INTANGIBLE ASSETS AND GOODWILL

9 Months Ended

Sep. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

The Company’s goodwill is the result of its acquisitions of other businesses, and represents the excess of purchase consideration over the fair value of assets and liabilities acquired. The Company performed its annual goodwill impairment analysis during the three months ended September 30, 2017 and concluded that goodwill was not impaired, as the fair value of each reporting unit exceeded its carrying value.

The changes in carrying amount of goodwill during the nine months ended September 30, 2017 were as follows (in thousands):



Balance as of December 31, 2016	$	170,667
Additions upon business combinations	42,007
Goodwill measurement period adjustment	(178		)
Effect of currency translation	5,458
Goodwill reclassified to assets held for sale	(110,768		)
Balance as of September 30, 2017	$	107,186

Goodwill associated with asset group held for sale consisted of Eat24, LLC, a wholly owned subsidiary of the Company ("Eat24"), reclassified as assets held for sale as of September 30, 2017. Refer to Note 9 for details.

Intangible assets at September 30, 2017 and December 31, 2016 consisted of the following (dollars in thousands):



	September 30, 2017
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Remaining Life
Business relationships	$	9,919	$	(655	)	$	9,264	10.5	years
Developed technology	7,834		(1,752		)	6,082		4.3	years
Domains and data licenses	2,869		(1,719		)	1,150		2.5	years
Trademarks	999		(285		)	714		2.4	years
Content	3,961		(3,476		)	485		1.9	years
User relationships	146		(26		)	120		2.5	years
Total	$	25,728	$	(7,913	)	$	17,815

	December 31, 2016
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Remaining Life
Business relationships	$	17,400	$	(2,741	)	$	14,659	10.1	years
Developed technology	9,280		(4,122		)	5,158		3.1	years
Domains and data licenses	2,804		(1,340		)	1,464		3.0	years
Trademarks	3,338		(1,861		)	1,477		2.1	years
Content	3,674		(2,581		)	1,093		2.0	years
User relationships	12,000		(3,240		)	8,760		5.1	years
Advertiser relationships	1,549		(1,549		)	—		0.0	years
Total	$	50,045	$	(17,434	)	$	32,611

Amortization expense was $1.4 million and $1.7 million for the three months ended September 30, 2017 and 2016, respectively, and $5.7 million and $5.1 million for the nine months ended September 30, 2017 and 2016, respectively. As of September 30, 2017, the estimated future amortization of purchased intangible assets for (i) the remaining three months of 2017, (ii) each of the succeeding four years, and (iii) thereafter is as follows (in thousands):



Year Ending December 31,	Amount
2017 (from October 1, 2017)	$	920
2018	3,534
2019	3,278
2020	2,402
2021	2,262
Thereafter	5,419
Total amortization	$	17,815

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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