Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangible Assets

v3.6.0.2
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets

During the year ended December 31, 2016 we completed a business combination that was not material to our consolidated financial statements. During the year ended December 31, 2016, we made an adjustment to goodwill and deferred tax liabilities as a result of the impact of final pre-acquisition Ticketfly income tax returns filed. The changes in the carrying amount of goodwill for the years ended December 31, 2015 and 2016, are as follows:

 
Goodwill
 
(in thousands)
Balance as of December 31, 2014
$
—

Goodwill resulting from business combinations
303,875

Balance as of December 31, 2015
$
303,875

Goodwill resulting from business combination and purchase price adjustments
2,816

Balance as of December 31, 2016
$
306,691

 

The following summarizes information regarding the gross carrying amounts and accumulated amortization of intangibles:
 
 
As of December 31, 2015
 
As of December 31, 2016
 
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Value
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Value
 
 
(in thousands)
Finite-lived intangible assets
 
 
 
 
 
 
 
 
 
 
 
 
Patents
 
$
8,030

 
$
(1,824
)
 
$
6,206

 
$
8,030

 
$
(2,556
)
 
$
5,474

Developed technology
 
56,050

 
(1,265
)
 
54,785

 
56,162

 
(13,599
)
 
42,563

Customer relationships—clients
 
37,300

 
(777
)
 
36,523

 
37,399

 
(5,487
)
 
31,912

Customer relationships—users
 
1,940

 
(318
)
 
1,622

 
1,940

 
(1,288
)
 
652

Trade names
 
11,720

 
(304
)
 
11,416

 
11,735

 
(2,104
)
 
9,631

Total finite-lived intangible assets
 
$
115,040

 
$
(4,488
)
 
$
110,552

 
$
115,266

 
$
(25,034
)
 
$
90,232

 
 
 
 
 
 
 
 
 
 
 
 
 
Indefinite-lived intangible assets
 
 
 
 
 
 
 
 
 
 
 
 
FCC license—broadcast radio
 
$
193

 
$
—

 
$
193

 
$
193

 
$
—

 
$
193

 
 
 
 
 
 
 
 
 
 
 
 
 
Total intangible assets
 
$
115,233

 
$
(4,488
)
 
$
110,745

 
$
115,459

 
$
(25,034
)
 
$
90,425



Amortization expense of intangible assets was $0.7 million, $3.4 million and $20.5 million for the years ended December 31, 2014, 2015 and 2016, respectively.

The following is a schedule of future amortization expense related to finite-lived intangible assets as of December 31, 2016.

 
As of 
 December 31, 
 2016
 
(in thousands)
2017
$
20,116

2018
17,654

2019
17,129

2020
15,896

2021
6,690

Thereafter
12,747

Total future amortization expense
$
90,232