Vistaprint 2013 Annual Report Download - page 73

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70
8. Goodwill and Acquired Intangible Assets
Goodwill
The carrying amount of goodwill by segment as of June 30, 2012 and June 30, 2013 is as follows:
North
America Europe Most of
World Total
Balance as of June 30, 2011. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,292 $ 1,668 $ 208 $ 4,168
Acquisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94,177 47,391 — 141,568
Effect of currency translation adjustments (1). . . . . . . . . . . . . . . . — (5,307) — (5,307)
Balance as of June 30, 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96,469 43,752 208 140,429
Effect of currency translation adjustments (1). . . . . . . . . . . . . . . . — 1,143 — 1,143
Adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (679) — — (679)
Balance as of June 30, 2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 95,790 $ 44,895 $ 208 $ 140,893
_________________
(1) Relates to goodwill attributable to the Albumprinter acquisition as amounts are denominated in Euro.
Acquired Intangible Assets
June 30, 2013 June 30, 2012
Gross
Carrying
Amount Accumulated
Amortization
Net
Carrying
Amount
Gross
Carrying
Amount Accumulated
Amortization
Net
Carrying
Amount
Trade Name . . . . . . . . . . . . . . . . . . . . . $9,407 $ (2,393) $ 7,014 $ 9,166 $ (921) $ 8,245
Developed Technology . . . . . . . . . . . . . 14,103 (8,267) 5,836 13,880 (4,232) 9,648
Customer Relationships . . . . . . . . . . . . 20,816 (6,938) 13,878 20,265 (2,153) 18,112
Customer Network . . . . . . . . . . . . . . . . 4,600 (991) 3,609 4,600 (334) 4,266
Total Intangible Assets . . . . . . . . . . . . . $ 48,926 $ (18,589) $ 30,337 $ 47,911 $ (7,640) $ 40,271
Acquired intangible assets amortization expense for the years ended June 30, 2013, 2012 and 2011 was
$10,778, $6,172, and $446, respectively. Estimated intangible assets amortization expense for each of the five
succeeding fiscal years is as follows:
2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 8,801
2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,640
2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,474
2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,682
2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,682
$ 27,279