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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2019	Feb. 18, 2020	Jun. 28, 2019
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	001-34063
Entity Registrant Name	LendingTree, Inc.
Entity Central Index Key	0001434621
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-2414818
Entity Address, Address Line One	11115 Rushmore Drive
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28277
City Area Code	704
Local Phone Number	541-5351
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 3,266
Documents Incorporated by Reference	Portions of the Registrant's proxy statement for its 2020 Annual Meeting of Stockholders are incorporated by reference into Part III herein. Such proxy statement will be filed with the U.S. Securities and Exchange Commission within 120 days of the Registrant's fiscal year ended December 31, 2019.
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	TREE
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		13,046,043

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Revenue	$ 1,106,603	$ 764,865	$ 617,736
Costs and expenses:
Cost of revenue (exclusive of depreciation and amortization shown separately below)	68,379	36,399	17,223
Selling and marketing expense	735,180	500,291	432,784
General and administrative expense	116,847	101,219	71,541
Product development	39,953	26,958	17,925
Depreciation	10,998	7,385	7,085
Amortization of intangibles	55,241	23,468	12,992
Change in fair value of contingent consideration	28,402	10,788	23,931
Severance	1,026	2,352	404
Litigation settlements and contingencies	(151)	(186)	718
Total costs and expenses	1,055,875	708,674	584,603
Operating income	50,728	56,191	33,133
Other (expense) income, net:
Interest expense, net	(20,271)	(12,437)	(7,028)
Other income (expense)	524	(10)	(396)
Income before income taxes	30,981	43,744	25,709
Income tax benefit (expense)	8,479	65,575	(6,291)
Net income from continuing operations	39,460	109,319	19,418
Loss from discontinued operations, net of tax	(21,632)	(12,820)	(3,840)
Net income	$ 17,828	$ 96,499	$ 15,578
Weighted average shares outstanding:
Weighted average basic common shares (in shares)	12,834	12,504	11,945
Weighted average diluted common shares (in shares)	14,619	14,097	13,682
Income per share from continuing operations:
Basic (in dollars per share)	$ 3.07	$ 8.74	$ 1.63
Diluted (in dollars per share)	2.70	7.75	1.42
Loss per share from discontinued operations:
Basic (in dollars per share)	(1.69)	(1.03)	(0.32)
Diluted (in dollars per share)	(1.48)	(0.91)	(0.28)
Net income per share:
Basic (in dollars per share)	1.39	7.72	1.30
Diluted (in dollars per share)	$ 1.22	$ 6.85	$ 1.14

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ASSETS:
Cash and cash equivalents	$ 60,243	$ 105,102
Restricted cash and cash equivalents	96	56
Accounts receivable (net of allowance of $1,466 and $1,143, respectively)	113,487	91,072
Prepaid and other current assets	15,516	16,428
Assets held for sale	0	21,328
Current assets of discontinued operations (Note 20)	84	185
Total current assets	189,426	234,171
Property and equipment (net of accumulated depreciation of $17,979 and $13,887, respectively)	31,363	23,175
Goodwill	420,139	348,347
Intangible assets, net	181,580	205,699
Deferred income tax assets	87,664	79,289
Other non-current assets	29,849	2,168
Non-current assets of discontinued operations (Note 20)	7,948	3,266
Total assets	947,969	896,115
LIABILITIES:
Revolving credit facility, outstanding amount	75,000	125,000
Accounts payable, trade	2,873	15,074
Accrued expenses and other current liabilities	112,755	93,190
Current contingent consideration	9,028	11,080
Current liabilities of discontinued operations (Note 20)	31,050	17,609
Total current liabilities	230,706	261,953
Long-term debt	264,391	250,943
Non-current contingent consideration	24,436	27,757
Deferred income tax liabilities	0	894
Other non-current liabilities	26,110	8,360
Total liabilities	545,643	549,907
Commitments and contingencies (Notes 15 and 16)
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; 15,676,819 and 15,428,351 shares issued, respectively, and 13,035,501 and 12,809,764 shares outstanding, respectively	157	154
Additional paid-in capital	1,177,984	1,134,227
Accumulated deficit	(592,654)	(610,482)
Treasury stock; 2,641,318 and 2,618,587 shares, respectively	(183,161)	(177,691)
Total shareholders' equity	402,326	346,208
Total liabilities and shareholders' equity	$ 947,969	$ 896,115

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 1,466	$ 1,143
Accumulated depreciation	$ 17,979	$ 13,887
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, Shares, Issued	15,676,819	15,428,351
Common stock, outstanding shares	13,035,501	12,809,764
Treasury Stock, Shares	2,641,318	2,618,587

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Comprehensive Income	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock	Noncontrolling Interest
Balance at Dec. 31, 2016	$ 231,435		$ 140	$ 1,018,010	$ (722,630)	$ (64,085)	$ 0
Balance (in shares) at Dec. 31, 2016			13,955,000			2,164,000
Increase (Decrease) in Stockholders' Equity
Net income and comprehensive income	15,578	$ 15,578			15,578
Non-cash compensation	23,361			23,361
Purchase of treasury stock	$ (21,000)					$ (21,000)
Purchase of treasury stock (in shares)	75,393					75,000
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	$ 1,601		$ 2	1,599
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes (in shares)			263,000
Noncontrolling Interest	589			0			589
Cumulative effect adjustment \| Accounting Standards Update 2016-09	985			2,287	(1,302)
Issuance of 0.625% Convertible Senior Notes, net	60,415			60,415
Convertible note hedge	(61,500)			(61,500)
Sale of warrants	43,410			43,410
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	96,499	96,499			96,499
Non-cash compensation	44,365			44,365
Purchase of treasury stock	$ (92,606)					$ (92,606)
Purchase of treasury stock (in shares)	379,449					379,000
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	$ 2,217		$ 12	2,205
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes (in shares)			1,210,000
Cumulative effect adjustment \| Accounting Standards Update 2014-09	1,373			0	1,373
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests	(510)			79			(589)
Stockholders' Equity, Other	(4)			(4)
Balance at Dec. 31, 2018	346,208		$ 154	1,134,227	(610,482)	$ (177,691)	0
Balance (in shares) at Dec. 31, 2018			15,428,000			2,618,000
Increase (Decrease) in Stockholders' Equity
Net income and comprehensive income	17,828	$ 17,828			17,828
Non-cash compensation	52,167			52,167
Purchase of treasury stock	$ (5,470)					$ (5,470)
Purchase of treasury stock (in shares)	22,731					23,000
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	$ (8,406)		$ 3	(8,409)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes (in shares)			249,000
Stockholders' Equity, Other	(1)			(1)	0
Balance at Dec. 31, 2019	$ 402,326		$ 157	$ 1,177,984	$ (592,654)	$ (183,161)	$ 0
Balance (in shares) at Dec. 31, 2019			15,677,000			2,641,000
Increase (Decrease) in Stockholders' Equity
Interest rate	0.625%

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities attributable to continuing operations:
Net income and comprehensive income	$ 17,828,000	$ 96,499,000	$ 15,578,000
Less: Loss from discontinued operations, net of tax	21,632,000	12,820,000	3,840,000
Net income from continuing operations	39,460,000	109,319,000	19,418,000
Adjustments to reconcile income from continuing operations to net cash provided by operating activities attributable to continuing operations:
(Gain) loss on impairments and disposal of assets	(695,000)	2,210,000	840,000
Amortization of intangibles	55,241,000	23,468,000	12,992,000
Depreciation	10,998,000	7,385,000	7,085,000
Rental amortization of intangibles and depreciation	0	630,000	1,474,000
Non-cash compensation expense	52,167,000	44,365,000	23,361,000
Deferred income taxes	(8,555,000)	(63,901,000)	(6,370,000)
Change in fair value of contingent consideration	28,402,000	10,788,000	23,931,000
Bad debt expense	1,697,000	880,000	195,000
Amortization of debt issuance costs	1,974,000	1,776,000	1,032,000
Write-off of previously-capitalized debt issuance costs	333,000	0	90,000
Amortization of convertible debt discount	12,016,000	11,397,000	6,385,000
ROU asset amortization, offset by change in operating lease liabilities	213,000	0	0
Changes in current assets and liabilities:
Accounts receivable	(22,457,000)	(16,820,000)	(11,381,000)
Prepaid and other current assets	(3,258,000)	(2,985,000)	(5,358,000)
Accounts payable, accrued expenses and other current liabilities	(2,322,000)	14,270,000	31,108,000
Current contingent consideration	(12,500,000)	(21,912,000)	0
Income taxes receivable	4,548,000	3,669,000	(1,104,000)
Other, net	(88,000)	(591,000)	(160,000)
Net cash provided by operating activities attributable to continuing operations	157,174,000	123,948,000	103,538,000
Cash flows from investing activities attributable to continuing operations:
Capital expenditures	(20,041,000)	(14,907,000)	(8,040,000)
Proceeds from the sale of fixed assets	24,077,000	0	0
Acquisition of intangible assets	0	0	(5,000)
Net cash used in investing activities attributable to continuing operations	(101,060,000)	(383,038,000)	(74,435,000)
Cash flows from financing activities attributable to continuing operations:
Payments related to net-share settlement of stock-based compensation, net of proceeds from exercise of stock options	(8,406,000)	2,217,000	1,602,000
Contingent consideration payments	(21,275,000)	(27,588,000)	0
Net (repayment of) proceeds from revolving credit facility	(50,000,000)	125,000,000	0
Acquisition of noncontrolling interest	$ 0	(499,000)	0
Interest rate	0.625%
Proceeds from the issuance of 0.625% Convertible Senior Notes	$ 0	0	300,000,000
Payment of convertible note hedge transactions	0	0	(61,500,000)
Proceeds from the sale of warrants	0	0	43,410,000
Payment of debt issuance costs	(2,518,000)	(583,000)	(10,486,000)
Purchase of treasury stock	(5,470,000)	(93,704,000)	(19,901,000)
Other financing activities	(9,000)	0	0
Net cash (used in) provided by financing activities attributable to continuing operations	(87,678,000)	4,843,000	253,125,000
Total cash (used in) provided by continuing operations	(31,564,000)	(254,247,000)	282,228,000
Discontinued operations:
Net cash used in operating activities attributable to discontinued operations	(13,255,000)	(13,236,000)	(4,807,000)
Total cash used in discontinued operations	(13,255,000)	(13,236,000)	(4,807,000)
Net (decrease) increase in cash, cash equivalents, restricted cash, and restricted cash equivalents	(44,819,000)	(267,483,000)	277,421,000
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period	105,158,000	372,641,000	95,220,000
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period	60,339,000	105,158,000	372,641,000
Supplemental Cash Flow Elements [Abstract]
Capital additions from tenant improvement allowance	1,111,000	0	0
Supplemental cash flow information:
Interest	7,005,000	3,593,000	1,327,000
Income tax payments	25,000	541,000	20,359,000
Income tax refunds	4,743,000	5,678,000	133,000
ValuePenguin
Cash flows from investing activities attributable to continuing operations:
Payments to acquire business, net of cash acquired	(105,578,000)	0	0
QuoteWizard
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	27,100,000	6,800,000
Cash flows from investing activities attributable to continuing operations:
Payments to acquire business, net of cash acquired	482,000	(297,072,000)	0
Student Loan Hero
Cash flows from investing activities attributable to continuing operations:
Payments to acquire business, net of cash acquired	0	(59,483,000)	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		1,600,000
Cash flows from investing activities attributable to continuing operations:
Payments to acquire business, net of cash acquired	0	(11,566,000)	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	2,200,000	(300,000)	700,000
Cash flows from investing activities attributable to continuing operations:
Payments to acquire businesses	0	(10,000)	(11,886,000)
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	(1,000,000.0)	2,000,000.0	2,000,000
Cash flows from investing activities attributable to continuing operations:
Payments to acquire businesses	0	0	(25,000,000)
MagnifyMoney
Cash flows from investing activities attributable to continuing operations:
Payments to acquire business, net of cash acquired	$ 0	$ 0	$ (29,504,000)

ORGANIZATION	12 Months Ended
ORGANIZATION	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Company Overview LendingTree, Inc. is currently the parent of LendingTree, LLC and several companies owned by LendingTree, LLC (collectively, "LendingTree" or the "Company"). LendingTree operates what it believes to be the leading online consumer platform that connects consumers with the choices they need to be confident in their financial decisions. 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, insurance quotes and other related offerings. The Company primarily seeks to match in-market consumers with multiple providers on its marketplace who can provide them with competing quotes for loans, deposit products, insurance or other related offerings they are seeking. The Company also serves as a valued partner to lenders and other providers seeking an efficient, scalable and flexible source of customer acquisition with directly measurable benefits, by matching the consumer inquiries it generates with these providers. The consolidated financial statements include the accounts of LendingTree and all its wholly-owned entities, except Home Loan Center, Inc. ("HLC") subsequent to its bankruptcy filing on July 21, 2019 which resulted in the Company's loss of a controlling interest in HLC under applicable accounting standards. Intercompany transactions and accounts have been eliminated. Discontinued Operations The LendingTree Loans business, which consisted of originating various consumer mortgage loans through HLC (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 20 —Discontinued Operations for additional information. Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). 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.

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

Revenue Recognition

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 considers customer expectations of performance, materiality and the core principles of Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers. 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 from Home products is primarily generated from upfront match fees paid by mortgage Network Partners 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 in the first quarter of 2018, 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.

Revenue from Consumer products is generated by match and other upfront fees for clicks or call transfers, as well as from closing fees, approval fees and upfront service and subscription 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.

Upfront service fees and subscription fees are derived from consumers in the Company's credit services product. 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.

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 records 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 varies across products, but is generally less than 90 days for auto loans, personal loans, student loans and credit card approvals. The time between satisfaction of the Company's performance obligation and when the Company's right to consideration becomes unconditional for small business loans is generally less than 27 months.

Revenue from the Company's Insurance products is primarily generated from upfront match fees, and upfront fees for website clicks or fees for calls. Match fees and upfront fees for clicks and call transfers are earned through the delivery of consumer requests that originated through the Company's websites or affiliates. The Company recognizes revenue at the time a consumer request is delivered to the customer, provided that no significant obligations remain. The Company's contractual right to the match fee consideration is contemporaneous with the satisfaction of the performance obligation to deliver a consumer request to the customer.

Our payment terms vary by customer and services offered. The term between invoicing and when payment is due is generally 45 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.

For additional information on the adoption of ASC Topic 606, see the discussion over ASU 2014-09 in the section titled "Recently Adopted Accounting Pronouncements" within this Note.

Cash and Cash Equivalents

Cash and cash equivalents include cash and short-term, highly liquid money market investments with original maturities of three months or less.

Restricted Cash

Cash escrowed or contractually restricted for a specific purpose is designated as restricted cash.

Accounts Receivable

Accounts receivable are stated at amounts due from customers, net of an allowance for doubtful accounts.

The Company determines its allowance for doubtful accounts by considering a number of factors, including the length of time accounts receivable are past due, previous loss history and the specific customer's current ability to pay its obligation. Accounts receivable are considered past due when they are outstanding longer than the contractual payment terms. Accounts receivable are written off when management deems them uncollectible.

A reconciliation of the beginning and ending balances of the allowance for doubtful accounts is as follows (in thousands):



	Year Ended December 31,
	2019			2018			2017
Balance, beginning of the period	$	1,143		$	675		$	1,059
Charges to earnings	1,697			880			195
Write-off of uncollectible accounts receivable	(1,374		)	(412		)	(579		)
Balance, end of the period	$	1,466		$	1,143		$	675

Segment Reporting

The Company has three reportable segments: Home, Consumer and Insurance. Characteristics which were relied upon in making the determination of the reportable segments include the nature of the products, the organization's internal structure, and the information that is regularly reviewed by the CODM for the purpose of assessing performance and allocating resources.

Property and Equipment

Property and equipment, including internally-developed software and significant improvements, are recorded at cost less accumulated depreciation. Due to the rapid advancements in technology and evolution of company products, all internally-developed software is written-off at the end of its useful life. Repairs and maintenance and any gains or losses on dispositions are recognized as incurred in current operations.

Depreciation is recorded on a straight-line basis to allocate the cost of depreciable assets to operations over their estimated service lives. The following table presents the estimated useful lives for each asset category:



Asset Category	Estimated Useful Lives
Computer equipment and capitalized software	1 to 5 years
Leasehold improvements	Lesser of asset life or life of lease
Furniture and other equipment	7 years
Aircraft and automobile	5 to 10 years

Software Development Costs

Software development costs primarily include internal and external labor expenses incurred to develop the software that powers the Company's websites. Certain costs incurred during the application development stage are capitalized based on specific activities tracked, while costs incurred during the preliminary project stage and post-implementation/operation stage are expensed as incurred. Capitalized software development costs are amortized over an estimated useful life of one to five years.

Goodwill and Indefinite-Lived Intangible Assets

Goodwill acquired in business combinations is assigned to the reporting units that are expected to benefit from the combination as of the acquisition date. Goodwill and indefinite-lived intangible assets, consisting of certain trade names and trademarks, are not amortized. Rather, these assets are tested annually for impairment as of October 1, or more frequently upon the occurrence of certain events or substantive changes in circumstances.

As part of its annual impairment testing of goodwill and indefinite-lived intangible assets, in each instance, the Company may elect to assess qualitative factors as a basis for determining whether it is necessary to perform the traditional quantitative impairment testing. If the Company’s assessment of these qualitative factors indicates that it is not more likely than not that the fair value of the reporting unit or indefinite-lived intangible asset is less than its carrying value, then no further testing is required. Otherwise, the goodwill reporting unit or long-lived intangible assets, as applicable, must be quantitatively tested for impairment.

The quantitative test for goodwill impairment is determined using a two-step process. The first step is to compare the fair value of a reporting unit with its carrying amount, including goodwill. In performing the first step, the Company determines the fair value of its reporting units by using a market approach and a discounted cash flow ("DCF") analysis. Determining fair value using a DCF analysis requires the exercise of significant judgments, including judgments about appropriate discount rates, perpetual growth rates and the amount and timing of expected future cash flows. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not impaired and the second step of the impairment test is not required. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is required to be performed to measure the amount of impairment, if any. The second step of the goodwill impairment test compares the implied fair value of the reporting unit's goodwill with the carrying amount of that goodwill. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. If the carrying amount of the reporting unit's goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess.

The quantitative impairment test for indefinite-lived intangible assets involves a comparison of the estimated fair value of the intangible asset with its carrying value. If the carrying value of the indefinite-lived intangible asset exceeds its estimated fair value, an impairment loss is recognized in an amount equal to that excess. The estimates of fair value of indefinite-lived intangible assets are determined using a DCF valuation analysis that employs a relief-from-royalty methodology in estimating the fair value of trade names and trademarks. Significant judgments inherent in this analysis include the determination of royalty rates, discount rates, perpetual growth rates and the amount and timing of future revenues.

At October 1, 2019, the Company performed the first step of the quantitative goodwill impairment test and found that the fair value of each reporting unit exceeded its carrying amount, indicating no goodwill impairment. The Company changed its operating segments in the fourth quarter of 2019 and accordingly changed its reporting units. At December 31, 2019, the Company performed the first step of the quantitative goodwill impairment test and found that the fair value of each reporting unit exceeded its carrying amount, indicating no goodwill impairment. Results of the October 1, 2019 qualitative annual impairment tests for the indefinite-lived intangible assets indicated that it is not more likely than not that the fair value of the assets were each less than their respective carrying values. Accordingly, no further testing was required.

Results of the October 1, 2018 qualitative annual impairment tests indicated that it is not more likely than not that the fair value of the goodwill and the indefinite-lived intangible assets were each less than their respective carrying values. Accordingly, no further testing was required.

Long-Lived Assets and Intangible Assets with Definite Lives

Long-lived assets include property and equipment, definite-lived intangible assets and operating lease right-of-use assets. Amortization of definite-lived intangible assets is recorded on a straight-line basis over their estimated lives.

Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If the carrying amount is deemed to not be recoverable, an impairment loss is recorded as the amount by which the carrying amount of the long-lived asset exceeds its fair value.

At December 31, 2019 and 2018, the Company performed its review of impairment triggering events for long-lived assets and determined that a triggering event had not occurred.

Assets and Liabilities Held for Sale

The Company classifies assets or disposal groups to be sold as held for sale in the period in which all of the following criteria are met:


•	Management, having the authority to approve the action, commits to a plan to sell the asset or disposal group;


•	The asset or disposal group is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets or disposal groups;


•	An active program to locate a buyer and other actions required to complete the plan to sell the asset or disposal group have been initiated;


•	The sale of the asset or disposal group is probable, and transfer of the asset or disposal group is expected to qualify for recognition as a completed sale within one year, except if events or circumstances beyond the Company's control extend the period of time required to sell the asset or disposal group beyond one year;


•	The asset or disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and


•	Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

A long-lived asset or disposal group that is classified as held for sale is initially measured at the lower of its carrying value or fair value less any costs to sell. Any loss resulting from this measurement is recognized in the period in which the held for sale criteria are met. Conversely, gains are not recognized on the sale of a long-lived asset or disposal group until the date of sale. The fair value of a long-lived asset or disposal group, less any costs to sell, is assessed each reporting period it remains classified as held for sale and any subsequent changes are reported as an adjustment to the carrying value of the asset or disposal group, as long as the new carrying value does not exceed the carrying value of the asset at the time it was initially classified as held for sale.

Fair Value Measurements

The Company categorizes its assets and liabilities measured at fair value into a fair value hierarchy that prioritizes the assumptions used in pricing the asset or liability into the following three levels:


•	Level 1: Observable inputs, such as quoted prices for identical assets and liabilities in active markets obtained from independent sources.


•	Level 2: Other inputs that are observable directly or indirectly, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and inputs that are derived principally from or corroborated by observable market data.


•	Level 3: Unobservable inputs for which there is little or no market data and which require the Company to develop its own assumptions, based on the best information available under the circumstances, about the assumptions market participants would use in pricing the asset or liability.

The Company's non-financial assets, such as goodwill, intangible assets and property and equipment are recorded at fair value upon acquisition. These assets are remeasured at fair value when there is an indicator of impairment and recorded at fair value only when an impairment charge is recognized. Such fair value measurements are based predominantly on Level 3 inputs.

Contingent consideration payments related to acquisitions are measured at fair value each reporting period using Level 3 unobservable inputs. The Company's estimates of fair value are based upon assumptions believed to be reasonable but which are uncertain and involve significant judgments by management. Any changes in the fair value of these contingent consideration payments are included in operating income in the consolidated statements of operations and comprehensive income.

Cost of Revenue

Cost of revenue consists primarily of expenses associated with compensation and other employee-related costs (including stock-based compensation) related to internally-operated customer call centers, third-party customer call center fees, costs for online advertising resold to third parties, credit scoring fees, credit card fees, website network hosting and server fees.

Product Development

Product development expense consists primarily of compensation and other employee-related costs (including stock-based compensation) and third-party labor costs that are not capitalized, for employees and consultants engaged in the design, development, testing and enhancement of technology.

Advertising

Advertising costs are expensed in the period incurred (except for production costs which are initially capitalized and then recognized as expense when the advertisement first runs) and principally represent offline costs, including television, print and radio advertising, and online advertising costs, including fees paid to search engines and distribution partners. Advertising expense was $688.2 million, $469.9 million and $410.8 million for the years ended December 31, 2019, 2018 and 2017, respectively, and is included in selling and marketing expense on the consolidated statements of operations and comprehensive income.

Income Taxes

Income taxes are accounted for under the liability method, and deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. In estimating future tax consequences, all expected future events are considered. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided on deferred tax assets if it is determined that it is more likely than not that the deferred tax asset will not be realized. Interest is recorded on potential tax contingencies as a component of income tax expense and recorded net of any applicable related income tax benefit. For the years ended December 31, 2019, 2018 and 2017, the Company followed the incremental or "with" and "without" approach to intraperiod tax allocation for determination of the amount of tax benefit to allocate to continuing operations as prescribed in ASC 740-20-45-7.

In accordance with the accounting standard for uncertainty in income taxes, liabilities for uncertain tax positions are recognized based on the two-step process prescribed by the accounting standards. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement.

Effective January 1, 2018, the Company changed the method used to estimate the deduction for prepaid marketing and advertising costs. This change in methodology impacts the timing of the tax deductibility of these related costs. The Company historically estimated these expenses to be deductible if the services were provided within 12 months of payment. Under the proposed method of accounting, the Company will take into account only prepaid marketing and advertising as the Company makes payment for the services to the extent that the payment is due and the services are reasonably expected by the Company to be provided to the applicant within 3 ½-months after the date of payment as authorized by Treas. Reg. §1.461-4(d)(6)(ii). The Company has accounted for this change as a change in accounting method and recorded a cumulative impact of $1.0 million as a deferred tax liability to be recognized over four years.

Effective January 1, 2017, the Company changed the method used to estimate the deduction for internally developed software. This change in methodology impacts the timing of the tax deductibility of these related costs. The Company historically capitalized these expenses and amortized them over three years. Under the proposed method of accounting, the Company will treat costs attributable to internally developed software as current expenses and take them into account in full in accordance with Section 5.01(1) of Rev. Proc. 2000-50 and rules similar to those applicable under Section 174(a). The Section 481(a) adjustment is the cumulative difference between the present method and the proposed method of accounting computed as of the first day of the year of change, January 1, 2017 and was reflected in the timely filed income tax return during 2018 related to the period of change.

On December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 ("SAB 118"), which provides guidance on accounting for the tax effect of the Tax Cuts and Jobs Act ("TCJA"). SAB 118 provides a measurement period that should not extend beyond one year from the TCJA enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the TCJA for which the accounting under ASC 740 is complete. To the extent that a company's accounting for certain income tax effects of the TCJA is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. In accordance with SAB 118, the Company determined that the $9.1 million of the deferred tax expense recorded in connection with the remeasurement of certain deferred tax assets and liabilities was a provisional amount and a reasonable estimate at December 31, 2017.

During the fourth quarter of the year ended December 31, 2018, the Company finalized the computations of the income tax effects of the Act. As such, in accordance with SAB 118, the Company's accounting for the effects of the Act is complete. The Company did not significantly adjust provisional amounts recorded in 2017 and the SAB 118 measurement period subsequently ended on December 22, 2018. Although the Company no longer considers these amounts to be provisional, the determination of the Act's income tax effects may change following future legislation or further interpretation of the Act based on future guidance from the Internal Revenue Service and state tax authorities.

Stock-Based Compensation

The forms of stock-based awards granted to LendingTree employees are principally restricted stock units ("RSUs"), RSUs with performance conditions, stock options and stock options with performance conditions. Further, stock options with market conditions, restricted stock awards ("RSAs") with performance conditions and RSAs with market conditions have been granted to the Company's Chairman and Chief Executive Officer. RSUs are awards in the form of units, denominated in a hypothetical equivalent number of shares of LendingTree common stock and with the value of each award equal to the fair value of LendingTree common stock at the date of grant. RSUs may be settled in cash, stock or both, as determined by the Company's Compensation Committee at the time of grant. The Company does not have a history of settling these awards in cash. Each stock-based award is subject to service-based vesting, where a specific period of continued employment must pass before an award vests. The Compensation Committee can modify the vesting provisions of an award. Certain awards also include performance-based vesting, where certain performance targets set at the time of grant must be achieved before an award vests.

LendingTree recognizes as expense non-cash compensation for all stock-based awards for which vesting is considered probable. Forfeitures are recognized when they occur.

For service-based awards, non-cash compensation is measured at fair value on the grant date and expensed ratably over the vesting term. The fair value of each stock option award without a market condition is estimated using the Black-Scholes option pricing model, while the fair value of an RSU or restricted stock award is measured as the closing common stock price at the time of grant. For performance-based grants, the fair value is measured on the grant date and recognized as non-cash compensation expense, considering the probability of the targets being achieved. Performance-based grants with a market condition are generally valued using a Monte Carlo simulation model.

Excess tax benefits and deficiencies that arise due to the difference in the measure of stock compensation and the amount deductible for tax purposes are recorded in income tax expense within the consolidated statement of operations and comprehensive income, and are classified as a component of operating cash flows within the consolidated statements of cash flows.

Litigation Settlements and Contingencies

Litigation settlements and contingencies consists of expenses related to actual or anticipated litigation settlements.

The Company is involved in legal proceedings on an ongoing basis. If the Company believes that a loss arising from such matters is probable and can be reasonably estimated, the estimated liability is accrued in the consolidated financial statements. If only a range of estimated losses can be determined, an amount within the range is accrued that, in the Company's judgment, reflects the most likely outcome; if none of the estimates within that range is a better estimate than any other amount, the low end of the range is accrued. For those proceedings in which an unfavorable outcome is reasonably possible but not probable, an estimate of the reasonably possible loss or range of losses or a conclusion that an estimate of the reasonably possible loss or range of losses arising directly from the proceeding (i.e., monetary damages or amounts paid in judgment or settlement) are not material is disclosed. Legal expenses associated with these matters are recognized as incurred.

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; HLC ownership related claims; 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 December 31, 2019, 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 requires certain Network Partners 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 marketplace.

For the year ended December 31, 2019, one network partner accounted for 12% of total consolidated revenue, all of which was recorded within the Insurance segment. No Network Partners accounted for more than 10% of total consolidated revenue for the year ended December 31, 2018. For the year ended December 31, 2017, another network partner accounted for 11% of total consolidated revenue, which was recorded within the Home and Consumer segments.

Lenders and lead purchasers 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 and lead purchasers 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 and other products from Network Partners without utilizing the Company's services, the Company's ability to generate revenue may be limited. Because the Company does not have exclusive relationships with the Network Partners whose loans and other financial products are offered on its online marketplace, consumers may obtain offers from these Network Partners without using its service.

Other than a support services office in India, the Company's operations are geographically limited to and dependent upon the economic condition of the United States.

Recently Adopted Accounting Pronouncements

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, and early adoption was 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. The Company adopted this ASU during the first quarter of 2018.

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. 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 outflows from investing activities to operating activities for 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. 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 8—Business Acquisitions for additional information.

In March 2016, the FASB issued ASU 2016-09 which simplifies various aspects related to how share-based payments are accounted for and presented in the financial statements, including the income tax consequences, classification of awards as either equity or liabilities, forfeitures and classification of excess tax benefits on the statement of cash flows. This ASU was effective for annual and interim reporting periods beginning after December 15, 2016. Upon adoption, any adjustments were to be reflected as of the beginning of the fiscal year of adoption. The Company adopted this ASU during the first quarter of 2017.

The new standard required excess tax benefits and deficiencies, which arise due to the difference in the measure of stock compensation and the amount deductible for tax purposes, to be recorded in earnings in income tax expense. These excess tax benefits and deficiencies were generally previously recorded in additional paid-in capital and had no impact on net income. The standard required prospective adoption for this portion of the new guidance. Additionally, the new standard required the excess tax benefits and deficiencies to be classified as an operating activity in the accompanying consolidated statements of cash flows. These excess tax benefits and deficiencies were previously recorded as a financing activity in the statement of cash flows. The standard allowed for either prospective or retrospective adoption for the change in presentation in the statement of cash flows. The Company elected to retrospectively adopt the classification change in the statement of cash flows. The standard also allows for an election by the Company to either estimate forfeitures, as required under previous guidance, or recognize forfeitures when they occur. The Company elected to recognize forfeitures of stock awards as they occur, with the modified retrospective transition method required. Accordingly, the Company recognized a $1.4 million cumulative-effect adjustment to retained earnings as of January 1, 2017.

In February 2016, the FASB issued ASU 2016-02 related to lease accounting guidance. This ASU introduces ASC Topic 842, Leases, which supersedes ASC Topic 840, Leases. In 2018 and 2019, the FASB issued final amendments clarifying 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, transition disclosures and certain other transition matters. The clarification ASUs also provided 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. The clarification ASUs must be adopted concurrently with the adoption of ASU 2016-02 (collectively, "ASC Topic 842").

The Company has adopted ASC Topic 842 as of January 1, 2019 using the optional transition method to apply the new requirements at the adoption date without restating comparative prior periods presented. The adoption resulted in the increase in total assets and total liabilities of $8.8 million as of January 1, 2019 related to operating leases greater than one year in duration for which the Company is the lessee, with no cumulative effect adjustment to the opening balance of accumulated deficit. As part of the transition, the Company has elected the package of practical expedients, which allows the Company to not reassess whether expired or existing contracts contain leases, lease classification for expired or existing leases, and initial direct costs for existing leases. Additionally, the Company has elected an accounting policy to not record short-term leases, which are leases with an initial term of twelve months or fewer, on the balance sheet.

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 Consumer products 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 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 2019 and 2018 is reported in the consolidated statements of operations and comprehensive income under ASC Topic 606. 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	)

Recently Issued Accounting Pronouncements

In December 2019, the Financial Accounting Standards Board ("FASB") issued ASU 2019-12, which simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC Topic 740, Income Taxes, and clarifies certain aspects of the current guidance to improve consistency among reporting entities. This ASU is effective for annual and interim reporting periods beginning after December 15, 2020. Early adoption is permitted, including adoption in interim periods. Entities electing early adoption must adopt all amendments in the same period. Most amendments must be applied prospectively while others are to be applied on a retrospective basis for all periods presented or a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year 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 2018-15, 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. The amendments should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company does not expect this ASU to have a material impact on its consolidated financial statements and will adopt ASU 2018-15 in the first quarter of 2020 using the prospective approach.

In August 2018, the FASB issued ASU 2018-13, which removes, modifies and adds certain disclosure requirements in ASC Topic 820, Fair Value Measurement. This ASU is effective for annual and interim reporting periods beginning after December 15, 2019. Certain amendments must be applied prospectively while others are to be applied on a retrospective basis to all periods presented. The Company will adopt ASU 2018-13 in the first quarter of 2020.

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. The Company will adopt ASU 2017-04 in the first quarter of 2020.

In June 2016, the FASB issued ASU 2016-13, which requires entities to measure expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU introduces ASC Topic 326, Financial Instruments—Credit Losses, which replaces the existing incurred loss model and is applicable to financial assets measured at amortized cost, including trade receivables and certain other financial assets that have the contractual right to receive cash. ASC Topic 326 is effective for annual and interim reporting periods beginning after December 15, 2019. The guidance must be adopted using a modified retrospective transition. The adoption of ASC Topic 326 is not expected to have a material effect on the Company's consolidated financial statements. The Company will adopt ASC Topic 326 as of January 1, 2020, and does not expect a material cumulative effect adjustment to the opening balance of accumulated deficit in the period of adoption.

REVENUE

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

REVENUE

Revenue is as follows (in thousands):



	Year Ended December 31,
	2019		2018		2017
Revenue:
Home	$	277,935	$	319,176	$	340,377
Credit cards	211,294		165,776		147,028
Personal loans	152,729		134,199		88,244
Other Consumer	151,014		95,640		40,819
Consumer	515,037		395,615		276,091
Insurance	284,792		31,369		136
Other	28,839		18,705		1,132
Total revenue	$	1,106,603	$	764,865	$	617,736

The contract asset recorded within prepaid and other current assets on the consolidated balance sheets related to estimated variable consideration in the Company's Consumer business was $6.5 million and $4.8 million on December 31, 2019 and 2018, respectively.

The contract liability recorded within accrued expenses and other current liabilities on the consolidated balance sheets related to upfront fees paid by consumers in the Company's Consumer business was $0.6 million and $0.4 million at December 31, 2019 and 2018, respectively. During 2019, the Company recognized revenue of $0.4 million that was included in the contract liability balance at December 31, 2018.

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 increases to such revenue from prior periods of $4.4 million and $0.7 million in 2019 and 2018, respectively.

CASH AND RESTRICTED CASH

12 Months Ended

Dec. 31, 2019

Cash and Cash Equivalents [Abstract]

CASH AND RESTRICTED CASH

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



	December 31, 2019		December 31, 2018
Cash and cash equivalents	$	60,243	$	105,102
Restricted cash and cash equivalents	96		56
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$	60,339	$	105,158

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

The balance of property and equipment, net is as follows (in thousands):



	December 31, 2019			December 31, 2018
Computer equipment and capitalized software	$	28,425		$	22,847
Leasehold improvements	7,751			4,651
Furniture and other equipment	3,993			1,935
Aircraft and automobile	2,621			2,621
Projects in progress	6,552			5,008
Total gross property and equipment	49,342			37,062
Accumulated depreciation	(17,979		)	(13,887		)
Total property and equipment, net	$	31,363		$	23,175

See Note 7—Assets Held for Sale for property and equipment classified as held for sale during 2018, which were sold to an unrelated third party in 2019.

Unamortized capitalized software development costs, in service or under development, are $19.9 million and $16.2 million at December 31, 2019 and 2018, respectively. Capitalized software development depreciation expense was $8.6 million, $6.1 million and $5.7 million for the years ended December 31, 2019, 2018 and 2017, respectively.

Long-lived assets located outside the United States, the Company's country of domicile, were $0.1 million at each of December 31, 2019 and 2018.

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2019

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	11,260		—			11,260
Acquisition of Student Loan Hero	40,856		—			40,856
Acquisition of QuoteWizard	182,863		—			182,863
Balance at December 31, 2018	$	831,435	$	(483,088	)	$	348,347
Acquisition of Ovation	20		—			20
Acquisition of QuoteWizard	33		—			33
Acquisition of ValuePenguin	71,739		—			71,739
Balance at December 31, 2019	$	903,227	$	(483,088	)	$	420,139

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



	December 31, 2019		December 31, 2018
Intangible assets with indefinite lives	$	10,142	$	10,142
Intangible assets with definite lives, net	171,438		195,557
Total intangible assets, net	$	181,580	$	205,699

Goodwill and Indefinite-Lived Intangible Assets

The Company's goodwill at December 31, 2019 consists of $59.3 million associated with the Home segment, $166.1 million associated with the Consumer segment, and $194.7 million associated with the Insurance segment. Prior to the fourth quarter of 2019, the Company's goodwill was associated with its then one reportable segment. The carrying amount of goodwill increased during the year ended December 31, 2019 primarily due to the acquisition of ValuePenguin and increased during the year ended December 31, 2018 due to the acquisitions of Ovation, Student Loan Hero, and QuoteWizard. See Note 8—Business Acquisitions for a discussion of the acquisitions and associated goodwill. Results of the annual impairment test as of October 1, 2019 indicated that no impairment had occurred.

Intangible assets with indefinite lives relate to the Company's trademarks. Results of the annual impairment test as of October 1, 2019 indicated that no impairment had occurred.

Intangible Assets with Definite Lives

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



	Weighted Average Amortization Life	Cost		Accumulated Amortization			Net
Technology	4.2 years	$	116,200	$	(48,938	)	$	67,262
Customer lists	13.2 years	77,300		(12,452		)	64,848
Trademarks and tradenames	4.9 years	17,200		(6,407		)	10,793
Website content	3.0 years	51,000		(22,467		)	28,533
Other	3.0 years	5		(3		)	2
Balance at December 31, 2019		$	261,705	$	(90,267	)	$	171,438



	Weighted Average Amortization Life	Cost		Accumulated Amortization			Net
Technology	4.2 years	$	112,400	$	(21,022	)	$	91,378
Customer lists	12.9 years	80,200		(7,746		)	72,454
Trademarks and tradenames	4.7 years	16,742		(3,730		)	13,012
Website content	3.0 years	24,900		(6,192		)	18,708
Other	3.0 years	256		(251		)	5
Balance at December 31, 2018		$	234,498	$	(38,941	)	$	195,557

See Note 7—Assets Held for Sale for tenant leases classified as held for sale during 2018, which were sold to an unrelated third party in 2019.

Amortization of intangible assets with definite lives is computed on a straight-line basis and, based on balances as of December 31, 2019, future amortization is estimated to be as follows (in thousands):



	Amortization Expense
Year ending December 31, 2020	$	53,078
Year ending December 31, 2021	42,738
Year ending December 31, 2022	25,256
Year ending December 31, 2023	8,602
Year ending December 31, 2024	6,747
Thereafter	35,017
Total intangible assets with definite lives, net	$	171,438

See Note 8—Business Acquisitions for a discussion of the 2019 and 2018 acquisitions and associated intangibles.

ASSETS HELD FOR SALE

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

ASSETS HELD FOR SALE

In December 2016, the Company acquired two office buildings in Charlotte, North Carolina for $23.5 million in cash, which included $0.1 million in acquisition-related costs which were capitalized. The buildings were acquired with the intent to use such buildings as the Company's corporate headquarters and rent any unused space.

In November 2018, the Company's Board of Directors approved a plan to sell the two office buildings. The properties were classified as current assets held for sale in the consolidated balance sheet for December 31, 2018. The Company sold these buildings to an unrelated third party in the second quarter of 2019 for a sale price of $24.4 million, and the Company incurred closing fees of $0.3 million. The Company recognized a gain of $2.7 million on the sale within general and administrative expense in the consolidated statement of operations and comprehensive income. At the time the buildings were classified as held for sale, and at time of sale, they were associated with the Company's then one reportable segment.

Property and equipment classified as held for sale at December 31, 2018 is as follows (in thousands):



	Amount
Land	$	5,818
Building	14,984
Site improvements	950
Computer equipment and capitalized software	166
Furniture and other equipment	145
Total gross property and equipment	22,063
Accumulated depreciation	(1,278		)
Total property and equipment, net	$	20,785

Intangible assets classified as held for sale at December 31, 2018 is as follows (in thousands):



	Amount
Tenant leases	$	961
Total gross intangible assets	961
Accumulated amortization	(468		)
Total intangible assets, net	$	493

DISCONTINUED OPERATIONS

The LendingTree Loans Business is presented as discontinued operations in the accompanying financial statements. The LendingTree Loans Business originated various consumer mortgage loans through HLC. On June 6, 2012, the Company sold substantially all of the operating assets of HLC, including the 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 HLC 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 purchase agreement with Discover for certain loan loss obligations that remained with HLC following the sale. During 2018, the remaining funds in escrow were released to HLC in accordance with the terms of the purchase agreement with Discover.

Upon closing of the sale of substantially all of the operating assets of HLC on June 6, 2012, HLC ceased to originate consumer loans. Liability for losses on previously sold loans remains with HLC and is discussed below.

Litigation settlements and contingencies and legal fees associated with ongoing related bankruptcy and legal proceedings against the Company are included in discontinued operations in the accompanying financial statements.

Home Loan Center, Inc. Bankruptcy Filing

On June 21, 2019, the U.S. District Court of Minnesota entered judgment in ResCap Liquidating Trust v. Home Loan Center, Inc., against HLC for $68.5 million, see Litigation Related to Discontinued Operations below. The judgment against HLC exceeded the assets of HLC, which were $11.2 million at July 21, 2019, including cash of $5.9 million. On July 19, 2019, HLC appealed the judgment to the United States Court of Appeals for the Eighth Circuit.

On July 21, 2019, at the direction of the sole independent director of HLC, HLC voluntarily filed a petition under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) with the U.S. Bankruptcy Court in the Northern District of California in San Jose, California (the “Bankruptcy Court”) in order to preserve assets for the benefit of all creditors of HLC. On September 16, 2019, the Bankruptcy Court converted the bankruptcy to Chapter 7 of the Bankruptcy Code and appointed a Trustee to liquidate HLC’s assets.

HLC’s filing under the Bankruptcy Code creates an automatic stay of enforcement of the judgment entered against HLC by the Minnesota court in ResCap Liquidating Trust v. Home Loan Center, Inc. described above and in Litigation Related to Discontinued Operations below. As a result of the voluntary petition, LendingTree, LLC was, as of the initial July 21, 2019 bankruptcy petition filing date, no longer deemed to have a controlling interest in HLC under applicable accounting standards. As a result, HLC and its consolidated subsidiary were deconsolidated from the Company’s consolidated financial statements as of July 21, 2019. The effect of such deconsolidation was the elimination of the consolidated assets and liabilities of HLC (and its consolidated subsidiary) from the Company’s consolidated balance sheets. Upon deconsolidation, in 2019 the Company recognized a loss of $5.5 million which includes a net gain of $4.5 million related to the removal of HLC's (and its consolidated subsidiary's) assets and liabilities and the recognition of a liability of $10.0 million related to LendingTree LLC's ownership in HLC. No consideration was received by the Company as a result of the deconsolidation. The derecognition of HLC’s cash of $5.9 million removed from the consolidated balance sheet on the deconsolidation date of July 21, 2019 is included within cash flows from operating activities attributable to discontinued operations in the accompanying consolidated statement of cash flows.

HLC has indicated that it believes that it has claims against HLC’s sole shareholder, LendingTree, LLC, and certain of its officers and directors, relating to the declaration of a dividend by HLC in January 2016 of $40.0 million. The Company is obligated to advance any expenses to the officers and directors related to these claims and to indemnify them to the maximum extent permitted by law. LendingTree, LLC believes the declaration of the dividend was proper, that the amounts paid to LendingTree, LLC following such declaration are not subject to recovery by HLC and that any claims by HLC relating to such dividend declaration are without merit. LendingTree, LLC intends to vigorously contest such claims. During the third quarter of 2019, LendingTree, LLC made a settlement offer to HLC after it filed for bankruptcy for $31.0 million for the release of any and all claims against the Company, including the dividend claim. LendingTree estimates the range of potential losses related to the dividend matter to be $0.0 million to $40.0 million plus a potential award of prejudgment interest. An estimated liability of $31.0 million is included in the accompanying consolidated balance sheet as of December 31, 2019 related to LendingTree LLC's ownership in HLC. HLC’s voluntary petition under the Bankruptcy Code does not represent an event of default under LendingTree, LLC’s Second Amended and Restated Credit Agreement dated as of December 10, 2019 or the Company’s indenture dated May 31, 2017 with respect to the Company’s 0.625% Convertible Senior Notes due 2022.

Loan Loss Obligations

Prior to the sale of its LendingTree Loans Business on June 6, 2012, HLC sold loans it originated through its LendingTree Loans Business to investors on a servicing-released basis, so the risk of loss or default by the borrower was generally transferred to the investor. However, HLC 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. If underwriting deficiencies, borrower fraud or documentation defects, arising prior to the sale of the loan by HLC to such investor, are discovered in individual loans, HLC may be obligated to repurchase the respective loan or indemnify such investor for any losses from borrower defaults if such deficiency or defect cannot be cured within the contractually specified period following discovery.

HLC continues to be liable for these indemnification obligations, repurchase obligations and premium repayment obligations following the sale of substantially all of its operating assets, including the LendingTree Loans Business, in the second quarter of 2012. The liability for losses on previously sold loans was presented as current liabilities of discontinued operations in the accompanying consolidated balance sheet as of December 31, 2018.

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

Litigation Related to Discontinued Operations

Residential Funding Company

ResCap Liquidating Trust v. Home Loan Center, Inc., Case No. 14-cv-1716 (U.S. Dist. Ct., Minn.), successor to 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 original captioned matter, which involves claims of Residential Funding Company, LLC ("RFC") for damages for breach of contract and indemnification for certain residential mortgage loans as well as residential mortgage-backed securitizations ("RMBS") containing mortgage loans. RFC asserted 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 alleged 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 HLC, in federal and state courts in Minnesota and New York. In each case, plaintiff claimed that the defendant is liable for a portion of the global settlement in RFC’s bankruptcy.

Plaintiff asserted 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; and (2) contractual indemnification for alleged liabilities, losses, and damages incurred by RFC arising out of purported defects in loans that RFC purchased from HLC and sold to third parties. Plaintiff alleged 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.” Plaintiff sought damages of up to $61.0 million plus attorney's fees and prejudgment interest.

HLC denied the material allegations of the complaint and asserted numerous defenses thereto. The matter went to trial in the fourth quarter of 2018 and the jury returned a verdict of $28.7 million in favor of plaintiff. On June 21, 2019, the U.S. District Court in Minnesota entered judgment against HLC for $68.5 million. The judgment is comprised of: (i) $28.7 million in damages awarded by the jury; (ii) $14.1 million in pre-verdict interest; (iii) $23.1 million in attorneys' fees and costs, and (iv) $2.6 million in post-verdict, prejudgment interest.

HLC’s filing under the Bankruptcy Code discussed above in Home Loan Center, Inc. Bankruptcy Filing creates an automatic stay of enforcement of the judgment entered against HLC by the U.S. District Court in Minnesota. On August 27, 2019, plaintiff filed a lawsuit captioned ResCap Liquidating Trust v. LendingTree, LCC, et al., Case No. 19-cv-2360 (U.S. Dist. Ct., Minn.), seeking to hold the Company liable for the judgment against HLC, under assumption of liability, agency and alter ego theories. The Company believes that these claims lack merit and intends to defend this action vigorously. On October 17, 2019, the Company filed a motion to dismiss the liability and agency claims, and oral arguments with respect to such motion were held on January 10, 2020.

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 HLC and approximately 149 other defendants (the "Complaint"). In December 2018, LBHI amended its complaint against HLC. The amended complaint references approximately 370 allegedly defective mortgage loans sold by HLC with purported "Claim Amounts" totaling $40.2 million. LBHI alleges it settled all such claims and is seeking indemnification from HLC for LBHI’s purported losses and liabilities associated with such settlements, plus prejudgment interest, attorneys’ fees, litigation costs and other expenses. The amended complaint does not specify the amount of LBHI’s purported damages. On December 4, 2019, LBHI filed a $44.7 million proof of claim in HLC’s bankruptcy seeking recovery for the claims asserted in the lawsuit. The Company believes that these claims lack merit and understands that HLC intends to defend this action vigorously. HLC’s filing under the Bankruptcy Code discussed above in Home Loan Center, Inc. Bankruptcy Filing creates an automatic stay of this proceeding.

Financial Information of Discontinued Operations

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



	Year Ended December 31,
	2019			2018			2017
Revenue	$	—		$	—		$	(750	)

Gain from removal of HLC's assets and liabilities	4,515			—			—
Other operating expenses	(35,002		)	(16,228		)	(5,159		)
Loss before income taxes	(30,487		)	(16,228		)	(5,909		)
Income tax benefit	8,855			3,408			2,069
Net loss	$	(21,632	)	$	(12,820	)	$	(3,840	)

Losses from discontinued operations included all activity of HLC prior to bankruptcy, including litigation settlements, contingencies and legal fees associated with legal proceedings, as well as a gain upon deconsolidation due to the accounting effect of HLC’s bankruptcy filing on the consolidated financial statements.

The results of discontinued operations also include litigation settlements and contingencies and legal fees associated with ongoing legal proceedings against LendingTree Inc. or LendingTree LLC that arose due to the LendingTree Loans Business or the HLC bankruptcy filing.

BUSINESS ACQUISITIONS

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

BUSINESS ACQUISITIONS

2019 Acquisition

ValuePenguin

On January 10, 2019, the Company acquired Value Holding, Inc., the parent company of ValuePenguin Inc. ("ValuePenguin"), a personal finance website that offers consumers objective analysis on a variety of financial topics from insurance to credit cards. The Company made an upfront cash payment of $106.1 million at the closing of the transaction, funded through $90.0 million drawn on the Company's revolving credit facility and the balance using cash on hand. The purchase price of $106.2 million is comprised of the upfront cash payment of $106.1 million and a $0.1 million post-closing payment for working capital settlement.

The acquisition has been accounted for as a business combination. In 2019, the Company completed the determination of the final allocation of purchase price to the assets acquired and liabilities assumed as follows (in thousands):



	Fair Value
Net working capital	$	2,502
Fixed assets	68
Intangible assets	31,600
Goodwill	71,739
Net noncurrent assets	323
Total purchase price	$	106,232

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 developed technology, content and trademarks and tradenames. The estimated fair values of the developed technology were determined using the cost replacement method, the content was determined using the excess earnings method, and the trademarks and tradenames were determined using the relief from royalty method. The estimated fair value of the intangible assets are based on estimates for content lifecycles, estimates for revenue growth rates, estimates for future cash flows, the probability weighting of scenarios and discount rates, known at the acquisition date, which management believes are reasonable. The fair value of the intangible assets with definite lives is as follows (dollars in thousands):



	Fair Value		Weighted Average Amortization Life
Technology	$	4,200	3 years
Content	26,100		3 years
Trademarks and tradenames	1,300		5 years
Total intangible assets	$	31,600	3.1 years

The Company recorded goodwill of $71.7 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 ValuePenguin as a going concern, which represents the ability of the Company to earn a higher return on the collection of assets and business of ValuePenguin 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 was recorded in the Company’s then one reportable segment. For income tax purposes, the Company accounted for the acquisition as an asset purchase which would indicate the goodwill will be tax deductible.

Subsequent to the acquisition date, the Company’s consolidated results of operations include the results of the acquired ValuePenguin business. In 2019, the Company’s consolidated results of operations include revenue of $19.8 million attributable to the ValuePenguin business. In the first six months of 2019, net income from continuing operations attributable to the ValuePenguin business was $3.1 million. Due to the integration of the ValuePenguin business subsequent to the acquisition, earnings of the acquired ValuePenguin business beginning in the third quarter of 2019 is impracticable to determine with sufficient accuracy. Acquisition-related costs were $0.1 million in 2019 and are included in general and administrative expense on the consolidated statement of operations and comprehensive income.

2018 Acquisitions

QuoteWizard

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. 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 Company paid $299.9 million in initial cash consideration, funded through $174.9 million of cash on hand and $125.0 million drawn on the Company's revolving credit facility, and could make up to three additional earnout payments, each ranging

from zero to $23.4 million, based on certain defined operating results during the earnout periods November 1, 2018 through October 31, 2019, November 1, 2019 through October 31, 2020, and November 1, 2020 through October 31, 2021. These additional payments, to the extent earned, will be payable in cash. The purchase price of $313.4 million is comprised of the upfront cash payment of $299.9 million, $13.9 million for the estimated fair value of the earnout payments, and a $0.4 million post-closing receipt for working capital settlement.

In the fourth quarter of 2019, the Company paid $23.4 million related to the earnout payment for the period of November 1, 2018 through October 31, 2019, of which $13.9 million is included within cash flows from financing activities and $9.5 million is included within cash flows from operating activities on the consolidated statement of cash flows.

As of December 31, 2019, the estimated fair value of the contingent consideration totaled $24.4 million, which 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 2019 and 2018, the Company recorded $27.1 million and $6.8 million, respectively, of contingent consideration expense in the consolidated statements of operations and comprehensive income due to the change in estimated fair value of the contingent consideration.



	Fair Value
Net working capital	$	8,521
Fixed assets	1,509
Intangible assets	120,400
Goodwill	182,896
Other noncurrent assets	29
Total purchase price	$	313,355

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



	Fair Value		Weighted Average Amortization Life
Technology	$	68,900	4 years
Customer lists	42,700		14.7 years
Content	1,000		3 years
Trademarks and tradenames	7,800		5 years
Total intangible assets	$	120,400	7.9 years

The Company recorded goodwill of $182.9 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 QuoteWizard as a going concern, which represents the ability of the Company to earn a higher return on the collection of assets and business of QuoteWizard 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 was recorded in the Company’s then one reportable segment. For income tax

purposes, the acquisition was an asset purchase and the goodwill will be tax deductible. Acquisition-related costs were $4.8 million in 2018 and are included in general and administrative expense on the consolidated statement of operations and comprehensive income.

The unaudited pro forma financial results for the years ended December 31, 2018 and 2017 below combine the consolidated results of the Company and QuoteWizard, giving effect to the acquisition as if it 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 acquisition been completed as of January 1, 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, as well as changes in depreciation expense associated with the change in fair value of the property, plant and equipment recorded in relation to the acquisition. Interest expense was adjusted to eliminate historical interest associated with QuoteWizard's revolving credit facility and notes payable that were not assumed with the acquisition, as well as reflect incremental interest expense associated with debt issued to finance the acquisition. The provision for income taxes from continuing operations has also been adjusted to reflect taxes on the historical results of operations of QuoteWizard. QuoteWizard did not pay taxes at the entity level as it was a limited liability company whose members elected for it to be taxed as a partnership.



	2018		2017
	(in thousands)
Pro forma revenue	$	900,978	$	701,184
Pro forma net income from continuing operations	$	110,015	$	1,164

The unaudited pro forma net income from continuing operations in 2018 includes the aggregate after-tax contingent consideration expense associated with the QuoteWizard earnout of $4.9 million. The unaudited pro forma net income from continuing operations for 2017 has been adjusted to include acquisition-related costs of $5.9 million incurred by the Company and QuoteWizard that are directly attributable to the acquisition, 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 2018.

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 purchase price of $60.4 million is comprised of the upfront cash payment of $60.7 million less the $2.3 million recognized as severance expense, and a $2.0 million post-closing payment for working capital settlement.

The acquisition has been accounted for as a business combination. During 2018, the Company completed the determination of the final allocation of purchase price to the assets acquired and liabilities assumed as follows (in thousands):



	Fair Value
Net working capital	$	5,429
Intangible assets	19,600
Goodwill	40,856
Deferred tax liabilities	(5,467		)
Total purchase price	$	60,418

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 the excess earnings method, the customer relationships were determined using the distributor method and the trademarks and tradenames were determined using the relief from royalty method. The fair value of the intangible assets with definite lives is as follows (dollars in thousands):



	Fair Value		Weighted Average Amortization Life
Content	$	16,100	3 years
Customer lists	2,500		10 years
Trademarks and tradenames	1,000		5 years
Total intangible assets	$	19,600	4.0 years

The Company recorded goodwill of $40.9 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 was recorded in the Company’s then 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 $0.5 million in 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 $4.4 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 receipt for working capital settlement.

In the fourth quarter of 2019, the Company paid $4.4 million related to the earnout payment for the period of July 1, 2018 through June 30, 2019, which is included within cash flows from financing activities on the consolidated statement of cash flows.

As of December 31, 2019, the estimated fair value of the contingent consideration totaled $3.1 million, which is included in 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 2018, the Company recorded $1.6 million of contingent consideration expense in the consolidated statements of operations and comprehensive income due to the change in estimated fair value of the contingent consideration.



	Fair Value
Net working capital	$	303
Fixed assets	76
Intangible assets	8,900
Goodwill	11,280
Net deferred tax liabilities	(2,688		)
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 the excess earnings method, the customer relationships were determined using the cost savings method and the trademarks and tradenames were determined using the relief from royalty method. The fair value of the intangible assets with definite lives is 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 Company recorded 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 was recorded in the Company’s then 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 $0.4 million in 2018 and are included in general and administrative expense on the consolidated statement of operations and comprehensive income.

2017 Acquisitions

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 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.

In the first quarter of 2019, the Company paid $3.0 million related to the earnout payment for the period of October 1, 2017 through September 30, 2018, which is included within cash flows from financing activities on the consolidated statement of cash

flows. In January 2020, the Company paid $3.0 million related to the earnout payment for the period of October 1, 2018 through September 30, 2019.

As of December 31, 2019, the estimated fair value of the contingent consideration totaled $5.9 million, which is included in 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 2019, 2018 and 2017, the Company recorded contingent consideration expense of $2.2 million, a gain of $0.3 million and expense of $0.7 million, respectively, in the consolidated statements 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. During 2017, the Company completed the determination of the final allocation of purchase price to the assets acquired and liabilities assumed as follows (in thousands):



	Fair Value
Net working capital and other assets	$	42
Fixed assets	146
Intangible assets	4,300
Goodwill	13,738
Total purchase price	$	18,226

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



	Fair Value		Weighted Average Amortization Life
Technology	$	400	3 years
Customer lists	3,300		10 years
Trade name and trademarks	600		5 years
Total intangible assets	$	4,300	8.7 years

The Company recorded goodwill of $13.7 million, which represents the excess of the purchase price over the estimated fair value of the intangible assets acquired. The goodwill is primarily attributable to SnapCap as a going concern which represents the ability of the Company to earn a higher return on the collection of assets and business of SnapCap than if those assets were to be acquired and managed separately. The benefit of access to the workforce is an additional element of goodwill. The goodwill was recorded in the Company’s then one reportable segment. For income tax purposes, the acquisition was an asset purchase and the goodwill will be tax deductible. Acquisition-related costs were $0.3 million in 2017 and are included in general and administrative expense on the consolidated statement of operations and comprehensive income.

MagnifyMoney

On June 20, 2017, the Company acquired the membership interests of Camino Del Avion (Delaware), LLC, which does business under the name MagnifyMoney (“MagnifyMoney”) for $29.6 million cash consideration at the closing of the transaction. Camino del Avion (Delaware), LLC was immediately merged with and into LendingTree, LLC following such acquisition. MagnifyMoney is a leading consumer-facing media property that offers editorial content, expert commentary, tools and resources to help consumers compare financial products and make informed financial decisions. The Company also acquired an option to purchase an affiliate in India, which provides technology and research support to MagnifyMoney under a services agreement, for

an estimated fair value of $0.5 million at any time during the three years after the closing. This purchase option was exercised on December 31, 2018.

In addition, the Company issued two key employees of MagnifyMoney restricted stock unit awards for a total of 38,468 shares of Company common stock. In connection with the terms of the purchase option described above, the Company issued a further restricted stock unit award for 19,234 shares to a key employee of technology and research operations in India upon the exercise of the purchase option. The total value of these restricted stock unit awards was $10.0 million on June 20, 2017. Vesting of these restricted stock units was contingent on the basis of performance conditions following the acquisition.



	Fair Value
Net working capital	$	921
Intangible assets	9,700
Goodwill	23,784
Deferred tax liabilities	(4,176		)
Noncontrolling interest	(637		)
Total purchase price	$	29,592

The acquired intangible assets are definite-lived assets consisting primarily of content, developed technology, customer relationships and trade name and trademarks. The estimated fair values of the content was determined using the excess earnings method, developed technology was determined using the cost savings method, the customer relationships were determined using the distributor method and the trade name and trademarks were determined using the relief from royalty method.

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



	Fair Value		Weighted Average Amortization Life
Technology	$	200	3 years
Customer lists	1,100		9 years
Trade name and trademarks	600		4 years
Content	7,800		3 years
Total intangible assets	$	9,700	3.7 years

The Company recorded goodwill of $23.8 million, which represents the excess of the purchase price over the estimated fair value of the tangible and intangible assets acquired, net of the liabilities assumed. The goodwill is primarily attributable to MagnifyMoney as a going concern which represents the ability of the Company to earn a higher return on the collection of assets and business of MagnifyMoney than if those assets were to be acquired and managed separately. The benefit of access to the workforce is an additional element of goodwill. The goodwill was recorded in the Company’s then 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 $0.4 million in 2017 and are included in general and administrative expense on the consolidated statement of operations and comprehensive income.

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 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 four quarters of 2018, the Company paid $1.0 million associated with specified increases in the Federal Funds rate in December 2017, March 2018, June 2018 and September 2018, respectively, which are included within cash flows from financing activities on the consolidated statement of cash flows, except for an immaterial portion of the fourth quarter payment included within cash flows from operating activities. In the first quarter of 2019, the Company paid $1.0 million associated with a specified increase in the Federal Funds rate in December 2018. In the second quarter of 2019, the Company paid $2.0 million associated with the one-time performance payment based on the net revenue of deposit products during the period of January 1, 2018 through December 31, 2018. The contingent consideration paid in 2019 is included within cash flows from operating activities on the consolidated statement of cash flows.

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 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. As of December 31, 2019, no liability has been recorded in the accompanying consolidated balance sheet for the remaining contingent consideration payment based on Federal Funds interest rates. Accordingly, during 2019 the Company recorded a gain of $1.0 million in the consolidated statement of operations and comprehensive income due to the change in estimated fair value of the contingent consideration. During each of 2018 and 2017, the Company recorded $2.0 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.



	Fair Value
Intangible assets	$	9,600
Goodwill	19,389
Total purchase price	$	28,989

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



	Fair Value		Weighted Average Amortization Life
Technology	$	8,600	5 years
Customer lists	600		8 years
Trade name and trademarks	400		4 years
Total intangible assets	$	9,600	5.2 years

The Company recorded goodwill of $19.4 million, which represents the excess of the purchase price over the estimated fair value of the intangible assets acquired. The goodwill is primarily attributable to DepositAccounts as a going concern which represents the ability of the Company to earn a higher return on the collection of assets and business of DepositAccounts than if those assets were to be acquired and managed separately. The benefit of access to the workforce is an additional element of goodwill. The goodwill was recorded in the Company’s then one reportable segment. For income tax purposes, the acquisition was an asset purchase and the goodwill will be tax deductible. Acquisition-related costs were $0.3 million in 2017 and are included in general and administrative expense on the consolidated statement of operations and comprehensive income.

Pro forma Financial Results

The unaudited pro forma financial results for the years ended December 31, 2019, 2018 and 2017 combine the consolidated results of the Company and DepositAccounts, MagnifyMoney, SnapCap, Ovation, Student Loan Hero, QuoteWizard and ValuePenguin, giving effect to the acquisitions as if the DepositAccounts, MagnifyMoney and SnapCap acquisitions had been completed on January 1, 2016, as if the Ovation, Student Loan Hero and QuoteWizard acquisitions had been completed on January 1, 2017, and as if the ValuePenguin acquisition had been completed on January 1, 2018. 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, 2017 or 2018, 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. Depreciation expense and interest expense were adjusted for the impact of the QuoteWizard acquisition, as described above, including incremental interest associated with debt issued to finance the acquisition. Interest expense was also adjusted to reflect incremental interest associated with debt issued to finance the ValuePenguin acquisition. The provision for income taxes from continuing operations has been adjusted to reflect taxes on the historical results of operations of DepositAccounts, SnapCap and QuoteWizard. DepositAccounts, SnapCap and QuoteWizard 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.



	2019		2018		2017
	(in thousands)
Pro forma revenue	$	1,107,118	$	934,209	$	729,370
Pro forma net income from continuing operations	$	39,173	$	104,153	$	(2,998	)

The unaudited pro forma net income from continuing operations in 2019 includes the aggregate after-tax contingent consideration expense associated with the DepositAccounts, SnapCap, Ovation and QuoteWizard earnouts of $21.5 million. The unaudited pro forma net income from continuing operations for 2018 has been adjusted to include acquisition-related costs of $0.6 million incurred by the Company that are directly attributable to the ValuePenguin acquisition, and 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 2019.

The unaudited pro forma net income from continuing operations in 2018 includes the aggregate after-tax contingent consideration expense associated with the DepositAccounts, SnapCap, Ovation and QuoteWizard earnouts of $7.2 million. The unaudited pro forma net income from continuing operations for 2017 has been adjusted to include acquisition-related costs of $6.9 million incurred by the Company, Student Loan Hero and QuoteWizard that are directly attributable to the Ovation, Student Loan Hero and QuoteWizard 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 2018.

The unaudited pro forma net income from continuing operations in 2017 includes the aggregate after-tax contingent consideration expense associated with the DepositAccounts and SnapCap earnouts of $1.6 million. Acquisition-related costs of $1.0 million 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 ongoing impact, have been eliminated from the unaudited pro forma net income from continuing operations for 2017.

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2019

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consist of the following (in thousands):



	December 31, 2019		December 31, 2018
Accrued advertising expense	$	65,836	$	60,268
Accrued compensation and benefits	10,540		6,381
Accrued professional fees	1,560		2,549
Customer deposits and escrows	6,920		6,913
Contribution to LendingTree Foundation	3,333		3,333
Current lease liabilities	6,885		—
Other	17,681		13,746
Total accrued expenses and other current liabilities	$	112,755	$	93,190

LEASES

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

LEASES

The Company is a lessee to leases of corporate offices and certain office equipment. The majority of leases for corporate offices include one or more options to renew, with renewal terms ranging from two to five years. These renewal options have not been included in the calculation of right-of-use assets and lease liabilities, as the Company is not reasonably certain of the exercise of these renewal options. The Company used its incremental borrowing rate to calculate the right-of-use asset and lease liability for each lease.

As of December 31, 2019, right-of use assets totaling $25.5 million are included in other non-current assets and lease liabilities totaling $28.2 million are included in accrued expenses and other current liabilities and other non-current liabilities in the accompanying balance sheet.

Lease expense, which is included in general and administrative expense on the accompanying consolidated statements of operations and comprehensive income, consists of the following (in thousands):



	Year Ended December 31, 2019
Operating lease cost	$	6,346
Short-term lease cost	86
Total lease cost	$	6,432

Weighted average remaining lease term and discount rate for operating leases are as follows:



	December 31, 2019
Weighted average remaining lease term	5.0 years
Weighted average discount rate	4.7	%

Supplemental cash flow information related to leases is as follows (in thousands):



	Year Ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	6,779
Right-of-use assets obtained in exchange for new operating lease liabilities	$	21,969

Maturities of lease liabilities as of December 31, 2019 are as follows (in thousands):



	Operating Leases
Year ending December 31, 2020	$	8,060
Year ending December 31, 2021	5,731
Year ending December 31, 2022	5,498
Year ending December 31, 2023	5,191
Year ending December 31, 2024	3,476
Thereafter	3,811
Total lease payments	31,767
Less: Interest	3,524
Present value of lease liabilities	$	28,243

Rental expense for all operating leases, except those with terms of a month or less that were not renewed, charged to continuing operations was $3.4 million in 2018 and $2.0 million in 2017, which is included in general and administrative expense in the consolidated statements of operations and comprehensive income.

The Company operated as a lessor in connection with the office buildings in Charlotte, North Carolina acquired in December 2016. The properties were sold in 2019 to an unrelated third party. See Note 7—Assets Held for Sale for further information.

Rental income of $0.3 million, $0.9 million and $1.6 million in 2019, 2018, and 2017 respectively, is included in other income on the accompanying consolidated statements of operations and comprehensive income.

LEASES

Lease expense, which is included in general and administrative expense on the accompanying consolidated statements of operations and comprehensive income, consists of the following (in thousands):



	Year Ended December 31, 2019
Operating lease cost	$	6,346
Short-term lease cost	86
Total lease cost	$	6,432

Weighted average remaining lease term and discount rate for operating leases are as follows:



	December 31, 2019
Weighted average remaining lease term	5.0 years
Weighted average discount rate	4.7	%

Supplemental cash flow information related to leases is as follows (in thousands):



	Year Ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	6,779
Right-of-use assets obtained in exchange for new operating lease liabilities	$	21,969

Maturities of lease liabilities as of December 31, 2019 are as follows (in thousands):



	Operating Leases
Year ending December 31, 2020	$	8,060
Year ending December 31, 2021	5,731
Year ending December 31, 2022	5,498
Year ending December 31, 2023	5,191
Year ending December 31, 2024	3,476
Thereafter	3,811
Total lease payments	31,767
Less: Interest	3,524
Present value of lease liabilities	$	28,243

SHAREHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

SHAREHOLDERS' EQUITY

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



	Year Ended December 31,
	2019	2018	2017
Weighted average basic common shares	12,834	12,504	11,945
Effect of stock options	747	1,043	1,626
Effect of dilutive share awards	167	153	111
Effect of Convertible Senior Notes and warrants	871	397	—
Weighted average diluted common shares	14,619	14,097	13,682

For the years ended December 31, 2019, 2018 and 2017, the weighted average shares that were anti-dilutive, and therefore excluded from the calculation of diluted income per share, included options to purchase 0.1 million, 0.4 million and 0.1 million shares of common stock, respectively.

The 0.625% Convertible Senior Notes due June 1, 2022 and the warrants issued by the Company in 2017 could be converted into the Company’s common stock, subject to certain contingencies. See Note 14—Debt for additional information. Shares of the Company’s common stock associated with these instruments were excluded from the calculation of diluted income per share during 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.

See Note 12—Stock-Based Compensation for a full description of outstanding equity awards.

Common Stock Repurchases

In each of February 2018 and February 2019, the board of directors authorized and the Company announced the repurchase of up to $100.0 million and $150.0 million, respectively, of LendingTree's common stock. During the years ended December 31, 2019, 2018 and 2017, the Company purchased 22,731, 379,449 and 75,393 shares, respectively, of its common stock for aggregate consideration of $5.5 million, $92.6 million and $21.0 million, respectively. At December 31, 2019, $179.7 million remains authorized for share repurchase.

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

The Company currently has two active plans, the Sixth Amended and Restated LendingTree 2008 Stock and Annual Incentive Plan (the "Equity Award Plan") and the LendingTree 2017 Inducement Grant Plan (the "Inducement Plan"), under which future awards may be granted, which currently covers outstanding stock options to acquire shares of the Company's common stock, restricted stock, restricted stock with performance conditions, RSUs and RSUs with performance conditions, and provides for the future grants of these and other equity awards. Under the Equity Award Plan and the Inducement Plan, the Company is authorized to grant stock options, restricted stock, RSUs and other equity-based awards for up to 6.1 million and 0.5 million shares, respectively, of LendingTree common stock to employees, and, under the Equity Award Plan only, to non-employee consultants and directors.

The Equity Award Plan and Inducement Plan each have a stated term of ten years and provide that the exercise price of stock options granted will not be less than the market price of the common stock on the grant date. The Equity Award Plan and Inducement Plan do not specify grant dates or vesting schedules, as those determinations are delegated to the Compensation Committee of the board of directors. Each grant agreement reflects the vesting schedule for that particular grant, as determined by the Compensation Committee. The Compensation Committee has the authority to modify the vesting provisions of an award.

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):



	Year Ended December 31, 2019
	2019		2018		2017
Cost of revenue	$	755	$	378	$	175
Selling and marketing expense	5,785		3,568		3,973
General and administrative expense	39,177		34,325		16,874
Product development	6,450		6,094		2,339
Total non-cash compensation	$	52,167	$	44,365	$	23,361

For the years ended December 31, 2019, 2018 and 2017, the Company recognized $12.2 million, $11.2 million and $9.5 million of income tax benefit related to non-cash compensation. Additionally, for the years ended December 31, 2019, 2018 and 2017, the Company recognized $17.1 million, $77.6 million and $12.9 million, respectively, of excess tax benefit, including state taxes, in income tax expense. See Note 2—Significant Accounting Policies, for additional information regarding excess tax benefits and deficiencies.

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)
Outstanding at December 31, 2018	940,533		$	65.12
Granted	43,704		323.82
Exercised	(167,686	)	52.08
Forfeited	(38,680	)	318.36
Expired	—		—
Outstanding at December 31, 2019	777,871		$	69.87	4.28	$	182,809
Options exercisable	668,976		$	39.73	3.61	$	176,710

(a)

The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company's closing stock price of $303.44 on the last trading day of 2019 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 December 31, 2019. The intrinsic value changes based on the market value of the Company's common stock.

As of December 31, 2019, there was approximately $10.5 million of unrecognized compensation cost related to stock options. These costs are expected to be recognized over a weighted-average period of approximately 2.2 years.

Upon exercise, the intrinsic value represents the pre-tax difference between the Company's closing stock price on the exercise date and the exercise price, multiplied by the number of stock options exercised. During the years ended December 31, 2019, 2018 and 2017, the total intrinsic value of stock options that were exercised was $50.2 million, $268.3 million and $27.7 million, respectively. Cash received from stock option exercises and the related actual tax benefit realized were $8.7 million and $11.9 million, respectively, for the year ended December 31, 2019.

During the years ended December 31, 2019, 2018 and 2017, the Company granted stock options with a weighted average grant date fair value per share of $167.10, $150.55 and $105.15, respectively, of which the vesting periods include (a) immediately upon grant, (b) one year from the grant date, (c) 50% over a period of two years from the grant date, (d) 33% over a period of three years from the grant date, and (e) certain grants to executive officers that vest over periods of up to five and a half years.

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:



	Year Ended December 31,
	2019	2018	2017
Expected term ⁽¹⁾	5.00 - 6.25 years	5.00 - 6.71 years	5.00 - 7.00 years
Expected dividend ⁽²⁾	—	—	—
Expected volatility ⁽³⁾	51% - 55%	50% - 53%	51% - 52%
Risk-free interest rate ⁽⁴⁾	1.46% - 2.55 %	2.33% - 3.06%	1.74% - 2.24%


(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 during the years ended December 31, 2019, 2018 and 2017, 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.

During the years ended December 31, 2019, 2018 and 2017, the total fair value of options vested was $6.9 million, $11.4 million and $4.1 million, respectively.

Stock Options with Performance Conditions

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



	Number of Options with Performance Conditions		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
			(per option)		(in years)	(in thousands)
Outstanding at December 31, 2018	37,877		$	308.90
Granted	—		—
Exercised	—		—
Forfeited	—		—
Expired	(37,877	)	308.90
Outstanding at December 31, 2019	—		$	—	0.00	$	—
Options exercisable	—		$	—	0.00	$	—

No stock options with performance conditions were granted in 2019 or 2018. During 2017, the Company granted stock options with performance conditions with a weighted average grant date fair value per share of $152.45, of which vesting periods range from 1.2 years to 2.2 years, pending the attainment of certain performance targets set at the time of grant. The performance measurement period ended on December 31, 2019. The performance conditions associated with this grant were not met, and the performance-based nonqualified stock options were not earned. No compensation cost associated with these options has been recorded.



	Year ended December 31, 2017
Expected term⁽¹⁾	5.50 - 6.00 years
Expected dividend ⁽²⁾	—
Expected volatility ⁽³⁾	51%
Risk-free interest rate ⁽⁴⁾	2.16% - 2.23%


(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 during the year ended December 31, 2017, 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 Market Conditions

A summary of changes in outstanding stock options with market conditions at target 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)
Outstanding at December 31, 2018	447,193	$	200.51
Granted	16,247	308.96
Exercised	—	—
Forfeited	—	—
Expired	—	—
Outstanding at December 31, 2019	463,440	$	204.31	7.67	$	48,178
Options exercisable	—	$	—	0.00	$	—

(a)

As of December 31, 2019, there was approximately $40.5 million of unrecognized compensation cost related to stock options with market conditions. These costs are expected to be recognized over a weighted-average period of approximately 2.8 years. The fair value of the stock options with market conditions will be recognized on a straight-line basis through each grant’s vest date, whether or not any of the total shareholder return targets are met.

During the years ended December 31, 2019, 2018 and 2017, the Company granted stock options with a weighted-average grant date fair value per share of $230.81, $296.80 and $142.45, respectively, which have vest dates of March 31, 2023, March 31, 2022 and September 30, 2022, respectively.

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



	Year Ended December 31,
	2019	2018	2017
Expected term ⁽¹⁾	7.00 years	7.00 - 7.15 years	7.50 years
Expected dividend ⁽²⁾	—	—	—
Expected volatility ⁽³⁾	51%	50%	50%
Risk-free interest rate ⁽⁴⁾	2.54%	2.38% - 2.81%	2.12%


(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 during the years ended December 31, 2019, 2018 and 2017, 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.

The stock options with a market condition granted in 2019 have a target number of shares that vest upon achieving a targeted total shareholder return performance of 81% stock price appreciation and a maximum of 27,132 shares for achieving superior

performance. No shares will vest unless 41% of the targeted performance is achieved. The performance measurement period ends on March 31, 2023.

Certain of the stock options with a market condition granted in 2018 have a target number of shares that vest upon achieving a targeted total shareholder return performance of 110% stock price appreciation and a maximum of 52,332 shares for achieving superior performance. No shares will vest unless 70% of the targeted performance is achieved. The performance measurement period ends on September 30, 2022. The remaining stock options with a market condition granted in 2018 have a target number of shares that vest upon achieving a targeted total shareholder return performance of 81% stock price appreciation and a maximum of 21,982 shares for achieving superior performance. No shares will vest unless 41% of the targeted performance is achieved. The performance measurement period ends on March 31, 2022.

The stock options with a market condition granted 2017 have a target number of shares that vest upon achieving a targeted total shareholder return performance of 110% stock price appreciation and a maximum of 672,499 shares for achieving superior performance. No shares will vest unless 70% of the targeted performance is achieved. The performance measurement period ends on September 30, 2022.

For all stock options with market conditions, time-based service vesting conditions would also have to be satisfied in order for shares to become fully vested and no longer subject to forfeiture.

As of December 31, 2019, stock options with a market condition of 481,669 had been earned, which have a vest date of September 30, 2022.

Restricted Stock Units

A summary of changes in outstanding nonvested RSUs is as follows:



	RSUs
	Number of Units		Weighted Average Grant Date Fair Value
			(per unit)
Nonvested at December 31, 2018	201,568		$	225.48
Granted ^(a)	62,248		318.04
Vested	(82,020	)	192.89
Forfeited	(36,857	)	287.73
Nonvested at December 31, 2019	144,939		$	267.85


(a)	The grant date fair value per share of the RSUs is calculated as the closing market price of LendingTree's common stock at the time of grant.

As of December 31, 2019, there was approximately$24.4 million of unrecognized compensation cost related to RSUs. These costs are expected to be recognized over a weighted-average period of approximately 1.6 years.

The total fair value of RSUs that vested during the years ended December 31, 2019, 2018 and 2017 was $27.2 million, $21.8 million and $11.5 million, respectively.

Restricted Stock Units with Performance Conditions

A summary of 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 December 31, 2018	92,481		$	182.28
Granted	—		—
Vested	(46,785	)	207.36
Forfeited	(31,049	)	212.09
Nonvested at December 31, 2019	14,647		$	210.55

No RSUs with performance conditions were granted in 2019. During 2018 and 2017, the Company granted RSUs with performance conditions to certain employees, of which vesting periods range from 0.50 years to 4.00 years, pending the attainment of certain performance targets set at the time of grant. The grant date fair value per share of the RSUs with performance conditions is calculated as the closing market price of LendingTree's common stock at the time of grant.

As of December 31, 2019, there was approximately $2.8 million of unrecognized compensation cost related to RSUs with performance conditions. These costs are expected to be recognized over a weighted-average period of approximately 1.2 years.

The total fair value of RSUs with performance conditions that vested during the years ended December 31, 2019, 2018, and 2017 was $18.8 million, $7.9 million, and $0.4 million, respectively.

Restricted Stock Awards with Performance Conditions

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



	RSAs with Performance Conditions
	Number of Awards		Weighted Average Grant Date Fair Value
			(per unit)
Nonvested at December 31, 2018	71,412		$	340.25
Granted	—		—
Vested	(23,804	)	340.25
Forfeited	—		—
Nonvested at December 31, 2019	47,608		$	340.25

No RSAs with performance conditions were granted in 2019 or 2017. During 2018, the Company granted time-vested RSAs with a performance condition to its Chairman and Chief Executive Officer, which vest through December 31, 2021. The terms of this award were fixed in 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.

As of December 31, 2019, there was approximately $8.7 million of unrecognized compensation cost related to RSAs with performance conditions. These costs are expected to be recognized over a period of approximately 2.0 years.

The total fair value of RSAs with performance conditions that vested during the years ended December 31, 2019 and 2018 was $8.2 million and $13.6 million, respectively.

Restricted Stock Awards with Market Conditions

A summary of changes in outstanding nonvested RSAs with market conditions at target is as follows:



	RSAs with Market Conditions
	Number of Awards	Weighted Average Grant Date Fair Value
		(per unit)
Nonvested at December 31, 2018	26,674	$	340.25
Granted	—	—
Vested	—	—
Forfeited	—	—
Nonvested at December 31, 2019	26,674	$	340.25

No RSAs with market conditions were granted in 2019 or 2017. During 2018, the Company granted RSAs with market conditions to its Chairman and Chief Executive Officer with a total grant date fair value of $1.9 million. These RSAs with a market condition have a target number of shares that vest upon achieving a targeted total shareholder return performance of 110% stock price appreciation and a maximum of 44,545 shares for achieving superior performance. No shares will vest unless 70% of the targeted performance is achieved. The performance measurement period ends on September 30, 2022. Time-based service vesting conditions would also have to be satisfied in order for shares to become fully vested and no longer subject to forfeiture

As of December 31, 2019, there was approximately $1.0 million of unrecognized compensation cost related to RSAs with market conditions. These costs are expected to be recognized over a weighted-average period of approximately 2.8 years.

As of December 31, 2019, RSAs with a market condition of 29,601 had been earned, which have a vest date of September 30, 2022.

INCOME TAXES

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

Income Tax Provision

The components of the income tax expense (benefit) are as follows (in thousands):



	Year Ended December 31,
	2019			2018			2017
Current income tax expense (benefit):
Federal	$	201		$	(1,470	)	$	10,055
State	(125		)	(204		)	2,606
Current income tax expense (benefit)	76			(1,674		)	12,661
Deferred income tax (benefit) provision:
Federal	(10,857		)	(44,950		)	(3,805		)
State	2,302			(18,951		)	(2,565		)
Deferred income tax benefit	(8,555		)	(63,901		)	(6,370		)
Income tax (benefit) expense	$	(8,479	)	$	(65,575	)	$	6,291

A reconciliation of the income tax expense (benefit) to the amounts computed by applying the statutory federal income tax rate to income from continuing operations before income taxes is shown as follows (in thousands):



	Year Ended December 31,
	2019			2018			2017
Federal statutory income tax	$	6,506		$	9,186		$	8,998
State income taxes, net	(1,832		)	(14,884		)	(268		)
Excess tax deductions on non-cash compensation	(13,971		)	(59,601		)	(11,134		)
Research and experimentation tax credit	(5,794		)	(2,523		)	(1,318		)
Impact of certain state legislation, net	3,932			—			—
Nondeductible executive compensation	988			163			21
Change in (release of) valuation allowance	954			(12		)	593
Uncertain tax positions	922			289			170
Nondeductible meals & entertainment	428			310			90
Impact of Tax Cuts and Jobs Act	—			270			9,062
Other, net	(612		)	1,227			77
Income tax (benefit) expense	$	(8,479	)	$	(65,575	)	$	6,291

During the fourth quarter of 2017, LendingTree recorded a net tax expense of $9.1 million related to the enactment of the TCJA. The expense is primarily related to the remeasurement of LendingTree’s deferred tax assets and liabilities considering the TCJA’s enacted tax rates and certain other impacts. Simultaneous with the Act, the SEC Staff released Accounting Bulletin No. 118 ("SAB 118"), which allows the use of provisional amounts (reasonable estimates) if the analysis of the impacts of the Act have not been completed when financial statements are issued. During the fourth quarter of 2018, the Company finalized the computations of the income tax effects of the Act. As such, in accordance with SAB 118, the Company's accounting for the effects of the Act is complete. The Company did not significantly adjust provisional amounts recorded in 2017 and the SAB 118 measurement period subsequently ended on December 22, 2018. Although the Company no longer considers these amounts to be provisional, the determination of the Act’s income tax effects may change following future legislation or further interpretation of the Act based on the publication of recently proposed U.S. Treasury regulations and guidance from the Internal Revenue Service and state tax authorities.

Deferred Income Taxes

The tax effects of cumulative temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows (in thousands):



	December 31,
	2019			2018
Deferred tax assets:
Provision for accrued expenses	$	12,234		$	5,953
Leasing ^(a)	7,299			—
Net operating loss carryforwards ^(b)	56,450			59,817
Non-cash compensation expense	15,805			12,505
Interest limitation	987			3,532
Contingent liabilities	9,366			3,053
Tax credits	6,124			1,569
Other	1,624			2,976
Total gross deferred tax assets	109,889			89,405
Less: valuation allowance ^(c)	(4,102		)	(2,229		)
Total deferred tax assets, net of the valuation allowance	105,787			87,176
Deferred tax liabilities:
Intangible and other assets	(1,744		)	(4,623		)
Leasing ^(a)	(6,596		)	—
Other	(1,835		)	(892		)
Total gross deferred tax liabilities	(10,175		)	(5,515		)
Net deferred taxes	$	95,612		$	81,661


(a)	As of December 31, 2019, the adoption of ASC Topic 842 has no material impact to the effective tax rate. Related deferred tax positions are individually disclosed as components of deferred tax as of December 31, 2019.

(b)

At December 31, 2019, the Company had pre-tax consolidated federal net operating losses ("NOLs") of $188.2 million. The federal NOLs no longer expire under the new TCJA. The Company's NOLs will be available to offset taxable income subject to the Internal Revenue Code Section 382 annual limitation. In addition, the Company has state NOLs of approximately $484.7 million at December 31, 2019 that will expire at various times between 2021 and 2039.


(c)	The valuation allowance is related to items for which it is "more likely than not" that the tax benefit will not be realized.

Deferred income taxes are presented in the accompanying consolidated balance sheets as follows (in thousands):



	December 31,
	2019		2018
Deferred income tax assets	$	87,664	$	79,289
Non-current assets of discontinued operations	7,948		3,266
Deferred income tax liabilities	—		(894		)
Net deferred taxes	$	95,612	$	81,661

Valuation Allowance

A valuation allowance is provided on deferred tax assets if it is determined that it is "more likely than not" that the deferred tax asset will not be realized. As of each reporting date, management considers both positive and negative evidence regarding the likelihood of future realization of the deferred tax assets.

At December 31, 2019, 2018 and 2017, the Company recorded a partial valuation allowance of $4.1 million, $2.2 million and $2.7 million, respectively, primarily related to state net operating losses, which the Company does not expect to be able to utilize prior to expiration.

A reconciliation of the beginning and ending balances of the deferred tax valuation allowance is as follows (in thousands):



	Year Ended December 31,
	2019		2018			2017
Balance, beginning of the period	$	2,229	$	2,694		$	2,101
Charges to earnings	1,873		(465		)	593
Balance, end of the period	$	4,102	$	2,229		$	2,694

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties, is as follows (in thousands):



	Year Ended December 31,
	2019		2018
Balance, beginning of the period	$	1,127	$	748
Additions based on tax positions of the current period	525		249
Additions based on tax positions of the prior period	344		130
Balance, end of the period	$	1,996	$	1,127

Interest and, if applicable, penalties are recognized related to unrecognized tax benefits in income tax expense. Interest and penalties on unrecognized tax benefits included in income tax expense for each of the years ended December 31, 2019, 2018 and 2017 is immaterial.

As of December 31, 2019 and 2018, the accrual for unrecognized tax benefits, including interest, was $2.1 million and $1.2 million, respectively, which would benefit the effective tax rate if recognized. Management also believes that it is reasonably possible that the amount of unrecognized income tax benefits may decrease by $0.6 million within the next twelve months due to settlement of audits and expiration of statutes of limitations.

Tax Audits

LendingTree is subject to audits by federal, state and local authorities in the area of income tax. These audits include questioning the timing and the amount of deductions and the allocation of income among various tax jurisdictions. Income taxes payable include amounts considered sufficient to pay assessments that may result from examination of prior year returns; however, any amounts paid upon resolution of issues raised may differ from the amount provided. Differences between the reserves for tax contingencies and the amounts owed by the Company are recorded in the period they become known. As of December 31, 2019, the Company is subject to a federal income tax examination for the tax years 2014 through 2018. In addition, the Company is subject to state and local tax examinations for the tax years 2014 through 2018.

DEBT DEBT

12 Months Ended

Dec. 31, 2019

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 were not entitled to convert the Notes from July 1, 2018 to March 31, 2019. Holders of the Notes became entitled to convert the Notes on April 1, 2019, 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, 2019, being greater than or equal to 130% of the conversion price of the Notes on each applicable trading day. Holders of the Notes will continue to have such right until March 31, 2020, 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, 2019, being 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 is separated into a debt and an 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.

During 2019, the Company recorded interest expense on the Notes of $15.3 million which consisted of $1.9 million associated with the 0.625% coupon rate, $12.0 million associated with the accretion of the debt discount, and $1.4 million associated with the amortization of the debt issuance costs. During 2018, the Company recorded interest expense on the Notes of $14.6 million which consisted of $1.9 million associated with the 0.625% coupon rate, $11.4 million associated with the accretion of the debt discount, and $1.3 million associated with the amortization of the debt issuance costs. During 2017, the Company recorded interest expense on the Notes of $8.2 million which consisted of $1.1 million associated with the 0.625% coupon rate, $6.4 million associated with the accretion of the debt discount, and $0.7 million associated with the amortization of the debt issuance costs. The debt discount is being amortized over the term of the debt.

As of December 31, 2019, the fair value of the Notes is estimated to be approximately $469.1 million using the Level 1 observable input of the last quoted market price on December 31, 2019.

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):



	December 31, 2019		December 31, 2018
Gross carrying amount	$	299,991	$	300,000
Unamortized debt discount	31,789		43,805
Debt issuance costs	3,811		5,252
Net carrying amount	$	264,391	$	250,943

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 December 10, 2019, the Company's wholly-owned subsidiary, LendingTree, LLC, entered into an amended and restated $500.0 million five-year senior secured revolving credit facility (the “Amended Revolving Credit Facility”), which amended and

restated the Company's previous $350.0 million five-year senior secured revolving credit facility (the “2017 Revolving Credit Facility”). The Amended Revolving Credit Facility matures on December 10, 2024. Borrowings under the Amended Revolving Credit Facility can be used to finance working capital needs, capital expenditures and general corporate purposes, including to finance permitted acquisitions. As of December 31, 2019, the Company had $75.0 million in borrowings outstanding under the Amended Revolving Credit Facility at the LIBO rate option with a weighted average interest rate of 3.01%, consisting of a $50.0 million 31-day borrowing and a $25.0 million 31-day borrowing. As of December 31, 2018, the Company had a $125.0 million, 31-day borrowing outstanding under the Revolving Credit Facility bearing interest at the LIBO rate option of 4.02%.

Up to $10.0 million of the Amended Revolving Credit Facility will be available for short-term loans, referred to as swingline loans. Under certain conditions, the Company will be permitted to add one or more term loans and/or increase revolving commitments under the Amended Revolving Credit Facility by an additional amount equal to the greater of $185.0 million or 100% of Consolidated EBITDA as defined, or a greater amount provided that a total consolidated senior secured debt to EBITDA ratio does not exceed 2.50 to 1.00. Additionally, up to $10.0 million of the Amended Revolving Credit Facility will be available for the issuance of letters of credit. As of December 31, 2019, the Company has outstanding one letter of credit issued in the amount of $0.2 million.

The Company’s borrowings under the Amended 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 Truist 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 Amended 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 Amended 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 December 31, 2019.

The Amended 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 Amended 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.

The Company recognized $0.3 million and $0.1 million in additional interest expense in the fourth quarters of 2019 and 2017, respectively, due to the write-off of certain unamortized debt issuance costs associated with the original revolving credit facility and previous amendments to the credit agreement. In addition to the remaining unamortized debt issuance costs associated with the original revolving credit facility and the Revolving Credit Facility, debt issuance costs of $2.8 million related to the Amended

Revolving Credit Facility entered into on December 10, 2019 are being amortized to interest expense over the life of the Amended Revolving Credit Facility, and are included in prepaid and other current assets and other non-current assets in the Company's consolidated balance sheet.

During 2019, the Company recorded interest expense related to the revolving credit facility of $6.1 million which consisted of $4.9 million associated with borrowings bearing interest at the LIBO rate, $0.6 million in unused commitment fees, and $0.6 million associated with the amortization of the debt issuance costs. During 2018, the Company recorded interest expense related to the revolving credit facility of $2.0 million which consisted of $0.8 million associated with borrowing bearing interest at the base rate and the LIBO rate, $0.8 million in unused commitment fees, and $0.4 million associated with the amortization of the debt issuance costs. During 2017, the Company recorded interest expense related to the revolving credit facility of $0.5 million in unused commitment fees and $0.4 million associated with the amortization of the debt issuance costs.

COMMITMENTS

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS

Bonds

The Company has funding commitments that could potentially require performance in the event of demands by third parties or contingent events, as follows (in thousands):



	Commitments Due By Period
	Total		Less Than 1 year		1-3 years		3-5 years		More Than 5 years
Surety bonds ^(a)	$	5,278	$	5,253	$	25	$	—	$	—

(a) State laws and regulations generally require businesses which engage in mortgage brokering activity to maintain a mortgage broker or similar license. Mortgage brokering activity is generally defined to include, among other things, receiving valuable consideration for offering assistance to a buyer in obtaining a residential mortgage or soliciting financial and mortgage information from the public and providing that information to an originator of residential mortgage loans. All states require that the Company maintain surety bonds for potential claims.

Other Commitments

The Company has certain other commitments through 2036, where the aggregate commitments for these contracts range from $4.2 million to $11.2 million each year throughout the remaining life of the contract.

CONTINGENCIES	12 Months Ended
CONTINGENCIES	Dec. 31, 2019
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 Company's business. With respect to the matters disclosed in this Note 16, 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 December 31, 2019, the Company had litigation settlement accruals of $0.2 million and $31.0 million in continuing operations and discontinued operations, respectively. As of December 31, 2018, the Company had litigation settlement accruals of $0.2 million and $8.0 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. See Note 20—Discontinued Operations for additional information.

FAIR VALUE MEASUREMENT

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENTS

Other than the Notes and the Warrants, the carrying amounts of the Company's financial instruments are equal to fair value at December 31, 2019. See Note 14—Debt for additional information on the 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 years ended December 31, 2019, 2018 and 2017 are as follows (in thousands):



	Year Ended December 31,
	2019			2018			2017
Contingent consideration, beginning of period	$	38,837		$	57,349		$	23,100
Transfers into Level 3	—			—			—
Transfers out of Level 3	—			—			—
Total net losses included in earnings (realized and unrealized)	28,402			10,788			23,931
Purchases, sales and settlements:
Additions	—			19,700			11,318
Payments	(33,775		)	(49,000		)	(1,000		)
Contingent consideration, end of period	$	33,464		$	38,837		$	57,349

The contingent consideration liability at December 31, 2019 and 2018 consisted of the estimated fair value of the earnout payments of the DepositAccounts, SnapCap, Ovation, and QuoteWizard acquisitions. The contingent consideration liability at December 31, 2017 was the estimated fair value of the earnout payments of the CompareCards, DepositAccounts, and SnapCap acquisitions. The Company will make earnout payments ranging from zero to $1.0 million based on the achievement of defined milestone targets for DepositAccounts, payments ranging from $3.0 million to $6.0 million based on the achievement of certain defined earnings targets for SnapCap, payments ranging from zero to $4.4 million based on the achievement of certain defined operating metrics for Ovation, and payments ranging from zero to $46.8 million based on the achievement of certain defined performance targets for QuoteWizard. See Note 8—Business Acquisitions 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

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS One of the Company's board of directors served as a director to a marketing partner of the Company through 2018. During 2018 and 2017, the Company recognized $0.7 million and $1.2 million, respectively, of expenses for this marketing partner through the normal course of business. In 2017, the Company's Board of Directors approved a $10.0 million contribution to fund the newly formed LendingTree Foundation. The Company paid $3.3 million of the $10.0 million contribution in 2019, and expects to pay the remainder in equal installments in 2020 and 2021. Officers of the Company serve as officers of the LendingTree Foundation. The contribution is recorded in general and administrative expense on the consolidated statement of operations and comprehensive income.

BENEFIT PLANS	12 Months Ended
BENEFIT PLANS	Dec. 31, 2019
Defined Contribution Plan [Abstract]
BENEFIT PLANS	BENEFIT PLANSThe Company operates a retirement savings plan for its employees in the United States that is qualified under Section 401(k) of the Internal Revenue Code. Employees are eligible to enroll in the plan upon date of hire. Participating employees may contribute up to 50% of their pre-tax earnings, but not more than statutory limits ($19,000 for 2019, $18,500 for 2018, and $18,000 for 2017). The company match contribution is fifty cents for each dollar a participant contributes to the plan, with a maximum contribution of 6% of a participant's eligible earnings. Matching contributions are invested in the same manner as each participant's voluntary contributions in the investment options provided under the plan. LendingTree stock is not included in the available investment options or the plan assets. Funds contributed to the plan vest according to the participant's years of service, with one year of service vesting at 33%, two years of service vesting at 66%, and three years or more of service vesting at 100%. Matching contributions were approximately $2.0 million, $1.4 million and $0.9 million for the years ended December 31, 2019, 2018 and 2017, respectively.

DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

ASSETS HELD FOR SALE

Property and equipment classified as held for sale at December 31, 2018 is as follows (in thousands):



	Amount
Land	$	5,818
Building	14,984
Site improvements	950
Computer equipment and capitalized software	166
Furniture and other equipment	145
Total gross property and equipment	22,063
Accumulated depreciation	(1,278		)
Total property and equipment, net	$	20,785

Intangible assets classified as held for sale at December 31, 2018 is as follows (in thousands):



	Amount
Tenant leases	$	961
Total gross intangible assets	961
Accumulated amortization	(468		)
Total intangible assets, net	$	493

DISCONTINUED OPERATIONS

Home Loan Center, Inc. Bankruptcy Filing

Loan Loss Obligations

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

Litigation Related to Discontinued Operations

Residential Funding Company

Lehman Brothers Holdings, Inc.

Financial Information of Discontinued Operations

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



	Year Ended December 31,
	2019			2018			2017
Revenue	$	—		$	—		$	(750	)

Gain from removal of HLC's assets and liabilities	4,515			—			—
Other operating expenses	(35,002		)	(16,228		)	(5,159		)
Loss before income taxes	(30,487		)	(16,228		)	(5,909		)
Income tax benefit	8,855			3,408			2,069
Net loss	$	(21,632	)	$	(12,820	)	$	(3,840	)

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

SEGMENT INFORMATION

The Company manages its business and reports its financial results through the following three operating and reportable segments: Home, Consumer and Insurance. Characteristics which were relied upon in making the determination of the reportable segments include the nature of the products, the organization's internal structure, and the information that is regularly reviewed by the CODM for the purpose of assessing performance and allocating resources. The Company changed its reportable segments in the fourth quarter of 2019 and previously reported segment results have been revised to conform to the Company's reportable segments at December 31, 2019.

The Home segment includes the following products: purchase mortgage, refinance mortgage, home equity loans and lines of credit, reverse mortgage loans, and real estate. The Consumer segment includes the following products: credit cards, personal loans, small business loans, student loans, auto loans, deposit accounts, and other credit products such as credit repair and debt settlement. The Insurance segment consists of insurance quote products. Revenue from the resale of online advertising space to third parties and revenue from home improvement referrals, and the related variable marketing and advertising expenses, are included within the Other category.

The following tables are a reconciliation of segment profit, which is the Company's primary segment profitability measure, to income before income taxes and discontinued operations. Segment cost of revenue and marketing expense represents the portion of selling and marketing expense attributable to variable costs paid for advertising, direct marketing and related expenses, that are directly attributable to the segments' products. This measure excludes overhead, fixed costs and personnel-related expenses. For the Other category, segment cost of revenue and marketing expense also includes the portion of cost of revenue attributable to costs paid for advertising re-sold to third parties.



	Year Ended December 31, 2019
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	277,935	$	515,037	$	284,792	$	28,839	$	1,106,603
Segment cost of revenue and marketing expense	174,814		301,852		170,153		27,466		674,285
Segment profit	103,121		213,185		114,639		1,373		432,318
Cost of revenue (exclusive of cost of advertising re-sold to third parties included above)									45,624
Brand and other marketing expense									83,650
General and administrative expense									116,847
Product development									39,953
Depreciation									10,998
Amortization of intangibles									55,241
Change in fair value of contingent consideration									28,402
Severance									1,026
Litigation settlements and contingencies									(151		)
Operating income									50,728
Interest expense, net									(20,271		)
Other income									524
Income before income taxes and discontinued operations									$	30,981



	Year Ended December 31, 2018
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	319,176	$	395,615	$	31,369	$	18,705	$	764,865
Segment cost of revenue and marketing expense	214,475		207,891		20,011		17,351		459,728
Segment profit	104,701		187,724		11,358		1,354		305,137
Cost of revenue (exclusive of cost of advertising re-sold to third parties included above)									27,587
Brand and other marketing expense									49,375
General and administrative expense									101,219
Product development									26,958
Depreciation									7,385
Amortization of intangibles									23,468
Change in fair value of contingent consideration									10,788
Severance									2,352
Litigation settlements and contingencies									(186		)
Operating income									56,191
Interest expense, net									(12,437		)
Other expense									(10		)
Income before income taxes and discontinued operations									$	43,744



	Year Ended December 31, 2017
	Home		Consumer		Insurance		Other			Total
	(in thousands)
Revenue	$	340,377	$	276,091	$	136	$	1,132		$	617,736
Segment cost of revenue and marketing expense	204,135		160,384		70		1,756			366,345
Segment profit (loss)	136,242		115,707		66		(624		)	251,391
Cost of revenue (exclusive of cost of advertising re-sold to third parties included above)										17,223
Brand and other marketing expense										66,439
General and administrative expense										71,541
Product development										17,925
Depreciation										7,085
Amortization of intangibles										12,992
Change in fair value of contingent consideration										23,931
Severance										404
Litigation settlements and contingencies										718
Operating income										33,133
Interest expense, net										(7,028		)
Other expense										(396		)
Income before income taxes and discontinued operations										$	25,709

The CODM does not review information on segment assets and as such, no segment asset information is reported herein.

QUARTERLY FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information [Abstract]

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

The following tables set forth summary financial information for the years ended December 31, 2019 and 2018:



	Q1			Q2			Q3			Q4
	(in thousands, except per share amounts)
2019
Revenue	$	262,390		$	278,421		$	310,605		$	255,187
Operating (loss) income ⁽¹⁾	(1,802		)	12,316			31,193			9,021
Income from continuing operations ⁽¹⁾	550			12,981			24,463			1,466
(Loss) income from discontinued operations	(1,062		)	(763		)	(20,199		)	392
Net (loss) income and comprehensive (loss) income	$	(512	)	$	12,218		$	4,264		$	1,858
Income per share from continuing operations:
Basic	$	0.04		$	1.01		$	1.90		$	0.11
Diluted	$	0.04		$	0.87		$	1.67		$	0.10
(Loss) income per share from discontinued operations:
Basic	$	(0.08	)	$	(0.06	)	$	(1.57	)	$	0.03
Diluted	$	(0.07	)	$	(0.05	)	$	(1.38	)	$	0.03
Net (loss) income per share:
Basic	$	(0.04	)	$	0.95		$	0.33		$	0.14
Diluted	$	(0.04	)	$	0.82		$	0.29		$	0.13


(1)	The first quarter of 2019 includes contingent consideration expense of $14.4 million for the QuoteWizard acquisition due to an increased probability of achievement of certain defined performance targets for QuoteWizard.



	Q1			Q2			Q3			Q4
	(in thousands, except per share amounts)
2018
Revenue	$	181,035		$	184,101		$	197,057		$	202,672
Operating income ⁽¹⁾	15,350			18,123			20,290			2,428
Income from continuing operations ⁽¹⁾	35,857			44,849			28,362			251
Loss from discontinued operations	(4,333		)	(2,302		)	(2,634		)	(3,551		)
Net income (loss) and comprehensive income (loss)	$	31,524		$	42,547		$	25,728		$	(3,300	)
Income per share from continuing operations:
Basic	$	2.97		$	3.61		$	2.22		$	0.02
Diluted	$	2.41		$	3.17		$	2.05		$	0.02
Loss per share from discontinued operations:
Basic	$	(0.36	)	$	(0.19	)	$	(0.21	)	$	(0.28	)
Diluted	$	(0.29	)	$	(0.16	)	$	(0.19	)	$	(0.26	)
Net income (loss) per share:
Basic	$	2.61		$	3.43		$	2.01		$	(0.26	)
Diluted	$	2.12		$	3.01		$	1.86		$	(0.24	)

(1)

The fourth quarter of 2018 includes contingent consideration expense of $6.8 million for the QuoteWizard acquisition due to an increased probability of achievement of certain defined performance targets for QuoteWizard.

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Revenue Recognition

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 from Consumer products is generated by match and other upfront fees for clicks or call transfers, as well as from closing fees, approval fees and upfront service and subscription fees.

Our payment terms vary by customer and services offered. The term between invoicing and when payment is due is generally 45 days or less.

For additional information on the adoption of ASC Topic 606, see the discussion over ASU 2014-09 in the section titled "Recently Adopted Accounting Pronouncements" within this Note.

Cash and Cash Equivalents

Cash and cash equivalents include cash and short-term, highly liquid money market investments with original maturities of three months or less.

Restricted Cash

Cash escrowed or contractually restricted for a specific purpose is designated as restricted cash.

Accounts Receivable

Accounts receivable are stated at amounts due from customers, net of an allowance for doubtful accounts.

A reconciliation of the beginning and ending balances of the allowance for doubtful accounts is as follows (in thousands):



	Year Ended December 31,
	2019			2018			2017
Balance, beginning of the period	$	1,143		$	675		$	1,059
Charges to earnings	1,697			880			195
Write-off of uncollectible accounts receivable	(1,374		)	(412		)	(579		)
Balance, end of the period	$	1,466		$	1,143		$	675

Segment Reporting

Property and Equipment



Asset Category	Estimated Useful Lives
Computer equipment and capitalized software	1 to 5 years
Leasehold improvements	Lesser of asset life or life of lease
Furniture and other equipment	7 years
Aircraft and automobile	5 to 10 years

Software Development Costs

Goodwill and Indefinite-Lived Intangible Assets

Long-Lived Assets and Intangible Assets with Definite Lives

At December 31, 2019 and 2018, the Company performed its review of impairment triggering events for long-lived assets and determined that a triggering event had not occurred.

Assets and Liabilities Held for Sale

The Company classifies assets or disposal groups to be sold as held for sale in the period in which all of the following criteria are met:


•	Management, having the authority to approve the action, commits to a plan to sell the asset or disposal group;


•	The asset or disposal group is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets or disposal groups;


•	An active program to locate a buyer and other actions required to complete the plan to sell the asset or disposal group have been initiated;


•	The sale of the asset or disposal group is probable, and transfer of the asset or disposal group is expected to qualify for recognition as a completed sale within one year, except if events or circumstances beyond the Company's control extend the period of time required to sell the asset or disposal group beyond one year;


•	The asset or disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and


•	Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

Fair Value Measurements


•	Level 1: Observable inputs, such as quoted prices for identical assets and liabilities in active markets obtained from independent sources.


•	Level 2: Other inputs that are observable directly or indirectly, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and inputs that are derived principally from or corroborated by observable market data.


•	Level 3: Unobservable inputs for which there is little or no market data and which require the Company to develop its own assumptions, based on the best information available under the circumstances, about the assumptions market participants would use in pricing the asset or liability.

Stock-Based Compensation

LendingTree recognizes as expense non-cash compensation for all stock-based awards for which vesting is considered probable. Forfeitures are recognized when they occur.

Litigation Settlements and Contingencies

Litigation settlements and contingencies consists of expenses related to actual or anticipated litigation settlements.

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 marketplace.

Other than a support services office in India, the Company's operations are geographically limited to and dependent upon the economic condition of the United States.

Recent Accounting Pronouncements

Recently Adopted 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	)

Recently Issued Accounting Pronouncements

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Schedule of reconciliation of the allowance for doubtful accounts

A reconciliation of the beginning and ending balances of the allowance for doubtful accounts is as follows (in thousands):



	Year Ended December 31,
	2019			2018			2017
Balance, beginning of the period	$	1,143		$	675		$	1,059
Charges to earnings	1,697			880			195
Write-off of uncollectible accounts receivable	(1,374		)	(412		)	(579		)
Balance, end of the period	$	1,466		$	1,143		$	675

Schedule of depreciation period for each asset category

The following table presents the estimated useful lives for each asset category:



Asset Category	Estimated Useful Lives
Computer equipment and capitalized software	1 to 5 years
Leasehold improvements	Lesser of asset life or life of lease
Furniture and other equipment	7 years
Aircraft and automobile	5 to 10 years

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	)

REVENUE (Tables)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Revenue is as follows (in thousands):



	Year Ended December 31,
	2019		2018		2017
Revenue:
Home	$	277,935	$	319,176	$	340,377
Credit cards	211,294		165,776		147,028
Personal loans	152,729		134,199		88,244
Other Consumer	151,014		95,640		40,819
Consumer	515,037		395,615		276,091
Insurance	284,792		31,369		136
Other	28,839		18,705		1,132
Total revenue	$	1,106,603	$	764,865	$	617,736

CASH AND RESTRICTED CASH (Tables)

12 Months Ended

Dec. 31, 2019

Cash and Cash Equivalents [Abstract]

Schedule of cash, restricted cash and cash equivalents

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



	December 31, 2019		December 31, 2018
Cash and cash equivalents	$	60,243	$	105,102
Restricted cash and cash equivalents	96		56
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$	60,339	$	105,158

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Schedule of property and equipment, net

The balance of property and equipment, net is as follows (in thousands):



	December 31, 2019			December 31, 2018
Computer equipment and capitalized software	$	28,425		$	22,847
Leasehold improvements	7,751			4,651
Furniture and other equipment	3,993			1,935
Aircraft and automobile	2,621			2,621
Projects in progress	6,552			5,008
Total gross property and equipment	49,342			37,062
Accumulated depreciation	(17,979		)	(13,887		)
Total property and equipment, net	$	31,363		$	23,175

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2019

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	11,260		—			11,260
Acquisition of Student Loan Hero	40,856		—			40,856
Acquisition of QuoteWizard	182,863		—			182,863
Balance at December 31, 2018	$	831,435	$	(483,088	)	$	348,347
Acquisition of Ovation	20		—			20
Acquisition of QuoteWizard	33		—			33
Acquisition of ValuePenguin	71,739		—			71,739
Balance at December 31, 2019	$	903,227	$	(483,088	)	$	420,139

Schedule of balance of intangible assets, net

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



	December 31, 2019		December 31, 2018
Intangible assets with indefinite lives	$	10,142	$	10,142
Intangible assets with definite lives, net	171,438		195,557
Total intangible assets, net	$	181,580	$	205,699

Schedule of intangible assets with definite lives

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



	Weighted Average Amortization Life	Cost		Accumulated Amortization			Net
Technology	4.2 years	$	116,200	$	(48,938	)	$	67,262
Customer lists	13.2 years	77,300		(12,452		)	64,848
Trademarks and tradenames	4.9 years	17,200		(6,407		)	10,793
Website content	3.0 years	51,000		(22,467		)	28,533
Other	3.0 years	5		(3		)	2
Balance at December 31, 2019		$	261,705	$	(90,267	)	$	171,438



	Weighted Average Amortization Life	Cost		Accumulated Amortization			Net
Technology	4.2 years	$	112,400	$	(21,022	)	$	91,378
Customer lists	12.9 years	80,200		(7,746		)	72,454
Trademarks and tradenames	4.7 years	16,742		(3,730		)	13,012
Website content	3.0 years	24,900		(6,192		)	18,708
Other	3.0 years	256		(251		)	5
Balance at December 31, 2018		$	234,498	$	(38,941	)	$	195,557

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



	Amortization Expense
Year ending December 31, 2020	$	53,078
Year ending December 31, 2021	42,738
Year ending December 31, 2022	25,256
Year ending December 31, 2023	8,602
Year ending December 31, 2024	6,747
Thereafter	35,017
Total intangible assets with definite lives, net	$	171,438

ASSETS HELD FOR SALE (Tables)

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Disclosure of long lived assets held-for-sale

Property and equipment classified as held for sale at December 31, 2018 is as follows (in thousands):



	Amount
Land	$	5,818
Building	14,984
Site improvements	950
Computer equipment and capitalized software	166
Furniture and other equipment	145
Total gross property and equipment	22,063
Accumulated depreciation	(1,278		)
Total property and equipment, net	$	20,785

Intangible assets classified as held for sale at December 31, 2018 is as follows (in thousands):



	Amount
Tenant leases	$	961
Total gross intangible assets	961
Accumulated amortization	(468		)
Total intangible assets, net	$	493

BUSINESS ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Schedule of assets acquired and liabilities assumed in a business acquisition

During 2017, the Company completed the determination of the final allocation of purchase price to the assets acquired and liabilities assumed as follows (in thousands):



	Fair Value
Net working capital	$	921
Intangible assets	9,700
Goodwill	23,784
Deferred tax liabilities	(4,176		)
Noncontrolling interest	(637		)
Total purchase price	$	29,592

In 2019, the Company completed the determination of the final allocation of purchase price to the assets acquired and liabilities assumed as follows (in thousands):



	Fair Value
Net working capital	$	303
Fixed assets	76
Intangible assets	8,900
Goodwill	11,280
Net deferred tax liabilities	(2,688		)
Total purchase price	$	17,871

In 2019, the Company completed the determination of the final allocation of purchase price to the assets acquired and liabilities assumed as follows (in thousands):



	Fair Value
Net working capital	$	8,521
Fixed assets	1,509
Intangible assets	120,400
Goodwill	182,896
Other noncurrent assets	29
Total purchase price	$	313,355

During 2018, the Company completed the determination of the final allocation of purchase price to the assets acquired and liabilities assumed as follows (in thousands):



	Fair Value
Net working capital	$	5,429
Intangible assets	19,600
Goodwill	40,856
Deferred tax liabilities	(5,467		)
Total purchase price	$	60,418

During 2017, the Company completed the determination of the final allocation of purchase price to the assets acquired and liabilities assumed as follows (in thousands):



	Fair Value
Net working capital and other assets	$	42
Fixed assets	146
Intangible assets	4,300
Goodwill	13,738
Total purchase price	$	18,226

In 2019, the Company completed the determination of the final allocation of purchase price to the assets acquired and liabilities assumed as follows (in thousands):



	Fair Value
Net working capital	$	2,502
Fixed assets	68
Intangible assets	31,600
Goodwill	71,739
Net noncurrent assets	323
Total purchase price	$	106,232

During 2017, the Company completed the determination of the final allocation of purchase price to the assets acquired and liabilities assumed as follows (in thousands):



	Fair Value
Intangible assets	$	9,600
Goodwill	19,389
Total purchase price	$	28,989

Schedule of definite-lived intangible assets acquired in a business acquisition

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



	Fair Value		Weighted Average Amortization Life
Technology	$	4,200	3 years
Content	26,100		3 years
Trademarks and tradenames	1,300		5 years
Total intangible assets	$	31,600	3.1 years

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



	Fair Value		Weighted Average Amortization Life
Content	$	16,100	3 years
Customer lists	2,500		10 years
Trademarks and tradenames	1,000		5 years
Total intangible assets	$	19,600	4.0 years

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



	Fair Value		Weighted Average Amortization Life
Technology	$	68,900	4 years
Customer lists	42,700		14.7 years
Content	1,000		3 years
Trademarks and tradenames	7,800		5 years
Total intangible assets	$	120,400	7.9 years

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



	Fair Value		Weighted Average Amortization Life
Technology	$	200	3 years
Customer lists	1,100		9 years
Trade name and trademarks	600		4 years
Content	7,800		3 years
Total intangible assets	$	9,700	3.7 years

The fair value of the intangible assets with definite lives is 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):



	Fair Value		Weighted Average Amortization Life
Technology	$	8,600	5 years
Customer lists	600		8 years
Trade name and trademarks	400		4 years
Total intangible assets	$	9,600	5.2 years

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



	Fair Value		Weighted Average Amortization Life
Technology	$	400	3 years
Customer lists	3,300		10 years
Trade name and trademarks	600		5 years
Total intangible assets	$	4,300	8.7 years

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



	2019		2018		2017
	(in thousands)
Pro forma revenue	$	1,107,118	$	934,209	$	729,370
Pro forma net income from continuing operations	$	39,173	$	104,153	$	(2,998	)



	2018		2017
	(in thousands)
Pro forma revenue	$	900,978	$	701,184
Pro forma net income from continuing operations	$	110,015	$	1,164

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2019

Payables and Accruals [Abstract]

Schedule of accrued expenses and other current liabilities

Accrued expenses and other current liabilities consist of the following (in thousands):



	December 31, 2019		December 31, 2018
Accrued advertising expense	$	65,836	$	60,268
Accrued compensation and benefits	10,540		6,381
Accrued professional fees	1,560		2,549
Customer deposits and escrows	6,920		6,913
Contribution to LendingTree Foundation	3,333		3,333
Current lease liabilities	6,885		—
Other	17,681		13,746
Total accrued expenses and other current liabilities	$	112,755	$	93,190

LEASES (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Summary of Lease Costs

Lease expense, which is included in general and administrative expense on the accompanying consolidated statements of operations and comprehensive income, consists of the following (in thousands):



	Year Ended December 31, 2019
Operating lease cost	$	6,346
Short-term lease cost	86
Total lease cost	$	6,432

Weighted average remaining lease term and discount rate for operating leases are as follows:



	December 31, 2019
Weighted average remaining lease term	5.0 years
Weighted average discount rate	4.7	%

Schedule of Supplemental Cash Flow

Supplemental cash flow information related to leases is as follows (in thousands):



	Year Ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	6,779
Right-of-use assets obtained in exchange for new operating lease liabilities	$	21,969

Schedule of Lease Maturity

Maturities of lease liabilities as of December 31, 2019 are as follows (in thousands):



	Operating Leases
Year ending December 31, 2020	$	8,060
Year ending December 31, 2021	5,731
Year ending December 31, 2022	5,498
Year ending December 31, 2023	5,191
Year ending December 31, 2024	3,476
Thereafter	3,811
Total lease payments	31,767
Less: Interest	3,524
Present value of lease liabilities	$	28,243

SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted earnings per share

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



	Year Ended December 31,
	2019	2018	2017
Weighted average basic common shares	12,834	12,504	11,945
Effect of stock options	747	1,043	1,626
Effect of dilutive share awards	167	153	111
Effect of Convertible Senior Notes and warrants	871	397	—
Weighted average diluted common shares	14,619	14,097	13,682

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [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):



	Year Ended December 31, 2019
	2019		2018		2017
Cost of revenue	$	755	$	378	$	175
Selling and marketing expense	5,785		3,568		3,973
General and administrative expense	39,177		34,325		16,874
Product development	6,450		6,094		2,339
Total non-cash compensation	$	52,167	$	44,365	$	23,361

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)
Outstanding at December 31, 2018	940,533		$	65.12
Granted	43,704		323.82
Exercised	(167,686	)	52.08
Forfeited	(38,680	)	318.36
Expired	—		—
Outstanding at December 31, 2019	777,871		$	69.87	4.28	$	182,809
Options exercisable	668,976		$	39.73	3.61	$	176,710

(a)

A summary of changes in outstanding stock options with market conditions at target 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)
Outstanding at December 31, 2018	447,193	$	200.51
Granted	16,247	308.96
Exercised	—	—
Forfeited	—	—
Expired	—	—
Outstanding at December 31, 2019	463,440	$	204.31	7.67	$	48,178
Options exercisable	—	$	—	0.00	$	—

(a)

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



	Number of Options with Performance Conditions		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
			(per option)		(in years)	(in thousands)
Outstanding at December 31, 2018	37,877		$	308.90
Granted	—		—
Exercised	—		—
Forfeited	—		—
Expired	(37,877	)	308.90
Outstanding at December 31, 2019	—		$	—	0.00	$	—
Options exercisable	—		$	—	0.00	$	—

Summary of stock option valuation assumptions



	Year Ended December 31,
	2019	2018	2017
Expected term ⁽¹⁾	5.00 - 6.25 years	5.00 - 6.71 years	5.00 - 7.00 years
Expected dividend ⁽²⁾	—	—	—
Expected volatility ⁽³⁾	51% - 55%	50% - 53%	51% - 52%
Risk-free interest rate ⁽⁴⁾	1.46% - 2.55 %	2.33% - 3.06%	1.74% - 2.24%


(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 during the years ended December 31, 2019, 2018 and 2017, 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.



	Year Ended December 31,
	2019	2018	2017
Expected term ⁽¹⁾	7.00 years	7.00 - 7.15 years	7.50 years
Expected dividend ⁽²⁾	—	—	—
Expected volatility ⁽³⁾	51%	50%	50%
Risk-free interest rate ⁽⁴⁾	2.54%	2.38% - 2.81%	2.12%


(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 during the years ended December 31, 2019, 2018 and 2017, 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)



	Year ended December 31, 2017
Expected term⁽¹⁾	5.50 - 6.00 years
Expected dividend ⁽²⁾	—
Expected volatility ⁽³⁾	51%
Risk-free interest rate ⁽⁴⁾	2.16% - 2.23%


(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 during the year ended December 31, 2017, 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)

Schedule of changes in outstanding non-vested RSUs, restricted stock and RSUs with performance conditions

A summary of changes in outstanding nonvested RSAs with market conditions at target is as follows:



	RSAs with Market Conditions
	Number of Awards	Weighted Average Grant Date Fair Value
		(per unit)
Nonvested at December 31, 2018	26,674	$	340.25
Granted	—	—
Vested	—	—
Forfeited	—	—
Nonvested at December 31, 2019	26,674	$	340.25

A summary of changes in outstanding nonvested RSUs is as follows:



	RSUs
	Number of Units		Weighted Average Grant Date Fair Value
			(per unit)
Nonvested at December 31, 2018	201,568		$	225.48
Granted ^(a)	62,248		318.04
Vested	(82,020	)	192.89
Forfeited	(36,857	)	287.73
Nonvested at December 31, 2019	144,939		$	267.85

(a)

The grant date fair value per share of the RSUs is calculated as the closing market price of LendingTree's common stock at the time of grant.

A summary of 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 December 31, 2018	92,481		$	182.28
Granted	—		—
Vested	(46,785	)	207.36
Forfeited	(31,049	)	212.09
Nonvested at December 31, 2019	14,647		$	210.55

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



	RSAs with Performance Conditions
	Number of Awards		Weighted Average Grant Date Fair Value
			(per unit)
Nonvested at December 31, 2018	71,412		$	340.25
Granted	—		—
Vested	(23,804	)	340.25
Forfeited	—		—
Nonvested at December 31, 2019	47,608		$	340.25

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of components of the income tax provision (benefit)

The components of the income tax expense (benefit) are as follows (in thousands):



	Year Ended December 31,
	2019			2018			2017
Current income tax expense (benefit):
Federal	$	201		$	(1,470	)	$	10,055
State	(125		)	(204		)	2,606
Current income tax expense (benefit)	76			(1,674		)	12,661
Deferred income tax (benefit) provision:
Federal	(10,857		)	(44,950		)	(3,805		)
State	2,302			(18,951		)	(2,565		)
Deferred income tax benefit	(8,555		)	(63,901		)	(6,370		)
Income tax (benefit) expense	$	(8,479	)	$	(65,575	)	$	6,291

Schedule of reconciliation of total income tax provision to amounts computed by applying statutory federal income tax rate to income (loss) from continuing operations before income taxes



	Year Ended December 31,
	2019			2018			2017
Federal statutory income tax	$	6,506		$	9,186		$	8,998
State income taxes, net	(1,832		)	(14,884		)	(268		)
Excess tax deductions on non-cash compensation	(13,971		)	(59,601		)	(11,134		)
Research and experimentation tax credit	(5,794		)	(2,523		)	(1,318		)
Impact of certain state legislation, net	3,932			—			—
Nondeductible executive compensation	988			163			21
Change in (release of) valuation allowance	954			(12		)	593
Uncertain tax positions	922			289			170
Nondeductible meals & entertainment	428			310			90
Impact of Tax Cuts and Jobs Act	—			270			9,062
Other, net	(612		)	1,227			77
Income tax (benefit) expense	$	(8,479	)	$	(65,575	)	$	6,291

Schedule of components of the deferred tax assets and deferred tax liabilities

The tax effects of cumulative temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows (in thousands):



	December 31,
	2019			2018
Deferred tax assets:
Provision for accrued expenses	$	12,234		$	5,953
Leasing ^(a)	7,299			—
Net operating loss carryforwards ^(b)	56,450			59,817
Non-cash compensation expense	15,805			12,505
Interest limitation	987			3,532
Contingent liabilities	9,366			3,053
Tax credits	6,124			1,569
Other	1,624			2,976
Total gross deferred tax assets	109,889			89,405
Less: valuation allowance ^(c)	(4,102		)	(2,229		)
Total deferred tax assets, net of the valuation allowance	105,787			87,176
Deferred tax liabilities:
Intangible and other assets	(1,744		)	(4,623		)
Leasing ^(a)	(6,596		)	—
Other	(1,835		)	(892		)
Total gross deferred tax liabilities	(10,175		)	(5,515		)
Net deferred taxes	$	95,612		$	81,661


(a)	As of December 31, 2019, the adoption of ASC Topic 842 has no material impact to the effective tax rate. Related deferred tax positions are individually disclosed as components of deferred tax as of December 31, 2019.

(b)


(c)	The valuation allowance is related to items for which it is "more likely than not" that the tax benefit will not be realized.

Deferred income taxes are presented in the accompanying consolidated balance sheets as follows (in thousands):



	December 31,
	2019		2018
Deferred income tax assets	$	87,664	$	79,289
Non-current assets of discontinued operations	7,948		3,266
Deferred income tax liabilities	—		(894		)
Net deferred taxes	$	95,612	$	81,661

Schedule of the deferred tax valuation allowance reconciliation

A reconciliation of the beginning and ending balances of the deferred tax valuation allowance is as follows (in thousands):



	Year Ended December 31,
	2019		2018			2017
Balance, beginning of the period	$	2,229	$	2,694		$	2,101
Charges to earnings	1,873		(465		)	593
Balance, end of the period	$	4,102	$	2,229		$	2,694

Schedule of reconciliation of beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties

A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties, is as follows (in thousands):



	Year Ended December 31,
	2019		2018
Balance, beginning of the period	$	1,127	$	748
Additions based on tax positions of the current period	525		249
Additions based on tax positions of the prior period	344		130
Balance, end of the period	$	1,996	$	1,127

DEBT (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Debt

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):



	December 31, 2019		December 31, 2018
Gross carrying amount	$	299,991	$	300,000
Unamortized debt discount	31,789		43,805
Debt issuance costs	3,811		5,252
Net carrying amount	$	264,391	$	250,943

COMMITMENTS (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of funding commitments that could potentially require performance in the event of demands by third parties or contingent events

The Company has funding commitments that could potentially require performance in the event of demands by third parties or contingent events, as follows (in thousands):



	Commitments Due By Period
	Total		Less Than 1 year		1-3 years		3-5 years		More Than 5 years
Surety bonds ^(a)	$	5,278	$	5,253	$	25	$	—	$	—

FAIR VALUE MEASUREMENT (Tables)

12 Months Ended

Dec. 31, 2019

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 years ended December 31, 2019, 2018 and 2017 are as follows (in thousands):



	Year Ended December 31,
	2019			2018			2017
Contingent consideration, beginning of period	$	38,837		$	57,349		$	23,100
Transfers into Level 3	—			—			—
Transfers out of Level 3	—			—			—
Total net losses included in earnings (realized and unrealized)	28,402			10,788			23,931
Purchases, sales and settlements:
Additions	—			19,700			11,318
Payments	(33,775		)	(49,000		)	(1,000		)
Contingent consideration, end of period	$	33,464		$	38,837		$	57,349

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment



	Year Ended December 31, 2019
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	277,935	$	515,037	$	284,792	$	28,839	$	1,106,603
Segment cost of revenue and marketing expense	174,814		301,852		170,153		27,466		674,285
Segment profit	103,121		213,185		114,639		1,373		432,318
Cost of revenue (exclusive of cost of advertising re-sold to third parties included above)									45,624
Brand and other marketing expense									83,650
General and administrative expense									116,847
Product development									39,953
Depreciation									10,998
Amortization of intangibles									55,241
Change in fair value of contingent consideration									28,402
Severance									1,026
Litigation settlements and contingencies									(151		)
Operating income									50,728
Interest expense, net									(20,271		)
Other income									524
Income before income taxes and discontinued operations									$	30,981



	Year Ended December 31, 2018
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	319,176	$	395,615	$	31,369	$	18,705	$	764,865
Segment cost of revenue and marketing expense	214,475		207,891		20,011		17,351		459,728
Segment profit	104,701		187,724		11,358		1,354		305,137
Cost of revenue (exclusive of cost of advertising re-sold to third parties included above)									27,587
Brand and other marketing expense									49,375
General and administrative expense									101,219
Product development									26,958
Depreciation									7,385
Amortization of intangibles									23,468
Change in fair value of contingent consideration									10,788
Severance									2,352
Litigation settlements and contingencies									(186		)
Operating income									56,191
Interest expense, net									(12,437		)
Other expense									(10		)
Income before income taxes and discontinued operations									$	43,744



	Year Ended December 31, 2018
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	319,176	$	395,615	$	31,369	$	18,705	$	764,865
Segment cost of revenue and marketing expense	214,475		207,891		20,011		17,351		459,728
Segment profit	104,701		187,724		11,358		1,354		305,137
Cost of revenue (exclusive of cost of advertising re-sold to third parties included above)									27,587
Brand and other marketing expense									49,375
General and administrative expense									101,219
Product development									26,958
Depreciation									7,385
Amortization of intangibles									23,468
Change in fair value of contingent consideration									10,788
Severance									2,352
Litigation settlements and contingencies									(186		)
Operating income									56,191
Interest expense, net									(12,437		)
Other expense									(10		)
Income before income taxes and discontinued operations									$	43,744



	Year Ended December 31, 2017
	Home		Consumer		Insurance		Other			Total
	(in thousands)
Revenue	$	340,377	$	276,091	$	136	$	1,132		$	617,736
Segment cost of revenue and marketing expense	204,135		160,384		70		1,756			366,345
Segment profit (loss)	136,242		115,707		66		(624		)	251,391
Cost of revenue (exclusive of cost of advertising re-sold to third parties included above)										17,223
Brand and other marketing expense										66,439
General and administrative expense										71,541
Product development										17,925
Depreciation										7,085
Amortization of intangibles										12,992
Change in fair value of contingent consideration										23,931
Severance										404
Litigation settlements and contingencies										718
Operating income										33,133
Interest expense, net										(7,028		)
Other expense										(396		)
Income before income taxes and discontinued operations										$	25,709

QUARTERLY FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Quarterly Financial Information [Abstract]

Schedule of quarterly financial information

The following tables set forth summary financial information for the years ended December 31, 2019 and 2018:



	Q1			Q2			Q3			Q4
	(in thousands, except per share amounts)
2019
Revenue	$	262,390		$	278,421		$	310,605		$	255,187
Operating (loss) income ⁽¹⁾	(1,802		)	12,316			31,193			9,021
Income from continuing operations ⁽¹⁾	550			12,981			24,463			1,466
(Loss) income from discontinued operations	(1,062		)	(763		)	(20,199		)	392
Net (loss) income and comprehensive (loss) income	$	(512	)	$	12,218		$	4,264		$	1,858
Income per share from continuing operations:
Basic	$	0.04		$	1.01		$	1.90		$	0.11
Diluted	$	0.04		$	0.87		$	1.67		$	0.10
(Loss) income per share from discontinued operations:
Basic	$	(0.08	)	$	(0.06	)	$	(1.57	)	$	0.03
Diluted	$	(0.07	)	$	(0.05	)	$	(1.38	)	$	0.03
Net (loss) income per share:
Basic	$	(0.04	)	$	0.95		$	0.33		$	0.14
Diluted	$	(0.04	)	$	0.82		$	0.29		$	0.13



	Q1			Q2			Q3			Q4
	(in thousands, except per share amounts)
2018
Revenue	$	181,035		$	184,101		$	197,057		$	202,672
Operating income ⁽¹⁾	15,350			18,123			20,290			2,428
Income from continuing operations ⁽¹⁾	35,857			44,849			28,362			251
Loss from discontinued operations	(4,333		)	(2,302		)	(2,634		)	(3,551		)
Net income (loss) and comprehensive income (loss)	$	31,524		$	42,547		$	25,728		$	(3,300	)
Income per share from continuing operations:
Basic	$	2.97		$	3.61		$	2.22		$	0.02
Diluted	$	2.41		$	3.17		$	2.05		$	0.02
Loss per share from discontinued operations:
Basic	$	(0.36	)	$	(0.19	)	$	(0.21	)	$	(0.28	)
Diluted	$	(0.29	)	$	(0.16	)	$	(0.19	)	$	(0.26	)
Net income (loss) per share:
Basic	$	2.61		$	3.43		$	2.01		$	(0.26	)
Diluted	$	2.12		$	3.01		$	1.86		$	(0.24	)

(1)

SIGNIFICANT ACCOUNTING POLICIES (Details - Rev, AR & Seg) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2018 segment	Dec. 31, 2019 USD ($)	Dec. 31, 2019	Dec. 31, 2019 segment	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of the period		$ 1,143			$ 675	$ 1,059
Charges to earnings		1,697			880	195
Write off of uncollectible accounts receivable		(1,374)			(412)	(579)
Balance, end of the period		$ 1,466			$ 1,143	$ 675
Number of reportable segments	1		3	3

SIGNIFICANT ACCOUNTING POLICIES (Details - PP&E & Advertising) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019
Property and Equipment
Assets	$ 947,969	$ 896,115
Liabilities	545,643	549,907
Advertising
Advertising Expense	$ 688,200	$ 469,900	$ 410,800
Computer equipment and capitalized software \| Minimum
Property and Equipment
Depreciation period	1 year
Computer equipment and capitalized software \| Maximum
Property and Equipment
Depreciation period	5 years
Furniture and other equipment
Property and Equipment
Depreciation period	7 years
Software development \| Minimum
Property and Equipment
Depreciation period	1 year
Software development \| Maximum
Property and Equipment
Depreciation period	5 years
Aircraft and automobile \| Minimum
Property and Equipment
Depreciation period	5 years
Aircraft and automobile \| Maximum
Property and Equipment
Depreciation period	10 years
Accounting Standards Update 2016-02 [Member]
Property and Equipment
Assets				$ 8,800
Liabilities				$ 8,800

SIGNIFICANT ACCOUNTING POLICIES (Details - Taxes) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2018	Dec. 31, 2016
Accounting Policies [Abstract]
Change in Accounting Estimate, Amount					$ 1.0
Excess tax benefit		$ 17.1	$ 77.6	$ 12.9
Provisional estimate for remeasurement of deferred tax assets and liabilities from Tax Cuts and Jobs Act	$ 9.1			$ 9.1
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets						$ 1.4

SIGNIFICANT ACCOUNTING POLICIES (Details - Concentration Risk) - Revenue from Contract with Customer Benchmark [Member] - Customer concentration - customer	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Certain Risks and Concentrations
Number of major customers	1	0	1
Customer one
Certain Risks and Concentrations
Concentration risk (as a percent)	12.00%
Customer two
Certain Risks and Concentrations
Concentration risk (as a percent)			11.00%

SIGNIFICANT ACCOUNTING POLICIES SIGNIFICANT ACCOUNTING POLICIES (Details - ASC 606) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid and other current assets	$ 15,516	$ 16,428	$ 13,784
Deferred income tax assets	87,664	79,289	19,626
Accumulated deficit	$ (592,654)	(610,482)	$ (706,981)
Balances without adoption of ASC Topic 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid and other current assets		11,881
Deferred income tax assets		20,156
Accumulated deficit		(708,354)
Adjustments due to ASC Topic 606 \| Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid and other current assets		1,903
Deferred income tax assets		(530)
Accumulated deficit		$ 1,373

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
REVENUE (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Contract Asset	$ 6,500				$ 4,800				$ 6,500	$ 4,800
Contract Liability	600				400				600	400
Revenue recognized from prior period									400
Contract with Customer, Liability, Cumulative Catch-up Adjustment to Revenue, Change in Estimate of Transaction Price									4,400	700
Disaggregation of Revenue [Line Items]
Revenue	$ 255,187	$ 310,605	$ 278,421	$ 262,390	$ 202,672	$ 197,057	$ 184,101	$ 181,035	1,106,603	764,865	$ 617,736
Other Products And Services
Disaggregation of Revenue [Line Items]
Revenue									28,839	18,705	1,132
Home
Disaggregation of Revenue [Line Items]
Revenue									277,935	319,176	340,377
Consumer
Disaggregation of Revenue [Line Items]
Revenue									515,037	395,615	276,091
Credit Cards
Disaggregation of Revenue [Line Items]
Revenue									211,294	165,776	147,028
Personal Loans
Disaggregation of Revenue [Line Items]
Revenue									152,729	134,199	88,244
Other Consumer
Disaggregation of Revenue [Line Items]
Revenue									151,014	95,640	40,819
Insurance
Disaggregation of Revenue [Line Items]
Revenue									$ 284,792	$ 31,369	$ 136

CASH AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 60,243	$ 105,102
Restricted cash and cash equivalents	96	56
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 60,339	$ 105,158	$ 372,641	$ 95,220

PROPERTY AND EQUIPMENT - Schedule of property and equipment, net (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property and Equipment
Total gross property and equipment	$ 49,342	$ 37,062
Accumulated depreciation	(17,979)	(13,887)
Total property and equipment, net	31,363	23,175
Computer equipment and capitalized software
Property and Equipment
Total gross property and equipment	28,425	22,847
Leasehold improvements
Property and Equipment
Total gross property and equipment	7,751	4,651
Furniture and other equipment
Property and Equipment
Total gross property and equipment	3,993	1,935
Aircraft and automobile
Property and Equipment
Total gross property and equipment	2,621	2,621
Projects in progress
Property and Equipment
Total gross property and equipment	$ 6,552	$ 5,008

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Millions	12 Months Ended
PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property and Equipment
Unamortized capitalized software development costs	$ 19.9	$ 16.2
Capitalized software development amortization expense	8.6	6.1	$ 5.7
Long-lived assets	$ 0.1	$ 0.1

GOODWILL AND INTANGIBLE ASSETS (Details - Balance Sheet)					1 Months Ended	6 Months Ended	12 Months Ended
	Jan. 10, 2019 USD ($)	Oct. 31, 2018 USD ($)	Jul. 23, 2018 USD ($)	Jun. 11, 2018 USD ($)	Nov. 30, 2018 segment	Jun. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 USD ($) segment	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Goodwill [Line Items]
Impairment losses during period related to goodwill							$ 0
Balance of goodwill and intangible assets, net
Goodwill							903,227,000	$ 903,227,000	$ 903,227,000	$ 831,435,000	$ 596,456,000
Accumulated impairment losses							(483,088,000)	(483,088,000)	(483,088,000)	(483,088,000)	(483,088,000)
Net goodwill							420,139,000	420,139,000	420,139,000	348,347,000	113,368,000
Intangible assets with indefinite lives							10,142,000	10,142,000	10,142,000	10,142,000
Intangible assets with definite lives, net							171,438,000	171,438,000	171,438,000	195,557,000
Total intangible assets, net							181,580,000	$ 181,580,000	$ 181,580,000	205,699,000
Acquisition related costs							600,000			6,900,000	$ 1,000,000.0
Number of reportable segments					1			3	3
Impairment charges related to trade names and trademarks							0
Ovation
Goodwill [Line Items]
Total purchase price				$ 17,900,000			17,871,000
Increase to goodwill due to acquisitions							20,000			11,260,000
Impairment losses during period related to goodwill							0			0
Balance of goodwill and intangible assets, net
Net goodwill				$ 11,300,000			11,280,000	$ 11,280,000	$ 11,280,000
Acquisition related costs							400,000
Student Loan Hero
Goodwill [Line Items]
Total purchase price			$ 60,400,000				60,418,000
Increase to goodwill due to acquisitions										40,856,000
Impairment losses during period related to goodwill										0
Balance of goodwill and intangible assets, net
Net goodwill			$ 40,900,000				40,856,000	40,856,000	40,856,000
Acquisition related costs							500,000
QuoteWizard
Goodwill [Line Items]
Total purchase price		$ 313,400,000					313,355,000
Increase to goodwill due to acquisitions							33,000			182,863,000
Impairment losses during period related to goodwill							0			$ 0
Balance of goodwill and intangible assets, net
Net goodwill		$ 182,900,000					182,896,000	182,896,000	182,896,000
Acquisition related costs							4,800,000
ValuePenguin
Goodwill [Line Items]
Total purchase price	$ 106,200,000						106,232,000
Earnings of acquiree since acquisition date						$ 3,100,000
Increase to goodwill due to acquisitions							71,739,000
Impairment losses during period related to goodwill							0
Balance of goodwill and intangible assets, net
Net goodwill	$ 71,700,000						71,739,000	71,739,000	71,739,000
Revenue of acquirees since acquisition date							19,800,000
Acquisition related costs							100,000
Home
Balance of goodwill and intangible assets, net
Goodwill							59,300,000	59,300,000	59,300,000
Consumer
Balance of goodwill and intangible assets, net
Goodwill							166,100,000	166,100,000	166,100,000
Insurance
Balance of goodwill and intangible assets, net
Goodwill							$ 194,700,000	$ 194,700,000	$ 194,700,000

GOODWILL AND INTANGIBLE ASSETS (Details - Definite Lived Intangibles) - USD ($) $ in Thousands		12 Months Ended
	Jan. 10, 2019	Dec. 31, 2019	Dec. 31, 2018
Intangible assets with definite lives
Cost		$ 261,705	$ 234,498
Accumulated Amortization		(90,267)	(38,941)
Net		171,438	195,557
Technology
Intangible assets with definite lives
Cost		116,200	112,400
Accumulated Amortization		(48,938)	(21,022)
Net		$ 67,262	$ 91,378
Technology \| Weighted Average
Intangible assets with definite lives
Weighted Average Amortization Life		4 years 2 months 12 days	4 years 2 months 12 days
Customer lists
Intangible assets with definite lives
Cost		$ 77,300	$ 80,200
Accumulated Amortization		(12,452)	(7,746)
Net		$ 64,848	$ 72,454
Customer lists \| Weighted Average
Intangible assets with definite lives
Weighted Average Amortization Life		13 years 2 months 12 days	12 years 10 months 24 days
Trademarks and trade names
Intangible assets with definite lives
Cost		$ 17,200	$ 16,742
Accumulated Amortization		(6,407)	(3,730)
Net		$ 10,793	$ 13,012
Trademarks and trade names \| Weighted Average
Intangible assets with definite lives
Weighted Average Amortization Life		4 years 10 months 24 days	4 years 8 months 12 days
Tenant leases
Intangible assets with definite lives
Accumulated Amortization			$ (468)
Website content
Intangible assets with definite lives
Cost		$ 51,000	24,900
Accumulated Amortization		(22,467)	(6,192)
Net		$ 28,533	$ 18,708
Website content \| Weighted Average
Intangible assets with definite lives
Weighted Average Amortization Life		3 years	3 years
Other
Intangible assets with definite lives
Cost		$ 5	$ 256
Accumulated Amortization		(3)	(251)
Net		$ 2	$ 5
Other \| Weighted Average
Intangible assets with definite lives
Weighted Average Amortization Life		3 years	3 years
ValuePenguin
Intangible assets with definite lives
Total intangible assets with definite lives, net	$ 31,600
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years 1 month 6 days
ValuePenguin \| Technology
Intangible assets with definite lives
Total intangible assets with definite lives, net	$ 4,200
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years
ValuePenguin \| Trademarks and trade names
Intangible assets with definite lives
Total intangible assets with definite lives, net	$ 1,300
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 years
ValuePenguin \| Website content
Intangible assets with definite lives
Total intangible assets with definite lives, net	$ 26,100
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years

GOODWILL AND INTANGIBLE ASSETS (Details - 5yr Definite Lived Intangibles Amortization) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Amortization of intangible assets with definite lives computed on a straight-line basis
Year ending December 31, 2020	$ 53,078
Year ending December 31, 2021	42,738
Year ending December 31, 2022	25,256
Year ending December 31, 2023	8,602
Year ending December 31, 2024	6,747
Thereafter	35,017
Net	$ 171,438	$ 195,557

ASSETS HELD FOR SALE ASSETS HELD FOR SALE - Schedule for asset acquisition (Details) $ in Millions	1 Months Ended		12 Months Ended
	Nov. 30, 2018 segment	Dec. 31, 2016 USD ($) building	Dec. 31, 2019	Dec. 31, 2019 segment
Property, Plant and Equipment [Line Items]
Number of reportable segments	1		3	3
Two Office Buildings In Charlotte, NC
Property, Plant and Equipment [Line Items]
Number Of Office Buildings Acquired \| building		2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		$ 23.5
Acquisition Costs, Period Cost		$ 0.1

ASSETS HELD FOR SALE ASSETS HELD FOR SALE - Schedule for assets held for sale (Details) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Nov. 30, 2018 building segment	Jun. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 USD ($) segment	Dec. 31, 2018 USD ($)
Long Lived Assets Held-for-sale [Line Items]
Number Of Buildings Held For Sale \| building	2
Assets held for sale			$ 0	$ 0	$ 21,328
Assets Held-For-Sale, Not Part Of Disposal Group, Property, Plant, And Equipment, Gross					22,063
Assets Held-For-Sale, Not Part Of Disposal Group, Property, Plant, And Equipment, Accumulated Depreciation, Depletion And Amortization					(1,278)
Assets Held-For-Sale, Not Part Of Disposal Group, Property, Plant, And Equipment, Net					20,785
Assets Held-For-Sale, Not Part Of Disposal Group, Finite-Lived Intangible Assets, Gross					961
Accumulated Amortization			$ (90,267)	$ (90,267)	(38,941)
Assets Held-For-Sale, Not Part Of Disposal Group, Finite-Lived Intangible Assets, Net					493
Disposal Group, Including Discontinued Operation, Consideration		$ 24,400
Number of reportable segments	1		3	3
Land
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale					5,818
Building
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale					14,984
Site improvements
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale					950
Computer equipment and capitalized software
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale					166
Furniture and other equipment
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale					145
Tenant leases
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale					961
Accumulated Amortization					$ (468)
Two Office Buildings In Charlotte, NC \| Discontinued Operations, Disposed of by Sale [Member]
Long Lived Assets Held-for-sale [Line Items]
Disposal Group, Including Discontinued Operation, Closing Fee		300
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax		$ 2,700

BUSINESS ACQUISITIONS (Details)								3 Months Ended									6 Months Ended	12 Months Ended
BUSINESS ACQUISITIONS (Details)	Jan. 10, 2019 USD ($)	Oct. 31, 2018 USD ($) payment	Jul. 23, 2018 USD ($)	Jun. 11, 2018 USD ($) payment	Sep. 19, 2017 USD ($) payment	Jun. 20, 2017 USD ($) shares	Jun. 14, 2017 USD ($) payment	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Sep. 30, 2017 USD ($)	Jun. 30, 2019 USD ($)	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Business Acquisition [Line Items]
Goodwill									$ 420,139,000			$ 348,347,000						$ 420,139,000	$ 348,347,000	$ 113,368,000
Acquisition related costs																		600,000	6,900,000	1,000,000.0
Current contingent consideration									23,400,000									12,500,000	21,912,000	0
Contingent consideration payments									13,900,000									$ 21,275,000	27,588,000	0
Contingent consideration payment, operating									9,500,000
Document Period End Date																		Dec. 31, 2019
Change in fair value of contingent consideration											$ 14,400,000	6,800,000						$ 28,402,000	10,788,000	23,931,000
Contingent consideration arrangements, after tax contingent consideration expense																		21,500,000	7,200,000	1,600,000
Current contingent consideration									9,028,000			11,080,000						9,028,000	11,080,000
Stock granted, net of forfeitures						$ 10,000,000.0
ValuePenguin
Business Acquisition [Line Items]
Acquisition purchase consideration	$ 106,100,000
Total purchase price	106,200,000																	106,232,000
Working capital adjustment	100,000
Goodwill	71,700,000								71,739,000									71,739,000
Revenue of acquirees since acquisition date																		19,800,000
Earnings of acquiree since acquisition date																	$ 3,100,000
Acquisition related costs																		100,000
QuoteWizard
Business Acquisition [Line Items]
Acquisition purchase consideration		$ 299,900,000
Total purchase price		313,400,000																313,355,000
Working capital adjustment		400,000
Goodwill		182,900,000							182,896,000									182,896,000
Acquisition related costs																		4,800,000
Cash on hand		$ 174,900,000
Number of payments \| payment		3
Contingent consideration on acquisition date		$ 13,900,000							24,400,000									24,400,000
Change in fair value of contingent consideration																		27,100,000	6,800,000
Contingent consideration arrangements, after tax contingent consideration expense																			4,900,000	5,900,000
Student Loan Hero
Business Acquisition [Line Items]
Acquisition purchase consideration			$ 60,700,000
Total purchase price			60,400,000															60,418,000
Working capital adjustment			2,000,000.0
Goodwill			40,900,000						40,856,000									40,856,000
Acquisition related costs																		500,000
Severance costs			$ 2,300,000
Ovation
Business Acquisition [Line Items]
Acquisition purchase consideration				$ 12,200,000
Total purchase price				17,900,000														17,871,000
Working capital adjustment				100,000
Goodwill				$ 11,300,000					11,280,000									11,280,000
Acquisition related costs																		400,000
Number of payments \| payment				2
Contingent consideration on acquisition date				$ 5,800,000
Contingent consideration payments									4,400,000
Change in fair value of contingent consideration																			1,600,000
Current contingent consideration									3,100,000									3,100,000
SnapCap
Business Acquisition [Line Items]
Acquisition purchase consideration					$ 11,900,000													0	10,000	11,886,000
Total purchase price					18,200,000														18,226,000
Goodwill					13,700,000							13,738,000							13,738,000
Acquisition related costs																				300,000
Contingent consideration on acquisition date					$ 6,300,000
Contingent consideration payments											3,000,000.0
Change in fair value of contingent consideration																		2,200,000	(300,000)	700,000
Current contingent consideration									5,900,000									5,900,000
Number of contingent consideration payments \| payment					3
Earnout Payment
Business Acquisition [Line Items]
Contingent consideration range, maximum					$ 3,000,000.0
MagnifyMoney
Business Acquisition [Line Items]
Acquisition purchase consideration						29,600,000
Total purchase price																			29,592,000
Goodwill						23,800,000						23,784,000							23,784,000
Acquisition related costs																				400,000
Option to acquire a foreign affiliate						$ 500,000
Option to acquire a foreign affiliate, window						3 years
DepositAccounts
Business Acquisition [Line Items]
Acquisition purchase consideration							$ 24,000,000.0											0	0	25,000,000
Total purchase price							29,000,000.0												28,989,000
Goodwill							19,400,000					19,389,000							19,389,000
Acquisition related costs																				300,000
Contingent consideration range, maximum							9,000,000.0
Contingent consideration on acquisition date							$ 5,000,000.0		$ 0									0
Contingent consideration payments											$ 1,000,000.0	$ 1,000,000.0	$ 1,000,000	$ 1,000,000	$ 1,000,000	$ 1,000,000.0
Contingent consideration payment, operating										$ 2,000,000.0
Change in fair value of contingent consideration																		$ (1,000,000.0)	$ 2,000,000.0	$ 2,000,000
Number of contingent consideration payments \| payment							7
Contingent consideration, individual payments based on specified increases in federal funds interest rates							$ 1,000,000.0
Contingent consideration, one-time performance payment							$ 2,000,000.0
Earnout Payment \| QuoteWizard
Business Acquisition [Line Items]
Contingent consideration range, minimum		0
Contingent consideration range, maximum		23,400,000
Earnout Payment \| Ovation
Business Acquisition [Line Items]
Contingent consideration range, minimum				0
Contingent consideration range, maximum				$ 4,400,000
Earnout Payment \| SnapCap
Business Acquisition [Line Items]
Contingent consideration range, minimum					$ 0
Two Key Employees \| MagnifyMoney
Business Acquisition [Line Items]
Granted (in shares) \| shares						38,468
Third Key Employee \| MagnifyMoney
Business Acquisition [Line Items]
Granted (in shares) \| shares																		19,234
Revolving Credit Facility \| ValuePenguin
Business Acquisition [Line Items]
Proceeds from revolving credit facility	$ 90,000,000.0
Revolving Credit Facility \| QuoteWizard
Business Acquisition [Line Items]
Proceeds from revolving credit facility		$ 125,000,000.0
RSUs
Business Acquisition [Line Items]
Granted (in shares) \| shares																		62,248
Subsequent Event [Member] \| SnapCap
Business Acquisition [Line Items]
Contingent consideration payments								$ 3,000,000.0

BUSINESS ACQUISITIONS (Details - Schedule of Purchase Price Allocation) - USD ($) $ in Thousands								12 Months Ended
	Jan. 10, 2019	Oct. 31, 2018	Jul. 23, 2018	Jun. 11, 2018	Sep. 19, 2017	Jun. 20, 2017	Jun. 14, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill								$ 420,139	$ 348,347	$ 113,368
ValuePenguin
Business Acquisition [Line Items]
Net working capital and other assets								2,502
Fixed assets								68
Intangible assets								31,600
Total intangible assets with definite lives, net	$ 31,600
Goodwill	71,700							71,739
Other noncurrent assets								323
Total purchase price	$ 106,200							106,232
Weighted Average Amortization Life	3 years 1 month 6 days
Student Loan Hero
Business Acquisition [Line Items]
Net working capital and other assets								5,429
Intangible assets								19,600
Total intangible assets with definite lives, net			$ 19,600
Goodwill			40,900					40,856
Deferred tax liabilities								(5,467)
Total purchase price			$ 60,400					60,418
Weighted Average Amortization Life			4 years
QuoteWizard
Business Acquisition [Line Items]
Net working capital and other assets								8,521
Fixed assets								1,509
Intangible assets								120,400
Total intangible assets with definite lives, net		$ 120,400
Goodwill		182,900						182,896
Other noncurrent assets								29
Total purchase price		$ 313,400						313,355
Weighted Average Amortization Life		7 years 10 months 24 days
Ovation
Business Acquisition [Line Items]
Net working capital and other assets								303
Fixed assets								76
Intangible assets								8,900
Total intangible assets with definite lives, net				$ 8,900
Goodwill				11,300				11,280
Deferred tax liabilities								(2,688)
Total purchase price				$ 17,900				$ 17,871
Weighted Average Amortization Life				5 years 4 months 24 days
DepositAccounts
Business Acquisition [Line Items]
Intangible assets							$ 9,600		9,600
Goodwill							19,400		19,389
Total purchase price							$ 29,000		28,989
Weighted Average Amortization Life							5 years 2 months 12 days
MagnifyMoney
Business Acquisition [Line Items]
Net working capital and other assets									921
Intangible assets						$ 9,700			9,700
Goodwill						$ 23,800			23,784
Deferred tax liabilities									(4,176)
Noncontrolling interest									(637)
Total purchase price									29,592
Weighted Average Amortization Life						3 years 8 months 12 days
SnapCap
Business Acquisition [Line Items]
Net working capital and other assets									42
Fixed assets									146
Intangible assets					$ 4,300				4,300
Goodwill					13,700				13,738
Total purchase price					$ 18,200				$ 18,226
Weighted Average Amortization Life					8 years 8 months 12 days

BUSINESS ACQUISITIONS (Details - Schedule of Finite LIved Intangible Assets Acquired) - USD ($) $ in Thousands	Jan. 10, 2019	Oct. 31, 2018	Jul. 23, 2018	Jun. 11, 2018	Sep. 19, 2017	Jun. 20, 2017	Jun. 14, 2017	Dec. 31, 2019	Dec. 31, 2018
ValuePenguin
Business Acquisition [Line Items]
Fair Value	$ 31,600
Weighted Average Amortization Life	3 years 1 month 6 days
Intangible assets								$ 31,600
Student Loan Hero
Business Acquisition [Line Items]
Fair Value			$ 19,600
Weighted Average Amortization Life			4 years
Intangible assets								19,600
QuoteWizard
Business Acquisition [Line Items]
Fair Value		$ 120,400
Weighted Average Amortization Life		7 years 10 months 24 days
Intangible assets								120,400
Ovation
Business Acquisition [Line Items]
Fair Value				$ 8,900
Weighted Average Amortization Life				5 years 4 months 24 days
Intangible assets								$ 8,900
DepositAccounts
Business Acquisition [Line Items]
Weighted Average Amortization Life							5 years 2 months 12 days
Intangible assets							$ 9,600		$ 9,600
MagnifyMoney
Business Acquisition [Line Items]
Weighted Average Amortization Life						3 years 8 months 12 days
Intangible assets						$ 9,700			9,700
SnapCap
Business Acquisition [Line Items]
Weighted Average Amortization Life					8 years 8 months 12 days
Intangible assets					$ 4,300				$ 4,300
Technology \| ValuePenguin
Business Acquisition [Line Items]
Fair Value	$ 4,200
Weighted Average Amortization Life	3 years
Technology \| QuoteWizard
Business Acquisition [Line Items]
Fair Value		$ 68,900
Weighted Average Amortization Life		4 years
Technology \| Ovation
Business Acquisition [Line Items]
Fair Value				$ 6,000
Weighted Average Amortization Life				7 years
Technology \| DepositAccounts
Business Acquisition [Line Items]
Fair Value							$ 8,600
Weighted Average Amortization Life							5 years
Technology \| MagnifyMoney
Business Acquisition [Line Items]
Fair Value						$ 200
Weighted Average Amortization Life						3 years
Technology \| SnapCap
Business Acquisition [Line Items]
Fair Value					$ 400
Weighted Average Amortization Life					3 years
Customer lists \| Student Loan Hero
Business Acquisition [Line Items]
Fair Value			$ 2,500
Weighted Average Amortization Life			10 years
Customer lists \| QuoteWizard
Business Acquisition [Line Items]
Fair Value		$ 42,700
Weighted Average Amortization Life		14 years 8 months 12 days
Customer lists \| Ovation
Business Acquisition [Line Items]
Fair Value				$ 1,900
Weighted Average Amortization Life				1 year
Customer lists \| DepositAccounts
Business Acquisition [Line Items]
Fair Value							$ 600
Weighted Average Amortization Life							8 years
Customer lists \| MagnifyMoney
Business Acquisition [Line Items]
Fair Value						$ 1,100
Weighted Average Amortization Life						9 years
Customer lists \| SnapCap
Business Acquisition [Line Items]
Fair Value					$ 3,300
Weighted Average Amortization Life					10 years
Website content \| ValuePenguin
Business Acquisition [Line Items]
Fair Value	$ 26,100
Weighted Average Amortization Life	3 years
Website content \| Student Loan Hero
Business Acquisition [Line Items]
Fair Value			$ 16,100
Weighted Average Amortization Life			3 years
Website content \| QuoteWizard
Business Acquisition [Line Items]
Fair Value		$ 1,000
Weighted Average Amortization Life		3 years
Website content \| MagnifyMoney
Business Acquisition [Line Items]
Fair Value						$ 7,800
Weighted Average Amortization Life						3 years
Trademarks and trade names \| ValuePenguin
Business Acquisition [Line Items]
Fair Value	$ 1,300
Weighted Average Amortization Life	5 years
Trademarks and trade names \| Student Loan Hero
Business Acquisition [Line Items]
Fair Value			$ 1,000
Weighted Average Amortization Life			5 years
Trademarks and trade names \| QuoteWizard
Business Acquisition [Line Items]
Fair Value		$ 7,800
Weighted Average Amortization Life		5 years
Trademarks and trade names \| Ovation
Business Acquisition [Line Items]
Fair Value				$ 1,000
Weighted Average Amortization Life				4 years
Trademarks and trade names \| DepositAccounts
Business Acquisition [Line Items]
Fair Value							$ 400
Weighted Average Amortization Life							4 years
Trademarks and trade names \| MagnifyMoney
Business Acquisition [Line Items]
Fair Value						$ 600
Weighted Average Amortization Life						4 years
Trademarks and trade names \| SnapCap
Business Acquisition [Line Items]
Fair Value					$ 600
Weighted Average Amortization Life					5 years

BUSINESS ACQUISITIONS (Details - Pro Forma Information) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma revenue	$ 1,107,118	$ 934,209	$ 729,370
Pro forma net income from continuing operations	39,173	104,153	(2,998)
Contingent consideration arrangements, after tax contingent consideration expense	21,500	7,200	1,600
Acquisition related costs	600	6,900	1,000
QuoteWizard
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma revenue		900,978	701,184
Pro forma net income from continuing operations		110,015	1,164
Contingent consideration arrangements, after tax contingent consideration expense		$ 4,900	$ 5,900
Acquisition related costs	$ 4,800

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accrued expenses and other current liabilities
Accrued advertising expense	$ 65,836	$ 60,268
Accrued compensation and benefits	10,540	6,381
Accrued professional fees	1,560	2,549
Customer deposits and escrows	6,920	6,913
Contribution to LendingTree Foundation, Current	3,333	3,333
Operating Lease, Liability, Current	6,885	0
Other	17,681	13,746
Total accrued expenses and other current liabilities	$ 112,755	$ 93,190

LEASES (Details) $ in Thousands	12 Months Ended
LEASES (Details) $ in Thousands	Dec. 31, 2019 USD ($) renewal_options	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Lessee, Lease, Description [Line Items]
Operating Leases, Rent Expense, Minimum Rentals		$ 3,400	$ 2,000
Operating Lease, Lease Income	$ 300	$ 900	$ 1,600
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	8,060
Lessee, Operating Lease, Liability, Payments, Due Year Two	5,731
Operating Lease, Payments	$ 6,779
Operating Lease, Weighted Average Remaining Lease Term	5 years
Operating Lease, Cost	$ 6,346
Lessee, Operating Lease, Number Of Renewal Options \| renewal_options	1
Operating Lease, Right-of-Use Asset	$ 25,500
Operating Lease, Liability	28,243
Short-term Lease, Cost	86
Lease, Cost	$ 6,432
Operating Lease, Weighted Average Discount Rate, Percent	4.70%
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 21,969
Lessee, Operating Lease, Liability, Payments, Due Year Three	5,498
Lessee, Operating Lease, Liability, Payments, Due Year Four	5,191
Lessee, Operating Lease, Liability, Payments, Due Year Five	3,476
Lessee, Operating Lease, Liability, Payments, Due after Year Five	3,811
Lessee, Operating Lease, Liability, Payments, Due	31,767
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	$ 3,524
Minimum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Renewal Term	2 years
Maximum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Renewal Term	5 years

SHAREHOLDERS' EQUITY (Details) - USD ($)	12 Months Ended
SHAREHOLDERS' EQUITY (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Feb. 20, 2019	Feb. 21, 2018	May 31, 2017
Weighted average shares outstanding:
Weighted average basic common shares (in shares)	12,834,000	12,504,000	11,945,000
Effect of stock options (in shares)	747,000	1,043,000	1,626,000
Effect of dilutive share awards (in shares)	167,000	153,000	111,000
Effect of Convertible Senior Notes and warrants	871,000	397,000	0
Weighted average diluted common shares (in shares)	14,619,000	14,097,000	13,682,000
Additional disclosure
Interest rate	0.625%					0.625%
Common Stock Repurchases
Value of common stock authorized to be repurchased				$ 150,000,000.0	$ 100,000,000.0
Purchase of treasury stock (in shares)	22,731	379,449	75,393
Value of treasury stock acquired	$ 5,470,000	$ 92,606,000	$ 21,000,000
Remaining authorized repurchase amount	$ 179,700,000
Stock Options, One
Additional disclosure
Anti-dilutive securities excluded from calculation of diluted earnings per share	0.1	0.4	0.1

STOCK-BASED COMPENSATION (Details - Plan Information and P&L Impact) $ / shares in Units, $ in Millions		6 Months Ended	12 Months Ended
	Jan. 02, 2018 $ / shares	Jun. 30, 2018	Dec. 31, 2019 USD ($) plan $ / shares shares	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($) shares
STOCK-BASED COMPENSATION
Number of active plans \| plan			2
Term of plan			10 years
Income tax benefit related to non-cash compensation \| $			$ 12.2	$ 11.2	$ 9.5
Excess tax benefit \| $			$ 17.1	$ 77.6	$ 12.9
Equity Award Plan
STOCK-BASED COMPENSATION
Number of shares authorized			6,100,000
Inducement Plan
STOCK-BASED COMPENSATION
Number of shares authorized			500,000
Performance-Based Restricted Stock
STOCK-BASED COMPENSATION
Granted (in shares)			0		0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value \| $ / shares			$ 0
Time-Vested Performance Shares [Member]
STOCK-BASED COMPENSATION
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value \| $ / shares	$ 21,900,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		6 months

STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION (Schedule of non-cash compensation expense related to equity awards) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	$ 52,167	$ 44,365	$ 23,361
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	755	378	175
Selling and marketing expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	5,785	3,568	3,973
General and administrative expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	39,177	34,325	16,874
Product development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	$ 6,450	$ 6,094	$ 2,339

STOCK-BASED COMPENSATION (Schedules - Stock Options) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	May 24, 2017
Aggregate Intrinsic Value
Share price (in dollars per share)	$ 303.44			$ 156.70
Stock Options, One
Number of Options
Outstanding at the beginning of the period (in shares)	940,533
Granted (in shares)	43,704
Exercised (in shares)	(167,686)
Forfeited (in shares)	(38,680)
Expired (in shares)	0
Outstanding at the end of the period (in shares)	777,871	940,533
Options exercisable at the end of the period (in shares)	668,976
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 65.12
Granted (in dollars per share)	323.82
Exercised (in dollars per share)	52.08
Forfeited (in dollars per share)	318.36
Expired (in dollars per share)	0
Outstanding at the end of the period (in dollars per share)	69.87	$ 65.12
Options exercisable at the end of the period (in dollars per share)	$ 39.73
Weighted Average Remaining Contractual Term
Outstanding at the end of the period	4 years 3 months 10 days
Options exercisable at the end of the period	3 years 7 months 9 days
Aggregate Intrinsic Value
Outstanding at the end of the period	$ 182,809,000
Options exercisable at the end of the period	176,710,000
Divdends	$ 0	$ 0	$ 0
Weighted average assumptions
Dividend yield	0.00%	0.00%	0.00%
Expected Volatility Rate, Minimum	51.00%	50.00%	51.00%
Expected Volatility Rate, Maximum	55.00%	53.00%	52.00%
Risk Free Interest Rate, Minimum	1.46%	2.33%	1.74%
Risk Free Interest Rate, Maximum	2.55%	3.06%	2.24%
Stock Options, Two
Number of Options
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)	(37,877)
Outstanding at the end of the period (in shares)	0	37,877
Options exercisable at the end of the period (in shares)	0
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 308.90
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	0
Expired (in dollars per share)	308.90
Outstanding at the end of the period (in dollars per share)	0	$ 308.90
Options exercisable at the end of the period (in dollars per share)	$ 0
Weighted Average Remaining Contractual Term
Outstanding at the end of the period	0 years
Options exercisable at the end of the period	0 years
Aggregate Intrinsic Value
Outstanding at the end of the period	$ 0
Options exercisable at the end of the period	$ 0
Weighted average assumptions
Dividend yield		0.00%
Expected Volatility Rate, Minimum			51.00%
Expected Volatility Rate, Maximum			51.00%
Risk Free Interest Rate, Minimum			2.16%
Risk Free Interest Rate, Maximum			2.23%
Share-based Payment Arrangement
Aggregate Intrinsic Value
Divdends			$ 0
Performance Options
Number of Options
Outstanding at the beginning of the period (in shares)	447,193
Granted (in shares)	16,247
Exercised (in shares)	0
Forfeited (in shares)	0
Expired (in shares)	0
Outstanding at the end of the period (in shares)	463,440	447,193
Options exercisable at the end of the period (in shares)	0
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 200.51
Granted (in dollars per share)	308.96
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	0
Expired (in dollars per share)	0
Outstanding at the end of the period (in dollars per share)	204.31	$ 200.51
Options exercisable at the end of the period (in dollars per share)	$ 0
Weighted Average Remaining Contractual Term
Outstanding at the end of the period	7 years 8 months 1 day
Options exercisable at the end of the period	0 years
Aggregate Intrinsic Value
Outstanding at the end of the period	$ 48,178,000
Options exercisable at the end of the period	0
Divdends	$ 0	$ 0	$ 0
Weighted average assumptions
Expected Volatility Rate, Minimum	51.00%	50.00%	50.00%
Expected Volatility Rate, Maximum	51.00%	50.00%	50.00%
Risk Free Interest Rate, Minimum	2.54%	2.38%	2.12%
Risk Free Interest Rate, Maximum	2.54%	2.81%	2.12%
Minimum \| Stock Options, One
Weighted average assumptions
Expected Term	5 years	5 years	5 years
Minimum \| Stock Options, Two
Weighted average assumptions
Expected Term			5 years 6 months
Vesting period			1 year 2 months 12 days
Minimum \| Performance Options
Weighted average assumptions
Expected Term	7 years	7 years	7 years 6 months
Maximum \| Stock Options, One
Weighted average assumptions
Expected Term	6 years 3 months	6 years 8 months 15 days	7 years
Maximum \| Stock Options, Two
Weighted average assumptions
Expected Term			6 years
Vesting period			2 years 2 months 12 days
Maximum \| Performance Options
Weighted average assumptions
Expected Term	7 years	7 years 1 month 24 days	7 years 6 months

STOCK-BASED COMPENSATION (Narrative - Stock Options) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
STOCK-BASED COMPENSATION
Proceeds from Stock Options Exercised	$ 8.7
Share-based Payment Arrangement, Exercise of Option, Tax Benefit	$ 11.9
Weighted average fair value (in dollars per share)	$ 167.10	$ 150.55	$ 105.15
Fair Value of Options Vested	$ 6.9	$ 11.4	$ 4.1
Minimum
STOCK-BASED COMPENSATION
Return performance, percent of target stock price		70.00%	70.00%
Performance measurement period ending September 30, 2022 \| Minimum
STOCK-BASED COMPENSATION
Return performance, percent of target stock price		70.00%
Performance measurement period ending March 31, 2022 \| Minimum
STOCK-BASED COMPENSATION
Return performance, percent of target stock price		41.00%
Performance Options
STOCK-BASED COMPENSATION
Unrecognized compensation cost	$ 40.5
Weighted-average period for recognition of unrecognized compensation cost	2 years 9 months 18 days
Weighted average fair value (in dollars per share)	$ 230.81	$ 296.80	$ 142.45
Performance Awards Earned	481,669
Return performance, percent of target stock price	81.00%		110.00%
Maximum number of shares for earned (in shares)	27,132		672,499
Performance Options \| Minimum
STOCK-BASED COMPENSATION
Return performance, percent of target stock price	41.00%
Performance Options \| Performance measurement period ending September 30, 2022
STOCK-BASED COMPENSATION
Return performance, percent of target stock price		110.00%
Maximum number of shares for earned (in shares)		52,332
Performance Options \| Performance measurement period ending March 31, 2022
STOCK-BASED COMPENSATION
Return performance, percent of target stock price		81.00%
Maximum number of shares for earned (in shares)		21,982
Stock Options, One
STOCK-BASED COMPENSATION
Unrecognized compensation cost	$ 10.5
Weighted-average period for recognition of unrecognized compensation cost	2 years 2 months 12 days
Intrinsic value of stock options exercised	$ 50.2	$ 268.3	$ 27.7
Stock Options, One \| one year from the grant date
STOCK-BASED COMPENSATION
Vesting period	1 year
Stock Options, One \| two years from the grant date
STOCK-BASED COMPENSATION
Vesting period	2 years
Vesting percentage	50.00%
Stock Options, One \| three years from the grant date
STOCK-BASED COMPENSATION
Vesting period	3 years
Vesting percentage	33.00%
Stock Options, One \| five and a half years
STOCK-BASED COMPENSATION
Vesting period	5 years 6 months
Stock Options, Two
STOCK-BASED COMPENSATION
Weighted average fair value (in dollars per share)			$ 152.45
Stock Options, Two \| Minimum
STOCK-BASED COMPENSATION
Vesting period			1 year 2 months 12 days
Stock Options, Two \| Maximum
STOCK-BASED COMPENSATION
Vesting period			2 years 2 months 12 days

STOCK-BASED COMPENSATION (RSU and RSA Rollforwards) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Performance-Based Restricted Stock
Nonvested RSUs and RSAs, Number of Shares
Nonvested at the beginning of the period (in shares)	71,412
Granted (in shares)	0		0
Vested (in shares)	(23,804)
Forfeited (in shares)	0
Nonvested at the end of the period (in shares)	47,608	71,412
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 340.25
Granted (in dollars per share)	0
Vested (in dollars per share)	340.25
Forfeited (in dollars per share)	0
Nonvested at the end of the period (in dollars per share)	$ 340.25	$ 340.25
Unrecognized compensation cost	$ 8.7
Weighted-average period for recognition of unrecognized compensation cost	2 years
Vested fair value	$ 8.2	$ 13.6
Market-Based Restricted Stock
Nonvested RSUs and RSAs, Number of Shares
Nonvested at the beginning of the period (in shares)	26,674
Granted (in shares)	0
Vested (in shares)	0
Forfeited (in shares)	0
Nonvested at the end of the period (in shares)	26,674	26,674
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 340.25
Granted (in dollars per share)	0
Vested (in dollars per share)	0
Forfeited (in dollars per share)	0	$ 1,900,000
Nonvested at the end of the period (in dollars per share)	$ 340.25	$ 340.25
Unrecognized compensation cost	$ 1.0
Weighted-average period for recognition of unrecognized compensation cost	2 years 9 months 18 days
Return performance, percent of target stock price	110.00%
Maximum number of shares for earned (in shares)	44,545
Performance Awards Earned	29,601
RSUs
Nonvested RSUs and RSAs, Number of Shares
Nonvested at the beginning of the period (in shares)	201,568
Granted (in shares)	62,248
Vested (in shares)	(82,020)
Forfeited (in shares)	(36,857)
Nonvested at the end of the period (in shares)	144,939	201,568
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 225.48
Granted (in dollars per share)	318.04
Vested (in dollars per share)	192.89
Forfeited (in dollars per share)	287.73
Nonvested at the end of the period (in dollars per share)	$ 267.85	$ 225.48
Unrecognized compensation cost	$ 24.4
Weighted-average period for recognition of unrecognized compensation cost	1 year 7 months 6 days
Vested fair value	$ 27.2	$ 21.8	$ 11.5
Performance Shares
Nonvested RSUs and RSAs, Number of Shares
Nonvested at the beginning of the period (in shares)	92,481
Granted (in shares)	0
Vested (in shares)	(46,785)
Forfeited (in shares)	(31,049)
Nonvested at the end of the period (in shares)	14,647	92,481
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 182.28
Granted (in dollars per share)	0
Vested (in dollars per share)	207.36
Forfeited (in dollars per share)	212.09
Nonvested at the end of the period (in dollars per share)	$ 210.55	$ 182.28
Unrecognized compensation cost	$ 2.8
Weighted-average period for recognition of unrecognized compensation cost	1 year 2 months 12 days
Vested fair value	$ 18.8	$ 7.9	$ 0.4
Minimum
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Return performance, percent of target stock price		70.00%	70.00%
Minimum \| Performance Shares
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Vesting period	6 months
Maximum \| Performance Shares
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Vesting period	4 years

INCOME TAXES (Details - Income Tax Provision Components) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current income tax expense (benefit):
Federal	$ 201	$ (1,470)	$ 10,055
State	(125)	(204)	2,606
Current income tax expense (benefit)	76	(1,674)	12,661
Deferred income tax (benefit) provision:
Federal	(10,857)	(44,950)	(3,805)
State	2,302	(18,951)	(2,565)
Deferred income tax benefit	(8,555)	(63,901)	(6,370)
Income tax (benefit) expense	$ (8,479)	$ (65,575)	$ 6,291

INCOME TAXES (Details - Income Tax Reconciliation when Applying the Statutory Federal Tax Rate) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of income tax provision to amounts computed by statutory federal income tax rate to income (loss) from continuing operations before income taxes
Federal statutory income tax		$ 6,506	$ 9,186	$ 8,998
State income taxes, net		(1,832)	(14,884)	(268)
Excess tax deductions on non-cash compensation		(13,971)	(59,601)	(11,134)
Research and experimentation tax credit		(5,794)	(2,523)	(1,318)
Impact of certain state legislation, net		3,932	0	0
Nondeductible executive compensation		988	163	21
Change in (release of) valuation allowance		954	(12)	593
Uncertain tax positions		922	289	170
Nondeductible meals & entertainment		428	310	90
Impact of Tax Cuts and Jobs Act		0	270	9,062
Other, net		(612)	1,227	77
Income tax (benefit) expense		$ (8,479)	$ (65,575)	$ 6,291
Federal Statutory Income Tax Rate (as a percent)		21.00%	21.00%	35.00%
Provisional estimate for remeasurement of deferred tax assets and liabilities from Tax Cuts and Jobs Act	$ 9,100			$ 9,100
Federal
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards		$ 188,200
State
Operating Loss Carryforwards [Line Items]
State operating loss carryforwards		$ 484,700

INCOME TAXES (Details - Deferred Income Taxes - Components) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Provision for accrued expenses	$ 12,234	$ 5,953
Leasing	7,299	0
Net operating loss carryforwards	56,450	59,817
Non-cash compensation expense	15,805	12,505
Interest limitation	987	3,532
Contingent liabilities	9,366	3,053
Tax credits	6,124	1,569
Other	1,624	2,976
Total gross deferred tax assets	109,889	89,405
Less: valuation allowance (c)	(4,102)	(2,229)	$ (2,694)	$ (2,101)
Total deferred tax assets, net of the valuation allowance	105,787	87,176
Deferred tax liabilities:
Intangible and other assets	(1,744)	(4,623)
Leasing	(6,596)	0
Other	(1,835)	(892)
Total gross deferred tax liabilities	(10,175)	(5,515)
Net deferred taxes	95,612	$ 81,661
Federal
Deferred tax liabilities:
Operating Loss Carryforwards	188,200
State
Deferred tax liabilities:
State operating loss carryforwards	$ 484,700

INCOME TAXES (Details - Deferred Income Taxes - BS Presentation) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018
Income Tax Disclosure [Abstract]
Deferred income tax assets	$ 87,664	$ 79,289	$ 19,626
Non-current assets of discontinued operations	7,948	3,266
Deferred income tax liabilities	0	(894)
Net deferred taxes	$ 95,612	$ 81,661

INCOME TAXES (Details - Valuation Allowance) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Operating Loss Carryforwards, Valuation Allowance	$ 4,100	$ 2,200	$ 2,700
Valuation Allowance [Abstract]
Balance, beginning of the period	2,229	2,694	2,101
Change in valuation allowance	1,873	(465)	593
Balance, end of the period	$ 4,102	$ 2,229	$ 2,694

INCOME TAXES (Details - Unrecognized Tax Benefits) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of unrecognized tax benefits, excluding interest
Balance, beginning of the period	$ 1,127	$ 748
Additions based on tax positions of the current period	525	249
Additions based on tax positions of the prior period	344	130
Balance, end of the period	1,996	1,127
Unrecognized Tax Benefits Including Interest	2,100	$ 1,200
Significant change, decrease in unrecognized income tax benefits	$ 600

DEBT (Convertible Senior Notes) (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	May 31, 2017 USD ($) day $ / shares Rate shares	Dec. 31, 2019 USD ($) Rate	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Debt Instrument [Line Items]
Aggregate principal amount	$ 300,000	$ 299,991	$ 300,000
Interest rate \| Rate	0.625%	0.625%
Conversion rate, number of shares per $1,000 of principal \| shares	4.8163
Conversion price (in dollars per share) \| $ / shares	$ 207.63
Threshold percentage of stock price trigger \| Rate	130.00%
Threshold trading days \| day	5
Threshold percentage of stock price trigger \| Rate	98.00%
Redemption percentage \| Rate	100.00%
Nonconvertible debt borrowing rate at the date of issuance \| Rate	5.36%
Convertible debt, noncurrent	$ 238,400
Carrying amount of debt, equity component	61,600
Debt issuance costs, gross	9,300
Debt issuance costs, equity component	1,900
Interest expense		$ 15,300	14,600	$ 8,200
Interest expense, excluding amortization		1,900		1,100
Amortization of convertible debt discount		12,016	11,397	6,385
Amortization of debt issuance costs		1,974	1,776	1,032
Long-term debt, fair value		469,100
Debt Issuance Costs, Net [Abstract]
Gross carrying amount	300,000	299,991	300,000
Unamortized debt discount		31,789	43,805
Debt issuance costs	$ 7,400	3,811	5,252
Net carrying amount		264,391	250,943
Convertible Debt
Debt Instrument [Line Items]
Interest expense, excluding amortization			1,900
Amortization of convertible debt discount			11,400
Amortization of debt issuance costs		$ 1,400	$ 1,300	$ 700

DEBT (Convertible Note Hedge and Warrant Transactions) (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions		12 Months Ended
	May 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	May 24, 2017
Debt Disclosure [Abstract]
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	$ 0	$ 61,500
Number of shares covered by the hedge transactions	1.4
Conversion price (in dollars per share)	$ 207.63
Exercise price (in dollars per share)	$ 266.39
Premium of warrant strike price over sales price of common stock	70.00%
Share price (in dollars per share)		$ 303.44			$ 156.70
Proceeds from the sale of warrants	$ 43,400	$ 0	$ 0	$ 43,410

DEBT (Senior Secured Revolving Credit Facility) (Details) $ in Thousands			3 Months Ended	12 Months Ended
	Dec. 10, 2019 USD ($)	Nov. 21, 2017	Dec. 31, 2017 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($) Rate	Dec. 31, 2017 USD ($)	Oct. 31, 2018 USD ($)	Oct. 26, 2018 USD ($)
Line of Credit Facility [Line Items]
Revolving credit facility, outstanding amount				$ 75,000	$ 125,000
Interest rate				3.01%	4.02%
Credit Agreement, potential additional borrowing capacity	$ 185,000
Credit Agreement, ratio of debt to EBITDA	2.50
Letters of credit outstanding				$ 200
Ratio of debt to EBITDA step-down		4.0
Ratio of debt to EBITDA Increase		0.5
Write-off of previously-capitalized debt issuance costs				333	$ 0	$ 90
Interest expense				15,300	14,600	8,200
Amortization of debt issuance costs				1,974	1,776	1,032
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 500,000							$ 350,000
Revolving credit facility, term	5 years
Percent of domestic subsidiaries equity		100.00%
Percent of voting equity		66.00%
Percent of non-voting equity		100.00%
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%
Write-off of previously-capitalized debt issuance costs			$ 100	300
Revolving credit facility, debt issuance costs							$ 2,800
Interest expense				6,100	2,000
Unused borrowing capacity fee				600	800	500
Amortization of debt issuance costs				600	400	$ 400
Swingline Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 10,000
Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 10,000
Fed Funds Effective Rate Overnight Index Swap Rate \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	0.50%
LIBOR \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	1.00%
Interest expense				4,900	$ 800
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 \| ABR \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	0.25%
Minimum \| LIBOR \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	1.25%
Maximum
Line of Credit Facility [Line Items]
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 \| ABR \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	1.00%
Maximum \| LIBOR \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	2.00%
31 Day Borrowing, first \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, outstanding amount				50,000
31 Day Borrowing, second \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, outstanding amount				$ 25,000

COMMITMENTS (Details - Bonds) - Surety bond $ in Thousands	Dec. 31, 2019 USD ($)
Commitment
Total Amounts Committed	$ 5,278
Less Than 1 year	5,253
1-3 years	25
3-5 years	0
More Than 5 years	$ 0

COMMITMENTS - Other (Details) $ in Millions	Dec. 31, 2019 USD ($)
Minimum
Other Commitments [Line Items]
Other Commitment	$ 4.2
Maximum
Other Commitments [Line Items]
Other Commitment	$ 11.2

CONTINGENCIES (Details) $ in Millions			1 Months Ended		12 Months Ended
CONTINGENCIES (Details) $ in Millions	Dec. 04, 2019 USD ($)	Jun. 21, 2019 USD ($)	Feb. 29, 2016 defendant	Dec. 31, 2013 USD ($)	Dec. 31, 2018 USD ($) loan	Dec. 31, 2019 USD ($)
Contingencies
Accrued litigation liabilities					$ 0.2	$ 0.2
Loss Contingency, Damages Sought, Value				$ 61.0
Lehman Brothers Holdings, Inc. Demand Letter [Member]
Contingencies
Loss Contingency, Damages Sought, Value	$ 44.7				$ 40.2
Loss Contingencies, Number of Loans Sold with Losses \| loan					370
Pending Litigation [Member] \| Lehman Brothers Holdings, Inc. Demand Letter [Member]
Contingencies
Loss Contingency, Number of Defendants \| defendant			149
Judicial Ruling [Member] \| Residential Funding Co. v Home Loan Center [Member]
Contingencies
Litigation Settlement, Amount Awarded to Other Party		$ 68.5
Discontinued Operations, Disposed of by Sale [Member]
Contingencies
Accrued litigation liabilities					$ 8.0	$ 31.0
Attorney Fees [Member] \| Judicial Ruling [Member] \| Residential Funding Co. v Home Loan Center [Member]
Contingencies
Litigation Settlement, Amount Awarded to Other Party		23.1
Pre-Judgment Interest [Member] \| Judicial Ruling [Member] \| Residential Funding Co. v Home Loan Center [Member]
Contingencies
Litigation Settlement, Amount Awarded to Other Party		$ 2.6

FAIR VALUE MEASUREMENT (Details) - USD ($)	3 Months Ended		12 Months Ended
FAIR VALUE MEASUREMENT (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Oct. 31, 2018	Jun. 11, 2018	Sep. 19, 2017	Jun. 14, 2017
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 38,837,000		$ 38,837,000	$ 57,349,000	$ 23,100,000
Change in fair value of contingent consideration	$ 14,400,000	$ 6,800,000	28,402,000	10,788,000	23,931,000
Contingent consideration additions			0	19,700,000	11,318,000
Contingent consideration payments			(33,775,000)	(49,000,000)	(1,000,000)
Ending balance		$ 38,837,000	$ 33,464,000	$ 38,837,000	$ 57,349,000
Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration on acquisition date						$ 0	$ 0	$ 3,000,000.0	$ 0
Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration on acquisition date						$ 46,800,000	$ 4,400,000	$ 6,000,000.0	$ 1,000,000.0

RELATED PARTY TRANSACTIONS (Details) $ in Thousands	3 Months Ended	12 Months Ended
RELATED PARTY TRANSACTIONS (Details) $ in Thousands	Dec. 31, 2017 USD ($)	Dec. 31, 2019 USD ($) directors	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Related Party Transactions [Abstract]
Number Of Board Of Directors Also Serving As Director To Marketing Partner Of The Company \| directors		1
Expenses incurred for related parties			$ 700	$ 1,200
Charitable Contribution, Total	$ 10,000	$ 10,000
Contribution to LendingTree Foundation, Current		$ 3,333	$ 3,333

BENEFIT PLANS (Details) - USD ($)	12 Months Ended
BENEFIT PLANS (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Contribution Plan Disclosure [Line Items]
Maximum contribution by employees as a percentage of pre-tax earnings	50.00%
Generally the maximum amount a participant may contribute in accordance with statutory limits	$ 19,000	$ 18,500	$ 18,000
Matching contribution per participant dollar contributed	$ 0.50
Maximum contribution by employer (as a percent)	6.00%
Matching contribution made by the entity	$ 2,000,000.0	$ 1,400,000	$ 900,000
Service period one
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, vested percent	33.00%
Requisite service period for matching contribution	1 year
Service period two
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, vested percent	66.00%
Requisite service period for matching contribution	2 years
Service period three and after
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, vested percent	100.00%
Requisite service period for matching contribution	3 years

DISCONTINUED OPERATIONS (Details - Disposal Groups) - USD ($)
$ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Jun. 21, 2019

Jan. 31, 2016

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Jul. 21, 2019

May 31, 2017

Jun. 06, 2012

DISCONTINUED OPERATIONS

Schedule of revenue and net income of the discontinued operations

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



	Year Ended December 31,
	2019			2018			2017
Revenue	$	—		$	—		$	(750	)

Gain from removal of HLC's assets and liabilities	4,515			—			—
Other operating expenses	(35,002		)	(16,228		)	(5,159		)
Loss before income taxes	(30,487		)	(16,228		)	(5,909		)
Income tax benefit	8,855			3,408			2,069
Net loss	$	(21,632	)	$	(12,820	)	$	(3,840	)

Revenue and net income (loss) of discontinued operations

Revenue

$ 0

$ 750

Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax

(30,487)

(16,228)

(5,909)

Income tax benefit

8,855

3,408

2,069

Loss from discontinued operations

$ (392)

$ 20,199

$ 763

$ 1,062

$ 3,551

$ 2,634

$ 2,302

$ 4,333

$ 21,632

12,820

3,840

Interest rate

0.625%

Discover Bank | Lending Tree Loans

DISCONTINUED OPERATIONS

Asset Purchase Agreement Proceeds From Sale

$ 55,900

Discontinued Operations, Disposed of by Means Other than Sale [Member] | Home Loan Center, Inc. [Member]

DISCONTINUED OPERATIONS

Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest

$ (5,500)

Revenue and net income (loss) of discontinued operations

Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax

4,515

$ 0

Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax

(10,000)

Discontinued Operations, Disposed of by Means Other than Sale [Member] | Loan loss obligations | Lending Tree Loans

Revenue and net income (loss) of discontinued operations

Amount of reserve for contingencies

$ 31,000

31,000

Home Loan Center, Inc. [Member]

Revenue and net income (loss) of discontinued operations

Cash

$ 5,900

Dividends

$ 40,000

Pending Litigation [Member] | Discontinued Operations, Disposed of by Means Other than Sale [Member] | Loan loss obligations | Lending Tree Loans

Revenue and net income (loss) of discontinued operations

Litigation Settlement, Amount Awarded to Other Party

$ 31,000

Maximum | Discontinued Operations, Disposed of by Means Other than Sale [Member] | Loan loss obligations | Discontinued operations | Lending Tree Loans

Revenue and net income (loss) of discontinued operations

Loss Contingency, Estimate of Possible Loss

40,000

Minimum | Discontinued Operations, Disposed of by Means Other than Sale [Member] | Loan loss obligations | Discontinued operations | Lending Tree Loans

Revenue and net income (loss) of discontinued operations

Loss Contingency, Estimate of Possible Loss

$ 0

Residential Funding Co. v Home Loan Center [Member] | Judicial Ruling [Member]

Revenue and net income (loss) of discontinued operations

Litigation Settlement, Amount Awarded to Other Party

$ 68,500

Residential Funding Co. v Home Loan Center [Member] | Judicial Ruling [Member] | Damages [Member]

Revenue and net income (loss) of discontinued operations

Litigation Settlement, Amount Awarded to Other Party

$ 28,700

DISCONTINUED OPERATIONS (Details - LendingTree Loans) - USD ($) $ in Thousands	Jun. 21, 2019	Dec. 31, 2019	Jul. 21, 2019	Dec. 31, 2018	Jun. 06, 2012
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets		$ 947,969		$ 896,115
Discover Bank \| Lending Tree Loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Asset Purchase Agreement Proceeds From Sale					$ 55,900
Residential Funding Co. v Home Loan Center [Member] \| Judicial Ruling [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Litigation Settlement, Amount Awarded to Other Party	$ 68,500
Home Loan Center, Inc. [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets			$ 11,200
Cash			$ 5,900

DISCONTINUED OPERATIONS (Details - Loan Loss Obligations) $ in Millions			1 Months Ended		12 Months Ended
	Dec. 04, 2019 USD ($)	Jun. 21, 2019 USD ($)	Feb. 29, 2016 defendant	Dec. 31, 2013 USD ($) claim network_lender	Dec. 31, 2018 USD ($) loan
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value				$ 61.0
Lehman Brothers Holdings, Inc. Demand Letter [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 44.7				$ 40.2
Loss Contingencies, Number of Loans Sold with Losses \| loan					370
Pending Litigation [Member] \| Lehman Brothers Holdings, Inc. Demand Letter [Member]
Loss Contingencies [Line Items]
Loss Contingency, Number of Defendants \| defendant			149
Pending Litigation [Member] \| Residential Funding Company [Domain]
Loss Contingencies [Line Items]
Loss Contingency, Number Of Loan Originators \| network_lender				80
Loss Contingency, Pending Claims, Number \| claim				2
Judicial Ruling [Member] \| Residential Funding Co. v Home Loan Center [Member]
Loss Contingencies [Line Items]
Litigation Settlement, Amount Awarded to Other Party		$ 68.5
Judicial Ruling [Member] \| Residential Funding Co. v Home Loan Center [Member] \| Damages [Member]
Loss Contingencies [Line Items]
Litigation Settlement, Amount Awarded to Other Party		28.7
Judicial Ruling [Member] \| Residential Funding Co. v Home Loan Center [Member] \| Pre-Verdict Interest [Member]
Loss Contingencies [Line Items]
Litigation Settlement, Amount Awarded to Other Party		14.1
Judicial Ruling [Member] \| Residential Funding Co. v Home Loan Center [Member] \| Attorney Fees [Member]
Loss Contingencies [Line Items]
Litigation Settlement, Amount Awarded to Other Party		23.1
Judicial Ruling [Member] \| Residential Funding Co. v Home Loan Center [Member] \| Pre-Judgment Interest [Member]
Loss Contingencies [Line Items]
Litigation Settlement, Amount Awarded to Other Party		$ 2.6

DISCONTINUED OPERATIONS FINANCIAL INFORMATION OF DISC OPS (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue									$ 0	$ 0	$ (750)
Disposal Group, Including Discontinued Operation, Other Expense									(35,002)	(16,228)	(5,159)
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax									(30,487)	(16,228)	(5,909)
Income tax benefit									8,855	3,408	2,069
Loss from discontinued operations, net of tax	$ 392	$ (20,199)	$ (763)	$ (1,062)	$ (3,551)	$ (2,634)	$ (2,302)	$ (4,333)	(21,632)	(12,820)	(3,840)
Home Loan Center, Inc. [Member] \| Discontinued Operations, Disposed of by Means Other than Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax									$ 4,515	$ 0	$ 0

- Definition

Amount before tax of income (loss) from a discontinued operation. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

- Definition

Amount of tax expense (benefit) related to a discontinued operation. Includes, but is not limited to, tax expense (benefit) related to income (loss) from operations during the phase-out period, tax expense (benefit) related to gain (loss) on disposal, tax expense (benefit) related to gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and tax expense (benefit) related to adjustments of a prior period gain (loss) on disposal.

+ References + Details

- Definition

Amount after tax of income (loss) from a discontinued operation attributable to the parent. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

SEGMENT INFORMATION (Details) $ in Thousands	1 Months Ended	3 Months Ended								12 Months Ended
SEGMENT INFORMATION (Details) $ in Thousands	Nov. 30, 2018 segment	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2019	Dec. 31, 2019 segment	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
SEGMENT INFORMATION
Number of operating segments \| segment												3
Number of reportable segments	1										3	3
Revenue		$ 255,187	$ 310,605	$ 278,421	$ 262,390	$ 202,672	$ 197,057	$ 184,101	$ 181,035	$ 1,106,603			$ 764,865	$ 617,736
Segment cost of revenue and marketing expense										674,285			459,728	366,345
Segment profit										432,318			305,137	251,391
Cost of revenue (exclusive of cost of advertising re-sold to third parties included above)										45,624			27,587	17,223
Brand and other marketing expense										83,650			49,375	66,439
General and administrative expense										116,847			101,219	71,541
Product development										39,953			26,958	17,925
Depreciation										10,998			7,385	7,085
Amortization of intangibles										55,241			23,468	12,992
Change in fair value of contingent consideration					14,400	6,800				28,402			10,788	23,931
Severance										1,026			2,352	404
Litigation settlements and contingencies										(151)			(186)	718
Operating income		$ 9,021	$ 31,193	$ 12,316	$ (1,802)	$ 2,428	$ 20,290	$ 18,123	$ 15,350	50,728			56,191	33,133
Interest expense, net										(20,271)			(12,437)	(7,028)
Other income (expense)										524			(10)	(396)
Income before income taxes										30,981			43,744	25,709
Home
SEGMENT INFORMATION
Revenue										277,935			319,176	340,377
Segment cost of revenue and marketing expense										174,814			214,475	204,135
Segment profit										103,121			104,701	136,242
Consumer
SEGMENT INFORMATION
Revenue										515,037			395,615	276,091
Segment cost of revenue and marketing expense										301,852			207,891	160,384
Segment profit										213,185			187,724	115,707
Insurance
SEGMENT INFORMATION
Revenue										284,792			31,369	136
Segment cost of revenue and marketing expense										170,153			20,011	70
Segment profit										114,639			11,358	66
Other
SEGMENT INFORMATION
Revenue										28,839			18,705	1,132
Segment cost of revenue and marketing expense										27,466			17,351	1,756
Segment profit										$ 1,373			$ 1,354	$ (624)

QUARTERLY FINANCIAL INFORMATION (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended									12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information [Abstract]
Change in fair value of contingent consideration				$ 14,400	$ 6,800					$ 28,402	$ 10,788	$ 23,931
Revenue	$ 255,187	$ 310,605	$ 278,421	262,390	202,672	$ 197,057	$ 184,101	$ 181,035		1,106,603	764,865	617,736
Operating income (loss)	9,021	31,193	12,316	(1,802)	2,428	20,290	18,123	15,350		50,728	56,191	33,133
Income (loss) from continuing operations	1,466	24,463	12,981	550	251	28,362	44,849	35,857		39,460	109,319	19,418
Loss from discontinued operations	392	(20,199)	(763)	(1,062)	(3,551)	(2,634)	(2,302)	(4,333)		(21,632)	(12,820)	(3,840)
Net income (loss) and comprehensive income (loss)	$ 1,858	$ 4,264	$ 12,218	$ (512)	$ (3,300)	$ 25,728	$ 42,547	$ 31,524		$ 17,828	$ 96,499	$ 15,578
Basic (in dollars per share)	$ 0.11	$ 1.90	$ 1.01	$ 0.04	$ 0.02	$ 2.22	$ 3.61	$ 2.97		$ 3.07	$ 8.74	$ 1.63
Diluted (in dollars per share)	0.10	1.67	0.87	0.04	0.02	2.05	3.17	2.41		2.70	7.75	1.42
Income (loss) per share from discontinued operations:
Basic (in dollars per share)	0.03	(1.57)	(0.06)	(0.08)	(0.28)	(0.21)	(0.19)	(0.36)
Diluted (in dollars per share)	0.03	(1.38)	(0.05)	(0.07)	(0.26)	(0.19)	(0.16)	(0.29)
Income per share from continuing operations:
Basic (in dollars per share)	0.14	0.33	0.95	(0.04)	(0.26)	2.01	3.43	2.61		1.39	7.72	1.30
Diluted (in dollars per share)	$ 0.13	$ 0.29	$ 0.82	$ (0.04)	$ (0.24)	$ 1.86	$ 3.01	$ 2.12		$ 1.22	$ 6.85	$ 1.14
Charitable Contribution, Total									$ 10,000	$ 10,000
Provisional estimate for remeasurement of deferred tax assets and liabilities from Tax Cuts and Jobs Act									$ 9,100			$ 9,100