Enom 2010 Annual Report Download - page 121
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Table of Contents
Demand Media, Inc. and Subsidiaries
Notes to Consolidated Financial Statements (Continued)
(In thousands, except per share amounts)
5. Goodwill
The following table presents the changes in the Company's goodwill balance:
Balance at December 31, 2008 $ 225,202
Adjustment related to sale of certain online game businesses (282)
Balance at December 31, 2009 and 2010 $ 224,920
In December 2009, the Company completed the sale of one of the Company's online game businesses for aggregate cash consideration of $1,000. The
combined and historical results of operations of this business were not significant for years ended December 31, 2008 and 2009. The disposed assets included
media content with an initial book value of $1,259 (fully amortized at the time of sale), trade names with an initial book value of $160 ($24 of accumulated
amortization at the time of sale), and allocated goodwill of $282. In conjunction with this sale, the Company recorded a pretax gain on sale of $582, which is
included as an offset against general and administrative expenses in the accompanying statements of operations.
6. Investments in Marketable Securities
Marketable securities consisted of the following:
Cost Unrealized
Gains Unrealized
Losses Estimated
Fair Value
December 31, 2009
Certificates of deposit $ 1,500 $ — $ — $ 1,500
Corporate obligations 800 — — 800
Total marketable securities $ 2,300 $ — $ — $ 2,300
In April 2010 the Company sold all its investments in marketable securities at par value.
Realized gains and losses from sales of marketable securities are included in interest income, net, in the consolidated statements of operations and were
not significant for the years ended December 31, 2008, 2009 and 2010. The Company recognizes realized gains and losses upon sale of marketable securities
using the specific identification method.
7. Other Balance Sheets Items
Accounts receivable, net consisted of the following:
December 31,
2009 December 31,
2010
Accounts receivable—trade $ 16,277 $ 24,569
Receivables from registries 2,364 2,274
Accounts receivable, net $ 18,641 $ 26,843
F-25