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Discontinued Operations
 9 Months Ended
Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations
On September 20, 2016, GovDelivery, which was included in our vertical cloud segment, executed a definitive merger agreement providing for a sale of the company to an affiliate of Vista Equity Partners for $153.0 million in cash, subject to certain adjustments for working capital, cash, debt and other items. Upon the consummation of the transaction, which occurred on October 18, 2016, Actua realized approximately $133.0 million in cash. Actua has received approximately $123.0 million of cash and approximately $10.0 million of Actua's proceeds are being held in escrow and are subject to potential indemnification claims.  Actua does not expect to owe any non-reimbursable income taxes in connection with the transaction. No gain or loss on the sale of GovDelivery has been recognized as of September 30, 2016.  Based on this and other relevant factors, the criteria for held-for-sale classification and discontinued operations presentation was met on September 30, 2016. For presentational purposes, all prior periods presented in this Report have been reclassified to match the current periods held for sale classification and discontinued operations presentation. 
The results of Actua's discontinued GovDelivery operations, which are presented on the line item “Loss from discontinued operations, net of tax”, on Actua’s Consolidated Statements of Operations are summarized below:
(in thousands)
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
Major classes of line items constituting pretax loss of discontinued operations
 
2016
 
2015
 
2016
 
2015
Revenue
 
$
11,361

 
$
9,223

 
$
30,640

 
$
25,311

Cost of revenue
 
(4,554
)
 
(2,964
)
 
(11,576
)
 
(8,609
)
Selling, general, administrative and other operating expenses
 
(10,545
)
 
(8,532
)
 
(26,763
)
 
(23,669
)
Other non-major income and expense items
 
(104
)
 
(40
)
 
(273
)
 
(44
)
Total discontinued operations before income taxes
 
(3,842
)
 
(2,313
)
 
(7,972
)
 
(7,011
)
Income tax benefit (expense)
 
—

 
(18
)
 
(30
)
 
(21
)
Total discontinued operations, net of income taxes
 
(3,842
)
 
(2,331
)
 
(8,002
)
 
(7,032
)
Less: discontinued operations attributable to noncontrolling interests
 
(235
)
 
(181
)
 
(446
)
 
(493
)
Discontinued operations attributable to Actua Corporation
 
$
(3,607
)
 
$
(2,150
)
 
$
(7,556
)
 
$
(6,539
)


Assets and liabilities of discontinued operations, which are presented on the line items “Assets of discontinued operations” and “Liabilities of discontinued operations” on Actua's Consolidated Balance Sheets consist of the following:
(in thousands)
 
 
 
 
Carrying amounts of major classes of assets included as part of discontinued operations
 
September 30, 2016
 
December 31, 2015
Cash and cash equivalents
 
$
187

 
$
3,856

Accounts receivables, net of allowance
 
12,963

 
3,735

Fixed assets, net of accumulated depreciation and amortization
 
4,363

 
4,502

Goodwill
 
5,575

 
5,575

Intangible assets, net
 
7,504

 
8,952

Other assets included in the disposal group
 
3,017

 
2,509

Total assets of discontinued operations
 
$
33,609

 
$
29,129

 
 
 
 
 
 
 
 
 
 
Carrying amounts of major classes of liabilities included as part of discontinued operations
 
September 30, 2016
 
December 31, 2015
Accounts payable
 
$
1,111

 
$
3,309

Accrued expenses
 
1,049

 
2,764

Accrued compensation and benefits
 
3,076

 
2,386

Deferred revenue
 
21,812

 
14,180

Other liabilities included in the disposal group
 
4,643

 
1,752

Total liabilities of discontinued operations
 
$
31,691

 
$
24,391