Orbitz 2009 Annual Report Download - page 82

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of the $4.1 billion purchase price based on the relative fair value of the businesses included in the acquisition.
The table below summarizes the final allocation of the purchase price to our businesses:
Amount
(in millions)
Cash............................................................... $ 26
Current assets ........................................................ 101
Property and equipment ................................................ 161
Other non-current assets ................................................ 90
Intangible assets (a) ................................................... 405
Goodwill ........................................................... 1,186
Total assets ........................................................ 1,969
Total current liabilities ................................................. 402
Total non-current liabilities . . . ........................................... 270
Total liabilities ..................................................... 672
Fair value of net assets acquired....................................... $1,297
(a) This amount represents $310 million of indefinite-lived trademarks, $91 million of customer relation-
ships with an estimated weighted-average life of six years and $4 million of other intangible assets
with an estimated weighted-average life of seven years.
The total amount of goodwill that was assigned to us was $1.2 billion. Tax amortizable goodwill exists
from a prior transaction, and any carryover tax basis associated with the goodwill amount is expected to be tax
deductible. No additional tax amortizable goodwill arose from the Blackstone Acquisition.
Pro Forma Financial Information (Unaudited)
The following unaudited pro forma financial information for our portion of the Blackstone Acquisition
reflects our results of operations as if the acquisition had been consummated as of the beginning of the period
presented. This pro forma financial information is based on historical information and does not necessarily
reflect the actual results of operations that would have occurred, nor is it indicative of future results.
Historical
as Reported Adjustments(a)
Pro
Forma
Period from January 1, 2006 to
August 22, 2006
Predecessor
(in millions)
Net revenue ...................................... $510 $(20) $490
Net (loss) income from continuing operations ............. $(121) $108 $ (13)
(a) This amount includes adjustments to amortization and depreciation expense based on the fair value
and estimated useful lives assigned to tangible and intangible assets at the time of the Blackstone
Acquisition. This amount also includes adjustments recorded to deferred revenue as well as the amor-
tization of certain below market contracts with suppliers recorded as a result of the acquisition, which
reduced net revenue and net income. The impairment of intangible assets recorded in the period is
also excluded in the calculation of pro forma net (loss) income from operations, as goodwill and
intangible assets would have been stated at fair value at the beginning of the period presented had
purchase accounting been applied, and therefore impairment would not have existed.
82
ORBITZ WORLDWIDE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)