INTANGIBLE ASSETS AND GOODWILL

6 Months Ended

Jun. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

The Company's intangible assets at June 30, 2016 and December 31, 2015 consisted of the following (in thousands):



	June 30, 2016							December 31, 2015
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Amortization Period	Weighted Average Useful Life
Supply and distribution agreements	$	822,590	$	(254,189	)	$	568,401	$	824,932	$	(227,994	)	$	596,938	10 - 20 years	16 years

Technology	113,045		(71,616		)	41,429		112,639		(61,404		)	51,235		1 - 5 years	5 years

Patents	1,623		(1,580		)	43		1,623		(1,562		)	61		15 years	15 years

Internet domain names	41,680		(23,946		)	17,734		40,352		(20,954		)	19,398		2 - 20 years	8 years

Trade names	1,669,712		(222,391		)	1,447,321		1,671,356		(183,101		)	1,488,255		4 - 20 years	20 years

Non-compete agreements	21,900		(14,708		)	7,192		22,847		(11,201		)	11,646		3 - 4 years	3 years

Other	—		—			—		135		(135		)	—
Total intangible assets	$	2,670,550	$	(588,430	)	$	2,082,120	$	2,673,884	$	(506,351	)	$	2,167,533

Intangible assets with determinable lives are amortized on a straight-line basis. Intangible asset amortization expense was approximately $43.0 million and $85.4 million for the three and six months ended June 30, 2016, respectively, and $42.7 million and $86.0 million for the three and six months ended June 30, 2015, respectively.

The amortization expense for intangible assets for the remainder of 2016, the annual expense for the next five years, and the expense thereafter is expected to be as follows (in thousands):



2016	$	83,923
2017	160,767
2018	142,185
2019	131,884
2020	124,684
2021	119,659
Thereafter	1,319,018
	$	2,082,120

The change in goodwill for the six months ended June 30, 2016 consists of the following (in thousands):



Balance at December 31, 2015	$	3,375,000
Currency translation adjustments	(14,415		)
Balance at June 30, 2016	$	3,360,585

A substantial portion of the intangibles and goodwill relates to the acquisitions of OpenTable in July 2014 and KAYAK in May 2013.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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