Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table summarizes the activity related to Actua’s goodwill (in thousands):



	Gross Carrying Amount		Accumulated Impairment Losses			Net Carrying Amount
Goodwill as of December 31, 2014	$	265,388	$	(304	)	$	265,084
Increase in goodwill due to GovDelivery's acquisition of Textizen	593		—			593
Goodwill as of September 30, 2015	$	265,981	$	(304	)	$	265,677

During the nine months ended September 30, 2015, Bolt revised its initial purchase price allocation related to its 2014 acquisition of Ludwig-Walpole Company Inc. ("Ludwig"). During the nine months ended September 30, 2015, Actua revised its initial purchase price allocation related to its 2014 acquisition of FolioDynamix. Based on those revisions, Actua retrospectively increased the value of goodwill as of December 31, 2014 by an aggregate amount of $0.9 million, which was offset by a decrease in intangible assets in the amount of $0.3 million, and an increase in financial liabilities in the amount of $0.6 million. The purchase price allocation related to that transaction is detailed in Note 4, “Consolidated Businesses.” As of September 30, 2015 and December 31, 2014, all of Actua’s goodwill was allocated to its vertical cloud segment.

Intangible Assets

The following table summarizes Actua’s intangible assets from continuing operations (in thousands):



		As of September 30, 2015
		Gross Carrying		Accumulated			Net Carrying
Intangible Assets	Useful Life	Amount		Amortization			Amount
Customer relationships	1-11 years	$	75,120	$	(20,695	)	$	54,425
Trademarks/trade names	3-11 years	24,822		(6,898		)	17,924
Technology	5-10 years	25,752		(7,085		)	18,667
Non-compete agreements	2-5 years	3,645		(3,541		)	104
		129,339		(38,219		)	91,120
Other intellectual property (1)	2 years-Indefinite	700		—			700
		$	130,039	$	(38,219	)	$	91,820



		As of December 31, 2014
		Gross Carrying		Accumulated			Net Carrying
Intangible Assets	Useful Life	Amount		Amortization			Amount
Customer relationships	1-11 years	$	74,656	$	(14,817	)	$	59,839
Trademarks/trade names	3-11 years	24,543		(4,322		)	20,221
Technology	5-10 years	25,223		(4,263		)	20,960
Non-compete agreements	2-5 years	3,645		(3,367		)	278
		128,067		(26,769		)	101,298
Other intellectual property (1)	2 years-Indefinite	700		—			700
		$	128,767	$	(26,769	)	$	101,998

(1) Included in this line item is a domain name valued at $0.3 million that Actua currently believes has an indefinite life, and a domain name with a two-year useful life for which Actua estimated the residual value to approximate its carrying value of $0.4 million as of both September 30, 2015 and December 31, 2014.

Amortization expense for intangible assets during the three and nine months ended September 30, 2015 was $3.7 million and $11.5 million, respectively. Amortization expense for intangible assets during the three and nine months ended September 30, 2014 was 2.4 million and $7.0 million, respectively.

Remaining estimated amortization expense for the respective years set forth below is as follows (in thousands):



2015 (remaining three months)	$	3,749
2016	14,890
2017	14,351
2018	13,234
2019	12,507
Thereafter	32,389
Remaining amortization expense	$	91,120

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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