NOTE 6 | Goodwill |
In 2013, the Company allocated $1.0 billion to goodwill due to the acquisition of NetSpend. During 2012, the Company allocated $162.1 million to goodwill due to the acquisitions of ProPay and CPAY.
The gross amount and accumulated impairment losses of goodwill as of December 31, 2013 and 2012 is as follows:
2013 | ||||||||||||||||||||
(in thousands) | North America Services |
International Services |
Merchant Services |
NetSpend | Consolidated | |||||||||||||||
Gross amount |
$ | 70,796 | 34,201 | 415,973 | 1,024,434 | $ | 1,545,404 | |||||||||||||
Accumulated impairment losses |
— | — | (2,225 | ) | — | (2,225 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Goodwill, net |
$ | 70,796 | 34,201 | 413,748 | 1,024,434 | $ | 1,543,179 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
2012 | ||||||||||||||||||||
(in thousands) | North America Services |
International Services |
Merchant Services |
NetSpend | Consolidated | |||||||||||||||
Gross amount |
$ | 70,796 | 33,944 | 415,829 | — | $ | 520,569 | |||||||||||||
Accumulated impairment losses |
— | — | (2,225 | ) | — | (2,225 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Goodwill, net |
$ | 70,796 | 33,944 | 413,604 | — | $ | 518,344 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
The changes in the carrying amount of goodwill as of December 31, 2013 and 2012 are as follows:
(in thousands) | North America Services |
International Services |
Merchant Services |
NetSpend | Consolidated | |||||||||||||||
Balance as of December 31, 2011 |
$ | 70,796 | 33,188 | 251,514 | — | $ | 355,498 | |||||||||||||
CPAY purchase price allocation |
— | — | 68,570 | — | 68,570 | |||||||||||||||
ProPay purchase price allocation |
— | — | 93,520 | — | 93,520 | |||||||||||||||
Currency translation adjustments |
— | 756 | — | — | 756 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Balance as of December 31, 2012 |
70,796 | 33,944 | 413,604 | — | 518,344 | |||||||||||||||
NetSpend purchase price allocation |
— | — | — | 1,024,434 | 1,024,434 | |||||||||||||||
ProPay purchase price allocation |
— | — | 144 | — | 144 | |||||||||||||||
Currency translation adjustments |
— | 257 | — | — | 257 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Balance as of December 31, 2013 |
$ | 70,796 | 34,201 | 413,748 | 1,024,434 | $ | 1,543,179 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
Refer to Note 23 for more information on acquisitions.