Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2018	Oct. 26, 2018
Entity Information:
Entity Registrant Name	LendingTree, Inc.
Entity Central Index Key	0001434621
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		12,827,755
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q3

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue	$ 197,057	$ 171,494	$ 562,193	$ 456,782
Costs and expenses:
Cost of revenue (exclusive of depreciation and amortization shown separately below)	10,838	4,388	22,577	12,143
Selling and marketing expense	124,400	118,538	374,390	320,930
General and administrative expense	22,980	17,920	70,553	41,561
Product development	6,608	4,805	18,835	12,492
Depreciation	1,895	1,798	5,199	5,309
Amortization of intangibles	5,701	3,817	13,628	9,034
Change in fair value of contingent consideration	2,105	2,501	1,197	20,640
Severance	2,328	0	2,331	404
Litigation settlements and contingencies	(88)	272	(280)	961
Total costs and expenses	176,767	154,039	508,430	423,474
Operating income	20,290	17,455	53,763	33,308
Other income (expense):
Interest expense, net	(2,393)	(2,804)	(8,305)	(4,048)
Other expense	(69)	(228)	(106)	(215)
Income before income taxes	17,828	14,423	45,352	29,045
Income tax benefit (expense)	10,534	(4,292)	63,716	(3,109)
Net income from continuing operations	28,362	10,131	109,068	25,936
Loss from discontinued operations, net of tax	(2,634)	(1,011)	(9,269)	(2,632)
Net income and comprehensive income	$ 25,728	$ 9,120	$ 99,799	$ 23,304
Weighted average shares outstanding:
Basic	12,799	11,999	12,437	11,931
Diluted	13,850	13,774	14,299	13,625
Income per share from continuing operations:
Basic (in dollars per share)	$ 2.22	$ 0.84	$ 8.77	$ 2.17
Diluted (in dollars per share)	2.05	0.74	7.63	1.90
Loss per share from discontinued operations:
Basic (in dollars per share)	(0.21)	(0.08)	(0.75)	(0.22)
Diluted (in dollars per share)	(0.19)	(0.07)	(0.65)	(0.19)
Net income per share:
Basic (in dollars per share)	2.01	0.76	8.02	1.95
Diluted (in dollars per share)	$ 1.86	$ 0.66	$ 6.98	$ 1.71

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
ASSETS:
Cash and cash equivalents	$ 265,194	$ 368,550
Restricted cash and cash equivalents	47	4,091
Accounts receivable (net of allowance of $1,518 and $675, respectively)	79,444	53,444
Prepaid and other current assets	16,411	11,881
Current assets of discontinued operations	175	75
Total current assets	361,271	438,041
Property and equipment (net of accumulated depreciation of $13,609 and $13,043, respectively)	40,448	36,431
Goodwill	166,330	113,368
Intangible assets, net	95,970	81,125
Deferred income tax assets	75,484	20,156
Other non-current assets	1,708	1,910
Non-current assets of discontinued operations	2,428	2,428
Total assets	743,639	693,459
LIABILITIES:
Accounts payable, trade	13,355	9,250
Accrued expenses and other current liabilities	68,711	77,183
Current contingent consideration	7,327	46,576
Current liabilities of discontinued operations	18,988	14,507
Total current liabilities	108,381	147,516
Long-term debt	247,696	238,199
Non-current contingent consideration	9,019	11,273
Other non-current liabilities	2,077	1,597
Total liabilities	367,173	398,585
Commitments and contingencies
SHAREHOLDERS' EQUITY:
Preferred stock $.01 par value; 5,000,000 shares authorized; none issued or outstanding	0	0
Common stock $.01 par value; 50,000,000 shares authorized; 15,390,409 and 14,218,572 shares issued, respectively, and 12,945,961 and 11,979,434 shares outstanding, respectively	154	142
Additional paid-in capital	1,125,185	1,087,582
Accumulated deficit	(607,182)	(708,354)
Treasury stock; 2,444,448 and 2,239,138 shares, respectively	(142,268)	(85,085)
Noncontrolling interest	577	589
Total shareholders' equity	376,466	294,874
Total liabilities and shareholders' equity	$ 743,639	$ 693,459

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Accounts receivable, allowance (in dollars)	$ 1,518	$ 675
Accumulated depreciation of property and equipment	$ 13,609	$ 13,043
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares	5,000,000	5,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares	50,000,000	50,000,000
Common stock, issued shares	15,390,409	14,218,572
Common stock, outstanding shares	12,945,961	11,979,434
Treasury stock, shares	2,444,448	2,239,138

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - 9 months ended Sep. 30, 2018 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock	Comprehensive Income (Loss)	Noncontrolling interest
Balance at Dec. 31, 2017	$ 294,874	$ 142	$ 1,087,582	$ (708,354)	$ (85,085)		$ 589
Balance (in shares) at Dec. 31, 2017		14,218,000			2,239,000
Increase (Decrease) in Stockholders' Equity
Net income and comprehensive income	99,799			99,799		$ 99,799
Non-cash compensation	$ 34,384		34,384
Purchase of treasury stock (in shares)	205,310				205,000
Purchase of treasury stock	$ (57,183)				$ (57,183)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	3,236	$ 12	3,224
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes (in shares)		1,172,000
Cumulative effect adjustment due to ASU 2014-09	1,373			1,373
Issuance of 0.625% Convertible Senior Notes, net	5		5
Noncontrolling interest	(12)						(12)
Balance at Sep. 30, 2018	$ 376,466	$ 154	$ 1,125,185	$ (607,182)	$ (142,268)		$ 577
Balance (in shares) at Sep. 30, 2018		15,390,000			2,444,000

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities attributable to continuing operations:
Net income and comprehensive income	$ 99,799	$ 23,304
Less: Loss from discontinued operations, net of tax	9,269	2,632
Net income from continuing operations	109,068	25,936
Adjustments to reconcile income from continuing operations to net cash provided by operating activities attributable to continuing operations:
Loss on impairments and disposal of assets	1,986	673
Amortization of intangibles	13,628	9,034
Depreciation	5,199	5,309
Rental amortization of intangibles and depreciation	554	1,011
Non-cash compensation expense	34,384	13,068
Deferred income taxes	(64,435)	(5,571)
Change in fair value of contingent consideration	1,197	20,640
Bad debt expense	922	401
Amortization of debt issuance costs	1,308	622
Amortization of convertible debt discount	8,497	3,635
Changes in current assets and liabilities:
Accounts receivable	(23,387)	(22,271)
Prepaid and other current assets	(2,970)	(5,070)
Accounts payable, accrued expenses and other current liabilities	(7,910)	19,361
Current contingent consideration	(21,900)	0
Income taxes receivable	4,223	(1,399)
Other, net	137	296
Net cash provided by operating activities attributable to continuing operations	60,227	65,083
Cash flows from investing activities attributable to continuing operations:
Capital expenditures	(10,640)	(5,925)
Other investing activities	(12)	0
Net cash used in investing activities attributable to continuing operations	(79,793)	(72,322)
Cash flows from financing activities attributable to continuing operations:
Proceeds from exercise of stock options, net of payments related to net-share settlement of stock-based compensation	3,236	1,065
Contingent consideration payments	(26,600)	0
Proceeds from the issuance of 0.625% Convertible Senior Notes	0	300,000
Payment of convertible note hedge transactions	0	(61,500)
Proceeds from the sale of warrants	0	43,410
Payment of debt issuance costs	(100)	(9,264)
Purchase of treasury stock	(57,018)	(10,001)
Net cash (used in) provided by financing activities attributable to continuing operations	(80,482)	263,710
Total cash (used in) provided by continuing operations	(100,048)	256,471
Net cash used in operating activities attributable to discontinued operations	(7,352)	(2,365)
Total cash used in discontinued operations	(7,352)	(2,365)
Net (decrease) increase in cash, cash equivalents, restricted cash and restricted cash equivalents	(107,400)	254,106
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	372,641	95,220
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	265,241	349,326
Student Loan Hero
Cash flows from investing activities attributable to continuing operations:
Acquisition of businesses, net of cash acquired	(57,448)	0
Ovation
Adjustments to reconcile income from continuing operations to net cash provided by operating activities attributable to continuing operations:
Change in fair value of contingent consideration	900
Cash flows from investing activities attributable to continuing operations:
Acquisition of businesses, net of cash acquired	(11,683)	0
SnapCap
Adjustments to reconcile income from continuing operations to net cash provided by operating activities attributable to continuing operations:
Change in fair value of contingent consideration	1,800
Cash flows from investing activities attributable to continuing operations:
Acquisition of businesses	(10)	(11,886)
DepositAccounts
Adjustments to reconcile income from continuing operations to net cash provided by operating activities attributable to continuing operations:
Change in fair value of contingent consideration	1,400
Cash flows from investing activities attributable to continuing operations:
Acquisition of businesses	0	(25,000)
MagnifyMoney
Cash flows from investing activities attributable to continuing operations:
Acquisition of businesses, net of cash acquired	$ 0	$ (29,511)

ORGANIZATION (Note)	9 Months Ended
ORGANIZATION (Note)	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Company Overview LendingTree, Inc. ("LendingTree" or the "Company"), is the parent of LendingTree, LLC and several companies owned by LendingTree, LLC. LendingTree operates what it believes to be the leading online loan marketplace for consumers seeking loans and other credit-based offerings. The Company offers consumers tools and resources, including free credit scores, that facilitate comparison-shopping for mortgage loans, home equity loans and lines of credit, reverse mortgage loans, auto loans, credit cards, deposit accounts, personal loans, student loans, small business loans and other related offerings. The Company primarily seeks to match in-market consumers with multiple lenders on its marketplace who can provide them with competing quotes for the loans, deposits or credit-based offerings they are seeking. The Company also serves as a valued partner to lenders seeking an efficient, scalable and flexible source of customer acquisition with directly measurable benefits, by matching the consumer loan inquiries it generates with these lenders. The consolidated financial statements include the accounts of LendingTree and all its wholly-owned entities. Intercompany transactions and accounts have been eliminated. Discontinued Operations The LendingTree Loans business is presented as discontinued operations in the accompanying consolidated balance sheets, consolidated statements of operations and comprehensive income and consolidated cash flows for all periods presented. The notes accompanying these consolidated financial statements reflect the Company's continuing operations and, unless otherwise noted, exclude information related to the discontinued operations. See Note 15 —Discontinued Operations for additional information. Basis of Presentation The accompanying unaudited interim consolidated financial statements as of September 30, 2018 and for the three and nine months ended September 30, 2018 and 2017, respectively, have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). In the opinion of management, the unaudited interim consolidated financial statements have been prepared on the same basis as the audited financial statements, and include all adjustments, consisting only of normal recurring adjustments, necessary for the fair statement of the Company's financial position for the periods presented. The results for the three and nine months ended September 30, 2018 are not necessarily indicative of the results to be expected for the year ending December 31, 2018, or any other period. The accompanying consolidated balance sheet as of December 31, 2017 was derived from audited financial statements included in the Company's annual report on Form 10-K for the year ended December 31, 2017 (the "2017 Annual Report"). The accompanying consolidated financial statements do not include all of the information and footnotes required by GAAP for annual financial statements. Accordingly, they should be read in conjunction with the audited financial statements and notes thereto included in the 2017 Annual Report. Certain prior year amounts have been reclassified to conform to current year presentation. See the discussion in Note 2—Significant Accounting Policies for the impact of adopting Accounting Standards Update ("ASU") 2016-18 on the presentation of changes in restricted cash in the statement of cash flows.

SIGNIFICANT ACCOUNTING POLICIES (Note)

9 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

Accounting Estimates

Management is required to make certain estimates and assumptions during the preparation of the consolidated financial statements in accordance with GAAP. These estimates and assumptions impact the reported amount of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. They also impact the reported amount of net earnings during any period. Actual results could differ from those estimates.

Significant estimates underlying the accompanying consolidated financial statements, including discontinued operations, include: loan loss obligations; the recoverability of long-lived assets, goodwill and intangible assets; the determination of income taxes payable and deferred income taxes, including related valuation allowances; fair value of assets acquired in a business combination; contingent consideration related to business combinations; litigation accruals; contract assets; various other allowances, reserves and accruals; and assumptions related to the determination of stock-based compensation.

Certain Risks and Concentrations

LendingTree's business is subject to certain risks and concentrations including dependence on third-party technology providers, exposure to risks associated with online commerce security and credit card fraud.

Financial instruments, which potentially subject the Company to concentration of credit risk at September 30, 2018, consist primarily of cash and cash equivalents and accounts receivable, as disclosed in the consolidated balance sheet. Cash and cash equivalents are in excess of Federal Deposit Insurance Corporation insurance limits, but are maintained with quality financial institutions of high credit. The Company generally requires certain network lenders to maintain security deposits with the Company, which in the event of non-payment, would be applied against any accounts receivable outstanding.

Due to the nature of the mortgage lending industry, interest rate fluctuations may negatively impact future revenue from the Company's lender marketplace.

Lenders participating on the Company's marketplace can offer their products directly to consumers through brokers, mass marketing campaigns or through other traditional methods of credit distribution. These lenders can also offer their products online, either directly to prospective borrowers, through one or more online competitors, or both. If a significant number of potential consumers are able to obtain loans from participating lenders without utilizing the Company's services, its ability to generate revenue may be limited. Because the Company does not have exclusive relationships with the lenders whose loan offerings are offered on its online marketplace, consumers may obtain offers and loans from these lenders without using its services.

The Company maintains operations solely in the United States.

Litigation Settlements and Contingencies

Litigation settlements and contingencies consists of expenses related to actual or anticipated litigation settlements, in addition to legal fees incurred in connection with various patent litigation claims the Company pursues against others.

Recent Accounting Pronouncements

In August 2018, the Financial Accounting Standards Board ("FASB") issued ASU 2018-15 which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This ASU is effective for annual and interim reporting periods beginning after December 15, 2019. Early adoption is permitted, including adoption in any interim period. The amendments should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company is evaluating the impact this ASU will have on its consolidated financial statements and whether to early adopt.

In August 2018, the FASB issued ASU 2018-13 which removes, modifies and adds certain disclosure requirements in Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurement. This ASU is effective for annual and interim reporting periods beginning after December 15, 2019, with early adoption permitted. Entities are permitted to adopt any removed or modified disclosures and delay adoption of the additional disclosures until the effective date of the ASU. Certain amendments must be applied prospectively while others are to be applied on a retrospective basis to all periods presented. The Company is evaluating the impact this ASU will have on its consolidated financial statements and whether to early adopt.

In June 2018, the FASB issued ASU 2018-07 which simplifies the accounting for nonemployee share-based payments by expanding the scope of ASC Topic 718, Compensation—Stock Compensation, to include share-based payment transactions for acquiring goods and services from nonemployees. Under the new guidance, most of the initial and subsequent measurement for such payments to nonemployees is aligned with the requirements for share-based payments to employees. This ASU is effective for annual and interim reporting periods beginning after December 15, 2018, with early adoption permitted. Entities must transition to the new guidance through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company early-adopted this ASU during the second quarter of 2018, with no impact to its consolidated financial statements.

In May 2017, the FASB issued ASU 2017-09 which clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions or the classification of the award changes as a result of the change in terms or conditions. This ASU is effective prospectively for annual periods beginning on or after December 15, 2017, and early adoption was permitted. The Company adopted this ASU during the first quarter of 2018.

In January 2017, the FASB issued ASU 2017-04 which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge (Step 2 of the goodwill impairment test). Instead, an impairment charge will be based on the excess of the carrying amount over the fair value. This ASU is effective for annual and interim impairment tests performed in periods beginning after December 15, 2019. Early adoption is permitted for annual and interim goodwill impairment testing dates after January 1, 2017. The Company is evaluating the impact this ASU will have on its consolidated financial statements and whether to early adopt.

In November 2016, the FASB issued ASU 2016-18 which is intended to reduce the diversity in the classification and presentation of changes in restricted cash in the statement of cash flows, by requiring entities to combine the changes in cash and cash equivalents and restricted cash in one line. As a result, entities will no longer present transfers between cash and cash equivalents and restricted cash in the statement of cash flows. In addition, if more than one line item is recorded on the balance sheet for cash and cash equivalents and restricted cash, a reconciliation between the statement of cash flows and balance sheet is required. This ASU is effective for annual and interim reporting periods beginning after December 15, 2017, and early adoption was permitted. The retrospective transition method, requiring adjustment to all comparative periods presented, is required. The Company adopted this ASU during the first quarter of 2018. The adoption resulted in an immaterial reclassification of cash inflows from investing activities to operating activities for the nine months ended September 30, 2017. See Note 4—Cash and Restricted Cash for the reconciliation of cash and cash equivalents and restricted cash reported on the balance sheet to the total of such amounts shown on the statement of cash flows.

In August 2016, the FASB issued ASU 2016-15 which addresses eight cash flow classification issues, eliminating the diversity in practice. This ASU is effective for annual and interim reporting periods beginning after December 15, 2017, and early adoption was permitted. The retrospective transition method, requiring adjustment to all comparative periods presented, is required unless it is impracticable for some of the amendments, in which case those amendments would be prospectively applied as of the earliest date practicable. The Company adopted this ASU during the first quarter of 2018, and there was no adjustment to prior periods. Pursuant to adoption of this ASU, contingent consideration payments made are classified as cash outflows from financing activities up to the amount of the contingent consideration liability recognized at the acquisition date, and the portion of payments in excess of that initial liability are classified as cash outflows from operating activities. See Note 6—Business Acquisitions for additional information.

In February 2016, the FASB issued ASU 2016-02 related to leases. This ASU introduces ASC Topic 842, Leases, which will supersede the existing lease accounting guidance in ASC Topic 840, Leases. This ASU is effective for annual and interim reporting periods beginning after December 15, 2018, with early adoption permitted. In July 2018, the FASB issued ASU 2018-10 which clarifies certain narrow aspects of implementing ASU 2016-02, including clarifications related to the rate implicit in the lease, lessee reassessment of lease classification, lessor reassessment of lease term and purchase options, variable payments that depend on an index or rate, and impairment of the net investment in the lease. In the same month, the FASB issued ASU 2018-11 which provides an optional transition method that allows entities to initially apply the lease accounting transition requirements at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption without restating comparative prior periods presented. ASU 2018-11 also includes a practical expedient for lessors to not separate the lease and nonlease components of a contract. ASU 2018-10 and ASU 2018-11 must be adopted concurrently with the adoption of ASU 2016-02 (collectively, "ASC Topic 842"). The Company is developing an inventory of lease arrangements and evaluating the impact ASC Topic 842 will have on its consolidated financial statements, which includes the recognition of right-of-use assets and lease liabilities related to operating leases greater than one year in duration for which the Company is the lessee. The Company will adopt ASC Topic 842 as of January 1, 2019 through a cumulative effect adjustment to the opening balance of accumulated deficit in the period of adoption without restating comparative prior periods presented.

In May 2014, the FASB issued ASU 2014-09 related to revenue recognition. This guidance introduces ASC Topic 606, Revenue from Contracts with Customers, and supersedes the revenue recognition requirements in ASC Topic 605, Revenue Recognition. In 2016, the FASB issued final amendments clarifying implementation guidance for principal versus agent considerations, identifying performance obligations, assessing collectability, presenting sales taxes, measuring noncash consideration and certain other transition matters. The clarification ASUs must be adopted concurrently with the adoption of ASU 2014-09 (collectively, "ASC Topic 606"). Under the new ASUs, the timing of recognizing revenue for closing fees and approval fees in the Company's non-mortgage product category has been accelerated to the point when a loan request or a credit card consumer is delivered to the customer as opposed to when the consumer loan is closed by the lender or credit card approval is made by the issuer and communicated to the Company.

The Company has adopted ASC Topic 606 as of January 1, 2018 using the modified retrospective transition approach. The Company recognized the cumulative effect of initially applying ASC Topic 606 as an adjustment to the opening balance of accumulated deficit. Under this approach, revenue for 2017 is reported in the consolidated statements of operations and comprehensive income on the historical basis, and revenue for 2018 is reported in the consolidated statements of operations and comprehensive income under ASC Topic 606. A comparison of revenue for 2018 periods to the historical basis is included below. The Company does not expect the adoption of ASC Topic 606 to have a material effect on annual revenue or net income from continuing operations on an ongoing basis. See Note 3—Revenue for additional information.

The cumulative effect of the changes made to the consolidated January 1, 2018 balance sheet for the adoption of ASC Topic 606 were as follows (in thousands):



	December 31, 2017			Adjustments due to ASC Topic 606			January 1, 2018
Assets:
Prepaid and other current assets	$	11,881		$	1,903		$	13,784
Deferred income tax assets	20,156			(530		)	19,626

Shareholders' equity:
Accumulated deficit	$	(708,354	)	$	1,373		$	(706,981	)

The impact of adoption on the consolidated income statement and balance sheet for the periods ended September 30, 2018 was as follows (in thousands):



	Three Months Ended September 30, 2018							Nine Months Ended September 30, 2018
	As Reported		Balances without adoption of ASC Topic 606		Effect of Change			As Reported		Balances without adoption of ASC Topic 606		Effect of Change
Revenue	$	197,057	$	196,316	$	741		$	562,193	$	560,560	$	1,633

Costs and expenses:
Income tax benefit	10,534		10,733		(199		)	63,716		64,146		(430		)

Net income from continuing operations	$	28,362	$	27,820	$	542		$	109,068	$	107,865	$	1,203



	September 30, 2018
	As Reported			Balances without adoption of ASC Topic 606			Effect of Change
Assets:
Prepaid and other current assets	$	16,411		$	12,103		$	4,308
Deferred income tax assets	75,484			76,014			(530		)

Shareholders' equity:
Accumulated deficit	$	(607,182	)	$	(610,960	)	$	3,778

REVENUE (Note)

9 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

REVENUE

Revenue is as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Revenue:
Mortgage products	$	55,287	$	73,756	$	195,697	$	208,209
Non-mortgage products
Credit cards	42,698		39,369		127,577		110,134
Personal loans	38,569		25,449		100,744		62,984
Other	60,503		32,920		138,175		75,455
Total non-mortgage products	141,770		97,738		366,496		248,573
Total revenue	$	197,057	$	171,494	$	562,193	$	456,782

The Company derives its revenue primarily from match fees and closing fees. Revenue is recognized when performance obligations under the terms of a contract with a customer are satisfied and promised services have transferred to the customer. In identifying performance obligations, judgment is required around contracts where there was a possibility of bundled services and multiple parties. In applying judgment, the Company considered customer expectations of performance, materiality and the core principles of ASC Topic 606. The Company's services are generally transferred to the customer at a point in time.

Variable consideration is included in revenue if it is probable that a significant future reversal of cumulative revenue under the contract will not occur.

Revenue within the mortgage product category is primarily generated from upfront match fees paid by network lenders that receive a loan request, and in some cases upfront fees for clicks or call transfers. Match fees and upfront fees for clicks and call transfers are earned through the delivery of loan requests that originated through the Company's websites or affiliates. The Company recognizes revenue at the time a loan request is delivered to the customer, provided that no significant obligations remain. Revenue recognition on match fees was not impacted by the adoption of ASC Topic 606, as the Company's contractual right to the match fee consideration is contemporaneous with the satisfaction of the performance obligation to deliver a loan request to the customer.

In addition to match and other upfront fees, revenue within the non-mortgage product category is also generated from closing fees and approval fees.

Closing fees are derived from lenders on certain auto loans, business loans, personal loans and student loans when the lender funds a loan with the consumer. Prior to the adoption of ASC Topic 606, closed loan fees were recognized at the time the lender reported the closed loan to the Company, which could be several months after the original request was transmitted.

Approval fees are derived from credit card issuers when the credit card consumer receives card approval from the credit card issuer. Prior to the adoption of ASC Topic 606, approval fees were recognized at the time the credit card issuer reported the card approval for the consumer to the Company, which is generally within two weeks after the consumer's request was transmitted.

Under ASC Topic 606, the timing of recognizing revenue for closing fees and approval fees is accelerated to the point when a loan request or a credit card consumer is delivered to the customer, as opposed to when the consumer loan is closed by the lender or credit card approval is made by the issuer. The Company's contractual right to closing fees and approval fees is not contemporaneous with the satisfaction of the performance obligation to deliver a loan request or a credit card consumer to the customer. As such, the Company will record a contract asset at each reporting period-end related to the estimated variable consideration on closing fees and approval fees for which the Company has satisfied the related performance obligation, but are still pending the loan closing or credit card approval before the Company has a contractual right to payment. This estimate is based on the Company's historical closing rates and historical time between when a consumer request for a loan or credit card is delivered to the lender or card issuer and when the loan is closed by the lender or approved by the card issuer. The time between satisfaction of the Company's performance obligation and when the Company's right to consideration becomes unconditional is generally less than 90 days.

Upfront fees and subscription fees are derived from consumers in the Company's credit services business, which was acquired on June 11, 2018. Upfront fees paid by consumers are recognized as revenue over the estimated time the consumer will remain a customer and receive services. Subscription fees are recognized over the period a consumer is receiving services.

The contract asset recorded within prepaid and other current assets on the consolidated balance sheets related to estimated variable consideration was $1.9 million and $4.3 million on January 1, 2018 and September 30, 2018, respectively. The increase in the contract asset from January 1, 2018 to September 30, 2018 is primarily due to recent business acquisitions. During the third quarter of 2018, the Company established a contract asset for business loans from a recent acquisition, for which the Company has determined it has established sufficient historical information to determine an estimate. Additionally, the Company increased the contract asset balance for the acquisition of Student Loan Hero, Inc. (“Student Loan Hero”), which was acquired on July 23, 2018.

As a result of the acquisition of Ovation Credit Services, Inc. ("Ovation") on June 11, 2018, a $0.3 million contract liability was recorded within accrued expenses and other current liabilities on the September 30, 2018 consolidated balance sheet related to the upfront fees paid by consumers.

Revenue recognized in any reporting period includes estimated variable consideration for which the Company has satisfied the related performance obligations, but are still pending the occurrence or non-occurrence of a future event outside the Company's control (such as lenders providing loans to consumers or credit card approvals of consumers) before the Company has a contractual right to payment. The Company recognized a decrease to such revenue from prior periods of $0.1 million in the third quarter of 2018.

Both the mortgage and non-mortgage product categories are included in the Company's single reportable segment.

Our payment terms vary by customer and services offered. The term between invoicing and when payment is due is generally 30 days or less.

Sales commissions are incremental costs of obtaining contracts with customers. The Company expenses sales commissions when incurred as the duration of contracts with customers is less than one year, based on the right for either party to terminate the contract with less than one year's notice without compensation to either party. These costs are recorded within selling and marketing expense on the consolidated statements of operations and comprehensive income.

CASH AND RESTRICTED CASH (Note)

9 Months Ended

Sep. 30, 2018

Cash and Cash Equivalents [Abstract]

RESTRICTED CASH

CASH AND RESTRICTED CASH

Total cash, cash equivalents, restricted cash and restricted cash equivalents consist of the following (in thousands):



	September 30, 2018		December 31, 2017
Cash and cash equivalents	$	265,194	$	368,550
Restricted cash and cash equivalents	47		4,091
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$	265,241	$	372,641

Restricted cash and cash equivalents consists of the following (in thousands):



	September 30, 2018		December 31, 2017
Cash in escrow from sale of LendingTree Loans ^(a)	$	—	$	4,034
Other	47		57
Total restricted cash and cash equivalents	$	47	$	4,091

(a)

Home Loan Center, Inc. ("HLC"), a subsidiary of the Company, continues to be liable for certain indemnification obligations, repurchase obligations and premium repayment obligations following the sale of substantially all of the operating assets of its LendingTree Loans business in the second quarter of 2012. Of the purchase price received, a portion was deposited in escrow in accordance with the agreement with Discover for certain loan loss obligations that remain with the Company following the sale. During the second quarter of 2018, the remaining funds in escrow were released to the Company in accordance with the terms of the agreement with Discover.

See Note 16—Subsequent Events for additional information regarding cash and cash equivalents.

GOODWILL AND INTANGIBLE ASSETS (Note)

9 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

The balance of goodwill, net is as follows (in thousands):



	Goodwill		Accumulated Impairment Loss			Net Goodwill
Balance at December 31, 2017	$	596,456	$	(483,088	)	$	113,368
Acquisition of Ovation	11,280		—			11,280
Acquisition of Student Loan Hero	41,682		—			41,682
Balance at September 30, 2018	$	649,418	$	(483,088	)	$	166,330

The balance of intangible assets, net is as follows (in thousands):



	September 30, 2018		December 31, 2017
Intangible assets with indefinite lives	$	10,142	$	10,142
Intangible assets with definite lives, net	85,828		70,983
Total intangible assets, net	$	95,970	$	81,125

Goodwill and Indefinite-Lived Intangible Assets

The Company's goodwill is associated with its one reportable segment. Intangible assets with indefinite lives relate to the Company's trademarks.

Intangible Assets with Definite Lives

Intangible assets with definite lives relate to the following (in thousands):



	Cost		Accumulated Amortization			Net
Technology	$	43,500	$	(15,680	)	$	27,820
Customer lists	37,500		(5,969		)	31,531
Trademarks and tradenames	8,942		(3,040		)	5,902
Tenant leases	1,081		(550		)	531
Website content	24,200		(4,161		)	20,039
Other	255		(250		)	5
Balance at September 30, 2018	$	115,478	$	(29,650	)	$	85,828



	Cost		Accumulated Amortization			Net
Technology	$	37,500	$	(8,694	)	$	28,806
Customer lists	33,100		(3,239		)	29,861
Trademarks and tradenames	6,942		(1,992		)	4,950
Tenant leases	1,362		(504		)	858
Website content	7,800		(1,300		)	6,500
Other	256		(248		)	8
Balance at December 31, 2017	$	86,960	$	(15,977	)	$	70,983

Amortization of intangible assets with definite lives is computed on a straight-line basis and, based on balances as of September 30, 2018, future amortization is estimated to be as follows (in thousands):



	Amortization Expense
Remainder of current year	$	6,264
Year ending December 31, 2019	23,969
Year ending December 31, 2020	20,994
Year ending December 31, 2021	10,509
Year ending December 31, 2022	5,334
Thereafter	18,758
Total intangible assets with definite lives, net	$	85,828

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

BUSINESS ACQUISITION (Note)

9 Months Ended

Sep. 30, 2018

Business Combinations [Abstract]

BUSINESS ACQUISITION

2018 Acquisitions

Student Loan Hero

On July 23, 2018, the Company acquired Student Loan Hero, Inc., a personal finance website dedicated to helping student loan borrowers manage their student debt. Student Loan Hero offers current and former students in-depth financial comparison tools, educational resources, and unbiased, personalized advice. The Company made an upfront cash payment of $60.7 million at the closing of the transaction, of which $2.3 million was recognized as severance expense in the Company's consolidated statements of operations and comprehensive income. The Company has estimated a preliminary purchase price of $60.4 million, comprised of the upfront cash payment of $60.7 million less the $2.3 million recognized as severance expense, and an estimated $2.0 million post-closing increase to working capital.

The acquisition has been accounted for as a business combination. The preliminary allocation of purchase price to the assets acquired and liabilities assumed is as follows (in thousands):



	Preliminary Fair Value
Net working capital	$	5,159
Intangible assets	19,900
Goodwill	41,682
Net deferred tax liabilities	(6,323		)
Total preliminary purchase price	$	60,418

The Company primarily used the income approach for the valuation as appropriate, and used valuation inputs in these models and analyses that were based on market participant assumptions. Market participants are buyers and sellers unrelated to the Company and fair value is determined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction at the measurement date.

The acquired intangible assets are definite-lived assets consisting of content, customer relationships and trademarks and tradenames. The estimated fair values of the content was determined using excess earnings analysis, the customer relationships were determined using the distributor method and the trademarks and tradenames were determined using relief from royalty analysis. The fair value of the intangible assets with definite lives are as follows (dollars in thousands):



	Preliminary Fair Value		Weighted Average Amortization Life
Content	$	16,400	3 years
Customer lists	2,500		10 years
Trademarks and tradenames	1,000		5 years
Total intangible assets	$	19,900	4.0 years

As of September 30, 2018, the Company has not completed its determination of the final purchase price or the final allocation of the purchase price to the assets and liabilities of the acquisition. The purchase price and final allocation of purchase price is expected to be finalized in the fourth quarter of 2018. Any adjustment to the preliminary purchase price or the assets and liabilities assumed with the acquisition will adjust goodwill.

The Company recorded preliminary goodwill of $41.7 million, which represents the excess of the purchase price over the estimated fair value of tangible and intangible assets acquired, net of the liabilities assumed. The goodwill is primarily attributable to Student Loan Hero as a going concern, which represents the ability of the Company to earn a higher return on the collection of assets and business of Student Loan Hero than if those assets and business were to be acquired and managed separately. The benefit of access to the workforce is an additional element of goodwill. The goodwill is recorded in the Company’s one reportable segment. For income tax purposes, the acquisition was an equity purchase and the goodwill will not be tax deductible.

Acquisition-related costs were $0.2 million and $0.5 million, respectively, in the third quarter and first nine months of 2018, and are included in general and administrative expense on the consolidated statement of operations and comprehensive income.

Ovation

On June 11, 2018, the Company acquired Ovation Credit Services, Inc., a leading provider of credit services with a strong customer service reputation. Ovation utilizes a proprietary software application that facilitates the credit repair process and is integrated directly with certain credit bureaus while educating consumers on credit improvement via ongoing outreach with Ovation case advisors. The proprietary software application offers consumers a simple, streamlined process to identify, dispute, and correct inaccuracies within their credit reports.

The Company paid $12.2 million in initial cash consideration and could make up to two additional earnout payments, each ranging from zero to $4.375 million, based on certain defined operating metrics during the earnout periods July 1, 2018 through June 30, 2019 and July 1, 2019 through June 30, 2020. These additional payments, to the extent earned, will be payable in cash. The purchase price of $17.9 million is comprised of the upfront cash payment of $12.2 million, $5.8 million for the estimated fair value of the earnout payments, and a $0.1 million post-closing reduction to working capital.

As of September 30, 2018, the estimated fair value of the contingent consideration totaled $6.7 million, which is included in non-current contingent consideration in the accompanying balance sheet. The estimated fair value of the contingent consideration payments is determined using an option pricing model. The estimated value of the contingent consideration is based upon available information and certain assumptions, known at the time of this report, which management believes are reasonable. Any differences in the actual contingent consideration payments will be recorded in operating income in the consolidated statements of operations and comprehensive income. During the third quarter and first nine months of 2018, the Company recorded $0.9 million of contingent consideration expense in the consolidated statement of operations and comprehensive income due to the change in estimated fair value of the contingent consideration.

The acquisition has been accounted for as a business combination. The preliminary allocation of purchase price to the assets acquired and liabilities assumed is as follows (in thousands):



	Preliminary Fair Value
Net working capital	$	323
Fixed assets	76
Intangible assets	8,900
Goodwill	11,280
Net deferred tax liabilities	(2,708		)
Total purchase price	$	17,871

The acquired intangible assets are definite-lived assets consisting of developed technology, customer relationships and trademarks and tradenames. The estimated fair values of the developed technology were determined using excess earnings analysis, the customer relationships were determined using cost savings analysis and the trademarks and tradenames were determined using relief from royalty analysis. The fair value of the intangible assets with definite lives are as follows (dollars in thousands):



	Fair Value		Weighted Average Amortization Life
Technology	$	6,000	7 years
Customer lists	1,900		1 year
Trademarks and tradenames	1,000		4 years
Total intangible assets	$	8,900	5.4 years

As of September 30, 2018, the Company has not completed its determination of the final allocation of the purchase price to the assets and liabilities of the acquisition. The final allocation of purchase price is expected to be finalized in the fourth quarter of 2018. Any adjustment to the assets and liabilities assumed with the acquisition will adjust goodwill.

The Company recorded preliminary goodwill of $11.3 million, which represents the excess of the purchase price over the estimated fair value of tangible and intangible assets acquired, net of the liabilities assumed. The goodwill is primarily attributable to Ovation as a going concern, which represents the ability of the Company to earn a higher return on the collection of assets and business of Ovation than if those assets and business were to be acquired and managed separately. The benefit of access to the workforce is an additional element of goodwill. The goodwill is recorded in the Company’s one reportable segment. For income tax purposes, the acquisition was an equity purchase and the goodwill will not be tax deductible.

Acquisition-related costs were $0.1 million and $0.4 million, respectively, in the third quarter and first nine months of 2018, and are included in general and administrative expense on the consolidated statement of operations and comprehensive income.

Changes in Contingent Consideration

CompareCards

On November 16, 2016, the Company acquired all of the membership interests of Iron Horse Holdings, LLC, which does business under the name CompareCards ("CompareCards"). CompareCards is an online marketing platform for credit cards, which the Company is utilizing to grow its existing credit card business. The acquisition has been accounted for as a business combination. During 2017, the Company finalized the determination of the purchase price allocation with respect to the assets acquired and liabilities assumed.

The Company paid $80.7 million in initial cash consideration and agreed to make two earnout payments, each up to $22.5 million, based on the amount of earnings before interest, taxes, depreciation and amortization CompareCards generates during the periods of January 1, 2017 through December 31, 2017 and January 1, 2018 through December 31, 2018, or up to $45.0 million in aggregate payments. The purchase price for the acquisition is $103.8 million comprised of an upfront cash payment of $80.7 million on November 16, 2016 and $23.1 million for the estimated fair value of the earnout payments at the time of closing the acquisition. In the first quarter of 2018, the Company paid $22.5 million related to the earnout payment for the period of January 1, 2017 through December 31, 2017, which is included within cash flows from financing activities on the consolidated statement of cash flows. In the second quarter of 2018, the Company paid $22.5 million related to the earnout payment for the period of January 1, 2018 through December 31, 2018, of which $0.6 million is included within cash flows from financing activities and $21.9 million is included within cash flows from operating activities on the consolidated statement of cash flows.

During the first nine months of 2018, the Company recorded $0.7 million of contingent consideration expense within operating income in the consolidated statement of operations and comprehensive income due to the change in estimated fair value of the earnout payments.

DepositAccounts

On June 14, 2017, the Company acquired substantially all of the assets of Deposits Online, LLC, which does business under the name DepositAccounts.com (“DepositAccounts”). DepositAccounts is a leading consumer-facing media property in the depository industry and is one of the most comprehensive sources of depository deals and analysis on the Internet, covering all major deposit product categories through editorial content, programmatic rate tables and user-generated content. The acquisition has been accounted for as a business combination. During 2017, the Company finalized the determination of the purchase price allocation with respect to the assets acquired and liabilities assumed.

The Company paid $24.0 million of initial cash consideration and could make additional contingent consideration payments of up to $9.0 million. The potential contingent consideration payments are comprised of (i) up to seven payments of $1.0 million each based on specified increases in Federal Funds interest rates during the period commencing on the closing date and ending on June 30, 2020 and (ii) a one-time performance payment of up to $2.0 million based on the net revenue of deposit products during the period of January 1, 2018 through December 31, 2018. These additional payments, to the extent earned, will be payable in cash. The purchase price for the acquisition is $29.0 million, comprised of the upfront cash payment of $24.0 million and $5.0 million for the estimated fair value of the contingent consideration at the time of closing the acquisition.

In the third quarter of 2017, the Company made a payment of $1.0 million associated with a specified increase in the Federal Funds rate in June 2017. In each of the first, second and third quarters of 2018, the Company paid $1.0 million associated with specified increases in the Federal Funds rate in December 2017, March 2018 and June 2018, respectively, which are included within cash flows from financing activities on the consolidated statement of cash flows. As of September 30, 2018, the estimated fair value of the contingent consideration totaled $4.4 million which is included in current contingent consideration in the accompanying consolidated balance sheet. The estimated fair value of the portion of the contingent consideration payments based on increases in interest rates is determined using a scenario approach based on the interest rate forecasts of Federal Open Market Committee participants. The estimated fair value of the portion of the contingent consideration payments potentially earned based on net revenue is determined using an option pricing model. The estimated value of the contingent consideration is based upon available information and certain assumptions, known at the time of this report, which management believes are reasonable. Any differences in the actual contingent consideration payments will be recorded in operating income in the consolidated statements of operations and comprehensive income. During the third quarter and first nine months of 2018, the Company recorded $0.1 million and $1.4 million, respectively, of contingent consideration expense in the consolidated statement of operations and comprehensive income due to the change in estimated fair value of the contingent consideration.

In October 2018, the Company paid $1.0 million associated with a specified increase in the Federal Funds rate in September 2018.

SnapCap

On September 19, 2017, the Company acquired certain assets of Snap Capital LLC, which does business under the name SnapCap ("SnapCap"). SnapCap, a tech-enabled online platform, connects business owners with lenders offering small business loans, lines of credit and merchant cash advance products through a concierge-based sales approach. The acquisition has been accounted for as a business combination. During 2017, the Company finalized the determination of the purchase price allocation with respect to the assets acquired and liabilities assumed.

The Company paid $11.9 million of initial cash consideration and could make up to three additional contingent consideration payments, each ranging from zero to $3.0 million, based on certain defined operating results during the periods of October 1, 2017 through September 30, 2018, October 1, 2018 through September 30, 2019 and October 1, 2019 through March 31, 2020. These additional payments, to the extent earned, will be payable in cash. The purchase price for the acquisition is $18.2 million, comprised of the upfront cash payment of $11.9 million and $6.3 million for the estimated fair value of the contingent consideration.

As of September 30, 2018, the estimated fair value of the contingent consideration totaled $5.2 million, of which $2.9 million is included in current contingent consideration and $2.3 million is included in non-current contingent consideration in the accompanying consolidated balance sheet. The estimated fair value of the contingent consideration payments is determined using an option pricing model. The estimated value of the contingent consideration is based upon available information and certain assumptions, known at the time of this report, which management believes are reasonable. Any differences in the actual contingent consideration payments will be recorded in operating income in the consolidated statements of operations and comprehensive income. During the third quarter and first nine months of 2018, the Company recorded contingent consideration expense of $1.1 million and a gain of $1.8 million, respectively, in the consolidated statement of operations and comprehensive income due to the change in estimated fair value of the contingent consideration.

Pro forma Financial Results

The unaudited pro forma financial results for the third quarters and first nine months of 2017 and 2018 combine the consolidated results of the Company and DepositAccounts, SnapCap, Ovation, Student Loan Hero and Camino Del Avion (Delaware), LLC (“MagnifyMoney”) giving effect to the acquisitions as if the DepositAccounts, MagnifyMoney and SnapCap acquisitions had been completed on January 1, 2016 and as if the Ovation and Student Loan Hero acquisitions had been completed on January 1, 2017. This unaudited pro forma financial information is presented for informational purposes only and is not indicative of future operations or results had the acquisitions been completed as of January 1, 2016 or 2017, or any other date.

The unaudited pro forma financial results include adjustments for additional amortization expense based on the fair value of the intangible assets with definite lives and their estimated useful lives. The provision for income taxes from continuing operations has also been adjusted to reflect taxes on the historical results of operations of DepositAccounts and SnapCap. DepositAccounts and SnapCap did not pay taxes at the entity level as these entities were limited liability companies whose members elected for them to be taxed as a partnership.



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
	(in thousands)
Pro forma revenue	$	198,216	$	177,670	$	578,608	$	479,775
Pro forma net income from continuing operations	$	28,271	$	9,041	$	110,308	$	22,522

The unaudited pro forma net income from continuing operations in the third quarter and first nine months of 2018 includes the aggregate after tax contingent consideration expense associated with the CompareCards, DepositAccounts, SnapCap and Ovation earnouts of $1.6 million and $0.9 million, respectively. The unaudited pro forma net income from continuing operations in the third quarter and first nine months of 2017 includes the aggregate after tax contingent consideration expense associated with the CompareCards and DepositAccounts earnouts of $1.5 million and $12.4 million, respectively.

The unaudited pro forma net income from continuing operations for the first nine months of 2017 has been adjusted to include acquisition-related costs of $1.0 million incurred by the Company and Student Loan Hero that are directly attributable to the Ovation and Student Loan Hero acquisitions, which will not have an ongoing impact. Accordingly, these acquisition-related costs have been eliminated from the unaudited pro forma net income from continuing operations for the third quarter and first nine months of 2018. Acquisition-related costs incurred by the Company, DepositAccounts, MagnifyMoney and SnapCap that are directly attributable to the DepositAccounts, MagnifyMoney and SnapCap acquisitions, and which will not have an on-going impact, have been eliminated from the unaudited pro forma net income from continuing operations for the third quarter and first nine months of 2017.

The Company’s consolidated results of operations include the results of the business acquisitions completed in 2018 as of the acquisition dates. Revenue of $6.7 million and $7.2 million in the third quarter and first nine months of 2018, respectively, and net loss from continuing operations of $1.2 million and $1.3 million in the third quarter and first nine months of 2018, respectively, have been included in the Company’s consolidated results of operations.

SHAREHOLDERS' EQUITY (Note)

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

SHAREHOLDERS' EQUITY

Basic and diluted income per share was determined based on the following share data (in thousands):



	Three Months Ended September 30,		Nine Months Ended September 30,
	2018	2017	2018	2017
Weighted average basic common shares	12,799	11,999	12,437	11,931
Effect of stock options	758	1,619	1,160	1,598
Effect of dilutive share awards	110	101	167	96
Effect of Convertible Senior Notes and warrants	183	55	535	—
Weighted average diluted common shares	13,850	13,774	14,299	13,625

For the three months ended September 30, 2018, the weighted average shares that were anti-dilutive, and therefore excluded from the calculation of diluted income per share, included options to purchase 0.5 million shares of common stock and 0.1 million restricted stock units. For the nine months ended September 30, 2018, the weighted average shares that were anti-dilutive included options to purchase 0.4 million shares of common stock.

For the three months ended September 30, 2017, the weighted average shares that were anti-dilutive, and therefore excluded from the calculation of diluted income per share, included options to purchase 0.3 million shares of common stock and 0.1 million restricted stock awards. For the nine months ended September 30, 2017, the weighted average shares that were anti-dilutive included options to purchase 0.1 million shares of common stock.

The 0.625% Convertible Senior Notes due June 1, 2022 and the warrants issued by the Company in the second quarter of 2017 could be converted into the Company’s common stock in the future, subject to certain contingencies. See Note 11—Debt for additional information.

Shares of the Company's common stock associated with the warrants were excluded from the calculation of diluted income per share for the three months ended September 30, 2018 and 2017 as they were anti-dilutive since the strike price of the warrants was greater than the average market price of the Company's common stock during the respective periods. Shares of the Company’s common stock associated with the Convertible Senior Notes and the warrants were excluded from the calculation of diluted income per share for the nine months ended September 30, 2017, as they were anti-dilutive since the conversion price of the Convertible Senior Notes and the strike price of the warrants were greater than the average market price of the Company’s common stock during the period.

Common Stock Repurchases

In each of January 2010, May 2014, January 2016, February 2016 and February 2018, the board of directors authorized and the Company announced the repurchase of up to $10.0 million, $10.0 million, $50.0 million, $40.0 million and $100.0 million, respectively, of LendingTree's common stock. Pursuant to this stock repurchase program, the Company purchased 205,310 shares of its common stock for $57.2 million during the nine months ended September 30, 2018, and purchased 42,153 shares of its common stock for $10.0 million during the nine months ended September 30, 2017. At September 30, 2018, approximately $70.6 million of the previous authorizations to repurchase common stock remain available for the Company to purchase its common stock.

STOCK-BASED COMPENSATION (Note)

9 Months Ended

Sep. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

STOCK-BASED COMPENSATION

Non-cash compensation related to equity awards is included in the following line items in the accompanying consolidated statements of operations and comprehensive income (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Cost of revenue	$	123	$	41	$	260	$	129
Selling and marketing expense	1,577		1,366		4,511		2,543
General and administrative expense	8,388		5,864		25,617		8,684
Product development	2,009		667		3,996		1,712
Total non-cash compensation	$	12,097	$	7,938	$	34,384	$	13,068

Stock Options

A summary of changes in outstanding stock options is as follows:



	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value^(a)
			(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2018	1,863,739		$	30.70
Granted ^(b)	58,901		317.31
Exercised	(971,211	)	16.31
Forfeited	(6,425	)	299.89
Expired	—		—
Options outstanding at September 30, 2018	945,004		61.53		5.42	$	163,927
Options exercisable at September 30, 2018	772,651		$	25.03	4.64	$	158,473

(a)

The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company's closing stock price of $230.10 on the last trading day of the quarter ended September 30, 2018 and the exercise price, multiplied by the number of shares covered by in-the-money options) that would have been received by the option holder had the option holder exercised these options on September 30, 2018. The intrinsic value changes based on the market value of the Company's common stock.

(b)

During the nine months ended September 30, 2018, the Company granted stock options to certain employees and members of the board of directors with a weighted average grant date fair value per share of $161.58, calculated using the Black-Scholes option pricing model, which vesting periods include (a) immediate vesting on grant date (b) one year from grant date (c) two years from the grant date, (d) three years from the grant date and (e) four years from the grant date.

For purposes of determining stock-based compensation expense, the weighted average grant date fair value per share of the stock options was estimated using the Black-Scholes option pricing model, which requires the use of various key assumptions. The weighted average assumptions used are as follows:



Expected term ⁽¹⁾	5.00 - 6.34 years
Expected dividend ⁽²⁾	—
Expected volatility ⁽³⁾	50% - 53%
Risk-free interest rate ⁽⁴⁾	2.33% - 2.90%


(1)	The expected term of stock options granted was calculated using the "Simplified Method," which utilizes the midpoint between the weighted average time of vesting and the end of the contractual term. This method was utilized for the stock options due to a lack of historical exercise behavior by the Company's employees.


(2)	For all stock options granted in 2018, no dividends are expected to be paid over the contractual term of the stock options, resulting in a zero expected dividend rate.


(3)	The expected volatility rate is based on the historical volatility of the Company's common stock.


(4)	The risk-free interest rate is specific to the date of grant. The risk-free interest rate is based on U.S. Treasury yields for notes with comparable expected terms as the awards, in effect at the grant date.

Stock Options with Performance Conditions

A summary of the changes in outstanding stock options with performance conditions is as follows:



	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value^(a)
		(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2018	37,877	$	308.90
Granted	—	—
Exercised	—	—
Forfeited	—	—
Expired	—	—
Options outstanding at September 30, 2018	37,877	$	308.90	9.20	$	—
Options exercisable at September 30, 2018	—	$	—	0	$	—

(a)

Restricted Stock Units

A summary of the changes in outstanding nonvested restricted stock units ("RSUs"), exclusive of RSUs granted to the Chairman and Chief Executive Officer in 2018 described below, is as follows:



	RSUs
	Number of Units		Weighted Average Grant Date Fair Value
			(per unit)
Nonvested at January 1, 2018	152,829		$	121.68
Granted	90,343		295.49
Vested	(63,980	)	99.58
Forfeited	(9,288	)	218.95
Nonvested at September 30, 2018	169,904		$	217.10

Restricted Stock Units with Performance Conditions

A summary of the changes in outstanding nonvested RSUs with performance conditions is as follows:



	RSUs with Performance Conditions
	Number of Units		Weighted Average Grant Date Fair Value
			(per unit)
Nonvested at January 1, 2018	111,205		$	160.34
Granted	—		—
Vested	(12,226	)	106.18
Forfeited	(2,652	)	113.22
Nonvested at September 30, 2018	96,327		$	168.52

Chairman and Chief Executive Officer Grants

2017 Grants

On July 25, 2017, the Company’s Compensation Committee approved new compensation arrangements for its Chairman and Chief Executive Officer. The new compensation arrangements include the issuance of performance based equity compensation grants with a modeled total grant date value of $87.5 million of which 25% (119,015 shares) would be in the form of time-vested restricted stock awards with a performance condition and 75% (a maximum of 769,376 shares) would be in the form of performance-based nonqualified stock options.

The performance-based nonqualified stock options have a target number of shares that vest upon achieving targeted total shareholder return performance of 110% stock price appreciation and a maximum number of shares for achieving superior performance up to 167% of the target number of shares. No shares will vest unless 70% of the targeted performance is achieved. Time-based service vesting conditions would also have to be satisfied in order for performance-vested shares to become fully vested and no longer subject to forfeiture. On July 26, 2017, an initial grant of performance-based nonqualified stock options with a target number of shares of 402,694 and a maximum number of shares of 672,499 were issued with an exercise price of $183.80, the closing stock price on July 26, 2017. The performance measurement period ends on September 30, 2022. The fair value of the performance-based stock options will be recognized on a straight-line basis through the vest date of September 30, 2022, whether or not any of the total shareholder return targets are met.

The Company's Fifth Amended and Restated 2008 Stock and Annual Incentive Plan (the "2008 Plan") imposes a per employee upper annual grant limit of 672,500 shares. As a result, the remaining 58,010 target performance-based nonqualified stock options and potential performance-based restricted stock awards were awarded on January 2, 2018. The form of the awards consisted of 31,336 performance-based nonqualified stock options with a per share exercise price of $340.25, and 26,674 performance-based restricted stock awards, substituting for an equal number of the performance-based options, to compensate for the increase in the exercise price of the performance-based option granted on July 26, 2017. These performance-based nonqualified stock options and performance-based restricted stock awards were issued with respective total grant date fair values of $9.5 million and $1.9 million.

As of September 30, 2018, performance-based nonqualified stock options of 312,008 and performance-based restricted stock awards of 19,175 had been earned, which have a vest date of September 30, 2022.

On January 2, 2018, the 119,015 time-vested restricted stock awards with a performance condition were granted. The terms of these awards were fixed in the approved new compensation agreements in July 2017 with a total grant date fair value of $21.9 million. The performance condition was tied to the Company's operating results during the first six months of 2018, and has been met. During the nine months ended September 30, 2018, 41,653 of these awards vested.

2018 Grants

On February 16, 2018, the Company’s Compensation Committee approved the issuance of performance based equity compensation grants to its Chairman and Chief Executive Officer with a modeled total grant date value of $7.5 million, of which 50% (9,896 shares) would be in the form of time-vested restricted stock units and 50% (a maximum of 21,982 shares) would be in the form of performance-based nonqualified stock options. On February 16, 2018, the 9,896 time-vested restricted stock units were granted with a grant date fair value of $378.95.

The performance-based nonqualified stock options have a target number of shares that vest upon achieving targeted total shareholder return performance of 81% stock price appreciation and a maximum number of shares for achieving superior performance up to 167% of the target number of shares. No shares will vest unless 41% of the targeted performance is achieved. Time-based service vesting conditions would also have to be satisfied in order for performance-vested shares to become fully vested and no longer subject to forfeiture. On February 16, 2018, the performance-based nonqualified stock options with a target number of shares of 13,163 and a maximum number of shares of 21,982 were issued with an exercise price of $378.95, the closing stock price on February 16, 2018. The performance measurement period ends on March 31, 2022. The fair value of the performance-based stock options will be recognized on a straight-line basis through the vest date of March 31, 2022, whether or not any of the total shareholder return targets are met. As of September 30, 2018, the performance targets associated with the performance-based nonqualified stock options had not been met.

In the three and nine months ended September 30, 2018, the Company recorded $4.9 million and $15.6 million, respectively, in stock-based compensation expense related to the 2017 and 2018 grants to its Chairman and Chief Executive Officer in the consolidated statement of operations and comprehensive income.

A summary of changes in outstanding stock options with market conditions is as follows:



	Number of Options with Market Conditions	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value^(a)
		(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2018	402,694	$	183.80
Granted^(b)	44,499	351.70
Exercised	—	—
Forfeited	—	—
Expired	—	—
Options outstanding at September 30, 2018	447,193	200.51		8.87	$	18,645
Options exercisable at September 30, 2018	—	$	—	0	$	—

(a)


(b)	During the nine months ended September 30, 2018, the Company granted stock options with a weighted average grant date fair value per share of $296.80, calculated using the Monte Carlo simulation model, which have vesting dates of March 31, 2022 and September 30, 2022.

For purposes of determining stock-based compensation expense, the weighted average grant date fair value per share of the stock options was estimated using the Monte Carlo simulation model, which requires the use of various key assumptions. The weighted average assumptions used are as follows:



Expected term ⁽¹⁾	7.00 - 7.15 years
Expected dividend ⁽²⁾	—
Expected volatility ⁽³⁾	50%
Risk-free interest rate ⁽⁴⁾	2.38% - 2.81%


(1)	The expected term of stock options with a market condition granted was calculated using the midpoint between the weighted average time of vesting and the end of the contractual term.


(2)	For all stock options with a market condition granted in 2018, no dividends are expected to be paid over the contractual term of the stock options, resulting in a zero expected dividend rate.


(3)	The expected volatility rate is based on the historical volatility of the Company's common stock.


(4)	The risk-free interest rate is specific to the date of grant. The risk-free interest rate is based on U.S. Treasury yields for notes with comparable expected terms as the awards, in effect at the grant date.

INCOME TAXES (Note)

9 Months Ended

Sep. 30, 2018

Income Tax Disclosure [Abstract]

INCOME TAXES



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
	(in thousands, except percentages)
Income tax benefit (expense)	$	10,534		$	(4,292	)	$	63,716		$	(3,109	)
Effective tax rate	-59.1		%	29.8		%	-140.5		%	10.7		%

For the three and nine months ended September 30, 2018, the effective tax rate varied from the federal statutory rate of 21% primarily due to a tax benefit of $14.3 million and $75.2 million, respectively, recognized for excess tax benefits due to employee exercises of stock options and vesting of restricted stock in accordance with ASU 2016-09 and the effect of state taxes.

For the three and nine months ended September 30, 2017, the effective tax rate varied from the federal statutory rate of 35% primarily due to a tax benefit of $0.8 million and $8.4 million, respectively, recognized for excess tax benefits due to employee exercises of stock options and vesting of restricted stock in accordance with ASU 2016-09.



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
	(in thousands)
Income tax expense - excluding excess tax benefit on stock compensation	$	(3,787	)	$	(5,103	)	$	(11,475	)	$	(11,523	)
Excess tax benefit on stock compensation	14,321			811			75,191			8,414
Income tax benefit (expense)	$	10,534		$	(4,292	)	$	63,716		$	(3,109	)

DEBT (Note)

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

DEBT

Convertible Senior Notes

On May 31, 2017, the Company issued $300.0 million aggregate principal amount of its 0.625% Convertible Senior Notes due June 1, 2022 (the “Notes”) in a private placement. The Notes bear interest at a rate of 0.625% per year, payable semi-annually on June 1 and December 1 of each year, beginning on December 1, 2017. The Notes will mature on June 1, 2022, unless earlier repurchased or converted.

The initial conversion rate of the Notes is 4.8163 shares of Common Stock per $1,000 principal amount of Notes (which is equivalent to an initial conversion price of approximately $207.63 per share). The conversion rate will be subject to adjustment upon the occurrence of certain specified events but will not be adjusted for accrued and unpaid interest. In addition, upon the occurrence of a fundamental change prior to the maturity of the Notes, the Company will, in certain circumstances, increase the conversion rate by a specified number of additional shares for a holder that elects to convert the Notes in connection with such fundamental change. Upon conversion, the Notes will settle for cash, shares of the Company’s stock, or a combination thereof, at the Company’s option. It is the intent of the Company to settle the principal amount of the Notes in cash and any conversion premium in shares of its common stock.

The Notes are the Company’s senior unsecured obligations and will rank senior in right of payment to any of the Company’s indebtedness that is expressly subordinated in right of payment to the Notes; equal in right of payment to any of the Company’s unsecured indebtedness that is not so subordinated; effectively junior in right of payment to any of the Company’s secured indebtedness, including borrowings under the senior secured Revolving Credit Facility, described below, to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities (including trade payables) of the Company’s subsidiaries.

Prior to the close of business on the business day immediately preceding February 1, 2022, the Notes will be convertible at the option of the holders thereof only under the following circumstances:

•

during any calendar quarter commencing after the calendar quarter ending on September 30, 2017 (and only during such calendar quarter), if the last reported sale price of the common stock for at least 20 trading days (whether or not consecutive) during the 30 consecutive trading day period ending on, and including the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day;


•	during the five business day period after any five consecutive trading day period in which, for each trading day of that period, the trading price (as defined in the Notes) per $1,000 principal amount of Notes for such trading day was less than 98% of the product of the last reported sale price of the Common Stock and the conversion rate on each such trading day; or


•	upon the occurrence of specified corporate events including but not limited to a fundamental change.

Holders of the Notes became entitled to convert the Notes on January 1, 2018, based on the last reported sales price of the Company's common stock, for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on December 31, 2017, being greater than or equal to 130% of the conversion price of the Notes on each applicable trading day. Holders of the Notes continued to have such right until June 30, 2018, based on the last reported sales price of the Company's common stock, for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on March 31, 2018, being greater than or equal to 130% of the conversion price of the Notes on each applicable trading day. Holders of the Notes have not been entitled to convert the Notes since July 1, 2018. Holders of the Notes are not entitled to convert the Notes during the calendar quarter ended December 31, 2018 as the last reported sales price of the Company's common stock, for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on September 30, 2018, was not greater than or equal to 130% of the conversion price of the Notes on each applicable trading day.

On or after February 1, 2022, until the close of business on the second scheduled trading day immediately preceding the maturity date of the Notes, holders of the Notes may convert all or a portion of their Notes regardless of the foregoing conditions.

The Company may not redeem the Notes prior to the maturity date and no sinking fund is provided for the Notes. Upon the occurrence of a fundamental change prior to the maturity date of the Notes, holders of the Notes may require the Company to repurchase all or a portion of the Notes for cash at a price equal to 100% of the principal amount of the Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the fundamental change repurchase date.

If the market price per share of the Common Stock, as measured under the terms of the Notes, exceeds the conversion price of the Notes, the Notes could have a dilutive effect, unless the Company elects, subject to certain conditions, to settle the principal amount of the Notes and any conversion premium in cash.

The initial measurement of convertible debt instruments that may be settled in cash are separated into a debt and equity component whereby the debt component is based on the fair value of a similar instrument that does not contain an equity conversion option. The separate components of debt and equity of the Company’s Notes were determined using an interest rate of 5.36%, which reflects the nonconvertible debt borrowing rate of the Company at the date of issuance. As a result, the initial components of debt and equity were $238.4 million and $61.6 million, respectively.

Financing costs related to the issuance of the Notes were approximately $9.3 million of which $7.4 million were allocated to the liability component and are being amortized to interest expense over the term of the debt and $1.9 million were allocated to the equity component.

In the first nine months of 2018, the Company recorded interest expense on the Notes of $10.9 million which consisted of $1.4 million associated with the 0.625% coupon rate, $8.5 million associated with the accretion of the debt discount, and $1.0 million associated with the amortization of the debt issuance costs. In the first nine months of 2017, the Company recorded interest expense on the Notes of $4.7 million which consisted of $0.6 million associated with the 0.625% coupon rate, $3.6 million associated with the accretion of the debt discount, and $0.4 million associated with the amortization of the debt issuance costs. The debt discount is being amortized over the term of the debt.

As of September 30, 2018, the fair value of the Notes is estimated to be approximately $382.1 million using the Level 1 observable input of the last quoted market price on September 28, 2018.

A summary of the gross carrying amount, unamortized debt cost, debt issuance costs and net carrying value of the liability component of the Notes are as follows (in thousands):



	September 30, 2018		December 31, 2017
Gross carrying amount	$	300,000	$	300,000
Unamortized debt discount	46,705		55,202
Debt issuance costs	5,599		6,599
Net carrying amount	$	247,696	$	238,199

Convertible Note Hedge and Warrant Transactions

On May 31, 2017, in connection with the issuance of the Notes, the Company entered into Convertible Note Hedge (the “Hedge”) and Warrant transactions with respect to the Company’s common stock. The Company used approximately $18.1 million of the net proceeds from the Notes to pay for the cost of the Hedge, after such cost was partially offset by the proceeds from the Warrant transactions.

On May 31, 2017, the Company paid $61.5 million to the counterparties for the Hedge transactions. The Hedge transactions cover approximately 1.4 million shares of the Company’s common stock, the same number of shares initially underlying the Notes, and are exercisable upon any conversion of the Notes. The Hedge Transactions are expected generally to reduce the potential dilution to the Common Stock upon conversion of the Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of the converted Notes, as the case may be, in the event that the market price per share of Common Stock, as measured under the terms of the Hedge transactions, is greater than the strike price of the Hedge transactions, which initially corresponds to the initial conversion price of the Notes, or approximately $207.63 per share of Common Stock. The Hedge transactions will expire upon the maturity of the Notes.

On May 31, 2017, the Company sold to the counterparties, warrants (the "Warrants") to acquire 1.4 million shares of Common Stock at an initial strike price of $266.39 per share, which represents a premium of 70% over the reported sale price of the Common Stock of $156.70 on May 24, 2017. On May 31, 2017, the Company received aggregate proceeds of approximately $43.4 million from the sale of the Warrants.

If the market price per share of the Common Stock, as measured under the terms of the Warrants, exceeds the strike price of the Warrants, the Warrants could have a dilutive effect, unless the Company elects, subject to certain conditions, to settle the Warrants in cash.

The Hedge and Warrant transactions are indexed to, and potentially settled in, the Company's common stock and the net cost of $18.1 million has been recorded as a reduction to additional paid-in capital in the consolidated statement of shareholders’ equity.

Senior Secured Revolving Credit Facility

On November 21, 2017, the Company's wholly-owned subsidiary, LendingTree, LLC, entered into an amended and restated $250.0 million five-year senior secured revolving credit facility which matures on November 21, 2022 (the “Revolving Credit Facility”). The Revolving Credit Facility replaced the Company's previous $125.0 million revolving credit facility. Borrowings under the Revolving Credit Facility can be used to finance working capital needs, capital expenditures and general corporate purposes, including to finance permitted acquisitions. As of September 30, 2018, the Company does not have any borrowings outstanding under the Revolving Credit Facility. See Note 16—Subsequent Events for additional information regarding the Senior Secured Revolving Credit Facility.

Up to $10.0 million of the Revolving Credit Facility will be available for short-term loans, referred to as swingline loans. Additionally, up to $10.0 million of the Revolving Credit Facility will be available for the issuance of letters of credit. Under certain conditions, the Company will be permitted to add one or more term loans and/or increase revolving commitments under the Revolving Credit Facility by an additional $100.0 million, or a greater amount provided that a total consolidated senior secured debt to EBITDA ratio does not exceed 2.50 to 1.00.

The Company’s borrowings under the Revolving Credit Facility bear interest at annual rates that, at the Company’s option, will be either:


•	a base rate generally defined as the sum of (i) the greater of (a) the prime rate of SunTrust Bank, (b) the federal funds effective rate plus 0.5% and (c) the LIBO rate (defined below) on a daily basis applicable for an interest period of one month plus 1.0% and (ii) an applicable percentage of 0.25% to 1.0% based on a total consolidated debt to EBITDA ratio; or


•	a LIBO rate generally defined as the sum of (i) the rate for Eurodollar deposits in the applicable currency and (ii) an applicable percentage of 1.25% to 2.0% based on a total consolidated debt to EBITDA ratio.

All swingline loans bear interest at the base rate defined above. Interest on the Company’s borrowings are payable quarterly in arrears for base rate loans and on the last day of each interest rate period (but not less often than three months) for LIBO rate loans.

The Revolving Credit Facility contains a restrictive financial covenant, which initially limits the total consolidated debt to EBITDA ratio to 4.5, with step downs to 4.0 over time, except that this may increase by 0.5 for the four fiscal quarters following a material acquisition. In addition, the Revolving Credit Facility contains customary affirmative and negative covenants in addition to events of default for a transaction of this type that, among other things, restrict additional indebtedness, liens, mergers or certain fundamental changes, asset dispositions, dividends, stock repurchases and other restricted payments, transactions with affiliates, sale-leaseback transactions, hedging transactions, loans and investments and other matters customarily restricted in such agreements. The Company was in compliance with all covenants at September 30, 2018.

The Revolving Credit Facility requires LendingTree, LLC to pledge as collateral, subject to certain customary exclusions, substantially all of its assets, including 100% of its equity in all of its domestic subsidiaries and 66% of the voting equity, and 100% of the non-voting equity, in all of its material foreign subsidiaries (of which there are currently none). The obligations under this facility are unconditionally guaranteed on a senior basis by LendingTree, Inc. and material domestic subsidiaries of LendingTree, LLC, which guaranties are secured by a pledge as collateral, subject to certain customary exclusions, of 100% of each such guarantor's assets, including 100% of each such guarantor’s equity in all of its domestic subsidiaries and 66% of the voting equity, and 100% of the non-voting equity, in all of its material foreign subsidiaries (of which there are currently none).

The Company is required to pay an unused commitment fee quarterly in arrears on the difference between committed amounts and amounts actually borrowed under the Revolving Credit Facility equal to an applicable percentage of 0.25% to 0.45% per annum based on a total consolidated debt to EBITDA ratio. The Company is required to pay a letter of credit participation fee and a letter of credit fronting fee quarterly in arrears. The letter of credit participation fee is based upon the aggregate face amount of outstanding letters of credit at an applicable percentage of 1.25% to 2.0% based on a total consolidated debt to EBITDA ratio. The letter of credit fronting fee is 0.125% per annum on the face amount of each letter of credit.

In addition to the remaining unamortized debt issuance costs associated with the original revolving credit facility, debt issuance costs of $1.4 million related to the Revolving Credit Facility are being amortized to interest expense over the life of the Revolving Credit Facility of five years, and are included in prepaid and other current assets and other non-current assets in the Company's consolidated balance sheet.

CONTINGENCIES (Note)	9 Months Ended
CONTINGENCIES (Note)	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES Overview LendingTree is involved in legal proceedings on an ongoing basis. In assessing the materiality of a legal proceeding, the Company evaluates, among other factors, the amount of monetary damages claimed, as well as the potential impact of non-monetary remedies sought by plaintiffs (e.g., injunctive relief) that may require it to change its business practices in a manner that could have a material and adverse impact on the business. With respect to the matters disclosed in this Note 12, unless otherwise indicated, the Company is unable to estimate the possible loss or range of losses that could potentially result from the application of such non-monetary remedies. As of September 30, 2018, the Company had litigation settlement accruals of $0.1 million and $8.0 million in continuing operations and discontinued operations, respectively. As of December 31, 2017, the Company had litigation settlement accruals of $0.3 million and $4.0 million in continuing operations and discontinued operations, respectively. The litigation settlement accruals relate to litigation matters that were either settled or a firm offer for settlement was extended, thereby establishing an accrual amount that is both probable and reasonably estimable. Specific Matters Litigation Related to Discontinued Operations Residential Funding Company Residential Funding Company, LLC v Home Loan Center, Inc., No. 13-cv-3451 (U.S. Dist. Ct., Minn.). On or about December 16, 2013, Home Loan Center, Inc. was served in the above captioned matter. Generally, Residential Funding Company, LLC ("RFC") seeks damages for breach of contract and indemnification for certain residential mortgage loans as well as residential mortgage-backed securitizations ("RMBS") containing mortgage loans. RFC asserts that, beginning in 2008, RFC faced massive repurchase demands and lawsuits from purchasers or insurers of the loans and RMBS that RFC had sold. RFC filed for bankruptcy protection in May 2012. Plaintiff alleges that, after RFC filed for Chapter 11 protection, hundreds of proofs of claim were filed, many of which mirrored the litigation filed against RFC prior to its bankruptcy. In December 2013, the United States Bankruptcy Court for the Southern District of New York entered an Order confirming the Second Amended Joint Chapter 11 Plan Proposed by Residential Capital, LLC et al. and the Official Committee of Unsecured Creditors. Plaintiff then began filing substantially similar complaints against approximately 80 of the loan originators from whom RFC had purchased loans, including Home Loan Center, in federal and state courts in Minnesota and New York. In each case, Plaintiff claims that the defendant is liable for a portion of the global settlement in RFC’s bankruptcy. Plaintiff asserts two claims against HLC: (1) breach of contract based on HLC’s alleged breach of representations and warranties concerning the quality and characteristics of the mortgage loans it sold to RFC (Count One); and (2) contractual indemnification for alleged liabilities, losses, and damages incurred by RFC arising out of purported defects in loans that RFC purchased from HSBC and sold to third parties (Count Two). Plaintiff alleges that the “types of defects” contained in the loans it purchased from HLC included “income misrepresentation, employment misrepresentation, appraisal misrepresentations or inaccuracies, undisclosed debt, and missing or inaccurate documents.” HLC filed a Motion to Dismiss under Rule 12(b)(6) of the Federal Rules of Civil Procedure or, in the alternative, a Motion for More Definite Statement under Rule 12(e). On June 25, 2015 the judge denied HLC's motion. On July 9, 2015, HLC filed its answer to RFC’s complaint, denying the material allegations of the complaint and asserting numerous defenses thereto. The parties filed their respective motions for summary judgment in April 2018; oral arguments with respect to the motions for summary judgment were heard in June 2018. Trial began on October 15, 2018. Plaintiff is seeking damages of $44.0 million in this action and plaintiff attorney fees; HLC intends to vigorously defend this action. An estimated liability of $7.0 million for this matter is included in the accompanying consolidated balance sheet as of September 30, 2018. Lehman Brothers Holdings, Inc. Lehman Brothers Holdings Inc. v. 1st Advantage Mortgage, LLC et al., Case No. 08-13555 (SCC), Adversary Proceeding No. 16-01342 (SCC) (Bankr. S.D.N.Y.). In February 2016, Lehman Brothers Holdings, Inc. (“LBHI”) filed an Adversary Complaint against Home Loan Center and approximately 149 other defendants (the "Complaint"). The Complaint generally seeks (1) a declaratory judgment that the settlements entered into by LBHI with Fannie Mae and Freddie Mac as part of LBHI's bankruptcy proceedings gave rise to LBHI's contractual indemnification claims against defendants alleged in the Complaint; (2) indemnification from HLC and the other defendants for losses allegedly incurred by LBHI in respect of defective mortgage loans sold by defendants to LBHI or its affiliates; and (3) interest, attorneys' fees and costs incurred by LBHI in the litigation. On March 31, 2017, HLC filed an omnibus motion to dismiss with other defendants. HLC intends to defend this action vigorously. HLC had previously received a demand letter (the "Letter") from LBHI in December 2014 with respect to 64 loans (the “Loans”) that LBHI alleges were sold by HLC to Lehman Brothers Bank, FSB (“LBB”) between 2004 and 2008 pursuant to a loan purchase agreement (the “LPA”) between HLC and LBB. The Letter generally sought indemnification from HLC in accordance with the LPA for certain claims that LBHI alleged it allowed in its bankruptcy with respect to the Loans. An estimated liability of $1.0 million for this matter is included in the accompanying consolidated balance sheet as of September 30, 2018.

FAIR VALUE MEASUREMENTS (Note)

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

Other than the 0.625% Convertible Senior Notes and the Warrants, the carrying amounts of the Company's financial instruments are equal to fair value at September 30, 2018. See Note 11—Debt for additional information on the 0.625% Convertible Senior Notes and the Warrants.

Contingent consideration payments related to acquisitions are measured at fair value each reporting period using Level 3 unobservable inputs. The changes in the fair value of the Company's Level 3 liabilities during the three and nine months ended September 30, 2018 and 2017 are as follows (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Contingent consideration, beginning of period	$	15,241		$	46,227		$	57,349		$	23,100
Transfers into Level 3	—			—			—			—
Transfers out of Level 3	—			—			—			—
Total net (gains) losses included in earnings (realized and unrealized)	2,105			2,501			1,197			20,640
Purchases, sales and settlements:
Additions	—			6,330			5,800			11,318
Payments	(1,000		)	(1,000		)	(48,000		)	(1,000		)
Contingent consideration, end of period	$	16,346		$	54,058		$	16,346		$	54,058

The contingent consideration liability at September 30, 2018 is the estimated fair value of the earnout payments of the DepositAccounts, SnapCap and Ovation acquisitions. The Company will make payments ranging from $1.0 million to $5.0 million based on the achievement of defined milestone and performance targets for DepositAccounts, payments ranging from zero to $9.0 million based on the achievement of certain defined earnings targets for SnapCap, and payments ranging from zero to $8.75 million based on the achievement of certain defined operating metrics for Ovation. See Note 6—Business Acquisition for additional information on the contingent consideration for each of these respective acquisitions.

The significant unobservable inputs used to calculate the fair value of the contingent consideration are estimated future cash flows for the acquisitions, estimated customer growth rates, estimated date and likelihood of an increase in interest rates and the discount rate. Actual results will differ from the projected results and could have a significant impact on the estimated fair value of the contingent considerations. Additionally, as the liability is stated at present value, the passage of time alone will increase the estimated fair value of the liability each reporting period. Any changes in fair value will be recorded in operating income in the consolidated statements of operations and comprehensive income.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

SEGMENT INFORMATION (Note)

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

SEGMENT INFORMATION

The Company has one reportable segment.

Mortgage and non-mortgage product revenue is as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Mortgage products	$	55,287	$	73,756	$	195,697	$	208,209
Non-mortgage products	141,770		97,738		366,496		248,573
Total revenue	$	197,057	$	171,494	$	562,193	$	456,782

DISCONTINUED OPERATIONS (Note)

9 Months Ended

Sep. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

The revenue and net loss reported as discontinued operations in the accompanying consolidated statements of operations and comprehensive income are as follows (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Revenue	$	—		$	—		$	—		$	(750	)

Loss before income taxes	$	(3,334	)	$	(1,555	)	$	(11,733	)	$	(4,049	)
Income tax benefit	700			544			2,464			1,417
Net loss	$	(2,634	)	$	(1,011	)	$	(9,269	)	$	(2,632	)

During the three and nine months ended September 30, 2018 and 2017, loss from discontinued operations was primarily due to litigation settlements and contingencies and legal fees associated with ongoing legal proceedings.

LendingTree Loans

On June 6, 2012, the Company sold substantially all of the operating assets of its LendingTree Loans business for $55.9 million in cash to a wholly-owned subsidiary of Discover Financial Services ("Discover"). Discover generally did not assume liabilities of the LendingTree Loans business that arose before the closing date, except for certain liabilities directly related to assets Discover acquired. Of the purchase price received, a portion was deposited in escrow in accordance with the agreement with Discover for certain loan loss obligations that remain with the Company following the sale. During the second quarter of 2018, the remaining funds in escrow were released to the Company in accordance with the terms of the agreement with Discover.

Significant Assets and Liabilities of LendingTree Loans

Upon closing of the sale of substantially all of the operating assets of the LendingTree Loans business on June 6, 2012, LendingTree Loans ceased to originate consumer loans. Liability for losses on previously sold loans will remain with LendingTree Loans and are discussed below.

Loan Loss Obligations

LendingTree Loans sold loans it originated to investors on a servicing-released basis, so the risk of loss or default by the borrower was generally transferred to the investor. However, LendingTree Loans was required by these investors to make certain representations and warranties relating to credit information, loan documentation and collateral. These representations and warranties may extend through the contractual life of the loan. Subsequent to the loan sale, if underwriting deficiencies, borrower fraud or documentation defects are discovered in individual loans, LendingTree Loans may be obligated to repurchase the respective loan or indemnify the investors for any losses from borrower defaults if such deficiency or defect cannot be cured within the specified period following discovery.

HLC, a subsidiary of the Company, continues to be liable for these indemnification obligations, repurchase obligations and premium repayment obligations following the sale of substantially all of the operating assets of its LendingTree Loans business in the second quarter of 2012.

The following table represents the aggregate loans sold, subsequent settlements and remaining unsettled loans.



	Number of Loans		Original Issue Balance
	(in thousands)		(in billions)
Loans sold by HLC	234		$	38.9
Subsequent settlements	(172	)	(28.8		)
Remaining unsettled balance as of September 30, 2018	62		$	10.1

During the fourth quarter of 2015, LendingTree Loans completed a settlement agreement for $0.6 million with one of the investors to which it had sold loans. This investor accounted for approximately 10% of the total number of loans sold and 12% of the original issue balance. This settlement related to all existing and future losses on loans sold to this investor.

During the fourth quarter of 2014, LendingTree Loans completed a settlement agreement for $5.4 million with the largest investor to which it had sold loans. This investor accounted for approximately 40% of both the total number of loans sold and the original issue balance. This settlement related to all existing and future losses on loans sold to this investor.

In the second quarter of 2014, LendingTree Loans completed settlements with two buyers of previously purchased loans.

The Company has been negotiating with certain of the remaining secondary market purchasers to settle any existing and future contingent liabilities, but it may not be able to complete such negotiations on acceptable terms, or at all. Because LendingTree Loans does not service the loans it sold, it does not maintain nor generally have access to the current balances and loan performance data with respect to the individual loans previously sold to investors. Accordingly, LendingTree Loans is unable to determine, with precision, its maximum exposure for breaches of the representations and warranties it made to the investors that purchased such loans.

The Company uses a settlement discount framework for evaluating the adequacy of the reserve for loan losses. This model estimates lifetime losses on the population of remaining loans originated and sold by LendingTree Loans using actual defaults for loans with similar characteristics and projected future defaults. It also considers the likelihood of claims expected due to alleged breaches of representations and warranties made by LendingTree Loans and the percentage of those claims investors estimate LendingTree Loans may agree to repurchase. A settlement discount factor is then applied to the result of the foregoing to reflect publicly-announced bulk settlements for similar loan types and vintages, the Company's own settlement experience, as well as LendingTree Loans' non-operating status, in order to estimate a range of potential obligation.

The estimated range of remaining loan losses using this settlement discount framework was determined to be $4.3 million to $7.8 million at September 30, 2018. The reserve balance recorded as of September 30, 2018 was $7.6 million. Management has considered both objective and subjective factors in the estimation process, but given current general industry trends in mortgage loans as well as housing prices and market expectations, actual losses related to LendingTree Loans' obligations could vary significantly from the obligation recorded as of the balance sheet date or the range estimated above.

Additionally, LendingTree has guaranteed certain loans sold to two investors in the event that LendingTree Loans is unable to satisfy its repurchase and warranty obligations related to such loans.

Based on historical experience, it is anticipated that LendingTree Loans will continue to receive repurchase requests and incur losses on loans sold in prior years.

The activity related to loss reserves on previously sold loans is as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Loan loss reserve, beginning of period	$	7,554	$	7,554	$	7,554	$	6,804
Provisions	—		—		—		750
Charge-offs to reserves	—		—		—		—
Loan loss reserve, end of period	$	7,554	$	7,554	$	7,554	$	7,554

The liability for losses on previously sold loans is presented as current liabilities of discontinued operations in the accompanying consolidated balance sheets as of September 30, 2018 and December 31, 2017.

SUBSEQUENT EVENT (Note)	9 Months Ended
SUBSEQUENT EVENT (Note)	Sep. 30, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENTS On October 26, 2018, the Company amended its Revolving Credit Facility maturing on November 21, 2022 to increase its borrowing capacity by $100.0 million to $350.0 million. Pricing and other terms and conditions of the Revolving Credit Facility remain unchanged. On October 31, 2018, the Company acquired QuoteWizard.com, LLC ("QuoteWizard"), one of the largest insurance comparison marketplaces in the growing online insurance advertising market, for $300.0 million in cash at closing and potential contingent consideration payments of up to $70.2 million, subject to achieving specific targets. QuoteWizard services clients by driving consumers to insurance companies’ websites, providing leads to agents and carriers, as well as phone transfers of consumers into carrier call centers. The acquisition was funded through $175.0 million of cash on hand and by $125.0 million drawn on the Company's amended and restated revolving credit facility.

SIGNIFICANT ACCOUNTING POLICIES (Policies)

9 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Accounting Estimates

Certain Risks and Concentrations

Due to the nature of the mortgage lending industry, interest rate fluctuations may negatively impact future revenue from the Company's lender marketplace.

The Company maintains operations solely in the United States.

Litigation Settlements and Contingencies

Recent Accounting Pronouncements

The cumulative effect of the changes made to the consolidated January 1, 2018 balance sheet for the adoption of ASC Topic 606 were as follows (in thousands):



	December 31, 2017			Adjustments due to ASC Topic 606			January 1, 2018
Assets:
Prepaid and other current assets	$	11,881		$	1,903		$	13,784
Deferred income tax assets	20,156			(530		)	19,626

Shareholders' equity:
Accumulated deficit	$	(708,354	)	$	1,373		$	(706,981	)

The impact of adoption on the consolidated income statement and balance sheet for the periods ended September 30, 2018 was as follows (in thousands):



	Three Months Ended September 30, 2018							Nine Months Ended September 30, 2018
	As Reported		Balances without adoption of ASC Topic 606		Effect of Change			As Reported		Balances without adoption of ASC Topic 606		Effect of Change
Revenue	$	197,057	$	196,316	$	741		$	562,193	$	560,560	$	1,633

Costs and expenses:
Income tax benefit	10,534		10,733		(199		)	63,716		64,146		(430		)

Net income from continuing operations	$	28,362	$	27,820	$	542		$	109,068	$	107,865	$	1,203



	September 30, 2018
	As Reported			Balances without adoption of ASC Topic 606			Effect of Change
Assets:
Prepaid and other current assets	$	16,411		$	12,103		$	4,308
Deferred income tax assets	75,484			76,014			(530		)

Shareholders' equity:
Accumulated deficit	$	(607,182	)	$	(610,960	)	$	3,778

SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Schedule of Effect of New Accounting Pronouncements

The cumulative effect of the changes made to the consolidated January 1, 2018 balance sheet for the adoption of ASC Topic 606 were as follows (in thousands):



	December 31, 2017			Adjustments due to ASC Topic 606			January 1, 2018
Assets:
Prepaid and other current assets	$	11,881		$	1,903		$	13,784
Deferred income tax assets	20,156			(530		)	19,626

Shareholders' equity:
Accumulated deficit	$	(708,354	)	$	1,373		$	(706,981	)

The impact of adoption on the consolidated income statement and balance sheet for the periods ended September 30, 2018 was as follows (in thousands):



	Three Months Ended September 30, 2018							Nine Months Ended September 30, 2018
	As Reported		Balances without adoption of ASC Topic 606		Effect of Change			As Reported		Balances without adoption of ASC Topic 606		Effect of Change
Revenue	$	197,057	$	196,316	$	741		$	562,193	$	560,560	$	1,633

Costs and expenses:
Income tax benefit	10,534		10,733		(199		)	63,716		64,146		(430		)

Net income from continuing operations	$	28,362	$	27,820	$	542		$	109,068	$	107,865	$	1,203



	September 30, 2018
	As Reported			Balances without adoption of ASC Topic 606			Effect of Change
Assets:
Prepaid and other current assets	$	16,411		$	12,103		$	4,308
Deferred income tax assets	75,484			76,014			(530		)

Shareholders' equity:
Accumulated deficit	$	(607,182	)	$	(610,960	)	$	3,778

REVENUE Schedule of Revenue (Tables)

9 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

Revenue is as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Revenue:
Mortgage products	$	55,287	$	73,756	$	195,697	$	208,209
Non-mortgage products
Credit cards	42,698		39,369		127,577		110,134
Personal loans	38,569		25,449		100,744		62,984
Other	60,503		32,920		138,175		75,455
Total non-mortgage products	141,770		97,738		366,496		248,573
Total revenue	$	197,057	$	171,494	$	562,193	$	456,782

CASH AND RESTRICTED CASH (Tables)

9 Months Ended

Sep. 30, 2018

Cash and Cash Equivalents [Abstract]

Schedule of Restricted Cash and Cash Equivalents

Total cash, cash equivalents, restricted cash and restricted cash equivalents consist of the following (in thousands):



	September 30, 2018		December 31, 2017
Cash and cash equivalents	$	265,194	$	368,550
Restricted cash and cash equivalents	47		4,091
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$	265,241	$	372,641

Restricted cash and cash equivalents consists of the following (in thousands):



	September 30, 2018		December 31, 2017
Cash in escrow from sale of LendingTree Loans ^(a)	$	—	$	4,034
Other	47		57
Total restricted cash and cash equivalents	$	47	$	4,091

(a)

GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill rollforward

The balance of goodwill, net is as follows (in thousands):



	Goodwill		Accumulated Impairment Loss			Net Goodwill
Balance at December 31, 2017	$	596,456	$	(483,088	)	$	113,368
Acquisition of Ovation	11,280		—			11,280
Acquisition of Student Loan Hero	41,682		—			41,682
Balance at September 30, 2018	$	649,418	$	(483,088	)	$	166,330

Schedule of balance of intangible assets, net

The balance of intangible assets, net is as follows (in thousands):



	September 30, 2018		December 31, 2017
Intangible assets with indefinite lives	$	10,142	$	10,142
Intangible assets with definite lives, net	85,828		70,983
Total intangible assets, net	$	95,970	$	81,125

Schedule of intangible assets with definite lives

Intangible assets with definite lives relate to the following (in thousands):



	Cost		Accumulated Amortization			Net
Technology	$	43,500	$	(15,680	)	$	27,820
Customer lists	37,500		(5,969		)	31,531
Trademarks and tradenames	8,942		(3,040		)	5,902
Tenant leases	1,081		(550		)	531
Website content	24,200		(4,161		)	20,039
Other	255		(250		)	5
Balance at September 30, 2018	$	115,478	$	(29,650	)	$	85,828



	Cost		Accumulated Amortization			Net
Technology	$	37,500	$	(8,694	)	$	28,806
Customer lists	33,100		(3,239		)	29,861
Trademarks and tradenames	6,942		(1,992		)	4,950
Tenant leases	1,362		(504		)	858
Website content	7,800		(1,300		)	6,500
Other	256		(248		)	8
Balance at December 31, 2017	$	86,960	$	(15,977	)	$	70,983

Schedule of amortization of intangible assets with definite lives for the next five years



	Amortization Expense
Remainder of current year	$	6,264
Year ending December 31, 2019	23,969
Year ending December 31, 2020	20,994
Year ending December 31, 2021	10,509
Year ending December 31, 2022	5,334
Thereafter	18,758
Total intangible assets with definite lives, net	$	85,828

BUSINESS ACQUISITION (Tables)

9 Months Ended

Sep. 30, 2018

Business Combinations [Abstract]

Schedule of purchase price allocation

The acquisition has been accounted for as a business combination. The preliminary allocation of purchase price to the assets acquired and liabilities assumed is as follows (in thousands):



	Preliminary Fair Value
Net working capital	$	5,159
Intangible assets	19,900
Goodwill	41,682
Net deferred tax liabilities	(6,323		)
Total preliminary purchase price	$	60,418

The preliminary allocation of purchase price to the assets acquired and liabilities assumed is as follows (in thousands):



	Preliminary Fair Value
Net working capital	$	323
Fixed assets	76
Intangible assets	8,900
Goodwill	11,280
Net deferred tax liabilities	(2,708		)
Total purchase price	$	17,871

Schedule of the fair value of definite lived intangible assets acquired

The fair value of the intangible assets with definite lives are as follows (dollars in thousands):



	Fair Value		Weighted Average Amortization Life
Technology	$	6,000	7 years
Customer lists	1,900		1 year
Trademarks and tradenames	1,000		4 years
Total intangible assets	$	8,900	5.4 years

The fair value of the intangible assets with definite lives are as follows (dollars in thousands):



	Preliminary Fair Value		Weighted Average Amortization Life
Content	$	16,400	3 years
Customer lists	2,500		10 years
Trademarks and tradenames	1,000		5 years
Total intangible assets	$	19,900	4.0 years

Unaudited pro forma revenue and net income from continuing operations of business acquisitions



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
	(in thousands)
Pro forma revenue	$	198,216	$	177,670	$	578,608	$	479,775
Pro forma net income from continuing operations	$	28,271	$	9,041	$	110,308	$	22,522

SHAREHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Schedule of weighted average basic and diluted common shares

Basic and diluted income per share was determined based on the following share data (in thousands):



	Three Months Ended September 30,		Nine Months Ended September 30,
	2018	2017	2018	2017
Weighted average basic common shares	12,799	11,999	12,437	11,931
Effect of stock options	758	1,619	1,160	1,598
Effect of dilutive share awards	110	101	167	96
Effect of Convertible Senior Notes and warrants	183	55	535	—
Weighted average diluted common shares	13,850	13,774	14,299	13,625

STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of non-cash compensation expense related to equity awards

Non-cash compensation related to equity awards is included in the following line items in the accompanying consolidated statements of operations and comprehensive income (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Cost of revenue	$	123	$	41	$	260	$	129
Selling and marketing expense	1,577		1,366		4,511		2,543
General and administrative expense	8,388		5,864		25,617		8,684
Product development	2,009		667		3,996		1,712
Total non-cash compensation	$	12,097	$	7,938	$	34,384	$	13,068

Summary of changes in outstanding stock options

A summary of changes in outstanding stock options is as follows:



	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value^(a)
			(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2018	1,863,739		$	30.70
Granted ^(b)	58,901		317.31
Exercised	(971,211	)	16.31
Forfeited	(6,425	)	299.89
Expired	—		—
Options outstanding at September 30, 2018	945,004		61.53		5.42	$	163,927
Options exercisable at September 30, 2018	772,651		$	25.03	4.64	$	158,473

(a)

(b)

A summary of the changes in outstanding stock options with performance conditions is as follows:



	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value^(a)
		(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2018	37,877	$	308.90
Granted	—	—
Exercised	—	—
Forfeited	—	—
Expired	—	—
Options outstanding at September 30, 2018	37,877	$	308.90	9.20	$	—
Options exercisable at September 30, 2018	—	$	—	0	$	—

(a)

Schedule of stock option valuation assumptions



Expected term ⁽¹⁾	5.00 - 6.34 years
Expected dividend ⁽²⁾	—
Expected volatility ⁽³⁾	50% - 53%
Risk-free interest rate ⁽⁴⁾	2.33% - 2.90%


(1)	The expected term of stock options granted was calculated using the "Simplified Method," which utilizes the midpoint between the weighted average time of vesting and the end of the contractual term. This method was utilized for the stock options due to a lack of historical exercise behavior by the Company's employees.


(2)	For all stock options granted in 2018, no dividends are expected to be paid over the contractual term of the stock options, resulting in a zero expected dividend rate.


(3)	The expected volatility rate is based on the historical volatility of the Company's common stock.


(4)	The risk-free interest rate is specific to the date of grant. The risk-free interest rate is based on U.S. Treasury yields for notes with comparable expected terms as the awards, in effect at the grant date.



Expected term ⁽¹⁾	7.00 - 7.15 years
Expected dividend ⁽²⁾	—
Expected volatility ⁽³⁾	50%
Risk-free interest rate ⁽⁴⁾	2.38% - 2.81%


(1)	The expected term of stock options with a market condition granted was calculated using the midpoint between the weighted average time of vesting and the end of the contractual term.


(2)	For all stock options with a market condition granted in 2018, no dividends are expected to be paid over the contractual term of the stock options, resulting in a zero expected dividend rate.


(3)	The expected volatility rate is based on the historical volatility of the Company's common stock.


(4)	The risk-free interest rate is specific to the date of grant. The risk-free interest rate is based on U.S. Treasury yields for notes with comparable expected terms as the awards, in effect at the grant date.

Schedule of changes in outstanding non-vested RSUs and restricted stock

A summary of the changes in outstanding nonvested restricted stock units ("RSUs"), exclusive of RSUs granted to the Chairman and Chief Executive Officer in 2018 described below, is as follows:



	RSUs
	Number of Units		Weighted Average Grant Date Fair Value
			(per unit)
Nonvested at January 1, 2018	152,829		$	121.68
Granted	90,343		295.49
Vested	(63,980	)	99.58
Forfeited	(9,288	)	218.95
Nonvested at September 30, 2018	169,904		$	217.10

Schedule of changes in outstanding nonvested RSUs with performance conditions

A summary of the changes in outstanding nonvested RSUs with performance conditions is as follows:



	RSUs with Performance Conditions
	Number of Units		Weighted Average Grant Date Fair Value
			(per unit)
Nonvested at January 1, 2018	111,205		$	160.34
Granted	—		—
Vested	(12,226	)	106.18
Forfeited	(2,652	)	113.22
Nonvested at September 30, 2018	96,327		$	168.52

Schedule of changes in outstanding stock options with market conditions

A summary of changes in outstanding stock options with market conditions is as follows:



	Number of Options with Market Conditions	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value^(a)
		(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2018	402,694	$	183.80
Granted^(b)	44,499	351.70
Exercised	—	—
Forfeited	—	—
Expired	—	—
Options outstanding at September 30, 2018	447,193	200.51		8.87	$	18,645
Options exercisable at September 30, 2018	—	$	—	0	$	—

(a)


(b)	During the nine months ended September 30, 2018, the Company granted stock options with a weighted average grant date fair value per share of $296.80, calculated using the Monte Carlo simulation model, which have vesting dates of March 31, 2022 and September 30, 2022.

INCOME TAXES (Tables)

9 Months Ended

Sep. 30, 2018

Income Tax Disclosure [Abstract]

Schedule of income tax (expense) benefit



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
	(in thousands, except percentages)
Income tax benefit (expense)	$	10,534		$	(4,292	)	$	63,716		$	(3,109	)
Effective tax rate	-59.1		%	29.8		%	-140.5		%	10.7		%

Reconciliation of income tax (expense) benefit



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
	(in thousands)
Income tax expense - excluding excess tax benefit on stock compensation	$	(3,787	)	$	(5,103	)	$	(11,475	)	$	(11,523	)
Excess tax benefit on stock compensation	14,321			811			75,191			8,414
Income tax benefit (expense)	$	10,534		$	(4,292	)	$	63,716		$	(3,109	)

FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Schedule of changes in assets and liabilities that are measured at fair value on a recurring basis using significant unobservable inputs

The changes in the fair value of the Company's Level 3 liabilities during the three and nine months ended September 30, 2018 and 2017 are as follows (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Contingent consideration, beginning of period	$	15,241		$	46,227		$	57,349		$	23,100
Transfers into Level 3	—			—			—			—
Transfers out of Level 3	—			—			—			—
Total net (gains) losses included in earnings (realized and unrealized)	2,105			2,501			1,197			20,640
Purchases, sales and settlements:
Additions	—			6,330			5,800			11,318
Payments	(1,000		)	(1,000		)	(48,000		)	(1,000		)
Contingent consideration, end of period	$	16,346		$	54,058		$	16,346		$	54,058

SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Schedule of mortgage and non-mortgage product revenue

Mortgage and non-mortgage product revenue is as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Mortgage products	$	55,287	$	73,756	$	195,697	$	208,209
Non-mortgage products	141,770		97,738		366,496		248,573
Total revenue	$	197,057	$	171,494	$	562,193	$	456,782

DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Sep. 30, 2018

DISCONTINUED OPERATIONS

Schedule of revenue and net income (loss) of the discontinued operations

The revenue and net loss reported as discontinued operations in the accompanying consolidated statements of operations and comprehensive income are as follows (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Revenue	$	—		$	—		$	—		$	(750	)

Loss before income taxes	$	(3,334	)	$	(1,555	)	$	(11,733	)	$	(4,049	)
Income tax benefit	700			544			2,464			1,417
Net loss	$	(2,634	)	$	(1,011	)	$	(9,269	)	$	(2,632	)

Schedule of the number of loans sold and the original issue balance

The following table represents the aggregate loans sold, subsequent settlements and remaining unsettled loans.



	Number of Loans		Original Issue Balance
	(in thousands)		(in billions)
Loans sold by HLC	234		$	38.9
Subsequent settlements	(172	)	(28.8		)
Remaining unsettled balance as of September 30, 2018	62		$	10.1

Lending Tree Loans

DISCONTINUED OPERATIONS

Schedule of activity related to loss reserves on previously sold loans

The activity related to loss reserves on previously sold loans is as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Loan loss reserve, beginning of period	$	7,554	$	7,554	$	7,554	$	6,804
Provisions	—		—		—		750
Charge-offs to reserves	—		—		—		—
Loan loss reserve, end of period	$	7,554	$	7,554	$	7,554	$	7,554

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
Balance Sheet Related Disclosures [Abstract]
Prepaid and other current assets	$ 16,411		$ 16,411		$ 13,784	$ 11,881
Deferred income tax assets	75,484		75,484		19,626	20,156
Accumulated deficit	(607,182)		(607,182)		$ (706,981)	(708,354)
Income Statement Related Disclosures [Abstract]
Revenue	197,057	$ 171,494	562,193	$ 456,782
Income tax benefit (expense)	10,534	(4,292)	63,716	(3,109)
Net income from continuing operations	28,362	$ 10,131	109,068	$ 25,936
Balances without adoption of ASC Topic 606
Balance Sheet Related Disclosures [Abstract]
Prepaid and other current assets	12,103		12,103			11,881
Deferred income tax assets	76,014		76,014			20,156
Accumulated deficit	(610,960)		(610,960)			(708,354)
Income Statement Related Disclosures [Abstract]
Revenue	196,316		560,560
Income tax benefit (expense)	10,733		64,146
Net income from continuing operations	27,820		107,865
Adjustments due to ASC Topic 606 \| Accounting Standards Update 2014-09
Balance Sheet Related Disclosures [Abstract]
Prepaid and other current assets	4,308		4,308			1,903
Deferred income tax assets	(530)		(530)			(530)
Accumulated deficit	3,778		3,778			$ 1,373
Income Statement Related Disclosures [Abstract]
Revenue	741		1,633
Income tax benefit (expense)	(199)		(430)
Net income from continuing operations	$ 542		$ 1,203

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
REVENUE (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jan. 01, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 197,057	$ 171,494	$ 562,193	$ 456,782
Contract asset	4,300		4,300		$ 1,900
Contract liability	300		300
Revenue recognized from prior period	100
Mortgage products
Disaggregation of Revenue [Line Items]
Revenue	55,287	73,756	195,697	208,209
Credit Cards
Disaggregation of Revenue [Line Items]
Revenue	42,698	39,369	127,577	110,134
Personal Loans
Disaggregation of Revenue [Line Items]
Revenue	38,569	25,449	100,744	62,984
Other Products And Services
Disaggregation of Revenue [Line Items]
Revenue	60,503	32,920	138,175	75,455
Non-mortgage products
Disaggregation of Revenue [Line Items]
Revenue	$ 141,770	$ 97,738	$ 366,496	$ 248,573

CASH AND RESTRICTED CASH (Details - Balance Sheet) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Restricted Cash and Cash Equivalents
Cash and cash equivalents	$ 265,194	$ 368,550
Restricted cash and cash equivalents	47	4,091
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	265,241	372,641	$ 349,326	$ 95,220
Cash in escrow for sale of LendingTree Loans
Restricted Cash and Cash Equivalents
Restricted cash and cash equivalents	0	4,034
Other Restricted Cash and Cash Equivalents
Restricted Cash and Cash Equivalents
Restricted cash and cash equivalents	$ 47	$ 57

GOODWILL AND INTANGIBLE ASSETS (Details - Balance Sheet) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Goodwill [Roll Forward]
Beginning Goodwill	$ 596,456
Beginning accumulated impairment losses	(483,088)
Beginning net goodwill	113,368
Ending Goodwill	649,418
Ending accumulated impairment losses	(483,088)
Ending net goodwill	166,330
Intangible Assets, Net (Including Goodwill) [Abstract]
Intangible assets with indefinite lives	10,142	$ 10,142
Intangible assets with definite lives, net	85,828	70,983
Total intangible assets, net	95,970	$ 81,125
Student Loan Hero
Goodwill [Roll Forward]
Goodwill	41,682
Accumulated Impairment Loss	0
Ending net goodwill	41,682
Ovation
Goodwill [Roll Forward]
Goodwill	11,280
Accumulated Impairment Loss	0
Ending net goodwill	$ 11,280

GOODWILL AND INTANGIBLE ASSETS (Details - Definite Lived Intangibles) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Intangible assets with definite lives
Cost	$ 115,478	$ 86,960
Accumulated Amortization	(29,650)	(15,977)
Total intangible assets with definite lives, net	85,828	70,983
Technology
Intangible assets with definite lives
Cost	43,500	37,500
Accumulated Amortization	(15,680)	(8,694)
Total intangible assets with definite lives, net	27,820	28,806
Customer lists
Intangible assets with definite lives
Cost	37,500	33,100
Accumulated Amortization	(5,969)	(3,239)
Total intangible assets with definite lives, net	31,531	29,861
Trademarks and tradenames
Intangible assets with definite lives
Cost	8,942	6,942
Accumulated Amortization	(3,040)	(1,992)
Total intangible assets with definite lives, net	5,902	4,950
Tenant leases
Intangible assets with definite lives
Cost	1,081	1,362
Accumulated Amortization	(550)	(504)
Total intangible assets with definite lives, net	531	858
Website content
Intangible assets with definite lives
Cost	24,200	7,800
Accumulated Amortization	(4,161)	(1,300)
Total intangible assets with definite lives, net	20,039	6,500
Other
Intangible assets with definite lives
Cost	255	256
Accumulated Amortization	(250)	(248)
Total intangible assets with definite lives, net	$ 5	$ 8

GOODWILL AND INTANGIBLE ASSETS (Details - 5yr Definite Lived Intangibles Amortization) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Amortization of intangible assets with definite lives computed on a straight-line basis
Remainder of current year	$ 6,264
2019	23,969
2020	20,994
2021	10,509
2022	5,334
Thereafter	18,758
Total intangible assets with definite lives, net	$ 85,828	$ 70,983

BUSINESS ACQUISITION (Details - 2018 Acquisitions)						3 Months Ended		9 Months Ended
BUSINESS ACQUISITION (Details - 2018 Acquisitions)	Jul. 23, 2018 USD ($)	Jun. 11, 2018 USD ($) payment	Sep. 19, 2017 USD ($) payment	Jun. 14, 2017 USD ($) payment	Nov. 17, 2016 USD ($) payment	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2018 USD ($) segment	Sep. 30, 2017 USD ($)	Dec. 31, 2017 USD ($)	Nov. 16, 2016 USD ($)
Consideration Transferred
Goodwill						$ 166,330,000		$ 166,330,000		$ 113,368,000
Fair Value of Intangible Assets
Severance expense						2,328,000	$ 0	$ 2,331,000	$ 404,000
Number of reportable segments \| segment								1
Acquisition related costs								$ 1,000,000
Change in fair value of contingent consideration						2,105,000	$ 2,501,000	1,197,000	20,640,000
Student Loan Hero
Consideration Transferred
Net working capital						5,159,000		5,159,000
Intangible assets						19,900,000		19,900,000
Goodwill						41,682,000		41,682,000
Net deferred tax liabilities						(6,323,000)		(6,323,000)
Total preliminary purchase price	$ 60,418,000
Fair Value of Intangible Assets
Preliminary Fair Value	$ 19,900,000
Weighted Average Amortization Life	4 years
Initial cash consideration to acquire business	$ 60,700,000
Severance expense	2,328,000
Estimated increase to working capital	2,000,000
Acquisition related costs						200,000		500,000
Ovation
Consideration Transferred
Net working capital						323,000		323,000
Intangible assets						8,900,000		8,900,000
Goodwill						11,280,000		11,280,000
Net deferred tax liabilities						(2,708,000)		(2,708,000)
Fixed assets						76,000		76,000
Total preliminary purchase price		$ 17,871,000
Fair Value of Intangible Assets
Preliminary Fair Value		$ 8,900,000
Weighted Average Amortization Life		5 years 5 months
Initial cash consideration to acquire business		$ 12,200,000
Contingent consideration		5,800,000				6,700,000		6,700,000
Estimated increase to working capital		$ 100,000
Acquisition related costs						100,000		400,000
Number of payments \| payment		2
Change in fair value of contingent consideration								900,000
CompareCards
Consideration Transferred
Total preliminary purchase price					$ 103,800,000
Fair Value of Intangible Assets
Initial cash consideration to acquire business					$ 80,700,000
Contingent consideration											$ 23,100,000
Number of payments \| payment					2
Contingent consideration range, maximum											45,000,000
Change in fair value of contingent consideration								700,000
DepositAccounts
Consideration Transferred
Total preliminary purchase price				$ 29,000,000
Fair Value of Intangible Assets
Initial cash consideration to acquire business				24,000,000				0	25,000,000
Contingent consideration				$ 5,000,000
Number of payments \| payment				7
Contingent consideration range, maximum				$ 9,000,000
Change in fair value of contingent consideration						100,000		1,400,000
SnapCap
Consideration Transferred
Total preliminary purchase price			$ 18,200,000
Fair Value of Intangible Assets
Initial cash consideration to acquire business			11,900,000					10,000	$ 11,886,000
Contingent consideration			$ 6,300,000			5,200,000		5,200,000
Number of payments \| payment			3
Change in fair value of contingent consideration						$ 1,100,000		$ 1,800,000
Technology \| Ovation
Fair Value of Intangible Assets
Preliminary Fair Value		$ 6,000,000
Weighted Average Amortization Life		7 years
Website content \| Student Loan Hero
Fair Value of Intangible Assets
Preliminary Fair Value	$ 16,400,000
Weighted Average Amortization Life	3 years
Customer lists \| Student Loan Hero
Fair Value of Intangible Assets
Preliminary Fair Value	$ 2,500,000
Weighted Average Amortization Life	10 years
Customer lists \| Ovation
Fair Value of Intangible Assets
Preliminary Fair Value		$ 1,900,000
Weighted Average Amortization Life		1 year
Trademarks and tradenames \| Student Loan Hero
Fair Value of Intangible Assets
Preliminary Fair Value	$ 1,000,000
Weighted Average Amortization Life	5 years
Trademarks and tradenames \| Ovation
Fair Value of Intangible Assets
Preliminary Fair Value		$ 1,000,000
Weighted Average Amortization Life		4 years
Contingent earnout \| Ovation
Fair Value of Intangible Assets
Contingent consideration range, minimum		$ 0
Contingent consideration range, maximum		$ 4,375,000
Contingent earnout \| CompareCards
Fair Value of Intangible Assets
Contingent consideration range, maximum											$ 22,500,000
Contingent earnout \| SnapCap
Fair Value of Intangible Assets
Contingent consideration range, minimum			$ 0
Contingent consideration range, maximum			$ 3,000,000

BUSINESS ACQUISITION BUSINESS ACQUISITION (Details - Changes in Contingent Consideration)				3 Months Ended					9 Months Ended
	Sep. 19, 2017 USD ($) payment	Jun. 14, 2017 USD ($) payment	Nov. 17, 2016 USD ($) payment	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Dec. 31, 2017 USD ($)	Nov. 16, 2016 USD ($)
Business Acquisition [Line Items]
Contingent consideration payments									$ 26,600,000	$ 0
Current contingent consideration					$ 7,327,000				7,327,000		$ 46,576,000
Non-current contingent consideration					9,019,000				9,019,000		$ 11,273,000
Change in fair value of contingent consideration					2,105,000			$ 2,501,000	1,197,000	20,640,000
CompareCards
Business Acquisition [Line Items]
Initial cash consideration to acquire business			$ 80,700,000
Number of payments \| payment			2
Contingent consideration range, maximum												$ 45,000,000
Total preliminary purchase price			$ 103,800,000
Contingent consideration												23,100,000
Contingent consideration payments						$ 22,500,000	$ 22,500,000
Change in fair value of contingent consideration									700,000
DepositAccounts
Business Acquisition [Line Items]
Initial cash consideration to acquire business		$ 24,000,000							0	25,000,000
Number of payments \| payment		7
Contingent consideration range, maximum		$ 9,000,000
Total preliminary purchase price		29,000,000
Contingent consideration		5,000,000
Contingent consideration payment								$ 1,000,000
Contingent consideration payments					1,000,000
Current contingent consideration					4,400,000				4,400,000
Change in fair value of contingent consideration					100,000				1,400,000
Value of potential contingent consideration payments based on specified increases in federal funds interest rates		1,000,000
One-time contingent consideration performance payment		$ 2,000,000
SnapCap
Business Acquisition [Line Items]
Initial cash consideration to acquire business	$ 11,900,000								10,000	$ 11,886,000
Number of payments \| payment	3
Total preliminary purchase price	$ 18,200,000
Contingent consideration	6,300,000				5,200,000				5,200,000
Current contingent consideration					2,900,000				2,900,000
Non-current contingent consideration					2,300,000				2,300,000
Change in fair value of contingent consideration					$ 1,100,000				$ 1,800,000
Contingent earnout \| CompareCards
Business Acquisition [Line Items]
Contingent consideration range, maximum												$ 22,500,000
Contingent earnout \| SnapCap
Business Acquisition [Line Items]
Contingent consideration range, minimum	0
Contingent consideration range, maximum	$ 3,000,000
Cash Flows from Financing Activities \| CompareCards
Business Acquisition [Line Items]
Contingent consideration payments						600,000
Cash Flows from Operating Activities \| CompareCards
Business Acquisition [Line Items]
Contingent consideration payments						$ 21,900,000
Subsequent Event \| DepositAccounts
Business Acquisition [Line Items]
Contingent consideration payments				$ 1,000,000

BUSINESS ACQUISITION BUSINESS ACQUISITION (Details - Pro forma Financial Results) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Business Acquisition, Pro Forma Information [Abstract]
Business Acquisition, Pro Forma Revenue	$ 198,216	$ 177,670	$ 578,608	$ 479,775
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations, Net of Tax	28,271	9,041	110,308	22,522
After tax contingent consideration tax	1,600	$ 1,500	900	$ 12,400
Acquisition related costs			1,000
Revenue of acquirees	6,700		7,200
Net loss from continuing operations from acquirees	$ 1,200		$ 1,300

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details - Balance Sheet) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Charitable Contribution Accrual	$ 10,000	$ 10,000
Accrued expenses and other current liabilities
Accrued advertising expense	33,449	40,727
Accrued compensation and benefits	4,847	7,679
Accrued professional fees	988	2,072
Customer deposits and escrows	5,600	5,564
Other	13,827	11,141
Total accrued expenses and other current liabilities	$ 68,711	$ 77,183

SHAREHOLDERS' EQUITY (Details) - USD ($)	3 Months Ended		9 Months Ended
SHAREHOLDERS' EQUITY (Details) - USD ($)	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Feb. 21, 2018	May 31, 2017	Feb. 25, 2016	Jan. 14, 2016	May 07, 2014	Jan. 11, 2010
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Annual interest rate on convertible senior notes						0.625%
Calculation of weighted average common shares
Weighted average common shares, basic	12,799,000	11,999,000	12,437,000	11,931,000
Effect of dilutive securities
Effect of stock options (in shares)	758,000	1,619,000	1,160,000	1,598,000
Effect of dilutive share awards (in shares)	110,000	101,000	167,000	96,000
Effect of Convertible Senior Notes (in shares)	183,000	55,000	535,000	0
Weighted average common shares, diluted	13,850,000	13,774,000	14,299,000	13,625,000
Common stock repurchases
Value of common stock authorized to be repurchased					$ 100,000,000		$ 40,000,000	$ 50,000,000	$ 10,000,000	$ 10,000,000
Purchase of treasury stock (in shares)			205,310	42,153
Treasury Stock, Value, Acquired, Cost Method			$ 57,183,000	$ 10,000,000
Remaining authorized repurchase amount	$ 70,600,000		$ 70,600,000
Employee stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	500,000	300,000	400,000	100,000
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	100,000	100,000

STOCK-BASED COMPENSATION (Details - P&L Impact) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Non-cash compensation expense related to equity awards
Total non-cash compensation	$ 12,097	$ 7,938	$ 34,384	$ 13,068
Cost of revenue
Non-cash compensation expense related to equity awards
Total non-cash compensation	123	41	260	129
Selling and marketing expense
Non-cash compensation expense related to equity awards
Total non-cash compensation	1,577	1,366	4,511	2,543
General and administrative expense
Non-cash compensation expense related to equity awards
Total non-cash compensation	8,388	5,864	25,617	8,684
Product development
Non-cash compensation expense related to equity awards
Total non-cash compensation	$ 2,009	$ 667	$ 3,996	$ 1,712

STOCK-BASED COMPENSATION (Details - Stock Options Rollforward) - USD ($)				9 Months Ended
	Feb. 16, 2018	Jan. 02, 2018	Jul. 26, 2017	Sep. 30, 2018	May 24, 2017
Stock options, Shares
Granted (in shares)	13,163	58,010	402,694
Stock options, Weighted Average Exercise Price
Granted (in dollars per share)	$ 378.95	$ 340.25	$ 183.80
Stock options, Grant Date Fair Value Valuation
Share price				$ 230.10	$ 156.70
Grant date fair value				$ 161.58
Aggregate stock options
Stock options, Shares
Outstanding at the beginning of the period (in shares)				1,863,739
Granted (in shares)				58,901
Exercised (in shares)				(971,211)
Forfeited (in shares)				(6,425)
Expired (in shares)				0
Outstanding at the end of the period (in shares)				945,004
Options exercisable at the end of the period (in shares)				772,651
Stock options, Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)				$ 30.70
Granted (in dollars per share)				317.31
Exercised (in dollars per share)				16.31
Forfeited (in dollars per share)				299.89
Expired (in dollars per share)				0.00
Outstanding at the end of the period (in dollars per share)				61.53
Options exercisable at the end of the period (in dollars per share)				$ 25.03
Stock options, Weighted Average Remaining Contractual Term
Outstanding at the end of the period				5 years 5 months
Options exercisable at the end of the period				4 years 7 months 22 days
Stock options, Aggregate Intrinsic Value
Outstanding at the end of the period				$ 163,927,000
Options exercisable at the end of the period				$ 158,473,000
Stock options, Grant Date Fair Value Valuation
Expected dividend rate				0.00%
Expected volatility, minimum				50.00%
Expected volatility, maximum				53.00%
Risk-free interest rate, minimum				2.33%
Risk-free interest rate, maximum				2.90%
Expected dividends				$ 0
Employee stock option 2
Stock options, Shares
Outstanding at the beginning of the period (in shares)				37,877
Granted (in shares)				0
Exercised (in shares)				0
Forfeited (in shares)				0
Expired (in shares)				0
Outstanding at the end of the period (in shares)				37,877
Options exercisable at the end of the period (in shares)				0
Stock options, Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)				$ 308.90
Granted (in dollars per share)				0.00
Exercised (in dollars per share)				0.00
Forfeited (in dollars per share)				0.00
Expired (in dollars per share)				0.00
Outstanding at the end of the period (in dollars per share)				308.90
Options exercisable at the end of the period (in dollars per share)				$ 0.00
Stock options, Weighted Average Remaining Contractual Term
Outstanding at the end of the period				9 years 2 months 13 days
Options exercisable at the end of the period				0 years
Stock options, Aggregate Intrinsic Value
Outstanding at the end of the period				$ 0
Options exercisable at the end of the period				$ 0
Performance options
Stock options, Shares
Outstanding at the beginning of the period (in shares)				402,694
Granted (in shares)	21,982	31,336		44,499
Exercised (in shares)				0
Expired (in shares)				0
Outstanding at the end of the period (in shares)				447,193
Options exercisable at the end of the period (in shares)				0
Stock options, Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)				$ 183.80
Granted (in dollars per share)				351.70
Exercised (in dollars per share)				0.00
Forfeited (in dollars per share)				0.00
Expired (in dollars per share)				0.00
Outstanding at the end of the period (in dollars per share)				200.51
Options exercisable at the end of the period (in dollars per share)				$ 0.00
Stock options, Weighted Average Remaining Contractual Term
Outstanding at the end of the period				8 years 10 months 15 days
Options exercisable at the end of the period				0 years
Stock options, Aggregate Intrinsic Value
Outstanding at the end of the period				$ 18,645,000
Options exercisable at the end of the period				$ 0
Stock options, Grant Date Fair Value Valuation
Grant date fair value				$ 296.80
Expected dividend rate				0.00%
Risk-free interest rate, minimum				2.38%
Risk-free interest rate, maximum				2.81%
Expected dividends				$ 0
Minimum \| Aggregate stock options
Stock options, Grant Date Fair Value Valuation
Expected term				P5Y
Minimum \| Employee stock options
Stock options, Grant Date Fair Value Valuation
Grant date fair value
Minimum \| Performance options
Stock options, Grant Date Fair Value Valuation
Expected term				P7Y
Maximum
Stock options, Shares
Granted (in shares)	21,982		672,499
Maximum \| Aggregate stock options
Stock options, Grant Date Fair Value Valuation
Expected term				P6Y4M3D
Maximum \| Employee stock options
Stock options, Grant Date Fair Value Valuation
Grant date fair value
Maximum \| Performance options
Stock options, Grant Date Fair Value Valuation
Expected term				P7Y1M24D
50% over a period of two years from the grant date [Member] \| Employee stock options
Stock options, Grant Date Fair Value Valuation
Vesting period				2 years
33% over a period of three years from the grant date [Member] \| Employee stock options
Stock options, Grant Date Fair Value Valuation
Vesting period				3 years
25% over a period of four years from the grant date [Member] \| Employee stock options
Stock options, Grant Date Fair Value Valuation
Vesting period				4 years
100% over a period of one year from the grant date [Member] \| Employee stock options
Stock options, Grant Date Fair Value Valuation
Vesting period				1 year

STOCK-BASED COMPENSATION (Details - RSA & RSU Rollforwards) - Restricted Stock Units (RSUs) - $ / shares		9 Months Ended
	Feb. 16, 2018	Sep. 30, 2018
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Number of Shares
Nonvested at the beginning of the period (in shares)		152,829
Granted (in shares)	9,896	90,343
Vested (in shares)		63,980
Forfeited (in shares)		(9,288)
Nonvested at the end of the period (in shares)		169,904
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)		$ 121.68
Granted (in dollars per share)	$ 378.95	295.49
Vested (in dollars per share)		99.58
Forfeited (in dollars per share)		218.95
Nonvested at the end of the period (in dollars per share)		$ 217.10

STOCK-BASED COMPENSATION (Details - RSUs with performance conditions) - Performance Shares - $ / shares			9 Months Ended
	Jul. 26, 2017	Jul. 25, 2017	Sep. 30, 2018
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Number of Shares
Nonvested at the beginning of the period (in shares)			111,205
Granted (in shares)		119,015	0
Vested (in shares)			(12,226)
Forfeited (in shares)			(2,652)
Nonvested at the end of the period (in shares)			96,327
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)			$ 160.34
Granted (in dollars per share)	$ 1,900,000		0.00
Vested (in dollars per share)			106.18
Forfeited (in dollars per share)			113.22
Nonvested at the end of the period (in dollars per share)			$ 168.52

STOCK-BASED COMPENSATION (Details - Chairman and Chief Executive Officer Grants) - USD ($)					3 Months Ended		9 Months Ended
	Feb. 16, 2018	Jan. 02, 2018	Jul. 26, 2017	Jul. 25, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	May 24, 2017
STOCK-BASED COMPENSATION
Target grant date value of performance based equity compensation	$ 7,500,000			$ 87,500,000
Percentage, Target grant date value of performance based equity compensation, Restricted stock awards	50.00%			25.00%
Percentage, Target grant date value of performance based equity compensation, Nonqualified stock options	50.00%			75.00%
Targeted total shareholder return performance, Nonqualified stock options	81.00%			110.00%
Granted (in shares)	13,163	58,010	402,694
Granted (in dollars per share)	$ 378.95	$ 340.25	$ 183.80
Annaul grant limit per employee (in shares)							672,500
Total non-cash compensation					$ 12,097,000	$ 7,938,000	$ 34,384,000	$ 13,068,000
Stock options, Shares
Granted (in shares)	13,163	58,010	402,694
Stock options, Weighted Average Exercise Price
Granted (in dollars per share)	$ 378.95	$ 340.25	$ 183.80
Stock options, Grant Date Fair Value Valuation
Share price					$ 230.10		$ 230.10		$ 156.70
Grant date fair value							$ 161.58
Maximum
STOCK-BASED COMPENSATION
Targeted total shareholder return performance, Nonqualified stock options	167.00%			167.00%
Granted (in shares)	21,982		672,499
Stock options, Shares
Granted (in shares)	21,982		672,499
Minimum
STOCK-BASED COMPENSATION
Targeted total shareholder return performance, Nonqualified stock options	41.00%			70.00%
Performance Shares
STOCK-BASED COMPENSATION
Granted (in shares)				119,015			0
Maximum potential future issuance of performance based equity compensation, Nonqualified stock options				769,376
Granted (in shares)		26,674
Granted (in dollars per share)			$ 1,900,000				$ 0.00
Vested (in shares)							12,226
Performance awards earned					19,175		19,175
Stock options, Shares
Granted (in shares)		26,674
Forfeited (in shares)							(2,652)
Performance options
STOCK-BASED COMPENSATION
Granted (in shares)	21,982	31,336					44,499
Granted (in dollars per share)							$ 351.70
Granted (in dollars per share)			$ 9,500,000
Performance awards earned					312,008		312,008
Stock options, Shares
Outstanding at the beginning of the period (in shares)							402,694
Granted (in shares)	21,982	31,336					44,499
Exercised (in shares)							0
Forfeited (in shares)							0
Expired (in shares)							0
Outstanding at the end of the period (in shares)					447,193		447,193
Options exercisable at the end of the period (in shares)					0		0
Stock options, Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)							$ 183.80
Granted (in dollars per share)							351.70
Exercised (in dollars per share)							0.00
Forfeited (in dollars per share)							0.00
Expired (in dollars per share)							0.00
Outstanding at the end of the period (in dollars per share)					$ 200.51		200.51
Options exercisable at the end of the period (in dollars per share)					$ 0.00		$ 0.00
Stock options, Weighted Average Remaining Contractual Term
Outstanding at the end of the period							8 years 10 months 15 days
Options exercisable at the end of the period							0 years
Stock options, Aggregate Intrinsic Value
Outstanding at the end of the period					$ 18,645,000		$ 18,645,000
Options exercisable at the end of the period					0		$ 0
Stock options, Grant Date Fair Value Valuation
Grant date fair value							$ 296.80
Expected dividend rate							0.00%
Expected volatility							50.00%
Risk-free interest rate, minimum							2.38%
Risk-free interest rate, maximum							2.81%
Expected dividends							$ 0
Performance options \| Maximum
Stock options, Grant Date Fair Value Valuation
Expected term							P7Y1M24D
Performance options \| Minimum
Stock options, Grant Date Fair Value Valuation
Expected term							P7Y
Restricted Stock Units (RSUs)
STOCK-BASED COMPENSATION
Granted (in shares)	9,896						90,343
Granted (in dollars per share)	$ 378.95						$ 295.49
Vested (in shares)							63,980
Stock options, Shares
Forfeited (in shares)							(9,288)
Time-Vested Performance Shares
STOCK-BASED COMPENSATION
Granted (in shares)		119,015
Granted (in dollars per share)		$ 21,900,000
Vested (in shares)							41,653
Chairman And Chief Executive Officer [Member]
STOCK-BASED COMPENSATION
Total non-cash compensation					$ 4,900,000		$ 15,600,000

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income tax benefit (expense)	$ 10,534	$ (4,292)	$ 63,716	$ (3,109)
Effective tax rates (as a percent)	(59.10%)	29.80%	(140.50%)	10.70%
Federal statutory income tax rate (as a percentage)			21.00%	35.00%
Income tax expense - excluding excess tax benefit on stock compensation	$ 3,787	$ 5,103	$ 11,475	$ 11,523
Excess tax benefits recognized in income tax expense	$ 14,321	$ 811	$ 75,191	$ 8,414

DEBT (Details - Convertible Senior Notes) $ / shares in Units, $ in Thousands		9 Months Ended
	May 31, 2017 USD ($) day $ / shares Rate shares	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Dec. 31, 2017 USD ($)
Debt Instrument [Line Items]
Aggregate principal amount of convertible senior notes	$ 300,000	$ 300,000		$ 300,000
Annual interest rate on convertible senior notes \| Rate	0.625%
Initial conversion rate, shares per $1,000 principal amount of notes \| shares	4.8163
Principal amount of notes convertible into shares	1000
Initial conversion price per share \| $ / shares	$ 207.63
Conversion rate, sales price of common stock as a percentage of the conversion price \| Rate	130.00%
Threshold trading days \| day	5
Threshold consecutive trading days \| day	5
Conversion rate, sales price of common stock as a percentage of the conversion price, five business days \| Rate	98.00%
Cash repurchase at a price equal to the principal amount of the notes, Percentage \| Rate	100.00%
Nonconvertible debt borrowing rate at the date of issuance \| Rate	5.36%
Debt component of the principal amount of the Convertible Senior Notes	$ 238,400
Equity component of the principal amount of the Convertible Senior Notes	61,600
Financing costs related to the issuance of the Convertible Senior Notes	9,300
Debt issuance costs, liability component	7,400	5,599		6,599
Debt issuance costs, equity component	$ 1,900
Total interest expense on the Convertible Senior Notes		10,900	$ 4,700
Interest expense recognized associated with the 0.625% coupon rate		1,400	600
Amortization of convertible debt discount		8,497	3,635
Amortization of debt issuance costs		1,308	622
Long-term debt		247,696		238,199
Fair value of the Convertible Senior Notes using a Level 1 observable input		382,100
Unamortized debt discount		46,705		$ 55,202
Convertible Notes Payable [Member]
Debt Instrument [Line Items]
Amortization of debt issuance costs		$ 1,000	$ 400

DEBT (Details - Convertible Note Hedge and Warrant Transactions) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions		9 Months Ended
	May 31, 2017	Sep. 30, 2018	Sep. 30, 2017	May 24, 2017
Debt Instrument [Line Items]
Net proceeds from the Convertible Notes used to pay for the cost of the Convertible Note Hedge	$ 18,100
Payment of convertible note hedge transactions	$ 61,500	$ 0	$ 61,500
Number of shares covered by the hedge transactions	1.4
Initial conversion price per share	$ 207.63
Strike price of warrants sold	$ 266.39
Premium of warrant strike price over sales price of common stock	70.00%
Share price		$ 230.10		$ 156.70
Proceeds from the sale of warrants	$ 43,410	$ 0	$ 43,410

DEBT (Details - Revolving Credit Facility) - USD ($)	Nov. 21, 2017	Oct. 22, 2015
Line of Credit Facility [Line Items]
Ratio of Debt to EBITDA Step-Down	4.0
Ratio of Debt to EBITDA Increase	0.5
Revolving Credit Facility
Line of Credit Facility [Line Items]
Current borrowing capacity	$ 250,000,000.0	$ 125,000,000.0
Revolving Credit Facility, term	5 years
Revolving Credit Facility, conditional increase to borrowing capacity	$ 100,000,000.0
Revolving Credit Facility, collateral, percent of assets	100.00%
Revolving Credit Facility, collateral, percent of equity	100.00%
Revolving Credit Facility, letter of credit fronting fee percentage	0.125%
Fees and expense paid to lenders at closing	$ 1,400,000
Line of Credit Facility, Collateral, Percent of Domestic Subsidiaries Equity	100.00%
Line of Credit Facility, Collateral, Percent of Voting Equity	66.00%
Line of Credit Facility, Collateral, Percent of Non-Voting Equity	100.00%
Swingline Facility [Member]
Line of Credit Facility [Line Items]
Current borrowing capacity	$ 10,000,000.0
Letters of Credit [Member]
Line of Credit Facility [Line Items]
Current borrowing capacity	$ 10,000,000.0
Federal Funds Effective Swap Rate [Member] \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	0.50%
London Interbank Offered Rate (LIBOR) [Member] \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	1.00%
Minimum \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving Credit Facility, unused capacity, commitment fee percentage	0.25%
Revolving Credit Facility, letter of credit participation fee percentage	1.25%
Minimum \| London Interbank Offered Rate (LIBOR) [Member] \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	1.25%
Minimum \| Base Rate [Member] \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	0.25%
Maximum
Line of Credit Facility [Line Items]
Ratio of Debt to EBITDA to Increase Revolving Commitment	2.50
Ratio of Debt to EBITDA	4.5
Maximum \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving Credit Facility, unused capacity, commitment fee percentage	0.45%
Revolving Credit Facility, letter of credit participation fee percentage	2.00%
Maximum \| London Interbank Offered Rate (LIBOR) [Member] \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	2.00%
Maximum \| Base Rate [Member] \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	1.00%

CONTINGENCIES (Details) $ in Millions		1 Months Ended
CONTINGENCIES (Details) $ in Millions	Jul. 09, 2015 USD ($)	Feb. 29, 2016 loan defendant	Dec. 31, 2013 claim network_lender	Sep. 30, 2018 USD ($)	Dec. 31, 2017 USD ($)
Contingencies
Accrued litigation liability				$ 0.1	$ 0.3
Pending litigation or appeal \| Residential Funding Company
Contingencies
Accrued litigation liability				7.0
Number of loan originators \| network_lender			80
Number of asserted claims \| claim			2
Damages sought	$ 44.0
Pending litigation or appeal \| Lehman Brothers Holdings, Inc. Demand Letter
Contingencies
Accrued litigation liability				1.0
Number of defendants \| defendant		149
Number of loans \| loan		64
Discontinued Operations, Disposed of by Sale
Contingencies
Accrued litigation liability				$ 8.0	$ 4.0

FAIR VALUE MEASUREMENTS (Details) - USD ($)	3 Months Ended		9 Months Ended
FAIR VALUE MEASUREMENTS (Details) - USD ($)	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jun. 11, 2018	Sep. 19, 2017	Jun. 14, 2017	May 31, 2017
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Annual interest rate on convertible senior notes								0.625%
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 15,241,000	$ 46,227,000	$ 57,349,000	$ 23,100,000
Change in fair value of contingent consideration	2,105,000	2,501,000	1,197,000	20,640,000
Contingent consideration additions	0	6,330,000	5,800,000	11,318,000
Contingent consideration payments	(1,000,000)	(1,000,000)	(48,000,000)	(1,000,000)
Ending balance	$ 16,346,000	$ 54,058,000	$ 16,346,000	$ 54,058,000
Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration					$ 0	$ 0	$ 1,000,000
Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration					$ 8,750,000	$ 9,000,000	$ 5,000,000

SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended		9 Months Ended
SEGMENT INFORMATION (Details) $ in Thousands	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2018 USD ($) segment	Sep. 30, 2017 USD ($)
Segment Information
Number of reportable segments \| segment			1
Revenue	$ 197,057	$ 171,494	$ 562,193	$ 456,782
Mortgage products
Segment Information
Revenue	55,287	73,756	195,697	208,209
Non-mortgage products
Segment Information
Revenue	$ 141,770	$ 97,738	$ 366,496	$ 248,573

DISCONTINUED OPERATIONS (Details-Disposal Groups) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Jun. 06, 2012
DISCONTINUED OPERATIONS
Cash and cash equivalents	$ 265,194		$ 265,194		$ 368,550
Revenue and net income (loss) of discontinued operations
Revenue	0	$ 0	0	$ (750)
Loss before income taxes	(3,334)	(1,555)	(11,733)	(4,049)
Income tax benefit	700	544	2,464	1,417
Loss from discontinued operations	(2,634)	$ (1,011)	(9,269)	$ (2,632)
Assets and liabilities of facilities reported as discontinued operations
Non-current assets of discontinued operations	2,428		2,428		2,428
Current liabilities	$ (18,988)		$ (18,988)		$ (14,507)
Lending Tree Loans \| Discover
DISCONTINUED OPERATIONS
Asset purchase agreement proceeds from sale						$ 55,900

DISCONTINUED OPERATIONS (Details - Loan Loss Obligations) loan in Thousands, $ in Thousands			3 Months Ended				9 Months Ended			76 Months Ended
	Oct. 15, 2015 USD ($)	Jun. 07, 2012	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Dec. 31, 2014 USD ($)	Jun. 30, 2012 investor	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2014 investor	Sep. 30, 2018 USD ($) loan	Sep. 30, 2018 USD ($) loan	Dec. 31, 2017 USD ($)	Jun. 06, 2012 USD ($) loan
Loan Loss Obligations
Restricted cash and cash equivalents											$ 47	$ 4,091
Cash and cash equivalents											$ 265,194	368,550
Original number of loans sold by HLC \| loan													234
Original principal balance of loans sold by HLC													$ 38,900,000
Subsequent settlements of loans sold by HLC, number \| loan										(172)
Subsequent settlement of loans sold by HLC, original issue balance										$ (28,800,000)
Remaining number of unsettled loans \| loan											62
Remaining unsettled loans, original issue balance											$ 10,100,000
Lending Tree Loans \| Discontinued operations
Loan Loss Obligations
Number of investors to whom loans are guaranteed \| investor									2
Loan loss obligations \| Lending Tree Loans
Loan Loss Obligations
Settlement value of indemnification claim and other miscellaneous items	$ 600				$ 5,400
Loan loss obligations \| Lending Tree Loans \| Discontinued operations
Loan Loss Obligations
Number of buyers of Previously purchased limited documentation loans with settlements \| investor						2
Loan loss reserve, at carrying value			$ 7,554	$ 7,554			$ 7,554	$ 6,804		7,554	7,554	$ 7,554
Activity related to loss reserves on previously sold loans
Loan loss reserve, beginning of period			7,554	7,554			7,554	6,804
Provisions			0	0			0	750
Charge-offs to reserves			0	0			0	0
Loan loss reserve, end of period			$ 7,554	$ 7,554			$ 7,554	$ 7,554		$ 7,554
Investor One [Member] \| Loan loss obligations \| Lending Tree Loans
Loan Loss Obligations
Number of loans sold to one investor		10.00%
Percentage of the original loan issue balance		12.00%
Investor Two [Member] \| Loan loss obligations \| Lending Tree Loans
Loan Loss Obligations
Number of loans sold to one investor		40.00%
Minimum \| Loan loss obligations \| Lending Tree Loans \| Discontinued operations
Loan Loss Obligations
Estimated range of remaining possible losses due to loan losses											4,300
Maximum \| Loan loss obligations \| Lending Tree Loans \| Discontinued operations
Loan Loss Obligations
Estimated range of remaining possible losses due to loan losses											$ 7,800

SUBSEQUENT EVENT (Details) - USD ($)	Oct. 31, 2018	Nov. 21, 2017	Oct. 22, 2015
QuoteWizard \| Subsequent Event
Subsequent Event [Line Items]
Initial cash consideration to acquire business	$ 300,000,000
Contingent consideration	70,200,000
Cash used to fund acquisition	175,000,000
Revolving Credit Facility
Subsequent Event [Line Items]
Current borrowing capacity		$ 250,000,000.0	$ 125,000,000.0
Revolving Credit Facility \| Subsequent Event
Subsequent Event [Line Items]
Increase in borrowing capacity	100,000,000.0
Current borrowing capacity	350,000,000.0
Revolving Credit Facility \| QuoteWizard \| Subsequent Event
Subsequent Event [Line Items]
Proceeds from revolving credit facility used for acquisition	$ 125,000,000

GOODWILL AND INTANGIBLE ASSETS (Details - Goodwill and Indefinite-Lived Intangibles)	9 Months Ended
	Sep. 30, 2018 segment
Goodwill and Intangible Assets Disclosure [Abstract]
Number of reportable segments	1