Shutterfly 2014 Annual Report Download - page 89
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The following table presents goodwill balances and adjustments to those balances for each of our
reportable segments (in thousands):
Consumer Enterprise Consolidated Total
Balance, December 31, 2012 ............... $ — $ — $ 358,349 $ 358,349
Acquisition of business ................. — — 38,957 38,957
Goodwill adjustments ..................————
Balance, December 31, 2013 ............... — — 397,306 397,306
Acquisition of business ................. — — 12,033 12,033
Goodwill adjustments .................. — — (364) (364)
Goodwill allocation .................... 372,072 36,903 (408,975) —
Balance, December 31, 2014 ............... $ 372,072 $ 36,903 $ — $ 408,975
For the year ended December 31, 2014, adjustments to goodwill reflected final adjustments to net
working capital acquired under provisions of certain business combination purchase agreements.
Accrued Liabilities
December 31,
2014 2013
(in thousands)
Accrued production costs ..................................... $ 32,814 $ 34,525
Accrued marketing expenses ................................... 30,835 26,203
Accrued income and sales tax .................................. 18,149 16,465
Accrued compensation ....................................... 16,337 14,872
Accrued purchases .......................................... 11,809 3,723
Capital lease obligations ...................................... 8,905 1,530
Accrued consulting .......................................... 6,418 4,548
Accrued other ............................................. 10,218 5,582
$ 135,485 $ 107,448
Other Liabilities
December 31,
2014 2013
(in thousands)
Financing obligations ........................................ $ 38,529 $ 16,354
Capital lease obligations ...................................... 32,297 4,530
Other liabilities ............................................ 3,352 5,457
$ 74,178 $ 26,341
Financing obligations relate to the Company’s build-to-suit leases as further discussed in Note 7 —
Commitments and Contingencies.
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