Financial Reporting Projects

  We assisted with the following projects:

• Purchase price allocation work for six acquisitions for reporting related to ASC 805. Purchase prices ranged from approximately $50 million to over $280 million, and our analyses involved the valuation of acquired intangible assets, including developed technology, trade names, customer relationships, and certain other relationships. For certain of the acquisitions, our analysis also included valuation calculations related to replacement and prior target stock options considering a binomial lattice model.
• Analysis of complex equity awards, including Total Shareholder Return equity awards, using a Monte Carlo simulation framework.
• Analysis of fair values associated with over ten reporting units as part of goodwill impairment testing.
• Valuation of an earn-out associated with a division divestiture for tax reporting purposes.

Projects reviewed by KPMG

 We assisted with the following projects:

• Purchase price allocation work for three acquisitions for reporting related to IFRS 3. Purchase prices ranged from $90 million to over $2 billion, and our analyses involved the valuation of intangible assets, inventory, and contingent consideration.
• Impairment testing related to over 20 previously acquired products.
• Goodwill impairment testing related to three cash generating units (one based in the U.S. and two based in Europe) for reporting related to IAS 36.

Projects reviewed by Deloitte

 We assisted with the following projects:

• Analysis of price-based incentive grants considering a Monte Carlo simulation framework.
• Valuation of common stock in conjunction with ASC 718 / Section 409A reporting.
• Embedded derivative fair value analyses related to convertible debt at multiple valuation dates.

Projects reviewed by Moss Adams

We assisted with the following projects:

• Purchase price allocation for a multi-billion-dollar acquisition for reporting associated with ASC 805. Our analysis included the valuation of intangible assets, fixed assets, real estate, inventory, and deferred revenue for over twenty separate acquired subsidiaries.
• Impairment testing associated with goodwill and long-lived assets for a major reporting unit as part of reporting for ASC 350 and ASC 360. This project involved the analysis of intangible and fixed assets as part of prior Step Two goodwill impairment procedures – and included the valuation of developed technology, customer relationships, and a trade name.
• As part of the divestiture of certain operations, valuation of various businesses to assist with the allocation of goodwill at various dates.

Projects reviewed by Ernst & Young

We valued intangible assets and equipment as part of fresh start accounting related to a post-bankruptcy reorganization of the company. The valuation considered two reporting units and involved the following for each reporting unit: (i) enterprise value determination; (ii) valuation of intangible assets (contracts and customer relationships, trade names, an unfavorable contract, and off-market leases); and (iii) valuation of equipment (teleports, telecommunications equipment, and other fixed assets).

Project reviewed by PricewaterhouseCoopers

We assisted with the following projects: 

• Valuation of stock options utilizing Monte Carlo simulation analysis.
• Valuation analyses of stock options for SEC Pay versus Performance disclosure rules.
• Goodwill impairment analysis related to one reporting unit.

Projects reviewed by Ernst & Young

We valued time-based and performance-based profit interests in the fund for financial reporting.

Project reviewed by Moss Adams

We valued performance-based stock options considering a Monte Carlo simulation framework.

Project reviewed by Withum

We assisted the client with valuations related to a step transaction involving the purchase of a franchisee. Our analysis involved the following:

• Calculations related to two subject interests transferred to the client as part of the transaction (a minority interest and controlling interest), the non-controlling interest not held by the client, and the client's previously held interest.
• Pursuant to purchase price allocation guidelines in ASC 805, we valued identified intangible assets (reacquired franchise rights).

Project reviewed by KPMG

We assisted with the valuation of an earnout/contingent consideration and intangible assets associated with the acquisition of a mobile game developer. Our analysis associated with the earnout considered a Monte Carlo framework, and intangible assets valued included developed technology, in-process research and development, a user base, a non-compete agreement, and a trade name. 

Project reviewed by PricewaterhouseCoopers 

We performed a fair value analysis associated with a potential litigation claim.

Project reviewed by Moss Adams

We assisted with the valuation of intangible assets related to three acquisitions for reporting related to ASC 805 (Private Company Council option). The acquired companies were involved in providing research and analysis associated with specialized financial and legal data. Assets valued included trade names/brands and content-related intellectual property.

Project reviewed by BDO

 As part of an acquisition, we valued income-generating images and archival imagery for financial reporting purposes.

Project reviewed by Deloitte

We assisted with the following projects:

• Valuation of common stock in conjunction with ASC 718 / Section 409A reporting (at various valuation dates prior to the company's IPO).
• Valuation of warrants with anti-dilution triggers and debt with change-in-control provisions.

Projects reviewed by PricewaterhouseCoopers

We provided an analysis of the fair value of certain components associated with a transaction – including senior secured notes and aspects associated with backstopped equity rights. Subsequent analyses involved quarterly fair value calculations associated with the senior secured notes.

Project related to the initial transaction was reviewed by KPMG