GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

The Company assesses goodwill and indefinite-lived intangible assets for impairment annually or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit or the fair value of an indefinite-lived intangible asset below its carrying value. The Company also reviews definite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying value of a definite-lived intangible asset may not be recoverable. The Company performs its annual assessment for impairment of goodwill and indefinite-lived intangible assets as of October 1 in connection with the preparation of its annual financial statements. See Note 2 for further discussion of the Company's impairment assessment process for goodwill and intangible assets.

The balance of goodwill and intangible assets, net is as follows:



	December 31,
	2013		2012
	(In thousands)
Goodwill	$	1,675,323	$	1,616,154
Intangible assets with indefinite lives	376,329		378,964
Intangible assets with definite lives, net	69,007		103,940
Total goodwill and intangible assets, net	$	2,120,659	$	2,099,058

The following table presents the balance of goodwill by reporting unit, including the changes in the carrying value of goodwill, for the year ended December 31, 2013:



	Balance at December 31, 2012		Additions		(Deductions)			Transfers In/(Out)			Foreign Exchange Translation		Balance at December 31, 2013
	(In thousands)
Search & Applications	$	723,650	$	—	$	(160	)	$	14,572		$	—	$	738,062
The Match Group	718,736		62,464		(10,675		)	—			4,878		775,403
Media - Connected Ventures	8,267		—		—			—			—		8,267
eCommerce:
HomeAdvisor	111,658		5,317		—			14,373			524		131,872
CityGrid Media	32,124		—		(3,179		)	(28,945		)	—		—
Shoebuy	21,719		—		—			—			—		21,719
Total eCommerce	165,501		5,317		(3,179		)	(14,572		)	524		153,591
Total	$	1,616,154	$	67,781	$	(14,014	)	$	—		$	5,402	$	1,675,323

Additions primarily relate to the acquisition of Twoo. Deductions primarily relate to the establishment of a deferred tax asset at Tutor arising from pre-acquisition net operating losses. Transfers in/(out) relate to the reorganization of CityGrid Media in the third quarter of 2013.

The following table presents the balance of goodwill by reporting unit, including the changes in the carrying value of goodwill, for the year ended December 31, 2012:



	Balance at December 31, 2011		Additions		(Deductions)			Foreign Exchange Translation			Balance at December 31, 2012
	(In thousands)
Search & Applications	$	526,444	$	197,458	$	(252	)	$	—		$	723,650
The Match Group	674,396		50,728		(555		)	(5,833		)	718,736
Media - Connected Ventures	8,267		—		—			—			8,267
eCommerce:
HomeAdvisor	109,947		1,880		—			(169		)	111,658
CityGrid Media	17,751		14,373		—			—			32,124
Shoebuy	21,719		—		—			—			21,719
Total eCommerce	149,417		16,253		—			(169		)	165,501
Total	$	1,358,524	$	264,439	$	(807	)	$	(6,002	)	$	1,616,154

Additions primarily relate to the acquisition of The About Group.

The December 31, 2013, 2012 and 2011 goodwill balances include accumulated impairment losses of $916.9 million, $28.0 million and $11.6 million at Search & Applications, Shoebuy and Connected Ventures, respectively.

Intangible assets with indefinite lives are trade names and trademarks acquired in various acquisitions. At December 31, 2013, intangible assets with definite lives are as follows:



	Gross Carrying Amount		Accumulated Amortization			Net		Weighted-Average Useful Life (Years)
	(In thousands)
Content	$	47,800	$	(22,373	)	$	25,427	4.0
Technology	41,694		(25,324		)	16,370		2.9
Trade names	29,283		(16,427		)	12,856		3.0
Customer lists	22,584		(13,116		)	9,468		2.5
Advertiser and supplier relationships	10,956		(6,070		)	4,886		2.9
Total	$	152,317	$	(83,310	)	$	69,007	3.2

At December 31, 2012, intangible assets with definite lives are as follows:



	Gross Carrying Amount		Accumulated Amortization			Net		Weighted-Average Useful Life (Years)
	(In thousands)
Content	$	47,800	$	(4,733	)	$	43,067	4.0
Technology	37,545		(11,663		)	25,882		2.9
Trade names	22,742		(7,044		)	15,698		3.6
Advertiser and supplier relationships	16,446		(7,676		)	8,770		4.4
Customer lists	11,800		(1,277		)	10,523		3.7
Total	$	136,333	$	(32,393	)	$	103,940	3.7

At December 31, 2013, amortization of intangible assets with definite lives for each of the next five years and thereafter is estimated to be as follows:



Years Ending December 31,	(In thousands)
2014	$	38,238
2015	19,131
2016	8,141
2017	2,758
2018	498
Thereafter	241
Total	$	69,007

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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