Intangible Assets and Goodwill

6 Months Ended

Jun. 30, 2015

4.Intangible Assets and Goodwill

The following table summarizes intangible assets as of June 30, 2015 and December 31, 2014 (in thousands):

	Weighted-Average	June 30, 2015
	Amortization Period (Years)	Gross Carrying Amount		Accumulated Amortization			Net Book Value
Trademarks	5	$	1,995	$	(801	)	$	1,194
Customer relationships	5	1,300		(498		)	802
Non-compete agreements	3 - 5	107		(69		)	38
Technology	5	673		(516		)	157
Other intangibles	3	373		(215		)	158
Domain names	5	2,687		(2,684		)	3

Total		$	7,135	$	(4,783	)	$	2,352

	Weighted-Average	December 31, 2014
	Amortization Period (Years)	Gross Carrying Amount		Accumulated Amortization			Net Book Value
Trademarks	5	$	2,001	$	(604	)	$	1,397
Customer relationships	5	1,300		(368		)	932
Non-compete agreements	3 - 5	108		(52		)	56
Technology	5	718		(467		)	251
Other intangibles	3	373		(158		)	215
Domain names	5	2,687		(2,684		)	3

Total		$	7,187	$	(4,333	)	$	2,854

Amortization expense related to intangible assets was $0.2 million and $0.3 million for the three months ended June 30, 2015 and 2014, respectively, and $0.5 million for the six months ended June 30, 2015 and 2014.

The following table presents the changes in goodwill during the six months ended June 30, 2015 (in thousands):

	Net Book Value
Goodwill as of December 31, 2014	$	3,624
Foreign currency exchange rate effect	(104		)

Goodwill as of June 30, 2015	$	3,520

In July 2015 the Company sold its Australian-based business in order to strategically focus its resources on its North America and Europe markets. As of June 30, 2015, the net carrying amounts of the goodwill and intangible assets of the Australian-based business were $1.6 million and $0.2 million, respectively. The proceeds from the sale exceeded the carrying value of the Australian-based business.

- 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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