0001434621-21-000019 | 10-Q | XBRL Viewer

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Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2021	Jul. 23, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-34063
Entity Registrant Name	LendingTree, Inc.
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001434621
Current Fiscal Year End Date	--12-31
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	TREE
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		13,315,038

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenue	$ 270,014	$ 184,326	$ 542,764	$ 467,410
Costs and expenses:
Cost of revenue (exclusive of depreciation and amortization shown separately below)	13,934	13,464	27,829	27,716
Selling and marketing expense	185,206	113,921	382,668	309,459
General and administrative expense	39,811	28,489	74,800	60,571
Product development	13,290	10,812	25,758	21,775
Depreciation	4,443	3,550	8,161	6,928
Amortization of intangibles	11,310	13,756	22,622	27,513
Change in fair value of contingent consideration	(8,850)	9,175	(8,053)	1,053
Severance	0	32	0	190
Litigation settlements and contingencies	322	(1,325)	338	(996)
Total costs and expenses	259,466	191,874	534,123	454,209
Operating income (loss)	10,548	(7,548)	8,641	13,201
Other (expense) income, net:
Interest expense, net	(9,840)	(4,955)	(20,055)	(9,789)
Other income	0	7	40,072	7
Income (loss) before income taxes	708	(12,496)	28,658	3,419
Income tax benefit	9,092	3,880	454	6,941
Net income (loss) from continuing operations	9,800	(8,616)	29,112	10,360
Loss from discontinued operations, net of tax	(3,199)	(21,141)	(3,462)	(25,716)
Net income (loss) and comprehensive income (loss)	$ 6,601	$ (29,757)	$ 25,650	$ (15,356)
Weighted average shares outstanding:
Basic (in shares)	13,243	12,984	13,157	12,971
Diluted (in shares)	13,719	12,984	13,913	13,954
Income (loss) per share from continuing operations:
Basic (in dollars per share)	$ 0.74	$ (0.66)	$ 2.21	$ 0.80
Diluted (in dollars per share)	0.71	(0.66)	2.09	0.74
Loss per share from discontinued operations:
Basic (in dollars per share)	(0.24)	(1.63)	(0.26)	(1.98)
Diluted (in dollars per share)	(0.23)	(1.63)	(0.25)	(1.84)
Net income (loss) per share:
Basic (in dollars per share)	0.50	(2.29)	1.95	(1.18)
Diluted (in dollars per share)	$ 0.48	$ (2.29)	$ 1.84	$ (1.10)

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
ASSETS:
Cash and cash equivalents	$ 203,164	$ 169,932
Restricted cash and cash equivalents	83	117
Accounts receivable (net of allowance of $1,473 and $1,402, respectively)	124,076	89,841
Prepaid and other current assets	18,211	27,949
Current assets of discontinued operations	0	8,570
Total current assets	345,534	296,409
Property and equipment (net of accumulated depreciation of $23,696 and $20,238, respectively)	74,701	62,381
Operating lease right-of-use assets	79,967	84,109
Goodwill	420,139	420,139
Intangible assets, net	105,880	128,502
Deferred income tax assets	96,679	96,224
Equity investment	121,253	80,000
Other non-current assets	5,440	5,334
Non-current assets of discontinued operations	17,044	15,892
Total assets	1,266,637	1,188,990
LIABILITIES:
Current portion of long-term debt	161,723	0
Accounts payable, trade	6,623	10,111
Accrued expenses and other current liabilities	106,376	101,196
Current contingent consideration	196	0
Current liabilities of discontinued operations	4,933	536
Total current liabilities	279,851	111,843
Long-term debt	465,876	611,412
Operating lease liabilities	100,153	92,363
Non-current contingent consideration	0	8,249
Other non-current liabilities	389	362
Total liabilities	846,269	824,229
Commitments and contingencies
SHAREHOLDERS' EQUITY:
Preferred stock $.01 par value; 5,000,000 shares authorized; none issued or outstanding	0	0
Common stock $.01 par value; 50,000,000 shares authorized; 15,955,742 and 15,766,193 shares issued, respectively, and 13,314,424 and 13,124,875 shares outstanding, respectively	160	158
Additional paid-in capital	1,218,628	1,188,673
Accumulated deficit	(615,259)	(640,909)
Treasury stock; 2,641,318 shares	(183,161)	(183,161)
Total shareholders' equity	420,368	364,761
Total liabilities and shareholders' equity	$ 1,266,637	$ 1,188,990

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 1,473	$ 1,402
Accumulated depreciation	$ 23,696	$ 20,238
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	15,955,742	15,766,193
Common stock, shares outstanding	13,314,424	13,124,875
Treasury stock, shares	2,641,318	2,641,318

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock
Beginning balance at Dec. 31, 2019	$ 402,326	$ 157	$ 1,177,984	$ (592,654)	$ (183,161)
Beginning balance (in shares) at Dec. 31, 2019		15,677			2,641
Increase (Decrease) in Stockholders' Equity
Net income (loss) and comprehensive income (loss)	14,401			14,401
Non-cash compensation	11,917		11,917
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	(5,087)		(5,087)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes (in shares)		27
Other	0		(1)	1
Ending balance at Mar. 31, 2020	423,557	$ 157	1,184,813	(578,252)	$ (183,161)
Ending balance (in shares) at Mar. 31, 2020		15,704			2,641
Beginning balance at Dec. 31, 2019	402,326	$ 157	1,177,984	(592,654)	$ (183,161)
Beginning balance (in shares) at Dec. 31, 2019		15,677			2,641
Increase (Decrease) in Stockholders' Equity
Net income (loss) and comprehensive income (loss)	(15,356)
Ending balance at Jun. 30, 2020	405,977	$ 157	1,196,990	(608,009)	$ (183,161)
Ending balance (in shares) at Jun. 30, 2020		15,731			2,641
Beginning balance at Mar. 31, 2020	423,557	$ 157	1,184,813	(578,252)	$ (183,161)
Beginning balance (in shares) at Mar. 31, 2020		15,704			2,641
Increase (Decrease) in Stockholders' Equity
Net income (loss) and comprehensive income (loss)	(29,757)			(29,757)
Non-cash compensation	13,158		13,158
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	(981)		(981)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes (in shares)		27
Ending balance at Jun. 30, 2020	405,977	$ 157	1,196,990	(608,009)	$ (183,161)
Ending balance (in shares) at Jun. 30, 2020		15,731			2,641
Beginning balance at Dec. 31, 2020	364,761	$ 158	1,188,673	(640,909)	$ (183,161)
Beginning balance (in shares) at Dec. 31, 2020		15,766			2,641
Increase (Decrease) in Stockholders' Equity
Net income (loss) and comprehensive income (loss)	19,049			19,049
Non-cash compensation	16,436		16,436
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	(4,801)		(4,801)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes (in shares)		31
Other	(2)		(2)
Ending balance at Mar. 31, 2021	395,443	$ 158	1,200,306	(621,860)	$ (183,161)
Ending balance (in shares) at Mar. 31, 2021		15,797			2,641
Beginning balance at Dec. 31, 2020	364,761	$ 158	1,188,673	(640,909)	$ (183,161)
Beginning balance (in shares) at Dec. 31, 2020		15,766			2,641
Increase (Decrease) in Stockholders' Equity
Net income (loss) and comprehensive income (loss)	25,650
Ending balance at Jun. 30, 2021	420,368	$ 160	1,218,628	(615,259)	$ (183,161)
Ending balance (in shares) at Jun. 30, 2021		15,956			2,641
Beginning balance at Mar. 31, 2021	395,443	$ 158	1,200,306	(621,860)	$ (183,161)
Beginning balance (in shares) at Mar. 31, 2021		15,797			2,641
Increase (Decrease) in Stockholders' Equity
Net income (loss) and comprehensive income (loss)	6,601			6,601
Non-cash compensation	18,294		18,294
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	30	$ 2	28
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes (in shares)		159
Ending balance at Jun. 30, 2021	$ 420,368	$ 160	$ 1,218,628	$ (615,259)	$ (183,161)
Ending balance (in shares) at Jun. 30, 2021		15,956			2,641

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities attributable to continuing operations:
Net income (loss) and comprehensive income (loss)	$ 25,650	$ (15,356)
Less: Loss from discontinued operations, net of tax	3,462	25,716
Income from continuing operations	29,112	10,360
Adjustments to reconcile income from continuing operations to net cash provided by operating activities attributable to continuing operations:
Loss on impairments and disposal of assets	1,400	552
Amortization of intangibles	22,622	27,513
Depreciation	8,161	6,928
Non-cash compensation expense	34,730	25,075
Deferred income taxes	(455)	(7,000)
Change in fair value of contingent consideration	(8,053)	1,053
Unrealized gain on investments	(40,072)	0
Bad debt expense	1,145	949
Amortization of debt issuance costs	2,547	1,158
Amortization of convertible debt discount	14,670	6,250
Reduction in carrying amount of ROU asset, offset by change in operating lease liabilities	11,079	1,956
Changes in current assets and liabilities:
Accounts receivable	(35,381)	35,501
Prepaid and other current assets	(680)	1,369
Accounts payable, accrued expenses and other current liabilities	3,845	(19,134)
Current contingent consideration	0	(2,670)
Income taxes receivable	10,322	63
Other, net	(412)	(2,007)
Net cash provided by operating activities attributable to continuing operations	54,580	87,916
Cash flows from investing activities attributable to continuing operations:
Capital expenditures	(23,585)	(9,108)
Equity investment	(1,180)	(80,000)
Net cash used in investing activities attributable to continuing operations	(24,765)	(89,108)
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	(4,771)	(6,068)
Net proceeds from revolving credit facility	0	55,000
Payment of debt issuance costs	(168)	(306)
Contingent consideration payments	0	(3,330)
Other financing activities	(31)	(14)
Net cash (used in) provided by financing activities attributable to continuing operations	(4,970)	45,282
Total cash provided by continuing operations	24,845	44,090
Net cash provided by (used in) operating activities attributable to discontinued operations	8,353	(2,571)
Total cash provided by (used in) discontinued operations	8,353	(2,571)
Net increase in cash, cash equivalents, restricted cash and restricted cash equivalents	33,198	41,519
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	170,049	60,339
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	$ 203,247	$ 101,858

ORGANIZATION	6 Months Ended
ORGANIZATION	Jun. 30, 2021
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. The HLC Bankruptcy case was closed on July 14, 2021. See Note 17—Discontinued Operations for additional information. Intercompany transactions and accounts have been eliminated. Discontinued Operations The LendingTree Loans business, which consisted of originating various consumer mortgage loans through HLC (the "LendingTree Loans Business"), is presented as discontinued operations in the accompanying consolidated balance sheets, consolidated statements of operations and comprehensive income and consolidated cash flows for all periods presented. The notes accompanying these consolidated financial statements reflect the Company's continuing operations and, unless otherwise noted, exclude information related to the discontinued operations. See Note 17—Discontinued Operations for additional information. Basis of Presentation The accompanying unaudited interim consolidated financial statements as of June 30, 2021 and for the three and six months ended June 30, 2021 and 2020, respectively, have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). In the opinion of management, the unaudited interim consolidated financial statements have been prepared on the same basis as the audited financial statements, and include all adjustments, consisting only of normal recurring adjustments, necessary for the fair statement of the Company's financial position for the periods presented. The results for the three and six months ended June 30, 2021 are not necessarily indicative of the results to be expected for the year ending December 31, 2021, or any other period. The accompanying consolidated balance sheet as of December 31, 2020 was derived from audited financial statements included in the Company's annual report on Form 10-K for the year ended December 31, 2020 (the "2020 Annual Report"). The accompanying consolidated financial statements do not include all of the information and footnotes required by GAAP for annual financial statements. Accordingly, they should be read in conjunction with the audited financial statements and notes thereto included in the 2020 Annual Report.

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2021
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Accounting Estimates Management is required to make certain estimates and assumptions during the preparation of the consolidated financial statements in accordance with GAAP. These estimates and assumptions impact the reported amount of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. They also impact the reported amount of net earnings during any period. Actual results could differ from those estimates. Significant estimates underlying the accompanying consolidated financial statements, including discontinued operations, include: 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 June 30, 2021, 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. 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. Litigation Settlements and Contingencies Litigation settlements and contingencies consists of expenses related to actual or anticipated litigation settlements. Recently Adopted Accounting Pronouncements In May 2021, the FASB issued ASU 2021-04 to clarify and reduce diversity in accounting for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after modification or exchange. The amendments clarify that a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange should be accounted for as an exchange of the original instrument for a new instrument. This ASU is effective for annual and interim reporting periods beginning after December 15, 2021. Early adoption is permitted, including adoption in interim periods. An entity should adopt the guidance as of the beginning of its annual fiscal year. The amendments should be applied prospectively to modifications or exchanges occurring on or after the date of adoption. The Company adopted ASU 2021-04 in the second quarter of 2021. In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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 was permitted, including adoption in interim periods. Entities electing early adoption were required to adopt all amendments in the same period. Most amendments require prospective application 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 adopted ASU 2019-12 in the first quarter of 2021. The amendments applicable to the Company required prospective application, and do not have material impacts to its consolidated financial statements. 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.

REVENUE

6 Months Ended

Jun. 30, 2021

Revenue from Contract with Customer [Abstract]

REVENUE

Revenue is as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Home	$	104,861	$	74,123	$	232,986	$	153,297
Credit cards	22,424		7,194		40,061		58,780
Personal loans	25,208		8,827		40,076		40,336
Other Consumer	28,044		21,097		53,446		57,926
Total Consumer	75,676		37,118		133,583		157,042
Insurance	89,263		72,919		175,877		155,656
Other	214		166		318		1,415
Total revenue	$	270,014	$	184,326	$	542,764	$	467,410

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. The Company's services are generally transferred to the customer at a point in time.

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.

The Company recognizes revenue on closing fees and approval fees at the point when a loan request or a credit card consumer is delivered to the customer. 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.

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.

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 $7.3 million and $6.4 million at June 30, 2021 and December 31, 2020, 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 $1.1 million and $0.7 million at June 30, 2021 and December 31, 2020, respectively. During the second quarter and first six months of 2021, the Company recognized revenue of $0.1 million and $0.7 million, respectively, that was included in the contract liability balance at December 31, 2020. During the second quarter and first six months of 2020, the Company recognized revenue of $0.1 million and $0.6 million, respectively, that was included in the contract liability balance at December 31, 2019.

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 $0.1 million and $0.3 million in the second quarters of 2021 and 2020, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

CASH AND RESTRICTED CASH

6 Months Ended

Jun. 30, 2021

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):


	June 30, 2021		December 31, 2020
Cash and cash equivalents	$	203,164	$	169,932
Restricted cash and cash equivalents	83		117
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$	203,247	$	170,049

ALLOWANCE FOR DOUBTFUL ACCOUNTS

6 Months Ended

Jun. 30, 2021

Credit Loss [Abstract]

ALLOWANCE FOR DOUBTFUL ACCOUNTS

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):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Balance, beginning of the period	$	1,429	$	2,021	$	1,402	$	1,466
Charges to earnings	629		69		1,145		949
Write-off of uncollectible accounts receivable	(585)		(337)		(1,079)		(669)
Recoveries collected	—		3		5		10
Balance, end of the period	$	1,473	$	1,756	$	1,473	$	1,756

- Definition

The entire disclosure for credit loss on financial instrument measured at amortized cost basis, net investment in lease, off-balance sheet credit exposure, and available-for-sale debt security.

+ References + Details

GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

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


	June 30, 2021		December 31, 2020
Goodwill	$	903,227	$	903,227
Accumulated impairment losses	(483,088)		(483,088)
Net goodwill	$	420,139	$	420,139

Intangible assets with indefinite lives	$	10,142	$	10,142
Intangible assets with definite lives, net	95,738		118,360
Total intangible assets, net	$	105,880	$	128,502

Goodwill and Indefinite-Lived Intangible Assets

The Company's goodwill at each of June 30, 2021 and December 31, 2020 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.

Intangible assets with indefinite lives relate to the Company's trademarks.

Intangible Assets with Definite Lives

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


	Cost		Accumulated Amortization		Net
Technology	$	87,700	$	(58,768)	$	28,932
Customer lists	77,300		(21,614)		55,686
Trademarks and tradenames	17,000		(11,513)		5,487
Website content	43,200		(37,567)		5,633
Balance at June 30, 2021	$	225,200	$	(129,462)	$	95,738


	Cost		Accumulated Amortization		Net
Technology	$	87,700	$	(48,166)	$	39,534
Customer lists	77,300		(18,560)		58,740
Trademarks and tradenames	17,200		(9,947)		7,253
Website content	43,200		(30,367)		12,833
Balance at December 31, 2020	$	225,400	$	(107,040)	$	118,360

Amortization of intangible assets with definite lives is computed on a straight-line basis and, based on balances as of June 30, 2021, future amortization is estimated to be as follows (in thousands):


	Amortization Expense
Remainder of current year	$	20,116
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	$	95,738

EQUITY INVESTMENT	6 Months Ended
EQUITY INVESTMENT	Jun. 30, 2021
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. On January 6, 2021, the Company acquired additional equity interest for $1.2 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 to the consolidated statement of operations and comprehensive income. During the first six months of 2021, the Company recorded a gain on the investment in Stash of $40.1 million as a result of an adjustment to the fair value of the Stash equity securities based on observable market events, which is included within other income on the consolidated statement of operations and comprehensive income. As of June 30, 2021, there have been no impairments to the acquisition cost of the Stash equity securities.

BUSINESS ACQUISITIONS

6 Months Ended

Jun. 30, 2021

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”). During 2020, the Company made the final earnout payment related to the achievement of certain defined operating metrics for Ovation.

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 Company will make an earnout payment ranging from zero to $23.4 million based on the achievement of certain defined performance targets for QuoteWizard.

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
QuoteWizard	$	(8,850)	$	8,058	$	(8,053)	$	(204)
Ovation	—		1,039		—		1,180
SnapCap	—		78		—		77
Total changes in fair value of contingent consideration	$	(8,850)	$	9,175	$	(8,053)	$	1,053

As of June 30, 2021, the estimated fair value of the contingent consideration for the QuoteWizard acquisition totaled $0.2 million, which is included in current contingent consideration in the accompanying consolidated balance sheet. The

estimated fair value of the contingent consideration payments is determined using an option pricing model. The estimated value of the contingent consideration is based upon available information and certain assumptions, known at the time of this report, which management believes are reasonable.

Any differences in the actual contingent consideration payments will be recorded in operating income in the consolidated statements of operations and comprehensive income.

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

6 Months Ended

Jun. 30, 2021

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

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


	June 30, 2021		December 31, 2020
Accrued advertising expense	$	62,840	$	54,045
Accrued compensation and benefits	10,632		14,081
Accrued professional fees	3,278		1,869
Customer deposits and escrows	7,467		8,153
Contribution to LendingTree Foundation	3,333		3,333
Current lease liabilities	5,286		5,375
Other	13,540		14,340
Total accrued expenses and other current liabilities	$	106,376	$	101,196

SHAREHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

SHAREHOLDERS' EQUITY

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


	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
Weighted average basic common shares	13,243	12,984	13,157	12,971
Effect of stock options	394	—	523	592
Effect of dilutive share awards	72	—	103	91
Effect of Convertible Senior Notes and warrants	10	—	130	300
Weighted average diluted common shares	13,719	12,984	13,913	13,954

For the second quarter of 2021, the weighted average shares that were anti-dilutive, and therefore excluded from the calculation of diluted income per share, included options to purchase 0.9 million shares of common stock and 0.2 million restricted stock units. For the first six months of 2021, the weighted average shares that were anti-dilutive included options to purchase 0.4 million shares of common stock.

For the second quarter of 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 0.8 million shares related to potentially dilutive securities were excluded from the calculation of diluted loss per share for the second quarter of 2020, because their inclusion would have been anti-dilutive. For the second quarter of 2020, the weighted average shares that were anti-dilutive included options to purchase 0.7 million shares of common stock and 0.1 million restricted stock units. For the first six months of 2020, the weighted average shares that were anti-dilutive included options to purchase 0.2 million shares of common stock.

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 13—Debt for additional information. Shares of the Company's common stock associated with the 0.50% Convertible Senior Notes due July 15, 2025 were excluded from the calculation of diluted income per share for the second quarter and first six months of 2021 as they were anti-dilutive since the conversion price of the notes was greater than the average market price of the Company’s common stock during the relevant periods. Shares of the Company's common stock associated with the warrants were excluded from the calculation of diluted income per share for the

second quarter and first six months of 2021 and the first six months of 2020 as they were anti-dilutive since the strike price of the warrants was greater than the average market price of the Company's common stock during the relevant periods.

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. There were no repurchases of the Company's common stock during the first six months of 2021 and 2020. At June 30, 2021, approximately $179.7 million of the previous authorizations to repurchase common stock remain available.

STOCK-BASED COMPENSATION

6 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Cost of revenue	$	463	$	333	$	860	$	575
Selling and marketing expense	1,976		1,597		3,778		2,753
General and administrative expense	13,254		9,729		25,425		18,852
Product development	2,601		1,499		4,667		2,895
Total non-cash compensation	$	18,294	$	13,158	$	34,730	$	25,075

Stock Options

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


	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value(a)
		(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2021	924,710	$	111.82
Granted (b)	69,258	243.71
Exercised	(156,113)	7.17
Forfeited	(4,727)	263.72
Expired	(35)	371.25
Options outstanding at June 30, 2021	833,093	141.52		5.20	$	82,110
Options exercisable at June 30, 2021	543,666	$	71.06	3.20	$	82,039

(a)The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company's closing stock price of $211.88 on the last trading day of the quarter ended June 30, 2021 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 June 30, 2021. The intrinsic value changes based on the market value of the Company's common stock.

(b)During the six months ended June 30, 2021, the Company granted stock options to certain employees and members of the board of directors with a weighted average grant date fair value per share of $130.25, calculated using the Black-Scholes option pricing model, which vesting periods include (a) immediate vesting on grant date (b) earlier of one year from grant date and the Company's annual meeting of stockholders for 2022 and (c) three years from grant date.

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


Expected term (1)			5.00 - 6.00 years
Expected dividend (2)			—
Expected volatility (3)			53 - 59%
Risk-free interest rate (4)			0.59 - 1.07%

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

(2)For all stock options granted in 2021, no dividends are expected to be paid over the contractual term of the stock options, resulting in a zero expected dividend rate.

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

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

Stock Options with Market Conditions

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


	Number of Options with Market Conditions	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value(a)
		(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2021	700,209	$	236.01
Granted	—	—
Exercised	—	—
Forfeited	—	—
Expired	—	—
Options outstanding at June 30, 2021	700,209	236.01		7.25	$	11,308
Options exercisable at June 30, 2021	—	$	—	0.00	$	—

A maximum of 1,169,349 shares may be earned for achieving superior performance up to 167% of the target number of shares. As of June 30, 2021, performance-based nonqualified 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 restricted stock units ("RSUs") is as follows:


	RSUs
	Number of Units	Weighted Average Grant Date Fair Value
		(per unit)
Nonvested at January 1, 2021	194,686	$	289.82
Granted	149,259	245.00
Vested	(54,644)	290.38
Forfeited	(20,735)	269.88
Nonvested at June 30, 2021	268,566	$	266.34

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 January 1, 2021	6,328	$	223.90
Granted	—	—
Vested	—	—
Forfeited	—	—
Nonvested at June 30, 2021	6,328	$	223.90

Restricted Stock Awards with Performance Conditions

A summary of changes in outstanding nonvested restricted stock awards ("RSAs") with performance conditions is as follows:


	RSAs with Performance Conditions
	Number of Awards	Weighted Average Grant Date Fair Value
		(per unit)
Nonvested at January 1, 2021	23,804	$	340.25
Granted	—	—
Vested	(11,902)	340.25
Forfeited	—	—
Nonvested at June 30, 2021	11,902	$	340.25

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 January 1, 2021	26,674	$	340.25
Granted	—	—
Vested	—	—
Forfeited	—	—
Nonvested at June 30, 2021	26,674	$	340.25

A maximum of 44,545 shares may be earned for achieving superior performance up to 167% of the target number of shares. As of June 30, 2021, performance-based restricted stock awards with a market condition of 29,601 had been earned, which have a vest date of September 30, 2022.

INCOME TAXES

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

INCOME TAXES


	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
	(in thousands, except percentages)
Income tax benefit	$	9,092		$	3,880		$	454		$	6,941
Effective tax rate	(1,284.2)		%	31.0		%	(1.6)		%	(203.0)		%

For the second quarter and first six months of 2021, the effective tax rate varied from the federal statutory rate of 21% in part due to a tax benefit of $8.3 million recognized for excess tax benefits resulting from employee exercises of stock options and vesting of restricted stock in accordance with ASU 2016-09 and the effect of state taxes.

For the second quarter and first six months of 2020, the effective tax rate varied from the federal statutory rate of 21% in part due to a tax benefit of $0.8 million and $1.8 million, respectively, recognized for excess tax benefits resulting from employee exercises of stock options and vesting of restricted stock in accordance with ASU 2016-09 and the effect of state taxes. The effective tax rate for the first six months of 2020 was also impacted by a tax benefit of $6.1 million for the impact of the Coronavirus Aid, Relief, and Economic Security ("CARES") Act, as described below.

On March 27, 2020, President Trump signed into law the CARES Act. This legislation is an economic relief package in response to the public health and economic impacts of COVID-19 and includes various provisions that impact the Company, including, but not limited to, modifications for net operating losses, accelerated timeframe for refunds associated with prior minimum taxes and modifications of the limitation on business interest.

The Company revalued deferred tax assets related to net operating losses in light of the changes in the CARES Act and recorded a net tax benefit of $6.1 million during the first six months of 2020. These deferred tax assets are being revalued, as they have been carried back to 2016 and 2017, which are tax periods prior to the Tax Cuts and Jobs Act ("TCJA") when the federal statutory tax rate was 35% versus the 21% federal statutory tax rate in effect after the enactment of the TCJA.


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(in thousands)
Income tax benefit (expense) - excluding excess tax benefit on stock compensation and CARES Act	$	831	$	3,127	$	(7,839)	$	(970)
Excess tax benefit on stock compensation	8,261		753		8,293		1,807
Income tax benefit from CARES Act	—		—		—		6,104
Income tax benefit	$	9,092	$	3,880	$	454	$	6,941

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

DEBT

6 Months Ended

Jun. 30, 2021

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 June 30, 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 March 31, 2021, 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 September 30, 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 June 30, 2021, 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.

In the first six months of 2021, the Company recorded interest expense on the 2025 Notes of $13.5 million which consisted of $1.4 million associated with the 0.50% coupon rate, $11.0 million associated with the accretion of the debt discount, and $1.1 million associated with the amortization of the debt issuance costs. The debt discount is being amortized over the term of the debt.

As of June 30, 2021, the fair value of the 2025 Notes is estimated to be approximately $520.4 million using the Level 1 observable input of the last quoted market price on June 30, 2021.

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, all of which is recorded as a non-current liability in the June 30, 2021 consolidated balance sheet, are as follows (in thousands):


	June 30, 2021		December 31, 2020
Gross carrying amount	$	575,000	$	575,000
Unamortized debt discount	99,166		110,110
Debt issuance costs	9,958		11,056
Net carrying amount	$	465,876	$	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 not entitled to convert the 2022 Notes during the calendar quarter ended June 30, 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 March 31, 2021, was not 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 September 30, 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 June 30, 2021, 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.

In the first six months of 2021, the Company recorded interest expense on the 2022 Notes of $4.7 million which consisted of $0.5 million associated with the 0.625% coupon rate, $3.8 million associated with the accretion of the debt discount, and $0.4 million associated with the amortization of the debt issuance costs. In the first six months of 2020, the Company recorded interest expense on the 2022 Notes of $7.9 million which consisted of $0.9 million associated with the 0.625% coupon rate, $6.3 million associated with the accretion of the debt discount, and $0.7 million associated with the amortization of the debt issuance costs. The debt discount is being amortized over the term of the debt.

As of June 30, 2021, the fair value of the 2022 Notes is estimated to be approximately $208.7 million using the Level 1 observable input of the last quoted market price on June 30, 2021.

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, all of which is recorded as a current liability in the June 30, 2021 consolidated balance sheet, are as follows (in thousands):


	June 30, 2021		December 31, 2020
Gross carrying amount	$	169,659	$	169,690
Unamortized debt discount	7,086		10,815
Debt issuance costs	850		1,297
Net carrying amount	$	161,723	$	157,578

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 June 30, 2021 and December 31, 2020, the Company had no borrowings outstanding under the Amended Revolving Credit Facility.

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 June 30, 2021 and December 31, 2020, 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 were applicable from the effective date through the fiscal quarter ending June 30, 2021.

The Company was in compliance with all covenants at June 30, 2021.

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.

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 were amortized to interest expense through June 30, 2021. Unamortized debt issuance costs are included in prepaid and other current assets and other non-current assets in the Company's consolidated balance sheet.

In the first six months of 2021, the Company recorded interest expense related to the Amended Revolving Credit Facility of $2.3 million which consisted of $1.3 million in unused commitment fees and $1.0 million associated with the amortization of the debt issuance costs. In the first six months of 2020, the Company recorded interest expense related to the Amended Revolving Credit Facility of $2.1 million which consisted of $1.1 million associated with borrowings bearing interest at the LIBO rate, $0.5 million in unused commitment fees, and $0.5 million associated with the amortization of the debt issuance costs.

CONTINGENCIES	6 Months Ended
CONTINGENCIES	Jun. 30, 2021
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 14, 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 June 30, 2021, the Company had litigation settlement accruals of $1.0 million and $4.9 million in continuing operations and discontinued operations, respectively. 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. 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 17—Discontinued Operations for additional information.

FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTSOther 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 June 30, 2021. See Note 13—Debt for additional information on the convertible notes and warrants, and see Note 7—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 are as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Contingent consideration, beginning of period	$	9,046	$	22,342	$	8,249	$	33,464
Transfers into Level 3	—		—		—		—
Transfers out of Level 3	—		—		—		—
Total net losses (gains) included in earnings (realized and unrealized)	(8,850)		9,175		(8,053)		1,053
Purchases, sales and settlements:
Additions	—		—		—		—
Payments	—		(3,000)		—		(6,000)
Contingent consideration, end of period	$	196	$	28,517	$	196	$	28,517

The contingent consideration liability at June 30, 2021 is the estimated fair value of the remaining earnout payment for the QuoteWizard acquisition. 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 8—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.

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


	Fair Value at June 30, 2021		Valuation Technique	Unobservable Input	Range (Weighted Average)(a)
	(in thousands)
Contingent consideration	$	196	Option pricing model	Operating results growth rate	(21.4)	%
				Discount rate	3.1	%

(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

SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2021

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 chief operating decision maker for the purpose of assessing performance and allocating resources.

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 in the first six months of 2020 is included within the Other category. The Company ceased reselling online advertising space during the first quarter of 2020.

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 in the first six months of 2020 also includes the portion of cost of revenue attributable to costs paid for advertising re-sold to third parties.


	Three Months Ended June 30, 2021
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	104,861	$	75,676	$	89,263	$	214	$	270,014
Segment marketing expense	65,844		42,282		56,025		263		164,414
Segment profit (loss)	39,017		33,394		33,238		(49)		105,600
Cost of revenue									13,934
Brand and other marketing expense									20,792
General and administrative expense									39,811
Product development									13,290
Depreciation									4,443
Amortization of intangibles									11,310
Change in fair value of contingent consideration									(8,850)

Litigation settlements and contingencies									322
Operating income									10,548
Interest expense, net									(9,840)

Income before income taxes and discontinued operations									$	708


	Three Months Ended June 30, 2020
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	74,123	$	37,118	$	72,919	$	166	$	184,326
Segment marketing expense	35,397		17,716		42,797		85		95,995
Segment profit (loss)	38,726		19,402		30,122		81		88,331
Cost of revenue									13,464
Brand and other marketing expense									17,926
General and administrative expense									28,489
Product development									10,812
Depreciation									3,550
Amortization of intangibles									13,756
Change in fair value of contingent consideration									9,175
Severance									32
Litigation settlements and contingencies									(1,325)
Operating loss									(7,548)
Interest expense, net									(4,955)
Other income									7
Loss before income taxes and discontinued operations									$	(12,496)


	Six Months Ended June 30, 2021
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	232,986	$	133,583	$	175,877	$	318	$	542,764
Segment marketing expense	154,979		75,582		109,797		459		340,817
Segment profit (loss)	78,007		58,001		66,080		(141)		201,947
Cost of revenue									27,829
Brand and other marketing expense									41,851
General and administrative expense									74,800
Product development									25,758
Depreciation									8,161
Amortization of intangibles									22,622
Change in fair value of contingent consideration									(8,053)

Litigation settlements and contingencies									338
Operating income									8,641
Interest expense, net									(20,055)
Other income									40,072
Income before income taxes and discontinued operations									$	28,658


	Six Months Ended June 30, 2020
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	153,297	$	157,042	$	155,656	$	1,415	$	467,410
Segment cost of revenue and marketing expense	78,660		94,541		95,001		1,662		269,864
Segment profit (loss)	74,637		62,501		60,655		(247)		197,546
Cost of revenue (exclusive of cost of advertising re-sold to third parties included above)									26,630
Brand and other marketing expense									40,681
General and administrative expense									60,571
Product development									21,775
Depreciation									6,928
Amortization of intangibles									27,513
Change in fair value of contingent consideration									1,053
Severance									190
Litigation settlements and contingencies									(996)
Operating income									13,201
Interest expense, net									(9,789)
Other income									7
Income before income taxes and discontinued operations									$	3,419

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

DISCONTINUED OPERATIONS

6 Months Ended

Jun. 30, 2021

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. HLC agreed to retain certain liability for losses on previously sold loans.

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

Home Loan Center, Inc. Bankruptcy Filing

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

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

HLC’s 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.

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.

During its bankruptcy, HLC indicated that it believed that it had 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.

During the HLC bankruptcy, a bar date for claims against HLC was set, establishing a deadline for all HLC’s creditors to assert any claim they may have had against HLC. Distributions were made to holders of allowed claims deemed timely filed. After all distributions to creditors were made and HLC’s Chapter 7 bankruptcy estate was fully administered, the HLC bankruptcy case was closed on July 14, 2021.

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.

HLC’s filing under the Bankruptcy Code discussed above in Home Loan Center, Inc. Bankruptcy Filing created 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. 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 was responsible for the difference of $58.5 million minus the amount that ResCap received 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, and the ResCap Liquidating Trust, in turn, assigned its allowed claims against HLC to the Company. In the second quarter of 2021, the Company received a refund of $8.6 million related to these amounts, from the final distributions in the HLC Bankruptcy on account of the allowed claims that the ResCap Liquidating Trust had assigned to the Company.

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"). 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.

HLC’s filing under the Bankruptcy Code discussed above in Home Loan Center, Inc. Bankruptcy Filing created 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.), transferred to Case No. 08-13555 (SCC), Adversary Proceeding No. 21-01107 (SCC) (Bankr. S.D.N.Y.), seeking to hold the Company liable for its allowed bankruptcy claim of $13.3 million. In July 2021, the Company reached a settlement with LBHI, which is included as a liability on the accompanying consolidated balance sheet as of June 30, 2021.

Financial Information of Discontinued Operations

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Revenue	$	—	$	—	$	—	$	—

Loss before income taxes	(4,261)		(28,424)		(4,614)		(34,526)
Income tax benefit	1,062		7,283		1,152		8,810
Net loss	$	(3,199)	$	(21,141)	$	(3,462)	$	(25,716)

Losses from discontinued operations included all activity of HLC prior to bankruptcy, including litigation settlements, contingencies and legal fees associated with legal proceedings.

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.

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2021
Accounting Policies [Abstract]
Accounting Estimates	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	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 June 30, 2021, 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. 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.
Litigation Settlements and Contingencies	Litigation Settlements and Contingencies Litigation settlements and contingencies consists of expenses related to actual or anticipated litigation settlements.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In May 2021, the FASB issued ASU 2021-04 to clarify and reduce diversity in accounting for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after modification or exchange. The amendments clarify that a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option that remains equity classified after modification or exchange should be accounted for as an exchange of the original instrument for a new instrument. This ASU is effective for annual and interim reporting periods beginning after December 15, 2021. Early adoption is permitted, including adoption in interim periods. An entity should adopt the guidance as of the beginning of its annual fiscal year. The amendments should be applied prospectively to modifications or exchanges occurring on or after the date of adoption. The Company adopted ASU 2021-04 in the second quarter of 2021. In December 2019, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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 was permitted, including adoption in interim periods. Entities electing early adoption were required to adopt all amendments in the same period. Most amendments require prospective application 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 adopted ASU 2019-12 in the first quarter of 2021. The amendments applicable to the Company required prospective application, and do not have material impacts to its consolidated financial statements. 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.

REVENUE (Tables)

6 Months Ended

Jun. 30, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Revenue is as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Home	$	104,861	$	74,123	$	232,986	$	153,297
Credit cards	22,424		7,194		40,061		58,780
Personal loans	25,208		8,827		40,076		40,336
Other Consumer	28,044		21,097		53,446		57,926
Total Consumer	75,676		37,118		133,583		157,042
Insurance	89,263		72,919		175,877		155,656
Other	214		166		318		1,415
Total revenue	$	270,014	$	184,326	$	542,764	$	467,410

CASH AND RESTRICTED CASH (Tables)

6 Months Ended

Jun. 30, 2021

Cash and Cash Equivalents [Abstract]

Schedule of Restricted Cash and Cash Equivalents

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


	June 30, 2021		December 31, 2020
Cash and cash equivalents	$	203,164	$	169,932
Restricted cash and cash equivalents	83		117
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$	203,247	$	170,049

ALLOWANCE FOR DOUBTFUL ACCOUNTS (Tables)

6 Months Ended

Jun. 30, 2021

Credit Loss [Abstract]

Reconciliation of allowance for doubtful accounts

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Balance, beginning of the period	$	1,429	$	2,021	$	1,402	$	1,466
Charges to earnings	629		69		1,145		949
Write-off of uncollectible accounts receivable	(585)		(337)		(1,079)		(669)
Recoveries collected	—		3		5		10
Balance, end of the period	$	1,473	$	1,756	$	1,473	$	1,756

GOODWILL AND INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of balance of intangible assets, net

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


	June 30, 2021		December 31, 2020
Goodwill	$	903,227	$	903,227
Accumulated impairment losses	(483,088)		(483,088)
Net goodwill	$	420,139	$	420,139

Intangible assets with indefinite lives	$	10,142	$	10,142
Intangible assets with definite lives, net	95,738		118,360
Total intangible assets, net	$	105,880	$	128,502

Schedule of intangible assets with definite lives

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


	Cost		Accumulated Amortization		Net
Technology	$	87,700	$	(58,768)	$	28,932
Customer lists	77,300		(21,614)		55,686
Trademarks and tradenames	17,000		(11,513)		5,487
Website content	43,200		(37,567)		5,633
Balance at June 30, 2021	$	225,200	$	(129,462)	$	95,738


	Cost		Accumulated Amortization		Net
Technology	$	87,700	$	(48,166)	$	39,534
Customer lists	77,300		(18,560)		58,740
Trademarks and tradenames	17,200		(9,947)		7,253
Website content	43,200		(30,367)		12,833
Balance at December 31, 2020	$	225,400	$	(107,040)	$	118,360

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


	Amortization Expense
Remainder of current year	$	20,116
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	$	95,738

BUSINESS ACQUISITIONS (Tables)

6 Months Ended

Jun. 30, 2021

Business Combinations [Abstract]

Schedule of changes in the fair value of contingent consideration

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
QuoteWizard	$	(8,850)	$	8,058	$	(8,053)	$	(204)
Ovation	—		1,039		—		1,180
SnapCap	—		78		—		77
Total changes in fair value of contingent consideration	$	(8,850)	$	9,175	$	(8,053)	$	1,053

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2021

Payables and Accruals [Abstract]

Schedule of accrued expenses and other current liabilities

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


	June 30, 2021		December 31, 2020
Accrued advertising expense	$	62,840	$	54,045
Accrued compensation and benefits	10,632		14,081
Accrued professional fees	3,278		1,869
Customer deposits and escrows	7,467		8,153
Contribution to LendingTree Foundation	3,333		3,333
Current lease liabilities	5,286		5,375
Other	13,540		14,340
Total accrued expenses and other current liabilities	$	106,376	$	101,196

SHAREHOLDERS' EQUITY (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Schedule of weighted average basic and diluted common shares

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


	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
Weighted average basic common shares	13,243	12,984	13,157	12,971
Effect of stock options	394	—	523	592
Effect of dilutive share awards	72	—	103	91
Effect of Convertible Senior Notes and warrants	10	—	130	300
Weighted average diluted common shares	13,719	12,984	13,913	13,954

STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

Schedule of non-cash compensation expense related to equity awards

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Cost of revenue	$	463	$	333	$	860	$	575
Selling and marketing expense	1,976		1,597		3,778		2,753
General and administrative expense	13,254		9,729		25,425		18,852
Product development	2,601		1,499		4,667		2,895
Total non-cash compensation	$	18,294	$	13,158	$	34,730	$	25,075

Summary of changes in outstanding stock options

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


	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value(a)
		(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2021	924,710	$	111.82
Granted (b)	69,258	243.71
Exercised	(156,113)	7.17
Forfeited	(4,727)	263.72
Expired	(35)	371.25
Options outstanding at June 30, 2021	833,093	141.52		5.20	$	82,110
Options exercisable at June 30, 2021	543,666	$	71.06	3.20	$	82,039


Expected term (1)			5.00 - 6.00 years
Expected dividend (2)			—
Expected volatility (3)			53 - 59%
Risk-free interest rate (4)			0.59 - 1.07%

(2)For all stock options granted in 2021, 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.

Schedule of stock option valuation assumptions


Expected term (1)			5.00 - 6.00 years
Expected dividend (2)			—
Expected volatility (3)			53 - 59%
Risk-free interest rate (4)			0.59 - 1.07%

(2)For all stock options granted in 2021, 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.

Schedule of changes in outstanding 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)
Options outstanding at January 1, 2021	700,209	$	236.01
Granted	—	—
Exercised	—	—
Forfeited	—	—
Expired	—	—
Options outstanding at June 30, 2021	700,209	236.01		7.25	$	11,308
Options exercisable at June 30, 2021	—	$	—	0.00	$	—

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

A summary of changes in outstanding nonvested restricted stock units ("RSUs") is as follows:


	RSUs
	Number of Units	Weighted Average Grant Date Fair Value
		(per unit)
Nonvested at January 1, 2021	194,686	$	289.82
Granted	149,259	245.00
Vested	(54,644)	290.38
Forfeited	(20,735)	269.88
Nonvested at June 30, 2021	268,566	$	266.34

Schedule of changes in outstanding nonvested RSUs and restricted stock with performance and market 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 January 1, 2021	6,328	$	223.90
Granted	—	—
Vested	—	—
Forfeited	—	—
Nonvested at June 30, 2021	6,328	$	223.90

A summary of changes in outstanding nonvested restricted stock awards ("RSAs") with performance conditions is as follows:


	RSAs with Performance Conditions
	Number of Awards	Weighted Average Grant Date Fair Value
		(per unit)
Nonvested at January 1, 2021	23,804	$	340.25
Granted	—	—
Vested	(11,902)	340.25
Forfeited	—	—
Nonvested at June 30, 2021	11,902	$	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 January 1, 2021	26,674	$	340.25
Granted	—	—
Vested	—	—
Forfeited	—	—
Nonvested at June 30, 2021	26,674	$	340.25

INCOME TAXES (Tables)

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of income tax benefit


	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
	(in thousands, except percentages)
Income tax benefit	$	9,092		$	3,880		$	454		$	6,941
Effective tax rate	(1,284.2)		%	31.0		%	(1.6)		%	(203.0)		%

Reconciliation of income tax benefit


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(in thousands)
Income tax benefit (expense) - excluding excess tax benefit on stock compensation and CARES Act	$	831	$	3,127	$	(7,839)	$	(970)
Excess tax benefit on stock compensation	8,261		753		8,293		1,807
Income tax benefit from CARES Act	—		—		—		6,104
Income tax benefit	$	9,092	$	3,880	$	454	$	6,941

DEBT (Table)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Component of the Notes


	June 30, 2021		December 31, 2020
Gross carrying amount	$	575,000	$	575,000
Unamortized debt discount	99,166		110,110
Debt issuance costs	9,958		11,056
Net carrying amount	$	465,876	$	453,834


	June 30, 2021		December 31, 2020
Gross carrying amount	$	169,659	$	169,690
Unamortized debt discount	7,086		10,815
Debt issuance costs	850		1,297
Net carrying amount	$	161,723	$	157,578

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2021

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 are as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Contingent consideration, beginning of period	$	9,046	$	22,342	$	8,249	$	33,464
Transfers into Level 3	—		—		—		—
Transfers out of Level 3	—		—		—		—
Total net losses (gains) included in earnings (realized and unrealized)	(8,850)		9,175		(8,053)		1,053
Purchases, sales and settlements:
Additions	—		—		—		—
Payments	—		(3,000)		—		(6,000)
Contingent consideration, end of period	$	196	$	28,517	$	196	$	28,517

Schedule of fair value measurement valuation

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


	Fair Value at June 30, 2021		Valuation Technique	Unobservable Input	Range (Weighted Average)(a)
	(in thousands)
Contingent consideration	$	196	Option pricing model	Operating results growth rate	(21.4)	%
				Discount rate	3.1	%

(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.

SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment


	Three Months Ended June 30, 2021
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	104,861	$	75,676	$	89,263	$	214	$	270,014
Segment marketing expense	65,844		42,282		56,025		263		164,414
Segment profit (loss)	39,017		33,394		33,238		(49)		105,600
Cost of revenue									13,934
Brand and other marketing expense									20,792
General and administrative expense									39,811
Product development									13,290
Depreciation									4,443
Amortization of intangibles									11,310
Change in fair value of contingent consideration									(8,850)

Litigation settlements and contingencies									322
Operating income									10,548
Interest expense, net									(9,840)

Income before income taxes and discontinued operations									$	708


	Three Months Ended June 30, 2020
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	74,123	$	37,118	$	72,919	$	166	$	184,326
Segment marketing expense	35,397		17,716		42,797		85		95,995
Segment profit (loss)	38,726		19,402		30,122		81		88,331
Cost of revenue									13,464
Brand and other marketing expense									17,926
General and administrative expense									28,489
Product development									10,812
Depreciation									3,550
Amortization of intangibles									13,756
Change in fair value of contingent consideration									9,175
Severance									32
Litigation settlements and contingencies									(1,325)
Operating loss									(7,548)
Interest expense, net									(4,955)
Other income									7
Loss before income taxes and discontinued operations									$	(12,496)


	Six Months Ended June 30, 2021
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	232,986	$	133,583	$	175,877	$	318	$	542,764
Segment marketing expense	154,979		75,582		109,797		459		340,817
Segment profit (loss)	78,007		58,001		66,080		(141)		201,947
Cost of revenue									27,829
Brand and other marketing expense									41,851
General and administrative expense									74,800
Product development									25,758
Depreciation									8,161
Amortization of intangibles									22,622
Change in fair value of contingent consideration									(8,053)

Litigation settlements and contingencies									338
Operating income									8,641
Interest expense, net									(20,055)
Other income									40,072
Income before income taxes and discontinued operations									$	28,658


	Six Months Ended June 30, 2020
	Home		Consumer		Insurance		Other		Total
	(in thousands)
Revenue	$	153,297	$	157,042	$	155,656	$	1,415	$	467,410
Segment cost of revenue and marketing expense	78,660		94,541		95,001		1,662		269,864
Segment profit (loss)	74,637		62,501		60,655		(247)		197,546
Cost of revenue (exclusive of cost of advertising re-sold to third parties included above)									26,630
Brand and other marketing expense									40,681
General and administrative expense									60,571
Product development									21,775
Depreciation									6,928
Amortization of intangibles									27,513
Change in fair value of contingent consideration									1,053
Severance									190
Litigation settlements and contingencies									(996)
Operating income									13,201
Interest expense, net									(9,789)
Other income									7
Income before income taxes and discontinued operations									$	3,419

DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Jun. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

Schedule of discontinued operations financial information

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Revenue	$	—	$	—	$	—	$	—

Loss before income taxes	(4,261)		(28,424)		(4,614)		(34,526)
Income tax benefit	1,062		7,283		1,152		8,810
Net loss	$	(3,199)	$	(21,141)	$	(3,462)	$	(25,716)

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 270,014	$ 184,326	$ 542,764	$ 467,410
Other
Disaggregation of Revenue [Line Items]
Revenue	214	166	318	1,415
Home
Disaggregation of Revenue [Line Items]
Revenue	104,861	74,123	232,986	153,297
Consumer
Disaggregation of Revenue [Line Items]
Revenue	75,676	37,118	133,583	157,042
Consumer \| Credit Cards
Disaggregation of Revenue [Line Items]
Revenue	22,424	7,194	40,061	58,780
Consumer \| Personal Loans
Disaggregation of Revenue [Line Items]
Revenue	25,208	8,827	40,076	40,336
Consumer \| Other Consumer
Disaggregation of Revenue [Line Items]
Revenue	28,044	21,097	53,446	57,926
Insurance
Disaggregation of Revenue [Line Items]
Revenue	$ 89,263	$ 72,919	$ 175,877	$ 155,656

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

+ Details

REVENUE - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
REVENUE - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract asset	$ 7.3		$ 7.3		$ 6.4
Contract liability	1.1		1.1		$ 0.7
Revenue recognized from prior period	0.1	$ 0.1	$ 0.7	$ 0.6
Estimated variable consideration, increase in revenue	$ 0.1	$ 0.3

CASH AND RESTRICTED CASH (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 203,164	$ 169,932
Restricted cash and cash equivalents	83	117
Total cash, cash equivalents, restricted cash and restricted cash equivalents	$ 203,247	$ 170,049	$ 101,858	$ 60,339

ALLOWANCE FOR DOUBTFUL ACCOUNTS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of the period	$ 1,429	$ 2,021	$ 1,402	$ 1,466
Charges to earnings	629	69	1,145	949
Write-off of uncollectible accounts receivable	(585)	(337)	(1,079)	(669)
Recoveries collected	0	3	5	10
Balance, end of the period	$ 1,473	$ 1,756	$ 1,473	$ 1,756

GOODWILL AND INTANGIBLE ASSETS- Schedule of balance of intangible assets, net (Details ) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 903,227	$ 903,227
Accumulated impairment losses	(483,088)	(483,088)
Net goodwill	420,139	420,139
Intangible assets with indefinite lives	10,142	10,142
Intangible assets with definite lives, net	95,738	118,360
Total intangible assets, net	$ 105,880	$ 128,502

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Intangible assets with definite lives
Goodwill	$ 903,227	$ 903,227
Home
Intangible assets with definite lives
Goodwill	59,300	59,300
Consumer
Intangible assets with definite lives
Goodwill	166,100	166,100
Insurance
Intangible assets with definite lives
Goodwill	$ 194,700	$ 194,700

GOODWILL AND INTANGIBLE ASSETS - Schedule of intangible assets with definite lives (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Intangible assets with definite lives
Cost	$ 225,200	$ 225,400
Accumulated Amortization	(129,462)	(107,040)
Total intangible assets with definite lives, net	95,738	118,360
Technology
Intangible assets with definite lives
Cost	87,700	87,700
Accumulated Amortization	(58,768)	(48,166)
Total intangible assets with definite lives, net	28,932	39,534
Customer lists
Intangible assets with definite lives
Cost	77,300	77,300
Accumulated Amortization	(21,614)	(18,560)
Total intangible assets with definite lives, net	55,686	58,740
Trademarks and tradenames
Intangible assets with definite lives
Cost	17,000	17,200
Accumulated Amortization	(11,513)	(9,947)
Total intangible assets with definite lives, net	5,487	7,253
Website content
Intangible assets with definite lives
Cost	43,200	43,200
Accumulated Amortization	(37,567)	(30,367)
Total intangible assets with definite lives, net	$ 5,633	$ 12,833

GOODWILL AND INTANGIBLE ASSETS - Schedule of amortization of intangible assets with definite lives for the next five years (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Amortization of intangible assets with definite lives computed on a straight-line basis
Remainder of current year	$ 20,116
2022	25,256
2023	8,602
2024	6,747
2025	6,259
Thereafter	28,758
Total intangible assets with definite lives, net	$ 95,738	$ 118,360

EQUITY INVESTMENT (Details) - USD ($)	6 Months Ended
EQUITY INVESTMENT (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jan. 06, 2021	Feb. 28, 2020
Schedule of Equity Method Investments [Line Items]
Unrealized gain on investments	$ 40,072,000	$ 0
Stash
Schedule of Equity Method Investments [Line Items]
Equity investment, aggregate cost			$ 1,200,000	$ 80,000,000.0
Unrealized gain on investments	40,100,000
Equity investment, cumulative impairment loss	$ 0

BUSINESS ACQUISITIONS (Details) - USD ($)	3 Months Ended		6 Months Ended
BUSINESS ACQUISITIONS (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Business Acquisition [Line Items]
Change in fair value of contingent consideration	$ (8,850,000)	$ 9,175,000	$ (8,053,000)	$ 1,053,000
Current contingent consideration	196,000		196,000		$ 0
QuoteWizard
Business Acquisition [Line Items]
Change in fair value of contingent consideration	(8,850,000)	8,058,000	(8,053,000)	(204,000)
Current contingent consideration	200,000		200,000
Ovation
Business Acquisition [Line Items]
Change in fair value of contingent consideration	0	1,039,000	0	1,180,000
SnapCap
Business Acquisition [Line Items]
Change in fair value of contingent consideration	0	$ 78,000	0	$ 77,000
Minimum
Business Acquisition [Line Items]
Contingent consideration	0		0
Maximum
Business Acquisition [Line Items]
Contingent consideration	$ 23,400,000		$ 23,400,000

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accrued expenses and other current liabilities
Accrued advertising expense	$ 62,840	$ 54,045
Accrued compensation and benefits	10,632	14,081
Accrued professional fees	3,278	1,869
Customer deposits and escrows	7,467	8,153
Contribution to LendingTree Foundation	3,333	3,333
Current lease liabilities	5,286	5,375
Other	13,540	14,340
Total accrued expenses and other current liabilities	$ 106,376	$ 101,196

SHAREHOLDERS' EQUITY (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jul. 24, 2020	Feb. 28, 2019	Feb. 28, 2018
Calculation of weighted average common shares
Weighted average common shares, basic	13,243	12,984	13,157	12,971
Effect of dilutive securities
Effect of stock options (in shares)	394	0	523	592
Effect of dilutive share awards (in shares)	72	0	103	91
Effect of Convertible Senior Notes (in shares)	10	0	130	300
Weighted average common shares, diluted	13,719	12,984	13,913	13,954
Antidilutive securities excluded from computation of earnings per share (in shares)		800
Common stock repurchases
Value of common stock authorized to be repurchased						$ 150.0	$ 100.0
Remaining authorized repurchase amount	$ 179.7		$ 179.7
2025 Convertible Notes \| Convertible Debt
Effect of dilutive securities
Stated interest rate					0.50%
Option
Effect of dilutive securities
Antidilutive securities excluded from computation of earnings per share (in shares)	900	700	400	200
Restricted Stock Units (RSUs)
Effect of dilutive securities
Antidilutive securities excluded from computation of earnings per share (in shares)	200	100

STOCK-BASED COMPENSATION - Schedule of non-cash compensation expense related to equity awards (Details ) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Non-cash compensation expense related to equity awards
Total non-cash compensation	$ 18,294	$ 13,158	$ 34,730	$ 25,075
Cost of revenue
Non-cash compensation expense related to equity awards
Total non-cash compensation	463	333	860	575
Selling and marketing expense
Non-cash compensation expense related to equity awards
Total non-cash compensation	1,976	1,597	3,778	2,753
General and administrative expense
Non-cash compensation expense related to equity awards
Total non-cash compensation	13,254	9,729	25,425	18,852
Product development
Non-cash compensation expense related to equity awards
Total non-cash compensation	$ 2,601	$ 1,499	$ 4,667	$ 2,895

STOCK-BASED COMPENSATION - Summary of stock options and stock options with market conditions (Details)	6 Months Ended
	Jun. 30, 2021 USD ($) $ / shares shares
Stock options, Grant Date Fair Value Valuation
Share price (in dollars per share) \| $ / shares	$ 211.88
Grant date fair value (in dollars per share) \| $ / shares	$ 130.25
Option
Stock options, Shares
Outstanding at the beginning of the period (in shares) \| shares	924,710
Granted (in shares) \| shares	69,258
Exercised (in shares) \| shares	(156,113)
Forfeited (in shares) \| shares	(4,727)
Expired (in shares) \| shares	(35)
Outstanding at the end of the period (in shares) \| shares	833,093
Options exercisable at the end of the period (in shares) \| shares	543,666
Stock options, Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share) \| $ / shares	$ 111.82
Granted (in dollars per share) \| $ / shares	243.71
Exercised (in dollars per share) \| $ / shares	7.17
Forfeited (in dollars per share) \| $ / shares	263.72
Expired (in dollars per share) \| $ / shares	371.25
Outstanding at the end of the period (in dollars per share) \| $ / shares	141.52
Options exercisable at the end of the period (in dollars per share) \| $ / shares	$ 71.06
Stock options, Weighted Average Remaining Contractual Term
Outstanding at the end of the period	5 years 2 months 12 days
Options exercisable at the end of the period	3 years 2 months 12 days
Stock options, Aggregate Intrinsic Value
Outstanding at the end of the period \| $	$ 82,110,000
Options exercisable at the end of the period \| $	$ 82,039,000
Stock options, Grant Date Fair Value Valuation
Expected dividend rate	0.00%
Expected dividends \| $	$ 0
Option \| Vesting period one
Stock options, Grant Date Fair Value Valuation
Vesting period	1 year
Option \| Vesting period two
Stock options, Grant Date Fair Value Valuation
Vesting period	3 years
Option \| Minimum
Stock options, Grant Date Fair Value Valuation
Expected term	5 years
Risk-free interest rate	0.59%
Expected volatility rate	53.00%
Option \| Maximum
Stock options, Grant Date Fair Value Valuation
Expected term	6 years
Risk-free interest rate	1.07%
Expected volatility rate	59.00%
Market options
Stock options, Shares
Outstanding at the beginning of the period (in shares) \| shares	700,209
Granted (in shares) \| shares	0
Exercised (in shares) \| shares	0
Forfeited (in shares) \| shares	0
Expired (in shares) \| shares	0
Outstanding at the end of the period (in shares) \| shares	700,209
Options exercisable at the end of the period (in shares) \| shares	0
Stock options, Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share) \| $ / shares	$ 236.01
Granted (in dollars per share) \| $ / shares	0
Exercised (in dollars per share) \| $ / shares	0
Forfeited (in dollars per share) \| $ / shares	0
Expired (in dollars per share) \| $ / shares	0
Outstanding at the end of the period (in dollars per share) \| $ / shares	236.01
Options exercisable at the end of the period (in dollars per share) \| $ / shares	$ 0
Stock options, Weighted Average Remaining Contractual Term
Outstanding at the end of the period	7 years 3 months
Options exercisable at the end of the period	0 years
Stock options, Aggregate Intrinsic Value
Outstanding at the end of the period \| $	$ 11,308,000
Options exercisable at the end of the period \| $	$ 0
Stock options, Grant Date Fair Value Valuation
Maximum number of shared to be earned \| shares	1,169,349
Percentage of target number of shares	167.00%
Performance awards earned (in shares) \| shares	481,669

STOCK-BASED COMPENSATION - Summary of RSA & RSU (Details)	6 Months Ended
	Jun. 30, 2021 $ / shares shares
Restricted Stock Units (RSUs)
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Number of Shares
Nonvested at the beginning of the period (in shares)	194,686
Granted (in shares)	149,259
Vested (in shares)	(54,644)
Forfeited (in shares)	(20,735)
Nonvested at the end of the period (in shares)	268,566
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share) \| $ / shares	$ 289.82
Granted (in dollars per share) \| $ / shares	245.00
Vested (in dollars per share) \| $ / shares	290.38
Forfeited (in dollars per share) \| $ / shares	269.88
Nonvested at the end of the period (in dollars per share) \| $ / shares	$ 266.34
Restricted Stock Units with performance conditions
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Number of Shares
Nonvested at the beginning of the period (in shares)	6,328
Granted (in shares)	0
Vested (in shares)	0
Forfeited (in shares)	0
Nonvested at the end of the period (in shares)	6,328
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share) \| $ / shares	$ 223.90
Granted (in dollars per share) \| $ / shares	0
Vested (in dollars per share) \| $ / shares	0
Forfeited (in dollars per share) \| $ / shares	0
Nonvested at the end of the period (in dollars per share) \| $ / shares	$ 223.90
Restricted Stock with performance conditions
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Number of Shares
Nonvested at the beginning of the period (in shares)	23,804
Granted (in shares)	0
Vested (in shares)	(11,902)
Forfeited (in shares)	0
Nonvested at the end of the period (in shares)	11,902
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share) \| $ / shares	$ 340.25
Granted (in dollars per share) \| $ / shares	0
Vested (in dollars per share) \| $ / shares	340.25
Forfeited (in dollars per share) \| $ / shares	0
Nonvested at the end of the period (in dollars per share) \| $ / shares	$ 340.25
Restricted Stock with market conditions
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, 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
Nonvested RSUs, Restricted Stock and Restricted Stock Units with Performance Conditions, Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share) \| $ / shares	$ 340.25
Granted (in dollars per share) \| $ / shares	0
Vested (in dollars per share) \| $ / shares	0
Forfeited (in dollars per share) \| $ / shares	0
Nonvested at the end of the period (in dollars per share) \| $ / shares	$ 340.25
Maximum number of shared to be earned	44,545
Percentage of target number of shares	167.00%
Performance awards earned (in shares)	29,601

INCOME TAXES - Additional information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income tax benefit	$ 9,092	$ 3,880	$ 454	$ 6,941
Effective tax rate	(1284.20%)	31.00%	(1.60%)	(203.00%)
Federal statutory income tax rate			21.00%	21.00%
Excess tax benefit on stock compensation	$ 8,261	$ 753	$ 8,293	$ 1,807
Income tax benefit from CARES Act	$ 0	$ 0	$ 0	$ 6,104

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

INCOME TAXES - Reconciliation of income tax (expense) benefit (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income tax benefit (expense) - excluding excess tax benefit on stock compensation and CARES Act	$ 831	$ 3,127	$ (7,839)	$ (970)
Excess tax benefit on stock compensation	8,261	753	8,293	1,807
Income tax benefit from CARES Act	0	0	0	6,104
Income tax benefit	$ 9,092	$ 3,880	$ 454	$ 6,941

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

DEBT - Convertible Senior Notes Narrative (Details)			3 Months Ended	6 Months Ended
DEBT - Convertible Senior Notes Narrative (Details)	Jul. 24, 2020 USD ($) day $ / shares Rate shares	May 31, 2017 day segment Rate shares	Sep. 30, 2020 USD ($)	Jun. 30, 2021 USD ($) day segment Rate	Jun. 30, 2020 USD ($)	Dec. 31, 2020 USD ($)	May 31, 2017 USD ($)	May 31, 2017 $ / shares	May 31, 2017	May 31, 2017 Rate
Debt Instrument [Line Items]
Amortization of convertible debt discount				$ 14,670,000	$ 6,250,000
Amortization of debt issuance costs				2,547,000	1,158,000
2025 Convertible Notes
Debt Instrument [Line Items]
Initial conversion rate, shares per $1,000 principal amount of notes \| shares	2.1683
Initial conversion price per share (in dollars per share) \| $ / shares	$ 461.19
Cash repurchase at a price equal to the principal amount of the notes, percentage \| Rate	100.00%
Nonconvertible debt borrowing rate at the date of issuance \| Rate	5.30%
Debt component of the principal amount	$ 455,600,000
Equity component of the principal amount	119,400,000
Financing costs	15,100,000
Debt issuance costs	12,000,000.0			9,958,000		$ 11,056,000
Debt issuance costs, equity component	$ 3,100,000
Interest expense				13,500,000
Interest expense recognized associated with the coupon rate				$ 1,400,000
Annual interest rate on convertible senior notes				0.50%
Amortization of convertible debt discount				$ 11,000,000.0
Amortization of debt issuance costs				1,100,000
Gross carrying amount				$ 575,000,000		575,000,000
2025 Convertible Notes \| Conversion option one
Debt Instrument [Line Items]
Threshold trading days \| day	20
Threshold consecutive trading days \| day	30			30
Conversion rate, sales price of common stock as a percentage of the conversion price \| Rate	130.00%			130.00%
2025 Convertible Notes \| Conversion option two
Debt Instrument [Line Items]
Threshold trading days \| day	5
Threshold consecutive trading days \| day	5
Conversion rate \| Rate	98.00%
2022 Convertible Notes
Debt Instrument [Line Items]
Initial conversion rate, shares per $1,000 principal amount of notes \| shares		4.8163
Initial conversion price per share (in dollars per share) \| $ / shares								$ 207.63
Cash repurchase at a price equal to the principal amount of the notes, percentage \| Rate		100.00%
Nonconvertible debt borrowing rate at the date of issuance									5.36%
Debt component of the principal amount							$ 238,400,000
Equity component of the principal amount							61,600,000
Financing costs							9,300,000
Debt issuance costs				$ 850,000		1,297,000	7,400,000
Debt issuance costs, equity component							1,900,000
Interest expense				4,700,000	7,900,000
Interest expense recognized associated with the coupon rate				500,000	900,000
Annual interest rate on convertible senior notes									0.625%	0.625%
Amortization of convertible debt discount				3,800,000	6,300,000
Amortization of debt issuance costs				400,000	$ 700,000
Fair value				208,700,000
Gross carrying amount				$ 169,659,000		$ 169,690,000	$ 300,000,000.0
Repayments of convertible debt	$ 234,000,000.0
Debt repurchase amount	130,300,000
Debt repurchased amount, accrued interest	100,000
Extinguishment of debt	126,000,000.0
Reduction to additional paid-in capital, reacquisition of equity component	107,900,000
Loss on extinguishment of debt			$ 7,800,000
2022 Convertible Notes \| Conversion option one
Debt Instrument [Line Items]
Threshold trading days \| day		20		20
Threshold consecutive trading days \| segment		30		30
Conversion rate, sales price of common stock as a percentage of the conversion price \| Rate		130.00%
2022 Convertible Notes \| Conversion option two
Debt Instrument [Line Items]
Threshold trading days \| day		5
Threshold consecutive trading days \| day		5
Conversion rate \| Rate		98.00%
Convertible Debt \| 2025 Convertible Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 575,000,000.0
Stated interest rate	0.50%
Fair value				$ 520,400,000
Convertible Debt \| 2025 Notes Under 13-day Purchase Option
Debt Instrument [Line Items]
Aggregate principal amount	$ 75,000,000.0
Convertible Debt \| 2022 Convertible Notes
Debt Instrument [Line Items]
Stated interest rate									0.625%

DEBT - Components of Notes (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jul. 24, 2020	May 31, 2017
Debt Instrument [Line Items]
Net carrying amount	$ 465,876	$ 611,412
2025 Convertible Notes
Debt Instrument [Line Items]
Gross carrying amount	575,000	575,000
Unamortized debt discount	99,166	110,110
Debt issuance costs	9,958	11,056	$ 12,000
Net carrying amount	465,876	453,834
2022 Convertible Notes
Debt Instrument [Line Items]
Gross carrying amount	169,659	169,690		$ 300,000
Unamortized debt discount	7,086	10,815
Debt issuance costs	850	1,297		$ 7,400
Net carrying amount	$ 161,723	$ 157,578

DEBT - Convertible Note Hedge and Warrant Transactions (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions			6 Months Ended
	Jul. 24, 2020	May 31, 2017	Jun. 30, 2021	Jul. 21, 2020	May 24, 2017
Debt Instrument [Line Items]
Share price (in dollars per share)			$ 211.88
Termination of convertible note hedge on the 0.625% Convertible Senior Notes			$ 109.9
Payments for repurchase of warrants			$ 94.3
2020 Hedge and Warrants
Debt Instrument [Line Items]
Net proceeds from debt used to pay for the cost of the hedge	$ 63.0
Payment of convertible note hedge transactions	$ 124.2
Number of shares covered by the hedge transactions	1.2
Initial conversion price per share (in dollars per share)	$ 461.19
Strike price of warrants sold (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 the sale of warrants related to the Convertible Senior Notes	$ 61.2
2017 Hedge and Warrants
Debt Instrument [Line Items]
Net proceeds from debt used to pay for the cost of the hedge		$ 18.1
Payment of convertible note hedge transactions		$ 61.5
Number of shares covered by the hedge transactions	0.8	1.4
Initial conversion price per share (in dollars per share)		$ 207.63
Strike price of warrants sold (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 the sale of warrants related to the Convertible Senior Notes		$ 43.4
Proceeds from hedge and warrants	$ 15.6

DEBT - Revolving Credit Facility (Details)				6 Months Ended
DEBT - Revolving Credit Facility (Details)	Jul. 21, 2020 USD ($)	Dec. 10, 2019 USD ($)	Oct. 26, 2018 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Dec. 31, 2020 USD ($)
Line of Credit Facility [Line Items]
Potential additional borrowing capacity		$ 185,000,000.0
Letters of credit outstanding				$ 200,000		$ 200,000
Ratio of Debt to EBITDA Step-Down		4.0
Ratio of Debt to EBITDA Increase		0.5
Unused commitment fees				1,300,000	$ 500,000
Amortization of debt issuance costs				2,547,000	1,158,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 500,000,000.0	$ 350,000,000.0
Debt term		5 years	5 years
Line of credit outstanding				0		$ 0
Collateral, percent of domestic subsidiaries equity		100.00%
Collateral, percent of voting equity		66.00%
Collateral, percent of non-voting equity		100.00%
Collateral, percent of assets		100.00%
Collateral, percent of equity		100.00%
Letter of credit fronting fee percentage		0.125%
Fees and expense paid to lenders at closing	$ 1,100,000		$ 2,800,000
Swingline Facility
Line of Credit Facility [Line Items]
Covenant amount		$ 10,000,000.0
Letters of Credit
Line of Credit Facility [Line Items]
Covenant amount		$ 10,000,000.0
Fed Funds Effective Rate \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.50%
LIBOR \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		1.00%
Interest expense					1,100,000
Minimum \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Unused capacity, commitment fee percentage		0.25%
Letter of credit participation fee percentage		1.25%
Minimum \| LIBOR \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		1.25%
Minimum \| Base Rate \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.25%
Maximum
Line of Credit Facility [Line Items]
Ratio of Debt to EBITDA to Increase Revolving Commitment		2.50
Ratio of Debt to EBITDA		4.5
Maximum \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Unused capacity, commitment fee percentage		0.45%
Letter of credit participation fee percentage		2.00%
Maximum \| LIBOR \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		2.00%
Maximum \| Base Rate \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		1.00%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest expense				2,300,000	2,100,000
Amortization of debt issuance costs				$ 1,000,000.0	$ 500,000
Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Covenant amount	$ 200,000,000.0
Floor interest rate	0.75%
Unused capacity, commitment fee percentage	0.50%
Line of Credit \| LIBOR \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.25%
Line of Credit \| Base Rate \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.25%

CONTINGENCIES (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Contingencies
Accrued litigation liability	$ 1.0	$ 0.1
Discontinued Operations, Disposed of by Sale
Contingencies
Accrued litigation liability	$ 4.9	$ 0.5

FAIR VALUE MEASUREMENTS - Additional information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 9,046,000	$ 22,342,000	$ 8,249,000	$ 33,464,000
Change in fair value of contingent consideration	(8,850,000)	9,175,000	(8,053,000)	1,053,000
Contingent consideration additions	0	0	0	0
Contingent consideration payments	0	(3,000,000)	0	(6,000,000)
Ending balance	196,000	$ 28,517,000	196,000	$ 28,517,000
Minimum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration	0		0
Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration	$ 23,400,000		$ 23,400,000

FAIR VALUE MEASUREMENTS - Schedule of fair value measurement valuation (Details) - Level 3 $ in Thousands	Jun. 30, 2021 USD ($)
Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration	$ 196
Option pricing model \| Weighted average \| Operating results growth rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, measurement input	(0.214)
Option pricing model \| Weighted average \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration, measurement input	0.031

SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended		6 Months Ended
SEGMENT INFORMATION (Details) $ in Thousands	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2021 USD ($) segment	Jun. 30, 2020 USD ($)
Segment Information
Number of operating segments \| segment			3
Number of reportable segments \| segment			3
Revenue	$ 270,014	$ 184,326	$ 542,764	$ 467,410
Segment marketing expense	164,414	95,995	340,817	269,864
Segment profit (loss)	105,600	88,331	201,947	197,546
Cost of revenue	13,934	13,464	27,829	26,630
Brand and other marketing expense	20,792	17,926	41,851	40,681
General and administrative expense	39,811	28,489	74,800	60,571
Product development	13,290	10,812	25,758	21,775
Depreciation	4,443	3,550	8,161	6,928
Amortization of intangibles	11,310	13,756	22,622	27,513
Change in fair value of contingent consideration	(8,850)	9,175	(8,053)	1,053
Severance		32		190
Litigation settlements and contingencies	322	(1,325)	338	(996)
Operating income (loss)	10,548	(7,548)	8,641	13,201
Interest expense, net	(9,840)	(4,955)	(20,055)	(9,789)
Other income	0	7	40,072	7
Income (loss) before income taxes	708	(12,496)	28,658	3,419
Home
Segment Information
Revenue	104,861	74,123	232,986	153,297
Segment marketing expense	65,844	35,397	154,979	78,660
Segment profit (loss)	39,017	38,726	78,007	74,637
Consumer
Segment Information
Revenue	75,676	37,118	133,583	157,042
Segment marketing expense	42,282	17,716	75,582	94,541
Segment profit (loss)	33,394	19,402	58,001	62,501
Insurance
Segment Information
Revenue	89,263	72,919	175,877	155,656
Segment marketing expense	56,025	42,797	109,797	95,001
Segment profit (loss)	33,238	30,122	66,080	60,655
Other
Segment Information
Revenue	214	166	318	1,415
Segment marketing expense	263	85	459	1,662
Segment profit (loss)	$ (49)	$ 81	$ (141)	$ (247)

DISCONTINUED OPERATIONS - Narrative (Details) $ in Thousands					1 Months Ended				3 Months Ended				12 Months Ended
	Jun. 17, 2020 USD ($)	Jun. 11, 2020 USD ($)	Dec. 04, 2019 USD ($)	Jun. 21, 2019 USD ($)	Jul. 31, 2020 USD ($)	Feb. 29, 2016 defendant	Jan. 31, 2016 USD ($)	Dec. 31, 2013 network_lender	Jun. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)	Jul. 24, 2020	Jul. 21, 2019 USD ($)	May 31, 2017	Jun. 06, 2012 USD ($)
Loan Loss Obligations
Assets									$ 1,266,637	$ 1,188,990
2025 Convertible Notes \| Convertible Debt
Loan Loss Obligations
Stated interest rate														0.50%
2022 Convertible Notes \| Convertible Debt
Loan Loss Obligations
Stated interest rate																0.625%
Home Loan Center, Inc.
Loan Loss Obligations
Assets															$ 11,200
Cash															$ 5,900
Dividends							$ 40,000
Discover Bank \| Lending Tree Loans
Loan Loss Obligations
Asset purchase agreement proceeds from sale																	$ 55,900
Residential Funding Co. v Home Loan Center \| Pending litigation or appeal
Loan Loss Obligations
Number of loan originators \| network_lender								80
Residential Funding Co. v Home Loan Center \| Judicial Ruling
Loan Loss Obligations
Settlement offer				$ 68,500
Residential Funding Co. v Home Loan Center \| Settled \| ResCap \| Damages
Loan Loss Obligations
Settlement offer	$ 58,500
Loss contingency settlement payment										$ 6,400	$ 26,500
Loss contingency, refund received									$ 8,600
Lehman Brothers Holdings, Inc. Demand Letter
Loan Loss Obligations
Damages sought			$ 44,700
Lehman Brothers Holdings, Inc. Demand Letter \| Pending litigation or appeal
Loan Loss Obligations
Number of defendants \| defendant						149
Lehman Brothers Holdings Inc. v. LendingTree, LLC
Loan Loss Obligations
Damages sought		$ 13,300
Discontinued Operations, Disposed of by Means Other than Sale \| Home Loan Center, Inc.
Loan Loss Obligations
Loss recognized													$ 5,500
Net gain on disposal													4,500
Recognition of liability													$ 10,000
Discontinued Operations, Disposed of by Means Other than Sale \| Obligation to Repurchase Receivables Sold \| Lending Tree Loans
Loan Loss Obligations
Loss contingency settlement payment					$ 36,000
Discontinued Operations, Disposed of by Means Other than Sale \| Pending litigation or appeal \| Obligation to Repurchase Receivables Sold \| Lending Tree Loans \| Discontinued Operations
Loan Loss Obligations
Settlement offer												$ 36,000

DISCONTINUED OPERATIONS - Schedule of discontinued operations financial information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue and net income (loss) of discontinued operations
Revenue	$ 0	$ 0	$ 0	$ 0
Loss before income taxes	(4,261)	(28,424)	(4,614)	(34,526)
Income tax benefit	1,062	7,283	1,152	8,810
Net loss	$ (3,199)	$ (21,141)	$ (3,462)	$ (25,716)

- 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

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+ 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