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Table of Contents
UNITED ONLINE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
4. GOODWILL, INTANGIBLE ASSETS AND OTHER LONG-LIVED ASSETS (Continued)
Intangible Assets
Intangible assets consisted of the following (in thousands):
The Company's acquired trademarks and trade names related to the FTD acquisition of $229.8 million, prior to impairment charges, are
indefinite-lived, and accordingly there is no associated accumulated amortization. At December 31, 2009, the FTD trademarks and trade names
after impairment and foreign currency translation adjustments totaled $158.2 million.
Amortization expense related to intangible assets for the years ended December 31, 2009, 2008 and 2007 was $34.8 million, $18.4 million
and $12.8 million, respectively.
Estimated future intangible asset amortization expense at December 31, 2009 was as follows (in thousands):
5. CREDIT AGREEMENTS
UOL Credit Agreement
In connection with the FTD acquisition, in August 2008, United Online entered into a $60 million senior secured credit agreement with
Silicon Valley Bank (the "UOL Credit Agreement") and
F-24
December 31, 2009
Gross
Value
Accumulated
Amortization
Net
Pay accounts and free accounts
$
100,825
$
(88,935
)
$
11,890
Customer contracts and relationships
112,575
(31,856
)
80,719
Trademarks and trade names
184,020
(14,912
)
169,108
Software and technology
46,726
(16,279
)
30,447
Patents, domain names and other
4,602
(4,246
)
356
Total
$
448,748
$
(156,228
)
$
292,520
December 31, 2008
Gross Value Accumulated Amortization Net
Pay accounts and free accounts
$
100,785
$
(85,658
)
$
15,127
Customer contracts and relationships
110,570
(11,805
)
98,765
Trademarks and trade names
179,300
(12,221
)
167,079
Software and technology
46,047
(7,884
)
38,163
Patents, domain names and other
4,596
(3,494
)
1,102
Total
$
441,298
$
(121,062
)
$
320,236
Year Ending December 31,
Total
2010
2011
2012
2013
2014
Thereafter
Estimated
amortization
of intangible
assets
$
134,286
$
32,297
$
30,461
$
29,315
$
26,554
$
14,733
$
926