CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares |
Sep. 30, 2021 |
Dec. 31, 2020 |
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Common stock, par value (in usd per share) | $ 0.0001 | $ 0.0001 |
| Common stock, shares authorized (in shares) | 100,500,000 | 100,500,000 |
| Common stock, shares issued (in shares) | 39,873,255 | 39,142,896 |
| Common stock, shares outstanding (in shares) | 29,579,138 | 28,848,779 |
| Treasury stock (in shares) | 10,294,117 | 10,294,117 |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
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| Revenue: | ||||
| Total revenue | $ 214,171,000 | $ 304,019,000 | $ 743,946,000 | $ 1,073,815,000 |
| Cost of revenue: | ||||
| Total cost of revenue | 32,732,000 | 143,997,000 | 201,581,000 | 575,320,000 |
| Gross profit | 181,439,000 | 160,022,000 | 542,365,000 | 498,495,000 |
| Operating expenses: | ||||
| Marketing | 53,159,000 | 31,386,000 | 130,545,000 | 116,758,000 |
| Selling, general and administrative | 119,494,000 | 124,257,000 | 384,606,000 | 475,017,000 |
| Goodwill impairment | 0 | 0 | 0 | 109,486,000 |
| Long-lived asset impairment | 0 | 0 | 0 | 22,351,000 |
| Restructuring and related charges | 12,483,000 | 20,559,000 | 34,150,000 | 61,037,000 |
| Total operating expenses | 185,136,000 | 176,202,000 | 549,301,000 | 784,649,000 |
| Income (loss) from operations | (3,697,000) | (16,180,000) | (6,936,000) | (286,154,000) |
| Other income (expense), net | 82,533,000 | (867,000) | 97,729,000 | (21,549,000) |
| Income (loss) from continuing operations before provision (benefit) for income taxes | 78,836,000 | (17,047,000) | 90,793,000 | (307,703,000) |
| Provision (benefit) for income taxes | 135,000 | (486,000) | 773,000 | (7,170,000) |
| Income (loss) from continuing operations | 78,701,000 | (16,561,000) | 90,020,000 | (300,533,000) |
| Income (loss) from discontinued operations, net of tax | 0 | 0 | 0 | 382,000 |
| Net income (loss) | 78,701,000 | (16,561,000) | 90,020,000 | (300,151,000) |
| Net (income) loss attributable to noncontrolling interests | (594,000) | 291,000 | (737,000) | (1,758,000) |
| Net income (loss) attributable to Groupon, Inc. | $ 78,107,000 | $ (16,270,000) | $ 89,283,000 | $ (301,909,000) |
| Basic net income (loss) per share: | ||||
| Continuing operations (in usd per share) | $ 2.64 | $ (0.57) | $ 3.05 | $ (10.59) |
| Discontinued operations (in usd per share) | 0 | 0 | 0 | 0.01 |
| Basic net income (loss) per share (in usd per share) | 2.64 | (0.57) | 3.05 | (10.58) |
| Diluted net income (loss) per share: | ||||
| Continuing operations (in usd per share) | 2.36 | (0.57) | 2.80 | (10.59) |
| Discontinued operations (in usd per share) | 0 | 0 | 0 | 0.01 |
| Diluted net income (loss) per share (in usd per share) | $ 2.36 | $ (0.57) | $ 2.80 | $ (10.58) |
| Weighted average number of shares outstanding: | ||||
| Basic (in shares) | 29,567,802 | 28,751,520 | 29,282,932 | 28,535,393 |
| Diluted (in shares) | 33,364,538 | 28,751,520 | 32,393,891 | 28,535,393 |
| Comprehensive income (loss): | ||||
| Net income (loss) | $ 78,701,000 | $ (16,561,000) | $ 90,020,000 | $ (300,151,000) |
| Other comprehensive income (loss): | ||||
| Net change in unrealized gain (loss) on foreign currency translation adjustments | 6,770,000 | (11,786,000) | (46,353,000) | (21,379,000) |
| Reclassification of cumulative foreign currency translation adjustments (See Note 9) | (16,000) | 0 | 32,268,000 | 0 |
| Other comprehensive income (loss) | 6,754,000 | (11,786,000) | (14,085,000) | (21,379,000) |
| Comprehensive income (loss) | 85,455,000 | (28,347,000) | 75,935,000 | (321,530,000) |
| Comprehensive (income) loss attributable to noncontrolling interest | (594,000) | 291,000 | (737,000) | (1,758,000) |
| Comprehensive income (loss) attributable to Groupon, Inc. | 84,861,000 | (28,056,000) | 75,198,000 | (323,288,000) |
| Service | ||||
| Revenue: | ||||
| Total revenue | 198,976,000 | 155,073,000 | 577,761,000 | 474,478,000 |
| Cost of revenue: | ||||
| Total cost of revenue | 19,127,000 | 17,005,000 | 58,719,000 | 60,162,000 |
| Product | ||||
| Revenue: | ||||
| Total revenue | 15,195,000 | 148,946,000 | 166,185,000 | 599,337,000 |
| Cost of revenue: | ||||
| Total cost of revenue | 13,605,000 | 126,992,000 | 142,862,000 | 515,158,000 |
| Continuing Operations | ||||
| Other comprehensive income (loss): | ||||
| Other comprehensive income (loss) | 6,754,000 | (11,786,000) | (14,085,000) | (21,379,000) |
| Discontinued Operations | ||||
| Other comprehensive income (loss): | ||||
| Other comprehensive income (loss) | $ 0 | $ 0 | $ 0 | $ 0 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
Sep. 30, 2020 |
Dec. 31, 2019 |
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| Restricted Cash [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | $ 476,782 | $ 850,587 | $ 778,967 | $ 750,887 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restricted cash included in prepaid expenses and other current assets | 498 | 498 | 315 | 1,534 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restricted cash included in other non-current assets | 0 | 0 | 239 | 236 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash, cash equivalents and restricted cash | [1] | $ 477,280 | $ 851,085 | $ 779,521 | $ 752,657 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION |
9 Months Ended |
|---|---|
Sep. 30, 2021 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION | DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Company Information Groupon, Inc. and its subsidiaries, which commenced operations in October 2008, is a global scaled two-sided marketplace that connects consumers to merchants by offering goods and services, generally at a discount. Consumers access those marketplaces through our mobile applications and our websites, primarily localized groupon.com sites in many countries. Our operations are organized into two segments: North America and International. See Note 13, Segment Information. COVID-19 Pandemic Since March 2020, the COVID-19 pandemic has led to a significant decrease in consumer demand and active customers, a decrease in customer redemptions and elevated refund levels due to changes in consumer behavior and protective measures taken to control the spread of COVID-19. The ongoing COVID-19 pandemic has had an adverse impact on our financial condition, results of operations and cash flows, which has included impairments of our goodwill and long-lived assets. Recovery from the COVID-19 pandemic could be volatile and prolonged given the unprecedented and continuously-evolving nature of the situation. Unaudited Interim Financial Information We have prepared the accompanying condensed consolidated financial statements pursuant to the rules and regulations of the SEC for interim financial reporting. These condensed consolidated financial statements are unaudited and, in our opinion, include all adjustments, consisting of normal recurring adjustments and accruals, necessary for a fair presentation of the condensed consolidated balance sheets, statements of operations and comprehensive income (loss), cash flows and stockholders' equity for the periods presented. These condensed consolidated financial statements and notes should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2020. Principles of Consolidation The condensed consolidated financial statements include the accounts of Groupon, Inc. and its wholly-owned subsidiaries, majority-owned subsidiaries over which we exercise control and variable interest entities for which we are the primary beneficiary. All intercompany accounts and transactions have been eliminated in consolidation. Outside stockholders' interests in subsidiaries are shown on the condensed consolidated financial statements as Noncontrolling interests. Investments in entities in which we do not have a controlling financial interest are accounted for at fair value, as available-for-sale securities or at cost adjusted for observable price changes and impairments, as appropriate. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Estimates in our financial statements include, but are not limited to, the following: variable consideration from unredeemed vouchers; income taxes; leases; initial valuation and subsequent impairment testing of goodwill, other intangible assets and long-lived assets; investments; receivables; customer refunds and other reserves; contingent liabilities; and the useful lives of property, equipment and software and intangible assets. Actual results could differ materially from those estimates. Reclassifications Certain reclassifications have been made to the condensed consolidated financial statements of prior periods to conform to the current period presentation. Adoption of New Accounting Standards We adopted the guidance in Accounting Standards Update ("ASU") 2019-12, Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes, on January 1, 2021. This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The adoption of ASU 2019-12 did not have a material impact on the condensed consolidated financial statements. We adopted the guidance in ASU 2020-03, Codification Improvements to Financial Instruments, on January 1, 2021. This ASU amends a wide variety of Topics in the Codification, including revolving-debt arrangements and allowance for credit losses related to leases. The adoption of ASU 2020-03 did not have a material impact on the condensed consolidated financial statements. We early adopted the guidance in ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity, on January 1, 2021. The ASU removes the separation models for convertible debt with a cash conversion feature or convertible instruments with a beneficial conversion feature. Additionally, the ASU removes certain conditions for equity classification related to contracts in an entity’s own equity (e.g., warrants) and amends certain guidance related to the computation of income (loss) per share for convertible instruments and contracts in an entity’s own equity. Prior to the adoption of ASU 2020-06, we separated the convertible senior notes due 2022 (the "Atairos Notes") into their liability and equity components. Following the adoption of ASU 2020-06, the previously bifurcated equity component of the Atairos Notes was recombined with the liability component, resulting in a single liability-classified instrument. The carrying value of the Atairos Notes at transition was determined by recalculating the basis of the Atairos Notes as if the conversion option had not been bifurcated at issuance. Transaction costs related to the issuance of the Atairos Notes that were allocated to the equity component were reclassified out of Additional paid-in-capital and the amortization and the related debt discount associated with these costs was recalculated through the transition date. The transaction costs were recorded as a debt discount in the condensed consolidated balance sheets and amortized to interest expense over the remaining term of the Atairos Notes. Together with the cash interest, this resulted in an effective interest rate of 3.76%. As a result of adopting ASU 2020-06, we recorded a $67.0 million net reduction to additional paid-in capital, a $19.0 million increase to Convertible senior notes, net and a $48.0 million reduction to our opening accumulated deficit as of January 1, 2021. See Note 5, Financing Arrangements, for additional information.
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GOODWILL AND LONG-LIVED ASSETS |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GOODWILL AND LONG-LIVED ASSETS | GOODWILL AND LONG-LIVED ASSETS The following table summarizes goodwill activity by segment for the nine months ended September 30, 2021 (in thousands):
(1)Represents the reclassification between Right-of-use assets - operating leases, net and Goodwill due to an adjustment in the allocation of impairments recorded in 2020 between those two accounts. In accordance with ASC Topic 350, Intangibles — Goodwill and Other, we evaluate goodwill for impairment annually on October 1 or more frequently when an event occurs or circumstances change that indicates the carrying value may not be recoverable. We also review our long-lived assets, such as property, equipment and software, right-of-use assets and intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. During the third quarter 2021, we determined the prolonged recovery from the pandemic, particularly in our International segment, and the sustained decrease in our stock price required us to evaluate our goodwill and long-lived assets for impairment. We determined there was no impairment for goodwill; however, we recognized impairment in our right-of-use assets and leasehold improvements under our restructuring plan as noted below. In order to evaluate goodwill for impairment in the third quarter 2021, we compared the fair values of our two reporting units, North America and International, to their carrying values. In determining the fair values of our reporting units, we used the discounted cash flow method under the income approach and the market multiple valuation approach that use Level 3 inputs. The fair value of the reporting units exceeded the carrying value, therefore we concluded that goodwill was not impaired for either of our reporting units during the third quarter 2021. Due to the circumstances described above, during the third quarter 2021, we evaluated our long-lived assets for impairment. We determined the carrying amount for certain right-of-use assets and leasehold improvements related to our restructuring plan were not fully recoverable due to changes in sublease assumptions. These assets, classified as Level 3 inputs, were written down to fair value based on the discounted cash flow method under the income approach for the three and nine months ended September 30, 2021. See Note 9, Restructuring and Related Charges, for more information on our restructuring and related charges impairments and details in the table below. During the first quarter 2020, the significant deterioration in our financial performance due to the disruption in our operations from COVID-19 and the sustained decreased in our stock price required us to evaluate our goodwill and long-lived assets for impairment. In determining fair values of our reporting units, we used the discounted cash flow method and the market multiple valuation approach that use Level 3 inputs. For the nine months ended September 30, 2020, we recognized $109.5 million of goodwill impairment and $22.4 million of long-lived asset impairment within our International segment related to our EMEA operations. During the three and nine months ended September 30, 2020, we recognized long-lived asset impairments of $3.3 million and $17.2 million for certain asset groups due to actions taken under our restructuring plan. See Note 9, Restructuring and Related Charges, for additional information. Future events and changing market conditions due to the impact of COVID-19 may require us to re-evaluate the estimates used in our fair value measurements, which could result in additional impairment of long-lived assets or goodwill in future periods that may have a material effect on our operating results. Impairment charges are presented within the following line items of the condensed consolidated statements of operations for the three and nine months ended September 30, 2021 and 2020 (in thousands):
The following table summarizes impairment for long-lived assets and restructuring and related charges by asset type for the three and nine months ended September 30, 2021 and 2020 (in thousands):
The following table summarizes intangible assets as of September 30, 2021 and December 31, 2020 (in thousands):
Amortization of intangible assets is computed using the straight-line method over their estimated useful lives, which range from 1 to 10 years. Amortization expense related to intangible assets was $2.1 million and $2.5 million for the three months ended September 30, 2021 and 2020 and $6.7 million and $7.4 million for the nine months ended September 30, 2021 and 2020. As of September 30, 2021, estimated future amortization expense related to intangible assets is as follows (in thousands):
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INVESTMENTS |
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| Equity Method Investments and Joint Ventures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INVESTMENTS | INVESTMENTS As of September 30, 2021 and December 31, 2020, our carrying value in other equity investments was $122.9 million and $37.7 million. We hold available-for-sale securities and fair value option investments in various entities that had a carrying value of zero as of September 30, 2021 and December 31, 2020. Our percentage ownership in these investments for the periods reported was as follows:
During the first quarter 2020, we recognized a $1.4 million loss from changes in the fair value of our fair value option investments. Other Equity Investments Other equity investments represent equity investments without readily determinable fair values recorded at cost adjusted for observable price changes and impairments. During the third quarter 2021, we adjusted the carrying value of an other equity investment in a mobile payments company due to an observable price change in an orderly transaction, which resulted in an unrealized gain of $89.1 million for the three and nine months ended September 30, 2021. During the third quarter 2021, we also sold 100% of our shares in an other equity investment for total cash consideration of $2.6 million and recognized a gain of $2.2 million. In the second quarter 2021, we divested our shares in an other equity investment and recognized a gain and total cash consideration of $4.2 million. The gains on our investments have been presented in Other income (expense), net in the condensed consolidated statements of operations for the applicable three and nine months ended September 30, 2021. During the first quarter 2020, we sold 50% of our shares in an other equity investment for total cash consideration of $34.0 million. In addition, we recorded a $6.7 million impairment during the first quarter 2020 to an other equity investment as a result of revised cash flow projections and a deterioration in financial condition due to COVID-19. We did not recognize any impairments during the three and nine months ended September 30, 2021
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SUPPLEMENTAL CONDENSED CONSOLIDATED BALANCE SHEETS AND STATEMENTS OF OPERATIONS INFORMATION |
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| Supplemental Consolidated Balance Sheet & Statement of Operations Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SUPPLEMENTAL CONDENSED CONSOLIDATED BALANCE SHEETS AND STATEMENTS OF OPERATIONS INFORMATION | SUPPLEMENTAL CONDENSED CONSOLIDATED BALANCE SHEETS AND STATEMENTS OF OPERATIONS INFORMATION The following table summarizes other income (expense), net for the three and nine months ended September 30, 2021 and 2020 (in thousands):
(1)Includes an $89.1 million unrealized gain due to an upward adjustment for an observable price change of an other equity investment for the three and nine months ended September 30, 2021. Refer to Note 3, Investments, for additional information. (2)Includes a $32.3 million cumulative foreign currency translation adjustment gain that was reclassified into earnings for the nine months ended September 30, 2021 as a result of the substantial liquidation of our subsidiary in Japan as part of our restructuring actions. See Note 9, Restructuring and Related Charges, for additional information. The following table summarizes prepaid expenses and other current assets as of September 30, 2021 and December 31, 2020 (in thousands):
The following table summarizes other non-current assets as of September 30, 2021 and December 31, 2020 (in thousands):
The following table summarizes accrued merchant and supplier payables as of September 30, 2021 and December 31, 2020 (in thousands):
(1)Includes payables to suppliers of inventories and providers of shipping and fulfillment services. The following table summarizes accrued expenses and other current liabilities as of September 30, 2021 and December 31, 2020 (in thousands):
(1)Includes $2.9 million in certain payroll taxes under the Coronavirus Aid, Relief and Economic Security ("CARES") Act. These amounts are due by December 31, 2021. The following table summarizes other non-current liabilities as of September 30, 2021 and December 31, 2020 (in thousands):
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FINANCING ARRANGEMENTS |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FINANCING ARRANGEMENTS | FINANCING ARRANGEMENTS Adoption of ASU 2020-06 On January 1, 2021, we early adopted ASU 2020-06 using the modified retrospective method. The ASU eliminates the requirement to separately recognize an equity component when accounting for convertible debt that may be cash-settled upon conversion or convertible instruments with a beneficial conversion feature. Additionally, the ASU removes certain conditions for equity classification related to contracts in an entity’s own equity (e.g., warrants) and amends certain guidance related to the computation of income (loss) per share for convertible instruments and contracts in an entity’s own equity. Beginning January 1, 2021, our condensed consolidated financials are presented in accordance with ASU 2020-06, while prior period amounts are not adjusted and continue to be reported in accordance with our historical policies. The new guidance changed the accounting for our 3.25% Convertible Senior Notes, due 2022, as discussed below. 3.25% Convertible Senior Notes due 2022 In April 2016, we issued $250.0 million in aggregate principal amount of convertible senior notes (the "Atairos Notes") in a private placement to A-G Holdings, L.P. In May 2021, we repurchased the Atairos Notes for an aggregate purchase price equal to $255.0 million, consisting of the $250.0 million outstanding principal amount, $1.0 million of accrued interest through the repurchase date and a $4.0 million prepayment penalty. In the second quarter 2021, we recognized a $5.1 million loss on the early extinguishment of the Atairos Notes, which is presented in Other income (expense), net on the condensed consolidated statements of operations. Note Hedges and Warrants In May 2016, we purchased convertible note hedges with respect to our common stock for a cost of $59.1 million from certain bank counterparties. The convertible note hedges were intended to reduce the potential economic dilution upon conversion of the Atairos Notes. We also sold warrants for total cash proceeds of $35.5 million to certain bank counterparties. The amounts paid and received for the convertible note hedges and warrants were recorded in Additional paid-in capital in the condensed consolidated balance sheets as of December 31, 2020. In connection with the repurchase of the Atairos Notes, we entered into agreements (collectively "the Unwind Agreements") with each of the bank counterparties in May 2021 to unwind the convertible note hedges and warrants. Pursuant to the terms of the Unwind Agreements, we received cash proceeds of $2.3 million for the settlement of the convertible note hedges and paid cash consideration of $1.3 million for the settlement of the warrants. 1.125% Convertible Senior Notes due 2026 In March and April 2021, we issued $230.0 million aggregate principal amount of convertible senior notes due 2026 (the "2026 Notes") in a private offering to qualified institutional buyers. The net proceeds from this offering were $222.1 million. The 2026 Notes bear interest at a rate of 1.125% per annum, payable semiannually in arrears on March 15 and September 15 of each year, which began on September 15, 2021. The 2026 Notes will mature on March 15, 2026, subject to earlier repurchase, redemption or conversion. We used $27.4 million of the net proceeds from the offering to pay the cost of certain related capped call transactions and used the remaining net proceeds, together with cash on hand, to repurchase the Atairos Notes. Each $1,000 of principal amount of the 2026 Notes initially is convertible into 14.6800 shares of common stock, which is equivalent to an initial conversion price of $68.12 per share, subject to adjustment upon the occurrence of specified events. In addition, upon the occurrence of a make-whole fundamental change, as defined in the Indenture governing the 2026 Notes (the "Indenture"), or if we issue a notice of redemption, we will, in certain circumstances, increase the conversion rate by a number of additional shares for a holder that elects to convert its 2026 Notes in connection with such make-whole fundamental change or redemption. Upon conversion, we can elect to settle the conversion value in cash, shares of our common stock, or any combination of cash and shares of our common stock. Subject to certain conditions, holders of the 2026 Notes may convert the 2026 Notes at their option at any time until the close of business on the scheduled trading day immediately preceding the maturity date. In addition, if specified corporate events occur prior to the maturity date, we may be required to increase the conversion rate for holders who elect to convert based on the effective date of such event and the applicable stock price attributable to the event. Based on the closing price of the common stock of $22.81 as of September 30, 2021, the if-converted value of the 2026 Notes was less than the principal amount. Certain conditions apply to the conversion by holders and redemption by us of the 2026 Notes, which are set forth in the Indenture governing the 2026 Notes. In addition, upon the occurrence of a fundamental change (as defined in the Indenture) prior to the maturity date, holders may require us to repurchase all or a portion of the 2026 Notes for cash. The 2026 Notes are our senior unsecured obligations and will rank senior in right of payment to any of our indebtedness that is expressly subordinated in right of payment to the 2026 Notes; equal in right of payment to any of our unsecured indebtedness that is not so subordinated; effectively junior in right of payment to any of our secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities of current or future subsidiaries (including trade payables). The Indenture includes customary events of default. If an event of default, as defined in the Indenture, occurs and is continuing, the principal amount of the 2026 Notes and any accrued and unpaid interest may be declared immediately due and payable. In the case of bankruptcy or insolvency, the principal amount of the 2026 Notes and any accrued and unpaid interest would automatically become immediately due and payable. We account for the 2026 Notes as a single liability-classified instrument measured at amortized cost due to the adoption of ASU 2020-06. The carrying value of the 2026 Notes was determined by deducting transaction costs incurred in connection with the issuance of the 2026 Notes of $7.8 million from the principal amount. Those transaction costs were recorded as a debt discount in the condensed consolidated balance sheets and are amortized to interest expense. Together with the cash interest, this results in an effective interest rate of 1.83% over the term of the 2026 Notes. We have presented the 2026 Notes in non-current liabilities in the accompanying condensed consolidated balance sheets. The carrying amount of the 2026 Notes consisted of the following as of September 30, 2021 (in thousands):
We classified the fair value of the 2026 Notes as a Level 3 measurement due to the lack of observable market data over fair value inputs such as our stock price volatility over the term of the 2026 Notes and our cost of debt. The estimated fair value of the 2026 Notes as of September 30, 2021 was $178.9 million and was determined using a lattice model. During the three and nine months ended September 30, 2021 and 2020, we recognized total interest costs on the 2026 Notes and the Atairos Notes as follows (in thousands):
Capped Call Transactions In March and April 2021, in connection with the offering of the 2026 Notes, we entered into privately-negotiated capped call transactions with each of Barclays Bank PLC, BNP Paribas and Mizuho Markets Americas LLC. The capped call transactions cover, subject to customary adjustments, the number of shares of common stock initially underlying the 2026 Notes. The capped call transactions are expected generally to reduce potential dilution to our common stock upon any conversion of the 2026 Notes and/or offset any cash payments we are required to make in excess of the principal amount of converted notes, with such reduction and/or offset subject to a cap initially equal to $104.80 (which represents a premium of 100% over the last reported sale price of our common stock on The Nasdaq Global Select Market on March 22, 2021), subject to certain adjustments under the terms of the capped call transactions. The capped call transactions are accounted for as freestanding derivatives and recorded at the initial fair value in Additional paid-in-capital in the condensed consolidated balance sheets with no recorded subsequent change to fair value as long as they meet the criteria for equity classification. Under the if-converted method, the shares of common stock underlying the conversion option in the 2026 Notes are included in the diluted income (loss) per share denominator and the interest expense and amortization of the debt discount on the 2026 Notes, net of tax, are added to the numerator. However, upon conversion, there will be minimized economic dilution from the 2026 Notes, as exercise of the capped call transactions reduces dilution from the 2026 Notes that would have otherwise occurred when the price of our common stock exceeds the conversion price. The capped call transactions are intended to offset actual dilution from the conversion of the 2026 Notes and to effectively increase the overall conversion price from $68.12 to $104.80 per share. Revolving Credit Agreement In May 2019, we entered into a second amended and restated senior secured revolving credit agreement which provided for aggregate principal borrowings of up to $400.0 million (prior to the Amendments described below) and matures in May 2024. In July 2020, we entered into an amendment to the revolving credit agreement (the "First Amendment") in order to provide us with, among other things, operational flexibility and covenant relief through the end of the first quarter of 2021 in light of the ongoing impacts of COVID-19 on our business. In addition to the covenant relief described below, the First Amendment permanently reduces borrowing capacity under our senior secured revolving credit facility from $400.0 million to $225.0 million. In March 2021, we entered into a second amendment to the revolving credit agreement (the "Second Amendment" and the revolving credit agreement as amended, the "Amended Credit Agreement") to extend the suspension period provided by the First Amendment through the fourth quarter of 2021 (unless terminated by us prior to then) (the "Suspension Period"), amend and remove certain financial covenants applicable after the amended Suspension Period ends and permit the issuance of the 2026 Notes and related capped call transactions. We voluntarily elected to early terminate the Suspension Period as of the third quarter of 2021. We deferred debt issuance costs of $3.5 million as a result of entering into the Amended Credit Agreement. Deferred debt issuance costs are included within Other non-current assets on the condensed consolidated balance sheets as of September 30, 2021 and are amortized to interest expense over the term of the respective agreement. Pursuant to the Amendments, during the Suspension Period, we were exempt from certain covenant restrictions, namely the requirements to maintain a maximum funded indebtedness to Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") ratio and a minimum liquidity balance (including any undrawn amounts under the credit facility) of at least 70% of our accrued merchant and supplier payables balance (which covenant applies again beginning in the third quarter 2021 following our voluntary early termination of the Suspension Period). Additionally, the Amendments provide that, during the Suspension Period, we were required to maintain specified minimum quarterly EBITDA levels and to maintain a monthly minimum liquidity balance (including any undrawn amounts under the credit facility) of at least 100% of our accrued merchant and supplier payables balance for such month plus $50.0 million. The Second Amendment also permanently removes requirements that we maintain (i) a maximum senior secured indebtedness to EBITDA ratio and (ii) unrestricted cash of not less than $250.0 million. Finally, the Second Amendment changes the requirement to maintain a minimum fixed charge coverage ratio to a requirement to maintain a minimum interest coverage ratio. Following our voluntary early termination of the Suspension Period, we are subject to the ordinary course covenants under the Amended Credit Agreement beginning in the third quarter 2021. In addition, under the Amended Credit Agreement, we are subject to various covenants, including customary restrictive covenants that limit our ability to, among other things: incur additional indebtedness; make dividend and other restricted payments, including limiting the amount of our share repurchases; enter into sale and leaseback transactions; make investments, loans or advances; grant or incur liens on assets; sell assets; engage in mergers, consolidations, liquidations or dissolutions; and engage in transactions with related parties and other affiliates. The Amendments further restricted certain of these negative covenants during the Suspension Period, including our ability to make share repurchases, acquisitions, investments and to incur additional indebtedness and liens. As of September 30, 2021, we were in compliance with the applicable covenants under our Amended Credit Agreement. Non-compliance with the covenants under the Amended Credit Agreement may result in termination of the commitments thereunder and any then outstanding borrowings may be declared due and payable immediately. We have the right to terminate the Amended Credit Agreement or reduce the available commitments at any time. The Amendments also increased interest rates through the end of the Suspension Period (i.e., through the third quarter 2021), raising the alternative base rate and Canadian prime spreads to 1.50%, the fixed rate spreads to 2.50% and the commitment fee to 0.40% on the daily amount of the unused commitments under the Amended Credit Agreement. Following the Suspension Period, the applicable spread and commitment fee will revert to pre-Amendment levels, which provides for (a) interest at a rate per annum equal to (i) an adjusted LIBO rate or (ii) a customary base rate (with loans denominated in certain currencies bearing interest at rates specific to such currencies) plus an additional margin ranging between 0.50% and 2.00% and (b) commitment fees ranging from 0.25% to 0.35% on the daily amount of unused commitments. The Amended Credit Agreement also includes a replacement mechanism for the discontinuation of the adjusted LIBO rate. In addition, the Amended Credit Agreement provides for the issuance of up to $75.0 million in letters of credit, provided that the sum of outstanding borrowings and letters of credit do not exceed the maximum funding commitment of $225.0 million. The Amended Credit Agreement is secured by substantially all of our tangible and intangible assets, including a pledge of 100% of the outstanding capital stock of substantially all of our direct and indirect domestic subsidiaries and 65% of the shares or equity interests of first-tier foreign subsidiaries and each U.S. entity whose assets substantially consist of capital stock and/or intercompany debt of one or more foreign subsidiaries, subject to certain exceptions. Certain of our domestic and foreign subsidiaries are guarantors under the Amended Credit Agreement. We had $100.0 million of outstanding borrowings and $19.7 million of outstanding letters of credit as of September 30, 2021, and $200.0 million of outstanding borrowings and $20.6 million of outstanding letters of credit as of December 31, 2020 under the Amended Credit Agreement.
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COMMITMENTS AND CONTINGENCIES |
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| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
| COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Our contractual obligations and commitments and future operating income under our operating subleases as of September 30, 2021 and through the date of this report, did not materially change from the amounts set forth in our 2020 Annual Report on Form 10-K, except as discussed below. Purchase Obligations During the nine months ended September 30, 2021 and through the date of this report, we entered into non-cancellable arrangements. Future payments under these new contractual obligations are as follows (in thousands):
Legal Matters and Other Contingencies From time to time, we are party to various legal proceedings incident to the operation of our business. For example, we currently are involved in proceedings brought by merchants, employment and related matters, intellectual property infringement suits, customer lawsuits, stockholder claims relating to U.S. securities law, consumer class actions and suits alleging, among other things, violations of state consumer protection or privacy laws. On April 28, 2020, an individual plaintiff filed a securities fraud class action complaint in the United States District Court for the Northern District of Illinois, and in July 2020, another individual was appointed as lead plaintiff. The lawsuit covers the time period from July 30, 2019 through February 18, 2020. The lead plaintiff alleges that Groupon and certain of its officers made materially false and/or misleading statements or omissions regarding its business, operations and prospects, specifically as it relates to reiterating its full year guidance on November 4, 2019 and the Groupon Select program. Plaintiff seeks unspecified compensatory damages and attorneys' fees. Groupon filed a motion to dismiss the complaint and, on April 28, 2021, the Court granted this motion and dismissed the complaint without prejudice. The Court provided the plaintiff with the opportunity to file a motion to seek leave to file an amended complaint, and plaintiff filed a motion for leave to file a second amended complaint, which has the same allegations and class period as the prior complaint. Groupon filed an opposition to plaintiff's motion, and on August 11, 2021, the Court granted plaintiff's motion. Discovery has now commenced in this matter. We intend to continue to vigorously defend the case, which we believe to be without merit. In addition, on September 9, 2021 a federal derivative lawsuit was filed in the United States District Court for District of Delaware. The lawsuit names Groupon and certain of the Company's former and current officers and directors. The plaintiff alleges that defendants failed to disclose material, non-public information, specifically with respect to the Goods business, Groupon Select program and Groupon's full year guidance reiterated on November 4, 2019. The plaintiff's claims also include allegations of breach of fiduciary duty, unjust enrichment, and waste of corporate assets relating to the Groupon Select program and the sale of stock by certain directors. Plaintiff seeks unspecified damages sustained by the Company, injunctive and equitable relief and attorneys’ fees. We intend to vigorously defend this matter, which we believe to be without merit. In addition, third parties have from time to time claimed, and others may claim in the future, that we have infringed their intellectual property rights. We are subject to intellectual property disputes, including patent infringement claims, and expect that we will continue to be subject to intellectual property infringement claims as our services expand in scope and complexity. In the past, we have litigated such claims, and we are presently involved in several patent infringement and other intellectual property-related claims, including pending litigation or trademark disputes relating to, for example, our Goods category, some of which could involve potentially substantial claims for damages or injunctive relief. We may also become more vulnerable to third-party claims as laws such as the Digital Millennium Copyright Act are interpreted by the courts, and we become subject to laws in jurisdictions where the underlying laws with respect to the potential liability of online intermediaries are either unclear or less favorable. We believe that additional lawsuits alleging that we have violated patent, copyright or trademark laws may be filed against us. Intellectual property claims, whether meritorious or not, are time consuming and often costly to resolve, could require expensive changes in our methods of doing business or the goods we sell, or could require us to enter into costly royalty or licensing agreements. We also are subject to consumer claims or lawsuits relating to alleged violations of consumer protection or privacy rights and statutes, some of which could involve potentially substantial claims for damages, including statutory or punitive damages. Consumer and privacy-related claims or lawsuits, whether meritorious or not, could be time consuming, result in costly litigation, damage awards, fines and penalties, injunctive relief or increased costs of doing business through adverse judgment or settlement, or require us to change our business practices, sometimes in expensive ways. We are also subject to, or in the future may become subject to, a variety of regulatory inquiries, audits, and investigations across the jurisdictions where we conduct our business, including, for example, inquiries related to consumer protection, employment matters and/or hiring practices, marketing practices, tax, unclaimed property and privacy rules and regulations. Any regulatory actions against us, whether meritorious or not, could be time consuming, result in costly litigation, damage awards, fines and penalties, injunctive relief or increased costs of doing business through adverse judgment or settlement, require us to change our business practices in expensive ways, require significant amounts of management time, result in the diversion of significant operational resources, materially damage our brand or reputation, or otherwise harm our business. We establish an accrued liability for loss contingencies related to legal and regulatory matters when the loss is both probable and reasonably estimable. Those accruals represent management's best estimate of probable losses and, in such cases, there may be an exposure to loss in excess of the amounts accrued. For certain of the matters described above, there are inherent and significant uncertainties based on, among other factors, the stage of the proceedings, developments in the applicable facts of law, or the lack of a specific damage claim. However, we believe that the amount of reasonably possible losses in excess of the amounts accrued for those matters would not have a material adverse effect on our business, condensed consolidated financial position, results of operations or cash flows. Our accrued liabilities for loss contingencies related to legal and regulatory matters may change in the future as a result of new developments, including, but not limited to, the occurrence of new legal matters, changes in the law or regulatory environment, adverse or favorable rulings, newly discovered facts relevant to the matter, or changes in the strategy for the matter. Regardless of the outcome, litigation and other regulatory matters can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors. Indemnifications In connection with the disposition of our operations in Latin America in 2017, we recorded $5.4 million in indemnification liabilities for certain tax and other matters upon the closing of the transactions as an adjustment to the net loss on the dispositions within discontinued operations at their fair value. We estimated the indemnification liabilities using a probability-weighted expected cash flow approach. Our remaining indemnification liabilities were $2.8 million as of September 30, 2021. We estimate that the total amount of obligations that are reasonably possible to arise under the indemnifications in excess of amounts accrued as of September 30, 2021 is approximately $11.7 million. In the normal course of business to facilitate transactions related to our operations, we indemnify certain parties, including employees, lessors, service providers, merchants, and counterparties to investment agreements and asset and stock purchase agreements with respect to various matters. We have agreed to hold certain parties harmless against losses arising from a breach of representations or covenants, or other claims made against those parties. These agreements may limit the time within which an indemnification claim can be made and the amount of the claim. We are also subject to increased exposure to various claims as a result of our divestitures and acquisitions, particularly in cases where we are entering into new businesses in connection with such acquisitions. We may also become more vulnerable to claims as we expand the range and scope of our services and are subject to laws in jurisdictions where the underlying laws with respect to potential liability are either unclear or less favorable. In addition, we have entered into indemnification agreements with our officers, directors and underwriters, and our bylaws contain similar indemnification obligations that cover officers, directors, employees and other agents. Except as noted above, it is not possible to determine the maximum potential amount under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Historically, any payments that we have made under these agreements have not had a material impact on our operating results, financial position or cash flows.
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STOCKHOLDERS' EQUITY AND COMPENSATION ARRANGEMENTS |
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| Share-based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| STOCKHOLDERS' EQUITY AND COMPENSATION ARRANGEMENTS | STOCKHOLDERS' EQUITY AND COMPENSATION ARRANGEMENTS Common Stock Pursuant to our restated certificate of incorporation, as of September 30, 2021, the Board had the authority to issue up to a total of 100,500,000 shares of common stock. Each holder of common stock is entitled to one vote per share on any matter that is submitted to a vote of stockholders. In addition, holders of our common stock will vote as a single class of stock on any matter that is submitted to a vote of stockholders. Share Repurchase Program In May 2018, the Board authorized us to repurchase up to $300.0 million of our common stock under our share repurchase program. During the three and nine months ended September 30, 2021 and 2020, we did not purchase any shares under the program. As of September 30, 2021, up to $245.0 million of common stock remained available for purchase under our program. The timing and amount of share repurchases, if any, will be determined based on market conditions, limitations under the Amended Credit Agreement, share price, available cash and other factors, and the share repurchase program may be terminated at any time. Groupon, Inc. Stock Plans The Groupon, Inc. Stock Plans (the "Plans") are administered by the Compensation Committee of the Board (the "Compensation Committee"). As of September 30, 2021, 2,852,119 shares of common stock were available for future issuance under the Plans. The stock-based compensation expense related to stock awards issued under the Plans are presented within the following line items of the condensed consolidated statements of operations for the three and nine months ended September 30, 2021 and 2020 (in thousands):
We capitalized $0.9 million and $1.1 million of stock-based compensation for the three months ended September 30, 2021 and 2020, and $2.9 million and $3.4 million for the nine months ended September 30, 2021 and 2020 in connection with internally-developed software and cloud computing arrangements. Employee Stock Purchase Plan The Groupon, Inc. 2012 Employee Stock Purchase Plan, as amended, ("ESPP") authorizes us to grant up to 1,000,000 shares of common stock under that plan as of September 30, 2021. For the nine months ended September 30, 2021 and 2020, 49,399 and 69,371 shares of common stock were issued under the ESPP. Restricted Stock Units The restricted stock units granted under the Plans generally have vesting periods between and four years and are amortized on a straight-line basis over their requisite service period. The table below summarizes restricted stock unit activity under the Plans for the nine months ended September 30, 2021:
As of September 30, 2021, $41.9 million of unrecognized compensation costs related to unvested restricted stock units are expected to be recognized over a remaining weighted-average period of 0.98 years. Performance Share Units We grant performance share units under the Plans that vest in shares of our common stock upon the achievement of financial and operational targets specified in the respective award agreement ("Performance Share Units"). During the year ended December 31, 2019, we also granted performance share units subject to a market condition ("Market-based Performance Share Units"). Our Performance Share Units and Market-based Performance Share Units are subject to continued employment through the performance period dictated by the award and certification by the Compensation Committee that the specified performance conditions have been achieved. The table below summarizes Performance Share Unit activity under the Plans for the nine months ended September 30, 2021:
(1)Performance Share Units granted during the nine months ended September 30, 2021 relate to the issuance of incremental shares upon the Compensation Committee's certification of the achievement of the 2020 performance metrics. As of September 30, 2021, $0.6 million of unrecognized compensation costs related to unvested Performance Share Units are expected to be recognized over a remaining weighted-average period of 1.05 years. We have recognized all compensation costs related to our unvested Market-Based Performance Share Units.
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REVENUE RECOGNITION |
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| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| REVENUE RECOGNITION | REVENUE RECOGNITION Refer to Note 13, Segment Information, for revenue summarized by reportable segment and category for the three and nine months ended September 30, 2021 and 2020. Contract Balances Our deferred revenue relates to product sales and gift card revenue. Revenue for product sales is recognized as the products are delivered to customers, generally within two weeks following the balance sheet date, while revenue for gift cards is recognized upon customer redemption. Our deferred revenue was $3.9 million as of September 30, 2021. As of December 31, 2020, our deferred revenue was $11.2 million, which was recognized during the nine months ended September 30, 2021. Customer Credits We issue credits to customers that can be applied to future purchases through our online marketplaces. Credits are primarily issued as consideration for refunds. To a lesser extent, credits are issued for customer relationship purposes. The following table summarizes the activity in the liability for customer credits for the nine months ended September 30, 2021 (in thousands):
(1)Customer credits can be redeemed through our online marketplaces for goods or services provided by a third-party merchant or for merchandise inventory sold by us. When customer credits are redeemed for goods or services provided by a third-party merchant, service revenue is recognized on a net basis as the difference between the carrying amount of the customer credit liability derecognized and the amount due to the merchant for the related transaction. When customer credits are redeemed for merchandise inventory sold by us, product revenue is recognized on a gross basis equal to the amount of the customer credit liability derecognized. Historically, customer credits have primarily been used within one year of issuance; however, usage patterns have been impacted from changes in customer behavior due to COVID-19. Costs of Obtaining Contracts Incremental costs to obtain contracts with third-party merchants, such as sales commissions, are deferred and recognized over the expected period of the merchant arrangement, generally from 12 to 18 months. Deferred contract acquisition costs are presented in Prepaid expenses and other current assets and Other non-current assets on the condensed consolidated balance sheets. As of September 30, 2021 and December 31, 2020, deferred contract acquisition costs were $7.9 million and $6.3 million. The amortization of deferred contract acquisition costs is classified within Selling, general and administrative expense in the condensed consolidated statements of operations. We amortized $2.6 million and $3.6 million of deferred contract acquisition costs during the three months ended September 30, 2021 and 2020, and $7.8 million and $12.3 million during the nine months ended September 30, 2021 and 2020. We did not recognize any impairments in relation to the deferred contract acquisition costs during the three and nine months ended September 30, 2021 and 2020. Allowance for Expected Credit Losses on Accounts Receivable We establish an allowance for expected credit losses on accounts receivables based on identifying the following customer risk characteristics: size, type of customer, and payment terms offered in the normal course of business. Receivables with similar risk characteristics are grouped into pools. For each pool, we consider the historical credit loss experience, current economic conditions, bankruptcy filings, published or estimated credit default rates, age of the receivable and any recoveries in assessing the lifetime expected credit losses. The following table summarizes the activity in the allowance for expected credit losses on accounts receivable for the nine months ended September 30, 2021 (in thousands):
Variable Consideration for Unredeemed Vouchers For merchant agreements with redemption payment terms, the merchant is not paid its share of the sale price for a voucher sold through one of our online marketplaces until the customer redeems the related voucher. If the customer does not redeem a voucher with such merchant payment terms, we retain all of the gross billings for that voucher, rather than retaining only our net commission. We estimate the variable consideration from vouchers that will not ultimately be redeemed using our historical voucher redemption experience and recognize that amount as revenue at the time of sale. We apply a constraint to ensure it is probable that a significant reversal of revenue will not occur in future periods. During the three and nine months ended September 30, 2021, we recognized $19.1 million and $31.8 million of variable consideration from unredeemed vouchers that were sold in a prior period. We are observing redemption rates lower than our historical estimates for vouchers sold at the onset of the COVID-19 pandemic that are now reaching their expiration. When actual redemptions differ from our estimates, the effects could be material to the condensed consolidated financial statements.
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RESTRUCTURING AND RELATED CHARGES |
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| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RESTRUCTURING AND RELATED CHARGES | RESTRUCTURING AND RELATED CHARGES In April 2020, the Board approved a multi-phase restructuring plan of up to $105.0 million of total pretax charges related to our previously announced strategic shift and as part of the cost cutting measures implemented in response to the impact of COVID-19 on our business. We expect to incur total pretax charges of up to $105.0 million through the end of 2021 and have incurred cumulative Restructuring and related charges of $99.0 million since the inception of the restructuring plan. Our restructuring plan includes workforce reductions of approximately 1,600 positions globally, the exit or discontinuation of the use of certain leases and other assets, impairments of our right-of-use and other long-lived assets, and the exit of our operations in Japan and New Zealand. In the first quarter 2021, we substantially liquidated our subsidiary in Japan and reclassified $32.3 million of cumulative foreign currency translation gains into earnings, which is presented in Other income (expense), net on the condensed consolidated statements of operations for the nine months ended September 30, 2021. The majority of our restructuring charges are expected to be paid in cash and primarily relate to employee severance and benefits expenses, facilities-related costs and professional advisory fees. We will continue to evaluate our cost structure, including additional workforce reductions, as part of our restructuring plan. Costs incurred related to the restructuring plan are classified as Restructuring and related charges on the condensed consolidated statements of operations. The following tables summarize costs incurred by segment related to the restructuring plans for the three and nine months ended September 30, 2021 and 2020 (in thousands):
As a part of our restructuring plan, we terminated or modified several of our leases. In other cases we vacated our leased facilities, and some of those facilities are being actively marketed for sublease or we are in negotiations with the landlord to potentially terminate or modify those leases. We recognized $7.7 million in impairment related to those leases during the three and nine months ended September 30, 2021, and $3.3 million and $17.2 million during the three and nine months ended September 30, 2020. See Note 2, Goodwill and Long-Lived Assets, for additional information. Rent expense, including amortization of the right-of-use asset and accretion of the operating lease liability, sublease income, termination and modification gains and losses, and other variable lease costs related to the leased facilities vacated as part of our restructuring plan are presented within Restructuring and related charges in the condensed consolidated statements of operations. The current and non-current liabilities associated with these leases continue to be presented within Other current liabilities and Operating lease obligations in the condensed consolidated balance sheets. The following table summarizes restructuring liability activity for each period (in thousands):
(1)Amounts included in the year ended December 31, 2019 are related to prior restructuring plans and the liabilities under those plans have been substantially settled. (2)Excludes stock-based compensation of $1.7 million related to accelerated vesting of stock-based compensation awards for certain employees terminated as a result of our restructuring activities. (3)Includes employee severance and benefit costs related to the termination of employees. Substantially all of the remaining cash payments for those costs are expected to be disbursed through 2022.
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INCOME TAXES |
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INCOME TAXES | INCOME TAXES Our income tax provision for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items. Provision (benefit) for income taxes and income (loss) from continuing operations before provision (benefit) for income taxes for the three and nine months ended September 30, 2021 and 2020 was as follows (in thousands):
Our U.S. Federal income tax rate is 21%. The primary factors impacting the effective tax rate for the three and nine months ended September 30, 2021 were the benefit of non-taxable items (including the unrealized gain on the observable price change recorded in an other equity investment during the three months ended September 30, 2021), the U.S. research and development tax credit, and reversals of reserves for uncertain tax positions due to the closing of applicable statutes of limitations. The three and nine months ended September 30, 2021 and 2020 were also impacted by the pretax losses incurred in jurisdictions that have valuation allowances against their net deferred tax assets. The nine months ended September 30, 2020 were also impacted by the reversals of reserves for uncertain tax positions due to the closure of tax audits and by the carryback of federal net operating losses due to the income tax relief provided by the CARES Act. We expect that our consolidated effective tax rate in future periods will continue to differ significantly from the U.S. federal income tax rate as a result of our tax obligations in jurisdictions with profits and valuation allowances in jurisdictions with losses. We are currently undergoing income tax audits in multiple jurisdictions. It is likely that the examination phase of some of those audits will conclude in the next 12 months. There are many factors, including factors outside of our control, which influence the progress and completion of those audits. We are subject to claims for tax assessments by foreign jurisdictions, including a proposed assessment for $121.2 million, inclusive of estimated incremental interest from the original assessment. We believe that the assessment, which primarily relates to transfer pricing on transactions occurring in 2011, is without merit and we intend to vigorously defend ourselves in that matter. In addition to any potential increases in our liabilities for uncertain tax positions from the ultimate resolution of that assessment, we believe that it is reasonably possible that reductions of up to $3.2 million in unrecognized tax benefits may occur within the 12 months following September 30, 2021, upon closing of income tax audits or the expiration of applicable statutes of limitations. In general, it is our practice and intention to reinvest the earnings of our non-U.S. subsidiaries in those operations. Additionally, while we did not incur the deemed repatriation tax, an actual repatriation from our non-U.S. subsidiaries could be subject to foreign and U.S. state income taxes. Aside from limited exceptions for which the related deferred tax liabilities recognized as of September 30, 2021 and December 31, 2020 are immaterial, we do not intend to distribute earnings of foreign subsidiaries for which we have an excess of the financial reporting basis over the tax basis of our investments and therefore have not recorded any deferred taxes related to such amounts. The actual tax cost resulting from a distribution would depend on income tax laws and circumstances at the time of distribution. Determination of the amount of unrecognized deferred tax liability related to the excess of the financial reporting basis over the tax basis of our foreign subsidiaries is not practical due to the complexities associated with the calculation. As of September 30, 2021 and December 31, 2020, we had a valuation allowance recorded against our U.S. deferred tax assets. Given our U.S. current earnings and projected future earnings, we believe that there is a reasonable possibility that within the next three months, sufficient positive evidence may be available to support the conclusion that a valuation allowance will no longer be required. Release of the valuation allowance would result in a decrease to income tax expense in the period the release is recorded. However, the timing and amount of the valuation allowance release could vary based on the level of profitability that we are able to achieve.
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FAIR VALUE MEASUREMENTS |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS Fair value is defined under U.S. GAAP as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. In determining fair value, we use various valuation approaches within the fair value measurement framework. The valuation methodologies used for our assets and liabilities measured at fair value and their classification in the valuation hierarchy are summarized below: Fair value option investments and available-for-sale securities. We have fair value option investments and available-for-sale securities that we measure using the income approach. We have classified these investments as Level 3 due to the lack of observable market data over fair value inputs such as cash flow projections and discount rates. Contingent consideration. During the first quarter 2021, we settled a contingent consideration arrangement to the former owners of a business acquired in 2018. We use the income approach to value contingent consideration obligations based on future financial performance. We have previously classified our contingent consideration as Level 3 due to the lack of relevant observable market data over fair value inputs such as probability-weighting of payment outcomes. The following table provides a roll forward of the fair value of recurring Level 3 fair value measurements for the three and nine months ended September 30, 2021 and 2020 (in thousands):
(1)Represents the unrealized gains or losses recorded in earnings and/or other comprehensive income (loss) during the period for assets and liabilities classified as Level 3 that are still held (or outstanding) at the end of the period. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain assets and liabilities are measured at fair value on a nonrecurring basis, including assets that are written down to fair value as a result of an impairment or increased due to an observable price change in an orderly transaction. We adjusted the carrying value of an other equity investment in a mobile payments company due to an observable price change in an orderly transaction that occurred during the third quarter of 2021, which resulted in an unrealized gain of $89.1 million for the three and nine months ended September 30, 2021. During the third quarter 2021, we sold 100% of our shares in an other equity investment for total cash consideration of $2.6 million and recognized a gain of $2.2 million. In the second quarter 2021, we divested our shares in an other equity investment and recognized a gain and total cash consideration of $4.2 million. In addition, we recognized $6.7 million in impairment charges related to an other equity method investment during the nine months ended September 30, 2020. See Note 3, Investments, for additional information. We recognized $7.7 million in non-cash impairment charges related to right-of-use assets - operating leases and leasehold improvements during the three and nine months ended September 30, 2021, which is included in Restructuring and related charges on our condensed consolidated statements of operations. We recognized $109.5 million in non-cash impairment charges related to goodwill during the nine months ended September 30, 2020. We also recognized $3.3 million and $39.6 million in non-cash impairment charges related to long-lived assets during the three and nine months ended September 30, 2020, of which $3.3 million and $17.2 million is included in Restructuring and related charges on our condensed consolidated statements of operations. See Note 2, Goodwill and Long-Lived Assets and Note 9, Restructuring and Related Charges, for additional information. We did not record any other significant nonrecurring fair value measurements after initial recognition for the three and nine months ended September 30, 2021 and 2020. Estimated Fair Value of Financial Assets and Liabilities Not Measured at Fair Value Our financial instruments not carried at fair value consist primarily of accounts receivable, restricted cash, short-term borrowings, accounts payable, accrued merchant and supplier payables and accrued expenses. The carrying values of those assets and liabilities approximate their respective fair values as of September 30, 2021 and December 31, 2020 due to their short-term nature.
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INCOME (LOSS) PER SHARE | INCOME (LOSS) PER SHARE Basic net income (loss) per share is computed using the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share is computed using the weighted-average number of common shares and the effect of potentially dilutive securities outstanding during the period. Potentially dilutive securities include stock options, restricted stock units, performance share units, ESPP shares, warrants and convertible senior notes. If dilutive, those potentially dilutive securities are reflected in diluted net income (loss) per share using the treasury stock method, except for the convertible senior notes, which are subject to the if-converted method. The following table sets forth the computation of basic and diluted net income (loss) per share of common stock for the three and nine months ended September 30, 2021 and 2020 (in thousands, except share amounts and per share amounts):
The following weighted-average potentially dilutive instruments are not included in the diluted net income (loss) per share calculations above because they would have had an antidilutive effect on the net income (loss) per share from continuing operations:
(1)We apply the if-converted method in computing the effect of our convertible senior notes on diluted net income (loss) per share, whereby the numerator of our diluted net income (loss) per share computations is adjusted for interest expense, net of tax, and the denominator is adjusted for the number shares into which the convertible senior notes could be converted. The effect is only included in the calculation of income (loss) per share for those instruments for which it would reduce income (loss) per share. See Note 5, Financing Arrangements, for additional information. We had outstanding Market-based Performance Share Units as of September 30, 2021 and 2020 that were eligible to vest into shares of common stock subject to the achievement of specified performance or market conditions. Contingently issuable shares are excluded from the computation of diluted income (loss) per share if, based on current period results, the shares would not be issuable if the end of the reporting period were the end of the contingency period. As of September 30, 2021, there were up to 57,668 shares of common stock issuable upon vesting of outstanding Market-based Performance Share Units that were excluded from the table above as the performance or market conditions were not satisfied as of the end of the period.
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SEGMENT INFORMATION |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEGMENT INFORMATION | SEGMENT INFORMATION The segment information reported in the tables below reflects the operating results that are regularly reviewed by our chief operating decision maker to assess performance and make resource allocation decisions. Our operations are organized into two segments: North America and International. Our measure of segment profitability is contribution profit, defined as gross profit less marketing expense, which is consistent with how management reviews the operating results of the segments. Contribution profit measures the amount of marketing investment needed to generate gross profit. Other operating expenses are excluded from contribution profit as management does not review those expenses by segment. The following table summarizes revenue by reportable segment and category for the three and nine months ended September 30, 2021 and 2020 (in thousands):
(1)North America includes revenue from the United States of $140.2 million and $177.3 million for the three months ended September 30, 2021 and 2020, and $444.2 million and $640.4 million for the nine months ended September 30, 2021 and 2020. International includes revenue from the United Kingdom of $21.4 million and $42.9 million for the three months ended September 30, 2021 and 2020, and $100.4 million and $151.1 million for the nine months ended September 30, 2021 and 2020. There were no other individual countries that represented more than 10% of consolidated total revenue for the three and nine months ended September 30, 2021 and 2020. Revenue is attributed to individual countries based on the location of the customer. The following table summarizes gross profit by reportable segment and category for the three and nine months ended September 30, 2021 and 2020 (in thousands):
The following table summarizes contribution profit by reportable segment for the three and nine months ended September 30, 2021 and 2020 (in thousands):
The following table summarizes total assets by reportable segment as of September 30, 2021 and December 31, 2020 (in thousands):
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SUBSEQUENT EVENTS |
9 Months Ended |
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Sep. 30, 2021 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | SUBSEQUENT EVENTS[none identified to date] |
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Policies) |
9 Months Ended |
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Sep. 30, 2021 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Principles of Consolidation | Principles of Consolidation The condensed consolidated financial statements include the accounts of Groupon, Inc. and its wholly-owned subsidiaries, majority-owned subsidiaries over which we exercise control and variable interest entities for which we are the primary beneficiary. All intercompany accounts and transactions have been eliminated in consolidation. Outside stockholders' interests in subsidiaries are shown on the condensed consolidated financial statements as Noncontrolling interests. Investments in entities in which we do not have a controlling financial interest are accounted for at fair value, as available-for-sale securities or at cost adjusted for observable price changes and impairments, as appropriate.
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| Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Estimates in our financial statements include, but are not limited to, the following: variable consideration from unredeemed vouchers; income taxes; leases; initial valuation and subsequent impairment testing of goodwill, other intangible assets and long-lived assets; investments; receivables; customer refunds and other reserves; contingent liabilities; and the useful lives of property, equipment and software and intangible assets. Actual results could differ materially from those estimates.
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| Reclassifications | Reclassifications Certain reclassifications have been made to the condensed consolidated financial statements of prior periods to conform to the current period presentation.
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| Adoption of New Accounting Standards | Adoption of New Accounting Standards We adopted the guidance in Accounting Standards Update ("ASU") 2019-12, Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes, on January 1, 2021. This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. The adoption of ASU 2019-12 did not have a material impact on the condensed consolidated financial statements. We adopted the guidance in ASU 2020-03, Codification Improvements to Financial Instruments, on January 1, 2021. This ASU amends a wide variety of Topics in the Codification, including revolving-debt arrangements and allowance for credit losses related to leases. The adoption of ASU 2020-03 did not have a material impact on the condensed consolidated financial statements. We early adopted the guidance in ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity, on January 1, 2021. The ASU removes the separation models for convertible debt with a cash conversion feature or convertible instruments with a beneficial conversion feature. Additionally, the ASU removes certain conditions for equity classification related to contracts in an entity’s own equity (e.g., warrants) and amends certain guidance related to the computation of income (loss) per share for convertible instruments and contracts in an entity’s own equity. Prior to the adoption of ASU 2020-06, we separated the convertible senior notes due 2022 (the "Atairos Notes") into their liability and equity components. Following the adoption of ASU 2020-06, the previously bifurcated equity component of the Atairos Notes was recombined with the liability component, resulting in a single liability-classified instrument. The carrying value of the Atairos Notes at transition was determined by recalculating the basis of the Atairos Notes as if the conversion option had not been bifurcated at issuance. Transaction costs related to the issuance of the Atairos Notes that were allocated to the equity component were reclassified out of Additional paid-in-capital and the amortization and the related debt discount associated with these costs was recalculated through the transition date. The transaction costs were recorded as a debt discount in the condensed consolidated balance sheets and amortized to interest expense over the remaining term of the Atairos Notes. Together with the cash interest, this resulted in an effective interest rate of 3.76%. As a result of adopting ASU 2020-06, we recorded a $67.0 million net reduction to additional paid-in capital, a $19.0 million increase to Convertible senior notes, net and a $48.0 million reduction to our opening accumulated deficit as of January 1, 2021. See Note 5, Financing Arrangements, for additional information.
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GOODWILL AND LONG-LIVED ASSETS (Tables) |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Goodwill | The following table summarizes goodwill activity by segment for the nine months ended September 30, 2021 (in thousands):
(1)Represents the reclassification between Right-of-use assets - operating leases, net and Goodwill due to an adjustment in the allocation of impairments recorded in 2020 between those two accounts.
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| Schedule of Long-lived Assets Impairment | Impairment charges are presented within the following line items of the condensed consolidated statements of operations for the three and nine months ended September 30, 2021 and 2020 (in thousands):
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| Schedule of Intangible Assets | The following table summarizes intangible assets as of September 30, 2021 and December 31, 2020 (in thousands):
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| Schedule of Estimated Future Amortization Expense | As of September 30, 2021, estimated future amortization expense related to intangible assets is as follows (in thousands):
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INVESTMENTS (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity Method Investments and Joint Ventures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Investments | Our percentage ownership in these investments for the periods reported was as follows:
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SUPPLEMENTAL CONDENSED CONSOLIDATED BALANCE SHEETS AND STATEMENTS OF OPERATIONS INFORMATION (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Supplemental Consolidated Balance Sheet & Statement of Operations Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Other Income (Expense) | The following table summarizes other income (expense), net for the three and nine months ended September 30, 2021 and 2020 (in thousands):
(1)Includes an $89.1 million unrealized gain due to an upward adjustment for an observable price change of an other equity investment for the three and nine months ended September 30, 2021. Refer to Note 3, Investments, for additional information. (2)Includes a $32.3 million cumulative foreign currency translation adjustment gain that was reclassified into earnings for the nine months ended September 30, 2021 as a result of the substantial liquidation of our subsidiary in Japan as part of our restructuring actions. See Note 9, Restructuring and Related Charges, for additional information.
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| Schedule of Prepaid and Other Current Assets | The following table summarizes prepaid expenses and other current assets as of September 30, 2021 and December 31, 2020 (in thousands):
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| Schedule of Other Non-Current Assets | The following table summarizes other non-current assets as of September 30, 2021 and December 31, 2020 (in thousands):
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| Schedule of Accrued Merchant and Supplier Payables | The following table summarizes accrued merchant and supplier payables as of September 30, 2021 and December 31, 2020 (in thousands):
(1)Includes payables to suppliers of inventories and providers of shipping and fulfillment services.
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| Schedule of Accrued Expenses and Other Current Liabilities | The following table summarizes accrued expenses and other current liabilities as of September 30, 2021 and December 31, 2020 (in thousands):
(1)Includes $2.9 million in certain payroll taxes under the Coronavirus Aid, Relief and Economic Security ("CARES") Act. These amounts are due by December 31, 2021.
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| Schedule of Other Non-current Liabilities | The following table summarizes other non-current liabilities as of September 30, 2021 and December 31, 2020 (in thousands):
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FINANCING ARRANGEMENTS (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Notes | The carrying amount of the 2026 Notes consisted of the following as of September 30, 2021 (in thousands):
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| Schedule of Convertible Debt Interest Expense | During the three and nine months ended September 30, 2021 and 2020, we recognized total interest costs on the 2026 Notes and the Atairos Notes as follows (in thousands):
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COMMITMENTS AND CONTINGENCIES (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
| Long-term Purchase Commitment | Future payments under these new contractual obligations are as follows (in thousands):
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STOCKHOLDERS' EQUITY AND COMPENSATION ARRANGEMENTS (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-based Payment Arrangement, Activity | The stock-based compensation expense related to stock awards issued under the Plans are presented within the following line items of the condensed consolidated statements of operations for the three and nine months ended September 30, 2021 and 2020 (in thousands):
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| Schedule of Restricted Stock Unit Activity | The table below summarizes restricted stock unit activity under the Plans for the nine months ended September 30, 2021:
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| Schedule of Performance and Market-based Performance Share Unit Activity | The table below summarizes Performance Share Unit activity under the Plans for the nine months ended September 30, 2021:
(1)Performance Share Units granted during the nine months ended September 30, 2021 relate to the issuance of incremental shares upon the Compensation Committee's certification of the achievement of the 2020 performance metrics.
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REVENUE RECOGNITION (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Liability for Customer Credits | The following table summarizes the activity in the liability for customer credits for the nine months ended September 30, 2021 (in thousands):
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| Schedule of Expected Credit Losses on Accounts Receivable | The following table summarizes the activity in the allowance for expected credit losses on accounts receivable for the nine months ended September 30, 2021 (in thousands):
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RESTRUCTURING AND RELATED CHARGES (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Restructuring Costs by Segment | The following tables summarize costs incurred by segment related to the restructuring plans for the three and nine months ended September 30, 2021 and 2020 (in thousands):
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| Schedule of Restructuring Liability Activity | The following table summarizes restructuring liability activity for each period (in thousands):
(1)Amounts included in the year ended December 31, 2019 are related to prior restructuring plans and the liabilities under those plans have been substantially settled. (2)Excludes stock-based compensation of $1.7 million related to accelerated vesting of stock-based compensation awards for certain employees terminated as a result of our restructuring activities. (3)Includes employee severance and benefit costs related to the termination of employees. Substantially all of the remaining cash payments for those costs are expected to be disbursed through 2022.
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INCOME TAXES (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Components of Income Tax Expense (Benefit) | Provision (benefit) for income taxes and income (loss) from continuing operations before provision (benefit) for income taxes for the three and nine months ended September 30, 2021 and 2020 was as follows (in thousands):
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FAIR VALUE MEASUREMENTS (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Recurring Level 3 Fair Value Measurements | The following table provides a roll forward of the fair value of recurring Level 3 fair value measurements for the three and nine months ended September 30, 2021 and 2020 (in thousands):
(1)Represents the unrealized gains or losses recorded in earnings and/or other comprehensive income (loss) during the period for assets and liabilities classified as Level 3 that are still held (or outstanding) at the end of the period.
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INCOME (LOSS) PER SHARE (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share | The following table sets forth the computation of basic and diluted net income (loss) per share of common stock for the three and nine months ended September 30, 2021 and 2020 (in thousands, except share amounts and per share amounts):
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| Schedule of Weighted-Average Potentially Dilutive Instruments | The following weighted-average potentially dilutive instruments are not included in the diluted net income (loss) per share calculations above because they would have had an antidilutive effect on the net income (loss) per share from continuing operations:
(1)We apply the if-converted method in computing the effect of our convertible senior notes on diluted net income (loss) per share, whereby the numerator of our diluted net income (loss) per share computations is adjusted for interest expense, net of tax, and the denominator is adjusted for the number shares into which the convertible senior notes could be converted. The effect is only included in the calculation of income (loss) per share for those instruments for which it would reduce income (loss) per share. See Note 5, Financing Arrangements, for additional information.
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SEGMENT INFORMATION (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Revenue by Reportable Segment | The following table summarizes revenue by reportable segment and category for the three and nine months ended September 30, 2021 and 2020 (in thousands):
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| Schedule of Gross Profit by Reportable Segment | The following table summarizes gross profit by reportable segment and category for the three and nine months ended September 30, 2021 and 2020 (in thousands):
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| Schedule of Operating Income by Reportable Segment | The following table summarizes contribution profit by reportable segment for the three and nine months ended September 30, 2021 and 2020 (in thousands):
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| Schedule of Total Assets by Segment | The following table summarizes total assets by reportable segment as of September 30, 2021 and December 31, 2020 (in thousands):
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DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Details) $ in Thousands |
9 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Sep. 30, 2021
USD ($)
segment
|
Jun. 30, 2021
USD ($)
|
Mar. 31, 2021
USD ($)
|
Jan. 01, 2021
USD ($)
|
Dec. 31, 2020
USD ($)
|
Sep. 30, 2020
USD ($)
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Jun. 30, 2020
USD ($)
|
Mar. 31, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||
| Number of operating segments | segment | 2 | ||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
| Stockholders' equity | $ 149,497 | $ 55,836 | $ 65,620 | $ 107,674 | $ 98,523 | $ 117,484 | $ 191,507 | $ 395,046 | |
| Convertible senior notes, net | $ 223,028 | 229,490 | |||||||
| Convertible senior notes due 2022 | Senior Notes | |||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
| Effective interest rate | 3.76% | ||||||||
| Additional Paid-In Capital | |||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
| Stockholders' equity | $ 2,266,489 | 2,257,613 | 2,261,095 | 2,348,114 | 2,338,432 | 2,329,599 | 2,323,217 | 2,310,393 | |
| Accumulated Deficit | |||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
| Stockholders' equity | $ (1,183,558) | $ (1,261,665) | $ (1,258,283) | (1,320,886) | $ (1,334,864) | $ (1,318,594) | $ (1,246,477) | (1,032,876) | |
| Cumulative Effect, Period of Adoption, Adjustment | |||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
| Stockholders' equity | (18,969) | (79) | |||||||
| Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2020-06 | |||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
| Convertible senior notes, net | $ 19,000 | ||||||||
| Cumulative Effect, Period of Adoption, Adjustment | Additional Paid-In Capital | |||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
| Stockholders' equity | (67,014) | ||||||||
| Cumulative Effect, Period of Adoption, Adjustment | Additional Paid-In Capital | Accounting Standards Update 2020-06 | |||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
| Stockholders' equity | (67,000) | ||||||||
| Cumulative Effect, Period of Adoption, Adjustment | Accumulated Deficit | |||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
| Stockholders' equity | $ 48,045 | $ (79) | |||||||
| Cumulative Effect, Period of Adoption, Adjustment | Accumulated Deficit | Accounting Standards Update 2020-06 | |||||||||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||
| Stockholders' equity | $ 48,000 |
GOODWILL AND LONG-LIVED ASSETS - Schedule of Goodwill (Details) $ in Thousands |
9 Months Ended |
|---|---|
|
Sep. 30, 2021
USD ($)
| |
| Goodwill [Roll Forward] | |
| Goodwill, beginning balance | $ 214,699 |
| Other | 3,776 |
| Foreign currency translation | (1,576) |
| Goodwill, ending balance | 216,899 |
| North America | |
| Goodwill [Roll Forward] | |
| Goodwill, beginning balance | 178,685 |
| Other | 0 |
| Foreign currency translation | 0 |
| Goodwill, ending balance | 178,685 |
| International | |
| Goodwill [Roll Forward] | |
| Goodwill, beginning balance | 36,014 |
| Other | 3,776 |
| Foreign currency translation | (1,576) |
| Goodwill, ending balance | $ 38,214 |
GOODWILL AND LONG-LIVED ASSETS - Narrative (Details) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2021
USD ($)
reportingUnit
|
Sep. 30, 2020
USD ($)
|
Sep. 30, 2021
USD ($)
|
Sep. 30, 2020
USD ($)
|
|
| Finite-Lived Intangible Assets [Line Items] | ||||
| Goodwill impairment | $ 0 | $ 0 | $ 0 | $ 109,486,000 |
| Number of reporting units | reportingUnit | 2 | |||
| Long-lived asset impairment | $ 0 | 0 | 0 | 22,351,000 |
| Intangible asset amortization expense | 2,100,000 | 2,500,000 | 6,728,000 | 7,378,000 |
| Restructuring and related charges | ||||
| Finite-Lived Intangible Assets [Line Items] | ||||
| Long-lived asset impairment | 3,300,000 | |||
| Restructuring and related charges: | ||||
| Finite-Lived Intangible Assets [Line Items] | ||||
| Impairment of right-of-use assets and leasehold improvements | $ 7,700,000 | $ 3,300,000 | $ 7,700,000 | $ 17,200,000 |
| Minimum | ||||
| Finite-Lived Intangible Assets [Line Items] | ||||
| Intangible assets, useful life | 1 year | |||
| Maximum | ||||
| Finite-Lived Intangible Assets [Line Items] | ||||
| Intangible assets, useful life | 10 years | |||
GOODWILL AND LONG-LIVED ASSETS - Schedule of Impairment Charges Presented within Statement of Operations (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Impaired Long-Lived Assets Held and Used [Line Items] | ||||
| Impairment of long-lived assets | $ 7,651 | $ 3,296 | $ 7,651 | $ 39,550 |
| Long-lived asset impairment: | ||||
| Impaired Long-Lived Assets Held and Used [Line Items] | ||||
| Impairment of long-lived assets | 0 | 0 | 0 | 22,351 |
| Long-lived asset impairment: | North America | ||||
| Impaired Long-Lived Assets Held and Used [Line Items] | ||||
| Impairment of long-lived assets | 0 | 0 | 0 | 0 |
| Long-lived asset impairment: | International | ||||
| Impaired Long-Lived Assets Held and Used [Line Items] | ||||
| Impairment of long-lived assets | 0 | 0 | 0 | 22,351 |
| Restructuring and related charges: | ||||
| Impaired Long-Lived Assets Held and Used [Line Items] | ||||
| Impairment of long-lived assets | 7,651 | 3,296 | 7,651 | 17,199 |
| Restructuring and related charges: | North America | ||||
| Impaired Long-Lived Assets Held and Used [Line Items] | ||||
| Impairment of long-lived assets | 5,430 | 834 | 5,430 | 14,322 |
| Restructuring and related charges: | International | ||||
| Impaired Long-Lived Assets Held and Used [Line Items] | ||||
| Impairment of long-lived assets | $ 2,221 | $ 2,462 | $ 2,221 | $ 2,877 |
GOODWILL AND LONG-LIVED ASSETS - Impairment for Long-lived Assets and Restructuring and Related Charges by Asset Type (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Impaired Long-Lived Assets Held and Used [Line Items] | ||||
| Finance Lease, Impairment Loss | $ 0 | $ 70 | $ 0 | $ 1,388 |
| Total Property, equipment and software, net | 870 | 261 | 870 | 15,896 |
| Right-of-use assets - operating leases, net | 6,781 | 3,035 | 6,781 | 22,680 |
| Intangible assets, net | 0 | 0 | 0 | 103 |
| Other non-current assets | 0 | 0 | 0 | 871 |
| Total long-lived assets | 7,651 | 3,296 | 7,651 | 39,550 |
| Restructuring and related charges: | ||||
| Impaired Long-Lived Assets Held and Used [Line Items] | ||||
| Total long-lived assets | 7,651 | 3,296 | 7,651 | 17,199 |
| Leasehold Improvements | ||||
| Impaired Long-Lived Assets Held and Used [Line Items] | ||||
| Property, equipment and software, impairment | 870 | 191 | 870 | 7,749 |
| Computer hardware | ||||
| Impaired Long-Lived Assets Held and Used [Line Items] | ||||
| Property, equipment and software, impairment | 0 | 0 | 0 | 2,842 |
| Internally-developed software | ||||
| Impaired Long-Lived Assets Held and Used [Line Items] | ||||
| Property, equipment and software, impairment | 0 | 0 | 0 | 2,988 |
| Other Property, equipment and software, net | ||||
| Impaired Long-Lived Assets Held and Used [Line Items] | ||||
| Property, equipment and software, impairment | $ 0 | $ 0 | $ 0 | $ 929 |
GOODWILL AND LONG-LIVED ASSETS - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
|---|---|---|
| Acquired Finite-Lived Intangible Assets [Line Items] | ||
| Gross Carrying Value | $ 59,980 | $ 60,616 |
| Accumulated Amortization | 34,170 | 30,465 |
| Net Carrying Value | 25,810 | 30,151 |
| Merchant relationships | ||
| Acquired Finite-Lived Intangible Assets [Line Items] | ||
| Gross Carrying Value | 19,914 | 20,208 |
| Accumulated Amortization | 11,662 | 9,236 |
| Net Carrying Value | 8,252 | 10,972 |
| Trade names | ||
| Acquired Finite-Lived Intangible Assets [Line Items] | ||
| Gross Carrying Value | 9,597 | 9,651 |
| Accumulated Amortization | 8,132 | 7,921 |
| Net Carrying Value | 1,465 | 1,730 |
| Developed technology | ||
| Acquired Finite-Lived Intangible Assets [Line Items] | ||
| Gross Carrying Value | 538 | 2,121 |
| Accumulated Amortization | 538 | 1,863 |
| Net Carrying Value | 0 | 258 |
| Patents | ||
| Acquired Finite-Lived Intangible Assets [Line Items] | ||
| Gross Carrying Value | 12,225 | 10,813 |
| Accumulated Amortization | 5,462 | 4,697 |
| Net Carrying Value | 6,763 | 6,116 |
| Other intangible assets | ||
| Acquired Finite-Lived Intangible Assets [Line Items] | ||
| Gross Carrying Value | 17,706 | 17,823 |
| Accumulated Amortization | 8,376 | 6,748 |
| Net Carrying Value | $ 9,330 | $ 11,075 |
GOODWILL AND LONG-LIVED ASSETS - Schedule of Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
|---|---|---|
| Goodwill and Intangible Assets Disclosure [Abstract] | ||
| Remaining amounts in 2021 | $ 2,153 | |
| 2022 | 8,398 | |
| 2023 | 7,229 | |
| 2024 | 3,544 | |
| 2025 | 1,974 | |
| Thereafter | 2,512 | |
| Net Carrying Value | $ 25,810 | $ 30,151 |
INVESTMENTS - Summary of Investments (Details) |
Sep. 30, 2021 |
Dec. 31, 2020 |
|---|---|---|
| Minimum | ||
| Schedule of Equity Method Investments [Line Items] | ||
| Available for sale securities, percent ownership of voting stock | 19.00% | 19.00% |
| Minimum | Other equity investments | ||
| Schedule of Equity Method Investments [Line Items] | ||
| Equity method investment, percent ownership of voting stock | 1.00% | 1.00% |
| Minimum | Fair value option investments | ||
| Schedule of Equity Method Investments [Line Items] | ||
| Equity method investment, percent ownership of voting stock | 10.00% | 10.00% |
| Maximum | ||
| Schedule of Equity Method Investments [Line Items] | ||
| Available for sale securities, percent ownership of voting stock | 25.00% | 25.00% |
| Maximum | Other equity investments | ||
| Schedule of Equity Method Investments [Line Items] | ||
| Equity method investment, percent ownership of voting stock | 19.00% | 19.00% |
| Maximum | Fair value option investments | ||
| Schedule of Equity Method Investments [Line Items] | ||
| Equity method investment, percent ownership of voting stock | 19.00% | 19.00% |
INVESTMENTS - Narrative (Details) - USD ($) |
3 Months Ended | 9 Months Ended | ||||
|---|---|---|---|---|---|---|
Sep. 30, 2021 |
Jun. 30, 2021 |
Mar. 31, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
Dec. 31, 2020 |
|
| Schedule of Equity Method Investments [Line Items] | ||||||
| Available-for-sale securities and fair value option investments | $ 0 | $ 0 | $ 0 | |||
| Gain (loss) from changes in the fair value of fair value option investments | $ (1,400,000) | |||||
| Unrealized gain on investments | 89,100,000 | 89,100,000 | ||||
| Gain on sale of equity investments | 2,200,000 | |||||
| Other than temporary impairments on equity method investments | $ 6,700,000 | |||||
| Other equity investments | ||||||
| Schedule of Equity Method Investments [Line Items] | ||||||
| Equity method investments | 122,900,000 | 122,900,000 | $ 37,700,000 | |||
| Unrealized gain on investments | $ 89,100,000 | 89,100,000 | ||||
| Percentage of other equity investment sold | 100.00% | 50.00% | ||||
| Equity method investments | $ 2,600,000 | $ 4,200,000 | $ 34,000,000 | |||
| Other than temporary impairments on equity method investments | $ 0 | $ 6,700,000 | $ 0 | |||
SUPPLEMENTAL CONDENSED CONSOLIDATED BALANCE SHEETS AND STATEMENTS OF OPERATIONS INFORMATION - Schedule of Other Income (Expense) (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Schedule of Equity Method Investments [Line Items] | ||||
| Interest income | $ 1,336 | $ 1,268 | $ 3,818 | $ 5,254 |
| Interest expense | (3,534) | (9,408) | (14,123) | (24,375) |
| Changes in fair value of investments | 91,288 | 0 | 95,533 | (8,089) |
| Loss on extinguishment of debt | 0 | 0 | (5,090) | 0 |
| Foreign currency gains (losses), net and other | (6,557) | 7,273 | 17,591 | 5,661 |
| Other income (expense), net | 82,533 | $ (867) | 97,729 | (21,549) |
| Unrealized gain on investments | 89,100 | 89,100 | ||
| Foreign currency translation adjustments reclassified into earnings | 32,268 | $ 0 | ||
| Other equity investments | ||||
| Schedule of Equity Method Investments [Line Items] | ||||
| Unrealized gain on investments | $ 89,100 | $ 89,100 | ||
SUPPLEMENTAL CONDENSED CONSOLIDATED BALANCE SHEETS AND STATEMENTS OF OPERATIONS INFORMATION - Schedule of Prepaid and Other Current Assets (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
|---|---|---|
| Supplemental Consolidated Balance Sheet & Statement of Operations Information [Abstract] | ||
| Prepaid expenses | $ 20,404 | $ 18,038 |
| Income taxes receivable | 8,060 | 5,437 |
| Deferred cloud implementation cost | 11,861 | 4,942 |
| Other | 10,102 | 12,024 |
| Total prepaid expenses and other current assets | $ 50,427 | $ 40,441 |
SUPPLEMENTAL CONDENSED CONSOLIDATED BALANCE SHEETS AND STATEMENTS OF OPERATIONS INFORMATION - Schedule of Other Non-Current Assets (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
|---|---|---|
| Supplemental Consolidated Balance Sheet & Statement of Operations Information [Abstract] | ||
| Deferred income tax | $ 11,283 | $ 11,593 |
| Debt issue costs, net | 808 | 1,852 |
| Deferred contract acquisition costs | 6,979 | 5,315 |
| Deferred cloud implementation costs | 5,782 | 10,402 |
| Other | 5,699 | 5,165 |
| Total other non-current assets | $ 30,551 | $ 34,327 |
SUPPLEMENTAL CONDENSED CONSOLIDATED BALANCE SHEETS AND STATEMENTS OF OPERATIONS INFORMATION - Schedule of Accrued Merchant and Supplier Payables (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
|---|---|---|
| Supplemental Consolidated Balance Sheet & Statement of Operations Information [Abstract] | ||
| Accrued merchant payables | $ 215,365 | $ 303,260 |
| Accrued supplier payables | 14,546 | 107,703 |
| Total accrued merchant and supplier payables | $ 229,911 | $ 410,963 |
SUPPLEMENTAL CONDENSED CONSOLIDATED BALANCE SHEETS AND STATEMENTS OF OPERATIONS INFORMATION - Schedule of Accrued Expense and Other Current Liabilities (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
|---|---|---|
| Supplemental Consolidated Balance Sheet & Statement of Operations Information [Abstract] | ||
| Refund reserve | $ 22,239 | $ 33,173 |
| Compensation and benefits | 24,625 | 54,958 |
| Accrued marketing | 21,388 | 15,299 |
| Restructuring-related liabilities | 10,001 | 13,746 |
| Customer credits | 78,217 | 61,006 |
| Income taxes payable | 1,182 | 7,862 |
| Deferred revenue | 3,868 | 11,223 |
| Operating and finance lease obligations | 32,836 | 37,755 |
| Deferred cloud computing contract incentive | 3,000 | 3,000 |
| Other | 44,381 | 56,977 |
| Total accrued expenses and other current liabilities | 241,737 | 294,999 |
| Accrued payroll taxes, CARES Act | $ 2,900 | $ 2,900 |
SUPPLEMENTAL CONDENSED CONSOLIDATED BALANCE SHEETS AND STATEMENTS OF OPERATIONS INFORMATION - Schedule of Other Non-current Liabilities (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
|---|---|---|
| Supplemental Consolidated Balance Sheet & Statement of Operations Information [Abstract] | ||
| Contingent income tax liabilities | $ 25,563 | $ 25,593 |
| Deferred income taxes | 3,408 | 3,170 |
| Deferred cloud computing contract incentive | 2,000 | 4,250 |
| Other | 9,686 | 11,415 |
| Total other non-current liabilities | 40,657 | 44,428 |
| Accrued payroll taxes, CARES Act | $ 2,900 | $ 2,900 |
FINANCING ARRANGEMENTS - 3.25% Convertible Senior Notes due 2022 (Details) - USD ($) |
1 Months Ended | 3 Months Ended | 9 Months Ended | ||||
|---|---|---|---|---|---|---|---|
May 31, 2021 |
Sep. 30, 2021 |
Jun. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
Apr. 30, 2016 |
|
| Debt Instrument [Line Items] | |||||||
| Loss on extinguishment of debt | $ 0 | $ 0 | $ (5,090,000) | $ 0 | |||
| Convertible senior notes due 2022 | Senior Notes | |||||||
| Debt Instrument [Line Items] | |||||||
| Stated interest rate | 3.25% | ||||||
| Principal amount | $ 250,000,000 | ||||||
| Aggregate purchase price | $ 255,000,000 | ||||||
| Repurchased debt outstanding principal amount | 250,000,000 | ||||||
| Accrued and unpaid interest | $ 1,000,000 | ||||||
| Debt repurchase prepayment penalty | $ 4,000,000 | ||||||
| Loss on extinguishment of debt | $ 5,100,000 | ||||||
FINANCING ARRANGEMENTS - Note Hedges and Warrants (Details) - USD ($) $ in Millions |
1 Months Ended | ||
|---|---|---|---|
May 17, 2021 |
May 14, 2021 |
May 31, 2016 |
|
| Debt Disclosure [Abstract] | |||
| Cost of convertible note hedges | $ 59.1 | ||
| Payments for the settlement of warrants | $ 35.5 | ||
| Cash received on hedges | $ 2.3 | ||
| Settlement of cash paid for warrants | $ 1.3 |
FINANCING ARRANGEMENTS - 1.125% Convertible Senior Notes due 2026 (Details) $ / shares in Units, $ in Thousands |
1 Months Ended | |||
|---|---|---|---|---|
|
Apr. 30, 2021
USD ($)
$ / shares
|
Apr. 30, 2016 |
Sep. 30, 2021
USD ($)
$ / shares
|
Jun. 30, 2021
$ / shares
|
|
| Debt Instrument [Line Items] | ||||
| Conversion price (in usd per share) | $ / shares | $ 68.12 | |||
| Share price (in usd per share) | $ / shares | $ 22.81 | |||
| Convertible senior notes due 2026 | Senior Notes | ||||
| Debt Instrument [Line Items] | ||||
| Stated interest rate | 1.125% | |||
| Principal amount | $ 230,000 | $ 230,000 | ||
| Net proceeds from issuance of debt | 222,100 | |||
| Proceeds from debt used for capped call transactions payment | $ 27,400 | |||
| Debt conversion ratio | 0.0146800 | |||
| Conversion price (in usd per share) | $ / shares | $ 68.12 | |||
| Debt issuance costs | $ 7,800 | |||
| Effective interest rate | 1.83% | |||
| Fair value of debt | $ 178,900 | |||
| Debt conversion price, premium on stock price | 100.00% | |||
| Convertible senior notes due 2026 | Senior Notes | Maximum | ||||
| Debt Instrument [Line Items] | ||||
| Conversion price (in usd per share) | $ / shares | $ 104.80 | |||
FINANCING ARRANGEMENTS - Schedule of Notes (Details) - Senior Notes - Convertible senior notes due 2026 - USD ($) $ in Thousands |
Sep. 30, 2021 |
Apr. 30, 2021 |
|---|---|---|
| Debt Instrument [Line Items] | ||
| Principal amount | $ 230,000 | $ 230,000 |
| Less: debt discount | (6,972) | |
| Net carrying amount of liability | $ 223,028 |
FINANCING ARRANGEMENTS - Schedule of Convertible Debt Interest Expense (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Debt Instrument [Line Items] | ||||
| Contractual interest | $ 4,378 | $ 6,096 | ||
| Amortization of debt discount | 1,226 | 10,824 | ||
| Total | 5,604 | 16,920 | ||
| Senior Notes | Convertible senior notes due 2022 | ||||
| Debt Instrument [Line Items] | ||||
| Contractual interest | $ 646 | $ 2,032 | 4,378 | 6,096 |
| Amortization of debt discount | 374 | 3,701 | 1,226 | 10,824 |
| Total | $ 1,020 | $ 5,733 | $ 5,604 | $ 16,920 |
FINANCING ARRANGEMENTS - Revolving Credit Facility (Details) - USD ($) |
1 Months Ended | 3 Months Ended | ||
|---|---|---|---|---|
Jul. 31, 2020 |
Sep. 30, 2021 |
Dec. 31, 2020 |
May 30, 2019 |
|
| Debt Instrument [Line Items] | ||||
| Amount of borrowings | $ 100,000,000 | $ 200,000,000 | ||
| Outstanding letters of credit | $ 19,700,000 | $ 20,600,000 | ||
| 2020 First Amended Credit Agreement | ||||
| Debt Instrument [Line Items] | ||||
| Maximum funding commitment | $ 225,000,000 | |||
| Unused commitment fee percentage | 0.40% | |||
| Debt collateral, percentage of outstanding capital stock, domestic subsidiaries | 100.00% | |||
| Debt collateral, percentage of outstanding capital stock, first-tier foreign subsidiaries | 65.00% | |||
| 2020 First Amended Credit Agreement | Minimum | ||||
| Debt Instrument [Line Items] | ||||
| Basis spread on variable rate | 0.50% | |||
| Commitment fee percentage, daily amount of unused commitments | 0.25% | |||
| 2020 First Amended Credit Agreement | Maximum | ||||
| Debt Instrument [Line Items] | ||||
| Commitment fee percentage, daily amount of unused commitments | 0.35% | |||
| 2020 First Amended Credit Agreement | Canadian Prime Rate | ||||
| Debt Instrument [Line Items] | ||||
| Basis spread on variable rate | 1.50% | |||
| 2020 First Amended Credit Agreement | Fixed Rate | ||||
| Debt Instrument [Line Items] | ||||
| Basis spread on variable rate | 2.50% | |||
| 2020 First Amended Credit Agreement | LIBOR | Maximum | ||||
| Debt Instrument [Line Items] | ||||
| Basis spread on variable rate | 2.00% | |||
| Revolving Credit Facility | 2019 Credit Agreement | ||||
| Debt Instrument [Line Items] | ||||
| Aggregate principal amount | $ 400,000,000 | |||
| Revolving Credit Facility | 2021 Second Amended Credit Agreement | ||||
| Debt Instrument [Line Items] | ||||
| Debt issuance costs | $ 3,500,000 | |||
| Minimum liquidity as a percentage of accrued merchant and supplier payables required under debt agreement | 70.00% | |||
| Monthly liquidity required as a percentage of accrued merchant and supplier payables required under debt agreement | 100.00% | |||
| Monthly liquidity required in addition to minimum | $ 50,000,000 | |||
| Minimum liquidity required under debt agreement | $ 250,000,000 | |||
| Letter of Credit | 2020 First Amended Credit Agreement | ||||
| Debt Instrument [Line Items] | ||||
| Aggregate principal amount | $ 75,000,000 |
COMMITMENTS AND CONTINGENCIES - Long-term Purchase Commitment (Details) $ in Thousands |
Sep. 30, 2021
USD ($)
|
|---|---|
| Commitments and Contingencies Disclosure [Abstract] | |
| Remaining in 2021 | $ 1,082 |
| 2022 | 4,935 |
| 2023 | 10,933 |
| 2024 | 14,642 |
| 2025 | 18,000 |
| Thereafter | 0 |
| Total | $ 49,592 |
COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions |
Sep. 30, 2021 |
Dec. 31, 2017 |
|---|---|---|
| Recorded Unconditional Purchase Obligation [Line Items] | ||
| Indemnification liabilities | $ 2.8 | |
| Maximum exposure of indemnification liability | $ 11.7 | |
| Groupon Latin America | ||
| Recorded Unconditional Purchase Obligation [Line Items] | ||
| Estimated indemnification liability | $ 5.4 |
STOCKHOLDERS' EQUITY AND COMPENSATION ARRANGEMENTS - Narrative (Details) |
3 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|
|
Sep. 30, 2021
USD ($)
vote
shares
|
Sep. 30, 2020
shares
|
Sep. 30, 2021
USD ($)
vote
shares
|
Sep. 30, 2020
shares
|
May 31, 2018
USD ($)
|
|
| Share-based Payment Arrangement [Abstract] | |||||
| Number of shares available for issuance (in shares) | 100,500,000 | 100,500,000 | |||
| Common stock, vote per share | vote | 1 | 1 | |||
| Authorized repurchase amount | $ | $ 300,000,000 | ||||
| Stock repurchased during period (in shares) | 0 | 0 | 0 | 0 | |
| Value of common stock remaining available for repurchase | $ | $ 245,000,000 | $ 245,000,000 | |||
| Number of shares available for future issuance (in shares) | 2,852,119 | 2,852,119 | |||
STOCKHOLDERS' EQUITY AND COMPENSATION ARRANGEMENTS - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Stock-based compensation expense | $ 8,204 | $ 8,690 | $ 25,121 | $ 32,672 |
| Capitalized amount of stock-based compensation | 900 | 1,100 | 2,900 | 3,400 |
| Cost of revenue | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Stock-based compensation expense | 137 | 156 | 498 | 496 |
| Marketing | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Stock-based compensation expense | 173 | 377 | 486 | 1,218 |
| Selling, general and administrative | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Stock-based compensation expense | 7,894 | 7,846 | 24,137 | 29,223 |
| Restructuring and related charges | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Stock-based compensation expense | $ 0 | $ 311 | $ 0 | $ 1,735 |
STOCKHOLDERS' EQUITY AND COMPENSATION ARRANGEMENTS - ESPP (Details) - shares |
9 Months Ended | |
|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Number of shares available for issuance (in shares) | 100,500,000 | |
| Employee Stock | ||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Number of shares available for issuance (in shares) | 1,000,000 | |
| Shares issued under employee stock purchase plan (in shares) | 49,399 | 69,371 |
STOCKHOLDERS' EQUITY AND COMPENSATION ARRANGEMENTS - RSU (Details) - Restricted stock units - USD ($) $ / shares in Units, $ in Millions |
9 Months Ended |
|---|---|
Sep. 30, 2021 | |
| Number of Shares | |
| Beginning balance (in shares) | 1,853,007 |
| Granted (in shares) | 936,875 |
| Vested (in shares) | (1,002,467) |
| Forfeited (in shares) | (286,316) |
| Ending balance (in shares) | 1,501,099 |
| Weighted-Average Grant Date Fair Value (per unit) | |
| Beginning balance (in dollars per share) | $ 31.91 |
| Granted (in dollars per share) | 42.97 |
| Vested (in dollars per share) | 29.34 |
| Forfeited (in dollars per share) | 37.54 |
| Ending balance (in dollars per share) | $ 39.28 |
| Unrecognized compensation costs | $ 41.9 |
| Weighted-average period of recognition | 11 months 23 days |
| Minimum | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Vesting period | 1 year |
| Maximum | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Vesting period | 4 years |
STOCKHOLDERS' EQUITY AND COMPENSATION ARRANGEMENTS - PSU (Details) - USD ($) $ / shares in Units, $ in Millions |
9 Months Ended |
|---|---|
Sep. 30, 2021 | |
| Performance Share Units | |
| Number of Shares | |
| Beginning balance (in shares) | 124,709 |
| Granted (in shares) | 41,729 |
| Vested (in shares) | (86,710) |
| Forfeited (in shares) | (768) |
| Ending balance (in shares) | 78,960 |
| Maximum shares issuable (in shares) | 78,960 |
| Weighted-Average Grant Date Fair Value (per unit) | |
| Beginning balance (in dollars per share) | $ 29.73 |
| Granted (in dollars per share) | 15.44 |
| Vested (in dollars per share) | 24.36 |
| Forfeited (in dollars per share) | 69.00 |
| Ending balance (in dollars per share) | $ 27.70 |
| Unrecognized compensation costs | $ 0.6 |
| Weighted-average period of recognition | 1 year 18 days |
| Market-based Performance Share Units | |
| Number of Shares | |
| Beginning balance (in shares) | 57,668 |
| Granted (in shares) | 0 |
| Vested (in shares) | 0 |
| Forfeited (in shares) | 0 |
| Ending balance (in shares) | 57,668 |
| Maximum shares issuable (in shares) | 57,668 |
| Weighted-Average Grant Date Fair Value (per unit) | |
| Beginning balance (in dollars per share) | $ 60.60 |
| Granted (in dollars per share) | 0 |
| Vested (in dollars per share) | 0 |
| Forfeited (in dollars per share) | 0 |
| Ending balance (in dollars per share) | $ 60.60 |
REVENUE RECOGNITION - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
Dec. 31, 2020 |
|
| Capitalized Contract Cost [Line Items] | |||||
| Deferred revenue | $ 3.9 | $ 3.9 | $ 11.2 | ||
| Amortization of deferred contract costs | 2.6 | $ 3.6 | 7.8 | $ 12.3 | |
| Variable consideration from unredeemed vouchers sold in prior periods | 19.1 | 31.8 | |||
| Prepaid Expenses and Other Current Assets | |||||
| Capitalized Contract Cost [Line Items] | |||||
| Deferred cloud implementation cost | $ 7.9 | $ 7.9 | $ 6.3 | ||
| Minimum | |||||
| Capitalized Contract Cost [Line Items] | |||||
| Deferred contract acquisition cost recognition period | 12 months | 12 months | |||
| Maximum | |||||
| Capitalized Contract Cost [Line Items] | |||||
| Deferred contract acquisition cost recognition period | 18 months | 18 months | |||
REVENUE RECOGNITION - Activity in the Liability of Customer Credits (Details) $ in Thousands |
9 Months Ended |
|---|---|
|
Sep. 30, 2021
USD ($)
| |
| Customer Credits [Roll Forward] | |
| Customer credits, beginning balance | $ 61,006 |
| Credits issued | 173,476 |
| Credits redeemed | (134,147) |
| Breakage revenue recognized | (21,084) |
| Foreign currency translation | (1,034) |
| Customer credits, ending balance | $ 78,217 |
REVENUE RECOGNITION - Activity in Allowance for Expected Credit Losses on Accounts Receivable (Details) $ in Thousands |
9 Months Ended |
|---|---|
|
Sep. 30, 2021
USD ($)
| |
| Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
| Allowance for credit loss on accounts receivable, beginning balance | $ 9,756 |
| Change in provision | 517 |
| Write-offs | (1,431) |
| Foreign currency translation | 44 |
| Allowance for credit loss on accounts receivable, ending balance | $ 8,886 |
RESTRUCTURING AND RELATED CHARGES - Narrative (Details) $ in Thousands |
1 Months Ended | 3 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|---|
|
Apr. 30, 2020
USD ($)
position
|
Sep. 30, 2021
USD ($)
|
Sep. 30, 2020
USD ($)
|
Sep. 30, 2021
USD ($)
|
Sep. 30, 2020
USD ($)
|
Apr. 30, 2021
USD ($)
|
|
| Restructuring Cost and Reserve [Line Items] | ||||||
| Expected restructuring cost (up to) | $ 105,000 | $ 105,000 | ||||
| Restructuring and related charges, incurred to date | $ 99,000 | $ 99,000 | ||||
| Reduction in number of positions (in employees) | position | 1,600 | |||||
| Foreign currency translation adjustments reclassified into earnings | 32,268 | $ 0 | ||||
| Restructuring and related charges: | ||||||
| Restructuring Cost and Reserve [Line Items] | ||||||
| Impairment of right-of-use assets and leasehold improvements | $ 7,700 | $ 3,300 | $ 7,700 | $ 17,200 | ||
RESTRUCTURING AND RELATED CHARGES - Schedule of Restructuring Costs by Segment (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Restructuring Cost and Reserve [Line Items] | ||||
| Employee Severance and Benefit Costs (Credits) | $ 2,626 | $ 15,889 | $ 22,123 | $ 40,589 |
| Legal and Advisory Costs | 822 | 453 | 2,081 | 1,202 |
| Property, Equipment and Software Impairments | 870 | 265 | 870 | 5,017 |
| Right-of-Use Assets Impairments and Lease-related Charges (Credits) | 8,165 | 3,952 | 9,076 | 14,229 |
| Restructuring and related charges | 12,483 | 20,559 | 34,150 | 61,037 |
| North America | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Employee Severance and Benefit Costs (Credits) | 26 | 1,489 | 458 | 17,548 |
| Legal and Advisory Costs | 251 | 435 | 1,482 | 443 |
| Property, Equipment and Software Impairments | 602 | 70 | 602 | 4,790 |
| Right-of-Use Assets Impairments and Lease-related Charges (Credits) | 5,610 | 736 | 6,974 | 10,047 |
| Restructuring and related charges | 6,489 | 2,730 | 9,516 | 32,828 |
| International | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Employee Severance and Benefit Costs (Credits) | 2,600 | 14,400 | 21,665 | 23,041 |
| Legal and Advisory Costs | 571 | 18 | 599 | 759 |
| Property, Equipment and Software Impairments | 268 | 195 | 268 | 227 |
| Right-of-Use Assets Impairments and Lease-related Charges (Credits) | 2,555 | 3,216 | 2,102 | 4,182 |
| Restructuring and related charges | $ 5,994 | $ 17,829 | $ 24,634 | $ 28,209 |
RESTRUCTURING AND RELATED CHARGES - Schedule of Restructuring Liability Activity (Details) - USD ($) $ in Thousands |
9 Months Ended | 12 Months Ended | |
|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Dec. 31, 2020 |
|
| Restructuring Reserve [Roll Forward] | |||
| Restructuring reserve, beginning balance | $ 14,131 | $ 699 | $ 699 |
| Charges payable in cash | 24,204 | 38,403 | |
| Cash payments | (27,258) | (26,617) | |
| Foreign currency translation | (691) | 1,646 | |
| Restructuring reserve, ending balance | 10,386 | 14,131 | |
| Stock-based compensation expense related to accelerated vesting of awards | 25,121 | 30,937 | |
| Employee Severance and Benefit Costs | |||
| Restructuring Reserve [Roll Forward] | |||
| Restructuring reserve, beginning balance | 13,297 | 699 | 699 |
| Charges payable in cash | 22,123 | 36,266 | |
| Cash payments | (24,670) | (25,328) | |
| Foreign currency translation | (768) | 1,660 | |
| Restructuring reserve, ending balance | 9,982 | 13,297 | |
| Stock-based compensation expense related to accelerated vesting of awards | 1,700 | ||
| Legal and Advisory Costs | |||
| Restructuring Reserve [Roll Forward] | |||
| Restructuring reserve, beginning balance | 834 | $ 0 | 0 |
| Charges payable in cash | 2,081 | 2,137 | |
| Cash payments | (2,588) | (1,289) | |
| Foreign currency translation | 77 | (14) | |
| Restructuring reserve, ending balance | $ 404 | $ 834 | |
INCOME TAXES (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Income Taxes [Line Items] | ||||
| Provision (benefit) for income taxes | $ 135 | $ (486) | $ 773 | $ (7,170) |
| Income (loss) from continuing operations before provision (benefit) for income taxes | 78,836 | $ (17,047) | 90,793 | $ (307,703) |
| International | ||||
| Income Taxes [Line Items] | ||||
| Proposed assessment for claims | 121,200 | |||
| Decrease in unrecognized tax benefits reasonably possible | $ 3,200 | $ 3,200 | ||
FAIR VALUE MEASUREMENTS - Fair Value, Assets and Liabilities, Reconciliation of Level 3 Inputs (Details) - Level 3 - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Contingent Consideration [Roll Forward] | ||||
| Contingent consideration, beginning balance | $ 0 | $ 278 | $ 326 | $ 1,298 |
| Settlements of contingent consideration liabilities | 0 | 0 | (393) | (908) |
| Total losses (gains) included in earnings | 0 | 0 | 0 | 6 |
| Foreign currency translation | 0 | 13 | 67 | (105) |
| Contingent consideration, ending balance | 0 | 291 | 0 | 291 |
| Unrealized gains (losses) still held | 0 | 0 | 0 | 6 |
| Fair value option investments | ||||
| Equity Method Investments [Roll Forward] | ||||
| Fair value option investments, beginning balance | 0 | 0 | 0 | 1,405 |
| Total gains (losses) included in earnings | 0 | 0 | 0 | (1,405) |
| Fair value option investments, ending balance | 0 | 0 | 0 | 0 |
| Unrealized gains (losses) still held | $ 0 | $ 0 | $ 0 | $ (1,405) |
FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) |
3 Months Ended | 9 Months Ended | ||||
|---|---|---|---|---|---|---|
Sep. 30, 2021 |
Jun. 30, 2021 |
Sep. 30, 2020 |
Mar. 31, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Unrealized gain on investments | $ 89,100,000 | $ 89,100,000 | ||||
| Gain on sale of equity investments | 2,200,000 | |||||
| Other than temporary impairments on equity method investments | $ 6,700,000 | |||||
| Goodwill impairment | 0 | $ 0 | 0 | 109,486,000 | ||
| Impairment of long-lived assets | 7,651,000 | 3,296,000 | 7,651,000 | 39,550,000 | ||
| Restructuring and related charges: | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Impairment of right-of-use assets and leasehold improvements | 7,700,000 | 3,300,000 | 7,700,000 | 17,200,000 | ||
| Impairment of long-lived assets | 7,651,000 | $ 3,296,000 | 7,651,000 | $ 17,199,000 | ||
| Other equity investments | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Unrealized gain on investments | $ 89,100,000 | 89,100,000 | ||||
| Percentage of other equity investment sold | 100.00% | 50.00% | ||||
| Equity method investments | $ 2,600,000 | $ 4,200,000 | $ 34,000,000 | |||
| Other than temporary impairments on equity method investments | $ 0 | $ 6,700,000 | $ 0 | |||
INCOME (LOSS) PER SHARE - Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Numerator | ||||
| Income (loss) - continuing operations | $ 78,701 | $ (16,561) | $ 90,020 | $ (300,533) |
| Less: Income (loss) attributable to noncontrolling interests | 594 | (291) | 737 | 1,758 |
| Basic net income (loss) attributable to common stockholders - continuing operations | 78,107 | (16,270) | 89,283 | (302,291) |
| Net income (loss) attributable to common stockholders - discontinued operations | 0 | 0 | 0 | 382 |
| Basic net income (loss) attributable to common stockholders | 78,107 | (16,270) | 89,283 | (301,909) |
| Diluted net income (loss) attributable to common stockholders - continuing operations | 78,107 | (16,270) | 89,283 | (302,291) |
| Net income (loss) attributable to common stockholders - discontinued operations | 0 | 0 | 0 | 382 |
| Diluted net income (loss) attributable to common stockholders | 78,107 | (16,270) | 89,283 | (301,909) |
| Plus: Interest expense from assumed conversion of convertible senior notes | 700 | 0 | 1,392 | 0 |
| Net income (loss) attributable to common stockholders plus assumed conversions | $ 78,807 | $ (16,270) | $ 90,675 | $ (301,909) |
| Denominator | ||||
| Shares used in computation of basic net income (loss) per share (in shares) | 29,567,802 | 28,751,520 | 29,282,932 | 28,535,393 |
| Weighted-average effect of diluted securities | ||||
| Shares used in computation of diluted net income (loss) per share (in shares) | 33,364,538 | 28,751,520 | 32,393,891 | 28,535,393 |
| Basic net income (loss) per share: | ||||
| Continuing operations (in usd per share) | $ 2.64 | $ (0.57) | $ 3.05 | $ (10.59) |
| Discontinued operations (in usd per share) | 0 | 0 | 0 | 0.01 |
| Basic net income (loss) per share (in usd per share) | 2.64 | (0.57) | 3.05 | (10.58) |
| Diluted net income (loss) per share: | ||||
| Continuing operations (in usd per share) | 2.36 | (0.57) | 2.80 | (10.59) |
| Discontinued operations (in usd per share) | 0 | 0 | 0 | 0.01 |
| Diluted net income (loss) per share (in usd per share) | $ 2.36 | $ (0.57) | $ 2.80 | $ (10.58) |
| Convertible senior notes due 2026 | ||||
| Weighted-average effect of diluted securities | ||||
| Dilutive effect of convertible senior notes (in shares) | 3,376,400 | 0 | 2,308,112 | 0 |
| Restricted stock units | ||||
| Weighted-average effect of diluted securities | ||||
| Dilutive effect of share-based payment arrangements (in shares) | 351,720 | 0 | 712,866 | 0 |
| Performance share units and other stock-based compensation awards | ||||
| Weighted-average effect of diluted securities | ||||
| Dilutive effect of share-based payment arrangements (in shares) | 68,616 | 0 | 89,981 | 0 |
INCOME (LOSS) PER SHARE - Schedule of Weighted-Average Potentially Dilutive Instruments (Details) - shares |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
| Antidilutive securities excluded from computation of earnings per share (in shares) | 4,230,704 | 6,688,136 | 5,033,783 | 6,709,231 |
| Restricted stock units | ||||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
| Antidilutive securities excluded from computation of earnings per share (in shares) | 854,304 | 1,907,396 | 410,856 | 1,879,752 |
| Performance share units and other stock-based compensation awards | ||||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
| Antidilutive securities excluded from computation of earnings per share (in shares) | 0 | 151,110 | 0 | 199,849 |
| Convertible senior notes due 2022 | ||||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
| Antidilutive securities excluded from computation of earnings per share (in shares) | 0 | 2,314,815 | 1,144,689 | 2,314,815 |
| Warrants | ||||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
| Antidilutive securities excluded from computation of earnings per share (in shares) | 0 | 2,314,815 | 1,170,126 | 2,314,815 |
| Capped call transactions | ||||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
| Antidilutive securities excluded from computation of earnings per share (in shares) | 3,376,400 | 0 | 2,308,112 | 0 |
| Market-based Performance Share Units | ||||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
| Shares issuable upon vesting of outstanding performance share units (in shares) | 57,668 | |||
SEGMENT INFORMATION - Schedule of Revenue by Segment (Details) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2021
USD ($)
|
Sep. 30, 2020
USD ($)
|
Sep. 30, 2021
USD ($)
segment
|
Sep. 30, 2020
USD ($)
|
|
| Schedule of Revenue by Segment [Line Items] | ||||
| Number of operating segments | segment | 2 | |||
| Total revenue | $ 214,171 | $ 304,019 | $ 743,946 | $ 1,073,815 |
| North America | ||||
| Schedule of Revenue by Segment [Line Items] | ||||
| Total revenue | 143,111 | 180,311 | 451,143 | 648,797 |
| North America | United States | ||||
| Schedule of Revenue by Segment [Line Items] | ||||
| Total revenue | 140,200 | 177,300 | 444,200 | 640,400 |
| International | ||||
| Schedule of Revenue by Segment [Line Items] | ||||
| Total revenue | 71,060 | 123,708 | 292,803 | 425,018 |
| International | United Kingdom | ||||
| Schedule of Revenue by Segment [Line Items] | ||||
| Total revenue | 21,400 | 42,900 | 100,400 | 151,100 |
| Service | ||||
| Schedule of Revenue by Segment [Line Items] | ||||
| Total revenue | 198,976 | 155,073 | 577,761 | 474,478 |
| Service | North America | ||||
| Schedule of Revenue by Segment [Line Items] | ||||
| Total revenue | 143,111 | 112,096 | 450,517 | 355,068 |
| Service | International | ||||
| Schedule of Revenue by Segment [Line Items] | ||||
| Total revenue | 55,865 | 42,977 | 127,244 | 119,410 |
| Local | North America | ||||
| Schedule of Revenue by Segment [Line Items] | ||||
| Total revenue | 129,131 | 98,561 | 394,358 | 322,945 |
| Local | International | ||||
| Schedule of Revenue by Segment [Line Items] | ||||
| Total revenue | 46,071 | 36,528 | 109,589 | 103,221 |
| Goods | North America | ||||
| Schedule of Revenue by Segment [Line Items] | ||||
| Total revenue | 9,189 | 8,787 | 37,266 | 18,401 |
| Goods | International | ||||
| Schedule of Revenue by Segment [Line Items] | ||||
| Total revenue | 5,879 | 3,309 | 9,429 | 8,821 |
| Travel | North America | ||||
| Schedule of Revenue by Segment [Line Items] | ||||
| Total revenue | 4,791 | 4,748 | 18,893 | 13,722 |
| Travel | International | ||||
| Schedule of Revenue by Segment [Line Items] | ||||
| Total revenue | 3,915 | 3,140 | 8,226 | 7,368 |
| Product | ||||
| Schedule of Revenue by Segment [Line Items] | ||||
| Total revenue | 15,195 | 148,946 | 166,185 | 599,337 |
| Product | North America | ||||
| Schedule of Revenue by Segment [Line Items] | ||||
| Total revenue | 0 | 68,215 | 626 | 293,729 |
| Product | International | ||||
| Schedule of Revenue by Segment [Line Items] | ||||
| Total revenue | $ 15,195 | $ 80,731 | $ 165,559 | $ 305,608 |
SEGMENT INFORMATION - Schedule of Gross Profit by Segment (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Segment Reporting Information [Line Items] | ||||
| Gross profit | $ 181,439 | $ 160,022 | $ 542,365 | $ 498,495 |
| North America | ||||
| Segment Reporting Information [Line Items] | ||||
| Gross profit | 126,810 | 109,717 | 399,380 | 355,180 |
| International | ||||
| Segment Reporting Information [Line Items] | ||||
| Gross profit | 54,629 | 50,305 | 142,985 | 143,315 |
| Service | North America | ||||
| Segment Reporting Information [Line Items] | ||||
| Gross profit | 126,810 | 98,821 | 399,212 | 307,581 |
| Service | International | ||||
| Segment Reporting Information [Line Items] | ||||
| Gross profit | 53,039 | 39,247 | 119,830 | 106,735 |
| Local | North America | ||||
| Segment Reporting Information [Line Items] | ||||
| Gross profit | 115,184 | 87,507 | 352,431 | 283,004 |
| Local | International | ||||
| Segment Reporting Information [Line Items] | ||||
| Gross profit | 43,876 | 33,687 | 103,495 | 93,054 |
| Goods | North America | ||||
| Segment Reporting Information [Line Items] | ||||
| Gross profit | 7,864 | 7,440 | 31,689 | 14,851 |
| Goods | International | ||||
| Segment Reporting Information [Line Items] | ||||
| Gross profit | 5,587 | 2,849 | 8,892 | 7,422 |
| Travel | North America | ||||
| Segment Reporting Information [Line Items] | ||||
| Gross profit | 3,762 | 3,874 | 15,092 | 9,726 |
| Travel | International | ||||
| Segment Reporting Information [Line Items] | ||||
| Gross profit | 3,576 | 2,711 | 7,443 | 6,259 |
| Product | North America | ||||
| Segment Reporting Information [Line Items] | ||||
| Gross profit | 0 | 10,896 | 168 | 47,599 |
| Product | International | ||||
| Segment Reporting Information [Line Items] | ||||
| Gross profit | $ 1,590 | $ 11,058 | $ 23,155 | $ 36,580 |
SEGMENT INFORMATION - Schedule of Contribution Profit by Segment (Details) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Schedule of Operating Income (Loss) by Segment | ||||
| Gross profit | $ 181,439,000 | $ 160,022,000 | $ 542,365,000 | $ 498,495,000 |
| Marketing | 53,159,000 | 31,386,000 | 130,545,000 | 116,758,000 |
| Contribution profit | 128,280,000 | 128,636,000 | 411,820,000 | 381,737,000 |
| Selling, general and administrative | 119,494,000 | 124,257,000 | 384,606,000 | 475,017,000 |
| Goodwill impairment | 0 | 0 | 0 | 109,486,000 |
| Impairment of long-lived assets | 0 | 0 | 0 | 22,351,000 |
| Restructuring and related charges | 12,483,000 | 20,559,000 | 34,150,000 | 61,037,000 |
| Income (loss) from operations | (3,697,000) | (16,180,000) | (6,936,000) | (286,154,000) |
| North America | ||||
| Schedule of Operating Income (Loss) by Segment | ||||
| Gross profit | 126,810,000 | 109,717,000 | 399,380,000 | 355,180,000 |
| Marketing | 38,302,000 | 19,718,000 | 94,247,000 | 73,203,000 |
| Contribution profit | 88,508,000 | 89,999,000 | 305,133,000 | 281,977,000 |
| Restructuring and related charges | 6,489,000 | 2,730,000 | 9,516,000 | 32,828,000 |
| International | ||||
| Schedule of Operating Income (Loss) by Segment | ||||
| Gross profit | 54,629,000 | 50,305,000 | 142,985,000 | 143,315,000 |
| Marketing | 14,857,000 | 11,668,000 | 36,298,000 | 43,555,000 |
| Contribution profit | 39,772,000 | 38,637,000 | 106,687,000 | 99,760,000 |
| Restructuring and related charges | $ 5,994,000 | $ 17,829,000 | $ 24,634,000 | $ 28,209,000 |
SEGMENT INFORMATION - Schedule of Total Assets by Segment (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
|---|---|---|
| Segment Reporting, Asset Reconciling Item [Line Items] | ||
| Assets | $ 1,087,871 | $ 1,411,507 |
| North America | ||
| Segment Reporting, Asset Reconciling Item [Line Items] | ||
| Assets | 801,090 | 971,110 |
| International | ||
| Segment Reporting, Asset Reconciling Item [Line Items] | ||
| Assets | 286,781 | 440,397 |
| United States | North America | ||
| Segment Reporting, Asset Reconciling Item [Line Items] | ||
| Assets | 788,300 | 948,100 |
| Switzerland | International | ||
| Segment Reporting, Asset Reconciling Item [Line Items] | ||
| Assets | $ 151,700 | |
| LUXEMBOURG | International | ||
| Segment Reporting, Asset Reconciling Item [Line Items] | ||
| Assets | $ 126,600 |
| Label | Element | Value |
|---|---|---|
| Accounting Standards Update [Extensible Enumeration] | us-gaap_AccountingStandardsUpdateExtensibleList | Accounting Standards Update 2016-13 [Member] |