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The Company
 3 Months Ended
Mar. 31, 2014
The Company

1. The Company

Description of the Company

ICG Group, Inc. (together with its subsidiaries, “ICG”) was formed on March 4, 1996 and is a multi-vertical cloud technology company with offerings that create unique and compelling value for our customers and provide transformative efficiency to vertical markets worldwide.

Basis of Presentation

The Consolidated Financial Statements contained herein (the “Consolidated Financial Statements”) include the accounts of ICG Group, Inc. and its wholly-owned subsidiaries, wholly-controlled subsidiaries and majority-owned subsidiaries.

ICG’s Consolidated Balance Sheets as of March 31, 2014 and December 31, 2013 include the financial position of the following majority-owned subsidiaries:

 

As of:

March 31, 2014

  

December 31, 2013

Bolt

  

Bolt

GovDelivery

  

GovDelivery

MSDSonline

  

MSDSonline

QC Holdings (1)

  

QC Holdings (1)

ICG’s Consolidated Statements of Operations and Comprehensive Income (Loss) (its “Consolidated Statements of Operations”) for the years ended December 31, 2013, 2012 and 2011 included the results of the following majority-owned subsidiaries:

 

Three Months Ended March 31,

2014

  

2013

Bolt

  

Bolt

GovDelivery

  

CIML (2)

MSDSonline

  

GovDelivery

QC Holdings (1)

  

MSDSonline

(1) 

QC Holdings, Inc. (f/k/a WhiteFence, Inc.) (“QC Holdings”) is the entity that holds the remaining assets of WhiteFence following the sale of substantially all of WhiteFence’s assets to Allconnect, Inc. (“Allconnect”) on October 28, 2013.  The $2.8 million of net assets of QC Holdings consist primarily of a receivable related to a deferred payment from the Allconnect transaction and the legal rights to a patent.

(2) 

CIML was a consolidated company from July 11, 2012, when ICG increased its ownership in that company to 52%, until February 20, 2013, when ICG’s equity ownership interest in CIML was reduced to 38% as a result of the exercise of existing warrants and options in conjunction with the sale of Channel Intelligence to Google. As a result of that sale, Channel Intelligence is presented as discontinued operations in the Consolidated Financial Statements for the relevant periods and is not included in the table above; CIML (including mylist) continues to be included in continuing operations in ICG’s Consolidated Financial Statements for the period for which it was consolidated.