| Goodwill |
9. Goodwill
Changes in the carrying amount of goodwill by segment for the years ended December 31, 2012, 2013 and 2014 are as follows:
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Real Estate
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Real Estate
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Real Estate
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Information
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Online
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Brokerage
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and Consulting
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Services
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Services
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Services
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Total
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$
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$
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$
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$
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Balance as of January 1, 2012
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40,152,022
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3,509,326
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5,667,004
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49,328,352
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Exchange rate translation
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63,965
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8,422
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—
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72,387
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Balance as of December 31, 2012
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40,215,987
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3,517,748
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5,667,004
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49,400,739
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Goodwill recognized upon acquisition
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—
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—
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1,698,098
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1,698,098
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Exchange rate translation
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394,633
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106,569
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—
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501,202
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Balance as of December 31, 2013
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40,610,620
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3,624,317
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7,365,102
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51,600,039
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Exchange rate translation
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(47,545
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(12,840
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—
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(60,385
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Balance as of December 31, 2014
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40,563,075
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3,611,477
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7,365,102
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51,539,654
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As of December 31, 2012
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Goodwill, gross
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458,038,291
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3,517,748
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5,667,004
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467,223,043
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Accumulated impairment charge
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(417,822,304
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—
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—
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(417,822,304
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Goodwill, net
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40,215,987
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3,517,748
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5,667,004
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49,400,739
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As of December 31, 2013
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Goodwill, gross
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458,432,924
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3,624,317
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7,365,102
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469,422,343
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Accumulated impairment charge
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(417,822,304
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—
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—
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(417,822,304
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Goodwill, net
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40,610,620
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3,624,317
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7,365,102
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51,600,039
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As of December 31, 2014
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Goodwill, gross
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458,385,379
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3,611,477
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7,365,102
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469,361,958
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Accumulated impairment charge
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(417,822,304
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)
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—
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—
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(417,822,304
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)
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Goodwill, net
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40,563,075
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3,611,477
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7,365,102
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51,539,654
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The Group utilized the income approach valuation method (Level 3) to compute the fair value of its reporting units. The key assumptions used in the income approach, which requires significant management judgment, include business assumptions, terminal value, and discount rate. Significant increases in discount rate or decrease in terminal value in isolation would result in a significantly lower fair value measurement.
Based on the impairment tests performed, the Group did not record a goodwill impairment charge for the years ended December 31, 2012, 2013 and 2014.
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