Juno 2014 Annual Report Download - page 57
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Table of Contents
The increase in consolidated general and administrative expenses was primarily due to a $10.8 million increase in unallocated general and
administrative corporate expenses, partially offset by a $2.8 million decrease in general and administrative expenses associated with our Content & Media
segment and a $0.7 million decrease in depreciation expense.
The increase in consolidated amortization of intangible assets was due to the acquisition of schoolFeed in June 2012, as compared to the full year of
amortization of schoolFeed intangible assets for the year ended December 31, 2013.
Contingent consideration—fair value adjustment for the year ended December 31, 2013 was comprised of a $5.7 million decrease in the estimated fair
value of contingent consideration, partially offset by $0.5 million of interest expense related to such contingent consideration. During the quarter ended
March 31, 2013, Facebook restricted certain functionality of the schoolFeed app, which limited schoolFeed's ability to use the Facebook platform to contact
users who are not registered members of schoolFeed. In May 2013, Facebook discontinued the schoolFeed app's access to the Facebook platform, which
resulted in the termination of future new installations of the schoolFeed app through Facebook, as well as the discontinuance of the sharing of Facebook
content through the schoolFeed app.
Consolidated restructuring and other exit costs for the year ended December 31, 2013 included $2.3 million of employee termination costs and
$0.2 million of contract termination costs recorded in our Content & Media segment. Consolidated restructuring and other exit costs for the year ended
December 31, 2012 primarily consisted of employee termination costs.
56
Amortization of intangible assets $ 5,433 $ 4,950 $ 483 10%
Contingent consideration—fair value adjustment $ (5,124) $ (836) $ (4,288) *
*Not meaningful
Restructuring and other exit costs $ 2,501 $ 91 $ 2,410 *
*Not meaningful