XML 23 R12.htm IDEA: XBRL DOCUMENT v3.10.0.1
Intangible assets, net
6 Months Ended
Jun. 30, 2018
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible assets, net

4. Intangible assets, net

Intangible assets other than goodwill consist of the following:

 

(In thousands)

 

Amortization period

 

June 30, 2018

 

 

December 31, 2017

 

Gross amount:

 

 

 

 

 

 

 

 

 

 

Software developed for internal use

 

3 years

 

$

3,737

 

 

$

2,972

 

Acquired proprietary technology

 

5 years

 

 

11,416

 

 

 

11,382

 

Customer relationships

 

7-10 years

 

 

34,986

 

 

 

34,986

 

Trade names

 

20 years

 

 

16,357

 

 

 

16,357

 

Domain names

 

20 years

 

 

191

 

 

 

191

 

Databases

 

5-10 years

 

 

31,292

 

 

 

31,292

 

Non-competition agreements

 

2-5 years

 

 

1,768

 

 

 

1,768

 

Total gross amount

 

 

 

 

99,747

 

 

 

98,948

 

Accumulated amortization:

 

 

 

 

 

 

 

 

 

 

Software developed for internal use

 

 

 

 

(826

)

 

 

(490

)

Acquired proprietary technology

 

 

 

 

(5,837

)

 

 

(4,693

)

Customer relationships

 

 

 

 

(12,023

)

 

 

(9,628

)

Trade names

 

 

 

 

(2,095

)

 

 

(1,686

)

Domain names

 

 

 

 

(24

)

 

 

(20

)

Databases

 

 

 

 

(8,768

)

 

 

(6,964

)

Non-competition agreements

 

 

 

 

(1,446

)

 

 

(1,113

)

Total accumulated amortization

 

 

 

 

(31,019

)

 

 

(24,594

)

Net intangible assets:

 

 

 

 

 

 

 

 

 

 

Software developed for internal use

 

 

 

 

2,911

 

 

 

2,482

 

Acquired proprietary technology

 

 

 

 

5,579

 

 

 

6,689

 

Customer relationships

 

 

 

 

22,963

 

 

 

25,358

 

Trade names

 

 

 

 

14,262

 

 

 

14,671

 

Domain names

 

 

 

 

167

 

 

 

171

 

Databases

 

 

 

 

22,524

 

 

 

24,328

 

Non-competition agreements

 

 

 

 

322

 

 

 

655

 

Total net intangible assets

 

 

 

$

68,728

 

 

$

74,354

 

 

The gross amount associated with software developed for internal use primarily represents capitalized costs of internally developed software. The amounts relating to acquired proprietary technology, customer relationships, trade names, domain names, databases and non-competition agreements primarily represent the fair values of intangible assets acquired as a result of the acquisition of Fluent, LLC (“Fluent LLC”) effective on December 8, 2015 (the “Fluent LLC Acquisition”) and the acquisition of Q Interactive, LLC (“Q Interactive”) effective on June 8, 2016 (the “Q Interactive Acquisition”).

 

On January 18, 2017, the Company’s management and Board of Directors approved a plan to merge and fully integrate Q Interactive’s business into Fluent LLC (the “Q Interactive Integration”). As a result, the remaining balance of long-lived assets of $3,626, relating primarily to the acquired proprietary technology and trade names acquired in the Q Interactive Acquisition, was written off to costs and expenses as a write-off of long-lived assets during the first quarter of 2017.  

 

Amortization expense of $3,213 and $3,147 for the three months ended and $6,421 and $6,258 for the six months ended June 30, 2018 and 2017, respectively, were included in depreciation and amortization expenses. As of June 30, 2018, intangible assets with the carrying amount of $1,655, included in the gross amount of software developed for internal use, have not started amortization, as they are not ready for their intended use.

 

As of June 30, 2018, estimated amortization expenses related to the Company’s intangible assets for the remainder of 2018 through 2023 and thereafter are as follows:

 

(In thousands)

 

 

 

 

Year

 

June 30, 2018

 

Remainder of 2018

 

$

6,450

 

2019

 

 

12,901

 

2020

 

 

12,246

 

2021

 

 

9,199

 

2022

 

 

7,877

 

2023 and thereafter

 

 

20,055

 

Total

 

$

68,728