Subsequent Events

12 Months Ended

Dec. 31, 2018

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On January 29, 2019, the Company became aware that a key customer of the SaaS for vacation rentals reporting unit provided the unit’s management team with a letter purporting to terminate the customer’s contract. The unit’s management team asserts, and the Company currently believes, that the purported termination notice is not valid. The unit’s management team is exploring its contractual and other legal rights, remedies and options related to the customer’s purported termination of the contract. Because the customer is contemplated in the SaaS for vacation rentals reporting unit's projected revenues, the Company has determined that the unit’s receipt of the purported termination notice, even though the validity of the notice is being actively contested by the unit, represents a triggering event which will require the reevaluation of the reporting unit's long-lived asset group and goodwill in the first quarter of 2019. Dependent on further development of the situation involving the status of the customer contract, relationship between the customer and the unit, and other relevant factors, the impairment assessment may result in an impairment of goodwill and of certain long-lived intangible assets; however, the Company cannot estimate the amount or a reasonable range of amounts of such impairments, if any, at this time. As of December 31, 2018, the carrying value of the reporting unit's goodwill was $9.8 million after recognition of a $4.3 million impairment in the fourth quarter of 2018.

On February 23, 2019, the Company's board of directors declared a quarterly cash dividend of $0.215 per share of common stock. The dividend is payable on April 17, 2019 to shareholders of record on April 2, 2019.