NetSpend 2015 Annual Report Download - page 63

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The changes in the carrying amount of goodwill as of December 31, 2015 and 2014 are as follows:
(in thousands) North America
Services International
Services Merchant
Services NetSpend Consolidated
Balance as of December 31, 2013 ...... $70,796 34,201 413,748 1,024,434 $ 1,543,179
Disposal of GP Net ................ (182) (1,605) — — (1,787)
NetSpend purchase price
allocation ...................... — — — 8,525 8,525
Currency translation adjustments .... — (2,520) — — (2,520)
Balance as of December 31, 2014 ...... $70,614 30,076 413,748 1,032,959 $ 1,547,397
NetSpend tax adjustment ......... — — — 627 627
Currency translation adjustments .. — (2,600) — — (2,600)
Balance as of December 31, 2015 .... $70,614 $27,476 $413,748 $1,033,586 $1,545,424
Refer to Note 24 for more information on acquisitions.
Note 8 Other Intangible Assets, net
In 2015, the changes related to other gross intangible assets were related to foreign currency translation and an
acquisition of an acquisition technology intangible asset. Refer to Note 24 for more information on acquisitions.
Significant components of other intangible assets as of December 31, 2015 and 2014 are summarized as follows:
2015
(in thousands) Gross Accumulated
Amortization Net
Channel relationships .......................................... $ 318,600 (99,909) $218,691
Customer relationships ......................................... 166,579 (104,736) 61,843
Trade name ................................................... 46,422 (24,422) 22,000
Database ..................................................... 28,000 (14,000) 14,000
Covenants-not-to-compete ..................................... 14,940 (7,834) 7,106
Trade association .............................................. 10,000 (5,750) 4,250
Favorable lease ............................................... 875 (445) 430
Total ....................................................... $ 585,416 (257,096) $328,320
2014
(in thousands) Gross Accumulated
Amortization Net
Channel relationships ............................................. $318,600 (60,079) $258,521
Customer relationships ............................................ 167,140 (87,201) 79,939
Trade name ..................................................... 46,480 (15,680) 30,800
Database ....................................................... 28,000 (8,400) 19,600
Covenants-not-to-compete ........................................ 14,940 (5,551) 9,389
Trade association ................................................. 10,000 (4,750) 5,250
Favorable lease .................................................. 875 (267) 608
Total ....................................................... $586,035 (181,928) $404,107
Amortization related to other intangible assets, which is recorded in selling, general and administrative expenses,
was $75.8 million, $77.3 million and $50.0 million for 2015, 2014 and 2013, respectively.
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