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IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 22—GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION
The 2013 and 2012 Senior Notes are unconditionally guaranteed, jointly and severally, by certain domestic subsidiaries which are 100%
owned by the Company. The following tables present condensed consolidating financial information at December 31, 2013 and December 31,
2012 and for the years ended December 31, 2013 , 2012 and 2011 for: IAC, on a stand-alone basis; the combined guarantor subsidiaries of IAC;
the combined non-guarantor subsidiaries of IAC; and IAC on a consolidated basis.
Balance sheet at December 31, 2013:
84
IAC
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries
Total Eliminations
IAC Consolidated
(In thousands)
Cash and cash equivalents
$
782,022
$
—
$
318,422
$
—
$
1,100,444
Marketable securities
1,007
—
4,997
—
6,004
Accounts receivable, net
38
124,693
82,677
—
207,408
Other current assets
45,111
73,343
43,890
(814
)
161,530
Intercompany receivables —
556,370
860,083
(1,416,453
)
—
Property and equipment, net
5,316
220,742
67,906
—
293,964
Goodwill —
1,179,317
496,006
—
1,675,323
Intangible assets, net —
300,845
144,491
—
445,336
Investment in subsidiaries
3,833,751
599,595
—
(
4,433,346
)
—
Other non-current assets
83,207
15,485
252,612
(6,629
)
344,675
Total assets
$
4,750,452
$
3,070,390
$
2,271,084
$
(5,857,242
)
$
4,234,684
Accounts payable, trade
$
4,310
$
47,098
$
26,245
$
—
$
77,653
Other current liabilities
41,623
248,413
219,208
—
509,244
Long-term debt, net of current maturities
1,000,000
80,000
—
—
1,080,000
Income taxes payable
383,926
6,768
25,690
—
416,384
Intercompany liabilities
1,416,453
—
—
(
1,416,453
)
—
Other long-term liabilities
217,404
96,114
73,066
(7,443
)
379,141
Redeemable noncontrolling interests —
—
42,861
—
42,861
IAC shareholders' equity
1,686,736
2,591,997
1,841,349
(4,433,346
)
1,686,736
Noncontrolling interests —
—
42,665
—
42,665
Total liabilities and shareholders' equity
$
4,750,452
$
3,070,390
$
2,271,084
$
(5,857,242
)
$
4,234,684