Goodwill and Intangible Assets (Tables)
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9 Months Ended |
Sep. 30, 2017 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Schedule of changes in the carrying amount of goodwill |
The changes in the carrying amount of goodwill in each of our reporting segments for the nine months ended September 30, 2017, are as follows:
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Pandora |
|
Ticketfly |
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Total |
|
(in thousands) |
Balance as of December 31, 2016 |
$ |
71,650 |
|
|
$ |
235,041 |
|
|
$ |
306,691 |
|
Goodwill impairment |
(300 |
) |
|
(131,697 |
) |
|
(131,997 |
) |
Goodwill related to disposed assets |
(107 |
) |
|
(103,367 |
) |
|
(103,474 |
) |
Effect of currency translation adjustment
|
— |
|
|
23 |
|
|
23 |
|
Balance as of September 30, 2017 |
$ |
71,243 |
|
|
$ |
— |
|
|
$ |
71,243 |
|
|
| Summary of gross carrying amounts and accumulated amortization of intangible assets - finite lived |
The following summarizes information regarding the gross carrying amounts and accumulated amortization of intangible assets.
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As of December 31, 2016 |
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As of September 30, 2017 |
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|
Gross Carrying Amount |
|
Accumulated Amortization |
|
Net Carrying Value |
|
Gross Carrying Amount |
|
Accumulated Amortization |
|
Disposal of Intangible Assets |
|
Net Carrying Value |
|
|
(in thousands) |
|
(in thousands) |
Finite-lived intangible assets |
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Patents |
|
$ |
8,030 |
|
|
$ |
(2,556 |
) |
|
$ |
5,474 |
|
|
$ |
8,030 |
|
|
$ |
(3,106 |
) |
|
$ |
— |
|
|
$ |
4,924 |
|
Developed technology |
|
56,162 |
|
|
(13,599 |
) |
|
42,563 |
|
|
56,162 |
|
|
(20,958 |
) |
|
(19,235 |
) |
|
15,969 |
|
Customer relationships—clients |
|
37,399 |
|
|
(5,487 |
) |
|
31,912 |
|
|
37,399 |
|
|
(7,449 |
) |
|
(29,950 |
) |
|
— |
|
Customer relationships—users |
|
1,940 |
|
|
(1,288 |
) |
|
652 |
|
|
1,940 |
|
|
(1,732 |
) |
|
(208 |
) |
|
— |
|
Trade names |
|
11,735 |
|
|
(2,104 |
) |
|
9,631 |
|
|
11,735 |
|
|
(2,978 |
) |
|
(8,346 |
) |
|
411 |
|
Total finite-lived intangible assets |
|
$ |
115,266 |
|
|
$ |
(25,034 |
) |
|
$ |
90,232 |
|
|
$ |
115,266 |
|
|
$ |
(36,223 |
) |
|
$ |
(57,739 |
) |
|
$ |
21,304 |
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Indefinite-lived intangible assets |
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FCC license - Broadcast Radio |
|
$ |
193 |
|
|
$ |
— |
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|
$ |
193 |
|
|
$ |
193 |
|
|
$ |
— |
|
|
$ |
(193 |
) |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total intangible assets |
|
$ |
115,459 |
|
|
$ |
(25,034 |
) |
|
$ |
90,425 |
|
|
$ |
115,459 |
|
|
$ |
(36,223 |
) |
|
$ |
(57,932 |
) |
|
$ |
21,304 |
|
Note: Amounts may not recalculate due to rounding |
|
| Summary of gross carrying amounts of intangible assets - indefinite lived |
The following summarizes information regarding the gross carrying amounts and accumulated amortization of intangible assets.
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As of December 31, 2016 |
|
As of September 30, 2017 |
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|
Gross Carrying Amount |
|
Accumulated Amortization |
|
Net Carrying Value |
|
Gross Carrying Amount |
|
Accumulated Amortization |
|
Disposal of Intangible Assets |
|
Net Carrying Value |
|
|
(in thousands) |
|
(in thousands) |
Finite-lived intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Patents |
|
$ |
8,030 |
|
|
$ |
(2,556 |
) |
|
$ |
5,474 |
|
|
$ |
8,030 |
|
|
$ |
(3,106 |
) |
|
$ |
— |
|
|
$ |
4,924 |
|
Developed technology |
|
56,162 |
|
|
(13,599 |
) |
|
42,563 |
|
|
56,162 |
|
|
(20,958 |
) |
|
(19,235 |
) |
|
15,969 |
|
Customer relationships—clients |
|
37,399 |
|
|
(5,487 |
) |
|
31,912 |
|
|
37,399 |
|
|
(7,449 |
) |
|
(29,950 |
) |
|
— |
|
Customer relationships—users |
|
1,940 |
|
|
(1,288 |
) |
|
652 |
|
|
1,940 |
|
|
(1,732 |
) |
|
(208 |
) |
|
— |
|
Trade names |
|
11,735 |
|
|
(2,104 |
) |
|
9,631 |
|
|
11,735 |
|
|
(2,978 |
) |
|
(8,346 |
) |
|
411 |
|
Total finite-lived intangible assets |
|
$ |
115,266 |
|
|
$ |
(25,034 |
) |
|
$ |
90,232 |
|
|
$ |
115,266 |
|
|
$ |
(36,223 |
) |
|
$ |
(57,739 |
) |
|
$ |
21,304 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Indefinite-lived intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FCC license - Broadcast Radio |
|
$ |
193 |
|
|
$ |
— |
|
|
$ |
193 |
|
|
$ |
193 |
|
|
$ |
— |
|
|
$ |
(193 |
) |
|
$ |
— |
|
|
|
|
|
|
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Total intangible assets |
|
$ |
115,459 |
|
|
$ |
(25,034 |
) |
|
$ |
90,425 |
|
|
$ |
115,459 |
|
|
$ |
(36,223 |
) |
|
$ |
(57,932 |
) |
|
$ |
21,304 |
|
Note: Amounts may not recalculate due to rounding |
|
| Schedule of future amortization expense related to finite-lived intangible assets |
The following is a schedule of future amortization expense related to finite-lived intangible assets as of September 30, 2017.
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|
As of
September 30,
2017 |
|
(in thousands) |
Remainder of 2017 |
$ |
1,896 |
|
2018 |
6,066 |
|
2019 |
5,546 |
|
2020 |
5,251 |
|
2021 |
727 |
|
Thereafter |
1,818 |
|
Total future amortization expense |
$ |
21,304 |
|
|