Rosetta Stone 2015 Annual Report Download - page 83
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Table of Contents
Language reporting unit. As a result, the Company recorded a goodwill impairment loss of $18.0 million, which represented a full impairment of the North
America Consumer Language goodwill.
Intangible assets consisted of the following items as of the dates indicated (in thousands):
Trade name/ trademark
$ 12,442
$ (1,271)
$ 11,171
$ 12,526
$ (1,062)
$ 11,464
Core technology
15,149
(7,817)
7,332
15,890
(5,661)
10,229
Customer relationships
26,245
(16,603)
9,642
26,889
(14,344)
12,545
Website
12
(12)
—
12
(12)
—
Patents
300
(201)
99
300
(161)
139
Total
$ 54,148
$ (25,904)
$ 28,244
$ 55,617
$ (21,240)
$ 34,377
The Company recorded intangible assets of $23.8 million, associated with the acquisition of Rosetta Stone Ltd. in January 2006, including its
indefinite-lived Rosetta Stone trade name.
The Company recorded intangible assets of $5.5 million with the acquisition of Livemocha in April 2013, consisting of an online community,
enterprise relationships, technology platform and the Livemocha trade name. The estimated useful lives of these intangible assets range from two to five
years.
The Company recorded intangible assets of $14.5 million with the acquisition of Lexia in August 2013, consisting of enterprise relationships,
technology platform and the Lexia trade name. The estimated useful lives of these intangible assets range from five to ten years.
The Company recorded intangible assets of $3.6 million with the acquisition of Vivity in January 2014, consisting of customer relationships,
technology platform and the Vivity trade name. The estimated useful lives of these intangible assets range from three to five years.
The Company recorded intangible assets of $9.1 million with the acquisition of Tell Me More in January 2014, consisting of customer relationships,
technology platform and the Tell Me More trade name. The estimated useful lives of these intangible assets range from one to five years.
Included within the Trade name/ trademark intangible asset category is the Rosetta Stone trade name with a carrying amount of $10.6 million. This
intangible asset is considered to have an indefinite useful life and is therefore not amortized, but rather tested for impairment on at least an annual basis.
The Company computes amortization of intangible assets on a straight-line basis over the estimated useful life. Below are the weighted average
remaining useful lives of the Company's amortizing intangible assets:
Trade name / trademark
29 months
Core technology
36 months
Customer relationships
76 months
Patents
33 months
F-27