Commitments and Contingencies

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Actua and its consolidated subsidiaries are involved in various claims and legal actions arising in the ordinary course of business. In the opinion of management, the amount of the ultimate liability with respect to legal claims/actions will not materially affect the financial position, results of operations or cash flows of Actua or its consolidated businesses.

Actua and its consolidated businesses lease their facilities under operating lease agreements expiring 2016 through 2027. Future minimum lease payments as of December 31, 2015 under the leases are as follows:



(in thousands)	Minimum lease payments ⁽¹⁾
2016	$	5,021
2017	$	6,538
2018	$	6,052
2019	$	6,035
2020	$	5,529
Thereafter	$	38,048


⁽¹⁾	Amounts disclosed above are offset by sublease income of $0.3 million for each of the years ended 2016 through 2020 and thereafter.

Rent expense under the non-cancellable operating leases was $3.6 million, $1.3 million and $2.4 million for the years ended December 31, 2015, 2014 and 2013, respectively.

During 2008 and 2009, two carried interest plans (one in each year) were established, for which a carried interest of 15% is allocable to Actua’s management participants in each plan. Carried interest will be paid in connection with a liquidity event or income receipt at any of the businesses in which the carried interest plans hold interests, subject to an aggregate specified hurdle threshold and hold-back and claw-back criteria. Actua has deployed approximately $78 million to date with respect to these plans, including approximately $19.5 million in 2014 and $23.5 million in 2013; there were no cash deployments related to these plans in 2015. Actua’s ownership in Bolt acquired prior to 2015 is held in the 2009 carried interest plan, and the activities over the past few years relative to the 2009 carried interest plan primarily relate to cash deployment from Actua to achieve its objectives of increasing its ownership in, and supporting the cash needs of, Bolt. Beginning in 2015, any additional cash deployment to Bolt was not be included in the carried interest plans. Other than the stake in Bolt held by the 2009 carried interest plan, the assets held by the carried interest plans are immaterial to Actua. Actua does not expect a liquidity event or income receipt at any of the relevant businesses that would trigger a payment under either of the carried interest plans to occur in the near future, and, accordingly, Actua has not recorded a liability with respect to these plans. Once a liquidity event or income receipt at any of the relevant businesses that would yield proceeds in excess of the calculated hurdle rate occurs, and a payment becomes probable and estimable, Actua would record the appropriate liability. Payments against that liability would occur thereafter subject to relevant hold-backs and claw-backs. As of December 31, 2015, the aggregate specified hurdle thresholds related to both carried interest plans had not been met.