0001434621-21-000002 | 10-K | XBRL Viewer

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COVER - USD ($) $ in Millions	12 Months Ended
COVER - USD ($) $ in Millions	Dec. 31, 2020	Feb. 19, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
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	2020
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	1415 Vantage Park Dr., Suite 700
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28203
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
ICFR Auditor Attestation Flag	true
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	TREE
Security Exchange Name	NASDAQ
Entity Public Float			$ 2,298
Entity Common Stock, Shares Outstanding		13,128,360
Documents Incorporated by Reference	Portions of the Registrant's proxy statement for its 2021 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, 2020.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Revenue	$ 909,990	$ 1,106,603	$ 764,865
Costs and expenses:
Cost of revenue (exclusive of depreciation and amortization shown separately below)	54,494	68,379	36,399
Selling and marketing expense	617,404	735,180	500,291
General and administrative expense	129,101	116,847	101,219
Product development	43,636	39,953	26,958
Depreciation	14,201	10,998	7,385
Amortization of intangibles	53,078	55,241	23,468
Change in fair value of contingent consideration	5,327	28,402	10,788
Severance	295	1,026	2,352
Litigation settlements and contingencies	(943)	(151)	(186)
Total costs and expenses	916,593	1,055,875	708,674
Operating (loss) income	(6,603)	50,728	56,191
Other (expense) income, net:
Interest expense, net	(36,300)	(20,271)	(12,437)
Other income (expense)	376	524	(10)
(Loss) income before income taxes	(42,527)	30,981	43,744
Income tax benefit	19,961	8,479	65,575
Net (loss) income from continuing operations	(22,566)	39,460	109,319
Loss from discontinued operations, net of tax	(25,689)	(21,632)	(12,820)
Net (loss) income and comprehensive (loss) income	$ (48,255)	$ 17,828	$ 96,499
Weighted average shares outstanding:
Basic (in shares)	13,007	12,834	12,504
Diluted (in shares)	13,007	14,619	14,097
(Loss) income per share from continuing operations:
Basic (in dollars per share)	$ (1.73)	$ 3.07	$ 8.74
Diluted (in dollars per share)	(1.73)	2.70	7.75
Loss per share from discontinued operations:
Basic (in dollars per share)	(1.98)	(1.69)	(1.03)
Diluted (in dollars per share)	(1.98)	(1.48)	(0.91)
Net (loss) income per share:
Basic (in dollars per share)	(3.71)	1.39	7.72
Diluted (in dollars per share)	$ (3.71)	$ 1.22	$ 6.85

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
ASSETS:
Cash and cash equivalents	$ 169,932	$ 60,243
Restricted cash and cash equivalents	117	96
Accounts receivable (net of allowance of $1,402 and $1,466, respectively)	89,841	113,487
Prepaid and other current assets	27,949	15,516
Current assets of discontinued operations	8,570	84
Total current assets	296,409	189,426
Property and equipment (net of accumulated depreciation of $20,238 and $17,979, respectively)	62,381	31,363
Operating lease right-of-use assets	84,109	25,519
Goodwill	420,139	420,139
Intangible assets, net	128,502	181,580
Deferred income tax assets	96,224	87,664
Equity investment (Note 8)	80,000	0
Other non-current assets	5,334	4,330
Non-current assets of discontinued operations	15,892	7,948
Total assets	1,188,990	947,969
LIABILITIES:
Revolving credit facility	0	75,000
Accounts payable, trade	10,111	2,873
Accrued expenses and other current liabilities	101,196	112,755
Current contingent consideration	0	9,028
Current liabilities of discontinued operations	536	31,050
Total current liabilities	111,843	230,706
Long-term debt	611,412	264,391
Operating lease liabilities	92,363	21,358
Non-current contingent consideration	8,249	24,436
Other non-current liabilities	362	4,752
Total liabilities	824,229	545,643
Commitments and contingencies (Notes 16 and 17)
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; 15,766,193 and 15,676,819 shares issued, respectively, and 13,124,875 and 13,035,501 shares outstanding, respectively	158	157
Additional paid-in capital	1,188,673	1,177,984
Accumulated deficit	(640,909)	(592,654)
Treasury stock; 2,641,318 shares	(183,161)	(183,161)
Total shareholders' equity	364,761	402,326
Total liabilities and shareholders' equity	$ 1,188,990	$ 947,969

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 1,402	$ 1,466
Accumulated depreciation	$ 20,238	$ 17,979
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares	5,000,000	5,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares	50,000,000	50,000,000
Common stock, issued shares	15,766,193	15,676,819
Common stock, outstanding shares	13,124,875	13,035,501
Treasury stock, shares	2,641,318	2,641,318

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	2025 Convertible Notes	2022 Convertible Notes	Cumulative effect adjustment	Common Stock	Additional Paid-in Capital	Additional Paid-in Capital 2025 Convertible Notes	Additional Paid-in Capital 2022 Convertible Notes	Additional Paid-in Capital Cumulative effect adjustment	Accumulated Deficit	Accumulated Deficit Cumulative effect adjustment	Treasury Stock	Noncontrolling Interest
Balance at Dec. 31, 2017	$ 294,874				$ 142	$ 1,087,582				$ (708,354)		$ (85,085)	$ 589
Balance (Accounting Standards Update 2014-09) at Dec. 31, 2017				$ 1,373					$ 0		$ 1,373
Balance (in shares) at Dec. 31, 2017					14,218,000							2,239,000
Increase (Decrease) in Stockholders' Equity
Net (loss) income and comprehensive (loss) income	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
Acquisition of noncontrolling interest	(510)					79							(589)
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 (loss) income and comprehensive (loss) income	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
Other	(1)					(1)
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
Net (loss) income and comprehensive (loss) income	(48,255)									(48,255)
Non-cash compensation	53,733					53,733
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	(3,910)				$ 1	(3,911)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes (in shares)					89,000
Issuance of 0.50% Convertible Senior Notes, net		$ 116,300					$ 116,300
Repurchase of 0.625% Convertible Senior Notes, net			$ (107,882)					$ (107,882)
Convertible note hedge transactions	(14,379)					(14,379)
Warrant transactions	(33,171)					(33,171)
Other	(1)					(1)
Balance at Dec. 31, 2020	$ 364,761				$ 158	$ 1,188,673				$ (640,909)		$ (183,161)	$ 0
Balance (in shares) at Dec. 31, 2020					15,766,000							2,641,000

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical)	Dec. 31, 2020	Jul. 24, 2020 Rate	May 31, 2017 Rate
2025 Convertible Notes
Interest rate	0.50%	0.50%
2022 Convertible Notes
Interest rate	0.625%		0.625%

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities attributable to continuing operations:
Net (loss) income and comprehensive (loss) income	$ (48,255,000)	$ 17,828,000	$ 96,499,000
Less: Loss from discontinued operations, net of tax	25,689,000	21,632,000	12,820,000
(Loss) income from continuing operations	(22,566,000)	39,460,000	109,319,000
Adjustments to reconcile income from continuing operations to net cash provided by operating activities attributable to continuing operations:
Loss (gain) on impairments and disposal of assets	1,160,000	(695,000)	2,210,000
Amortization of intangibles	53,078,000	55,241,000	23,468,000
Depreciation	14,201,000	10,998,000	7,385,000
Rental amortization of intangibles and depreciation	0	0	630,000
Non-cash compensation expense	53,733,000	52,167,000	44,365,000
Deferred income taxes	(9,628,000)	(8,555,000)	(63,901,000)
Change in fair value of contingent consideration	5,327,000	28,402,000	10,788,000
Bad debt expense	1,785,000	1,697,000	880,000
Amortization of debt issuance costs	3,474,000	1,974,000	1,776,000
Write-off of previously-capitalized debt issuance costs	0	333,000	0
Amortization of convertible debt discount	19,570,000	12,016,000	11,397,000
Loss on extinguishment of debt	7,768,000	0	0
Reduction in carrying amount of ROU asset, offset by change in operating lease liabilities	8,888,000	213,000	0
Changes in current assets and liabilities:
Accounts receivable	21,861,000	(22,457,000)	(16,820,000)
Prepaid and other current assets	(952,000)	(3,258,000)	(2,985,000)
Accounts payable, accrued expenses and other current liabilities	(8,013,000)	(2,322,000)	14,270,000
Current contingent consideration	(25,787,000)	(12,500,000)	(21,912,000)
Income taxes receivable	(10,598,000)	4,548,000	3,669,000
Other, net	(2,002,000)	(88,000)	(591,000)
Net cash provided by operating activities attributable to continuing operations	111,299,000	157,174,000	123,948,000
Cash flows from investing activities attributable to continuing operations:
Capital expenditures	(42,149,000)	(20,041,000)	(14,907,000)
Proceeds from the sale of fixed assets	0	24,077,000	0
Equity investment	(80,000,000)	0	0
Net cash used in investing activities attributable to continuing operations	(122,149,000)	(101,060,000)	(383,038,000)
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	(3,910,000)	(8,406,000)	2,217,000
Proceeds from the issuance of 0.625% Convertible Senior Notes	575,000,000	0	0
Repurchase of 0.625% Convertible Senior Notes	(233,862,000)	0	0
Payment of convertible note hedge on the 0.50% Convertible Senior Notes	(124,200,000)	0	0
Termination of convertible note hedge on the 0.625% Convertible Senior Notes	109,881,000	0	0
Proceeds from the sale of warrants related to the 0.50% Convertible Senior Notes	61,180,000	0	0
Termination of warrants related to the 0.625% Convertible Senior Notes	(94,292,000)	0	0
Net (repayment of) proceeds from revolving credit facility	(75,000,000)	(50,000,000)	125,000,000
Payment of debt issuance costs	(16,568,000)	(2,518,000)	(583,000)
Contingent consideration payments	(4,755,000)	(21,275,000)	(27,588,000)
Purchase of treasury stock	0	(5,470,000)	(93,704,000)
Acquisition of noncontrolling interest	0	0	(499,000)
Other financing activities	(184,000)	(9,000)	0
Net cash provided by (used in) financing activities attributable to continuing operations	193,290,000	(87,678,000)	4,843,000
Total cash provided by (used in) continuing operations	182,440,000	(31,564,000)	(254,247,000)
Discontinued operations:
Net cash used in operating activities attributable to discontinued operations	(72,730,000)	(13,255,000)	(13,236,000)
Total cash used in discontinued operations	(72,730,000)	(13,255,000)	(13,236,000)
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents	109,710,000	(44,819,000)	(267,483,000)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of period	60,339,000	105,158,000	372,641,000
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of period	170,049,000	60,339,000	105,158,000
Supplemental Cash Flow Elements [Abstract]
Increase (decrease) in capital expenditures included in accounts payable and accrued expenses	4,196,000	(946,000)	949,000
Capital additions from tenant improvement allowance	0	1,111,000	0
Supplemental cash flow information:
Interest paid	4,741,000	7,005,000	3,593,000
Income tax payments	561,000	25,000	541,000
Income tax refunds	60,000	4,743,000	5,678,000
ValuePenguin
Cash flows from investing activities attributable to continuing operations:
Payments to acquire business, net of cash acquired	0	(105,578,000)	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	3,980,000	27,103,000	6,833,000
Cash flows from investing activities attributable to continuing operations:
Payments to acquire business, net of cash acquired	0	482,000	(297,072,000)
Student Loan Hero
Cash flows from investing activities attributable to continuing operations:
Payments to acquire business, net of cash acquired	0	0	(59,483,000)
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	1,270,000	26,000	1,654,000
Cash flows from investing activities attributable to continuing operations:
Payments to acquire business, net of cash acquired	0	0	(11,566,000)
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	77,000	2,220,000	(330,000)
Changes in current assets and liabilities:
Current contingent consideration	(6,000,000.0)
Cash flows from investing activities attributable to continuing operations:
Payments to acquire businesses	0	0	(10,000)
Cash flows from financing activities attributable to continuing operations:
Contingent consideration payments	(3,300,000)	(3,000,000.0)
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	0	$ (947,000)	1,979,000
Changes in current assets and liabilities:
Current contingent consideration	$ 0
Cash flows from financing activities attributable to continuing operations:
Contingent consideration payments			$ (4,000,000.0)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)	Dec. 31, 2020	Jul. 24, 2020 Rate	May 31, 2017 Rate
2025 Convertible Notes
Interest rate	0.50%	0.50%
2022 Convertible Notes
Interest rate	0.625%		0.625%

ORGANIZATION	12 Months Ended
ORGANIZATION	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Company Overview LendingTree, Inc. is the parent of LT Intermediate Company, LLC, which holds all of the outstanding ownership interests of LendingTree, LLC, and LendingTree, LLC owns several companies (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 (loss) 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 21 —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.

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2020

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. 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. Approval fees are derived from credit card issuers when the credit card consumer receives card approval from the credit card issuer. 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 39 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 30 days or less.

Sales commissions are incremental costs of obtaining contracts with customers. The Company expenses sales commissions when incurred as the duration of contracts with customers is less than one year, based on the right of 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 (loss).

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, current and expected economic conditions and the specific customer's current and expected 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,
	2020		2019		2018
Balance, beginning of the period	$	1,466	$	1,143	$	675
Charges to earnings	1,785		1,697		880
Write-off of uncollectible accounts receivable	(1,859)		(1,400)		(435)
Recoveries collected	10		26		23
Balance, end of the period	$	1,402	$	1,466	$	1,143

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 chief operating decision maker, or 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

Hosting Arrangement that is a Service Contract

Subsequent to the adoption of Accounting Standards Update ("ASU") 2018-15 in the first quarter of 2020, as described below, qualifying implementation costs incurred in a hosting arrangement that is a service contract are capitalized and deferred on a straight-line basis over the term of the hosting arrangement, which is typically one to five years. These costs are capitalized to prepaid and other current assets and other non-current assets on the balance sheet, and the associated amortization expense is included within general and administrative expense on the statement of operations and comprehensive income (loss). The majority of such capitalized implementation costs arise from internal and external labor associated with software development, described below.

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, either as property and equipment or as a hosting arrangement that is a service contract, 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 impairment test for goodwill involves a comparison of the fair value of a reporting unit with its carrying amount, including goodwill. 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. If the carrying amount of a reporting unit exceeds its fair value, 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.

Results of the October 1, 2020 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.

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.

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.

Subsequent to the adoption of ASU 2018-15, described below, capitalized implementation costs incurred in a hosting arrangement that is a service contract are also allocated to and included within long-lived asset groups tested for recoverability.

Long-lived asset groups 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 group 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 group. 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 group exceeds its fair value.

At December 31, 2020 and 2019, the Company performed its review of impairment triggering events for long-lived asset groups and determined that a triggering event had not occurred.

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 (loss).

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, 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 $567.7 million, $688.2 million and $469.9 million for the years ended December 31, 2020, 2019 and 2018, respectively, and is included in selling and marketing expense on the consolidated statements of operations and comprehensive income (loss).

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, 2020, 2019 and 2018, 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.

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 and stock options. 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 stock option awards without a market condition is typically estimated using the Black-Scholes option pricing model, while the fair value of an RSU or RSA 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 typically valued using a Monte Carlo simulation model. Non-cash compensation expense for single cliff-vesting grants with a market condition are recognized on a straight-line basis, while graded-vesting grants with a market condition use graded vesting expense attribution.

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 (loss), 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: 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; assumptions related to the determination of stock-based compensation; and the determination of right-of-use assets and lease liabilities.

The Company considered the impact of the COVID-19 pandemic on the assumptions and estimates used when preparing its financial statements including, but not limited to, the allowance for doubtful accounts, valuation allowances, contract asset and contingent consideration. These assumptions and estimates may change as new events occur and additional information is obtained. If economic conditions caused by the COVID-19 pandemic do not recover as currently estimated by management, such future changes may have an adverse impact on the Company's results of operations, financial position and liquidity.

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, 2020, 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 years ended December 31, 2020 and 2019, one network partner accounted for 15% and 12%, respectively, 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.

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 August 2018, the Financial Accounting Standards Board ("FASB") issued ASU 2018-15, which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This ASU is effective for annual and interim reporting periods beginning after December 15,

2019. The amendments should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company adopted ASU 2018-15 in the first quarter of 2020 using the prospective approach. Subsequent to the adoption of this ASU, capitalizable implementation costs incurred in a hosting arrangement that is a service contract are recorded within prepaid and other current assets and other non-current assets on the consolidated balance sheet. The amortization expense associated with these capitalized implementation costs is included within general and administrative expense on the consolidated statement of operations and comprehensive income (loss). The adoption of ASU 2018-15 did not have a material impact on the consolidated financial statements as of and for the year ended December 31, 2020. See Note 6—Hosting Arrangements.

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 adopted ASU 2018-13 in the first quarter of 2020. See Note 18—Fair Value Measurement.

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 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 adopted ASU 2017-04 in the first quarter of 2020.

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. 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. 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 9—Business Acquisitions for additional information.

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 Company adopted ASC Topic 326 as of January 1, 2020, which did not result in any cumulative effect adjustment to the opening balance of accumulated deficit in the period of adoption.

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 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 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 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. 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 August 2020, the FASB issued ASU 2020-06, which simplifies the accounting for convertible instruments, amends the derivatives scope exception guidance for contracts in an entity’s own equity, and amends the related earnings-per-share guidance. This ASU is effective for annual and interim reporting periods beginning after December 15, 2021. Early adoption is permitted for fiscal years beginning after December 15, 2020, including adoption in interim periods. An entity should adopt the guidance as of the beginning of its annual fiscal year. An entity may adopt the amendments through either a modified retrospective method of transition or a fully retrospective method of transition. The Company expects the amendments to impact its convertible senior notes and warrants issued and is evaluating the impact this ASU will have on its consolidated financial statements and whether to early adopt.

In December 2019, the 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 does not expect material effects. The Company will adopt ASU 2019-12 in the first quarter of 2021.

REVENUE

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

REVENUE

Revenue is as follows (in thousands):


	Year Ended December 31,
	2020		2019		2018
Revenue:
Home	$	320,992	$	277,935	$	319,176
Credit cards	77,361		211,294		165,776
Personal loans	66,513		152,729		134,199
Other Consumer	109,324		151,014		95,640
Consumer	253,198		515,037		395,615
Insurance	333,765		284,792		31,369
Other	2,035		28,839		18,705
Total revenue	$	909,990	$	1,106,603	$	764,865

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 $6.4 million and $6.5 million on December 31, 2020 and 2019, 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 $0.7 million and $0.6 million at December 31, 2020 and 2019, respectively. During 2020, the Company recognized revenue of $0.6 million that was included in the contract liability balance at December 31, 2019. 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 $0.3 million, $4.4 million and $0.7 million in 2020, 2019 and 2018, respectively.

CASH AND RESTRICTED CASH

12 Months Ended

Dec. 31, 2020

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, 2020		December 31, 2019
Cash and cash equivalents	$	169,932	$	60,243
Restricted cash and cash equivalents	117		96
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$	170,049	$	60,339

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

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


	December 31, 2020		December 31, 2019
Computer equipment and capitalized software	$	34,777	$	28,425
Leasehold improvements	5,012		7,751
Furniture and other equipment	3,290		3,993
Aircraft and automobile	2,621		2,621
Projects in progress	36,919		6,552
Total gross property and equipment	82,619		49,342
Accumulated depreciation	(20,238)		(17,979)
Total property and equipment, net	$	62,381	$	31,363

Unamortized capitalized software development costs recorded in property and equipment, whether in service or under development, are $24.8 million and $19.9 million at December 31, 2020 and 2019, respectively. Capitalized software development depreciation expense was $11.1 million, $8.6 million and $6.1 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Long-lived assets located outside the United States, the Company's country of domicile, were $0.1 million at each of December 31, 2020 and 2019.

HOSTING ARRANGEMENTS

12 Months Ended

Dec. 31, 2020

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

HOSTING ARRANGEMENTS

The balance of capitalized implementation costs incurred in a hosting arrangement that is a service contract, which are recorded within prepaid and other current assets and other non-current assets, is as follows at December 31, 2020 (in thousands):


	Current portion		Non-current portion
Capitalized implementation costs	$	530	$	1,036
Projects in progress	505		1,154
Total gross	1,035		2,190
Accumulated amortization	—		(185)
Total net	$	1,035	$	2,005

Amortization expense included within general and administrative expense on the consolidated statement of operations and comprehensive income (loss) associated with these capitalized implementation costs was $0.2 million for the year ended December 31, 2020.

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2020

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, 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
Changes in goodwill	—		—		—
Balance at December 31, 2020	$	903,227	$	(483,088)	$	420,139

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


	December 31, 2020		December 31, 2019




Intangible assets with indefinite lives	$	10,142	$	10,142
Intangible assets with definite lives, net	118,360		171,438
Total intangible assets, net	$	128,502	$	181,580

Goodwill and Indefinite-Lived Intangible Assets

The Company's goodwill at each of December 31, 2020 and 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. Results of the annual impairment test as of October 1, 2020 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, 2020 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	4.3 years	$	87,700	$	(48,166)	$	39,534
Customer lists	13.2 years	77,300		(18,560)		58,740
Trademarks and tradenames	4.9 years	17,200		(9,947)		7,253
Website content	3.0 years	43,200		(30,367)		12,833

Balance at December 31, 2020		$	225,400	$	(107,040)	$	118,360


	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

Amortization of intangible assets with definite lives is computed on a straight-line basis and, based on balances as of December 31, 2020, future amortization is estimated to be as follows (in thousands):


	Amortization Expense
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
Year ending December 31, 2025	6,259
Thereafter	28,758
Total intangible assets with definite lives, net	$	118,360

EQUITY INVESTMENT	12 Months Ended
EQUITY INVESTMENT	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
EQUITY INVESTMENT	EQUITY INVESTMENT On February 28, 2020, the Company acquired an equity interest in Stash Financial, Inc. (“Stash”) for $80.0 million. Stash is a consumer investing and banking platform. Stash brings together banking, investing, and financial services education into one seamless experience offering a full suite of personal investment accounts, traditional and Roth IRAs, custodial investment accounts, and banking services, including checking accounts and debit cards with a Stock-Back® rewards program. The Stash equity securities do not have a readily determinable fair value and, upon acquisition, the Company elected the measurement alternative to value its securities. The Stash equity securities will be carried at cost and subsequently marked to market upon observable market events with any gains or losses recorded in operating income in the consolidated statement of operations. As of December 31, 2020, there have been no observable market events that would result in upward or downward adjustments in the fair value, and there have been no impairments to the original cost of $80.0 million.

BUSINESS ACQUISITIONS

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

BUSINESS ACQUISITIONS

Changes in Contingent Consideration

In 2018, the Company acquired all of the outstanding equity interests of QuoteWizard.com, LLC (“QuoteWizard”) and Ovation Credit Services, Inc. (“Ovation”). See 2018 Acquisitions—QuoteWizard and 2018 Acquisitions—Ovation below.

In 2017, the Company acquired certain assets of Snap Capital LLC, which does business under the name SnapCap (“SnapCap”). During 2020, the Company made the final earnout payments related to the achievement of certain defined earnings targets for SnapCap. The earnout payment of $3.0 million in 2019 is included within cash flows from financing activities on the consolidated statement of cash flows. Of the total earnout payments of $6.0 million in 2020, $3.3 million is included within cash flows from financing activities and $2.7 million is included within cash flows from operating activities on the consolidated statement of cash flows.

In 2017, the Company acquired all of the assets of Deposits Online, LLC, which does business under the name DepositAccounts.com (“DepositAccounts”). The Company made no earnout payments related to the DepositAccounts acquisition during 2020, and this earnout is complete. Total earnout payments of $4.0 million in 2018 are included within cash flows from financing activities on the consolidated statement of cash flows, except for an immaterial portion included within cash flows from operating activities. Total earnout payments of $3.0 million in 2019 are included within cash flows from operating activities on the consolidated statement of cash flows.

Changes in the fair value of contingent consideration is summarized as follows (in thousands):


	Year Ended December 31,
	2020		2019		2018
QuoteWizard	$	3,980	$	27,103	$	6,833
Ovation	1,270		26		1,654
SnapCap	77		2,220		(330)
DepositAccounts	—		(947)		1,979
CompareCards	—		—		652
Total changes in fair value of contingent consideration	$	5,327	$	28,402	$	10,788

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 (loss).

2018 Acquisitions

QuoteWizard

On October 31, 2018, the Company acquired QuoteWizard.com, LLC, 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. In the fourth quarter of 2020, the Company paid $20.2 million related to the earnout payment for the period of November 1, 2019 through October 31, 2020, which is included within cash flows from operating activities on the consolidated statement of cash flows.

As of December 31, 2020, the estimated fair value of the contingent consideration totaled $8.2 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 (loss). During 2020, 2019 and 2018, the Company recorded $4.0 million, $27.1 million and $6.8 million, respectively, of contingent consideration expense in the consolidated statements of operations and comprehensive income (loss) 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 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, 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 (loss).

The unaudited pro forma financial results for the year ended December 31, 2018 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 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
	(in thousands)
Pro forma revenue	$	900,978
Pro forma net income from continuing operations	$	110,015

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. 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, 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 (loss). 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 (loss).

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 reporting agencies 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 had the potential to 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. 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. In the fourth quarter of 2020, the Company paid $4.4 million related to the earnout payment for the period of July 1, 2019 through June 30, 2020, of which $1.4 million is included within cash flows from financing activities and $3.0 million is included within cash flows from operating activities on the consolidated statement of cash flows.


	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 (loss).

Pro forma Financial Results

The unaudited pro forma financial results for the years ended December 31, 2019 and 2018 combine the consolidated results of the Company and Ovation, Student Loan Hero, QuoteWizard and ValuePenguin, giving effect to the acquisitions 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, 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 QuoteWizard, as described above.


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

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. 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, and which will not have an ongoing impact, have been eliminated from the unaudited pro forma net income from continuing operations for 2018.

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2020

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

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


	December 31, 2020		December 31, 2019
Accrued advertising expense	$	54,045	$	65,836
Accrued compensation and benefits	14,081		10,540
Accrued professional fees	1,869		1,560
Customer deposits and escrows	8,153		6,920
Contribution to LendingTree Foundation	3,333		3,333
Current lease liabilities	5,375		6,885
Other	14,340		17,681
Total accrued expenses and other current liabilities	$	101,196	$	112,755

LEASES

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

LEASES

LEASESThe 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, 2020, right-of-use assets totaled $84.1 million and lease liabilities, the current portion of which is included in accrued expenses and other current liabilities in the accompanying balance sheet, totaled $97.7 million. At December 31, 2019, right-of-use assets totaled $25.5 million and lease liabilities totaled $28.2 million. During the second quarter of 2020 the right-of-use assets and lease liabilities increased $65.7 million due to commencement of the lease, as defined under ASC Topic 842, Leases, for the Company’s new principal executive offices currently under construction in Charlotte, North Carolina.

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


	Year Ended December 31,
	2020		2019
Operating lease cost	$	11,226	$	6,346
Short-term lease cost	59		86

Total lease cost	$	11,285	$	6,432

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


	December 31, 2020		December 31, 2019
Weighted average remaining lease term	13.0 years		5.0 years
Weighted average discount rate	5.0	%	4.7	%

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


	Year Ended December 31,
	2020		2019
Net cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,359	$	6,779
Right-of-use assets obtained in exchange for new operating lease liabilities	$	66,881	$	21,969

Maturities of lease liabilities as of December 31, 2020 are as follows (in thousands):


	Operating Leases
Year ending December 31, 2021	$	9,147
Year ending December 31, 2022	12,823
Year ending December 31, 2023	12,617
Year ending December 31, 2024	10,973
Year ending December 31, 2025	9,336
Thereafter	96,062
Total lease payments	150,958
Less: Interest	44,959
Less: Tenant improvement allowances	8,261
Present value of lease liabilities	$	97,738

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, which is included in general and administrative expense in the consolidated statements of operations and comprehensive income (loss).

The Company operated as a lessor in connection with office buildings in Charlotte, North Carolina acquired in December 2016. The properties were sold in 2019 to an unrelated third party. Rental income of $0.3 million in 2019 and $0.9 million in 2018 is included in other income on the accompanying consolidated statements of operations and comprehensive income (loss).

LEASES

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.


	Year Ended December 31,
	2020		2019
Operating lease cost	$	11,226	$	6,346
Short-term lease cost	59		86

Total lease cost	$	11,285	$	6,432

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


	December 31, 2020		December 31, 2019
Weighted average remaining lease term	13.0 years		5.0 years
Weighted average discount rate	5.0	%	4.7	%

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


	Year Ended December 31,
	2020		2019
Net cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,359	$	6,779
Right-of-use assets obtained in exchange for new operating lease liabilities	$	66,881	$	21,969

Maturities of lease liabilities as of December 31, 2020 are as follows (in thousands):


	Operating Leases
Year ending December 31, 2021	$	9,147
Year ending December 31, 2022	12,823
Year ending December 31, 2023	12,617
Year ending December 31, 2024	10,973
Year ending December 31, 2025	9,336
Thereafter	96,062
Total lease payments	150,958
Less: Interest	44,959
Less: Tenant improvement allowances	8,261
Present value of lease liabilities	$	97,738

SHAREHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

SHAREHOLDERS' EQUITY

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


	Year Ended December 31,
	2020	2019	2018
Weighted average basic common shares	13,007	12,834	12,504
Effect of stock options	—	747	1,043
Effect of dilutive share awards	—	167	153
Effect of Convertible Senior Notes and warrants	—	871	397
Weighted average diluted common shares	13,007	14,619	14,097

For the year ended December 31, 2020, the Company had a loss from continuing operations and, as a result, no potentially dilutive securities were included in the denominator for computing diluted loss per share, because the impact would have been anti-dilutive. Accordingly, the weighted average basic shares outstanding was used to compute loss per share. Approximately 1.1 million shares related to potentially dilutive securities were excluded from the calculation of diluted loss per share for the year ended December 31, 2020 because their inclusion would have been anti-dilutive. For the year ended December 31, 2020, the weighted average shares that were anti-dilutive included options to purchase 0.2 million shares of common stock.

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

The convertible notes and the warrants issued by the Company could be converted into the Company’s common stock, subject to certain contingencies. See Note 15—Debt for additional information. Shares of the Company's common stock associated with the 0.50% Convertible Senior Notes due July 15, 2025 and the warrants issued by the Company in 2020 were excluded from the calculation of diluted loss per share for the year ended December 31, 2020 as they were anti-dilutive since the conversion price of the notes and the strike price of the warrants were greater than the average market price of the Company’s common stock during the relevant period.

See Note 13—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 and 2018, the Company purchased 22,731 and 379,449 shares, respectively, of its common stock for aggregate consideration of $5.5 million and $92.6 million, respectively. At December 31, 2020, $179.7 million remains authorized for share repurchase.

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2020

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 (loss) (in thousands):


	Year Ended December 31,
	2020		2019		2018
Cost of revenue	$	1,319	$	755	$	378
Selling and marketing expense	6,240		5,785		3,568
General and administrative expense	39,650		39,177		34,325
Product development	6,524		6,450		6,094
Total non-cash compensation	$	53,733	$	52,167	$	44,365

For the years ended December 31, 2020, 2019 and 2018, the Company recognized $11.4 million, $12.2 million and $11.2 million of income tax benefit, including state taxes, related to non-cash compensation. Additionally, for the years ended December 31, 2020, 2019 and 2018, the Company recognized $2.5 million, $17.1 million and $77.6 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, 2019	777,871	$	69.87
Granted	203,582	290.27
Exercised	(47,630)	161.25
Forfeited	(5,396)	285.56
Expired	(3,717)	221.99
Outstanding at December 31, 2020	924,710	$	111.82	4.47	$	155,411
Options exercisable	663,239	$	44.49	2.63	$	153,243

(a)The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company's closing stock price of $273.79 on the last trading day of 2020 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, 2020. The intrinsic value changes based on the market value of the Company's common stock.

As of December 31, 2020, there was approximately $25.5 million of unrecognized compensation cost related to stock options. These costs are expected to be recognized over a weighted-average period of approximately 4.0 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, 2020, 2019 and 2018, the total intrinsic value of stock options that were exercised was $6.8 million, $50.2 million and $268.3 million, respectively. Cash received from stock option exercises and the related actual tax benefit realized were $7.7 million and $0.7 million, respectively, for the year ended December 31, 2020.

During the years ended December 31, 2020, 2019 and 2018, the Company granted stock options with a weighted average grant date fair value per share of $116.08, $167.10 and $150.55, 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, (e) 25% over a period of four years from the grant date, and (f) certain grants to executive officers that vest over periods of up to six years.

For purposes of determining stock-based compensation expense, the weighted average grant date fair value per share of the stock options, except the December 2020 grant to the Chairman and Chief Executive Officer described below, 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,
	2020	2019	2018
Expected term (1)	5.00 - 6.25 years	5.00 - 6.25 years	5.00 - 6.71 years
Expected dividend (2)	—	—	—
Expected volatility (3)	52% - 60%	51% - 55%	50% - 53%
Risk-free interest rate (4)	0.33% - 0.96%	1.46% - 2.55%	2.33% - 3.06%

(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, 2020, 2019 and 2018, no dividends are expected to be paid over the contractual term of the stock options, resulting in a zero expected dividend rate.

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

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

In December 2020, the Company granted time-based stock options to its Chairman and Chief Executive Officer at a premium exercise price of $300, representing an approximate 25% premium over the closing market price of LendingTree's common stock on the date of grant. The net after-tax shares acquired through exercise of these stock options are subject to a two-year post-exercise holding requirement. For purposes of determining stock-based compensation expense, the grant date fair value per share of these time-based stock options was estimated using the Monte Carlo simulation model. The key assumptions used in the valuation are as follows:

(1)An average expected term of 6.90 years based on the midpoint between the first day that the stock options are both vested and in-the-money and the end of the contractual term.

(2)A zero expected dividend rate as no dividends are expected to be paid over the contractual term of the stock options.

(3)An expected volatility rate of 52% based on the historical volatility of the Company's common stock.

(4)A risk-free interest rate of 0.92% based on U.S. Treasury yields for notes with comparable expected terms as the awards, in effect at the grant date.

(5)An 8.8% discount for the post-exercise holding requirement, calculated using the cost-of-carry method, the Chaffe protective put method, and the Finnerty model.

During the years ended December 31, 2020, 2019 and 2018, the total fair value of options vested was $5.8 million, $6.9 million and $11.4 million, respectively.

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, 2019	463,440	$	204.31
Granted	236,769	298.05
Exercised	—	—
Forfeited	—	—
Expired	—	—
Outstanding at December 31, 2020	700,209	$	236.01	7.75	$	36,238
Options exercisable	—	$	—	0	$	—

As of December 31, 2020, there was approximately $58.2 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. For single cliff-vesting stock options with market conditions, the fair value 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. For graded-vesting stock options with market conditions, the fair value will be recognized using graded vesting expense attribution, whether or not any of the total shareholder return targets are met.

During the years ended December 31, 2020, 2019 and 2018, the Company granted stock options with a weighted-average grant date fair value per share of $142.54, $230.81 and $296.80, respectively. The single cliff-vesting stock options granted during the years ended December 31, 2020, 2019 and 2018 have vest dates of March 31, 2024, March 31, 2023, March 31, 2022 and September 30, 2022. The graded-vesting stock options granted during the year ended December 31, 2020 have a vesting schedule with vesting dates of December 31, 2024, December 31, 2025 and December 31, 2026.

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 for single cliff-vesting stock options with a market condition are as follows:


	Year Ended December 31,
	2020		2019		2018
Expected term (1)	7.00 years		7.00 years		7.00 - 7.15 years
Expected dividend (2)	—		—		—
Expected volatility (3)	51	%	51	%	50	%
Risk-free interest rate (4)	1.03	%	2.54%		2.38% - 2.81%

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

(2)For all stock options with a market condition granted during the years ended December 31, 2020, 2019 and 2018, no dividends are expected to be paid over the contractual term of the stock options, resulting in a zero expected dividend rate.

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

In December 2020, the Company granted graded-vesting stock options with a market condition to its Chairman and Chief Executive Officer at a premium exercise price of $300, representing an approximate 25% premium over the closing market price of LendingTree's common stock on the date of grant. The net after-tax shares acquired through exercise of these stock options are subject to a two-year post-exercise holding requirement. The key assumptions used in the Monte Carlo simulation model to determine the grant date fair value per share of these graded-vesting stock options with a market condition are as follows:

(1)An average expected term of 7.54 years based on the midpoint between vesting and the end of the contractual term.

(2)A zero expected dividend rate as no dividends are expected to be paid over the contractual term of the stock options.

(3)An expected volatility rate of 52% based on the historical volatility of the Company's common stock.

(4)A risk-free interest rate of 0.92% based on U.S. Treasury yields for notes with comparable expected terms as the awards, in effect at the grant date.

(5)An 8.8% discount for the post-exercise holding requirement, calculated using the cost-of-carry method, the Chaffe protective put method, and the Finnerty model.

The single cliff-vesting stock options with a market condition granted in 2020 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 31,940 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, 2024. The graded-vesting stock options with a market condition granted in 2020 have a target number of shares that vest upon achieving a targeted total shareholder return performance of 135% stock price appreciation and a maximum of 363,464 shares for achieving superior performance. No shares will vest unless 81% of the targeted performance is achieved. The performance measurement period ends on March 31, 2025.

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.

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, 2020, 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, 2019	144,939	$	267.85
Granted (a)	138,418	286.42
Vested	(70,698)	239.15
Forfeited	(17,973)	285.95
Nonvested at December 31, 2020	194,686	$	289.82

(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, 2020, there was approximately $35.2 million of unrecognized compensation cost related to RSUs. These costs are expected to be recognized over a weighted-average period of approximately 1.7 years.

The total fair value of RSUs that vested during the years ended December 31, 2020, 2019 and 2018 was $22.4 million, $27.2 million and $21.8 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, 2019	14,647	$	210.55
Granted	—	—
Vested	(8,319)	200.40
Forfeited	—	—
Nonvested at December 31, 2020	6,328	$	223.90

No RSUs with performance conditions were granted in 2020 or 2019. During 2018, the Company granted RSUs with performance conditions to an employee with a 0.5 year vesting period, 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, 2020, there was approximately $1.1 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 0.8 years.

The total fair value of RSUs with performance conditions that vested during the years ended December 31, 2020, 2019, and 2018 was $2.6 million, $18.8 million, and $7.9 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, 2019	47,608	$	340.25
Granted	—	—
Vested	(23,804)	340.25
Forfeited	—	—
Nonvested at December 31, 2020	23,804	$	340.25

No RSAs with performance conditions were granted in 2020 or 2019. 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, 2020, there was approximately $4.4 million of unrecognized compensation cost related to RSAs with performance conditions. These costs are expected to be recognized over a period of approximately 1.0 year.

The total fair value of RSAs with performance conditions that vested during the years ended December 31, 2020, 2019 and 2018 was $6.2 million, $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, 2019	26,674	$	340.25
Granted	—	—
Vested	—	—
Forfeited	—	—
Nonvested at December 31, 2020	26,674	$	340.25

No RSAs with market conditions were granted in 2020 or 2019. 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, 2020, there was approximately $0.7 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 1.8 years.

As of December 31, 2020, 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, 2020

Income Tax Disclosure [Abstract]

INCOME TAXES

Income Tax Provision

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


	Year Ended December 31,
	2020		2019		2018
Current income tax (benefit) expense:
Federal	$	(10,705)	$	201	$	(1,470)
State	372		(125)		(204)
Current income tax (benefit) expense	(10,333)		76		(1,674)
Deferred income tax (benefit) provision:
Federal	(7,495)		(10,857)		(44,950)
State	(2,133)		2,302		(18,951)
Deferred income tax benefit	(9,628)		(8,555)		(63,901)
Income tax benefit	$	(19,961)	$	(8,479)	$	(65,575)

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


	Year Ended December 31,
	2020		2019		2018
Federal statutory income tax	$	(8,931)	$	6,506	$	9,186
State income taxes, net	(3,551)		(1,832)		(14,884)
Excess tax deductions on non-cash compensation	(2,033)		(13,971)		(59,601)
Impact of the Coronavirus Aid, Relief, and Economic Security Act	(6,104)		—		—
Research and experimentation tax credit	(3,800)		(5,794)		(2,523)
Impact of certain state legislation, net	—		3,932		—
Nondeductible executive compensation	1,778		988		163
Change in (release of) valuation allowance	2,100		954		(12)
Uncertain tax positions	458		922		289
Nondeductible meals & entertainment	99		428		310
Impact of Tax Cuts and Jobs Act	—		—		270
Other, net	23		(612)		1,227
Income tax benefit	$	(19,961)	$	(8,479)	$	(65,575)

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 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,
	2020		2019
Deferred tax assets:
Provision for accrued expenses	$	4,907	$	12,234
Leasing	24,864		7,299
Net operating loss carryforwards (a)	56,190		56,450
Non-cash compensation expense	20,746		15,805
Intangible assets	12,684		4,182
Interest limitation	4,059		987

Contingent liabilities	4,507		9,366
Tax credits	13,656		6,124
Other	3,605		446
Total gross deferred tax assets	145,218		112,893
Less: valuation allowance (b)	(5,802)		(4,102)
Total deferred tax assets, net of the valuation allowance	139,416		108,791
Deferred tax liabilities:
Leasing	(21,632)		(6,596)
Property and equipment	(5,015)		(4,748)

Other	(653)		(1,835)
Total gross deferred tax liabilities	(27,300)		(13,179)
Net deferred taxes	$	112,116	$	95,612

(a)At December 31, 2020, the Company had pre-tax consolidated federal net operating losses ("NOLs") of $179.5 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 $519.5 million at December 31, 2020 that will expire at various times between 2021 and 2040.

(b)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,
	2020		2019
Deferred income tax assets	$	96,224	$	87,664
Non-current assets of discontinued operations	15,892		7,948

Net deferred taxes	$	112,116	$	95,612

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, 2020, 2019 and 2018, the Company recorded a partial valuation allowance of $5.8 million, $4.1 million and $2.2 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,
	2020		2019		2018
Balance, beginning of the period	$	4,102	$	2,229	$	2,694
Charges to earnings	1,700		1,873		(465)

Balance, end of the period	$	5,802	$	4,102	$	2,229

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,
	2020		2019
Balance, beginning of the period	$	1,996	$	1,127
Additions based on tax positions of the current period	570		525
Additions based on tax positions of the prior period	47		344
Balance, end of the period	$	2,613	$	1,996

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, 2020, 2019 and 2018 is immaterial.

As of December 31, 2020 and 2019, the accrual for unrecognized tax benefits, including interest, was $2.6 million and $2.1 million, respectively, which would benefit the effective tax rate if recognized.

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, 2020, the Company is subject to a federal income tax examination for the tax years 2014 through 2019. In addition, the Company is subject to state and local tax examinations for the tax years 2014 through 2019.

DEBT

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

DEBT

Convertible Senior Notes

2025 Notes

On July 24, 2020, the Company issued $575.0 million aggregate principal amount of its 0.50% Convertible Senior Notes due July 15, 2025 (the “2025 Notes”) in a private placement. The issuance included $75.0 million aggregate principal amount of 2025 Notes under a 13-day purchase option which was exercised in full. The 2025 Notes bear interest at a rate of 0.50% per year, payable semi-annually on January 15 and July 15 of each year, beginning on January 15, 2021. The 2025 Notes will mature on July 15, 2025, unless earlier repurchased, redeemed or converted.

The initial conversion rate of the 2025 Notes is 2.1683 shares of the Company's common stock per $1,000 principal amount of 2025 Notes (which is equivalent to an initial conversion price of approximately $461.19 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 make-whole fundamental change prior to the maturity of the 2025 Notes or if the Company issues a notice of redemption for the 2025 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 2025 Notes in connection with such make-whole fundamental change or to convert its 2025 Notes called for redemption, as the case may be. Upon conversion, the 2025 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 2025 Notes in cash and any conversion premium in shares of its common stock.

The 2025 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 2025 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 March 13, 2025, the 2025 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, 2020 (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 2025 Notes) per $1,000 principal amount of 2025 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;

•if the Company calls such 2025 Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date, but only with respect to the notes called for redemption; or

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

Holders of the 2025 Notes were not entitled to convert the 2025 Notes during the calendar quarter ended December 31, 2020 as the last reported sale price of the Company's common stock, for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on September 30, 2020, was not greater than or equal to 130% of the conversion price of the 2025 Notes on each applicable trading day. Holders of the 2025 Notes are not entitled to convert the 2025 Notes during the calendar quarter ended March 31, 2021 as the last reported sale 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, 2020, was not greater than or equal to 130% of the conversion price of the 2025 Notes on each applicable trading day.

On or after March 13, 2025, until the close of business on the second scheduled trading day immediately preceding the maturity date of the 2025 Notes, holders of the 2025 Notes may convert all or a portion of their 2025 Notes regardless of the foregoing conditions.

The Company may not redeem the 2025 Notes prior to July 20, 2023. On or after July 20, 2023 and before the 41st scheduled trading day immediately before the maturity date, the Company may redeem for cash all or a portion of the 2025 Notes, at its option, 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 (and including the last trading day of such period) ending on, and including the last trading day immediately preceding the date of notice of redemption is greater than or equal to 130% of the conversion price on each applicable trading day. The redemption price will be equal to 100% of the principal amount of the 2025 Notes to be redeemed, plus any accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the 2025 Notes.

Upon the occurrence of a fundamental change prior to the maturity date of the 2025 Notes, holders of the 2025 Notes may require the Company to repurchase all or a portion of the 2025 Notes for cash at a price equal to 100% of the principal amount of the 2025 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 2025 Notes, exceeds the conversion price of the 2025 Notes, the 2025 Notes could have a dilutive effect, unless the Company elects, subject to certain conditions, to settle the principal amount of the 2025 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 2025 Notes were determined using an

interest rate of 5.30%, 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 $455.6 million and $119.4 million, respectively. Financing costs related to the issuance of the 2025 Notes were approximately $15.1 million, of which $12.0 million were allocated to the liability component and are being amortized to interest expense over the term of the debt and $3.1 million were allocated to the equity component.

During 2020, the Company recorded interest expense on the 2025 Notes of $11.5 million which consisted of $1.3 million associated with the 0.50% coupon rate, $9.3 million associated with the accretion of the debt discount, and $0.9 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, 2020, the fair value of the 2025 Notes is estimated to be approximately $564.1 million using the Level 1 observable input of the last quoted market price on December 31, 2020.

A summary of the gross carrying amount, unamortized debt cost, debt issuance costs and net carrying value of the liability component of the 2025 Notes are as follows (in thousands):


	December 31, 2020
Gross carrying amount	$	575,000
Unamortized debt discount	110,110
Debt issuance costs	11,056
Net carrying amount	$	453,834

2022 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 “2022 Notes”) in a private placement. The 2022 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 2022 Notes will mature on June 1, 2022, unless earlier repurchased or converted.

The initial conversion rate of the 2022 Notes is 4.8163 shares of the Company's common stock per $1,000 principal amount of 2022 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 make-whole fundamental change prior to the maturity of the 2022 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 2022 Notes in connection with such make-whole fundamental change. Upon conversion, the 2022 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 2022 Notes in cash and any conversion premium in shares of its common stock.

The 2022 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 2022 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 2022 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 2022 Notes) per $1,000 principal amount of 2022 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 2022 Notes were entitled to convert the 2022 Notes during the calendar quarter ended December 31, 2020 as the last reported sale price of the Company's common stock, for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on September 30, 2020, was greater than or equal to 130% of the conversion price of the 2022 Notes on each applicable trading day. Holders of the 2022 Notes are not entitled to convert the 2022 Notes during the calendar quarter ended March 31, 2021 as the last reported sale 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, 2020, was not greater than or equal to 130% of the conversion price of the 2022 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 2022 Notes, holders of the 2022 Notes may convert all or a portion of their 2022 Notes regardless of the foregoing conditions.

The Company may not redeem the 2022 Notes prior to the maturity date and no sinking fund is provided for the 2022 Notes. Upon the occurrence of a fundamental change prior to the maturity date of the 2022 Notes, holders of the 2022 Notes may require the Company to repurchase all or a portion of the 2022 Notes for cash at a price equal to 100% of the principal amount of the 2022 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 2022 Notes, exceeds the conversion price of the 2022 Notes, the 2022 Notes could have a dilutive effect, unless the Company elects, subject to certain conditions, to settle the principal amount of the 2022 Notes and any conversion premium in cash.

The separate components of debt and equity of the Company’s 2022 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 2022 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.

On July 24, 2020, the Company used approximately $234.0 million of the net proceeds from the issuance of the 2025 Notes to repurchase approximately $130.3 million principal amount of the 2022 Notes, including the payment of accrued and unpaid interest of approximately $0.1 million, through separate transactions with certain holders of the 2022 Notes. Of the consideration paid, $126.0 million was allocated to the extinguishment of the liability component of the notes, while the remaining $107.9 million was allocated to the reacquisition of the equity component and recorded as a reduction to additional paid-in capital in the consolidated statement of shareholders’ equity. The Company recognized a loss on debt extinguishment of $7.8 million in the third quarter of 2020, which is included in interest expense, net in the consolidated statements of operations and comprehensive income (loss).

During 2020, the Company recorded interest expense on the 2022 Notes of $13.0 million which consisted of $1.5 million associated with the 0.625% coupon rate, $10.3 million associated with the accretion of the debt discount, and $1.2 million associated with the amortization of the debt issuance costs. During 2019, the Company recorded interest expense on the 2022 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 2022 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. The debt discount is being amortized over the term of the debt.

As of December 31, 2020, the fair value of the 2022 Notes is estimated to be approximately $243.8 million using the Level 1 observable input of the last quoted market price on December 31, 2020.

A summary of the gross carrying amount, unamortized debt cost, debt issuance costs and net carrying value of the liability component of the 2022 Notes are as follows (in thousands):


	December 31, 2020		December 31, 2019
Gross carrying amount	$	169,690	$	299,991
Unamortized debt discount	10,815		31,789
Debt issuance costs	1,297		3,811
Net carrying amount	$	157,578	$	264,391

Convertible Note Hedge and Warrant Transactions

2020 Hedge and Warrants

On July 24, 2020, in connection with the issuance of the 2025 Notes, the Company entered into Convertible Note Hedge (the “2020 Hedge”) and warrant transactions with respect to the Company’s common stock. The Company used approximately $63.0 million of the net proceeds from the 2025 Notes to pay for the cost of the 2020 Hedge, after such cost was partially offset by the proceeds from the warrant transactions.

On July 24, 2020, the Company paid $124.2 million to the counterparties for the 2020 Hedge transactions. The 2020 Hedge transactions cover 1.2 million shares of the Company’s common stock, the same number of shares initially underlying the 2025 Notes, and are exercisable upon any conversion of the 2025 Notes. The 2020 Hedge transactions are expected generally to reduce the potential dilution to the Company's common stock upon conversion of the 2025 Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of the converted 2025 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 2020 Hedge transactions, is greater than the strike price of the 2020 Hedge transactions, which initially corresponds to the initial conversion price of the 2025 Notes, or approximately $461.19 per share of common stock. The 2020 Hedge transactions will expire upon the maturity of the Notes.

On July 24, 2020, the Company sold to the counterparties, warrants (the “2020 Warrants”) to acquire 1.2 million shares of the Company's common stock at an initial strike price of $709.52 per share, which represents a premium of 100% over the last reported sale price of the common stock of $354.76 on July 21, 2020. On July 24, 2020, the Company received aggregate proceeds of approximately $61.2 million from the sale of the 2020 Warrants. If the market price per share of the common stock, as measured under the terms of the 2020 Warrants, exceeds the strike price of the 2020 Warrants, the 2020 Warrants could have a dilutive effect, unless the Company elects, subject to certain conditions, to settle the 2020 Warrants in cash.

The 2020 Hedge and 2020 Warrants transactions are indexed to, and potentially settled in, the Company's common stock and the net cost of $63.0 million has been recorded as a reduction to additional paid-in capital in the consolidated statement of shareholders’ equity.

2017 Hedge and Warrants

On May 31, 2017, in connection with the issuance of the 2022 Notes, the Company entered into Convertible Note Hedge (the “2017 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 2022 Notes to pay for the cost of the 2017 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 2017 Hedge transactions. The 2017 Hedge transactions initially covered 1.4 million shares of the Company’s common stock, the same number of shares initially underlying the 2022 Notes, and are exercisable upon any conversion of the 2022 Notes. The 2017 Hedge transactions are expected generally to reduce the potential dilution to the Company's common stock upon conversion of the 2022 Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of the converted 2022 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 2017 Hedge transactions, is greater than the strike price of the 2017 Hedge transactions, which initially corresponds to the initial conversion price of the 2022 Notes, or approximately $207.63 per share of common stock. The 2017 Hedge transactions will expire upon the maturity of the Notes.

On May 31, 2017, the Company sold to the counterparties, warrants (the “2017 Warrants”) to acquire 1.4 million shares of the Company's common stock at an initial strike price of $266.39 per share, which represents a premium of 70% over the last 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 2017 Warrants. If the market price per share of the common stock, as measured under the terms of the 2017 Warrants, exceeds the strike price of the 2017 Warrants, the 2017 Warrants could have a dilutive effect, unless the Company elects, subject to certain conditions, to settle the 2017 Warrants in cash.

The 2017 Hedge and 2017 Warrants transactions are indexed to, and potentially settled in, the Company's common stock and the net cost of $18.1 million was recorded as a reduction to additional paid-in capital in the consolidated statement of shareholders’ equity.

To the extent of the repurchases of the 2022 Notes noted above, the Company entered into agreements with the counterparties for the 2017 Hedge and 2017 Warrants transactions to terminate a portion of these call spread transactions effective July 24, 2020 in notional amounts corresponding to the principal amount of the 2022 Notes repurchased. Subsequent

to such termination, the outstanding portion of the 2017 Hedge covers 0.8 million shares of the Company's common stock and 2017 Warrants to acquire 0.8 million shares of the Company's common stock remain outstanding. The Company received $109.9 million and paid $94.3 million as a result of terminating such portions of the 2017 Hedge and 2017 Warrants, respectively. The net $15.6 million has been recorded as an increase 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, 2020, the Company had no borrowings outstanding under the Amended Revolving Credit Facility. 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.

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. At each of December 31, 2020 and December 31, 2019, the Company had 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.

On July 21, 2020, the Company executed a temporary amendment to its Amended Revolving Credit Facility to provide for certain covenant relief, primarily to facilitate the issuance of the 2025 Notes, the repurchase of a portion of the 2022 Notes, and to pay down existing borrowings under the credit facility.

The amendment amends the existing credit agreement to, among other things: (i) temporarily replace the total consolidated debt to EBITDA ratio covenant with a consolidated liquidity covenant requiring the Company to maintain unrestricted cash and cash equivalents in the United States plus amounts available and permitted to be drawn under the Amended Revolving Credit Facility to be no less than $200.0 million; (ii) impose additional limitations on certain restricted payments during such temporary period; and (iii) increase the applicable margins to (x) 2.25% for loans based on the LIBO rate and (y) 1.25% for loans based on the base rate, subject to a 0.75% floor, and unused commitment fees to 0.50% under the Amended Revolving

Credit Facility during the temporary period. These amendments shall apply from the effective date through the fiscal quarter ending June 30, 2021, unless terminated in advance by the Company.

The Company was in compliance with all covenants at December 31, 2020.

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).

Except as noted in the covenant relief discussion above, 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 in additional interest expense in the fourth quarter of 2019 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. Debt issuance costs of $1.1 million related to the July 21, 2020 temporary amendment are being amortized to interest expense through June 30, 2021, unless the temporary amendment is terminated in advance by the Company. Unamortized debt issuance costs are included in prepaid and other current assets and other non-current assets in the Company's consolidated balance sheet.

During 2020, the Company recorded interest expense related to the revolving credit facility of $4.3 million which consisted of $1.3 million associated with borrowings bearing interest at the LIBO rate, $1.7 million in unused commitment fees, and $1.3 million associated with the amortization of the debt issuance costs. 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 borrowings 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.

COMMITMENTS

12 Months Ended

Dec. 31, 2020

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)	$	5,077	$	4,952	$	125	$	—	$	—

(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 2025, where the aggregate commitments for these contracts range from $0.2 million to $5.2 million each year throughout the remaining life of the contract.

CONTINGENCIES	12 Months Ended
CONTINGENCIES	Dec. 31, 2020
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 17, 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, 2020, the Company had litigation settlement accruals of $0.1 million and $0.5 million in continuing operations and discontinued operations, respectively. 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. 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 21—Discontinued Operations for additional information.

FAIR VALUE MEASUREMENT

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENTS

Other than the convertible notes and warrants, as well as the equity interest in Stash, the carrying amounts of the Company's financial instruments are equal to fair value at December 31, 2020. See Note 15—Debt for additional information on the convertible notes and warrants, and see Note 8—Equity Investment for additional information on the equity interest in Stash.

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, 2020, 2019 and 2018 are as follows (in thousands):


	Year Ended December 31,
	2020		2019		2018
Contingent consideration, beginning of period	$	33,464	$	38,837	$	57,349
Transfers into Level 3	—		—		—
Transfers out of Level 3	—		—		—
Total net losses included in earnings (realized and unrealized)	5,327		28,402		10,788
Purchases, sales and settlements:
Additions	—		—		19,700
Payments	(30,542)		(33,775)		(49,000)
Contingent consideration, end of period	$	8,249	$	33,464	$	38,837

The contingent consideration liability at December 31, 2020 consisted of the estimated fair value of the remaining earnout payment for the QuoteWizard acquisition. 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 Company will make an earnout payment ranging from zero to $23.4 million based on the achievement of certain defined performance targets for QuoteWizard. See Note 9—Business Acquisitions for additional information.

The significant unobservable inputs used to calculate the fair value of the contingent consideration for QuoteWizard are the operating results growth rate 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 consideration. 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 (loss).

The following table provides quantitative information about Level 3 fair value measurements.


	Fair Value at December 31, 2020		Valuation Technique	Unobservable Input	Range (Weighted Average)(a)
	(in thousands)
Contingent consideration	$	8,249	Option pricing model	Operating results growth rate	4.8	%
				Discount rate	6.8	%

(a) Discount rates are weighted by the relative undiscounted value of expected earnout payments. Other unobservable inputs are weighted by the relative maximum potential earnout payments.

- 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, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS A then-member of the Company's board of directors served as a director to a marketing partner of the Company through 2018. During 2018, the Company recognized $0.7 million 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. In each of 2020 and 2019, the Company paid $3.3 million of the $10.0 million contribution, and expects to pay the final installment in 2021. Officers of the Company serve as officers of the LendingTree Foundation.

BENEFIT PLANS	12 Months Ended
BENEFIT PLANS	Dec. 31, 2020
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 ($19,500 for 2020, $19,000 for 2019, and $18,500 for 2018). 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 $2.4 million, $2.0 million and $1.4 million for the years ended December 31, 2020, 2019 and 2018, respectively.

DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

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. A portion of the purchase price received 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. Certain liability for losses on previously sold loans remains with HLC.

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.

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. 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. During the second quarter of 2020, LendingTree, LLC and HLC entered into a settlement agreement in the amount of $36.0 million for the release of any and all claims against the Company defendants by HLC, including the dividend claim. The bankruptcy court held a hearing on July 16, 2020 on the motion to approve the settlement to which no objections were made, and approved the settlement the same day. The $36.0 million settlement payment was made in the third quarter of 2020. 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, the Company’s indenture dated May 31, 2017 with respect to the Company’s 0.625% Convertible Senior Notes due 2022, or the Company’s indenture dated July 24, 2020 with respect to the Company’s 0.50% Convertible Senior Notes due 2025.

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, LLC, 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. 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. On March 20, 2020, the court denied the Company's motion to dismiss, or in the alternative, to compel arbitration, and on April 3, 2020, the Company appealed the court's findings with respect to the Company's request to compel arbitration of the first count of the lawsuit. On June 17, 2020, the Company entered into a settlement agreement with ResCap, pursuant to which, the Company agreed to, among other things, pay ResCap $58.5 million, less any amounts ResCap receives in the HLC bankruptcy, in exchange for, among other things, ResCap releasing any and all claims against the Company, and the Company’s directors and officers, including any claims asserted in ResCap v. LendingTree. Pursuant to the settlement agreement, the Company will be responsible for the difference of $58.5 million minus the amount that ResCap receives through the HLC Bankruptcy. In the third and fourth quarters of 2020, the Company made payments of $26.5 million and $6.4 million, respectively, to the ResCap Liquidating Trust. The Company expects to be refunded $8.6 million of these amounts, subsequent to the final distributions in the HLC Bankruptcy. This $8.6 million is recorded within current assets of discontinued operations on the accompanying consolidated balance sheet as of December 31, 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. On June 11, 2020, LBHI filed a lawsuit captioned Lehman Brothers Holdings Inc. v. LendingTree, LLC, et al., Case No. 20-cv-01351 (U.S. Dist. Ct., Minn.), seeking to hold the Company liable for their allowed bankruptcy claim of $13.3 million, under assumption of liability, agency and alter ego theories. The Company believes that these claims lack merit and intends to defend this action vigorously. In the third quarter of 2020, the Company made a settlement offer to LBHI for $0.5 million, which is included as a liability on the accompanying consolidated balance sheet as of December 31, 2020.

Financial Information of Discontinued Operations

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


	Year Ended December 31,
	2020		2019		2018
Revenue	$	—	$	—	$	—

Gain from removal of HLC's assets and liabilities	—		4,515		—
Other operating expenses	(33,308)		(35,002)		(16,228)
Loss before income taxes	(33,308)		(30,487)		(16,228)
Income tax benefit	7,619		8,855		3,408
Net loss	$	(25,689)	$	(21,632)	$	(12,820)

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.

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2020

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, 2020.

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. The Company ceased reselling online advertising space during the first quarter of 2020.


	Year Ended December 31, 2020
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	320,992	$	253,198	$	333,765	$	2,035	$	909,990
Segment cost of revenue and marketing expense	188,869		146,308		202,623		2,717		540,517
Segment profit (loss)	132,123		106,890		131,142		(682)		369,473
Cost of revenue (exclusive of cost of advertising re-sold to third parties included above)									53,408
Brand and other marketing expense									77,973
General and administrative expense									129,101
Product development									43,636
Depreciation									14,201
Amortization of intangibles									53,078
Change in fair value of contingent consideration									5,327
Severance									295
Litigation settlements and contingencies									(943)
Operating loss									(6,603)
Interest expense, net									(36,300)
Other income									376
Loss before income taxes and discontinued operations									$	(42,527)


	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

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

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2020

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.

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

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.

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

Hosting Arrangement that is a Service Contract

Hosting Arrangement that is a Service ContractSubsequent to the adoption of Accounting Standards Update ("ASU") 2018-15 in the first quarter of 2020, as described below, qualifying implementation costs incurred in a hosting arrangement that is a service contract are capitalized and deferred on a straight-line basis over the term of the hosting arrangement, which is typically one to five years. These costs are capitalized to prepaid and other current assets and other non-current assets on the balance sheet, and the associated amortization expense is included within general and administrative expense on the statement of operations and comprehensive income (loss). The majority of such capitalized implementation costs arise from internal and external labor associated with software development

Software Development Costs

Goodwill and Indefinite-Lived Intangible Assets

Long-Lived Assets and Intangible Assets with Definite Lives

At December 31, 2020 and 2019, the Company performed its review of impairment triggering events for long-lived asset groups and determined that a triggering event had not occurred.

Fair Value Measurements

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

Cost of Revenue

Product Development

Product DevelopmentProduct 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

AdvertisingAdvertising 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.

Income Taxes

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


	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, 2020

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,
	2020		2019		2018
Balance, beginning of the period	$	1,466	$	1,143	$	675
Charges to earnings	1,785		1,697		880
Write-off of uncollectible accounts receivable	(1,859)		(1,400)		(435)
Recoveries collected	10		26		23
Balance, end of the period	$	1,402	$	1,466	$	1,143

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, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Revenue is as follows (in thousands):


	Year Ended December 31,
	2020		2019		2018
Revenue:
Home	$	320,992	$	277,935	$	319,176
Credit cards	77,361		211,294		165,776
Personal loans	66,513		152,729		134,199
Other Consumer	109,324		151,014		95,640
Consumer	253,198		515,037		395,615
Insurance	333,765		284,792		31,369
Other	2,035		28,839		18,705
Total revenue	$	909,990	$	1,106,603	$	764,865

CASH AND RESTRICTED CASH (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020		December 31, 2019
Cash and cash equivalents	$	169,932	$	60,243
Restricted cash and cash equivalents	117		96
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$	170,049	$	60,339

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020		December 31, 2019
Computer equipment and capitalized software	$	34,777	$	28,425
Leasehold improvements	5,012		7,751
Furniture and other equipment	3,290		3,993
Aircraft and automobile	2,621		2,621
Projects in progress	36,919		6,552
Total gross property and equipment	82,619		49,342
Accumulated depreciation	(20,238)		(17,979)
Total property and equipment, net	$	62,381	$	31,363

HOSTING ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2020

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of capitalized implementation costs


	Current portion		Non-current portion
Capitalized implementation costs	$	530	$	1,036
Projects in progress	505		1,154
Total gross	1,035		2,190
Accumulated amortization	—		(185)
Total net	$	1,035	$	2,005

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2020

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, 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
Changes in goodwill	—		—		—
Balance at December 31, 2020	$	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, 2020		December 31, 2019




Intangible assets with indefinite lives	$	10,142	$	10,142
Intangible assets with definite lives, net	118,360		171,438
Total intangible assets, net	$	128,502	$	181,580

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	4.3 years	$	87,700	$	(48,166)	$	39,534
Customer lists	13.2 years	77,300		(18,560)		58,740
Trademarks and tradenames	4.9 years	17,200		(9,947)		7,253
Website content	3.0 years	43,200		(30,367)		12,833

Balance at December 31, 2020		$	225,400	$	(107,040)	$	118,360


	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

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


	Amortization Expense
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
Year ending December 31, 2025	6,259
Thereafter	28,758
Total intangible assets with definite lives, net	$	118,360

BUSINESS ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Schedule of contingent considerations

Changes in the fair value of contingent consideration is summarized as follows (in thousands):


	Year Ended December 31,
	2020		2019		2018
QuoteWizard	$	3,980	$	27,103	$	6,833
Ovation	1,270		26		1,654
SnapCap	77		2,220		(330)
DepositAccounts	—		(947)		1,979
CompareCards	—		—		652
Total changes in fair value of contingent consideration	$	5,327	$	28,402	$	10,788

Schedule of assets acquired and liabilities assumed in a business acquisition

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

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

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

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

(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 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

(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

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


	2018
	(in thousands)
Pro forma revenue	$	900,978
Pro forma net income from continuing operations	$	110,015


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

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020		December 31, 2019
Accrued advertising expense	$	54,045	$	65,836
Accrued compensation and benefits	14,081		10,540
Accrued professional fees	1,869		1,560
Customer deposits and escrows	8,153		6,920
Contribution to LendingTree Foundation	3,333		3,333
Current lease liabilities	5,375		6,885
Other	14,340		17,681
Total accrued expenses and other current liabilities	$	101,196	$	112,755

LEASES (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Summary of lease costs


	Year Ended December 31,
	2020		2019
Operating lease cost	$	11,226	$	6,346
Short-term lease cost	59		86

Total lease cost	$	11,285	$	6,432

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


	December 31, 2020		December 31, 2019
Weighted average remaining lease term	13.0 years		5.0 years
Weighted average discount rate	5.0	%	4.7	%

Schedule of supplemental cash flow

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


	Year Ended December 31,
	2020		2019
Net cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,359	$	6,779
Right-of-use assets obtained in exchange for new operating lease liabilities	$	66,881	$	21,969

Schedule of lease maturity

Maturities of lease liabilities as of December 31, 2020 are as follows (in thousands):


	Operating Leases
Year ending December 31, 2021	$	9,147
Year ending December 31, 2022	12,823
Year ending December 31, 2023	12,617
Year ending December 31, 2024	10,973
Year ending December 31, 2025	9,336
Thereafter	96,062
Total lease payments	150,958
Less: Interest	44,959
Less: Tenant improvement allowances	8,261
Present value of lease liabilities	$	97,738

SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted earnings per share

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


	Year Ended December 31,
	2020	2019	2018
Weighted average basic common shares	13,007	12,834	12,504
Effect of stock options	—	747	1,043
Effect of dilutive share awards	—	167	153
Effect of Convertible Senior Notes and warrants	—	871	397
Weighted average diluted common shares	13,007	14,619	14,097

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2020

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 (loss) (in thousands):


	Year Ended December 31,
	2020		2019		2018
Cost of revenue	$	1,319	$	755	$	378
Selling and marketing expense	6,240		5,785		3,568
General and administrative expense	39,650		39,177		34,325
Product development	6,524		6,450		6,094
Total non-cash compensation	$	53,733	$	52,167	$	44,365

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, 2019	777,871	$	69.87
Granted	203,582	290.27
Exercised	(47,630)	161.25
Forfeited	(5,396)	285.56
Expired	(3,717)	221.99
Outstanding at December 31, 2020	924,710	$	111.82	4.47	$	155,411
Options exercisable	663,239	$	44.49	2.63	$	153,243

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, 2019	463,440	$	204.31
Granted	236,769	298.05
Exercised	—	—
Forfeited	—	—
Expired	—	—
Outstanding at December 31, 2020	700,209	$	236.01	7.75	$	36,238
Options exercisable	—	$	—	0	$	—

Summary of stock option valuation assumptions


	Year Ended December 31,
	2020	2019	2018
Expected term (1)	5.00 - 6.25 years	5.00 - 6.25 years	5.00 - 6.71 years
Expected dividend (2)	—	—	—
Expected volatility (3)	52% - 60%	51% - 55%	50% - 53%
Risk-free interest rate (4)	0.33% - 0.96%	1.46% - 2.55%	2.33% - 3.06%

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

The weighted-average assumptions used for single cliff-vesting stock options with a market condition are as follows:


	Year Ended December 31,
	2020		2019		2018
Expected term (1)	7.00 years		7.00 years		7.00 - 7.15 years
Expected dividend (2)	—		—		—
Expected volatility (3)	51	%	51	%	50	%
Risk-free interest rate (4)	1.03	%	2.54%		2.38% - 2.81%

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

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

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

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, 2019	144,939	$	267.85
Granted (a)	138,418	286.42
Vested	(70,698)	239.15
Forfeited	(17,973)	285.95
Nonvested at December 31, 2020	194,686	$	289.82

(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, 2019	14,647	$	210.55
Granted	—	—
Vested	(8,319)	200.40
Forfeited	—	—
Nonvested at December 31, 2020	6,328	$	223.90

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, 2019	47,608	$	340.25
Granted	—	—
Vested	(23,804)	340.25
Forfeited	—	—
Nonvested at December 31, 2020	23,804	$	340.25

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, 2019	26,674	$	340.25
Granted	—	—
Vested	—	—
Forfeited	—	—
Nonvested at December 31, 2020	26,674	$	340.25

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of components of the income tax provision (benefit)

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


	Year Ended December 31,
	2020		2019		2018
Current income tax (benefit) expense:
Federal	$	(10,705)	$	201	$	(1,470)
State	372		(125)		(204)
Current income tax (benefit) expense	(10,333)		76		(1,674)
Deferred income tax (benefit) provision:
Federal	(7,495)		(10,857)		(44,950)
State	(2,133)		2,302		(18,951)
Deferred income tax benefit	(9,628)		(8,555)		(63,901)
Income tax benefit	$	(19,961)	$	(8,479)	$	(65,575)

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,
	2020		2019		2018
Federal statutory income tax	$	(8,931)	$	6,506	$	9,186
State income taxes, net	(3,551)		(1,832)		(14,884)
Excess tax deductions on non-cash compensation	(2,033)		(13,971)		(59,601)
Impact of the Coronavirus Aid, Relief, and Economic Security Act	(6,104)		—		—
Research and experimentation tax credit	(3,800)		(5,794)		(2,523)
Impact of certain state legislation, net	—		3,932		—
Nondeductible executive compensation	1,778		988		163
Change in (release of) valuation allowance	2,100		954		(12)
Uncertain tax positions	458		922		289
Nondeductible meals & entertainment	99		428		310
Impact of Tax Cuts and Jobs Act	—		—		270
Other, net	23		(612)		1,227
Income tax benefit	$	(19,961)	$	(8,479)	$	(65,575)

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,
	2020		2019
Deferred tax assets:
Provision for accrued expenses	$	4,907	$	12,234
Leasing	24,864		7,299
Net operating loss carryforwards (a)	56,190		56,450
Non-cash compensation expense	20,746		15,805
Intangible assets	12,684		4,182
Interest limitation	4,059		987

Contingent liabilities	4,507		9,366
Tax credits	13,656		6,124
Other	3,605		446
Total gross deferred tax assets	145,218		112,893
Less: valuation allowance (b)	(5,802)		(4,102)
Total deferred tax assets, net of the valuation allowance	139,416		108,791
Deferred tax liabilities:
Leasing	(21,632)		(6,596)
Property and equipment	(5,015)		(4,748)

Other	(653)		(1,835)
Total gross deferred tax liabilities	(27,300)		(13,179)
Net deferred taxes	$	112,116	$	95,612

(b)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,
	2020		2019
Deferred income tax assets	$	96,224	$	87,664
Non-current assets of discontinued operations	15,892		7,948

Net deferred taxes	$	112,116	$	95,612

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,
	2020		2019		2018
Balance, beginning of the period	$	4,102	$	2,229	$	2,694
Charges to earnings	1,700		1,873		(465)

Balance, end of the period	$	5,802	$	4,102	$	2,229

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,
	2020		2019
Balance, beginning of the period	$	1,996	$	1,127
Additions based on tax positions of the current period	570		525
Additions based on tax positions of the prior period	47		344
Balance, end of the period	$	2,613	$	1,996

DEBT (Tables)

12 Months Ended

Dec. 31, 2020

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 2025 Notes are as follows (in thousands):


	December 31, 2020
Gross carrying amount	$	575,000
Unamortized debt discount	110,110
Debt issuance costs	11,056
Net carrying amount	$	453,834

A summary of the gross carrying amount, unamortized debt cost, debt issuance costs and net carrying value of the liability component of the 2022 Notes are as follows (in thousands):


	December 31, 2020		December 31, 2019
Gross carrying amount	$	169,690	$	299,991
Unamortized debt discount	10,815		31,789
Debt issuance costs	1,297		3,811
Net carrying amount	$	157,578	$	264,391

COMMITMENTS (Tables)

12 Months Ended

Dec. 31, 2020

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)	$	5,077	$	4,952	$	125	$	—	$	—

FAIR VALUE MEASUREMENT (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020, 2019 and 2018 are as follows (in thousands):


	Year Ended December 31,
	2020		2019		2018
Contingent consideration, beginning of period	$	33,464	$	38,837	$	57,349
Transfers into Level 3	—		—		—
Transfers out of Level 3	—		—		—
Total net losses included in earnings (realized and unrealized)	5,327		28,402		10,788
Purchases, sales and settlements:
Additions	—		—		19,700
Payments	(30,542)		(33,775)		(49,000)
Contingent consideration, end of period	$	8,249	$	33,464	$	38,837

Schedule of quantitative information about Level 3 fair value measurements

The following table provides quantitative information about Level 3 fair value measurements.


	Fair Value at December 31, 2020		Valuation Technique	Unobservable Input	Range (Weighted Average)(a)
	(in thousands)
Contingent consideration	$	8,249	Option pricing model	Operating results growth rate	4.8	%
				Discount rate	6.8	%

(a) Discount rates are weighted by the relative undiscounted value of expected earnout payments. Other unobservable inputs are weighted by the relative maximum potential earnout payments.

DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

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 (loss) are as follows (in thousands):


	Year Ended December 31,
	2020		2019		2018
Revenue	$	—	$	—	$	—

Gain from removal of HLC's assets and liabilities	—		4,515		—
Other operating expenses	(33,308)		(35,002)		(16,228)
Loss before income taxes	(33,308)		(30,487)		(16,228)
Income tax benefit	7,619		8,855		3,408
Net loss	$	(25,689)	$	(21,632)	$	(12,820)

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of segment reporting information


	Year Ended December 31, 2020
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	320,992	$	253,198	$	333,765	$	2,035	$	909,990
Segment cost of revenue and marketing expense	188,869		146,308		202,623		2,717		540,517
Segment profit (loss)	132,123		106,890		131,142		(682)		369,473
Cost of revenue (exclusive of cost of advertising re-sold to third parties included above)									53,408
Brand and other marketing expense									77,973
General and administrative expense									129,101
Product development									43,636
Depreciation									14,201
Amortization of intangibles									53,078
Change in fair value of contingent consideration									5,327
Severance									295
Litigation settlements and contingencies									(943)
Operating loss									(6,603)
Interest expense, net									(36,300)
Other income									376
Loss before income taxes and discontinued operations									$	(42,527)


	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

SIGNIFICANT ACCOUNTING POLICIES - Schedule of reconciliation of the allowance for doubtful accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of the period	$ 1,466	$ 1,143	$ 675
Charges to earnings	1,785	1,697	880
Write-off of uncollectible accounts receivable	(1,859)	(1,400)	(435)
Recoveries collected	10	26	23
Balance, end of the period	$ 1,402	$ 1,466	$ 1,143

SIGNIFICANT ACCOUNTING POLICIES - Additional information (Details) $ in Thousands			3 Months Ended	12 Months Ended
	Sep. 30, 2019 segment	Oct. 31, 2018 segment	Dec. 31, 2017 USD ($)	Dec. 31, 2020 USD ($) segment	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jan. 01, 2019 USD ($)	Jan. 01, 2018 USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Number of reportable segments \| segment	1	1		3
Advertising expense				$ 567,700	$ 688,200	$ 469,900
Change in accounting estimate								$ 1,000
Provisional estimate for remeasurement of deferred tax assets and liabilities from Tax Cuts and Jobs Act			$ 9,100			$ 9,100
Liabilities				824,229	545,643
Assets				$ 1,188,990	$ 947,969
Cumulative effect adjustment \| ASU 2016-02
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Liabilities							$ 8,800
Assets							$ 8,800
Minimum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Hosting arrangement, amortization period				1 year
Minimum \| Software development
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Depreciation period				1 year
Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Hosting arrangement, amortization period				5 years
Maximum \| Software development
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Depreciation period				5 years

SIGNIFICANT ACCOUNTING POLICIES - Schedule of depreciation period for each asset category (Details )	12 Months Ended
	Dec. 31, 2020
Computer equipment and capitalized software \| Minimum
Property, Plant and Equipment [Line Items]
Depreciation period	1 year
Computer equipment and capitalized software \| Maximum
Property, Plant and Equipment [Line Items]
Depreciation period	5 years
Furniture and other equipment
Property, Plant and Equipment [Line Items]
Depreciation period	7 years
Aircraft and automobile \| Minimum
Property, Plant and Equipment [Line Items]
Depreciation period	5 years
Aircraft and automobile \| Maximum
Property, Plant and Equipment [Line Items]
Depreciation period	10 years
Software development \| Minimum
Property, Plant and Equipment [Line Items]
Depreciation period	1 year
Software development \| Maximum
Property, Plant and Equipment [Line Items]
Depreciation period	5 years

SIGNIFICANT ACCOUNTING POLICIES - Concentration Risk (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue \| Customer concentration \| Customer one
Certain Risks and Concentrations
Concentration risk	15.00%	12.00%

SIGNIFICANT ACCOUNTING POLICIES - Schedule of effect of new accounting pronouncements (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid and other current assets	$ 27,949	$ 15,516		$ 11,881
Deferred income tax assets	96,224	87,664		20,156
Accumulated deficit	$ (640,909)	$ (592,654)		$ (708,354)
Cumulative effect adjustment
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
Adjusted balance
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid and other current assets			13,784
Deferred income tax assets			19,626
Accumulated deficit			$ (706,981)

REVENUE (Details) - USD ($) $ in Thousands	12 Months Ended
REVENUE (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 909,990	$ 1,106,603	$ 764,865
Contract asset	6,400	6,500
Contract liability	700	600
Revenue recognized from prior period	600	400
Change in estimate of transaction price	300	4,400	700
Other
Disaggregation of Revenue [Line Items]
Revenue	2,035	28,839	18,705
Home
Disaggregation of Revenue [Line Items]
Revenue	320,992	277,935	319,176
Consumer
Disaggregation of Revenue [Line Items]
Revenue	253,198	515,037	395,615
Credit Cards
Disaggregation of Revenue [Line Items]
Revenue	77,361	211,294	165,776
Personal Loans
Disaggregation of Revenue [Line Items]
Revenue	66,513	152,729	134,199
Other Consumer
Disaggregation of Revenue [Line Items]
Revenue	109,324	151,014	95,640
Insurance
Disaggregation of Revenue [Line Items]
Revenue	$ 333,765	$ 284,792	$ 31,369

CASH AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 169,932	$ 60,243
Restricted cash and cash equivalents	117	96
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$ 170,049	$ 60,339	$ 105,158	$ 372,641

PROPERTY AND EQUIPMENT - Schedule of property and equipment, net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total gross property and equipment	$ 82,619	$ 49,342
Accumulated depreciation	(20,238)	(17,979)
Total property and equipment, net	62,381	31,363
Computer equipment and capitalized software
Property, Plant and Equipment [Line Items]
Total gross property and equipment	34,777	28,425
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total gross property and equipment	5,012	7,751
Furniture and other equipment
Property, Plant and Equipment [Line Items]
Total gross property and equipment	3,290	3,993
Aircraft and automobile
Property, Plant and Equipment [Line Items]
Total gross property and equipment	2,621	2,621
Projects in progress
Property, Plant and Equipment [Line Items]
Total gross property and equipment	$ 36,919	$ 6,552

PROPERTY AND EQUIPMENT - Additional information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Unamortized capitalized software development costs	$ 24.8	$ 19.9
Capitalized software development amortization expense	11.1	8.6	$ 6.1
Long-lived assets	$ 0.1	$ 0.1

HOSTING ARRANGEMENTS (Details) $ in Thousands	12 Months Ended
HOSTING ARRANGEMENTS (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Intangible assets with definite lives
Hosting arrangement, amortization expense	$ 200
Prepaid and other current assets
Intangible assets with definite lives
Total gross	1,035
Accumulated amortization	0
Total net	1,035
Prepaid and other current assets \| Capitalized implementation costs
Intangible assets with definite lives
Total gross	530
Prepaid and other current assets \| Projects in progress
Intangible assets with definite lives
Total gross	505
Other noncurrent assets
Intangible assets with definite lives
Total gross	2,190
Accumulated amortization	(185)
Total net	2,005
Other noncurrent assets \| Capitalized implementation costs
Intangible assets with definite lives
Total gross	1,036
Other noncurrent assets \| Projects in progress
Intangible assets with definite lives
Total gross	$ 1,154

GOODWILL AND INTANGIBLE ASSETS - Goodwill and Intangible Assets (Details)			12 Months Ended
	Sep. 30, 2019 segment	Oct. 31, 2018 USD ($) segment	Dec. 31, 2020 USD ($) segment	Dec. 31, 2019 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Jan. 10, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jun. 11, 2018 USD ($)
Goodwill [Line Items]
Goodwill					$ 903,227,000	$ 903,227,000		$ 831,435,000
Accumulated impairment losses					(483,088,000)	(483,088,000)		(483,088,000)
Net Goodwill			$ 420,139,000	$ 348,347,000	420,139,000	420,139,000		$ 348,347,000
Goodwill [Roll Forward]
Net goodwill, beginning balance			420,139,000	348,347,000
Changes in goodwill			0
Net goodwill, ending balance			$ 420,139,000	420,139,000
Intangible Assets
Intangible assets with indefinite lives					10,142,000	10,142,000
Intangible assets with definite lives, net					118,360,000	171,438,000
Total intangible assets, net					128,502,000	$ 181,580,000
Number of reportable segments \| segment	1	1	3
Impairment losses during period related to goodwill			$ 0
Impairment charges related to trade names and trademarks			$ 0
Ovation
Goodwill [Line Items]
Net Goodwill									$ 11,280,000
Goodwill [Roll Forward]
Acquisition of business				20,000
QuoteWizard
Goodwill [Line Items]
Net Goodwill		$ 182,896,000
Goodwill [Roll Forward]
Acquisition of business				33,000
Net goodwill, ending balance		$ 182,896,000
ValuePenguin
Goodwill [Line Items]
Net Goodwill							$ 71,739,000
Goodwill [Roll Forward]
Acquisition of business				$ 71,739,000
Home
Goodwill [Line Items]
Goodwill					59,300,000
Consumer
Goodwill [Line Items]
Goodwill					166,100,000
Insurance
Goodwill [Line Items]
Goodwill					$ 194,700,000

GOODWILL AND INTANGIBLE ASSETS - Definite Lived Intangibles (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Intangible assets with definite lives
Cost	$ 225,400	$ 261,705
Accumulated Amortization	(107,040)	(90,267)
Net	118,360	171,438
Technology
Intangible assets with definite lives
Cost	87,700	116,200
Accumulated Amortization	(48,166)	(48,938)
Net	$ 39,534	$ 67,262
Technology \| Weighted Average
Intangible assets with definite lives
Weighted Average Amortization Life	4 years 3 months 18 days	4 years 2 months 12 days
Customer lists
Intangible assets with definite lives
Cost	$ 77,300	$ 77,300
Accumulated Amortization	(18,560)	(12,452)
Net	$ 58,740	$ 64,848
Customer lists \| Weighted Average
Intangible assets with definite lives
Weighted Average Amortization Life	13 years 2 months 12 days	13 years 2 months 12 days
Trademarks and trade names
Intangible assets with definite lives
Cost	$ 17,200	$ 17,200
Accumulated Amortization	(9,947)	(6,407)
Net	$ 7,253	$ 10,793
Trademarks and trade names \| Weighted Average
Intangible assets with definite lives
Weighted Average Amortization Life	4 years 10 months 24 days	4 years 10 months 24 days
Website content
Intangible assets with definite lives
Cost	$ 43,200	$ 51,000
Accumulated Amortization	(30,367)	(22,467)
Net	$ 12,833	$ 28,533
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
Accumulated Amortization		(3)
Net		$ 2
Other \| Weighted Average
Intangible assets with definite lives
Weighted Average Amortization Life		3 years

GOODWILL AND INTANGIBLE ASSETS - Definite Lived Intangibles Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Amortization of intangible assets with definite lives computed on a straight-line basis
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
Year ending December 31, 2025	6,259
Thereafter	28,758
Net	$ 118,360	$ 171,438

EQUITY INVESTMENT (Details) - USD ($) $ in Millions	Dec. 31, 2020	Feb. 28, 2020
Stash Financial, Inc.
Schedule of Equity Method Investments [Line Items]
Equity method investment	$ 80.0	$ 80.0

BUSINESS ACQUISITIONS - Additional information (Details)						3 Months Ended		6 Months Ended	12 Months Ended
	Sep. 30, 2019 segment	Jan. 10, 2019 USD ($)	Oct. 31, 2018 USD ($) segment payment	Jul. 23, 2018 USD ($)	Jun. 11, 2018 USD ($) payment	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Jun. 30, 2019 USD ($)	Dec. 31, 2020 USD ($) segment	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Business Acquisition [Line Items]
Contingent consideration payment, financing									$ 4,755,000	$ 21,275,000	$ 27,588,000
Contingent consideration payment, total									25,787,000	12,500,000	21,912,000
Goodwill						$ 420,139,000	$ 420,139,000		$ 420,139,000	420,139,000	348,347,000
Number of reportable segments \| segment	1		1						3
Acquisition related costs										600,000	6,900,000
Change in fair value of contingent consideration									$ 5,327,000	28,402,000	10,788,000
Contingent consideration arrangements, after tax contingent consideration expense										21,500,000	7,200,000
Current contingent consideration						0	9,028,000		0	9,028,000
SnapCap
Business Acquisition [Line Items]
Contingent consideration payment, financing									3,300,000	3,000,000.0
Contingent consideration payment, total									6,000,000.0
Contingent consideration payment, operating									2,700,000
Acquisition purchase consideration									0	0	10,000
Change in fair value of contingent consideration									77,000	2,220,000	(330,000)
DepositAccounts
Business Acquisition [Line Items]
Contingent consideration payment, financing											4,000,000.0
Contingent consideration payment, total									0
Contingent consideration payment, operating										3,000,000.0
Change in fair value of contingent consideration									0	(947,000)	1,979,000
ValuePenguin
Business Acquisition [Line Items]
Acquisition purchase consideration		$ 106,100,000
Total purchase price		106,232,000
Working capital adjustment		100,000
Goodwill		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]
Contingent consideration payment, financing							13,900,000
Contingent consideration payment, total							23,400,000
Contingent consideration payment, operating						20,200,000	9,500,000
Acquisition purchase consideration			$ 299,900,000
Total purchase price			313,355,000
Working capital adjustment			400,000
Goodwill			182,896,000
Acquisition related costs											4,800,000	$ 5,900,000
Cash on hand			$ 174,900,000
Number of payments \| payment			3
Contingent consideration on acquisition date			$ 13,900,000			8,200,000			8,200,000
Change in fair value of contingent consideration									3,980,000	27,103,000	6,833,000
Contingent consideration arrangements, after tax contingent consideration expense											4,900,000
Student Loan Hero
Business Acquisition [Line Items]
Acquisition purchase consideration				$ 60,700,000
Total purchase price				60,418,000
Working capital adjustment				2,000,000.0
Goodwill				40,856,000
Acquisition related costs											500,000
Severance costs				$ 2,300,000
Ovation
Business Acquisition [Line Items]
Contingent consideration payment, financing						1,400,000	$ 4,400,000
Contingent consideration payment, total						4,400,000
Contingent consideration payment, operating						$ 3,000,000.0
Acquisition purchase consideration					$ 12,200,000
Total purchase price					17,871,000
Working capital adjustment					100,000
Goodwill					$ 11,280,000
Acquisition related costs											400,000
Number of payments \| payment					2
Contingent consideration on acquisition date					$ 5,800,000
Change in fair value of contingent consideration									$ 1,270,000	$ 26,000	$ 1,654,000
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
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

BUSINESS ACQUISITION (Details - Changes in Contingent Consideration) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Change in fair value of contingent consideration	$ 5,327	$ 28,402	$ 10,788
QuoteWizard
Business Acquisition [Line Items]
Change in fair value of contingent consideration	3,980	27,103	6,833
Ovation
Business Acquisition [Line Items]
Change in fair value of contingent consideration	1,270	26	1,654
SnapCap
Business Acquisition [Line Items]
Change in fair value of contingent consideration	77	2,220	(330)
DepositAccounts
Business Acquisition [Line Items]
Change in fair value of contingent consideration	0	(947)	1,979
CompareCards
Business Acquisition [Line Items]
Change in fair value of contingent consideration	$ 0	$ 0	$ 652

BUSINESS ACQUISITIONS (Details - Schedule of Purchase Price Allocation) - USD ($) $ in Thousands	Jan. 10, 2019	Oct. 31, 2018	Jul. 23, 2018	Jun. 11, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill					$ 420,139	$ 420,139	$ 348,347
ValuePenguin
Business Acquisition [Line Items]
Net working capital	$ 2,502
Fixed assets	68
Intangible assets	31,600
Goodwill	71,739
Other noncurrent assets	323
Total purchase price	$ 106,232
QuoteWizard
Business Acquisition [Line Items]
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
Student Loan Hero
Business Acquisition [Line Items]
Net working capital			$ 5,429
Intangible assets			19,600
Goodwill			40,856
Deferred tax liabilities			(5,467)
Total purchase price			$ 60,418
Ovation
Business Acquisition [Line Items]
Net working capital				$ 303
Fixed assets				76
Intangible assets				8,900
Goodwill				11,280
Deferred tax liabilities				(2,688)
Total purchase price				$ 17,871

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
ValuePenguin
Business Acquisition [Line Items]
Fair Value	$ 31,600
Weighted Average Amortization Life	3 years 1 month 6 days
QuoteWizard
Business Acquisition [Line Items]
Fair Value		$ 120,400
Weighted Average Amortization Life		7 years 10 months 24 days
Student Loan Hero
Business Acquisition [Line Items]
Fair Value			$ 19,600
Weighted Average Amortization Life			4 years
Ovation
Business Acquisition [Line Items]
Fair Value				$ 8,900
Weighted Average Amortization Life				5 years 4 months 24 days
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
Customer lists \| QuoteWizard
Business Acquisition [Line Items]
Fair Value		$ 42,700
Weighted Average Amortization Life		14 years 8 months 12 days
Customer lists \| Student Loan Hero
Business Acquisition [Line Items]
Fair Value			$ 2,500
Weighted Average Amortization Life			10 years
Customer lists \| Ovation
Business Acquisition [Line Items]
Fair Value				$ 1,900
Weighted Average Amortization Life				1 year
Website content \| ValuePenguin
Business Acquisition [Line Items]
Fair Value	$ 26,100
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 \| Student Loan Hero
Business Acquisition [Line Items]
Fair Value			$ 16,100
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 \| QuoteWizard
Business Acquisition [Line Items]
Fair Value		$ 7,800
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 \| Ovation
Business Acquisition [Line Items]
Fair Value				$ 1,000
Weighted Average Amortization Life				4 years

BUSINESS ACQUISITIONS (Details - Pro Forma Information) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma revenue	$ 1,107,118	$ 934,209
Pro forma net income from continuing operations	$ 39,173	104,153
QuoteWizard
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma revenue		900,978
Pro forma net income from continuing operations		$ 110,015

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accrued expenses and other current liabilities
Accrued advertising expense	$ 54,045	$ 65,836
Accrued compensation and benefits	14,081	10,540
Accrued professional fees	1,869	1,560
Customer deposits and escrows	8,153	6,920
Contribution to LendingTree Foundation	3,333	3,333
Current lease liabilities	5,375	6,885
Other	14,340	17,681
Total accrued expenses and other current liabilities	$ 101,196	$ 112,755
Current lease liability, statement of financial position	us-gaap:AccruedLiabilitiesCurrent	us-gaap:AccruedLiabilitiesCurrent

LEASES (Details) $ in Thousands	12 Months Ended
LEASES (Details) $ in Thousands	Dec. 31, 2020 USD ($) renewalOption	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jun. 30, 2020 USD ($)
Lessee, Lease, Description [Line Items]
Number of renewal options \| renewalOption	1
Operating lease right-of-use assets	$ 84,109	$ 25,519
Operating lease, liability	97,738	28,200
Operating lease cost	11,226	6,346
Short-term lease cost	59	86
Total lease cost	$ 11,285	$ 6,432
Weighted average remaining lease term	13 years	5 years
Weighted average discount rate	5.00%	4.70%
Operating cash flows from operating leases	$ 2,359	$ 6,779
Right-of-use assets obtained in exchange for new operating lease liabilities	66,881	21,969
2021	9,147
2022	12,823
2023	12,617
2024	10,973
2025	9,336
Thereafter	96,062
Total lease payments	150,958
Less: Interest	44,959
Less: Tenant improvement allowances	8,261
Present value of lease liabilities	$ 97,738	28,200
Rental expense			$ 3,400
Rental income		$ 300	$ 900
Principal Executive Offices
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets				$ 65,700
Operating lease, liability				65,700
Present value of lease liabilities				$ 65,700
Minimum
Lessee, Lease, Description [Line Items]
Renewal term	2 years
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	5 years

SHAREHOLDERS' EQUITY (Details) - USD ($)	12 Months Ended
SHAREHOLDERS' EQUITY (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jul. 24, 2020	Feb. 20, 2019	Feb. 21, 2018
Weighted average shares outstanding:
Weighted average basic common shares (in shares)	13,007,000	12,834,000	12,504,000
Effect of stock options (in shares)	0	747,000	1,043,000
Effect of dilutive share awards (in shares)	0	167,000	153,000
Effect of Convertible Senior Notes and warrants (in shares)	0	871,000	397,000
Weighted average diluted common shares (in shares)	13,007,000	14,619,000	14,097,000
Additional disclosure
Anti-dilutive securities excluded from calculation of diluted earnings per share	1,100,000
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
Value of treasury stock acquired		$ 5,470,000	$ 92,606,000
Remaining authorized repurchase amount	$ 179,700,000
2025 Convertible Notes
Additional disclosure
Interest rate	0.50%			0.50%
Stock Options
Additional disclosure
Anti-dilutive securities excluded from calculation of diluted earnings per share	200,000	100,000	400,000

STOCK-BASED COMPENSATION - Plan Information and P&L Impact (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) plan shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
STOCK-BASED COMPENSATION
Number of active plans \| plan	2
Term of plan	10 years
Income tax benefit related to non-cash compensation \| $	$ 11.4	$ 12.2	$ 11.2
Excess tax benefit \| $	$ 2.5	$ 17.1	$ 77.6
Equity Award Plan
STOCK-BASED COMPENSATION
Number of shares authorized \| shares	6,100,000
Inducement Plan
STOCK-BASED COMPENSATION
Number of shares authorized \| shares	500,000

STOCK-BASED COMPENSATION - Schedule of non-cash compensation expense related to equity awards (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	$ 53,733	$ 52,167	$ 44,365
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	1,319	755	378
Selling and marketing expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	6,240	5,785	3,568
General and administrative expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	39,650	39,177	34,325
Product development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash compensation	$ 6,524	$ 6,450	$ 6,094

STOCK-BASED COMPENSATION - Schedules - Stock Options (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Aggregate Intrinsic Value
Share price (in dollars per share)	$ 273.79
Stock Options
Number of Options
Outstanding at the beginning of the period (in shares)	777,871
Granted (in shares)	203,582
Exercised (in shares)	(47,630)
Forfeited (in shares)	(5,396)
Expired (in shares)	(3,717)
Outstanding at the end of the period (in shares)	924,710	777,871
Options exercisable at the end of the period (in shares)	663,239
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 69.87
Granted (in dollars per share)	290.27
Exercised (in dollars per share)	161.25
Forfeited (in dollars per share)	285.56
Expired (in dollars per share)	221.99
Outstanding at the end of the period (in dollars per share)	111.82	$ 69.87
Options exercisable at the end of the period (in dollars per share)	$ 44.49
Weighted Average Remaining Contractual Term
Outstanding at the end of the period	4 years 5 months 19 days
Options exercisable at the end of the period	2 years 7 months 17 days
Aggregate Intrinsic Value
Outstanding at the end of the period	$ 155,411,000
Options exercisable at the end of the period	$ 153,243,000
Weighted average assumptions
Dividend yield	0.00%	0.00%	0.00%
Expected volatility, minimum	52.00%	51.00%	50.00%
Expected volatility, maximum	60.00%	55.00%	53.00%
Risk-free interest rate, minimum	0.33%	1.46%	2.33%
Risk-free interest rate, maximum	0.96%	2.55%	3.06%
Performance Options
Number of Options
Outstanding at the beginning of the period (in shares)	463,440
Granted (in shares)	236,769
Exercised (in shares)	0
Forfeited (in shares)	0
Expired (in shares)	0
Outstanding at the end of the period (in shares)	700,209	463,440
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)	$ 204.31
Granted (in dollars per share)	298.05
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)	236.01	$ 204.31
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 9 months
Options exercisable at the end of the period	0 years
Aggregate Intrinsic Value
Outstanding at the end of the period	$ 36,238,000
Options exercisable at the end of the period	$ 0
Weighted average assumptions
Expected term	7 years	7 years
Dividend yield	0.00%	0.00%	0.00%
Expected volatility, minimum	51.00%	51.00%	50.00%
Expected volatility, maximum	51.00%	51.00%	50.00%
Risk-free interest rate, minimum	1.03%	2.54%	2.38%
Risk-free interest rate, maximum	1.03%	2.54%	2.81%
Dividends	$ 0	$ 0	$ 0
Minimum \| Stock Options
Weighted average assumptions
Expected term	5 years	5 years	5 years
Minimum \| Performance Options
Weighted average assumptions
Expected term			7 years
Maximum \| Stock Options
Weighted average assumptions
Expected term	6 years 3 months	6 years 3 months	6 years 8 months 15 days
Maximum \| Performance Options
Weighted average assumptions
Expected term			7 years 1 month 24 days

STOCK-BASED COMPENSATION - Narrative - Stock Options (Details) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
STOCK-BASED COMPENSATION
Proceeds from stock options exercised		$ 7,700,000
Exercise of option, tax benefit		$ 700,000
Weighted average fair value (in dollars per share)		$ 116.08	$ 167.10	$ 150.55
Fair value of options vested		$ 5,800,000	$ 6,900,000	$ 11,400,000
Performance measurement period two \| Minimum
STOCK-BASED COMPENSATION
Return performance, percent of target stock price				41.00%
Stock Options
STOCK-BASED COMPENSATION
Unrecognized compensation cost	$ 25,500,000	$ 25,500,000
Weighted-average period for recognition of unrecognized compensation cost		4 years
Intrinsic value of stock options exercised		$ 6,800,000	$ 50,200,000	$ 268,300,000
Granted (in dollars per share)		$ 290.27
Dividend yield		0.00%	0.00%	0.00%
Stock Options \| Chairman and Chief Executive Officer
STOCK-BASED COMPENSATION
Granted (in dollars per share)	$ 300
Exercise price premium	25.00%
Post-exercise holding requirement period	2 years
Expected term	6 years 10 months 24 days
Dividend yield	0.00%
Expected volatility rate	52.00%
Risk free rate	0.92%
Discount rate	8.80%
Stock Options \| Minimum
STOCK-BASED COMPENSATION
Expected term		5 years	5 years	5 years
Stock Options \| Maximum
STOCK-BASED COMPENSATION
Expected term		6 years 3 months	6 years 3 months	6 years 8 months 15 days
Stock Options \| One year from the grant date
STOCK-BASED COMPENSATION
Vesting period		1 year
Stock Options \| Two years from the grant date
STOCK-BASED COMPENSATION
Vesting period		2 years
Vesting percentage		50.00%
Stock Options \| Three years from the grant date
STOCK-BASED COMPENSATION
Vesting period		3 years
Vesting percentage		33.00%
Stock Options \| Four years from the grant date
STOCK-BASED COMPENSATION
Vesting period		4 years
Vesting percentage		25.00%
Stock Options \| Six years from the grant date
STOCK-BASED COMPENSATION
Vesting period		6 years
Performance Options
STOCK-BASED COMPENSATION
Unrecognized compensation cost	$ 58,200,000	$ 58,200,000
Weighted-average period for recognition of unrecognized compensation cost		2 years 9 months 18 days
Weighted average fair value (in dollars per share)		$ 142.54	$ 230.81	$ 296.80
Granted (in dollars per share)		$ 298.05
Expected term		7 years	7 years
Dividend yield		0.00%	0.00%	0.00%
Dividends		$ 0	$ 0	$ 0
Return performance, percent of target stock price			81.00%
Maximum number of shares for earned (in shares)			27,132
Performance awards earned (in shares)	481,669	481,669
Performance Options \| Chairman and Chief Executive Officer
STOCK-BASED COMPENSATION
Granted (in dollars per share)	$ 300
Exercise price premium	25.00%
Post-exercise holding requirement period	2 years
Expected term	7 years 6 months 14 days
Dividend yield	0.00%
Expected volatility rate	52.00%
Risk free rate	0.92%
Discount rate	8.80%
Performance Options \| Minimum
STOCK-BASED COMPENSATION
Expected term				7 years
Return performance, percent of target stock price			41.00%
Performance Options \| Maximum
STOCK-BASED COMPENSATION
Expected term				7 years 1 month 24 days
Performance Options \| Performance measurement period one
STOCK-BASED COMPENSATION
Return performance, percent of target stock price	81.00%	81.00%		110.00%
Maximum number of shares for earned (in shares)	31,940	31,940		52,332
Performance Options \| Performance measurement period one \| Minimum
STOCK-BASED COMPENSATION
Return performance, percent of target stock price	41.00%	41.00%		70.00%
Performance Options \| Performance measurement period two
STOCK-BASED COMPENSATION
Return performance, percent of target stock price	135.00%	135.00%		81.00%
Maximum number of shares for earned (in shares)	363,464	363,464		21,982
Performance Options \| Performance measurement period two \| Minimum
STOCK-BASED COMPENSATION
Return performance, percent of target stock price	81.00%	81.00%

STOCK-BASED COMPENSATION - RSU and RSA Activity (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jul. 31, 2017
RSUs
Nonvested RSUs and RSAs, Number of Shares
Nonvested at the beginning of the period (in shares)		144,939
Granted (in shares)		138,418
Vested (in shares)		(70,698)
Forfeited (in shares)		(17,973)
Nonvested at the end of the period (in shares)		194,686	144,939
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)		$ 267.85
Granted (in dollars per share)		286.42
Vested (in dollars per share)		239.15
Forfeited (in dollars per share)		285.95
Nonvested at the end of the period (in dollars per share)		$ 289.82	$ 267.85
Unrecognized compensation cost		$ 35.2
Weighted-average period for recognition of unrecognized compensation cost		1 year 8 months 12 days
Vested fair value		$ 22.4	$ 27.2	$ 21.8
Performance Shares
Nonvested RSUs and RSAs, Number of Shares
Nonvested at the beginning of the period (in shares)		14,647
Granted (in shares)		0	0
Vested (in shares)		(8,319)
Forfeited (in shares)		0
Nonvested at the end of the period (in shares)		6,328	14,647
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share)		$ 210.55
Granted (in dollars per share)		0
Vested (in dollars per share)		200.40
Forfeited (in dollars per share)		0
Nonvested at the end of the period (in dollars per share)		$ 223.90	$ 210.55
Unrecognized compensation cost		$ 1.1
Weighted-average period for recognition of unrecognized compensation cost		9 months 18 days
Vested fair value		$ 2.6	$ 18.8	7.9
Performance-Based Restricted Stock
Nonvested RSUs and RSAs, Number of Shares
Nonvested at the beginning of the period (in shares)		47,608
Granted (in shares)		0	0
Vested (in shares)		(23,804)
Forfeited (in shares)		0
Nonvested at the end of the period (in shares)		23,804	47,608
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		$ 4.4
Weighted-average period for recognition of unrecognized compensation cost		1 year
Vested fair value		$ 6.2	$ 8.2	13.6
Grant date fair value					$ 21.9
Expiration period	6 months
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
Nonvested at the end of the period (in dollars per share)		$ 340.25	$ 340.25
Unrecognized compensation cost		$ 0.7
Weighted-average period for recognition of unrecognized compensation cost		1 year 9 months 18 days
Grant date fair value				$ 1.9
Return performance, percent of target stock price				110.00%
Maximum number of shares for earned (in shares)				44,545
Performance awards earned (in shares)		29,601
Minimum \| Performance Shares
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Vesting period		6 months
Minimum \| Market-Based Restricted Stock
Nonvested RSUs and RSAs, Weighted Average Grant Date Fair Value
Return performance, percent of target stock price				70.00%

INCOME TAXES (Details - Income Tax Provision Components) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current income tax (benefit) expense:
Federal	$ (10,705)	$ 201	$ (1,470)
State	372	(125)	(204)
Current income tax (benefit) expense	(10,333)	76	(1,674)
Deferred income tax (benefit) provision:
Federal	(7,495)	(10,857)	(44,950)
State	(2,133)	2,302	(18,951)
Deferred income tax benefit	(9,628)	(8,555)	(63,901)
Income tax benefit	$ (19,961)	$ (8,479)	$ (65,575)

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Federal statutory income tax		$ (8,931)	$ 6,506	$ 9,186
State income taxes, net		(3,551)	(1,832)	(14,884)
Excess tax deductions on non-cash compensation		(2,033)	(13,971)	(59,601)
Impact of the Coronavirus Aid, Relief, and Economic Security Act		(6,104)	0	0
Research and experimentation tax credit		(3,800)	(5,794)	(2,523)
Impact of certain state legislation, net		0	3,932	0
Nondeductible executive compensation		1,778	988	163
Change in (release of) valuation allowance		2,100	954	(12)
Uncertain tax positions		458	922	289
Nondeductible meals & entertainment		99	428	310
Impact of Tax Cuts and Jobs Act		0	0	270
Other, net		23	(612)	1,227
Income tax benefit		$ (19,961)	$ (8,479)	(65,575)
Provisional estimate for remeasurement of deferred tax assets and liabilities from Tax Cuts and Jobs Act	$ 9,100			$ 9,100

INCOME TAXES (Details - Deferred Income Taxes - Components) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Provision for accrued expenses	$ 4,907	$ 12,234
Leasing	24,864	7,299
Net operating loss carryforwards	56,190	56,450
Non-cash compensation expense	20,746	15,805
Intangible assets	12,684	4,182
Interest limitation	4,059	987
Contingent liabilities	4,507	9,366
Tax credits	13,656	6,124
Other	3,605	446
Total gross deferred tax assets	145,218	112,893
Less: valuation allowance	(5,802)	(4,102)	$ (2,229)	$ (2,694)
Total deferred tax assets, net of the valuation allowance	139,416	108,791
Deferred tax liabilities:
Leasing	(21,632)	(6,596)
Property and equipment	(5,015)	(4,748)
Other	(653)	(1,835)
Total gross deferred tax liabilities	(27,300)	(13,179)
Net deferred taxes	112,116	$ 95,612
Federal
Deferred tax liabilities:
Operating loss carryforwards	179,500
State
Deferred tax liabilities:
State operating loss carryforwards	$ 519,500

INCOME TAXES (Details - Deferred Income Taxes - BS Presentation) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Deferred income tax assets	$ 96,224	$ 87,664
Non-current assets of discontinued operations	15,892	7,948
Net deferred taxes	$ 112,116	$ 95,612

INCOME TAXES (Details - Valuation Allowance) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Operating loss carryforwards, valuation allowance	$ 5,800	$ 4,100	$ 2,200
Valuation Allowance [Abstract]
Balance, beginning of the period	4,102	2,229	2,694
Charges to earnings	1,700	1,873	(465)
Balance, end of the period	$ 5,802	$ 4,102	$ 2,229

INCOME TAXES (Details - Unrecognized Tax Benefits) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of unrecognized tax benefits, excluding interest
Balance, beginning of the period	$ 1,996	$ 1,127
Additions based on tax positions of the current period	570	525
Additions based on tax positions of the prior period	47	344
Balance, end of the period	2,613	1,996
Unrecognized tax benefits including interest	$ 2,600	$ 2,100

DEBT (Convertible Senior Notes) (Details)			3 Months Ended	12 Months Ended
DEBT (Convertible Senior Notes) (Details)	Jul. 24, 2020 USD ($) day $ / shares Rate shares	May 31, 2017 USD ($) segment day $ / shares Rate shares	Sep. 30, 2020 USD ($)	Dec. 31, 2020 USD ($) Rate	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Repayments of convertible debt				$ 233,862,000	$ 0	$ 0
Amortization of convertible debt discount				19,570,000	12,016,000	11,397,000
Amortization of debt issuance costs				3,474,000	1,974,000	1,776,000
Debt Issuance Costs, Net [Abstract]
Net carrying amount				$ 611,412,000	264,391,000
2025 Convertible Notes
Debt Instrument [Line Items]
Interest rate	0.50%			0.50%
Conversion rate, number of shares per $1,000 of principal \| shares	2.1683
Conversion price (in dollars per share) \| $ / shares	$ 461.19
Threshold percentage of stock price trigger \| Rate	130.00%			130.00%
Redemption percentage \| Rate	100.00%
Nonconvertible debt borrowing rate at the date of issuance \| Rate	5.30%
Convertible debt, noncurrent	$ 455,600,000
Carrying amount of debt, equity component	119,400,000
Debt issuance costs, gross	15,100,000
Debt issuance costs, liability component	12,000,000.0			$ 11,056,000
Debt issuance costs, equity component	$ 3,100,000
Interest expense				11,500,000
Interest expense, excluding amortization				$ 1,300,000
Interest rate	0.50%			0.50%
Amortization of convertible debt discount				$ 9,300,000
Amortization of debt issuance costs				900,000
Debt Issuance Costs, Net [Abstract]
Gross carrying amount				575,000,000
Unamortized debt discount				110,110,000
Debt issuance costs	$ 12,000,000.0			11,056,000
Net carrying amount				453,834,000
2025 Convertible Notes \| Conversion option one
Debt Instrument [Line Items]
Threshold trading days \| day	20
Threshold consecutive trading days \| day	30
Threshold percentage of stock price trigger \| Rate	130.00%
2025 Convertible Notes \| Conversion option two
Debt Instrument [Line Items]
Threshold trading days \| day	5
Threshold consecutive trading days \| day	5
Threshold percentage of stock price trigger \| Rate	98.00%
2025 Convertible Notes \| Convertible Debt
Debt Instrument [Line Items]
Aggregate principal amount	$ 575,000,000.0
Interest rate \| Rate	0.50%
Long-term debt, fair value				$ 564,100,000
2025 Notes Under 13-day Purchase Option \| Convertible Debt
Debt Instrument [Line Items]
Aggregate principal amount	$ 75,000,000.0
2022 Convertible Notes
Debt Instrument [Line Items]
Aggregate principal amount		$ 300,000,000.0
Interest 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		130.00%
Redemption percentage		100.00%
Nonconvertible debt borrowing rate at the date of issuance		5.36%
Convertible debt, noncurrent		$ 238,400,000
Carrying amount of debt, equity component		61,600,000
Debt issuance costs, gross		9,300,000
Debt issuance costs, liability component		7,400,000		$ 1,297,000	3,811,000
Debt issuance costs, equity component		1,900,000
Repayments of convertible debt	234,000,000.0
Repurchased face amount	130,300,000
Repurchased amount, accrued interest	100,000
Extinguishment of debt	126,000,000.0
Repurchase of convertible debt, reduction to additional paid-in capital	$ 107,900,000			(107,882,000)
Loss on extinguishment of debt			$ 7,800,000
Interest expense				13,000,000.0	15,300,000	14,600,000
Interest expense, excluding amortization				$ 1,500,000	$ 1,900,000	$ 1,900,000
Interest rate				0.625%	0.625%	0.625%
Amortization of convertible debt discount				$ 10,300,000	$ 12,000,000.0	$ 11,400,000
Amortization of debt issuance costs				1,200,000	1,400,000	$ 1,300,000
Long-term debt, fair value				243,800,000
Debt Issuance Costs, Net [Abstract]
Gross carrying amount				169,690,000	299,991,000
Unamortized debt discount				10,815,000	31,789,000
Debt issuance costs		$ 7,400,000		1,297,000	3,811,000
Net carrying amount				$ 157,578,000	$ 264,391,000
2022 Convertible Notes \| Conversion option one
Debt Instrument [Line Items]
Threshold trading days \| day		20
Threshold consecutive trading days \| segment		30
Threshold percentage of stock price trigger		130.00%
2022 Convertible Notes \| Conversion option two
Debt Instrument [Line Items]
Threshold trading days \| day		5
Threshold percentage of stock price trigger		98.00%

DEBT (Convertible Note Hedge and Warrant Transactions) (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions			12 Months Ended
	Jul. 24, 2020	May 31, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jul. 21, 2020	May 24, 2017
Debt Instrument [Line Items]
Payment of convertible note hedge transactions			$ 124,200	$ 0	$ 0
Share price (in dollars per share)			$ 273.79
Proceeds from issuance of warrants			$ 61,180	0	0
Proceeds from hedge and warrant terminations			109,881	0	0
Payments for repurchase of warrants			$ 94,292	$ 0	$ 0
2020 Warrants
Debt Instrument [Line Items]
Net proceeds from the convertible notes used to pay for the cost of the convertible note hedge	$ 63,000
Payment of convertible note hedge transactions	$ 124,200
Number of shares covered by the hedge transactions	1.2
Conversion price (in dollars per share)	$ 461.19
Exercise price (in dollars per share)	$ 709.52
Premium of warrant strike price over sales price of common stock	100.00%
Share price (in dollars per share)						$ 354.76
Proceeds from issuance of warrants	$ 61,200
2017 Warrants
Debt Instrument [Line Items]
Net proceeds from the convertible notes used to pay for the cost of the convertible note hedge		$ 18,100
Payment of convertible note hedge transactions		$ 61,500
Number of shares covered by the hedge transactions	0.8	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)							$ 156.70
Proceeds from issuance of warrants		$ 43,400
Net proceeds from hedge and warrants	$ 15,600

DEBT (Senior Secured Revolving Credit Facility) (Details)				3 Months Ended	12 Months Ended
	Jul. 21, 2020 USD ($)	Dec. 10, 2019 USD ($)	Oct. 26, 2018 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Line of Credit Facility [Line Items]
Revolving credit facility				$ 75,000,000	$ 0	$ 75,000,000
Interest rate				3.01%		3.01%
Credit Agreement, potential additional borrowing capacity		$ 185,000,000.0
Credit Agreement, ratio of debt to EBITDA		2.50
Letters of credit outstanding				$ 200,000	200,000	$ 200,000
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					0	333,000	$ 0
Amortization of debt issuance costs					3,474,000	1,974,000	1,776,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 500,000,000.0	$ 350,000,000.0
Revolving credit facility, term		5 years	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				300,000
Revolving credit facility, debt issuance costs	$ 1,100,000	$ 2,800,000
Interest expense					4,300,000	6,100,000
Unused borrowing capacity fee					1,700,000	600,000	800,000
Amortization of debt issuance costs					1,300,000	600,000	400,000
Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Current borrowing capacity	$ 200,000,000.0
Floor interest rate	0.75%
Revolving credit facility, unused capacity, commitment fee percentage	0.50%
Swingline Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		10,000,000.0
Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 10,000,000.0
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					$ 1,300,000	4,900,000	800,000
LIBOR \| Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	2.25%
ABR \| Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate	1.25%
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 \| LIBOR \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate		1.25%
Minimum \| ABR \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate		0.25%
Maximum
Line of Credit Facility [Line Items]
Ratio of debt to EBITDA		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 \| LIBOR \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate		2.00%
Maximum \| ABR \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, basis spread on variable rate		1.00%
31 Day Borrowing, first \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility				50,000,000.0		50,000,000.0
31 Day Borrowing, second \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility				$ 25,000,000.0		$ 25,000,000.0
Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest expense							$ 2,000,000.0

COMMITMENTS (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Minimum
Commitment
Other Commitment	$ 200
Maximum
Commitment
Other Commitment	5,200
Surety bond
Commitment
Total Amounts Committed	5,077
Less Than 1 year	4,952
1-3 years	125
3-5 years	0
More Than 5 years	$ 0

CONTINGENCIES (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Contingencies
Accrued litigation liabilities	$ 0.1	$ 0.2
Disposed of by sale
Contingencies
Accrued litigation liabilities	$ 0.5	$ 31.0

FAIR VALUE MEASUREMENT - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 33,464,000	$ 38,837,000	$ 57,349,000
Change in fair value of contingent consideration	5,327,000	28,402,000	10,788,000
Additions	0	0	19,700,000
Payments	(30,542,000)	(33,775,000)	(49,000,000)
Ending balance	8,249,000	$ 33,464,000	$ 38,837,000
Minimum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration on acquisition date	0
Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration on acquisition date	$ 23,400,000

FAIR VALUE MEASUREMENTS - Schedule of fair value measurement valuation (Details) - Level 3 $ in Thousands	Dec. 31, 2020 USD ($)
Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration on acquisition date	$ 8,249
Option pricing model \| Weighted Average \| Operating results growth rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, measurement input	0.048
Option pricing model \| Weighted Average \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, measurement input	0.068

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2020	Dec. 31, 2019
Related Party Transactions [Abstract]
Expenses incurred for related parties	$ 700
Charitable contribution		$ 10,000
Contribution to LendingTree Foundation			$ 3,333	$ 3,333

BENEFIT PLANS (Details) - USD ($)	12 Months Ended
BENEFIT PLANS (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
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	$ 19,500	$ 19,000	$ 18,500
Matching contribution per participant dollar contributed	$ 0.50
Maximum contribution by employer (as a percent)	6.00%
Matching contribution made by the entity	$ 2,400,000	$ 2,000,000.0	$ 1,400,000
Service period one
Defined Contribution Plan Disclosure [Line Items]
Requisite service period for matching contribution	1 year
Employer matching contribution, vested percent	33.00%
Service period two
Defined Contribution Plan Disclosure [Line Items]
Requisite service period for matching contribution	2 years
Employer matching contribution, vested percent	66.00%
Service period three and after
Defined Contribution Plan Disclosure [Line Items]
Requisite service period for matching contribution	3 years
Employer matching contribution, vested percent	100.00%

DISCONTINUED OPERATIONS (Details)					1 Months Ended			3 Months Ended			12 Months Ended
DISCONTINUED OPERATIONS (Details)	Jun. 17, 2020 USD ($)	Jun. 11, 2020 USD ($)	Dec. 04, 2019 USD ($)	Jun. 21, 2019 USD ($)	Feb. 29, 2016 defendant	Jan. 31, 2016 USD ($)	Dec. 31, 2013 USD ($) network_lender claim	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($) loan	Jul. 24, 2020 Rate	Jul. 21, 2019 USD ($)	May 31, 2017 Rate	Jun. 06, 2012 USD ($)
DISCONTINUED OPERATIONS
Assets								$ 1,188,990,000			$ 1,188,990,000	$ 947,969,000
Damages sought							$ 61,000,000.0
2022 Convertible Notes
DISCONTINUED OPERATIONS
Interest rate								0.625%			0.625%					0.625%
2025 Convertible Notes
DISCONTINUED OPERATIONS
Interest rate								0.50%			0.50%			0.50%
Discover Bank \| Lending Tree Loans
DISCONTINUED OPERATIONS
Asset purchase agreement, proceeds from sale																	$ 55,900,000
Disposed of by means other than sale \| Home Loan Center, Inc.
DISCONTINUED OPERATIONS
Loss from discontinued operations												5,500,000
Gain on disposal											$ 0	4,515,000	$ 0
Recognition of a liability												$ 10,000,000.0
Disposed of by means other than sale \| Loan loss obligations \| Lending Tree Loans
DISCONTINUED OPERATIONS
Settlement payment									$ 36,000,000.0
Home Loan Center, Inc.
DISCONTINUED OPERATIONS
Assets															$ 11,200,000
Cash															$ 5,900,000
Dividends						$ 40,000,000.0
Pending Litigation \| Disposed of by means other than sale \| Loan loss obligations \| Discontinued operations \| Lending Tree Loans
DISCONTINUED OPERATIONS
Amount awarded to other party										$ 36,000,000.0
Residential Funding Co. v Home Loan Center \| Pending Litigation
DISCONTINUED OPERATIONS
Number of loan originators \| network_lender							80
Number of pending claims \| claim							2
Residential Funding Co. v Home Loan Center \| Judicial Ruling
DISCONTINUED OPERATIONS
Amount awarded to other party				$ 68,500,000
Residential Funding Co. v Home Loan Center \| Judicial Ruling \| Damages
DISCONTINUED OPERATIONS
Amount awarded to other party				28,700,000
Residential Funding Co. v Home Loan Center \| Judicial Ruling \| Pre-Verdict Interest
DISCONTINUED OPERATIONS
Amount awarded to other party				14,100,000
Residential Funding Co. v Home Loan Center \| Judicial Ruling \| Attorney Fees
DISCONTINUED OPERATIONS
Amount awarded to other party				23,100,000
Residential Funding Co. v Home Loan Center \| Judicial Ruling \| Pre-Judgment Interest
DISCONTINUED OPERATIONS
Amount awarded to other party				$ 2,600,000
Residential Funding Co. v Home Loan Center \| Settled Litigation \| Damages \| ResCap
DISCONTINUED OPERATIONS
Amount awarded to other party	$ 58,500,000
Settlement payment								$ 6,400,000	26,500,000
Loss contingency receivable								$ 8,600,000			$ 8,600,000
Lehman Brothers Holdings, Inc.
DISCONTINUED OPERATIONS
Amount awarded to other party									$ 500,000
Damages sought			$ 44,700,000										$ 40,200,000
Number of loans sold with losses \| loan													370
Lehman Brothers Holdings, Inc. \| Pending Litigation
DISCONTINUED OPERATIONS
Number of defendants \| defendant					149
Lehman Brothers Holdings Inc. v. LendingTree, LLC
DISCONTINUED OPERATIONS
Damages sought		$ 13,300,000

DISCONTINUED OPERATIONS - Schedule of financial information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	$ 0	$ 0	$ 0
Other operating expenses	(33,308)	(35,002)	(16,228)
Loss before income taxes	(33,308)	(30,487)	(16,228)
Income tax benefit	7,619	8,855	3,408
Loss from discontinued operations, net of tax	(25,689)	(21,632)	(12,820)
Home Loan Center, Inc. \| Disposed of by means other than sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on disposal	$ 0	$ 4,515	$ 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			12 Months Ended
SEGMENT INFORMATION (Details) $ in Thousands	Sep. 30, 2019 segment	Oct. 31, 2018 segment	Dec. 31, 2020 USD ($) segment	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
SEGMENT INFORMATION
Number of operating segments \| segment			3
Number of reportable segments \| segment	1	1	3
Revenue			$ 909,990	$ 1,106,603	$ 764,865
Segment cost of revenue and marketing expense			540,517	674,285	459,728
Segment profit (loss)			369,473	432,318	305,137
Cost of revenue (exclusive of cost of advertising re-sold to third parties included above)			53,408	45,624	27,587
Brand and other marketing expense			77,973	83,650	49,375
General and administrative expense			129,101	116,847	101,219
Product development			43,636	39,953	26,958
Depreciation			14,201	10,998	7,385
Amortization of intangibles			53,078	55,241	23,468
Change in fair value of contingent consideration			5,327	28,402	10,788
Severance			295	1,026	2,352
Litigation settlements and contingencies			(943)	(151)	(186)
Operating (loss) income			(6,603)	50,728	56,191
Interest expense, net			(36,300)	(20,271)	(12,437)
Other income (expense)			376	524	(10)
(Loss) income before income taxes			(42,527)	30,981	43,744
Home
SEGMENT INFORMATION
Revenue			320,992	277,935	319,176
Segment cost of revenue and marketing expense			188,869	174,814	214,475
Segment profit (loss)			132,123	103,121	104,701
Consumer
SEGMENT INFORMATION
Revenue			253,198	515,037	395,615
Segment cost of revenue and marketing expense			146,308	301,852	207,891
Segment profit (loss)			106,890	213,185	187,724
Insurance
SEGMENT INFORMATION
Revenue			333,765	284,792	31,369
Segment cost of revenue and marketing expense			202,623	170,153	20,011
Segment profit (loss)			131,142	114,639	11,358
Other
SEGMENT INFORMATION
Revenue			2,035	28,839	18,705
Segment cost of revenue and marketing expense			2,717	27,466	17,351
Segment profit (loss)			$ (682)	$ 1,373	$ 1,354