Callaway 2010 Annual Report Download - page 97
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In connection with this purchase, the Company could be required to pay an additional purchase price not to
exceed $10,000,000 based on a percentage of earnings generated from the sale of uPlay products over a period of
three years ending on December 31, 2011. As of December 31, 2010, based on the Company’s preliminary
assessment of certain performance indicators in connection with the sale of uPlay products, the probability of the
Company fulfilling this additional purchase price obligation at the end of the three year period ending
December 31, 2011, is remote. However, in the event that a portion of this obligation is met, any such additional
purchase price paid at the end of the three year period will be recorded as goodwill. The allocation of the
aggregate acquisition costs is as follows (in thousands):
Assets Acquired:
Cash .......................................................................... $ 198
Accounts receivable .............................................................. 720
Inventory ...................................................................... 337
Property, plant and equipment ...................................................... 225
Database and technology .......................................................... 7,900
Trademarks and trade names ....................................................... 540
Non-compete agreements .......................................................... 760
Other .......................................................................... 68
Goodwill (Note 9) ............................................................... 629
Liabilities:
Current liabilities ................................................................ (1,293)
Total net assets acquired ...................................................... $10,084
The pro-forma effects of the uPlay, LLC asset acquisition would not have been material to the Company’s results
of operations for fiscal 2008 and, therefore, are not presented.
F-19