Business Combinations and Divestitures

12 Months Ended

Dec. 31, 2016

Business Combinations

During 2016, we completed six acquisitions — Cargigi Inc., Expertmaker, SalesPredict, Ticketbis, Ticket Utils and Corrigon Ltd. — for an aggregate purchase consideration of approximately $212 million, consisting of cash. We believe these acquisitions will help us build a better user experience, improve discoverability and grow our international presence. Acquisition activity in 2015 was immaterial.

The consolidated financial statements include the operating results of acquired businesses from the date of each acquisition. Pro forma results of operations for these acquisitions have not been presented because the effect of the acquisitions were not material to our financial results.

The aggregate purchase consideration of our 2016 acquisitions was allocated as follows:



	Ticketbis			Other			Total
Purchased intangible assets	$	48		$	28		$	76
Goodwill	128			57			185
Net liabilities	(35		)	(14		)	(49		)
Total	$	141		$	71		$	212

These allocations have been prepared on a preliminary basis and changes to these allocations may occur as additional information becomes available. We generally do not expect goodwill to be deductible for income tax purposes.

Divestitures

Divestiture activity in 2016 was immaterial. During 2015, we completed the Distribution of PayPal and the sale of Enterprise. See “Note 4 - Discontinued Operations” for additional information.