eBay 2013 Annual Report Download - page 112

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Other
Other acquisition activity during 2013 consisted of six acquisitions, four of which are included in our Marketplaces segment and two in
our Payments segment, for aggregate purchase consideration of approximately $164 million , consisting primarily of cash. The allocation of the
purchase consideration resulted in net liabilities of approximately $16 million , purchased intangible assets of approximately $56 million and
goodwill of approximately $124 million . The allocations of the purchase price for these acquisitions have been prepared on a preliminary basis
and changes to those allocations may occur as additional information becomes available. The consolidated financial statements include the
operating results of the acquired businesses since the respective dates of the acquisitions. Pro forma results of operations have not been presented
because the effect of the acquisitions was not material to our financial results.
Refer to our 2011 acquisition activity below for current year activity regarding the RueLaLa and ShopRunner equity investments.
2012 Acquisition and Divestiture Activity
During 2012, we completed three acquisitions, two of which are included in our Marketplaces segment and one in our Payments segment,
for aggregate purchase consideration of approximately $149 million , consisting primarily of cash. The allocation of the purchase consideration
resulted in net liabilities of approximately $21 million , purchased intangible assets of $70 million and goodwill of $100 million . The
consolidated financial statements include the operating results of the acquired businesses since the respective dates of the acquisitions. Pro forma
results of operations have not been presented because the effect of the acquisitions was not material to our financial results.
In May 2012, we completed the sale of Rent.com for proceeds of approximately $145 million , resulting in a gain of approximately $118
million . The results of operations from Rent.com are not material to any period presented.
2011 Acquisition and Divestiture Activity
During 2011, we completed thirteen acquisitions, including the acquisitions of GSI, brands4friends, GittiGidiyor and Zong. Allocation of
the purchase consideration for the business combinations completed in 2011 is summarized as follows:
The purchase consideration for each acquisition was allocated to the tangible assets and identifiable intangible assets acquired and
liabilities assumed based on their estimated fair values on the acquisition date, with the remaining unallocated purchase consideration recorded
as goodwill. The fair value assigned to identifiable intangible assets acquired was determined primarily by using valuation methods that discount
expected future cash flows to present value using estimates and assumptions determined by management. Purchased identifiable intangible assets
are amortized on a straight-line basis over the respective useful lives. We generally do not expect goodwill to be deductible for income tax
purposes.
F-15
Purchase
Consideration
Net Tangible
Assets Acquired/
(Liabilities
Assumed) Purchased
Intangible Assets
Goodwill
(In millions)
GSI
$
2,377
$
128
$
819
$
1,430
brands4friends
193
(33
)
76
150
GittiGidiyor
235
(9
)
53
191
Zong
232
(36
)
77
191
Other
402
(34
)
164
272
Total
$
3,439
$
16
$
1,189
$
2,234