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Gridsand Metricsq320041 IAC/InterActiveCorp Q3 2004 Earnings Supplemental Financial Information, Metrics and Operating Highlights Table of Contents Page(s) Financial Information: Segment Results 2 - 4 Operating Metrics: Gross Transaction Value & International Revenue 5 IAC Travel 6 Electronic Retailing 7 Ticketing and Personals 8 Financial Services & Real Estate 9 Operating Highlights 10 IAC/InterActiveCorp Segment Results and Reconciliations ($ in millions, rounding differences may exist) 2002 2003 2004 FYE 12/31 Q1 Q2 Q3 Q4 FYE 12/31 Q1 Q2 Q3 Q4 FYE 12/31 Revenue IAC Travel (a) (b)$ 1,599.4 $ 545.1 $ 653.4 $ 734.3 $ 677.4 $ 2,610.1 $ 494.0 $ 555.5 $ 570.5 Electronic Retailing: HSN U.S. (c) 1,613.2 415.0 404.4 423.0 521.3 1,763.7 467.8 438.2 437.1 HSN International 309.0 115.2 122.8 103.0 125.7 466.7 120.2 108.0 107.7 Total Electronic Retailing 1,922.2 530.2 527.1 526.0 647.1 2,230.4 588.0 546.2 544.7 Ticketing 655.3 195.1 187.5 177.6 183.0 743.2 202.3 195.1 182.0 Personals 125.8 40.9 48.2 48.3 47.9 185.3 48.8 48.5 49.7 IAC Local and Media Services 30.8 8.4 45.2 29.2 147.5 230.3 32.1 51.5 51.1 Financial Services and Real Estate - - - 24.4 31.4 55.8 39.7 44.6 47.9 Teleservices 294.1 70.8 69.5 75.8 78.2 294.3 71.8 72.5 74.5 Intersegment Elimination (11.3) (3.7) (4.4) (5.2) (7.9) (21.3) (6.0) (12.8) (15.4) Total Revenue $ 4,616.4 $ 1,386.7 $ 1,526.5 $ 1,610.3 $ 1,804.6 $ 6,328.1 $ 1,470.7 $ 1,501.2 $ 1,505.1 Operating Income Before Amortization IAC Travel (b)$ 279.8 $ 103.7 $ 132.5 $ 137.5 $ 150.2 $ 523.8 $ 127.6 $ 170.6 $ 174.9 Electronic Retailing: HSN U.S. (c) (d) 131.4 30.6 39.8 40.8 57.0 168.3 41.6 41.6 43.1 HSN International (e) (61.6) 15.0 6.8 1.9 9.0 32.6 4.7 5.0 9.3 Total Electronic Retailing 69.8 45.6 46.6 42.7 66.0 200.9 46.3 46.6 52.4 Ticketing 108.1 41.4 36.1 32.3 34.6 144.5 46.8 46.7 32.5 Personals (f) 28.4 2.7 10.2 9.8 8.3 31.0 6.3 9.5 4.5 IAC Local and Media Services (32.3) (6.8) (4.3) (17.5) 54.8 26.2 (13.6) (12.0) (4.6) Financial Services and Real Estate - - - 2.9 (1.7) 1.2 3.1 5.6 6.5 Teleservices (g) (4.1) 1.9 1.7 2.3 6.6 12.5 3.2 4.2 5.9 Interactive Development (2.6) (1.1) (1.2) (0.8) (0.8) (3.8) (1.0) (1.8) (1.2) Corporate expense and other adjustments (55.5) (13.3) (18.2) (17.6) (26.4) (75.5) (21.7) (19.3) (18.0) Intersegment Elimination (2.4) (0.3) (0.5) - - (0.8) 0.4 - - Total Operating Income Before Amortization $ 389.1 $ 173.9 $ 202.9 $ 191.7 $ 291.5 $ 860.1 $ 197.6 $ 250.1 $ 252.9 Amortization, merger costs and pro forma adjustments (h) IAC Travel$ 101.9 $ 33.8 $ 43.8 $ 57.4 $ 41.9 $ 176.9 $ 42.9 $ 41.2 $ 40.9 Electronic Retailing: HSN U.S. 32.6 12.2 12.2 13.2 13.2 50.8 13.2 13.2 13.2 HSN International 0.7 0.4 0.3 0.3 0.3 1.3 0.3 0.3 0.3 Total Electronic Retailing 33.3 12.5 12.5 13.6 13.6 52.1 13.6 13.6 13.6 Ticketing 11.1 7.1 7.9 7.7 5.3 28.0 6.2 6.2 7.2 Personals 5.8 2.1 2.6 5.4 6.8 16.9 3.5 1.7 1.7 IAC Local and Media Services 54.0 12.6 14.9 13.8 14.3 55.6 14.2 15.8 13.5 Financial Services and Real Estate - - - 7.8 9.9 17.7 6.6 6.8 6.7 Teleservices (g) 22.2 - - - - - - - - Interactive Development 2.9 1.1 1.1 - - 2.1 - 0.3 0.2 Corporate expense and other adjustments 9.4 5.7 8.4 75.2 21.1 110.5 68.1 54.4 57.0 Intersegment Elimination (4.1) - - - - - - - - Total amortization, merger costs and pro forma adj. $ 236.5 $ 75.0 $ 91.1 $ 180.9 $ 112.9 $ 459.9 $ 155.0 $ 140.0 $ 140.9 2 IAC/InterActiveCorp Segment Results and Reconciliations ($ in millions, rounding differences may exist) 2002 2003 2004 FYE 12/31 Q1 Q2 Q3 Q4 FYE 12/31 Q1 Q2 Q3 Q4 FYE 12/31 Operating income IAC Travel (b)$ 177.9 $ 69.9 $ 88.7 $ 80.1 $ 108.3 $ 347.0 $ 84.7 $ 129.3 $ 134.0 Electronic Retailing: HSN U.S. (c) (d) 98.7 18.5 27.7 27.6 43.8 117.5 28.4 28.3 29.9 HSN International (e) (62.3) 14.6 6.5 1.6 8.7 31.3 4.4 4.7 9.0 Total Electronic Retailing 36.4 33.1 34.1 29.1 52.4 148.8 32.8 33.0 38.9 Ticketing 96.9 34.3 28.2 24.7 29.2 116.5 40.7 40.5 25.2 Personals (f) 22.6 0.6 7.6 4.4 1.5 14.1 2.8 7.8 2.8 IAC Local and Media Services (86.3) (19.4) (19.2) (31.3) 40.5 (29.4) (27.8) (27.8) (18.1) Financial Services and Real Estate - - - (4.9) (11.6) (16.5) (3.6) (1.2) (0.2) Teleservices (g) (26.4) 1.9 1.7 2.3 6.6 12.5 3.2 4.2 5.9 Interactive Development (5.4) (2.1) (2.2) (0.8) (0.8) (5.9) (1.0) (2.1) (1.4) Corporate expense and other adjustments (64.9) (19.0) (26.6) (92.8) (47.6) (186.0) (89.7) (73.7) (75.1) Intersegment Elimination 1.7 (0.3) (0.5) - - (0.8) 0.4 - - Total operating income $ 152.6 $ 99.0 $ 111.8 $ 10.9 $ 178.6 $ 400.2 $ 42.6 $ 110.1 $ 112.0 Other income, net (i) (39.4) (229.6) 26.3 32.8 32.7 (137.8) 31.8 43.8 30.4 Earnings (loss) from continuing operations before 113.2 (130.6) 138.0 43.7 211.3 262.4 74.4 154.0 142.4 income taxes and minority interest Income tax benefit (expense) (65.1) 54.2 (51.7) (13.1) (60.1) (70.7) (29.2) (59.5) (44.4) Minority interest (46.1) (25.7) (28.4) (8.3) (2.6) (65.0) (1.4) (2.9) (6.4) Earnings (loss) from continuing operations 2.0 (102.2) 57.9 22.3 148.6 126.7 43.8 91.6 91.5 Gain on VUE transaction 2,378.3 - - - - - - - - Discontinued operations (j) 34.2 (4.6) 38.3 (0.3) 7.5 40.7 (2.3) (18.4) 1.2 Earnings (loss) before cum. effect of acc'g change 2,414.5 (106.8) 96.2 22.0 156.0 167.4 41.5 73.2 92.7 Cumulative effect of accounting change (461.4) - - - - - - - Earnings (loss) before preferred dividend 1,953.1 (106.8) 96.2 22.0 156.0 167.4 41.5 73.2 92.7 Preferred dividend (11.8) (3.3) (3.3) (3.3) (3.3) (13.1) (3.3) (3.3) (3.3) Net income (loss) available to common shareholders $ 1,941.3 $ (110.1) $ 92.9 $ 18.7 $ 152.8 $ 154.3 $ 38.3 $ 69.9 $ 89.5 Reconciliation of Net Income to Adjusted EPS Net Income$ 1,941.3 $ (110.1) $ 92.9 $ 18.7 $ 152.8 $ 154.3 $ 38.3 $ 69.9 $ 89.5 Amortization of distribution and marketing expense 37.3 10.5 12.7 21.5 6.7 51.4 6.3 4.7 3.3 Amortization of compensation expense 15.6 10.2 14.4 81.6 22.0 128.2 69.0 55.3 57.8 Amortization of intangibles and goodwill 145.7 52.2 55.6 76.9 83.9 268.5 79.7 79.9 79.8 Goodwill impairment 22.2 - - - - - - - - Merger costs (h) 7.9 2.1 8.4 0.9 0.3 11.8 - - - Gain on contribution of of USA Entertainment to VUE, net of tax (2,378.3) - - - - - - - - Discontinued operations, net of tax (j) (34.2) 4.6 (38.3) 0.3 (7.5) (40.7) 2.3 18.4 (1.2) Cumulative effect of accounting change 461.4 - - - - - - - - Equity gains (losses) in VUE (i) (6.1) 243.3 (4.3) (12.2) (2.4) 224.5 0.4 (11.0) (0.6) Impact of pro forma adjustments, income taxes and minority interest (k) 14.4 (98.2) (3.8) (58.1) (30.9) (191.0) (57.7) (46.3) (50.8) Add back of preferred dividend - - 3.3 - 3.3 13.1 3.3 3.3 3.3 Adjusted Net Income$ 227.3 $ 114.6 $ 141.0 $ 129.6 $ 228.2 $ 620.0 $ 141.4 $ 174.2 $ 181.0 Adjusted EPS weighted average shares outstanding (l) 692.9 699.2 766.1 785.6 790.3 770.1 777.5 776.5 760.8 Adjusted EPS $ 0.33 $ 0.16 $ 0.18 $ 0.17 $ 0.29 $ 0.81 $ 0.18 $ 0.22 $ 0.24 3 IAC/InterActiveCorp Segment Results and Reconciliations ($ in millions, rounding differences may exist) 2002 2003 2004 FYE 12/31 Q1 Q2 Q3 Q4 FYE 12/31 Q1 Q2 Q3 Q4 FYE 12/31 Supplemental: Depreciation by segment IAC Travel $ 22.9 $ 9.4 $ 9.6 $ 15.5 $ 4.8 $ 39.4 $ 10.0 $ 10.1 $ 10.6 Electronic Retailing: HSN U.S.
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