Enom 2015 Annual Report Download - page 84

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F-20
Based upon the current amount of intangible assets subject to amortization, the estimated amortization expense for
the next five years as of December 31, 2015 is as follows (in thousands):
Estimated
Amortization
Year ending December 31,
2016 .............................................................................
$
9,225
2017 .............................................................................
$
5,827
2018 .............................................................................
$
2,967
2019 .............................................................................
$
1,006
2020 .............................................................................
$
575
Thereafter ...........................................................................
$
1,732
5. Goodwill
The following table presents the changes in our goodwill balance (in thousands):
Balance at December 31, 2013 ............................................................
$
347,382
Acquisitions ........................................................................
10,358
Dispositions ........................................................................
(12,070)
Spin-off ............................................................................
(103,042)
Goodwill impairment charge ...........................................................
(232,270)
Balance at December 31, 2014 ............................................................
10,358
Balance at December 31, 2015 ............................................................
$
10,358
The change in goodwill in 2014 is attributable to the acquisition of Saatchi Online and the disposition of our
Creativebug and CoveritLive businesses. In August 2014, we completed the Separation of Rightside and the
Distribution, and we no longer record goodwill related to Rightside on our balance sheet.
For the year ended December 31, 2014, due to unexpected revenue declines attributable to lower traffic and
monetization yield on certain of our content and media websites, we lowered our future cash flow expectations. As a
result of the decline in our cash flow forecast as well as a sustained decline in our market capitalization which remained
at a level below the book value of our net assets for an extended period of time, we performed an interim assessment of
impairment of the goodwill in our content and media reporting unit in the third quarter of 2014. Based on our analyses,
we determined that the implied fair value of goodwill was substantially lower than the carrying value of goodwill for the
content and media reporting unit and as a result, we determined that the implied fair value of the goodwill in the content
and media reporting unit was zero. Accordingly, we recorded $232.3 million for the goodwill impairment charge in
2014.
We performed our annual impairment analysis in the fourth quarter of 2015, and determined that no impairment of
goodwill existed at December 31, 2015.
6. Other Balance Sheet Items
Other long term assets consisted of the following (in thousands):
December 31,
December 31,
2015
2014
Long-term portion of promissory note ..........................................
$
—
$
4,505
Other .....................................................................
1,173
1,550
Other assets .............................................................
$
1,173
$
6,055