		$	84,400		$	16,287		$	(100,687	)	$	9,319

Statement of operations for the six months ended June 30, 2013:



	IAC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Eliminations			IAC Consolidated
	(In thousands)
Revenue	$	—		$	1,069,190		$	474,666		$	(2,196	)	$	1,541,660
Costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	1,226			310,375			218,849			(1,779		)	528,671
Selling and marketing expense	1,141			358,210			131,125			(409		)	490,067
General and administrative expense	45,827			84,167			69,253			(8		)	199,239
Product development expense	1,766			46,098			21,305			—			69,169
Depreciation	711			20,381			9,960			—			31,052
Amortization of intangibles	—			21,067			11,148			—			32,215
Total costs and expenses	50,671			840,298			461,640			(2,196		)	1,350,413
Operating (loss) income	(50,671		)	228,892			13,026			—			191,247
Equity in earnings (losses) of unconsolidated affiliates	190,477			11,311			(223		)	(202,734		)	(1,169		)
Interest expense	(13,072		)	(2,143		)	(106		)	—			(15,321		)
Other (expense) income, net	(52,339		)	(28,357		)	82,350			—			1,654
Earnings from continuing operations before income taxes	74,395			209,703			95,047			(202,734		)	176,411
Income tax benefit (provision)	39,544			(75,454		)	(29,252		)	—			(65,162		)
Earnings from continuing operations	113,939			134,249			65,795			(202,734		)	111,249
(Loss) earnings from discontinued operations, net of tax	(2,012		)	—			11			(11		)	(2,012		)
Net earnings	111,927			134,249			65,806			(202,745		)	109,237
Net loss attributable to noncontrolling interests	—			412			2,278			—			2,690
Net earnings attributable to IAC shareholders	$	111,927		$	134,661		$	68,084		$	(202,745	)	$	111,927
Comprehensive income attributable to IAC shareholders	$	111,909		$	134,523		$	46,494		$	(181,017	)	$	111,909

Statement of operations for the six months ended June 30, 2012:



	IAC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Eliminations			IAC Consolidated
	(In thousands)
Revenue	$	—		$	933,251		$	391,011		$	(3,050	)	$	1,321,212
Costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	2,693			278,845			181,389			(2,323		)	460,604
Selling and marketing expense	1,772			319,751			109,258			(743		)	430,038
General and administrative expense	58,060			71,117			48,918			16			178,111
Product development expense	2,823			38,965			13,244			—			55,032
Depreciation	292			17,643			6,405			—			24,340
Amortization of intangibles	—			1,226			11,620			—			12,846
Total costs and expenses	65,640			727,547			370,834			(3,050		)	1,160,971
Operating (loss) income	(65,640		)	205,704			20,177			—			160,241
Equity in earnings (losses) of unconsolidated affiliates	206,198			18,185			(22,712		)	(226,581		)	(24,910		)
Interest expense	(555		)	(2,130		)	(26		)	—			(2,711		)
Other (expense) income, net	(208,564		)	(1,791		)	212,743			—			2,388
(Loss) earnings from continuing operations before income taxes	(68,561		)	219,968			210,182			(226,581		)	135,008
Income tax benefit (provision)	147,328			(75,075		)	(128,007		)	—			(55,754		)
Earnings from continuing operations	78,767			144,893			82,175			(226,581		)	79,254
(Loss) earnings from discontinued operations, net of tax	(957		)	—			258			(258		)	(957		)
Net earnings	77,810			144,893			82,433			(226,839		)	78,297
Net loss (earnings) attributable to noncontrolling interests	—			37			(524		)	—			(487		)
Net earnings attributable to IAC shareholders	$	77,810		$	144,930		$	81,909		$	(226,839	)	$	77,810
Comprehensive income attributable to IAC shareholders	$	74,693		$	144,720		$	65,560		$	(210,280	)	$	74,693

Schedule of condensed cash flow statement

Statement of cash flows for the six months ended June 30, 2013:



	IAC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Eliminations		IAC Consolidated
	(In thousands)
Net cash (used in) provided by operating activities attributable to continuing operations	$	(32,997	)	$	253,527		$	7,733		$	—	$	228,263
Cash flows from investing activities attributable to continuing operations:
Acquisitions, net of cash acquired	—			(6,072		)	(30,841		)	—		(36,913		)
Capital expenditures	(719		)	(38,482		)	(8,618		)	—		(47,819		)
Proceeds from maturities and sales of marketable debt securities	12,502			—			—			—		12,502
Proceeds from sales of long-term investments	—			—			310			—		310
Purchases of long-term investments	(17,362		)	—			(7,897		)	—		(25,259		)
Other, net	(55		)	38			(1,426		)	—		(1,443		)
Net cash used in investing activities attributable to continuing operations	(5,634		)	(44,516		)	(48,472		)	—		(98,622		)
Cash flows from financing activities attributable to continuing operations:
Purchase of treasury stock	(162,660		)	—			—			—		(162,660		)
Net payments from stock-based award activities	(868		)	—			—			—		(868		)
Dividends	(38,880		)	—			—			—		(38,880		)
Excess tax benefits from stock-based awards	23,547			—			—			—		23,547
Principal payments on long-term debt	(15,844		)	—			—			—		(15,844		)
Intercompany	144,320			(207,810		)	63,490			—		—
Other, net	(927		)	(1,224		)	(1,483		)	—		(3,634		)
Net cash (used in) provided by financing activities attributable to continuing operations	(51,312		)	(209,034		)	62,007			—		(198,339		)
Total cash (used in) provided by continuing operations	(89,943		)	(23		)	21,268			—		(68,698		)
Total cash provided by discontinued operations	2,335			—			—			—		2,335
Effect of exchange rate changes on cash and cash equivalents	—			23			(4,912		)	—		(4,889		)
Net (decrease) increase in cash and cash equivalents	(87,608		)	—			16,356			—		(71,252		)
Cash and cash equivalents at beginning of period	501,075			—			248,902			—		749,977
Cash and cash equivalents at end of period	$	413,467		$	—		$	265,258		$	—	$	678,725

Statement of cash flows for the six months ended June 30, 2012:



	IAC			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Eliminations		IAC Consolidated
	(In thousands)
Net cash (used in) provided by operating activities attributable to continuing operations	$	(11,514	)	$	204,438		$	12,603		$	—	$	205,527
Cash flows from investing activities attributable to continuing operations:
Acquisitions, net of cash acquired	—			(19,126		)	(1,285		)	—		(20,411		)
Capital expenditures	(31		)	(13,010		)	(7,312		)	—		(20,353		)
Proceeds from maturities and sales of marketable debt securities	39,000			—			—			—		39,000
Purchases of marketable debt securities	(24,254		)	—			—			—		(24,254		)
Proceeds from sales of long-term investments	12,527			—			—			—		12,527
Purchases of long-term investments	—			(24		)	(6,220		)	—		(6,244		)
Other, net	(350		)	(220		)	(12,033		)	—		(12,603		)
Net cash provided by (used in) investing activities attributable to continuing operations	26,892			(32,380		)	(26,850		)	—		(32,338		)
Cash flows from financing activities attributable to continuing operations:
Purchase of treasury stock	(359,231		)	—			—			—		(359,231		)
Net proceeds from stock-based award activities	301,677			—			—			—		301,677
Dividends	(21,697		)	—			—			—		(21,697		)
Excess tax benefits from stock-based awards	9,461			4,892			—			—		14,353
Intercompany	109,568			(176,951		)	67,383			—		—
Other, net	—			—			(2,842		)	—		(2,842		)
Net cash provided by (used in) financing activities attributable to continuing operations	39,778			(172,059		)	64,541			—		(67,740		)
Total cash provided by (used in) continuing operations	55,156			(1		)	50,294			—		105,449
Total cash used in discontinued operations	(656		)	—			(73		)	—		(729		)
Effect of exchange rate changes on cash and cash equivalents	—			1			(1,678		)	—		(1,677		)
Net increase in cash and cash equivalents	54,500			—			48,543			—		103,043
Cash and cash equivalents at beginning of period	545,222			—			158,931			—		704,153
Cash and cash equivalents at end of period	$	599,722		$	—		$	207,474		$	—	$	807,196