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Table of Contents
IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 14—SEGMENT INFORMATION (Continued)
The following tables reconcile segment assets to total assets (in thousands):
NOTE 15—DISCONTINUED OPERATIONS
On December 1, 2010, IAC completed the tax-free exchange of Evite, Gifts.com, IAC Advertising Solutions and $217.9 million in cash for
substantially all of Liberty's equity stake in IAC resulting in a gain of $140.8 million. In addition, during the fourth quarter of 2010,
InstantAction ceased operations. During 2008, IAC completed the Spin-Off and sold EPI for $34.9 million, which resulted in a pre-tax loss of
$37.4 million and an after-tax gain of $22.3 million. The net assets of EPI included goodwill of $19.1 million.
Discontinued operations include Evite, Gifts.com and IAC Advertising Solutions through December 1, 2010, HSNi, ILG, Ticketmaster and
Tree.com through August 20, 2008, EPI through May 30, 2008, and InstantAction for all periods presented.
102
December 31, 2010
Segment Assets
Goodwill
Indefinite
-
lived
Intangibles
Definite
-
lived
Intangibles
Total Assets
Search
280,773
551,454
$
168,500
1,941
1,002,668
Match(c)
196,177
297,974
42,118
979
537,248
ServiceMagic
13,834
109,917
12,823
3,231
139,805
Media & Other
43,674
30,148
13,580
1,872
89,274
Corporate(d)
1,670,559
—
—
—
1,670,559
Total
2,205,017
989,493
$
237,021
8,023
3,439,554
December 31, 2009
Segment Assets Goodwill Indefinite-lived
Intangibles Definite-lived
Intangibles Total Assets
Search
250,475
545,054
$
179,500
3,290
978,319
Match(c)
233,919
253,812
35,314
2,765
525,810
ServiceMagic
21,607
110,689
12,823
5,253
150,372
Media & Other
23,973
58,180
18,100
3,887
104,140
Corporate(d)
2,257,248
—
—
—
2,257,248
Total
2,787,222
967,735
$
245,737
15,195
4,015,889
(c) Included in the segment assets of Match is its investment in Meetic, which is accounted for as an equity method
investment.
(d)
Corporate assets consist primarily of cash and cash equivalents, marketable securities and IAC's headquarters building.