Shutterfly 2015 Annual Report Download - page 88
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Note 3 — Balance Sheet Components
Intellectual Property Prepaid Royalties
Total amortization for these license agreements in 2015 and 2014 were $1.3 million and $1.6 million,
respectively. As of December 31, 2015, the Company had a balance of $7.3 million in unamortized prepaid
royalties. Amortization of these licenses is estimated as follows (in thousands):
Year Ending:
2016 ............................................................................... $1,182
2017 ............................................................................... 799
2018 ............................................................................... 799
2019 ............................................................................... 675
2020 ............................................................................... 503
Thereafter ........................................................................... 3,359
$7,317
Prepaid Expenses and Other Current Assets
December 31,
2015 2014
(in thousands)
Prepaid service contracts — current portion ................................ $ 12,539 $ 6,754
Deferred costs ........................................................ 3,849 6,911
Prepaid postage ....................................................... 3,047 1,492
Rebates ............................................................. 3,004 3,164
Prepaid marketing ..................................................... 1,197 446
Other prepaid expenses and current assets .................................. 9,511 6,216
$ 33,147 $ 24,983
Other Assets
December 31,
2015 2014
(in thousands)
Other assets .......................................................... $ 11,176 $ 13,976
Other assets includes the long-term portion of intellectual property prepaid royalties, the long-term portion
of issuance costs related to the Company’s 0.25% Convertible Notes, the long-term portion of prepaid service
contracts, and deposits on long-term leases and other contracts.
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