Enom 2011 Annual Report Download - page 99

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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
Goodwill arising from acquisitions (Note-13) 31,140
Balance at December 31, 2011 $ 256,060
Goodwill in 2011 arose from four acquisitions completed in that year as detailed in Note 13 - Business Acquisitions. 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 year ended December 31, 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.
The Company's most recent annual impairment analysis was performed in the fourth quarter of the year ended December 31, 2011 and indicated
that the fair value of each of its three reporting units significantly exceeded the carrying amount of the respective reporting unit's book value of goodwill at
that time.
6. Other Balance Sheets Items
Accounts receivable consisted of the following:
December 31,
2010 December 31,
2011
Accounts receivable—trade $ 24,569 $ 29,695
Receivables from registries 2,274 2,970
Accounts receivable, net $ 26,843 $ 32,665
Accrued expenses and other liabilities consisted of the following:
December 31,
2010 December 31,
2011
Accrued payroll and related items $ 9,729 $ 10,562
Domain owners’ royalties payable 1,366 1,336
Commissions payable 2,813 2,894
Customer deposits 5,458 7,898
Other 10,204 11,242
Accrued expenses and other liabilities $ 29,570 $ 33,932
7. Commitments and Contingencies
Leases
The Company conducts its operations utilizing leased office facilities in various locations and leases certain equipment under non-cancellable operating
and capital leases. The Company’s leases expire between January 2012 and April 2016.
The following is a schedule of future minimum lease payments under operating and capital leases as of December 31, 2011:
F-20