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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 relate to the acquisition by the Company of FTD in August 2008 are indefinite-lived
and, accordingly, there is no associated amortization expense or accumulated amortization. At December 31, 2011 and 2010, the FTD
trademarks and trade names after impairment and foreign currency translation adjustments totaled $156.5 million and $156.7 million,
respectively.
Amortization expense related to intangible assets for the years ended December 31, 2011, 2010 and 2009 was $31.5 million, $32.2 million
and $34.8 million, respectively.
Estimated future intangible asset amortization expense at December 31, 2011 was as follows (in thousands):
5. LONG-TERM DEBT
UOL Credit Agreement
In connection with the acquisition by the Company of FTD Group, Inc. in August 2008, United Online, Inc. entered into a $60 million
senior secured credit agreement with Silicon Valley Bank (the
F-25
December 31, 2011
Gross
Value
Accumulated
Amortization
Net
Pay accounts and free accounts
$
100,854
$
(93,613
)
$
7,241
Customer contracts and relationships
111,831
(67,199
)
44,632
Trademarks and trade names
182,270
(20,230
)
162,040
Software and technology
46,483
(32,768
)
13,715
Rights, content and intellectual property
10,999
(4,166
)
6,833
Total
$
452,437
$
(217,976
)
$
234,461
December 31, 2010
Gross
Value Accumulated
Amortization Net
Pay accounts and free accounts
$
100,873
$
(91,278
)
$
9,595
Customer contracts and relationships
111,913
(50,273
)
61,640
Trademarks and trade names
182,463
(17,603
)
164,860
Software and technology
46,513
(24,527
)
21,986
Rights, content and intellectual property
7,735
(3,041
)
4,694
Total
$
449,497
$
(186,722
)
$
262,775
Year Ending December 31,
Total 2012 2013 2014 2015 2016 Thereafter
Estimated
amortization of
intangible assets
$
77,978
$
30,703
$
27,824
$
15,687
$
1,587
$
1,150
$
1,027