IAC Inc
For the period ended Sep 30, 2024. Filed Nov 12, 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.
Sep 30, 2024 · Filed Nov 12, 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
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| (In thousands) | ||
| Cash flows from operating activities: | ||
| Net loss | $(333,940) | $(68,333) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Unrealized loss (gain) on investment in MGM Resorts International | 361,805 | (209,057) |
| Amortization of intangibles | 109,793 | 170,162 |
| Depreciation | 96,466 | 136,231 |
| Stock-based compensation expense | 86,237 | 88,096 |
| Provision for credit losses | 45,991 | 71,294 |
| Non-cash lease expense (including right-of-use asset impairments) | 42,564 | 85,647 |
| Deferred income taxes | (109,937) | (17,583) |
| Unrealized (increase) decrease in the estimated fair value of a warrant | (20,393) | 1,274 |
| Gains on sales of businesses and investments in equity securities (including downward and upward adjustments), net | (16,530) | (2,521) |
| Goodwill impairment | — | 9,000 |
| Other adjustments, net | (6,364) | (7,521) |
| Changes in assets and liabilities, net of effects of dispositions: | ||
| Accounts receivable | 8,869 | 7,122 |
| Other assets | 88,269 | 10,017 |
| Operating lease liabilities | (51,821) | (56,440) |
| Accounts payable and other liabilities | (58,855) | (82,745) |
| Income taxes payable and receivable | (3,257) | (687) |
| Deferred revenue | 5,528 | 8,688 |
| Net cash provided by operating activities | 244,425 | 142,644 |
| Cash flows from investing activities: | ||
| Capital expenditures | (47,304) | (126,558) |
| Net proceeds from sales of assets | 12,751 | 28,973 |
| Proceeds from maturities of marketable debt securities | 350,000 | 387,500 |
| Purchases of marketable debt securities | (221,788) | (320,110) |
| Net proceeds from the sales of businesses and investments | 173,556 | 9,186 |
| Purchase of retirement investment fund | (15,253) | — |
| Proceeds from the sale of retirement investment fund | 2,326 | — |
| Decrease in notes receivable | 10,083 | 11,297 |
| Purchases of investments | — | (103,555) |
| Other, net | 220 | 9,902 |
| Net cash provided by (used in) investing activities | 264,591 | (103,365) |
| Cash flows from financing activities: | ||
| Principal payments on Dotdash Meredith Term Loans | (22,500) | (22,500) |
| Withholding taxes paid on behalf of IAC employees on net settled stock-based awards | (14,616) | (8,336) |
| Withholding taxes paid on behalf of Angi Inc. employees on net settled stock-based awards | (5,652) | (4,780) |
| Purchases of Angi Inc. treasury stock | (25,675) | (3,397) |
| Purchases of IAC treasury stock | — | (165,622) |
| Purchase of noncontrolling interests | (16,019) | — |
| Other, net | (230) | 37 |
| Net cash used in financing activities | (84,692) | (204,598) |
| Total cash provided (used) | 424,324 | (165,319) |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | 530 | 48 |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 424,854 | (165,271) |
| 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 | $1,731,095 | $1,260,798 |
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