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The following table summarizes the allocation of the purchase consideration as follows (in thousands):
Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired and represents intangible assets that
do not qualify for separate recognition. Goodwill recognized associated with these acquisitions during the year ended December 31, 2013 is $54.5 million , of which
$36.6 million
is expected to be deductible for income tax purposes.
Pro Forma Financial Information for 2013 Acquisitions
The following unaudited pro forma supplemental information is based on estimates and assumptions, which j2 Global believes are reasonable. However, this
information is not necessarily indicative of the Company's consolidated financial position or results of income in future periods or the results that actually would have been realized
had j2 Global and the acquired businesses been combined companies during the period presented. These pro forma results exclude any savings or synergies that would have
resulted from these business acquisitions had they occurred on January 1 for the year ended December 31, 2012 and do not take into consideration the exiting of any acquired lines
of business. This unaudited pro forma supplemental information includes incremental intangible asset amortization and other charges as a result of the acquisitions, net of the
related tax effects.
The supplemental information on an unaudited pro forma financial basis presents the combined results of j2 Global and its 2013 acquisitions as if each acquisition had
occurred on January 1, 2012 (in thousands, except per share amounts):
- 65 -
Assets and Liabilities Valuation
Accounts receivable $
24,658
Property and equipment
3,274
Other assets
2,703
Deferred tax asset
2,058
Software
3,031
Content
2,460
Trade name
18,581
Customer relationship
40,275
Advertiser Relationship
11,770
Other intangibles
168
Goodwill
54,472
Deferred revenue
(2,543
)
Other accrued liabilities
(13,162
)
Total $
147,745
Year ended
December 31,
2013 December 31,
2012
(unaudited) (unaudited)
Revenues
$
545,952
$
470,190
Net income attributable to j2 Global, Inc. common shareholders
$
108,600
$
122,187
EPS - Basic
$
2.34
$
2.64
EPS - Diluted
$
2.31
$
2.62