LOCM » Topics » Goodwill and other intangible assets

These excerpts taken from the LOCM 10-K filed Mar 30, 2009.
Goodwill and other intangible assets
 
Goodwill representing the excess of the purchase price over the fair value of the net tangible and intangible assets arising from acquisitions and purchased domain name are recorded at cost. Intangible assets, such as goodwill and domain name, which are determined to have an indefinite life, are not amortized in accordance with SFAS No. 142, Goodwill and Other Intangible Assets. The Company performs annual impairment reviews during the fourth fiscal quarter of each year, or earlier if indicators of potential impairment exist. For goodwill, the Company engages an independent appraiser to assist management in the determination of the fair value of its reporting unit and compares the resulting fair value to the carrying value of the reporting unit to determine if there is goodwill impairment. For other intangible assets with indefinite lives, the Company compares future undiscounted cash flow forecasts prepared by management to the carrying value of the related intangible asset group to determine if there is impairment. The Company performed its annual impairment analysis as of December 31, 2008 and


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LOCAL.COM CORPORATION
 
Notes to Consolidated Financial Statements — (Continued)
 
determined that no impairment existed. Future impairment reviews may result in charges against earnings to write-down the value of intangible assets.
 
Goodwill
and other intangible assets



 



Goodwill representing the excess of the purchase price over the
fair value of the net tangible and intangible assets arising
from acquisitions and purchased domain name are recorded at
cost. Intangible assets, such as goodwill and domain name, which
are determined to have an indefinite life, are not amortized in
accordance with SFAS No. 142, Goodwill and Other
Intangible Assets
. The Company performs annual impairment
reviews during the fourth fiscal quarter of each year, or
earlier if indicators of potential impairment exist. For
goodwill, the Company engages an independent appraiser to assist
management in the determination of the fair value of its
reporting unit and compares the resulting fair value to the
carrying value of the reporting unit to determine if there is
goodwill impairment. For other intangible assets with indefinite
lives, the Company compares future undiscounted cash flow
forecasts prepared by management to the carrying value of the
related intangible asset group to determine if there is
impairment. The Company performed its annual impairment analysis
as of December 31, 2008 and





F-9





Table of Contents





 




LOCAL.COM
CORPORATION




 




Notes to
Consolidated Financial
Statements — (Continued)


 



determined that no impairment existed. Future impairment reviews
may result in charges against earnings to write-down the value
of intangible assets.


 




These excerpts taken from the LOCM 10-K filed Mar 10, 2008.
Goodwill and other intangible assets
 
Goodwill representing the excess of the purchase price over the fair value of the net tangible and intangible assets arising from acquisitions and purchased domain name are recorded at cost. Intangible assets, such as goodwill and domain name, which are determined to have an indefinite life, are not amortized in accordance with SFAS No. 142, Goodwill and Other Intangible Assets. The Company performs annual impairment reviews during the fourth fiscal quarter of each year, or earlier if indicators of potential impairment exist. For goodwill, the Company engages an independent appraiser to assist management in the determination of the fair value of its reporting unit and compares the resulting fair value to the carrying value of the reporting unit to determine if there is goodwill impairment. For other intangible assets with indefinite lives, the Company compares future undiscounted


F-9


Table of Contents

 
LOCAL.COM CORPORATION
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
 
cash flow forecasts prepared by management to the carrying value of the related intangible asset group to determine if there is impairment. The Company performed its annual impairment analysis as of December 31, 2007 and determined that no impairment existed. Future impairment reviews may result in charges against earnings to write-down the value of intangible assets.
 
Goodwill
and other intangible assets



 



Goodwill representing the excess of the purchase price over the
fair value of the net tangible and intangible assets arising
from acquisitions and purchased domain name are recorded at
cost. Intangible assets, such as goodwill and domain name, which
are determined to have an indefinite life, are not amortized in
accordance with SFAS No. 142, Goodwill and Other
Intangible Assets
. The Company performs annual impairment
reviews during the fourth fiscal quarter of each year, or
earlier if indicators of potential impairment exist. For
goodwill, the Company engages an independent appraiser to assist
management in the determination of the fair value of its
reporting unit and compares the resulting fair value to the
carrying value of the reporting unit to determine if there is
goodwill impairment. For other intangible assets with indefinite
lives, the Company compares future undiscounted





F-9





Table of Contents





 




LOCAL.COM
CORPORATION




 




NOTES TO
CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)


 



cash flow forecasts prepared by management to the carrying value
of the related intangible asset group to determine if there is
impairment. The Company performed its annual impairment analysis
as of December 31, 2007 and determined that no impairment
existed. Future impairment reviews may result in charges against
earnings to write-down the value of intangible assets.


 




This excerpt taken from the LOCM 10-K filed Mar 16, 2007.
Goodwill and other intangible assets
 
Goodwill representing the excess of the purchase price over the fair value of the net tangible and intangible assets arising from acquisitions and purchased domain name are recorded at cost. Intangible assets, such as goodwill and domain name, which are determined to have an indefinite life, are not amortized in accordance with SFAS No. 142, Goodwill and Other Intangible Assets.  The Company performs annual impairment reviews during the fourth fiscal quarter of each year, or earlier if indicators of potential impairment exist. For goodwill, the Company engages an independent appraiser to assist management in the determination of the fair value of its reporting unit and compares the resulting fair value to the carrying value of the reporting unit to determine if there is goodwill impairment. For other intangible assets with indefinite lives, the Company compares future undiscounted cash flow forecasts prepared by management to the carrying value of the related intangible asset group to determine if there is impairment. The Company performed its annual impairment analysis as of December 31, 2006 and determined that no impairment existed. Future impairment reviews may result in charges against earnings to write-down the value of intangible assets.
 
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