Juno 2012 Annual Report Download - page 154
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Table of Contents
The changes in the fair value of the schoolFeed contingent consideration since the acquisition date were as follows (in thousands):
For additional information related to contingent consideration, see Note 2—"Acquisitions".
The Company estimated the fair value of its long-term debt using a discounted cash flow technique that incorporates a market interest yield curve
with adjustments for duration and risk profile. In determining the market interest yield curve, the Company considered, among other factors, its estimate
of its credit rating. The Company estimated its credit rating as BB+/BB for the long-term debt associated with the Credit Agreement, resulting in a
discount rate of 3.8%. The table below summarizes the fair value estimates for long-term debt (in thousands):
United Online, Inc. has 5.0 million shares of preferred stock authorized with a par value of $0.0001. At December 31, 2012 and 2011, United
Online, Inc. had no preferred shares issued or outstanding.
Dividends are paid on shares of common stock outstanding as of the record date. In addition, dividend equivalents are generally paid on nonvested
restricted stock units outstanding as of the record date.
In February, April, July, and October 2010, United Online, Inc.'s Board of Directors declared quarterly cash dividends of $0.10 per share of
common stock. The dividends were paid on February 26, 2010, May 28, 2010, August 31, 2010, and November 30, 2010 and totaled $9.1 million,
$9.4 million, $9.3 million, and $9.2 million, respectively, including dividend equivalents paid on nonvested restricted stock units.
In January, April, July, and October 2011, United Online, Inc.'s Board of Directors declared quarterly cash dividends of $0.10 per share of
common stock. The dividends were paid on February 28, 2011, May 31, 2011, August 31, 2011, and November 30, 2011 and totaled $9.4 million,
$9.3 million, $9.3 million, and $9.3 million, respectively, including dividend equivalents paid on nonvested restricted stock units.
F-37
Fair value at June 8, 2012 $ 9,397
Changes in fair value (1,802)
Interest expense 966
Fair value at December 31, 2012 $ 8,561
Long-term debt, net of discounts, including current portion $ 244,000 $ 261,090