WEIBO Corp - 20-F filing on 2022-03-10

Goodwill, Intangible Assets and Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

Acquisitions, Goodwill and Intangible Assets

Schedule of the changes in the Group's goodwill by segment


		Advertising &			Value-added
		Marketing			services			Total

		(In US$ thousands)
Balance as of December 31, 2018			29,346			—			29,346
Currency translation adjustment			(357)			—			(357)
Balance as of December 31, 2019			28,989			—			28,989
Acquisition of JM Tech			—			30,075			30,075
Currency translation adjustment			1,910			738			2,648
Balance as of December 31, 2020			30,899			30,813			61,712
Acquisition of the company operating Wuta application			51,034			—			51,034
Acquisition of an E-sports team			—			14,745			14,745
Currency translation adjustment			1,813			1,101			2,914
Balance as of December 31, 2021			83,746			46,659			130,405

Table summarizes the Group's intangible assets arising from acquisitions


		As of December 31, 2020									As of December 31, 2021
					Accumulated									Accumulated
		Cost			Amortization			Net			Cost			Amortization			Net

		(In US$ thousands)									(In US$ thousands)
Game related			127,238			(2,199)			125,039			150,371			(16,649)			133,722
Technology			9,544			(4,417)			5,127			10,172			(5,494)			4,678
Trademark and Domain name			12,788			(1,542)			11,246			20,078			(4,458)			15,620
Supplier-relationship			10,253			(4,689)			5,564			10,538			(6,961)			3,577
Others			2,449			(2,449)			—			13,924			(4,591)			9,333
Total			162,272			(15,296)			146,976			205,083			(38,153)			166,930

Schedule of estimated amortization expenses


Year Ended December 31,		(In US$ thousands)
2022			24,662
2023			23,150
2024			21,456
2025			17,620
2026 and thereafter			80,042
Total expected amortization expense			166,930

Acquisitions, Goodwill and Intangible Assets

Schedule of consideration of acquisition was allocated based on their fair value of the assets acquired and the liabilities assumed


		As of October 31, 2020
		(In US$ thousands)
Consideration			218,590
Redeemable non-controlling interest (Note 17)			55,192
Non-controlling interest			16,133
Total			289,915

Short-term investments acquired			155,205
Other assets acquired			26,087
Identifiable intangible assets acquired			124,196
Goodwill			30,075
Liabilities assumed			(45,648)
Total			289,915

A mobile app company

Acquisitions, Goodwill and Intangible Assets

Schedule of consideration of acquisition was allocated based on their fair value of the assets acquired and the liabilities assumed


		As of May 1, 2021
		(In US$ thousands)
Consideration			39,540
Fair value of previously held equity interest			26,875
Non-controlling interest			10,811
Total			77,226

Cash and short-term investments acquired			5,786
Other assets acquired			6,801
Identifiable intangible assets acquired			16,495
Goodwill			51,034
Liabilities assumed			(2,890)
Total			77,226

An E-sports team

Acquisitions, Goodwill and Intangible Assets

Schedule of consideration of acquisition was allocated based on their fair value of the assets acquired and the liabilities assumed


		As of August 1, 2021
		(In US$ thousands)
Consideration			30,953

Identifiable intangible assets acquired			19,274
Goodwill			14,745
Liabilities assumed			(3,066)
Total			30,953