IAC Inc
For the period ended Mar 31, 2024. Filed May 7, 2024.
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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.
Mar 31, 2024 · Filed May 7, 2024
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
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (In thousands) | ||
| Cash flows from operating activities: | ||
| Net earnings | $44,972 | $415,319 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
| Unrealized gain on investment in MGM Resorts International | (163,751) | (704,840) |
| (Gains) losses on sales of businesses and investments in equity securities (including downward adjustments), net | (25,941) | 2,451 |
| Deferred income taxes | 44,975 | 127,154 |
| Amortization of intangibles | 36,728 | 54,606 |
| Depreciation | 36,573 | 61,172 |
| Stock-based compensation expense | 28,907 | 28,941 |
| Provision for credit losses | 16,139 | 24,826 |
| Non-cash lease expense (including right-of-use asset impairments) | 14,794 | 58,656 |
| Unrealized decrease (increase) in the estimated fair value of a warrant | 10,231 | (5,940) |
| Other adjustments, net | (6) | (4,076) |
| Changes in assets and liabilities, net of effects of acquisitions and dispositions: | ||
| Accounts receivable | 56,084 | 43,023 |
| Other assets | 44,493 | 26,978 |
| Operating lease liabilities | (17,338) | (19,723) |
| Accounts payable and other liabilities | (89,548) | (107,356) |
| Income taxes payable and receivable | 8,800 | 8,610 |
| Deferred revenue | 17,942 | 15,366 |
| Net cash provided by operating activities | 64,054 | 25,167 |
| Cash flows from investing activities: | ||
| Capital expenditures | (15,712) | (21,863) |
| Net proceeds from the sales of businesses and investments | 159,678 | 1,179 |
| Net proceeds from sales of assets | 12,660 | 29,388 |
| Proceeds from maturities of marketable debt securities | 137,500 | 137,500 |
| Purchases of marketable debt securities | (123,104) | (98,520) |
| Other, net | 1,199 | 4,290 |
| Net cash provided by investing activities | 172,221 | 51,974 |
| Cash flows from financing activities: | ||
| Principal payments on Dotdash Meredith Term Loans | (7,500) | (7,500) |
| Withholding taxes paid on behalf of IAC employees on net settled stock-based awards | (8,248) | (2,236) |
| Withholding taxes paid on behalf of Angi Inc. employees on net settled stock-based awards | (3,214) | (1,379) |
| Purchases of Angi Inc. treasury stock | (6,860) | — |
| Purchases of IAC treasury stock | — | (84,720) |
| Other, net | (152) | (140) |
| Net cash used in financing activities | (25,974) | (95,975) |
| Total cash provided (used) | 210,301 | (18,834) |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | (741) | 322 |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 209,560 | (18,512) |
| Cash and cash equivalents and restricted cash at beginning of period | 1,306,241 | 1,426,069 |
| Cash and cash equivalents and restricted cash at end of period | $1,515,801 | $1,407,557 |
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