Equity and Cost Method Businesses

Equity Method Businesses

Actua did not own any equity method businesses during 2015. The following unaudited summarized financial information relates to, and has been compiled from the financial statements of Actua’s businesses, Acquirgy (Actua voting ownership of 25%) and CIML (Actua voting ownership of 38%), accounted for under the equity method of accounting as of December 31, 2014. Acquirgy, CIML, Freeborders, Inc. (through October 18, 2013, the date of disposition), and WhiteFence, Inc. (through October 28, 2013, the date of disposition) were accounted for under the equity method of accounting as of December 31, 2013.

Acquirgy wound down and ceased its operations during early 2015. During the year ended December 31, 2015, Actua received a loan repayment from Acquirgy in the amount of $0.4 million. CIML ceased operations in 2014.

Balance Sheet (Unaudited)



(in thousands)	December 31, 2014⁽¹⁾
Cash and cash equivalents	$	4,487
Other current assets	966
Non-current assets	51
Total assets	$	5,504

Current liabilities (including current portion of long-term debt)	$	9,411
Non-current liabilities	57
Long-term debt	—
Stockholders' deficit	(3,964		)
Total liabilities and stockholders' deficit	$	5,504

Total carrying value	$	—

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⁽¹⁾ Includes Acquirgy and CIML.

Amortization expense associated with those intangibles for the years ended December 31, 2014 and 2013 was $0.1 million and $0.2 million, respectively; that amortization expense is included in the table below in the line item “Amortization of intangible assets” and is included in the line item “Equity loss” on Actua’s Consolidated Statements of Operations.

Results of Operations (Unaudited)



(in thousands)	Year ended December 31,
	2014 ⁽¹⁾			2013 ⁽²⁾
Revenue	$	8,763		$	48,316

Net income (loss)	$	(1,110	)	$	(9,238	)

Equity income (loss) excluding impairments and amortization of intangible assets	$	(632	)	$	(2,798	)
Amortization of intangible assets	(144		)	(165		)
Total equity income (loss)	$	(776	)	$	(2,963	)

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⁽¹⁾	Includes Acquirgy and CIML.


⁽²⁾	Includes Acquirgy, CIML, Freeborders, Inc. and WhiteFence, Inc.

Cost Method Businesses

Actua’s carrying value of its holdings in cost method businesses was $18.1 million and $17.7 million as of December 31, 2015 and December 31, 2014, respectively. Those amounts are reflected in the line item “Equity and cost method businesses” in Actua’s Consolidated Balance Sheets as of the relevant years.

Actua owns approximately 9% of Anthem Ventures Fund, L.P. (formerly eColony, Inc.) and Anthem Ventures Annex Fund, L.P. (collectively, “Anthem”), which invest in technology companies. Actua acquired its interest in Anthem in 2000 and currently has no carrying value in Anthem. Accordingly, the receipt of distributions from Anthem by Actua would result in a gain at the time Actua receives those distributions.

During the year ended December 31, 2015, Actua received a distribution from Anthem that resulted in proceeds of $1.0 million, and recorded a gain in that amount that is reflected in the line item, “Other income (loss), net” in Actua’s Consolidated Statements of Operations for the year ended December 31, 2015.

Impairments

Actua performs ongoing business reviews of its equity and cost method businesses to determine whether Actua’s carrying value in those businesses is impaired. Actua determined its carrying value in its equity and cost method businesses was not impaired during the years ended December 31, 2015, 2014 and 2013.