Equity and Cost Method Businesses (Tables)

12 Months Ended

Dec. 31, 2013

Summarized Financial Information Related to Companies Accounted for Under Equity Method of Accounting

The following unaudited summarized financial information relates to ICG’s businesses accounted for under the equity method of accounting as of December 31, 2013 and 2012. This aggregate information has been compiled from the financial statements of those businesses.

Balance Sheets (Unaudited)

	December 31, 2013⁽¹⁾			December 31, 2012 ⁽²⁾
	(in thousands)
Cash and cash equivalents	$	5,909		$	5,572
Other current assets		2,002			11,268
Non-current assets		399			13,218
Total assets	$	8,310		$	30,058
Current liabilities	$	11,085		$	21,115
Non-current liabilities		65			1,397
Long-term debt		—			12,670
Stockholders’ deficit		(2,840	)		(5,124	)
Total liabilities and stockholders’ deficit	$	8,310		$	30,058
Total carrying value	$	775		$	13,333

⁽¹⁾	Includes (ICG voting ownership): Acquirgy (25%) and CIML (38%).

⁽²⁾	Includes (ICG voting ownership): Acquirgy (25%), Freeborders (31%) and WhiteFence (36%).

As of December 31, 2013, ICG’s aggregate carrying value in its equity method businesses exceeded ICG’s share of the net assets of those businesses by $1.3 million. Of this excess, $0.6 million is allocated to goodwill, which is not amortized, and $0.7 million is allocated to intangibles, which are generally being amortized over five years. As of December 31, 2012, this excess was $15.3 million, $12.0 million of which was allocated to goodwill, and $3.3 million of which was allocated to intangibles. Amortization expense associated with those intangibles for the years ended December 31, 2013, 2012 and 2011 was $0.2 million, $1.2 million and $2.0 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 ICG’s Consolidated Statements of Operations.

Results of Operations

Results of Operations (Unaudited)

	Year ended December 31,
	2013 ⁽¹⁾			2012 ⁽²⁾			2011 ⁽³⁾
Revenue	$	48,316		$	89,958		$	176,481
Net income (loss)	$	(9,238	)	$	(20,159	)	$	(31,976	)
Equity income (loss) excluding impairments and amortization of intangible assets	$	(2,798	)	$	(7,518	)	$	(9,946	)
Amortization of intangible assets	$	(165	)		(1,154	)		(2,018	)
Total equity income (loss)	$	(2,963	)	$	(8,672	)	$	(11,964	)

⁽¹⁾	Includes Acquirgy, CIML, Freeborders (through October 18, 2013, the date of disposition) and WhiteFence (through October 28, 2013, the date of disposition).

⁽²⁾	Includes Acquirgy, Bolt (through December 27, 2012, the date of consolidation), CIML (through July 11, 2012, the date of consolidation), Freeborders, GoIndustry (through July 5, 2012, the date of disposition) and WhiteFence.

⁽³⁾	Includes Acquirgy, Bolt, CIML, ClickEquations (through June 14, 2011, the date of disposition), Freeborders, GoIndustry, Metastorm (through February 17, 2011, the date of disposition), StarCite (through December 30, 2011, the date of disposition) and WhiteFence.