Chegg 2015 Annual Report Download - page 116
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Table of Contents
77
The following table summarizes the fair value of the net identifiable assets acquired in the year ended December 31,
2014 (in thousands):
2014
Cash $ 1,665
Other acquired assets 595
Acquired intangible assets:
Developed technology 4,174
Customer lists 3,770
Trade names 5,990
Non-compete agreements 1,630
Corporate partnerships 243
Master services agreements 1,030
Total acquired intangible assets 16,837
Total identifiable assets acquired 19,097
Liabilities assumed (2,538)
Net identifiable assets acquired 16,559
Goodwill 41,756
Net assets acquired $ 58,315
For the year ended December 31, 2014, we incurred $0.7 million of acquisition-related expenses associated with the four
acquisitions which have been included in general and administrative expenses in the consolidated statements of operations.
The results of operations of the above acquisitions have been included in our consolidated results of operations from the
date of acquisition and were not material to our results of operations.
The amounts recorded for goodwill related to the Bookstep, Campus Special and internships.com transactions are
expected to be deductible for tax purposes. The amount recorded for goodwill related to the InstaEDU transaction is not
deductible for tax purposes.
Note 7. Goodwill and Intangible Assets
Goodwill consists of the following (in thousands):
December 31, 2015 December 31, 2014
Beginning balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 91,301 $ 49,545
Additions due to acquisition. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 41,756
Ending balance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 91,301 $ 91,301