ServiceMagic 2014 Annual Report Download - page 108

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IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 16—SUPPLEMENTAL CASH FLOW INFORMATION
Supplemental Disclosure of Non-Cash Transactions:
The Company recorded acquisition-related contingent consideration liabilities of $8.8 million and $41.4 million during the years 2014 and
2013, respectively. See Note 7 for additional information on contingent consideration arrangements.
Supplemental Disclosure of Cash Flow Information:
NOTE 17—RELATED PARTY TRANSACTIONS
Each of the Company and Expedia has a 50% ownership interest in two aircraft that may be used by both companies. The Company and
Expedia purchased the second of these two aircraft during 2013. The Company paid $25 million ( 50% of the total purchase price and refurbish
costs) for its interest. Members of the aircrafts' flight crews are employed by an entity in which each of the Company and Expedia has a 50%
ownership interest. The Company and Expedia have agreed to share costs relating to flight crew compensation and benefits pro-rata according to
each company's respective usage of the aircraft, for which they are separately billed by the entity described above. The Company and Expedia are
related parties since they are under common control, given that Mr. Diller serves as Chairman and Senior Executive of both IAC and Expedia. For
the years ended December 31, 2014 , 2013 and 2012 , total payments made to this entity by the Company were not material.
NOTE 18—BENEFIT PLANS
IAC has a retirement savings plan in the United States that qualifies under Section 401(k) of the Internal Revenue Code. Participating
employees may contribute up to 50% of their pre-tax earnings, but not more than statutory limits. IAC contributes fifty cents for each dollar a
participant contributes in this plan, with a maximum contribution of 3% of a participant's eligible earnings. Matching contributions for the plan for
the years ended December 31, 2014 , 2013 and 2012 are $7.5 million , $6.5 million and $6.5 million , respectively. Matching contributions are
invested in the same manner as each participant's voluntary contributions in the investment options provided under the plan. An investment option
in the plan is IAC common stock, but neither participant nor matching contributions are required to be invested in IAC common stock.
IAC also has or participates in various benefit plans, principally defined contribution plans, for its international employees. IAC's
contributions for these plans for the years ended December 31, 2014 , 2013 and 2012 are $2.5 million , $2.9 million and $2.3 million
, respectively.
83
Years Ended December 31,
2014
2013
2012
(In thousands)
Cash paid (received) during the year for:
Interest
$
54,027
$
28,705
$
5,214
Income tax payments
63,521
112,087
43,316
Income tax refunds
(10,477
)
(17,683
)
(8,187
)