Classmates.com 2004 Annual Report Download - page 109

Download and view the complete annual report

Please find page 109 of the 2004 Classmates.com annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 134

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134

UNITED ONLINE, INC.
SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS
(in thousands)
(a)
Balance at
Beginning of
Period
Charged/
(Credited) to
Expense
Charged
to Other
Accounts
Charges
Utilized/
Writeoffs
Balance at End
of Period
Allowance for doubtful
accounts:
Year ended December 31, 2004
$
288
$
75
$
284
(b)
$
—
$
647
Six months ended December 31,
2003
288
—
—
—
288
Year ended June 30, 2003
333
—
—
45
(a)
288
Year ended June 30, 2002
354
98
—
119
(a)
333
Valuation allowance for
deferred tax assets:
Year ended December 31, 2004
$
87,212
$
(67,478
)(d)
$
(20,783
)(e)
$
(2,987
)(f)
$
1,938
Six months ended December 31,
2003
95,423
(12,292
)(d)
(16,408
)(e)
(20,489
)(g)
87,212
Year ended June 30, 2003
110,360
(12,207
)(d)
(3,720
)(e)
(990
)(f)
95,423
Year ended June 30, 2002
98,554
11,725
(c)
—
(
81
)
110,360
Represents specific amounts written off that were considered to be uncollectible.
(b) Represents allowance for doubtful accounts acquired in connection with the acquisition of Classmates.
(c) Represents the increase in valuation allowance primarily due to an increase in the current period net operating loss.
(d)
Represents the release of valuation allowance primarily to recognize the actual and future tax benefits of deferred tax assets.
(e) Represents the release of valuation allowance primarily to recognize the future tax benefits for stock option deductions and net operating
losses acquired in the Merger.
(f)
Represents net adjustments to the valuation allowance primarily related to the Merger.
(g)
Represents the increase to the valuation allowance primarily due to stock option deductions and acquired net operating loss carryforwards
in connection with the Merger pursuant to IRS Notice 2003-65.
F-40