Blackberry 2015 Annual Report Download - page 97
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BlackBerry Limited
Notes to the Consolidated Financial Statements
In millions of United States dollars, except share and per share data, and except as otherwise indicated
22
The following table summarizes the preliminary fair value allocations of the acquisition price of the assets and liabilities
acquired during fiscal 2015:
Assets purchased
Current assets $ 7
Property, plant and equipment 1
Intangible assets 71
Goodwill(1) 76
155
Liabilities assumed
Accounts payable 2
Deferred revenue 8
Deferred income tax liability 18
28
Net non-cash assets acquired 127
Cash acquired 3
Net assets acquired $ 130
Consideration
Cash consideration $ 104
Settlement of acquiree debt(2) 18
Contingent consideration(3) 8
$ 130
_______________
(1) Goodwill represents the excess of the acquisition price over the fair value of net assets acquired, which is not
expected to be deductible for tax purposes when goodwill results from share purchases.
(2) $18 million in cash was paid to existing debt holders as part of the Movirtu acquisition. The Company assumed
the outstanding balance of the debt.
(3) As part of the Secusmart acquisition, the Company has agreed to additional consideration contingent upon the
achievement of certain financial targets, the fair value of which has been determined to be $8 million.
The weighted-average amortization period of the acquired technology related to the business acquisitions completed
during the year ended February 28, 2015 is approximately 5 years.
8. RESTRUCTURING
Cost Optimization and Resource Efficiency (“CORE”) Program
In fiscal 2013, the Company commenced the CORE program with the objective of improving the Company’s operations
and increasing efficiency. During fiscal 2015, the Company incurred approximately $322 million in total pre-tax charges
related to the CORE program, related to employee termination benefits, facilities and manufacturing network
simplification costs. No further charges are expected to be incurred under the CORE program.