Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2019	Oct. 21, 2019
Cover page.
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, $0.01 par value per share
Entity Address, Address Line One	11115 Rushmore Drive
Entity Incorporation, State or Country Code	DE
Entity File Number	001-34063
Document Quarterly Report	true
Document Transition Report	false
Entity Registrant Name	LendingTree, Inc.
Entity Central Index Key	0001434621
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		12,999,152
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Tax Identification Number	26-2414818
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28277
City Area Code	704
Local Phone Number	541-5351
Trading Symbol	TREE
Security Exchange Name	NASDAQ

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue	$ 310,605	$ 197,057	$ 851,416	$ 562,193
Costs and expenses:
Cost of revenue (exclusive of depreciation and amortization shown separately below)	17,671	10,838	51,651	22,577
Selling and marketing expense	200,818	124,400	567,338	374,390
General and administrative expense	30,323	22,980	89,391	70,553
Product development	10,200	6,608	30,541	18,835
Depreciation	2,696	1,895	7,737	5,199
Amortization of intangibles	13,778	5,701	41,485	13,628
Change in fair value of contingent consideration	3,839	2,105	21,221	1,197
Severance	179	2,328	636	2,331
Litigation settlements and contingencies	(92)	(88)	(291)	(280)
Total costs and expenses	279,412	176,767	809,709	508,430
Operating income	31,193	20,290	41,707	53,763
Other (expense) income, net:
Interest expense, net	(4,845)	(2,393)	(15,408)	(8,305)
Other income (expense)	4	(69)	143	(106)
Income before income taxes	26,352	17,828	26,442	45,352
Income tax (expense) benefit	(1,889)	10,534	11,552	63,716
Net income from continuing operations	24,463	28,362	37,994	109,068
Loss from discontinued operations, net of tax	(20,199)	(2,634)	(22,024)	(9,269)
Net income and comprehensive income	$ 4,264	$ 25,728	$ 15,970	$ 99,799
Weighted average shares outstanding:
Basic	12,890	12,799	12,805	12,437
Diluted	14,632	13,850	14,629	14,299
Income per share from continuing operations:
Basic (in dollars per share)	$ 1.90	$ 2.22	$ 2.97	$ 8.77
Diluted (in dollars per share)	1.67	2.05	2.60	7.63
Loss per share from discontinued operations:
Basic (in dollars per share)	(1.57)	(0.21)	(1.72)	(0.75)
Diluted (in dollars per share)	(1.38)	(0.19)	(1.51)	(0.65)
Net income per share:
Basic (in dollars per share)	0.33	2.01	1.25	8.02
Diluted (in dollars per share)	$ 0.29	$ 1.86	$ 1.09	$ 6.98

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS:
Cash and cash equivalents	$ 50,497	$ 105,102
Restricted cash and cash equivalents	259	56
Accounts receivable (net of allowance of $1,823 and $1,143, respectively)	140,843	91,072
Prepaid and other current assets	12,914	16,428
Assets held for sale	0	21,328
Current assets of discontinued operations	0	185
Total current assets	204,513	234,171
Property and equipment (net of accumulated depreciation of $16,068 and $13,887, respectively)	31,192	23,175
Goodwill	419,935	348,347
Intangible assets, net	195,337	205,699
Deferred income tax assets	90,983	79,289
Other non-current assets	29,278	2,168
Non-current assets of discontinued operations	7,953	3,266
Total assets	979,191	896,115
LIABILITIES:
Revolving credit facility	85,000	125,000
Accounts payable, trade	19,492	15,074
Accrued expenses and other current liabilities	109,618	93,190
Current contingent consideration	32,955	11,080
Current liabilities of discontinued operations	31,721	17,609
Total current liabilities	278,786	261,953
Long-term debt	260,973	250,943
Non-current contingent consideration	21,103	27,757
Deferred income tax liabilities	711	894
Other non-current liabilities	28,354	8,360
Total liabilities	589,927	549,907
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; 15,635,268 and 15,428,351 shares issued, respectively, and 12,998,101 and 12,809,764 shares outstanding, respectively	156	154
Additional paid-in capital	1,165,597	1,134,227
Accumulated deficit	(594,512)	(610,482)
Treasury stock; 2,637,167 and 2,618,587 shares, respectively	(181,977)	(177,691)
Total shareholders' equity	389,264	346,208
Total liabilities and shareholders' equity	979,191	896,115
Common Stock
SHAREHOLDERS' EQUITY:
Total shareholders' equity	156	154
Additional Paid-in Capital
SHAREHOLDERS' EQUITY:
Total shareholders' equity	1,165,597	1,134,227
Accumulated Deficit
SHAREHOLDERS' EQUITY:
Total shareholders' equity	(594,512)	(610,482)
Treasury Stock
SHAREHOLDERS' EQUITY:
Total shareholders' equity	$ (181,977)	$ (177,691)

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Accounts receivable, allowance (in dollars)	$ 1,823	$ 1,143
Accumulated depreciation of property and equipment	$ 16,068	$ 13,887
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares	5,000,000	5,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares	50,000,000	50,000,000
Common stock, issued shares	15,635,268	15,428,351
Common stock, outstanding shares	12,998,101	12,809,764
Treasury stock, shares	2,637,167	2,618,587

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Treasury Stock	Comprehensive Income (Loss)	Noncontrolling interest
Balance at Dec. 31, 2017	$ 294,874	$ 142	$ 1,087,582	$ (708,354)	$ (85,085)		$ 589
Balance (in shares) at Dec. 31, 2017		14,218,000			2,239,000
Increase (Decrease) in Stockholders' Equity
Net (loss) income and comprehensive (loss) income				31,524		$ 31,524
Non-cash compensation	11,109		11,109
Purchase of treasury stock	(11,000)				$ (11,000)
Purchase of treasury stock (in shares)					30,000
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	2,057	$ 5	2,052
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes (in shares)		473,000
Cumulative effect adjustment due to ASU 2014-09	1,373			1,373
Noncontrolling interest	(34)						(34)
Balance at Mar. 31, 2018	329,903	$ 147	1,100,743	(675,457)	$ (96,085)		555
Balance (in shares) at Mar. 31, 2018		14,691,000			2,269,000
Balance at Dec. 31, 2017	294,874	$ 142	1,087,582	(708,354)	$ (85,085)		589
Balance (in shares) at Dec. 31, 2017		14,218,000			2,239,000
Increase (Decrease) in Stockholders' Equity
Net (loss) income and comprehensive (loss) income	99,799
Purchase of treasury stock	$ (57,200)
Purchase of treasury stock (in shares)	205,310
Balance at Sep. 30, 2018	$ 376,466	$ 154	1,125,185	(607,182)	$ (142,268)		577
Balance (in shares) at Sep. 30, 2018		15,390,000			2,444,000
Balance at Mar. 31, 2018	329,903	$ 147	1,100,743	(675,457)	$ (96,085)		555
Balance (in shares) at Mar. 31, 2018		14,691,000			2,269,000
Increase (Decrease) in Stockholders' Equity
Net (loss) income and comprehensive (loss) income				42,547		42,547
Non-cash compensation	11,178		11,178
Purchase of treasury stock	(35,003)				$ (35,003)
Purchase of treasury stock (in shares)					127,000
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	(1,225)	$ 4	(1,229)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes (in shares)		447,000
Issuance of 0.625% Convertible Senior Notes, net	(4)		(4)
Noncontrolling interest	32						32
Balance at Jun. 30, 2018	347,428	$ 151	1,110,688	(632,910)	$ (131,088)		587
Balance (in shares) at Jun. 30, 2018		15,138,000			2,396,000
Increase (Decrease) in Stockholders' Equity
Net (loss) income and comprehensive (loss) income	25,728			25,728		25,728
Non-cash compensation	12,097		12,097
Purchase of treasury stock	(11,180)				$ (11,180)
Purchase of treasury stock (in shares)					48,000
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	2,404	$ 3	2,401
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes (in shares)		252,000
Issuance of 0.625% Convertible Senior Notes, net	(1)		(1)
Noncontrolling interest	(10)						(10)
Balance at Sep. 30, 2018	376,466	$ 154	1,125,185	(607,182)	$ (142,268)		$ 577
Balance (in shares) at Sep. 30, 2018		15,390,000			2,444,000
Balance at Dec. 31, 2018	346,208	$ 154	1,134,227	(610,482)	$ (177,691)
Balance (in shares) at Dec. 31, 2018		15,428,000			2,618,000
Increase (Decrease) in Stockholders' Equity
Net (loss) income and comprehensive (loss) income				(512)		(512)
Non-cash compensation	14,053		14,053
Purchase of treasury stock	(3,976)				$ (3,976)
Purchase of treasury stock (in shares)					18,000
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	(3,585)	$ 1	(3,586)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes (in shares)		87,000
Balance at Mar. 31, 2019	352,188	$ 155	1,144,694	(610,994)	$ (181,667)
Balance (in shares) at Mar. 31, 2019		15,515,000			2,636,000
Balance at Dec. 31, 2018	346,208	$ 154	1,134,227	(610,482)	$ (177,691)
Balance (in shares) at Dec. 31, 2018		15,428,000			2,618,000
Increase (Decrease) in Stockholders' Equity
Net (loss) income and comprehensive (loss) income	15,970
Purchase of treasury stock	$ (4,300)
Purchase of treasury stock (in shares)	18,580
Balance at Sep. 30, 2019	$ 389,264	$ 156	1,165,597	(594,512)	$ (181,977)
Balance (in shares) at Sep. 30, 2019		15,635,000			2,637,000
Balance at Mar. 31, 2019	352,188	$ 155	1,144,694	(610,994)	$ (181,667)
Balance (in shares) at Mar. 31, 2019		15,515,000			2,636,000
Increase (Decrease) in Stockholders' Equity
Net (loss) income and comprehensive (loss) income				12,218		12,218
Non-cash compensation	15,982		15,982
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	(6,501)	$ 1	(6,502)
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes (in shares)		89,000
Balance at Jun. 30, 2019	373,887	$ 156	1,154,174	(598,776)	$ (181,667)
Balance (in shares) at Jun. 30, 2019		15,604,000			2,636,000
Increase (Decrease) in Stockholders' Equity
Net (loss) income and comprehensive (loss) income	4,264			4,264		$ 4,264
Non-cash compensation	10,797		10,797
Purchase of treasury stock	(310)				$ (310)
Purchase of treasury stock (in shares)					1,000
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes	626	$ 0	626
Issuance of common stock for stock options, restricted stock awards and restricted stock units, net of withholding taxes (in shares)		31,000
Settlement of 0.625% Convertible Senior Notes	(2)		(2)
Exercise of Convertible Note Hedge	2		2
Balance at Sep. 30, 2019	$ 389,264	$ 156	$ 1,165,597	$ (594,512)	$ (181,977)
Balance (in shares) at Sep. 30, 2019		15,635,000			2,637,000

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities attributable to continuing operations:
Net income and comprehensive income	$ 15,970	$ 99,799
Less: Loss from discontinued operations, net of tax	22,024	9,269
Net income from continuing operations	37,994	109,068
Adjustments to reconcile income from continuing operations to net cash provided by operating activities attributable to continuing operations:
(Gain) loss on impairments and disposal of assets	(1,119)	1,986
Amortization of intangibles	41,485	13,628
Depreciation	7,737	5,199
Rental amortization of intangibles and depreciation	0	554
Non-cash compensation expense	40,832	34,384
Deferred income taxes	(11,532)	(64,435)
Change in fair value of contingent consideration	21,221	1,197
Bad debt expense	1,865	922
Amortization of debt issuance costs	1,463	1,308
Amortization of convertible debt discount	8,959	8,497
ROU asset amortization, offset by change in lease liabilities	302	0
Changes in current assets and liabilities:
Accounts receivable	(50,030)	(23,387)
Prepaid and other current assets	(865)	(2,970)
Accounts payable, accrued expenses and other current liabilities	11,047	(7,910)
Current contingent consideration	(3,000)	(21,900)
Income taxes receivable	4,513	4,223
Other, net	8	(137)
Net cash provided by operating activities attributable to continuing operations	110,880	60,227
Cash flows from investing activities attributable to continuing operations:
Capital expenditures	(15,151)	(10,640)
Proceeds from sale of fixed assets	24,060	0
Other investing activities	0	(12)
Net cash used in investing activities attributable to continuing operations	(96,187)	(79,793)
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	(9,459)	3,236
Contingent consideration payments	(3,000)	(26,600)
Repayments of Long-term Lines of Credit	(40,000)	0
Purchase of treasury stock	(4,286)	(57,018)
Other financing activities	(34)	(100)
Net Cash Provided by (Used in) Financing Activities	(56,779)	(80,482)
Total cash used in continuing operations	(42,086)	(100,048)
Net cash used in operating activities attributable to discontinued operations	(12,316)	(7,352)
Total cash used in discontinued operations	(12,316)	(7,352)
Net decrease in cash, cash equivalents, restricted cash and restricted cash equivalents	(54,402)	(107,400)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	105,158	372,641
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	50,756	265,241
Non-cash investing activities:
Capital additions from tenant improvement allowance	1,490	0
ValuePenguin
Cash flows from investing activities attributable to continuing operations:
Acquisition of businesses, net of cash acquired	(105,578)	0
QuoteWizard
Adjustments to reconcile income from continuing operations to net cash provided by operating activities attributable to continuing operations:
Change in fair value of contingent consideration	21,200
Cash flows from investing activities attributable to continuing operations:
Acquisition of businesses, net of cash acquired	482	0
Student Loan Hero [Member]
Cash flows from investing activities attributable to continuing operations:
Acquisition of businesses, net of cash acquired	0	(57,448)
Ovation
Adjustments to reconcile income from continuing operations to net cash provided by operating activities attributable to continuing operations:
Change in fair value of contingent consideration	(800)
Cash flows from investing activities attributable to continuing operations:
Acquisition of businesses, net of cash acquired	0	(11,683)
SnapCap
Adjustments to reconcile income from continuing operations to net cash provided by operating activities attributable to continuing operations:
Change in fair value of contingent consideration	1,800
Cash flows from investing activities attributable to continuing operations:
Acquisition of businesses	$ 0	$ (10)

ORGANIZATION (Note)	9 Months Ended
ORGANIZATION (Note)	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Company Overview LendingTree, Inc. is the parent of LendingTree, LLC and several companies owned by LendingTree, LLC (collectively, "LendingTree" or the "Company"). LendingTree operates what it believes to be the leading online consumer platform that connects consumers with the choices they need to be confident in their financial decisions. The Company offers consumers tools and resources, including free credit scores, that facilitate comparison-shopping for mortgage loans, home equity loans and lines of credit, reverse mortgage loans, auto loans, credit cards, deposit accounts, personal loans, student loans, small business loans, insurance quotes and other related offerings. The Company primarily seeks to match in-market consumers with multiple providers on its marketplace who can provide them with competing quotes for loans, deposit products, insurance or other related offerings they are seeking. The Company also serves as a valued partner to lenders and other providers seeking an efficient, scalable and flexible source of customer acquisition with directly measurable benefits, by matching the consumer inquiries it generates with these providers. The consolidated financial statements include the accounts of LendingTree and all its wholly-owned entities, except Home Loan Center, Inc. ("HLC") subsequent to its bankruptcy filing on July 21, 2019 which resulted in the Company's loss of a controlling interest in HLC under applicable accounting standards. Intercompany transactions and accounts have been eliminated. Discontinued Operations The LendingTree Loans business, which consisted of originating various consumer mortgage loans through HLC (the "LendingTree Loans Business"), is presented as discontinued operations in the accompanying consolidated balance sheets, consolidated statements of operations and comprehensive income and consolidated cash flows for all periods presented. The notes accompanying these consolidated financial statements reflect the Company's continuing operations and, unless otherwise noted, exclude information related to the discontinued operations. See Note 17—Discontinued Operations for additional information. Basis of Presentation The accompanying unaudited interim consolidated financial statements as of September 30, 2019 and for the three and nine months ended September 30, 2019 and 2018, respectively, have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). In the opinion of management, the unaudited interim consolidated financial statements have been prepared on the same basis as the audited financial statements, and include all adjustments, consisting only of normal recurring adjustments, necessary for the fair statement of the Company's financial position for the periods presented. The results for the three and nine months ended September 30, 2019 are not necessarily indicative of the results to be expected for the year ending December 31, 2019, or any other period. The accompanying consolidated balance sheet as of December 31, 2018 was derived from audited financial statements included in the Company's annual report on Form 10-K for the year ended December 31, 2018 (the "2018 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 2018 Annual Report.

SIGNIFICANT ACCOUNTING POLICIES (Note)	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Note)	Sep. 30, 2019
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: loan loss obligations; the recoverability of long-lived assets, goodwill and intangible assets; the determination of income taxes payable and deferred income taxes, including related valuation allowances; fair value of assets acquired in a business combination; contingent consideration related to business combinations; litigation accruals; HLC ownership related claims; contract assets; various other allowances, reserves and accruals; and assumptions related to the determination of stock-based compensation. Certain Risks and Concentrations LendingTree's business is subject to certain risks and concentrations including dependence on third-party technology providers, exposure to risks associated with online commerce security and credit card fraud. Financial instruments, which potentially subject the Company to concentration of credit risk at September 30, 2019, consist primarily of cash and cash equivalents and accounts receivable, as disclosed in the consolidated balance sheet. Cash and cash equivalents are in excess of Federal Deposit Insurance Corporation insurance limits, but are maintained with quality financial institutions of high credit. The Company generally 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 services. 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. Recent Accounting Pronouncements In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-15, which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This ASU is effective for annual and interim reporting periods beginning after December 15, 2019. Early adoption is permitted, including adoption in any interim period. The amendments should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company is evaluating the impact this ASU will have on its consolidated financial statements and will adopt ASU 2018-15 in the first quarter of 2020 using the prospective approach. In August 2018, the FASB issued ASU 2018-13, which removes, modifies and adds certain disclosure requirements in Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurement. This ASU is effective for annual and interim reporting periods beginning after December 15, 2019, with early adoption permitted. Entities are permitted to adopt any removed or modified disclosures and delay adoption of the additional disclosures until the effective date of the ASU. Certain amendments must be applied prospectively while others are to be applied on a retrospective basis to all periods presented. The Company is evaluating the impact this ASU will have on its consolidated financial statements and will adopt ASU 2018-13 in the first quarter of 2020. In January 2017, the FASB issued ASU 2017-04, which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge (Step 2 of the goodwill impairment test). Instead, an impairment charge will be based on the excess of the carrying amount over the fair value. This ASU is effective for annual and interim impairment tests performed in periods beginning after December 15, 2019. Early adoption is permitted for annual and interim goodwill impairment testing dates after January 1, 2017. The Company is evaluating the impact this ASU will have on its consolidated financial statements and plans to adopt ASU 2017-04 in the first quarter of 2020. In June 2016, the FASB issued ASU 2016-13, which requires entities to measure expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU introduces ASC Topic 326, Financial Instruments—Credit Losses, which replaces the existing incurred loss model and is applicable to financial assets measured at amortized cost, including trade receivables and certain other financial assets that have the contractual right to receive cash. This ASU is effective for annual and interim reporting periods beginning after December 15, 2019. Early adoption is permitted beginning after December 15, 2018, including adoption in interim periods. The guidance must be adopted using a modified retrospective transition. The Company is evaluating the impact this ASU will have on its consolidated financial statements and will adopt ASU 2016-13 in the first quarter of 2020. In February 2016, the FASB issued ASU 2016-02 related to lease accounting guidance. This ASU introduces ASC Topic 842, Leases, which supersedes ASC Topic 840, Leases. In 2018 and 2019, the FASB issued final amendments clarifying certain narrow aspects of implementing ASU 2016-02, including clarifications related to the rate implicit in the lease, lessee reassessment of lease classification, lessor reassessment of lease term and purchase options, variable payments that depend on an index or rate, transition disclosures and certain other transition matters. The clarification ASUs also provided an optional transition method that allows entities to initially apply the lease accounting transition requirements at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption without restating comparative prior periods presented. The clarification ASUs must be adopted concurrently with the adoption of ASU 2016-02 (collectively, "ASC Topic 842"). The Company has adopted ASC Topic 842 as of January 1, 2019 using the optional transition method to apply the new requirements at the adoption date without restating comparative prior periods presented. The adoption resulted in the increase in total assets and total liabilities of $8.8 million as of January 1, 2019 related to operating leases greater than one year in duration for which the Company is the lessee, with no cumulative effect adjustment to the opening balance of accumulated deficit. As part of the transition, the Company has elected the package of practical expedients, which allows the Company to not reassess whether expired or existing contracts contain leases, lease classification for expired or existing leases, and initial direct costs for existing leases. Additionally, the Company has elected an accounting policy to not record short-term leases, which are leases with an initial term of twelve months or fewer, on the balance sheet.

REVENUE (Note)

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

REVENUE

Revenue is as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Revenue:
Mortgage products	$	62,004	$	55,287	$	162,606	$	195,697
Non-mortgage products
Credit cards	54,822		42,698		165,373		127,577
Personal loans	43,873		38,569		117,513		100,744
Insurance	74,849		14		213,882		40
Other	75,057		60,489		192,042		138,135
Total non-mortgage products	248,601		141,770		688,810		366,496
Total revenue	$	310,605	$	197,057	$	851,416	$	562,193

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 within the mortgage product category 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.

In addition to match and other upfront fees, revenue within the non-mortgage product category is also generated from closing fees and approval fees. Closing fees are derived from lenders on certain auto loans, business loans, personal loans and student loans when the lender funds a loan with the consumer. Approval fees are derived from credit card issuers when the credit card consumer receives card approval from the credit card issuer. 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 business is primarily generated from match fees, 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.

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

The contract asset recorded within prepaid and other current assets on the consolidated balance sheets related to estimated variable consideration was $5.9 million and $4.8 million on September 30, 2019 and December 31, 2018, respectively.

The contract liability recorded within accrued expenses and other current liabilities on the consolidated balance sheets related to upfront fees paid by consumers in the Company's credit services business was $0.7 million and $0.4 million at September 30, 2019 and December 31, 2018, respectively. During the first nine months of 2019, the Company recognized revenue of $0.4 million that was included in the contract liability balance at December 31, 2018.

Revenue recognized in any reporting period includes estimated variable consideration for which the Company has satisfied the related performance obligations, but are still pending the occurrence or non-occurrence of a future event outside the Company's control (such as lenders providing loans to consumers or credit card approvals of consumers) before the Company has a contractual right to payment. The Company recognized an increase to such revenue from prior periods of $0.9 million in the third quarter of 2019 and a decrease to such revenue from prior periods of $0.1 million in the third quarter of 2018.

GOODWILL AND INTANGIBLE ASSETS (Note)

9 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

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



	Goodwill		Accumulated Impairment Loss			Net Goodwill
Balance at December 31, 2018	$	831,435	$	(483,088	)	$	348,347
Acquisition of Ovation	20		—			20
Acquisition of QuoteWizard	138		—			138
Acquisition of ValuePenguin	71,430		—			71,430
Balance at September 30, 2019	$	903,023	$	(483,088	)	$	419,935

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



	September 30, 2019		December 31, 2018
Intangible assets with indefinite lives	$	10,142	$	10,142
Intangible assets with definite lives, net	185,195		195,557
Total intangible assets, net	$	195,337	$	205,699

Goodwill and Indefinite-Lived Intangible Assets

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

Intangible Assets with Definite Lives

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



	Cost		Accumulated Amortization			Net
Technology	$	116,600	$	(42,244	)	$	74,356
Customer lists	79,200		(12,825		)	66,375
Trademarks and tradenames	18,042		(6,364		)	11,678
Website content	51,000		(18,217		)	32,783
Other	161		(158		)	3
Balance at September 30, 2019	$	265,003	$	(79,808	)	$	185,195



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

See Note 6—Assets Held for Sale for tenant leases classified as held for sale during 2018, which were sold to an unrelated third party in the second quarter of 2019.

Amortization of intangible assets with definite lives is computed on a straight-line basis and, based on balances as of September 30, 2019, future amortization is estimated to be as follows (in thousands):



	Amortization Expense
Remainder of current year	$	13,757
Year ending December 31, 2020	53,078
Year ending December 31, 2021	42,738
Year ending December 31, 2022	25,256
Year ending December 31, 2023	8,602
Thereafter	41,764
Total intangible assets with definite lives, net	$	185,195

ASSETS HELD FOR SALE (Notes)

9 Months Ended

Sep. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

ASSETS HELD FOR SALE

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

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

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



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

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



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

DISCONTINUED OPERATIONS

The LendingTree Loans Business is presented as discontinued operations in the accompanying financial statements. The LendingTree Loans Business originated various consumer mortgage loans through HLC. On June 6, 2012, the Company sold substantially all of the operating assets of HLC, including the LendingTree Loans Business, for $55.9 million in cash to a wholly-owned subsidiary of Discover Financial Services ("Discover"). Discover generally did not assume liabilities of HLC that arose before the closing date, except for certain liabilities directly related to assets Discover acquired. Of the purchase price received, a portion was deposited in escrow in accordance with the agreement with Discover for certain loan loss obligations that remain with HLC following the sale. During the second quarter of 2018, the remaining funds in escrow were released to HLC in accordance with the terms of the agreement with Discover.

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

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

Home Loan Center, Inc. Bankruptcy Filing

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

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

The bankruptcy filing does not include as debtors LendingTree, Inc., LendingTree, LLC or any of their respective subsidiaries engaged in continuing operations. HLC’s filing under the Bankruptcy Code creates an automatic stay of enforcement of the judgment entered against HLC by the Minnesota court in ResCap Liquidating Trust v. Home Loan Center, Inc. described in Litigation Related to Discontinued Operations below. As a result of the voluntary petition, LendingTree, LLC was, as of the initial July 21, 2019 bankruptcy petition filing date, no longer deemed to have a controlling interest in HLC under applicable accounting standards. As a result, HLC and its consolidated subsidiary were deconsolidated from the Company’s consolidated financial statements as of July 21, 2019. The effect of such deconsolidation was the elimination of the consolidated assets and liabilities of HLC (and its consolidated subsidiary) from the Company’s consolidated balance sheets. Upon deconsolidation, in the third quarter of 2019 the Company recognized a loss of $5.5 million which includes a net gain of $4.5 million related to the removal of HLC's (and its consolidated subsidiary's) assets and liabilities and the recognition of a liability of $10.0 million related to LendingTree LLC's ownership in HLC. No consideration was received by the Company as a result of the deconsolidation. The derecognition of HLC’s cash of $5.9 million removed from the consolidated balance sheet on the deconsolidation date of July 21, 2019 is included within cash flows from operating activities attributable to discontinued operations in the accompanying consolidated statement of cash flows.

In its filings with the Bankruptcy Court, HLC has indicated that it believes that it has claims against HLC’s sole shareholder, LendingTree, LLC, and its former sole director (the Company’s Chairman and Chief Executive Officer), relating to the declaration of a dividend by HLC in January 2016 of $40.0 million. The Company is obligated to advance any expenses to HLC’s former sole director related to these claims and to indemnify such former sole director to the maximum extent permitted by law. LendingTree, LLC believes the declaration of the dividends was proper, that the amounts paid to LendingTree, LLC following such declarations are not subject to recovery by HLC and that any claims by HLC relating to such dividend declarations are without merit. LendingTree, LLC intends to vigorously contest such claims. During the third quarter of 2019, LendingTree, LLC made a settlement offer to HLC for $31.0 million for the release of any and all claims against the Company, including the dividend claim. LendingTree estimates the range of potential losses related to the dividend matter to be $0.0 million to $40.0 million. An estimated liability of $31.0 million is included in the accompanying consolidated balance sheet as of September 30, 2019 related to LendingTree LLC's ownership in HLC. HLC’s voluntary petition under the Bankruptcy Code does not represent an event of default under LendingTree, LLC’s Amended and Restated Credit Agreement dated as of November 21, 2017 or the Company’s indenture dated May 31, 2017 with respect to the Company’s 0.625% Convertible Senior Notes due 2022.

Loan Loss Obligations

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

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

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

Litigation Related to Discontinued Operations

Residential Funding Company

ResCap Liquidating Trust v. Home Loan Center, Inc., Case No. 14-cv-1716 (U.S. Dist. Ct., Minn.), successor to Residential Funding Company, LLC v Home Loan Center, Inc., No. 13-cv-3451 (U.S. Dist. Ct., Minn.). On or about December 16, 2013, Home Loan Center, Inc. was served in the original captioned matter, which involves claims of Residential Funding Company, LLC ("RFC") for damages for breach of contract and indemnification for certain residential mortgage loans as well as residential mortgage-backed securitizations ("RMBS") containing mortgage loans. RFC asserts that, beginning in 2008, RFC faced massive repurchase demands and lawsuits from purchasers or insurers of the loans and RMBS that RFC had sold. RFC filed for bankruptcy protection in May 2012. Plaintiff alleges that, after RFC filed for Chapter 11 protection, hundreds of proofs of claim were filed, many of which mirrored the litigation filed against RFC prior to its bankruptcy.

In December 2013, the United States Bankruptcy Court for the Southern District of New York entered an Order confirming the Second Amended Joint Chapter 11 Plan Proposed by Residential Capital, LLC et al. and the Official Committee of Unsecured Creditors. Plaintiff then began filing substantially similar complaints against approximately 80 of the loan originators from whom RFC had purchased loans, including HLC, in federal and state courts in Minnesota and New York. In each case, plaintiff claims that the defendant is liable for a portion of the global settlement in RFC’s bankruptcy.

Plaintiff asserted two claims against HLC: (1) breach of contract based on HLC’s alleged breach of representations and warranties concerning the quality and characteristics of the mortgage loans it sold to RFC; and (2) contractual indemnification for alleged liabilities, losses, and damages incurred by RFC arising out of purported defects in loans that RFC purchased from HLC and sold to third parties. Plaintiff alleged that the “types of defects” contained in the loans it purchased from HLC included “income misrepresentation, employment misrepresentation, appraisal misrepresentations or inaccuracies, undisclosed debt, and missing or inaccurate documents.” Plaintiff sought damages of up to $61.0 million plus attorney's fees and prejudgment interest.

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

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

Lehman Brothers Holdings, Inc.

Lehman Brothers Holdings Inc. v. 1st Advantage Mortgage, LLC et al., Case No. 08-13555 (SCC), Adversary Proceeding No. 16-01342 (SCC) (Bankr. S.D.N.Y.). In February 2016, Lehman Brothers Holdings, Inc. (“LBHI”) filed an Adversary Complaint against HLC and approximately 149 other defendants (the "Complaint"). In December 2018, LBHI amended its complaint against HLC. The amended complaint references approximately 370 allegedly defective mortgage loans sold by HLC with purported "Claim Amounts" totaling $40.2 million. LBHI alleges it settled all such claims and is seeking indemnification from HLC for LBHI’s purported losses and liabilities associated with such settlements, plus prejudgment interest, attorneys’ fees, litigation costs and other expenses. The amended complaint does not specify the amount of LBHI’s purported damages. HLC believes that these claims lack merit and intends to defend this action vigorously. HLC’s filing under the Bankruptcy Code discussed above creates an automatic stay of this proceeding.

Financial Information of Discontinued Operations

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



	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Revenue	$	—		$	—		$	—		$	—

Gain from removal of HLC's assets and liabilities	4,515			—			4,515			—
Other operating expenses	(32,182		)	(3,334		)	(34,492		)	(11,733		)
Loss before income taxes	(27,667		)	(3,334		)	(29,977		)	(11,733		)
Income tax benefit	7,468			700			7,953			2,464
Net loss	$	(20,199	)	$	(2,634	)	$	(22,024	)	$	(9,269	)

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

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

BUSINESS ACQUISITION (Note)

9 Months Ended

Sep. 30, 2019

Business Combinations [Abstract]

BUSINESS ACQUISITION

BUSINESS ACQUISITIONS

2019 Acquisition

ValuePenguin

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

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



	Preliminary Fair Value
Net working capital	$	2,811
Fixed assets	68
Intangible assets	31,600
Goodwill	71,430
Net noncurrent assets	323
Total purchase price	$	106,232

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

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



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

As of September 30, 2019, the Company has not completed its determination of the final allocation of the purchase price to the assets and liabilities of the acquisition. The final allocation of purchase price is expected to be finalized in 2019. Any adjustment to the assets and liabilities assumed with the acquisition will adjust goodwill.

The Company recorded preliminary goodwill of $71.4 million, which represents the excess of the purchase price over the estimated fair value of tangible and intangible assets acquired, net of the liabilities assumed. The goodwill is primarily attributable to ValuePenguin as a going concern, which represents the ability of the Company to earn a higher return on the collection of assets and business of ValuePenguin than if those assets and business were to be acquired and managed separately. The benefit of access to the workforce is an additional element of goodwill. The goodwill is recorded in the Company’s one reportable segment. For income tax purposes, the Company accounted for the acquisition as an asset purchase which would indicate the goodwill will be tax deductible.

Subsequent to the acquisition date, the Company’s consolidated results of operations include the results of the acquired ValuePenguin business. In the third quarter and first nine months of 2019, the Company’s consolidated results of operations include revenue of $5.3 million and $16.2 million, respectively. In the first six months of 2019, net income from continuing operations attributable to the ValuePenguin business was $3.1 million. Due to the integration of the ValuePenguin business subsequent to the acquisition, earnings of the acquired ValuePenguin business beginning in the third quarter of 2019 is impracticable to determine with sufficient accuracy. Acquisition-related costs were $0.1 million in the first nine months of 2019 and are included in general and administrative expense on the consolidated statement of operations and comprehensive income.

2018 Acquisitions

QuoteWizard

On October 31, 2018, the Company acquired QuoteWizard.com, LLC ("QuoteWizard"), one of the largest insurance comparison marketplaces in the growing online insurance advertising market. QuoteWizard services clients by driving consumers to insurance companies’ websites, providing leads to agents and carriers, as well as phone transfers of consumers into carrier call centers.

The Company paid $299.9 million in initial cash consideration, funded through $174.9 million of cash on hand and $125.0 million drawn on the Revolving Credit Facility, and could make up to three additional earnout payments, each ranging from zero to $23.4 million, based on certain defined operating results during the earnout periods November 1, 2018 through October 31, 2019, November 1, 2019 through October 31, 2020, and November 1, 2020 through October 31, 2021. These additional payments, to the extent earned, will be payable in cash. The purchase price of $313.4 million is comprised of the upfront cash payment of $299.9 million, $13.9 million for the estimated fair value of the earnout payments, and a $0.4 million post-closing receipt for working capital settlement.

As of September 30, 2019, the estimated fair value of the contingent consideration totaled $41.9 million, of which $23.0 million is included in current contingent consideration and $18.9 million is included in non-current contingent consideration in the accompanying consolidated balance sheet. The estimated fair value of the contingent consideration payments is determined using an option pricing model. The estimated value of the contingent consideration is based upon available information and certain assumptions, known at the time of this report, which management believes are reasonable. Any differences in the actual contingent consideration payments will be recorded in operating income in the consolidated statements of operations and comprehensive income. During the third quarter and first nine months of 2019, the Company recorded $4.3 million and $21.2 million, respectively, of contingent consideration expense in the consolidated statements of operations and comprehensive income due to the change in estimated fair value of the contingent consideration.

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



	Preliminary Fair Value
Net working capital	$	8,416
Fixed assets	1,509
Intangible assets	120,400
Goodwill	183,001
Other noncurrent assets	29
Total purchase price	$	313,355

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



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

As of September 30, 2019, the Company has not completed its determination of the final allocation of the purchase price to the assets and liabilities of the acquisition. The final allocation of purchase price will be finalized in 2019. Any adjustment to the assets and liabilities assumed with the acquisition will adjust goodwill.

The Company recorded preliminary goodwill of $183.0 million, which represents the excess of the purchase price over the estimated fair value of tangible and intangible assets acquired, net of the liabilities assumed. The goodwill is primarily attributable to QuoteWizard as a going concern, which represents the ability of the Company to earn a higher return on the collection of assets and business of QuoteWizard than if those assets and business were to be acquired and managed separately. The benefit of access to the workforce is an additional element of goodwill. The goodwill is recorded in the Company’s one reportable segment. For income tax purposes, the acquisition was an asset purchase and the goodwill will be tax deductible.

The unaudited pro forma financial results for the third quarter and first nine months of 2018 below combine the consolidated results of the Company and QuoteWizard, giving effect to the acquisition as if it had been completed on January 1, 2017. This unaudited pro forma financial information is presented for informational purposes only and is not indicative of future operations or results had the acquisition been completed as of January 1, 2017, or any other date.

The unaudited pro forma financial results include adjustments for additional amortization expense based on the fair value of the intangible assets with definite lives and their estimated useful lives, as well as changes in depreciation expense associated with the change in fair value of the property, plant and equipment recorded in relation to the acquisition. Interest expense was adjusted to eliminate historical interest associated with QuoteWizard's revolving credit facility and notes payable that were not assumed with the acquisition, as well as reflect incremental interest expense associated with debt issued to finance the acquisition. The provision for income taxes from continuing operations has also been adjusted to reflect taxes on the historical results of operations of QuoteWizard. QuoteWizard did not pay taxes at the entity level as it was a limited liability company whose members elected for it to be taxed as a partnership.



	Three Months Ended September 30, 2018		Nine Months Ended September 30, 2018
	(in thousands)
Pro forma revenue	$	240,706	$	681,302
Pro forma net income from continuing operations	$	29,230	$	107,643

Acquisition-related costs incurred by the Company and QuoteWizard that are directly attributable to the acquisition, and which will not have an ongoing impact, have been eliminated from the unaudited pro forma net income from continuing operations for the third quarter and first nine months of 2018.

Ovation

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

The Company paid $12.2 million in initial cash consideration and could make up to two additional earnout payments, each ranging from zero to $4.4 million, based on certain defined operating metrics during the earnout periods July 1, 2018 through June 30, 2019 and July 1, 2019 through June 30, 2020. These additional payments, to the extent earned, will be payable in cash. The purchase price of $17.9 million is comprised of the upfront cash payment of $12.2 million, $5.8 million for the estimated fair value of the earnout payments, and a $0.1 million post-closing receipt for working capital settlement.

As of September 30, 2019, the estimated fair value of the contingent consideration totaled $6.6 million, of which $4.4 million is included in current contingent consideration and $2.2 million is included in non-current contingent consideration in the accompanying consolidated balance sheet. The estimated fair value of the contingent consideration payments is determined using an option pricing model. The estimated value of the contingent consideration is based upon available information and certain assumptions, known at the time of this report, which management believes are reasonable. Any differences in the actual contingent consideration payments will be recorded in operating income in the consolidated statements of operations and comprehensive income. During the third quarter and first nine months of 2019, the Company recorded a gain of $0.8 million in the consolidated statements of operations and comprehensive income due to the change in estimated fair value of the contingent consideration.

In October 2019, the Company paid $4.4 million related to the earnout payment for the period of July 1, 2018 through June 30, 2019.

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



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

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



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

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

Changes in Contingent Consideration

SnapCap

On September 19, 2017, the Company acquired certain assets of Snap Capital LLC, which does business under the name SnapCap (“SnapCap”). SnapCap, a tech-enabled online platform, connects business owners with lenders offering small business loans, lines of credit and merchant cash advance products through a concierge-based sales approach.

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

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

As of September 30, 2019, the estimated fair value of the contingent consideration totaled $5.5 million, which is included in current contingent consideration in the accompanying consolidated balance sheet. The estimated fair value of the contingent consideration payments is determined using an option pricing model. The estimated value of the contingent consideration is based upon available information and certain assumptions, known at the time of this report, which management believes are reasonable. Any differences in the actual contingent consideration payments will be recorded in operating income in the consolidated statements of operations and comprehensive income. During the third quarter and first nine months of 2019, the Company recorded contingent consideration expense of $0.3 million and $1.8 million, respectively, in the consolidated statements of operations and comprehensive income due to the change in estimated fair value of the contingent consideration.

DepositAccounts

On June 14, 2017, the Company acquired substantially all of the assets of Deposits Online, LLC, which does business under the name DepositAccounts.com (“DepositAccounts”). DepositAccounts is a leading consumer-facing media property in the depository industry and is one of the most comprehensive sources of depository deals and analysis on the Internet, covering all major deposit product categories through editorial content, programmatic rate tables and user-generated content.

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

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

The estimated fair value of the portion of the contingent consideration payments based on increases in interest rates is determined using a scenario approach based on the interest rate forecasts of Federal Open Market Committee participants. The estimated value of the contingent consideration is based upon available information and certain assumptions, known at the time of this report, which management believes are reasonable. Any differences in the actual contingent consideration payments will be recorded in operating income in the consolidated statements of operations and comprehensive income. As of September 30, 2019, no liability has been recorded in the accompanying consolidated balance sheet for the remaining contingent consideration payment based on Federal Funds interest rates. Accordingly, during the first nine months of 2019, the Company recorded a gain of $1.0 million in the consolidated statement of operations and comprehensive income due to the change in estimated fair value of the contingent consideration.

Pro forma Financial Results

The unaudited pro forma financial results for the first nine months of 2019 and the third quarter and first nine months of 2018 combine the consolidated results of the Company and Ovation, Student Loan Hero, Inc. (“Student Loan Hero”), QuoteWizard and ValuePenguin, giving effect to the acquisitions as if the Ovation, Student Loan Hero and QuoteWizard acquisitions had been completed on January 1, 2017, and as if the ValuePenguin acquisition had been completed on January 1, 2018. This unaudited pro forma financial information is presented for informational purposes only and is not indicative of future operations or results had the acquisitions been completed as of January 1, 2017 or 2018, or any other date.

The unaudited pro forma financial results include adjustments for additional amortization expense based on the fair value of the intangible assets with definite lives and their estimated useful lives. Depreciation expense and interest expense were adjusted for the impact of the QuoteWizard acquisition, as described above. Interest expense was also adjusted to reflect incremental interest associated with debt issued to finance the ValuePenguin acquisition. The provision for income taxes from continuing operations has been adjusted to reflect taxes on the historical results of operations of QuoteWizard. QuoteWizard did not pay taxes at the entity level as it was a limited liability company whose members elected for it to be taxed as a partnership.



	Three Months Ended September 30,		Nine Months Ended September 30,
	2018		2019		2018
	(in thousands)
Pro forma revenue	$	246,432	$	851,931	$	710,580
Pro forma net income from continuing operations	$	29,616	$	37,721	$	109,511

The unaudited pro forma net income from continuing operations in the first nine months of 2019 includes the aggregate after-tax contingent consideration expense associated with the DepositAccounts, SnapCap, Ovation and QuoteWizard earnouts of $15.7 million. The unaudited pro forma net income from continuing operations in the third quarter and first nine months of 2018 includes the aggregate after-tax contingent consideration expense associated with the DepositAccounts, SnapCap and Ovation earnouts of $1.5 million and $0.4 million, respectively.

The unaudited pro forma net income from continuing operations for the first nine months of 2018 has been adjusted to include acquisition-related costs of $0.6 million incurred by the Company that are directly attributable to the ValuePenguin acquisition, and which will not have an ongoing impact. Accordingly, such acquisition-related costs have been eliminated from the unaudited pro forma net income from continuing operations for the first nine months of 2019. Acquisition-related costs incurred by the Company, Student Loan Hero and QuoteWizard that are directly attributable to the Ovation, Student Loan Hero and QuoteWizard acquisitions, and which will not have an ongoing impact, have been eliminated from the unaudited pro forma net income from continuing operations for the third quarter and first nine months of 2018.

LEASES (Notes)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

LEASES

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

As of September 30, 2019, right-of use assets totaling $27.0 million are included in other non-current assets and lease liabilities totaling $30.2 million are included in accrued expenses and other current liabilities and other non-current liabilities in the accompanying balance sheet.

During the second quarter of 2019, the Company recognized an impairment loss of $0.5 million within general and administrative expense on the consolidated statements of operations and comprehensive income, for the right-of-use asset related to an office lease. The Company vacated the office space in the second quarter of 2019 and adjusted the right-of-use asset to its fair value based on estimated sublease income.

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



	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease cost	$	1,765	$	4,495
Short-term lease cost	21		69
Total lease cost	$	1,786	$	4,564

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



	September 30, 2019
Weighted average remaining lease term	5.2 years
Weighted average discount rate	4.7	%

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



	Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	4,191
Right-of-use assets obtained in exchange for new operating lease liabilities	$	21,912

Maturities of lease liabilities as of September 30, 2019 are as follows (in thousands):



	Operating Leases
Remainder of current year	$	1,977
Year ending December 31, 2020	8,066
Year ending December 31, 2021	6,032
Year ending December 31, 2022	5,495
Year ending December 31, 2023	5,191
Thereafter	7,287
Total lease payments	34,048
Less: Interest	3,887
Present value of lease liabilities	$	30,161

Future minimum payments as of December 31, 2018 under operating lease agreements having an initial or remaining non-cancelable lease term in excess of one year are as follows (in thousands):



	Amount
Year ending December 31, 2019	$	4,406
Year ending December 31, 2020	3,188
Year ending December 31, 2021	1,094
Year ending December 31, 2022	736
Year ending December 31, 2023	228
Total	$	9,652

The Company operated as a lessor in connection with the office buildings in Charlotte, North Carolina acquired in December 2016. The properties were sold in the second quarter of 2019 to an unrelated third party. See Note 6—Assets Held for Sale for further information.

Rental income of $0.3 million in the first nine months of 2019, and $0.2 million and $0.7 million in the third quarter and first nine months of 2018, respectively, is included in other income on the accompanying consolidated statements of operations and comprehensive income.

LEASES

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



	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease cost	$	1,765	$	4,495
Short-term lease cost	21		69
Total lease cost	$	1,786	$	4,564

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



	September 30, 2019
Weighted average remaining lease term	5.2 years
Weighted average discount rate	4.7	%

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



	Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	4,191
Right-of-use assets obtained in exchange for new operating lease liabilities	$	21,912

Maturities of lease liabilities as of September 30, 2019 are as follows (in thousands):



	Operating Leases
Remainder of current year	$	1,977
Year ending December 31, 2020	8,066
Year ending December 31, 2021	6,032
Year ending December 31, 2022	5,495
Year ending December 31, 2023	5,191
Thereafter	7,287
Total lease payments	34,048
Less: Interest	3,887
Present value of lease liabilities	$	30,161

Future minimum payments as of December 31, 2018 under operating lease agreements having an initial or remaining non-cancelable lease term in excess of one year are as follows (in thousands):



	Amount
Year ending December 31, 2019	$	4,406
Year ending December 31, 2020	3,188
Year ending December 31, 2021	1,094
Year ending December 31, 2022	736
Year ending December 31, 2023	228
Total	$	9,652

STOCK-BASED COMPENSATION (Note)

9 Months Ended

Sep. 30, 2019

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 September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Cost of revenue	$	208	$	123	$	558	$	260
Selling and marketing expense	835		1,577		4,867		4,511
General and administrative expense	8,627		8,388		30,534		25,617
Product development	1,127		2,009		4,873		3,996
Total non-cash compensation	$	10,797	$	12,097	$	40,832	$	34,384

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, 2019	940,533		$	65.12
Granted ^(b)	42,417		321.93
Exercised	(135,992	)	43.39
Forfeited	(38,451	)	318.79
Expired	—		—
Options outstanding at September 30, 2019	808,507		70.18		4.49	$	195,171
Options exercisable at September 30, 2019	683,824		$	38.08	3.75	$	186,663

(a)

The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company's closing stock price of $310.43 on the last trading day of the quarter ended September 30, 2019 and the exercise price, multiplied by the number of shares covered by in-the-money options) that would have been received by the option holder had the option holder exercised these options on September 30, 2019. The intrinsic value changes based on the market value of the Company's common stock.

(b)

During the nine months ended September 30, 2019, 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 $166.22, calculated using the Black-Scholes option pricing model, which vesting periods include (a) immediate vesting on grant date, (b) one year from grant date, (c) three years from grant date and (d) four 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 - 6.25 years
Expected dividend ⁽²⁾	—
Expected volatility ⁽³⁾	51 - 55%
Risk-free interest rate ⁽⁴⁾	1.46% - 2.55%


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


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


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

Stock Options with Performance Conditions

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



	Number of Options with Performance Conditions		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value^(a)
			(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2019	37,877		$	308.90
Granted	—		—
Exercised	—		—
Forfeited	—		—
Expired	(11,876	)	308.90
Options outstanding at September 30, 2019	26,001		308.90		0.83	$	40
Options exercisable at September 30, 2019	—		$	—	0.00	$	—

(a)

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, 2019	447,193	$	200.51
Granted^(b)	16,247	308.96
Exercised	—	—
Forfeited	—	—
Expired	—	—
Options outstanding at September 30, 2019	463,440	204.31		7.92	$	51,017
Options exercisable at September 30, 2019	—	$	—	0.00	$	—

(a)


(b)	During the nine months ended September 30, 2019, the Company granted stock options with a grant date fair value per share of $230.81, calculated using the Monte Carlo simulation model, which has a vesting date of March 31, 2023.

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



Expected term ⁽¹⁾	7.00 years
Expected dividend ⁽²⁾	—
Expected volatility ⁽³⁾	51%
Risk-free interest rate ⁽⁴⁾	2.54%


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


(2)	For all stock options with a market condition granted in 2019, 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.

A maximum of 773,945 shares may be earned for achieving superior performance up to 167% of the target number of shares. As of September 30, 2019, performance-based nonqualified stock options with a market condition of 481,669 had been earned, which have a vesting 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, 2019	201,568		$	225.48
Granted	58,689		317.31
Vested	(72,908	)	192.00
Forfeited	(32,971	)	288.97
Nonvested at September 30, 2019	154,378		$	262.64

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, 2019	92,481		$	182.28
Granted	—		—
Vested	(40,458	)	204.78
Forfeited	(31,049	)	212.09
Nonvested at September 30, 2019	20,974		$	214.58

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, 2019	71,412		$	340.25
Granted	—		—
Vested	(17,853	)	340.25
Forfeited	—		—
Nonvested at September 30, 2019	53,559		$	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, 2019	26,674	$	340.25
Granted	—	—
Vested	—	—
Forfeited	—	—
Nonvested at September 30, 2019	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 September 30, 2019, performance-based restricted stock awards with a market condition of 29,601 had been earned, which have a vesting date of September 30, 2022.

DEBT (Note)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

DEBT

Convertible Senior Notes

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

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

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

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

•

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


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


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

Holders of the Notes became entitled to convert the Notes on January 1, 2018, based on the last reported sales price of the Company's common stock, for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on December 31, 2017, being greater than or equal to 130% of the conversion price of the Notes on each applicable trading day. Holders of the Notes continued to have such right until June 30, 2018, based on the last reported sales price of the Company's common stock, for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on March 31, 2018, being greater than or equal to 130% of the conversion price of the Notes on each applicable trading day. Holders of the Notes were not entitled to convert the Notes from July 1, 2018 to March 31, 2019. Holders of the Notes became entitled to convert the Notes on April 1, 2019, based on the last reported sales price of the Company's common stock, for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on March 31, 2019, being greater than or equal to 130% of the conversion price of the Notes on each applicable trading day. Holders of the Notes will continue to have such right until December 31, 2019, based on the last reported sales price of the Company's common stock, for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on September 30, 2019, being greater than or equal to 130% of the conversion price of the Notes on each applicable trading day.

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

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

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

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

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

In the first nine months of 2019, the Company recorded interest expense on the Notes of $11.5 million which consisted of $1.4 million associated with the 0.625% coupon rate, $9.0 million associated with the accretion of the debt discount, and $1.1 million associated with the amortization of the debt issuance costs. In the first nine months of 2018, the Company recorded interest expense on the Notes of $10.9 million which consisted of $1.4 million associated with the 0.625% coupon rate, $8.5 million associated with the accretion of the debt discount, and $1.0 million associated with the amortization of the debt issuance costs. The debt discount is being amortized over the term of the debt.

As of September 30, 2019, the fair value of the Notes is estimated to be approximately $482.7 million using the Level 1 observable input of the last quoted market price on September 30, 2019.

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



	September 30, 2019		December 31, 2018
Gross carrying amount	$	299,997	$	300,000
Unamortized debt discount	34,846		43,805
Debt issuance costs	4,178		5,252
Net carrying amount	$	260,973	$	250,943

Convertible Note Hedge and Warrant Transactions

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

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

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

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

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

Senior Secured Revolving Credit Facility

On November 21, 2017, the Company's wholly-owned subsidiary, LendingTree, LLC, entered into an amended and restated $250.0 million five-year senior secured revolving credit facility which matures on November 21, 2022 (the “Revolving Credit Facility”). Under certain conditions, the Company will be permitted to add one or more term loans and/or increase revolving commitments under the Revolving Credit Facility by an additional $100.0 million or a greater amount provided that a total consolidated senior secured debt to EBITDA ratio does not exceed 2.50 to 1.00. On October 26, 2018, the Company amended the Revolving Credit Facility to increase the borrowing capacity by $100.0 million to $350.0 million. Pricing and other terms and conditions of the Revolving Credit Facility remain unchanged. Borrowings under the Revolving Credit Facility can be used to finance working capital needs, capital expenditures and general corporate purposes, including to finance permitted acquisitions. As of September 30, 2019, the Company had $85.0 million in borrowings outstanding under the Revolving Credit Facility at the LIBO rate option with a weighted average interest rate of 3.55%, consisting of a $50.0 million 31-day borrowing and a $35.0 million 30-day borrowing. As of December 31, 2018, the Company had a $125.0 million, 31-day borrowing outstanding under the Revolving Credit Facility bearing interest at the LIBO rate option of 4.02%.

Up to $10.0 million of the Revolving Credit Facility will be available for short-term loans, referred to as swingline loans. Additionally, up to $10.0 million of the Revolving Credit Facility will be available for the issuance of letters of credit.

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


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


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

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

The Revolving Credit Facility contains a restrictive financial covenant, which initially limits the total consolidated debt to EBITDA ratio to 4.5, with step downs to 4.0 over time, except that this may increase by 0.5 for the four fiscal quarters following a material acquisition. In addition, the Revolving Credit Facility contains customary affirmative and negative covenants in addition to events of default for a transaction of this type that, among other things, restrict additional indebtedness, liens, mergers or certain fundamental changes, asset dispositions, dividends, stock repurchases and other restricted payments, transactions with affiliates, sale-leaseback transactions, hedging transactions, loans and investments and other matters customarily restricted in such agreements. The Company was in compliance with all covenants at September 30, 2019.

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

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

In addition to the remaining unamortized debt issuance costs associated with the original revolving credit facility entered into on October 22, 2015 and the Revolving Credit Facility, debt issuance costs of $0.5 million related to the October 2018 amendment are being amortized to interest expense over the life of the Revolving Credit Facility, and are included in prepaid and other current assets and other non-current assets in the Company's consolidated balance sheet.

In the first nine months of 2019, the Company recorded interest expense related to the Revolving Credit Facility of $5.1 million, which consisted of $4.2 million associated with borrowings bearing interest at the LIBO rate, $0.5 million in unused commitment fees, and $0.4 million associated with the amortization of the debt issuance costs. In the first nine months of 2018, the Company recorded interest expense related to the Revolving Credit Facility of $0.6 million in unused commitment fees and $0.3 million associated with the amortization of the debt issuance costs.

FAIR VALUE MEASUREMENTS (Note)

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

Other than the 0.625% Convertible Senior Notes and the Warrants, the carrying amounts of the Company's financial instruments are equal to fair value at September 30, 2019. See Note 13—Debt for additional information on the 0.625% Convertible Senior Notes and the Warrants.

Contingent consideration payments related to acquisitions are measured at fair value each reporting period using Level 3 unobservable inputs. The changes in the fair value of the Company's Level 3 liabilities during the third quarters and first nine months of 2019 and 2018 are as follows (in thousands):



	Three Months Ended September 30,					Nine Months Ended September 30,
	2019		2018			2019			2018
Contingent consideration, beginning of period	$	50,219	$	15,241		$	38,837		$	57,349
Transfers into Level 3	—		—			—			—
Transfers out of Level 3	—		—			—			—
Total net losses (gains) included in earnings (realized and unrealized)	3,839		2,105			21,221			1,197
Purchases, sales and settlements:
Additions	—		—			—			5,800
Payments	—		(1,000		)	(6,000		)	(48,000		)
Contingent consideration, end of period	$	54,058	$	16,346		$	54,058		$	16,346

The contingent consideration liability at September 30, 2019 is the estimated fair value of the earnout payments of the DepositAccounts, SnapCap, Ovation and QuoteWizard acquisitions.

The Company will make payments ranging from zero to $1.0 million based on the achievement of defined milestone targets for DepositAccounts, payments ranging from $3.0 million to $6.0 million based on the achievement of certain defined earnings targets for SnapCap, payments ranging from $4.4 million to $8.8 million based on the achievement of certain defined operating metrics for Ovation, and payments ranging from zero to $70.2 million based on the achievement of certain defined performance targets for QuoteWizard. See Note 7—Business Acquisitions for additional information on the contingent consideration for each of these respective acquisitions.

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

- Definition

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

+ References + Details

DISCONTINUED OPERATIONS (Note)

9 Months Ended

Sep. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

ASSETS HELD FOR SALE

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



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

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



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

DISCONTINUED OPERATIONS

Home Loan Center, Inc. Bankruptcy Filing

Loan Loss Obligations

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

Litigation Related to Discontinued Operations

Residential Funding Company

Lehman Brothers Holdings, Inc.

Financial Information of Discontinued Operations

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



	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Revenue	$	—		$	—		$	—		$	—

Gain from removal of HLC's assets and liabilities	4,515			—			4,515			—
Other operating expenses	(32,182		)	(3,334		)	(34,492		)	(11,733		)
Loss before income taxes	(27,667		)	(3,334		)	(29,977		)	(11,733		)
Income tax benefit	7,468			700			7,953			2,464
Net loss	$	(20,199	)	$	(2,634	)	$	(22,024	)	$	(9,269	)

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2019
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: loan loss obligations; the recoverability of long-lived assets, goodwill and intangible assets; the determination of income taxes payable and deferred income taxes, including related valuation allowances; fair value of assets acquired in a business combination; contingent consideration related to business combinations; litigation accruals; HLC ownership related claims; contract assets; various other allowances, reserves and accruals; and assumptions related to the determination of stock-based compensation.
Certain Risks and Concentrations	Certain Risks and Concentrations LendingTree's business is subject to certain risks and concentrations including dependence on third-party technology providers, exposure to risks associated with online commerce security and credit card fraud. Financial instruments, which potentially subject the Company to concentration of credit risk at September 30, 2019, consist primarily of cash and cash equivalents and accounts receivable, as disclosed in the consolidated balance sheet. Cash and cash equivalents are in excess of Federal Deposit Insurance Corporation insurance limits, but are maintained with quality financial institutions of high credit. The Company generally 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 services. 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	Recent Accounting Pronouncements In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-15, which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This ASU is effective for annual and interim reporting periods beginning after December 15, 2019. Early adoption is permitted, including adoption in any interim period. The amendments should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company is evaluating the impact this ASU will have on its consolidated financial statements and will adopt ASU 2018-15 in the first quarter of 2020 using the prospective approach. In August 2018, the FASB issued ASU 2018-13, which removes, modifies and adds certain disclosure requirements in Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurement. This ASU is effective for annual and interim reporting periods beginning after December 15, 2019, with early adoption permitted. Entities are permitted to adopt any removed or modified disclosures and delay adoption of the additional disclosures until the effective date of the ASU. Certain amendments must be applied prospectively while others are to be applied on a retrospective basis to all periods presented. The Company is evaluating the impact this ASU will have on its consolidated financial statements and will adopt ASU 2018-13 in the first quarter of 2020. In January 2017, the FASB issued ASU 2017-04, which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge (Step 2 of the goodwill impairment test). Instead, an impairment charge will be based on the excess of the carrying amount over the fair value. This ASU is effective for annual and interim impairment tests performed in periods beginning after December 15, 2019. Early adoption is permitted for annual and interim goodwill impairment testing dates after January 1, 2017. The Company is evaluating the impact this ASU will have on its consolidated financial statements and plans to adopt ASU 2017-04 in the first quarter of 2020. In June 2016, the FASB issued ASU 2016-13, which requires entities to measure expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU introduces ASC Topic 326, Financial Instruments—Credit Losses, which replaces the existing incurred loss model and is applicable to financial assets measured at amortized cost, including trade receivables and certain other financial assets that have the contractual right to receive cash. This ASU is effective for annual and interim reporting periods beginning after December 15, 2019. Early adoption is permitted beginning after December 15, 2018, including adoption in interim periods. The guidance must be adopted using a modified retrospective transition. The Company is evaluating the impact this ASU will have on its consolidated financial statements and will adopt ASU 2016-13 in the first quarter of 2020. In February 2016, the FASB issued ASU 2016-02 related to lease accounting guidance. This ASU introduces ASC Topic 842, Leases, which supersedes ASC Topic 840, Leases. In 2018 and 2019, the FASB issued final amendments clarifying certain narrow aspects of implementing ASU 2016-02, including clarifications related to the rate implicit in the lease, lessee reassessment of lease classification, lessor reassessment of lease term and purchase options, variable payments that depend on an index or rate, transition disclosures and certain other transition matters. The clarification ASUs also provided an optional transition method that allows entities to initially apply the lease accounting transition requirements at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption without restating comparative prior periods presented. The clarification ASUs must be adopted concurrently with the adoption of ASU 2016-02 (collectively, "ASC Topic 842"). The Company has adopted ASC Topic 842 as of January 1, 2019 using the optional transition method to apply the new requirements at the adoption date without restating comparative prior periods presented. The adoption resulted in the increase in total assets and total liabilities of $8.8 million as of January 1, 2019 related to operating leases greater than one year in duration for which the Company is the lessee, with no cumulative effect adjustment to the opening balance of accumulated deficit. As part of the transition, the Company has elected the package of practical expedients, which allows the Company to not reassess whether expired or existing contracts contain leases, lease classification for expired or existing leases, and initial direct costs for existing leases. Additionally, the Company has elected an accounting policy to not record short-term leases, which are leases with an initial term of twelve months or fewer, on the balance sheet.

GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill rollforward

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



	Goodwill		Accumulated Impairment Loss			Net Goodwill
Balance at December 31, 2018	$	831,435	$	(483,088	)	$	348,347
Acquisition of Ovation	20		—			20
Acquisition of QuoteWizard	138		—			138
Acquisition of ValuePenguin	71,430		—			71,430
Balance at September 30, 2019	$	903,023	$	(483,088	)	$	419,935

Schedule of balance of intangible assets, net

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



	September 30, 2019		December 31, 2018
Intangible assets with indefinite lives	$	10,142	$	10,142
Intangible assets with definite lives, net	185,195		195,557
Total intangible assets, net	$	195,337	$	205,699

Schedule of intangible assets with definite lives

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



	Cost		Accumulated Amortization			Net
Technology	$	116,600	$	(42,244	)	$	74,356
Customer lists	79,200		(12,825		)	66,375
Trademarks and tradenames	18,042		(6,364		)	11,678
Website content	51,000		(18,217		)	32,783
Other	161		(158		)	3
Balance at September 30, 2019	$	265,003	$	(79,808	)	$	185,195



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

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



	Amortization Expense
Remainder of current year	$	13,757
Year ending December 31, 2020	53,078
Year ending December 31, 2021	42,738
Year ending December 31, 2022	25,256
Year ending December 31, 2023	8,602
Thereafter	41,764
Total intangible assets with definite lives, net	$	185,195

BUSINESS ACQUISITION (Tables)

9 Months Ended

Sep. 30, 2019

Business Combinations [Abstract]

Schedule of purchase price allocation

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



	Preliminary Fair Value
Net working capital	$	8,416
Fixed assets	1,509
Intangible assets	120,400
Goodwill	183,001
Other noncurrent assets	29
Total purchase price	$	313,355

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



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

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



	Preliminary Fair Value
Net working capital	$	2,811
Fixed assets	68
Intangible assets	31,600
Goodwill	71,430
Net noncurrent assets	323
Total purchase price	$	106,232

Schedule of the fair value of definite lived intangible assets acquired

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



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

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



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

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



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

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



	Three Months Ended September 30, 2018		Nine Months Ended September 30, 2018
	(in thousands)
Pro forma revenue	$	240,706	$	681,302
Pro forma net income from continuing operations	$	29,230	$	107,643



	Three Months Ended September 30,		Nine Months Ended September 30,
	2018		2019		2018
	(in thousands)
Pro forma revenue	$	246,432	$	851,931	$	710,580
Pro forma net income from continuing operations	$	29,616	$	37,721	$	109,511

LEASES (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Summary of Lease Expense and Weighted Average

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



	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease cost	$	1,765	$	4,495
Short-term lease cost	21		69
Total lease cost	$	1,786	$	4,564

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



	September 30, 2019
Weighted average remaining lease term	5.2 years
Weighted average discount rate	4.7	%

Lessee operating leases supplemental cash flow information and noncash activity table

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



	Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	4,191
Right-of-use assets obtained in exchange for new operating lease liabilities	$	21,912

Operating Lease Maturity

Maturities of lease liabilities as of September 30, 2019 are as follows (in thousands):



	Operating Leases
Remainder of current year	$	1,977
Year ending December 31, 2020	8,066
Year ending December 31, 2021	6,032
Year ending December 31, 2022	5,495
Year ending December 31, 2023	5,191
Thereafter	7,287
Total lease payments	34,048
Less: Interest	3,887
Present value of lease liabilities	$	30,161

Operating Lease Maturity ASC 840

Future minimum payments as of December 31, 2018 under operating lease agreements having an initial or remaining non-cancelable lease term in excess of one year are as follows (in thousands):



	Amount
Year ending December 31, 2019	$	4,406
Year ending December 31, 2020	3,188
Year ending December 31, 2021	1,094
Year ending December 31, 2022	736
Year ending December 31, 2023	228
Total	$	9,652

STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2019

STOCK-BASED COMPENSATION

Schedule of non-cash compensation expense related to equity awards

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



	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Cost of revenue	$	208	$	123	$	558	$	260
Selling and marketing expense	835		1,577		4,867		4,511
General and administrative expense	8,627		8,388		30,534		25,617
Product development	1,127		2,009		4,873		3,996
Total non-cash compensation	$	10,797	$	12,097	$	40,832	$	34,384

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, 2019	940,533		$	65.12
Granted ^(b)	42,417		321.93
Exercised	(135,992	)	43.39
Forfeited	(38,451	)	318.79
Expired	—		—
Options outstanding at September 30, 2019	808,507		70.18		4.49	$	195,171
Options exercisable at September 30, 2019	683,824		$	38.08	3.75	$	186,663

(a)

(b)

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



	Number of Options with Performance Conditions		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value^(a)
			(per option)		(in years)	(in thousands)
Options outstanding at January 1, 2019	37,877		$	308.90
Granted	—		—
Exercised	—		—
Forfeited	—		—
Expired	(11,876	)	308.90
Options outstanding at September 30, 2019	26,001		308.90		0.83	$	40
Options exercisable at September 30, 2019	—		$	—	0.00	$	—

(a)

Schedule of stock option valuation assumptions



Expected term ⁽¹⁾	5.00 - 6.25 years
Expected dividend ⁽²⁾	—
Expected volatility ⁽³⁾	51 - 55%
Risk-free interest rate ⁽⁴⁾	1.46% - 2.55%


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


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

(4)

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



Expected term ⁽¹⁾	7.00 years
Expected dividend ⁽²⁾	—
Expected volatility ⁽³⁾	51%
Risk-free interest rate ⁽⁴⁾	2.54%


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


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


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

(4)

Schedule of changes in outstanding 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, 2019	447,193	$	200.51
Granted^(b)	16,247	308.96
Exercised	—	—
Forfeited	—	—
Expired	—	—
Options outstanding at September 30, 2019	463,440	204.31		7.92	$	51,017
Options exercisable at September 30, 2019	—	$	—	0.00	$	—

(a)

(b)

During the nine months ended September 30, 2019, the Company granted stock options with a grant date fair value per share of $230.81, calculated using the Monte Carlo simulation model, which has a vesting date of March 31, 2023.

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, 2019	201,568		$	225.48
Granted	58,689		317.31
Vested	(72,908	)	192.00
Forfeited	(32,971	)	288.97
Nonvested at September 30, 2019	154,378		$	262.64

Schedule of changes in outstanding nonvested RSUs and restricted stock with performance and 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, 2019	26,674	$	340.25
Granted	—	—
Vested	—	—
Forfeited	—	—
Nonvested at September 30, 2019	26,674	$	340.25

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, 2019	92,481		$	182.28
Granted	—		—
Vested	(40,458	)	204.78
Forfeited	(31,049	)	212.09
Nonvested at September 30, 2019	20,974		$	214.58

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, 2019	71,412		$	340.25
Granted	—		—
Vested	(17,853	)	340.25
Forfeited	—		—
Nonvested at September 30, 2019	53,559		$	340.25

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Assets	$ 979,191		$ 896,115
Liabilities	$ 589,927		$ 549,907
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Assets		$ 8,800
Liabilities		$ 8,800

REVENUE (Details) - USD ($)	3 Months Ended		9 Months Ended
REVENUE (Details) - USD ($)	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 310,605,000	$ 197,057,000	$ 851,416,000	$ 562,193,000
Contract asset	5,900,000		5,900,000		$ 4,800,000
Contract liability	700,000		700,000		$ 400,000
Revenue recognized from prior period			400,000
Estimated variable consideration, increase in revenue	(900,000)	100,000
Mortgage products
Disaggregation of Revenue [Line Items]
Revenue	62,004,000	55,287,000	162,606,000	195,697,000
Credit Cards
Disaggregation of Revenue [Line Items]
Revenue	54,822,000	42,698,000	165,373,000	127,577,000
Personal Loans
Disaggregation of Revenue [Line Items]
Revenue	43,873,000	38,569,000	117,513,000	100,744,000
Insurance
Disaggregation of Revenue [Line Items]
Revenue	74,849,000	14,000	213,882,000	40,000
Other Products And Services
Disaggregation of Revenue [Line Items]
Revenue	75,057,000	60,489,000	192,042,000	138,135,000
Non-mortgage products
Disaggregation of Revenue [Line Items]
Revenue	$ 248,601,000	$ 141,770,000	$ 688,810,000	$ 366,496,000

CASH AND RESTRICTED CASH (Details - Balance Sheet) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 50,497	$ 105,102
Restricted cash and cash equivalents	259	56
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	$ 50,756	$ 105,158	$ 265,241	$ 372,641

GOODWILL AND INTANGIBLE ASSETS (Details - Balance Sheet) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Jan. 10, 2019	Dec. 31, 2018	Oct. 31, 2018	Jun. 11, 2018
Goodwill [Roll Forward]
Goodwill	$ 903,023		$ 831,435
Accumulated impairment losses	(483,088)		(483,088)
Net goodwill	419,935		348,347
Intangible Assets, Net (Including Goodwill) [Abstract]
Intangible assets with indefinite lives	10,142		10,142
Intangible assets with definite lives, net	185,195		195,557
Total intangible assets, net	195,337		$ 205,699
Ovation
Goodwill [Line Items]
Increase to goodwill due to acquisitions	20
Impairment losses during period related to goodwill	0
Goodwill [Roll Forward]
Net goodwill	11,280				$ 11,300
QuoteWizard
Goodwill [Line Items]
Increase to goodwill due to acquisitions	138
Impairment losses during period related to goodwill	0
Goodwill [Roll Forward]
Net goodwill	183,001			$ 183,000
ValuePenguin
Goodwill [Line Items]
Increase to goodwill due to acquisitions	71,430
Impairment losses during period related to goodwill	0
Goodwill [Roll Forward]
Net goodwill	$ 71,430	$ 71,400

GOODWILL AND INTANGIBLE ASSETS (Details - Definite Lived Intangibles) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Intangible assets with definite lives
Cost	$ 265,003	$ 234,498
Accumulated Amortization	(79,808)	(38,941)
Total intangible assets with definite lives, net	185,195	195,557
Technology
Intangible assets with definite lives
Cost	116,600	112,400
Accumulated Amortization	(42,244)	(21,022)
Total intangible assets with definite lives, net	74,356	91,378
Customer lists
Intangible assets with definite lives
Cost	79,200	80,200
Accumulated Amortization	(12,825)	(7,746)
Total intangible assets with definite lives, net	66,375	72,454
Trademarks and tradenames
Intangible assets with definite lives
Cost	18,042	16,742
Accumulated Amortization	(6,364)	(3,730)
Total intangible assets with definite lives, net	11,678	13,012
Website content
Intangible assets with definite lives
Cost	51,000	24,900
Accumulated Amortization	(18,217)	(6,192)
Total intangible assets with definite lives, net	32,783	18,708
Other
Intangible assets with definite lives
Cost	161	256
Accumulated Amortization	(158)	(251)
Total intangible assets with definite lives, net	$ 3	$ 5

GOODWILL AND INTANGIBLE ASSETS (Details - 5yr Definite Lived Intangibles Amortization) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Amortization of intangible assets with definite lives computed on a straight-line basis
Remainder of current year	$ 13,757
2020	53,078
2021	42,738
2022	25,256
2023	8,602
Thereafter	41,764
Total intangible assets with definite lives, net	$ 185,195	$ 195,557

ASSETS HELD FOR SALE ASSETS HELD FOR SALE - Schedule for assets held for sale (Details) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
	Dec. 31, 2016 USD ($) building	Jun. 30, 2019 USD ($)	Sep. 30, 2019 USD ($) segment	Dec. 31, 2018 USD ($)
Long Lived Assets Held-for-sale [Line Items]
Sale price		$ 24,400
Assets held for sale			$ 0	$ 21,328
Assets Held-For-Sale, Not Part Of Disposal Group, Property, Plant, And Equipment, Gross				22,063
Assets Held-For-Sale, Not Part Of Disposal Group, Property, Plant, And Equipment, Accumulated Depreciation, Depletion And Amortization				(1,278)
Assets Held-For-Sale, Not Part Of Disposal Group, Property, Plant, And Equipment, Net				20,785
Assets Held-For-Sale, Not Part Of Disposal Group, Finite-Lived Intangible Assets, Gross				961
Accumulated Amortization			$ (79,808)	(38,941)
Assets Held-For-Sale, Not Part Of Disposal Group, Finite-Lived Intangible Assets, Net				493
Number of reportable segments \| segment			1
Land
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale				5,818
Building
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale				14,984
Site improvements
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale				950
Computer equipment and capitalized software
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale				166
Furniture and other equipment
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale				145
Tenant leases
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale				961
Accumulated Amortization				$ (468)
Two Office Buildings In Charlotte, NC [Member]
Long Lived Assets Held-for-sale [Line Items]
Number Of Office Buildings Acquired \| building	2
Fixed assets	$ 23,500
Acquisition Costs, Period Cost	$ 100
Discontinued Operations, Disposed of by Sale \| Two Office Buildings In Charlotte, NC [Member]
Long Lived Assets Held-for-sale [Line Items]
Disposal Group, Including Discontinued Operation, Closing Fee		300
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax		$ 2,700

BUSINESS ACQUISITION (Details - Acquisitions)						1 Months Ended	3 Months Ended		9 Months Ended
BUSINESS ACQUISITION (Details - Acquisitions)	Jan. 10, 2019 USD ($)	Oct. 31, 2018 USD ($) payment	Jun. 11, 2018 USD ($) payment	Sep. 19, 2017 USD ($) payment	Jun. 14, 2017 USD ($)	Oct. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Sep. 30, 2019 USD ($) segment	Sep. 30, 2018 USD ($)	Dec. 31, 2018 USD ($)
Consideration Transferred
Goodwill							$ 419,935,000		$ 419,935,000		$ 348,347,000
Fair Value of Intangible Assets
Current contingent consideration							32,955,000		32,955,000		11,080,000
Non-current contingent consideration							21,103,000		21,103,000		$ 27,757,000
Severance expense							179,000	$ 2,328,000	$ 636,000	$ 2,331,000
Number of reportable segments \| segment									1
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual							5,300,000		$ 16,200,000
Acquisition related costs									600,000
Change in fair value of contingent consideration							3,839,000	$ 2,105,000	21,221,000	1,197,000
ValuePenguin
Consideration Transferred
Net working capital							2,811,000		2,811,000
Intangible assets							31,600,000		31,600,000
Goodwill	$ 71,400,000						71,430,000		71,430,000
Fixed assets							68,000		68,000
Total preliminary purchase price	106,200,000								106,232,000
Fair Value of Intangible Assets
Preliminary Fair Value	$ 31,600,000
Weighted Average Amortization Life	3 years 1 month 6 days
Initial cash consideration to acquire business	$ 106,100,000
Estimated increase to working capital	100,000
Acquisition related costs									100,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets							323,000		323,000
QuoteWizard
Consideration Transferred
Net working capital							8,416,000		8,416,000
Intangible assets							120,400,000		120,400,000
Goodwill		$ 183,000,000.0					183,001,000		183,001,000
Fixed assets							1,509,000		1,509,000
Total preliminary purchase price		313,400,000							313,355,000
Fair Value of Intangible Assets
Preliminary Fair Value		$ 120,400,000
Weighted Average Amortization Life		7 years 10 months 24 days
Initial cash consideration to acquire business		$ 299,900,000
Contingent consideration		13,900,000					41,900,000		41,900,000
Current contingent consideration							23,000,000.0		23,000,000.0
Non-current contingent consideration							18,900,000		18,900,000
Estimated increase to working capital		$ 400,000
Number of payments \| payment		3
Change in fair value of contingent consideration							4,300,000		21,200,000
Earnout payment		$ 174,900,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets							29,000		29,000
Ovation
Consideration Transferred
Net working capital							303,000		303,000
Intangible assets							8,900,000		8,900,000
Goodwill			$ 11,300,000				11,280,000		11,280,000
Net deferred tax liabilities							(2,688,000)		(2,688,000)
Fixed assets							76,000		76,000
Total preliminary purchase price			17,900,000						17,871,000
Fair Value of Intangible Assets
Preliminary Fair Value			$ 8,900,000
Weighted Average Amortization Life			5 years 4 months 24 days
Initial cash consideration to acquire business			$ 12,200,000
Contingent consideration			5,800,000				6,600,000		6,600,000
Current contingent consideration							4,400,000		4,400,000
Non-current contingent consideration							2,200,000		2,200,000
Estimated increase to working capital			$ 100,000
Number of payments \| payment			2
Change in fair value of contingent consideration							(800,000)		(800,000)
DepositAccounts
Fair Value of Intangible Assets
Initial cash consideration to acquire business					$ 24,000,000.0
Contingent consideration							0		0
Contingent consideration range, maximum					$ 9,000,000.0
Change in fair value of contingent consideration									(1,000,000.0)
SnapCap
Fair Value of Intangible Assets
Initial cash consideration to acquire business				$ 11,900,000					0	$ 10,000
Contingent consideration							5,500,000		5,500,000
Number of payments \| payment				3
Change in fair value of contingent consideration							$ 300,000		$ 1,800,000
Technology \| ValuePenguin
Fair Value of Intangible Assets
Preliminary Fair Value	$ 4,200,000
Weighted Average Amortization Life	3 years
Technology \| QuoteWizard
Fair Value of Intangible Assets
Preliminary Fair Value		$ 68,900,000
Weighted Average Amortization Life		4 years
Technology \| Ovation
Fair Value of Intangible Assets
Preliminary Fair Value			$ 6,000,000
Weighted Average Amortization Life			7 years
Customer lists \| QuoteWizard
Fair Value of Intangible Assets
Preliminary Fair Value		$ 42,700,000
Weighted Average Amortization Life		14 years 8 months 12 days
Customer lists \| Ovation
Fair Value of Intangible Assets
Preliminary Fair Value			$ 1,900,000
Weighted Average Amortization Life			1 year
Website content \| ValuePenguin
Fair Value of Intangible Assets
Preliminary Fair Value	$ 26,100,000
Weighted Average Amortization Life	3 years
Website content \| QuoteWizard
Fair Value of Intangible Assets
Preliminary Fair Value		$ 1,000,000
Weighted Average Amortization Life		3 years
Trademarks and tradenames \| ValuePenguin
Fair Value of Intangible Assets
Preliminary Fair Value	$ 1,300,000
Weighted Average Amortization Life	5 years
Trademarks and tradenames \| QuoteWizard
Fair Value of Intangible Assets
Preliminary Fair Value		$ 7,800,000
Weighted Average Amortization Life		5 years
Trademarks and tradenames \| Ovation
Fair Value of Intangible Assets
Preliminary Fair Value			$ 1,000,000
Weighted Average Amortization Life			4 years
Contingent earnout \| QuoteWizard
Fair Value of Intangible Assets
Contingent consideration range, minimum		$ 0
Contingent consideration range, maximum		23,400,000
Contingent earnout \| Ovation
Fair Value of Intangible Assets
Contingent consideration range, minimum			$ 0
Contingent consideration range, maximum			$ 4,400,000
Contingent earnout \| SnapCap
Fair Value of Intangible Assets
Contingent consideration range, minimum				$ 0
Contingent consideration range, maximum				$ 3,000,000.0
Revolving Credit Facility \| ValuePenguin
Fair Value of Intangible Assets
Net repayment of revolving credit facility	$ 90,000,000.0
Revolving Credit Facility \| QuoteWizard
Fair Value of Intangible Assets
Net repayment of revolving credit facility		$ 125,000,000.0
Subsequent Event \| Ovation
Fair Value of Intangible Assets
Earnout payment						$ 4,400,000

BUSINESS ACQUISITION BUSINESS ACQUISITION (Details - Changes in Contingent Consideration)					3 Months Ended								9 Months Ended
	Oct. 31, 2018 USD ($) payment	Jun. 11, 2018 USD ($) payment	Sep. 19, 2017 USD ($) payment	Jun. 14, 2017 USD ($) payment	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)
Business Acquisition [Line Items]
Contingent consideration payments													$ 3,000,000	$ 26,600,000
Current contingent consideration					$ 32,955,000			$ 11,080,000					32,955,000
Non-current contingent consideration					21,103,000			27,757,000					21,103,000
Change in fair value of contingent consideration					3,839,000				$ 2,105,000				21,221,000	1,197,000
Ovation
Business Acquisition [Line Items]
Initial cash consideration to acquire business		$ 12,200,000
Number of payments \| payment		2
Total preliminary purchase price		$ 17,900,000											17,871,000
Contingent consideration		5,800,000			6,600,000								6,600,000
Current contingent consideration					4,400,000								4,400,000
Non-current contingent consideration					2,200,000								2,200,000
Change in fair value of contingent consideration					(800,000)								(800,000)
QuoteWizard
Business Acquisition [Line Items]
Initial cash consideration to acquire business	$ 299,900,000
Number of payments \| payment	3
Total preliminary purchase price	$ 313,400,000												313,355,000
Contingent consideration	13,900,000				41,900,000								41,900,000
Current contingent consideration					23,000,000.0								23,000,000.0
Non-current contingent consideration					18,900,000								18,900,000
Change in fair value of contingent consideration					4,300,000								21,200,000
DepositAccounts
Business Acquisition [Line Items]
Initial cash consideration to acquire business				$ 24,000,000.0
Contingent consideration range, maximum				9,000,000.0
Contingent consideration					0								0
Contingent consideration payments						$ 2,000,000.0	$ 1,000,000.0	$ 1,000,000.0	$ 1,000,000	$ 1,000,000	$ 1,000,000	$ 1,000,000.0
Change in fair value of contingent consideration													(1,000,000.0)
Value of potential contingent consideration payments based on specified increases in federal funds interest rates				1,000,000.0
One-time contingent consideration performance payment				$ 2,000,000.0
Number Of Contingent Consideration Payments \| payment				7
SnapCap
Business Acquisition [Line Items]
Initial cash consideration to acquire business			$ 11,900,000										0	$ 10,000
Number of payments \| payment			3
Contingent consideration					5,500,000								5,500,000
Contingent consideration payments							$ 3,000,000.0
Change in fair value of contingent consideration					$ 300,000								$ 1,800,000
Contingent earnout \| Ovation
Business Acquisition [Line Items]
Contingent consideration range, minimum		0
Contingent consideration range, maximum		$ 4,400,000
Contingent earnout \| QuoteWizard
Business Acquisition [Line Items]
Contingent consideration range, minimum	0
Contingent consideration range, maximum	$ 23,400,000
Contingent earnout \| SnapCap
Business Acquisition [Line Items]
Contingent consideration range, minimum			$ 0
Contingent consideration range, maximum			$ 3,000,000.0

BUSINESS ACQUISITION BUSINESS ACQUISITION (Details - Pro forma Financial Results) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma revenue		$ 246,432		$ 851,931	$ 710,580
Pro forma net income from continuing operations		29,616		37,721	109,511
After tax contingent consideration tax		1,500		15,700	400
Acquisition related costs				600
Revenue of acquirees since acquisition date	$ 5,300			$ 16,200
Earnings of acquiree since acquisition date			$ 3,100
QuoteWizard
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma revenue		240,706			681,302
Pro forma net income from continuing operations		$ 29,230			$ 107,643

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details - Balance Sheet) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Contribution to LendingTree Foundation	$ 3,333	$ 3,333
Accrued expenses and other current liabilities
Accrued advertising expense	61,680	60,268
Accrued compensation and benefits	11,532	6,381
Accrued professional fees	1,322	2,549
Customer deposits and escrows	7,160	6,913
Current lease liabilities	6,750	0
Other	17,841	13,746
Total accrued expenses and other current liabilities	$ 109,618	$ 93,190

LEASES - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
LEASES - Narrative (Details) $ in Thousands	Jun. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Sep. 30, 2019 USD ($) renewal_options	Sep. 30, 2018 USD ($)
Lessee, Lease, Description [Line Items]
Number of renewal options \| renewal_options			1
Rental income		$ 200	$ 300	$ 700
Operating lease right-of-use asset			27,000
Present value of lease liabilities			$ 30,161
Impairment loss	$ 500
Minimum
Lessee, Lease, Description [Line Items]
Renewal term			2 years
Maximum
Lessee, Lease, Description [Line Items]
Renewal term			5 years

LEASES - Summary of Lease Expense and Weighted Average (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019 USD ($)	Sep. 30, 2019 USD ($)
Leases [Abstract]
Operating lease cost	$ 1,765	$ 4,495
Short-term lease cost	21	69
Total lease cost	$ 1,786	$ 4,564
Weighted average remaining lease term	5 years 2 months 12 days	5 years 2 months 12 days
Weighted average discount rate	4.70%	4.70%

LEASES - Operating Lease Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Operating Lease Maturity, ASC 842
Remainder of current year	$ 1,977
Year ending December 31, 2020	8,066
Year ending December 31, 2021	6,032
Year ending December 31, 2022	5,495
Year ending December 31, 2023	5,191
Thereafter	7,287
Total lease payments	34,048
Less: Interest	3,887
Present value of lease liabilities	$ 30,161
Operating Lease Maturity, ASC 840
Year ending December 31, 2019		$ 4,406
Year ending December 31, 2020		3,188
Year ending December 31, 2021		1,094
Year ending December 31, 2022		736
Year ending December 31, 2023		228
Total		$ 9,652

SHAREHOLDERS' EQUITY (Details) - USD ($) $ in Thousands	3 Months Ended					9 Months Ended
SHAREHOLDERS' EQUITY (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Feb. 20, 2019	Feb. 21, 2018	May 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Annual interest rate on convertible senior notes										0.625%
Calculation of weighted average common shares
Weighted average common shares, basic	12,890,000		12,799,000			12,805,000	12,437,000
Effect of dilutive securities
Effect of stock options (in shares)	726,000		758,000			760,000	1,160,000
Effect of dilutive share awards (in shares)	136,000		110,000			176,000	167,000
Effect of Convertible Senior Notes (in shares)	880,000		183,000			888,000	535,000
Weighted average common shares, diluted	14,632,000		13,850,000			14,629,000	14,299,000
Common stock repurchases
Value of common stock authorized to be repurchased								$ 150,000	$ 100,000
Purchase of treasury stock (in shares)						18,580	205,310
Treasury Stock, Value, Acquired, Cost Method	$ 310	$ 3,976	$ 11,180	$ 35,003	$ 11,000	$ 4,300	$ 57,200
Remaining authorized repurchase amount	$ 180,900					$ 180,900
Employee stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	100,000		500,000			100,000	400,000
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			100,000

STOCK-BASED COMPENSATION (Details - P&L Impact) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Non-cash compensation expense related to equity awards
Total non-cash compensation	$ 10,797	$ 12,097	$ 40,832	$ 34,384
Cost of revenue
Non-cash compensation expense related to equity awards
Total non-cash compensation	208	123	558	260
Selling and marketing expense
Non-cash compensation expense related to equity awards
Total non-cash compensation	835	1,577	4,867	4,511
General and administrative expense
Non-cash compensation expense related to equity awards
Total non-cash compensation	8,627	8,388	30,534	25,617
Product development
Non-cash compensation expense related to equity awards
Total non-cash compensation	$ 1,127	$ 2,009	$ 4,873	$ 3,996

STOCK-BASED COMPENSATION (Details - Stock Options Rollforward) - USD ($)	9 Months Ended
	Sep. 30, 2019	May 24, 2017
Stock options, Grant Date Fair Value Valuation
Share price	$ 310.43	$ 156.70
Grant date fair value	$ 166.22
Aggregate stock options
Stock options, Shares
Outstanding at the beginning of the period (in shares)	940,533
Granted (in shares)	42,417
Exercised (in shares)	(135,992)
Forfeited (in shares)	(38,451)
Expired (in shares)	0
Outstanding at the end of the period (in shares)	808,507
Options exercisable at the end of the period (in shares)	683,824
Stock options, Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 65.12
Granted (in dollars per share)	321.93
Exercised (in dollars per share)	43.39
Forfeited (in dollars per share)	318.79
Expired (in dollars per share)	0
Outstanding at the end of the period (in dollars per share)	70.18
Options exercisable at the end of the period (in dollars per share)	$ 38.08
Stock options, Weighted Average Remaining Contractual Term
Outstanding at the end of the period	4 years 5 months 26 days
Options exercisable at the end of the period	3 years 9 months
Stock options, Aggregate Intrinsic Value
Outstanding at the end of the period	$ 195,171,000
Options exercisable at the end of the period	$ 186,663,000
Stock options, Grant Date Fair Value Valuation
Expected dividend rate	0.00%
Expected volatility, minimum	51.00%
Expected volatility, maximum	55.00%
Risk-free interest rate, minimum	1.46%
Risk-free interest rate, maximum	2.55%
Expected dividends	$ 0
Performance options
Stock options, Shares
Outstanding at the beginning of the period (in shares)	37,877
Granted (in shares)	0
Exercised (in shares)	0
Forfeited (in shares)	0
Expired (in shares)	(11,876)
Outstanding at the end of the period (in shares)	26,001
Options exercisable at the end of the period (in shares)	0
Stock options, Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 308.90
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	0
Expired (in dollars per share)	308.90
Outstanding at the end of the period (in dollars per share)	308.90
Options exercisable at the end of the period (in dollars per share)	$ 0
Stock options, Weighted Average Remaining Contractual Term
Outstanding at the end of the period	9 months 29 days
Options exercisable at the end of the period	0 years
Stock options, Aggregate Intrinsic Value
Outstanding at the end of the period	$ 40,000
Options exercisable at the end of the period	$ 0
Market options
Stock options, Shares
Outstanding at the beginning of the period (in shares)	447,193
Granted (in shares)	16,247
Exercised (in shares)	0
Forfeited (in shares)	0
Expired (in shares)	0
Outstanding at the end of the period (in shares)	463,440
Options exercisable at the end of the period (in shares)	0
Stock options, Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 200.51
Granted (in dollars per share)	308.96
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	0
Expired (in dollars per share)	0
Outstanding at the end of the period (in dollars per share)	204.31
Options exercisable at the end of the period (in dollars per share)	$ 0
Stock options, Weighted Average Remaining Contractual Term
Outstanding at the end of the period	7 years 11 months 1 day
Options exercisable at the end of the period	0 years
Stock options, Aggregate Intrinsic Value
Outstanding at the end of the period	$ 51,017,000
Options exercisable at the end of the period	$ 0
Stock options, Grant Date Fair Value Valuation
Grant date fair value	$ 230.81
Expected term	P7Y
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	51.00%
Expected dividend rate	0.00%
Risk-free interest rate	2.54%
Expected dividends	$ 0
Maximum number of shared to be earned	773,945
Percentage of target number of shares	167.00%
Performance Awards Earned	481,669
Minimum \| Aggregate stock options
Stock options, Grant Date Fair Value Valuation
Expected term	P5Y
Maximum \| Aggregate stock options
Stock options, Grant Date Fair Value Valuation
Expected term	P6Y3M
100% over a period of one year from the grant date \| Employee stock options
Stock options, Grant Date Fair Value Valuation
Vesting period	1 year
33% over a period of three years from the grant date \| Employee stock options
Stock options, Grant Date Fair Value Valuation
Vesting period	3 years
25% over a period of four years from the grant date \| Employee stock options
Stock options, Grant Date Fair Value Valuation
Vesting period	4 years

STOCK-BASED COMPENSATION (Details - RSA & RSU Rollforwards)	9 Months Ended
	Sep. 30, 2019 $ / 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)	201,568
Granted (in shares)	58,689
Vested (in shares)	(72,908)
Forfeited (in shares)	(32,971)
Nonvested at the end of the period (in shares)	154,378
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	$ 225.48
Granted (in dollars per share) \| $ / shares	317.31
Vested (in dollars per share) \| $ / shares	192.00
Forfeited (in dollars per share) \| $ / shares	288.97
Nonvested at the end of the period (in dollars per share) \| $ / shares	$ 262.64
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)	92,481
Granted (in shares)	0
Vested (in shares)	(40,458)
Forfeited (in shares)	(31,049)
Nonvested at the end of the period (in shares)	20,974
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	$ 182.28
Granted (in dollars per share) \| $ / shares	0
Vested (in dollars per share) \| $ / shares	204.78
Forfeited (in dollars per share) \| $ / shares	212.09
Nonvested at the end of the period (in dollars per share) \| $ / shares	$ 214.58
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)	71,412
Granted (in shares)	0
Vested (in shares)	(17,853)
Forfeited (in shares)	0
Nonvested at the end of the period (in shares)	53,559
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
STOCK-BASED COMPENSATION
Maximum number of shared to be earned	44,545
Percentage of target number of shares	167.00%
Performance Awards Earned	29,601
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

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Line Items]
Income tax (expense) benefit	$ (1,889)	$ 10,534	$ 11,552	$ 63,716
Effective tax rates (as a percent)	7.20%	(59.10%)	(43.70%)	(140.50%)
Federal statutory income tax rate (as a percentage)			21.00%
Income tax expense - excluding excess tax benefit on stock compensation	$ 4,705	$ 3,787	$ 4,989	$ 11,475
Excess tax benefits on stock compensation	2,816	$ 14,321	16,541	$ 75,191
Federal
Income Tax Disclosure [Line Items]
Tax benefit from federal research tax credit	$ 1,900		$ 1,900

DEBT (Details - Convertible Senior Notes) $ / shares in Units, $ in Thousands		9 Months Ended
	May 31, 2017 USD ($) day $ / shares Rate shares	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Aggregate principal amount of convertible senior notes	$ 300,000	$ 299,997		$ 300,000
Annual interest rate on convertible senior notes \| Rate	0.625%
Initial conversion rate, shares per $1,000 principal amount of notes \| shares	4.8163
Initial conversion price per share \| $ / shares	$ 207.63
Conversion rate, sales price of common stock as a percentage of the conversion price \| Rate	130.00%
Threshold trading days \| day	5
Threshold consecutive trading days \| day	5
Conversion rate, sales price of common stock as a percentage of the conversion price, five business days \| Rate	98.00%
Cash repurchase at a price equal to the principal amount of the notes, Percentage \| Rate	100.00%
Nonconvertible debt borrowing rate at the date of issuance \| Rate	5.36%
Debt component of the principal amount of the Convertible Senior Notes	$ 238,400
Equity component of the principal amount of the Convertible Senior Notes	61,600
Financing costs related to the issuance of the Convertible Senior Notes	9,300
Debt issuance costs, liability component	7,400	4,178		5,252
Debt issuance costs, equity component	$ 1,900
Total interest expense on the Convertible Senior Notes		11,500	$ 10,900
Interest expense recognized associated with the 0.625% coupon rate		1,400	1,400
Amortization of convertible debt discount		8,959	8,497
Amortization of debt issuance costs		1,463	1,308
Long-term debt		260,973		250,943
Fair value of the Convertible Senior Notes using a Level 1 observable input		482,700
Unamortized debt discount		34,846		$ 43,805
Convertible Notes Payable [Member]
Debt Instrument [Line Items]
Amortization of debt issuance costs		$ 1,100	$ 1,000

DEBT (Details - Convertible Note Hedge and Warrant Transactions) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	May 31, 2017	Sep. 30, 2019	May 24, 2017
Debt Instrument [Line Items]
Net proceeds from the Convertible Notes used to pay for the cost of the Convertible Note Hedge	$ 18.1
Payment of convertible note hedge transactions	$ 61.5
Number of shares covered by the hedge transactions	1.4
Initial conversion price per share	$ 207.63
Strike price of warrants sold	$ 266.39
Premium of warrant strike price over sales price of common stock	70.00%
Share price		$ 310.43	$ 156.70
Proceeds from the sale of warrants	$ 43.4

DEBT (Details - Revolving Credit Facility)		9 Months Ended
DEBT (Details - Revolving Credit Facility)	Nov. 21, 2017 USD ($)	Sep. 30, 2019 USD ($) Rate	Sep. 30, 2018 USD ($)	Dec. 31, 2018 USD ($) Rate	Oct. 26, 2018 USD ($)
Line of Credit Facility [Line Items]
Long-term Debt, Current Maturities		$ 85,000,000		$ 125,000,000
Long-term Debt, Weighted Average Interest Rate, at Point in Time \| Rate		3.55%		4.02%
Ratio of Debt to EBITDA Step-Down	4.0
Ratio of Debt to EBITDA Increase	0.5
Interest Expense, Debt		$ 11,500,000	$ 10,900,000
Debt Instrument, Unused Borrowing Capacity, Fee		500,000	600,000
Amortization of debt issuance costs		1,463,000	1,308,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Current borrowing capacity	$ 250,000,000.0				$ 350,000,000.0
Revolving Credit Facility, term	5 years
Revolving Credit Facility, conditional increase to borrowing capacity	$ 100,000,000.0
Increase in borrowing capacity					100,000,000.0
Revolving Credit Facility, collateral, percent of assets	100.00%
Revolving Credit Facility, collateral, percent of equity	100.00%
Revolving Credit Facility, letter of credit fronting fee percentage	0.125%
Fees and expense paid to lenders at closing					$ 500,000
Line of Credit Facility, Collateral, Percent of Domestic Subsidiaries Equity	100.00%
Line of Credit Facility, Collateral, Percent of Voting Equity	66.00%
Line of Credit Facility, Collateral, Percent of Non-Voting Equity	100.00%
Swingline Facility [Member]
Line of Credit Facility [Line Items]
Current borrowing capacity	$ 10,000,000.0
Letters of Credit [Member]
Line of Credit Facility [Line Items]
Current borrowing capacity	$ 10,000,000.0
Fed Funds Effective Rate Overnight Index Swap Rate [Member] \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	0.50%
London Interbank Offered Rate (LIBOR) [Member] \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	1.00%
Minimum \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving Credit Facility, unused capacity, commitment fee percentage	0.25%
Revolving Credit Facility, letter of credit participation fee percentage	1.25%
Minimum \| London Interbank Offered Rate (LIBOR) [Member] \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	1.25%
Minimum \| Base Rate [Member] \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	0.25%
Maximum
Line of Credit Facility [Line Items]
Ratio of Debt to EBITDA to Increase Revolving Commitment	2.50
Ratio of Debt to EBITDA	4.5
Maximum \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving Credit Facility, unused capacity, commitment fee percentage	0.45%
Revolving Credit Facility, letter of credit participation fee percentage	2.00%
Maximum \| London Interbank Offered Rate (LIBOR) [Member] \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	2.00%
Maximum \| Base Rate [Member] \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving Credit Facility, basis spread on variable rate	1.00%
Revolving Credit Facility, Borrowings At Base Rate Plus LIBOR [Member]
Line of Credit Facility [Line Items]
Interest Expense, Debt		4,200,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest Expense, Debt		5,100,000
Amortization of debt issuance costs		400,000	$ 300,000
Revolving Credit Facility, 31 Day Borrowing \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Long-term Debt, Current Maturities		50,000,000.0
Revolving Credit Facility, 32 Day Borrowing \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Long-term Debt, Current Maturities		$ 35,000,000.0

FAIR VALUE MEASUREMENTS (Details) - USD ($)	3 Months Ended		9 Months Ended
FAIR VALUE MEASUREMENTS (Details) - USD ($)	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Oct. 31, 2018	Jun. 11, 2018	Sep. 19, 2017	Jun. 14, 2017	May 31, 2017
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Annual interest rate on convertible senior notes									0.625%
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 50,219,000	$ 15,241,000	$ 38,837,000	$ 57,349,000
Change in fair value of contingent consideration	3,839,000	2,105,000	21,221,000	1,197,000
Contingent consideration additions	0	0	0	5,800,000
Contingent consideration payments	0	(1,000,000)	(6,000,000)	(48,000,000)
Ending balance	$ 54,058,000	$ 16,346,000	$ 54,058,000	$ 16,346,000
Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration					$ 0	$ 4,400,000	$ 3,000,000.0	$ 0
Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration					$ 70,200,000	$ 8,800,000	$ 6,000,000.0	$ 1,000,000.0

SEGMENT INFORMATION (Details)	3 Months Ended		9 Months Ended
SEGMENT INFORMATION (Details)	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Sep. 30, 2019 USD ($) segment	Sep. 30, 2018 USD ($)
Segment Information
Number of reportable segments \| segment			1
Revenue	$ 310,605,000	$ 197,057,000	$ 851,416,000	$ 562,193,000
Mortgage products
Segment Information
Revenue	62,004,000	55,287,000	162,606,000	195,697,000
Non-mortgage products
Segment Information
Revenue	$ 248,601,000	$ 141,770,000	$ 688,810,000	$ 366,496,000

DISCONTINUED OPERATIONS (Details-Disposal Groups) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 31, 2016	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jul. 21, 2019	Dec. 31, 2018	May 31, 2017	Jun. 06, 2012
DISCONTINUED OPERATIONS
Assets		$ 979,191		$ 979,191			$ 896,115
Revenue and net income (loss) of discontinued operations
Revenue		0	$ 0	0	$ 0
Loss before income taxes		(27,667)	(3,334)	(29,977)	(11,733)
Income tax benefit		7,468	700	7,953	2,464
Loss from discontinued operations		(20,199)	(2,634)	(22,024)	(9,269)
Assets and liabilities of facilities reported as discontinued operations
Disposal Group, Including Discontinued Operation, Other Expense		(32,182)	$ (3,334)	(34,492)	$ (11,733)
Annual interest rate on convertible senior notes								0.625%
Lending Tree Loans \| Discover
DISCONTINUED OPERATIONS
Asset purchase agreement proceeds from sale									$ 55,900
Home Loan Center, Inc.
DISCONTINUED OPERATIONS
Assets						$ 11,200
Assets and liabilities of facilities reported as discontinued operations
Cash						$ 5,900
Dividends	$ 40,000
Discontinued Operations, Disposed of by Means Other than Sale [Member] \| Home Loan Center, Inc.
Assets and liabilities of facilities reported as discontinued operations
Loss recognized		5,500
Net gain related to removal of HLC		4,515		4,515
Recognition of liability		10,000
Discontinued Operations, Disposed of by Means Other than Sale [Member] \| Obligation to Repurchase Receivables Sold [Member] \| Lending Tree Loans
Assets and liabilities of facilities reported as discontinued operations
Current liabilities		(31,000)		(31,000)
Discontinued Operations, Disposed of by Means Other than Sale [Member] \| Discontinued Operations \| Minimum \| Obligation to Repurchase Receivables Sold [Member] \| Lending Tree Loans
Assets and liabilities of facilities reported as discontinued operations
Loss Contingency, Estimate of Possible Loss		0		0
Discontinued Operations, Disposed of by Means Other than Sale [Member] \| Discontinued Operations \| Maximum \| Obligation to Repurchase Receivables Sold [Member] \| Lending Tree Loans
Assets and liabilities of facilities reported as discontinued operations
Loss Contingency, Estimate of Possible Loss		40,000		$ 40,000
Pending Settlement \| Discontinued Operations, Disposed of by Means Other than Sale [Member] \| Obligation to Repurchase Receivables Sold [Member] \| Lending Tree Loans
DISCONTINUED OPERATIONS
Settlement value of indemnification claim and other miscellaneous items		$ 31,000

DISCONTINUED OPERATIONS (Details - Loan Loss Obligations) $ in Millions		1 Months Ended		12 Months Ended
	Jun. 21, 2019 USD ($)	Feb. 29, 2016 defendant	Dec. 31, 2013 USD ($) claim network_lender	Dec. 31, 2018 USD ($) loan
Loan Loss Obligations
Loss Contingency, Damages Sought, Value			$ 61.0
Lehman Brothers Holdings, Inc. Demand Letter
Loan Loss Obligations
Loss Contingency, Damages Sought, Value				$ 40.2
Activity related to loss reserves on previously sold loans
Loss Contingencies, Number of Loans Sold with Losses \| loan				370
Lehman Brothers Holdings, Inc. Demand Letter \| Pending litigation or appeal
Activity related to loss reserves on previously sold loans
Loss Contingency, Number of Defendants \| defendant		149
Residential Funding Co. v Home Loan Center \| Judicial Ruling
Loan Loss Obligations
Settlement offer	$ 68.5
Residential Funding Co. v Home Loan Center \| Judicial Ruling \| Damages
Loan Loss Obligations
Settlement offer	28.7
Residential Funding Co. v Home Loan Center \| Judicial Ruling \| Pre-Verdict Interest
Loan Loss Obligations
Settlement offer	14.1
Residential Funding Co. v Home Loan Center \| Judicial Ruling \| Attorney Fees
Loan Loss Obligations
Settlement offer	23.1
Residential Funding Co. v Home Loan Center \| Judicial Ruling \| Pre-Judgment Interest
Loan Loss Obligations
Settlement offer	$ 2.6
Residential Funding Company \| Pending litigation or appeal
Loan Loss Obligations
Loss Contingency, Number Of Loan Originators \| network_lender			80
Loss Contingency, Pending Claims, Number \| claim			2

CONTINGENCIES (Note)	9 Months Ended
CONTINGENCIES (Note)	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES Overview LendingTree is involved in legal proceedings on an ongoing basis. In assessing the materiality of a legal proceeding, the Company evaluates, among other factors, the amount of monetary damages claimed, as well as the potential impact of non-monetary remedies sought by plaintiffs (e.g., injunctive relief) that may require it to change its business practices in a manner that could have a material and adverse impact on the 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 September 30, 2019, the Company had litigation settlement accruals of $0.1 million and $31.0 million in continuing operations and discontinued operations, respectively. As of December 31, 2018, the Company had litigation settlement accruals of $0.2 million and $8.0 million in continuing operations and discontinued operations, respectively. The litigation settlement accruals relate to litigation matters that were either settled or a firm offer for settlement was extended, thereby establishing an accrual amount that is both probable and reasonably estimable. See Note 17—Discontinued Operations for additional information.

CONTINGENCIES (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Contingencies
Accrued litigation liability	$ 0.1	$ 0.2
Discontinued Operations, Disposed of by Sale
Contingencies
Accrued litigation liability	$ 31.0	$ 8.0

GOODWILL AND INTANGIBLE ASSETS (Details - Goodwill and Indefinite-Lived Intangibles)	9 Months Ended
	Sep. 30, 2019 segment
Goodwill and Intangible Assets Disclosure [Abstract]
Number of reportable segments	1