Shutterfly 2010 Annual Report Download - page 72
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SHUTTERFLY, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Intangible Assets
Intangible assets are composed of the following at December 31:
Purchased technology is amortized over a period ranging from three to sixteen years. Customer relationships are amortized over a period
ranging from one to three years. Licenses and other is amortized over a period ranging from two to five years.
Intangible asset amortization expense for the years ended December 31, 2009, 2008 and 2007 was $1,838,000, $1,827,000 and $412,000,
respectively. Amortization of existing intangible assets is estimated to be as follows (in thousands):
Weighted Average
Useful Life
December 31,
2009
2008
In thousands
Purchased technology
8 Years
$
8,578
$
8,450
Less: accumulated amortization
(3,734
)
(2,318
)
4,844
6,132
Customer relationships
3 Years
1,015
990
Less: accumulated amortization
(777
)
(440
)
238
550
Licenses and other
3 Years
256
256
Less: accumulated amortization
(200
)
(115
)
56
141
Total
$
5,138
$
6,823
Year Ending:
2010
$
1,746
2011
1,457
2012
1,312
2013
128
2014
128
Thereafter
367
$
5,138
69