Priceline 2011 Annual Report Download - page 101

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100
as follows (in thousands):
2012
$32,539
2013
$34,457
2014
$26,318
2015
$25,042
2016
$21,841
After
2016
$81,406
Total
$221,603
Contingent Purchase Price
On November 6, 2007, the Company and a newly-formed, indirect wholly-owned subsidiary of the Company,
acquired 100% of the total share capital of priceline.com Mauritius Company Limited (formerly known as the Agoda
Company, Ltd.) ("Agoda") and AGIP LLC. The purchase price for the acquisition, including acquisition costs, consisted of an
initial purchase price paid by the Company in cash of approximately $16 million. In addition, contingent consideration was
payable by the Company if Agoda achieved specified "gross bookings" and earnings targets from January 1, 2008 through
December 31, 2010. Based upon actual results for the three year period ended December 31, 2010, the Company recorded a
liability and increased goodwill by $60.1 million in 2010, which did not impact the Consolidated Statement of Cash Flows for
2010. This amount is reflected as an investing cash outflow in 2011.
On December 21, 2007, the Company acquired 100% of the total issued share capital of an online advertising
company for approximately $4.1 million in cash, including acquisition costs. The Company could have been required to pay an
additional amount of up to $3.8 million in cash each year from 2008 through 2010, if the acquired company achieved certain
performance targets. Based upon 2010, 2009 and 2008 results, the Company recorded a liability and increased goodwill by
$1.5 million, $2.5 million and $1.5 million in December 2010, December 2009, and December 2008, respectively, to reflect
this purchase price adjustment.
17. BENEFIT PLAN
Priceline.com has a defined contribution 401(k) savings plan (the "Plan") covering certain U.S. employees who are at
least 21 years old. The Plan allows eligible employees to contribute up to 75% of their eligible earnings, subject to a statutorily
prescribed annual limit. All participants are fully vested in their contributions and investment earnings. The Company makes a
50% match of employee contributions up to 6% of qualified compensation. The Company also maintains certain other defined
contribution plans outside of the United States for which it provides 50% of the contributions for participating employees. The
Company’s matching contributions during the years ended December 31, 2011, 2010 and 2009 were approximately $2.8
million, $1.8 million and $1.5 million, respectively.
18. GEOGRAPHIC INFORMATION
The geographic information is based upon the location of Company’s subsidiaries (in thousands).