Citrix 2012 Annual Report Download - page 85

F-19
Purchase Accounting for the Acquisitions in 2012
The purchase prices for the companies acquired during the year ended December 31, 2012, which include Podio,
Bytemobile and the 2012 Other Acquisitions (collectively, the "2012 Acquisitions"), were allocated to the respective acquired
company's net tangible and intangible assets based on their estimated fair values as of the date of the acquisition. The
allocations of the total purchase prices are summarized below (in thousands):
Podio Bytemobile 2012 Other Acquisitions
Purchase
Price
Allocation Asset Life
Purchase
Price
Allocation Asset Life
Purchase
Price
Allocation Asset Life
Current assets $ 1,906 $ 58,849 $ 2,585
Other assets 33 7,406 75
Property and equipment — 2,484 Various 209 Various
Deferred tax assets, non-current — 39,976 11,752
Intangible assets 24,600 4-5 years 248,900 1-9 years 29,002 3-5 years
Goodwill 25,473 Indefinite 225,344 Indefinite 33,042 Indefinite
Assets acquired 52,012 582,959 76,665
Current liabilities assumed (609) (57,569)(7,494)
Long-term liabilities assumed — (4,487)(7,760)
Deferred tax liabilities, non-current (6,150) (115,768)(11,039)
Net assets acquired $ 45,253 $ 405,135 $ 50,372
Current assets acquired in connection with the 2012 Acquisitions consisted primarily of cash and accounts receivable.
Current liabilities assumed in connection with the 2012 Acquisitions consisted primarily of current portion of deferred
revenues, short-term payables, other accrued expenses and short-term debt which was paid in full subsequent to the respective
acquisition date. Long-term liabilities assumed in connection with the 2012 Acquisitions consisted of other long-term liabilities,
long-term portion of deferred revenues and long-term debt which was paid in full subsequent to the respective acquisition date.
The fair value of assets acquired and liabilities assumed was based upon a preliminary valuation and our estimates and
assumptions are subject to change within the measurement period. The primary areas of the purchase price that are not yet
finalized are deferred revenue of Bytemobile and certain income tax assets and liabilities related to the 2012 acquisitions.
Goodwill from the Podio, Bytemobile and the 2012 Other Acquisitions was assigned to the Company's division of which each
business became a part, as indicated above. The goodwill related to the 2012 Acquisitions is not deductible for tax purposes.
See Note 11 for segment information. The goodwill amounts are comprised primarily of expected synergies from combining
operations and other intangible assets that do not qualify for separate recognition.
Revenues from the Podio, Bytemobile and the 2012 Other Acquisitions are included in the revenue as of the date of
acquisition of the Company's division of which each business became a part, as indicated above. The Company has included
the effect of the 2012 Acquisitions in its results of operations prospectively from the date of each acquisition.
Identifiable intangible assets acquired in connection with the 2012 Acquisitions (in thousands) and their weighted-average
lives are as follows:
Podio Asset Life Bytemobile Asset Life
2012 Other
Acquisitions Asset Life
Trade names $ — — $ 6,000 6.0 years $ — —
Customer relationships 3,900 4.0 years 141,500 9.0 years 2,100 3.0 years
Core and product technologies 20,700 5.0 years 100,500 4.8 years 26,902 4.5 years
In-process R&D (1) — — 900 Indefinite —
Total $ 24,600 $ 248,900 29,002
(1) Capitalized acquired in-process R&D costs will remain capitalized until such time as the projects are complete, at which
point they will be amortized, or they will be written off when it is probable the projects will not be completed.
CITRIX SYSTEMS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS