Juno 2014 Annual Report Download - page 112
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Table of Contents
measured at fair value on a non-recurring basis and, at December 31, 2013, the estimated fair value was as follows (in thousands):
The Company estimated the fair value of the Classmates reporting unit using the income approach, as a meaningful base of market data was not available
to use the market approach. The inputs for the fair value calculations of the reporting unit included a 4% growth rate to calculate the terminal value and a
discount rate of 12%. In addition, the Company assumed revenue growth and applied margin and other cost assumptions consistent with the reporting unit's
historical trends.
United Online, Inc. has 5.0 million shares of preferred stock authorized with a par value of $0.0001. At December 31, 2014 and 2013, United Online, Inc.
had no preferred shares issued or outstanding.
On October 31, 2013, United Online, Inc. effected a one-for-seven reverse stock split of shares of United Online, Inc. common stock. United Online, Inc.
common stock share information and related per share amounts prior to October 31, 2013 have been adjusted to reflect the one-for-seven reverse stock split of
shares of United Online, Inc.
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 January, April, July, and October 2012, United Online, Inc.'s Board of Directors declared quarterly cash dividends of $0.70 per share of common stock,
as adjusted to reflect the one-for-seven reverse stock split. The dividends were paid on February 29, 2012, May 31, 2012, August 31, 2012, and November 30,
2012 and totaled $9.3 million, $9.4 million, $9.4 million, and $9.4 million, respectively, including dividend equivalents paid on nonvested restricted stock
units.
In January, April, and July 2013, United Online, Inc.'s Board of Directors declared quarterly cash dividends of $0.70 per share of common stock, as
adjusted to reflect the one-for-seven reverse stock split. The dividends were paid on February 28, 2013, May 31, 2013, and August 30, 2013 and totaled
$9.4 million, $9.7 million, and $9.7 million, respectively, including dividend equivalents paid on nonvested restricted stock units. In November 2013,
United Online, Inc.'s Board of Directors declared a quarterly cash dividend of $0.15 per share of common stock. The dividends were paid on
F-30
Classmates reporting unit goodwill $ 33,032