Company: MTCH
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000891103-25-000027
Chunk: 30

Company: Match Group, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 30
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 Revenue Service (“IRS”) has substantially completed its audit of the Company’s federal income tax returns for years through December 31, 2019. Although the 2020 tax year is closed to assessment, adjustments to taxable income may still be made if it impacts net operating loss or credit carryforwards coming out of that year. Returns filed in various other jurisdictions are open to examination for tax years beginning with 2013. Although we believe that we have adequately reserved for our uncertain tax positions, the final tax outcome of these matters may vary significantly from our estimates.At December 31, 2024 and 2023, unrecognized tax benefits, including interest, were $50.3 million and $45.8 million, respectively. If unrecognized tax benefits at December 31, 2024 are subsequently recognized, $46.6 million, net of related deferred tax assets and interest, would reduce income tax expense. The comparable amount as of December 31, 2023 was $41.0 million. The Company believes that it is reasonably possible that its unrecognized tax benefits could decrease by approximately $0.1 million by December 31, 2025, primarily due to settlements and expirations of statutes of limitations.Generally, our ability to distribute the $260.0 million cash and cash equivalents held by our foreign subsidiaries at December 31, 2024 is limited to that subsidiary’s distributable reserves and after considering other corporate legal restrictions. The remaining excess of the amount for financial reporting over the tax basis of investments in foreign subsidiaries is indefinitely reinvested, and the determination of any deferred tax liability on this amount is not practicable.

NOTE 4—DISCONTINUED OPERATIONSSeparation of Match Group and IACOn June 30, 2020, the companies formerly known as Match Group, Inc. (referred to as “Former Match Group”) and IAC/InterActiveCorp (referred to as “Former IAC”) completed the separation of the Company from IAC through a series of transactions that resulted in two, separate public companies—(1) Match Group, which consists of the businesses of Former Match Group and certain financing subsidiaries previously owned by Former IAC, and (2) IAC/InterActiveCorp, formerly known as IAC Holdings, Inc. (“IAC”), consisting of Former IAC’s businesses other than Match Group (the “Separation”).As a result of the Separation, the operations of Former IAC businesses other than Match Group, and