IAC Inc.
For the period ended Sep 30, 2025. Filed Nov 3, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 3, 2025
PPLI$43.38+3.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statement of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| (In thousands) | ||
| Cash flows from operating activities attributable to continuing operations: | ||
| Net loss | $(25,672) | $(333,940) |
| Less: Net earnings from discontinued operations | 15,313 | 37,537 |
| Net loss from continuing operations | (40,985) | (371,477) |
| Adjustments to reconcile net loss to net cash provided by operating activities attributable to continuing operations: | ||
| Amortization of intangibles | 70,452 | 109,793 |
| Loss related to the allocation of a disputed gain on a real estate transaction | 32,600 | — |
| Depreciation | 28,922 | 30,725 |
| Non-cash lease expense (including right-of-use asset impairments) | 28,854 | 29,375 |
| Net loss (gain) on sales of investments and businesses (including unrealized losses on investments) | 18,845 | (16,530) |
| Stock-based compensation expense | 16,067 | 58,144 |
| Deferred income taxes | (46,891) | (88,792) |
| Net gains on amendments and early terminations of lease agreements | (42,193) | (232) |
| Unrealized (gain) loss on investment in MGM Resorts International | (648) | 361,805 |
| Unrealized increase in the estimated fair value of a warrant | — | (20,393) |
| Other adjustments, net | 9,341 | (4,208) |
| Changes in assets and liabilities, net of effects of dispositions: | ||
| Accounts receivable | 70,655 | 53,535 |
| Other assets | (5,172) | 65,350 |
| Operating lease liabilities | (78,646) | (38,576) |
| Accounts payable and other liabilities | (38,821) | (53,085) |
| Income taxes payable and receivable | (2,028) | 3,607 |
| Deferred revenue | 7,105 | 5,184 |
| Net cash provided by operating activities attributable to continuing operations | 27,457 | 124,225 |
| Cash flows from investing activities attributable to continuing operations: | ||
| Capital expenditures | (13,988) | (9,757) |
| Distribution of Angi Inc.'s cash in the spin-off | (386,563) | — |
| Net proceeds from the sales of investments and businesses | 9,856 | 173,556 |
| Proceeds from the sale of a portion of the retirement investment fund | 11,948 | 2,326 |
| Purchase of retirement investment fund | — | (15,253) |
| Net proceeds from sales of fixed assets | 4,255 | 12,745 |
| Proceeds from maturities of marketable debt securities | — | 350,000 |
| Purchases of marketable debt securities | — | (221,788) |
| Net collections of notes receivable | — | 10,083 |
| Other, net | 3,331 | 220 |
| Net cash (used in) provided by investing activities attributable to continuing operations | (371,161) | 302,132 |
| Cash flows from financing activities attributable to continuing operations: | ||
| Principal payments on the Term Loans | (1,430,148) | (22,500) |
| Net proceeds from the Term Loans refinancing | 991,451 | — |
| Proceeds from the issuance of the 2032 Notes | 400,000 | — |
| Debt issuance and deferred financing costs | (12,937) | — |
| Withholding taxes paid on behalf of employees on net settled stock-based awards | (67,128) | (14,616) |
| Purchases of treasury stock | (300,000) | — |
| Other, net | (372) | (230) |
| Net cash used in financing activities attributable to continuing operations | (419,134) | (37,346) |
| Total cash (used in) provided by continuing operations | (762,838) | 389,011 |
| Net cash (used in) provided by operating activities attributable to discontinued operations | (2,758) | 120,200 |
| Net cash used in investing activities attributable to discontinued operations | (12,499) | (37,541) |
| Net cash used in financing activities attributable to discontinued operations | (14,343) | (47,346) |
| Total cash (used in) provided by discontinued operations | (29,600) | 35,313 |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | 651 | 530 |
| Net (decrease) increase in cash and cash equivalents and restricted cash | (791,787) | 424,854 |
| Cash and cash equivalents and restricted cash at beginning of period | 1,807,255 | 1,306,241 |
| Cash and cash equivalents and restricted cash at end of period | $1,015,468 | $1,731,095 |
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