Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v2.4.0.8
Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes In The Carrying Amount Of Goodwill
Changes in the carrying amount of goodwill are as follows:
 
QVC
 
E-commerce
 
TripAdvisor
 
Total
 
amounts in millions
Balance at January 1, 2014
$
5,312

 
560

 
3,460

 
9,332

Foreign currency translation adjustments
12

 
—

 
—

 
12

Acquisitions (1)
—

 
—

 
105

 
105

Impairment and other
—

 
(10
)
 
—

 
(10
)
Balance at June 30, 2014
$
5,324

 
550

 
3,565

 
9,439



(1)
During the six months ended June 30, 2014, TripAdvisor completed three acquisitions for total cash consideration of $152 million, net of cash acquired. The total cash consideration is subject to adjustment based on the finalization of working capital adjustments and amounts retained with payment subject to certain indemnification obligations by the respective sellers. TripAdvisor acquired Vacation Home Rentals, a U.S.-based vacation rental website featuring properties around the world; London-based Tripbod, a travel community that helps connect travelers to local experts to deliver travelers relevant recommendations for trip planning; and Lafourchette, a provider of an online and mobile reservations platform for restaurants in France, Spain and Switzerland. The initial purchase price allocation resulted in the following: $6 million in cash and other net assets, $66 million in amortizable intangible assets, $105 million in goodwill, and $17 million in net deferred tax liabilities. The purchase price allocation of these acquisitions are preliminary and subject to revision as more information becomes available and final valuations are available, but in any case will not be revised beyond 12 months after the acquisition date.
Amortization Expense For The Next Five Fiscal Years
Based on its amortizable intangible assets as of June 30, 2014, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions):
Remainder of 2014
$
379

2015
$
679

2016
$
569

2017
$
391

2018
$
92