LONG-TERM DEBT (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt

The following table presents detail of the exchangeable feature:

	Number of shares of the Company's Common Stock into which each $1,000 of Principal of the Exchangeable Notes is Exchangeable*	Approximate Equivalent Exchange Price per Share*		Exchangeable Date
2022 Exchangeable Notes	6.5713	$	152.18	July 1, 2022
2026 Exchangeable Notes	3.3028	$	302.77	March 15, 2026
2030 Exchangeable Notes	3.4323	$	291.35	October 15, 2029

_____________________

* Subject to adjustment upon the occurrence of specified events.

The following table sets forth the components of the Exchangeable Notes as of March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020
	2022 Exchangeable Notes		2026 Exchangeable Notes		2030 Exchangeable Notes
Liability component:
Principal	$	517,500	$	575,000	$	575,000
Less: unamortized original issue discount	37,314		124,820		178,554
Net carrying value of the liability component	$	480,186	$	450,180	$	396,446
Equity component	$	70,363	$	138,796	$	189,213
	December 31, 2019
	2022 Exchangeable Notes		2026 Exchangeable Notes		2030 Exchangeable Notes
Liability component:
Principal	$	517,500	$	575,000	$	575,000
Less: unamortized original issue discount	40,768		129,037		181,800
Net carrying value of the liability component	$	476,732	$	445,963	$	393,200
Equity component	$	70,363	$	138,796	$	189,213

The following table sets forth interest expense recognized related to the Exchangeable Notes (in thousands):

	Three Months Ended March 31, 2020
	2022 Exchangeable Notes		2026 Exchangeable Notes		2030 Exchangeable Notes
Contractual interest expense	$	1,132	$	1,258	$	2,875
Amortization of original issue discount	3,454		4,217		3,246
Amortization of debt issuance costs	855		319		176
Total interest expense recognized	$	5,441	$	5,794	$	6,297

	Three Months Ended March 31, 2019
	2022 Exchangeable Notes
Contractual interest expense	$	1,132
Amortization of original issue discount	3,363
Amortization of debt issuance costs	871
Total interest expense recognized	$	5,366

Long-term debt consists of:

	March 31, 2020		December 31, 2019
	(In thousands)
MTCH debt:
MTCH Term Loan due February 13, 2027	$	425,000	$	425,000
6.375% Senior Notes due June 1, 2024 (the "6.375% MTCH Senior Notes"); interest payable each June 1 and December 1	400,000		400,000
5.00% Senior Notes due December 15, 2027 (the "5.00% MTCH Senior Notes"); interest payable each June 15 and December 15	450,000		450,000
5.625% Senior Notes due February 15, 2029 (the "5.625% MTCH Senior Notes"); interest payable each February 15 and August 15	350,000		350,000
4.125% Senior Notes due August 1, 2030 (the "4.125% MTCH Senior Notes"); interest payable each February 1 and August 1; commencing August 1, 2020	500,000		—
Total MTCH long-term debt	2,125,000		1,625,000
Less: unamortized original issue discount	6,618		6,282
Less: unamortized debt issuance costs	20,428		15,235
Total MTCH debt, net	2,097,954		1,603,483
ANGI debt:
ANGI Term Loan due November 5, 2023	244,063		247,500
Less: current portion of ANGI Term Loan	13,750		13,750
Less: unamortized debt issuance costs	1,670		1,804
Total ANGI debt, net	228,643		231,946
IAC debt:
0.875% Exchangeable Senior Notes due October 1, 2022 (the "2022 Exchangeable Notes"); interest payable each April 1 and October 1	517,500		517,500
0.875% Exchangeable Senior Notes due June 15, 2026 (the "2026 Exchangeable Notes"); interest payable each June 15 and December 15	575,000		575,000
2.00% Exchangeable Senior Notes due January 15, 2030 (the "2030 Exchangeable Notes"); interest payable each January 15 and July 15	575,000		575,000
Total IAC long-term debt	1,667,500		1,667,500
Less: unamortized original issue discount	340,688		351,605
Less: unamortized debt issuance costs	28,401		29,752
Total IAC debt, net	1,298,411		1,286,143
Total long-term debt, net	$	3,625,008	$	3,121,572

Schedule of Exchangeable Notes Hedges and Warrants

The following tables presents details of the Exchangeable Notes Hedges and Warrants (shares in millions):

	Number of Shares*	Approximate Equivalent Exchange Price per Share*
2022 Exchangeable Notes Hedge	3.4	$	152.18
2026 Exchangeable Notes Hedge	1.9	$	302.77
2030 Exchangeable Notes Hedge	2.0	$	291.35

	Number of Shares*	Strike Price per Share*
2022 Exchangeable Notes Warrants	3.4	$	229.70
2026 Exchangeable Notes Warrants	1.9	$	457.02
2030 Exchangeable Notes Warrants	2.0	$	457.02

_____________________

* Subject to adjustment upon the occurrence of specified events.

Schedule of Maturities of Long-term Debt

Long-term debt maturities as of March 31, 2020 are summarized in the table below:

	(In thousands)
Remainder of 2020	$	10,313
2021	13,750
2022	545,000
2023	192,500
2024	400,000
Thereafter	2,875,000
Total	4,036,563
Less: current portion of long-term debt	13,750
Less: unamortized original issue discount	347,306
Less: unamortized debt issuance costs	50,499
Total long-term debt, net	$	3,625,008