TripAdvisor 2015 Annual Report Download - page 79
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Total
Goodwill $ 17
Intangibleassets(1) 12
Nettangibleassets 1
Deferredtaxliabilities,net (2)
Totalpurchasepriceconsideration(2) $ 28
(1) Identifiabledefinite-livedintangibleassetsacquiredduring2015werecomprisedoftradenamesof$2millionwithaweightedaveragelifeof
approximately10years,customerlistsandsupplierrelationshipsof$7millionwithaweightedaveragelifeofapproximately6yearsandtechnologyand
otherof$3millionwithaweightedaveragelifeofapproximately2years.Theoverallweighted-averagelifeoftheidentifiabledefinite-livedintangible
assetsacquiredinthepurchaseofthesebusinessesduring2015was6years,andwillbeamortizedonastraight-linebasisovertheirestimateduseful
livesfromacquisitiondate.
(2) Subjecttoadjustmentbasedonindemnificationobligationsforgeneralrepresentationsandwarrantiesoftheacquiredcompanystockholders.
2015 Sale of Business
InAugust2015,wesold100%interestinoneofourChinesesubsidiariestoanunrelatedthirdpartyfor$28millionincashconsideration.Accordingly,we
deconsolidated$11millionofassets(whichincluded$3millionofcashsold)and$4millionofliabilitiesfromourconsolidatedbalancesheetandrecognizeda$20
milliongainonsaleofsubsidiaryinourconsolidatedstatementsofoperationsin“Interestincomeandother,net”duringtheyearendedDecember31,2015.
2014 Acquisition of Businesses
InAugust2014,wecompletedouracquisitionofViator,Inc.Viator,whichisheadquarteredinSanFranciscoandhasofficesinLasVegas,London,and
Sydney,isaleadingresourceforresearchingandbookingdestinationactivitiesaroundtheworld.Ourtotalpurchasepricewas$192million,foralltheoutstanding
sharesofcapitalstockofViator,consistingofapproximately$187millionincashconsideration(or$132million,netofcashacquiredfromViatorof$55million)
andthevalueofcertainViatorstockoptionsthatwereassumed.Weissued100,595TripAdvisorstockoptionsrelatedtotheassumedViatorstockoptions.Thefair
valueoftheearnedportionofassumedstockoptionswas$5millionandisincludedinthepurchaseprice,withtheremainingfairvalueof$3millionresultingin
post-acquisitioncompensationexpensethatwillgenerallyberecognizedratablyoverthreeyearsfromthedateofacquisition.Thetotalcashconsiderationwas
paidfromoneofourU.S.basedsubsidiaries.
DuringtheyearendedDecember31,2014,wecompletedsixotheracquisitionsforatotalpurchasepriceconsiderationof$208million,forwhichthe
Companypaidtotalcashconsiderationof$199million,whichisnetofcashacquiredof$7millionandapproximately$2millioninholdbacksforgeneral
representationsandwarrantiesoftherespectivesellers,ofwhich$1millionwaspaidin2015.Thecashconsiderationwaspaidprimarilyfromourinternational
subsidiaries.Weacquired100%oftheoutstandingsharesofcapitalstockforthefollowingcompanies;VacationHomeRentals,aU.S.-basedvacationrental
websitefeaturingpropertiesaroundtheworldpurchasedinMay2014;London-basedTripbod,atravelcommunitythathelpsconnecttravelerstolocalexperts
purchasedinMay2014;Lafourchette,aproviderofanonlineandmobilereservationsplatformforrestaurantsinEuropepurchasedinMay2014;MyTableand
Restopolis,bothprovidersofanonlineandmobilereservationsplatformforrestaurantsinItalypurchasedinOctober2014;andIens,aproviderofanonlineand
mobilereservationsplatformforrestaurantsintheNetherlandspurchasedinDecember2014.During2014,all2014acquisitionsaccountedforapproximately3%
ofconsolidatedrevenuefortheyear.Pro-formaresultsofoperationsfortheseacquisitionshavenotbeenpresentedasthefinancialimpacttoourconsolidated
financialstatements,bothindividuallyandinaggregate,wouldnothavebeenmateriallydifferentfromhistoricalresults.
Thefollowingtablepresentsthepurchasepriceallocationsrecordedonourconsolidatedbalancesheetforall2014acquisitions(inmillions):
Total
Goodwill(1) $ 253
Intangibleassets(2) 194
Nettangibleassets(liabilities)(3) (7)
Deferredtaxliabilities,net (40)
Totalpurchasepriceconsideration(4) $ 400
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