Table of Contenta the settlement of these intercompany transactions rs reflected in the combined statement of cash flows as a financing activity and in the combined balance sheet as "Invested capital." The notes payable due to IAC subsidiaries are included in 'Long-term debt—related party" in the accompanying combined balance sheet. In the opinion of Match Group, Inc.'s management, the assumptions undertying the historical combined financial statements of Match Group. Inc., including the basis on which the expenses have been allocated from IAC, are reasonable. However, the allocations may not reflect the expenses that we may have incurred as an independent, stand-alone company for the periods presented. The accompanying unaudited combined financial statements have been prepared in accordance with GAAP for interim financial information and with the rules and regulations of the SEC. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management. the accompanying unaudited combined financial statements include all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation. Interim results are not necessanly indicative of the results that may be expected for the full year. The accompanying unaudited combined financial statements should be read in conjunction with the combined annual financial statements and notes thereto for the year ended December 31, 2014. Accounting estimates The preparation of combined financial statements in accordance with GAAP requires management to make certain estimates. judgments and assumptions that impact the reported amounts of assets. liabilities, revenue and expenses and the related disclosure of contingent assets and liabilities. Actual results could differ from these estimates. On an ongoing basis. the Company evaluates its estimates and judgments including those related to: the recoverability of g