ServiceMagic 2009 Annual Report Download - page 88

Download and view the complete annual report

Please find page 88 of the 2009 ServiceMagic annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 146

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146

Table of Contents
IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 5—GOODWILL AND INTANGIBLE ASSETS (Continued)
Amortization of intangible assets with definite-lives is computed on a straight-line basis and, based on December 31, 2009 balances, such
amortization for the next five years is estimated to be as follows (in thousands):
NOTE 6—MARKETABLE SECURITIES
At December 31, 2009, available-for-sale marketable securities were as follows (in thousands):
The proceeds from sales and maturities of available-for-sale marketable securities were $293.6 million, which resulted in gross realized
gains of $42.4 million and gross realized losses of $12.4 million for the year ended December 31, 2009. The net realized gains are included in
"Other income (expense)" in the accompanying consolidated statement of operations. These proceeds and realized gains and losses include
amounts related to the sale of certain marketable equity securities, including OpenTable, Inc., that were included in "Long-term investments" in
the accompanying consolidated balance sheet at December 31, 2008. The remaining investment in Open Table, Inc. is now considered short-
term
and included in the table above.
The contractual maturities of debt securities classified as available-for-sale as of December 31, 2009 are as follows (in thousands):
80
Years Ending December 31,
2010
6,329
2011
4,224
2012
2,981
2013
1,832
2014
69
15,435
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
Corporate debt securities
$
194,609
841
(258
)
195,192
States of the U.S. and state political subdivisions
110,650
1,228
(15
)
111,863
U.S. treasuries
174,929
16
(2
)
174,943
Other fixed term obligations
705
—
(
17
)
688
Total debt securities
480,893
2,085
(292
)
482,686
Equity securities
1,336
3,569
—
4,905
Total marketable securities
$
482,229
5,654
(292
)
487,591
Amortized
Cost Estimated
Fair Value
Due in one year or less
345,470
346,353
Due after one year through five years
134,718
135,645
Due after five years through ten years
—
—
Due after ten years
705
688
Total
480,893
482,686