Financial Reporting

Publicly traded provider of technology-based solutions for government and commercial customers – including communication products and systems, intelligence solutions, and managed services

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 Step Two goodwill impairment procedures – and included the valuation of developed technology, customer relationships, and a trade name.
  • Valuation of over 30 interests in a variety of domestic and international subsidiaries – including operating entities, companies which own intellectual property, and sales-focused entities – for tax planning and reporting associated with corporate restructuring.
  • As part of the divestiture of certain operations, valuation of various businesses to assist with the allocation of goodwill at various dates.

Financial reporting projects reviewed by Ernst & Young

Software-as-a-service company which had a Q4 2016 IPO

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 planned IPO).
  • Valuation of warrants with anti-dilution triggers and debt with change-in-control provisions.

Reviewed by PricewaterhouseCoopers

National operator of membership-based primary care practices

We assisted with the valuation of intangible assets related to the acquisition of a company which developed a health-related, mobile app. Assets valued included developed technology, customer relationships, non-competition agreements, and a trade name.

Reviewed by PricewaterhouseCoopers

Publicly traded data analytics and software-as-a-service company

We assisted with the following projects:
  • Analysis of complex equity awards requiring sophisticated valuation techniques, including Total Shareholder Return equity awards using Monte Carlo simulations.
  • Analysis of values associated with over ten reporting units as part of goodwill impairment testing.
  • Valuation of an earn-out associated with a pending division divestiture for tax reporting purposes.

Reviewed by KPMG

Private equity-owned marketing services firm

We assisted with the following projects:
  • Purchase price allocation work for two acquisitions for reporting related to ASC 805. Our analysis included the valuation of backlog, customer relationships, and trade names, as well as calculations related to contingent consideration for one acquisition utilizing a Monte Carlo simulation model.
  • Goodwill impairment testing for one reporting unit for compliance with ASC 350.
  • Impairment testing related to indefinite-lived trade names.
  • Valuation of equity units for compliance with ASC 718.

Reviewed by KPMG

Private equity firm specializing in investments in middle market companies

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.

Reviewed by BDO USA, LLP

Provider of retirement plans, consulting services, and trust services

We assisted with the valuation of intangible assets (including customer relationships and trade names) for several acquisitions as part of reporting for ASC 805. Purchase prices for the acquisitions ranged from approximately $25 million to over $90 million.

Reviewed by Burr Pilger Mayer

Publicly traded provider of staffing and consulting services

We assisted with the valuation of intangible assets associated with the acquisition of a business intelligence consulting firm. Assets valued included customer relationships, non-compete agreements, and a trade name.

Reviewed by PricewaterhouseCoopers

Privately held mobile gaming company with studios in several cities

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.

Reviewed by PricewaterhouseCoopers

Privately held portfolio of wineries generating over $100 million in revenue

We assisted with the following projects:
  • Valuation modeling to assist management with evaluating the impact of a potential acquisition.
  • Valuation of the company’s common stock for reporting associated with Section 409A / ASC 718.
  • Goodwill impairment testing calculations.

Goodwill impairment calculations reviewed by Moss Adams

Developer of customer service software solutions for public agencies

Valuation of the company’s common stock for reporting associated with Section 409A.

Private equity-owned pharmaceuticals company

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.

Reviewed by Deloitte & Touche

Publicly traded portfolio of wineries

We assisted with the valuation of intangible assets related to the acquisitions of two closely-held wineries, including brands, distributor relationships, and customer (consumer) relationships. For one acquisition, we also assisted management with issues associated with the valuation of inventory (both bottled and bulk wine).

Reviewed by Moss Adams

Publicly traded intellectual property licensing company

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.

Work related to initial transaction reviewed by KPMG

Producer and distributor of tea products

We assisted with the following projects:

  • Valuation of intangible assets associated with the company’s acquisition by a private equity firm. Assets valued included the company’s brand, channel and customer relationships, and proprietary tea recipes/blends.
  • Consulting and valuation associated with an executive’s equity grants.

Developer of cancer treatment systems

We assisted with the following projects:
  • Valuation of certain assets (including technology, customer relationships, and a trade name) as part of fresh start accounting related to a post-bankruptcy reorganization of the company.
  • Valuation of the company’s common stock for reporting associated with Section 409A / ASC 718.

Reviewed by Singer Lewak

Publicly traded provider of digital promotions

We assisted with the valuation of stock options utilizing Monte Carlo simulation analysis.

Reviewed by Ernst & Young

Acute care hospital

We assisted with the following projects:
  • Analysis of goodwill for one reporting unit utilizing a qualitative assessment framework.
  • Valuation of intangible assets related to the acquisition of an imaging center.

Reviewed by Moss Adams

Publicly traded developer of networking platforms

We assisted with goodwill impairment testing related to two reporting units.

Reviewed by KPMG

Publicly traded designer, manufacturer, and distributor of agricultural and infrastructure maintenance equipment

We assisted with the following projects:
  • Purchase price allocation work for an acquisition for reporting related to ASC 805. Our analysis included the valuation of the business enterprises and certain assets for four separate acquired divisions.  Assets valued included inventory, fixed assets, customer relationships, trade names / trademarks, and patents / technology.
  • Consulting to assist management with assessing goodwill impairment for over 20 reporting units.

Reviewed by KPMG

Provider of transportation services

We assisted with a valuation of the company's common stock for Section 409A / ASC 718 reporting.

Publicly traded provider of network security solutions

We assisted with purchase price allocation work for an acquisition for reporting related to ASC 805. Our analysis included calculations related to an earn-out, developed technology, in-process research and development, customer relationships, and deferred revenue.

Reviewed by Deloitte & Touche

Private equity firm

As part of an acquisition, we valued the operations of an events and marketing business for financial reporting purposes. Our analysis included the valuation of the business enterprises associated with two subsidiaries, as well as the related intangible assets (including customer relationships and trade names).

Reviewed by Grant Thornton

Investment firm specializing in managing funds of funds

We assisted with the following:
  • Goodwill impairment testing for one reporting unit for compliance with ASC 350.
  • Valuation of common and preferred stock and several intangible assets associated with an acquisition.

Goodwill impairment project reviewed by PricewaterhouseCoopers

Provider of shipping and fulfillment solutions for wineries

We assisted with the valuation of trade names and brands related to three acquisitions for reporting related to ASC 805 (Private Company Council option).

Reviewed by Moss Adams

Private equity-owned digital media provider

As part of an acquisition, we valued archival imagery for financial reporting purposes.

Reviewed by Deloitte & Touche

Company involved in exhibit fabrication, event production, trade show programs, and design services

Provided several valuation analyses for financial reporting purposes which included the analysis of two companies' operations as part of merger-related accounting, as well as the valuation of certain acquired intangible assets for one of the companies (including customer relationships and trade names).

Reviewed by Moss Adams

Privately held company with over $1 billion in revenue focused on developing infrastructure management solutions for datacenter, enterprise, and industrial environments

We assisted with the valuation of intangible assets. Assets valued included developed technology, customer relationships, and a trade name.

Reviewed by Grant Thornton

Publicly traded provider of e-mail and cross-channel marketing solutions

We provided several valuations for financial reporting associated with the acquisition of operations in Europe. Our analysis included calculations related to the fair value of contingent purchase price payments, an overall business enterprise valuation, and the valuation of acquired intangible assets (which included reacquired rights and customer relationships).

Reviewed by Deloitte & Touche

Provider of mobile application analytics and related services

We assisted with the following:
  • Purchase price allocation work for an acquisition for reporting related to ASC 805.Our work included calculations related to the purchase price (involving preferred stock associated with the closely-held acquiring company) and intangible assets.
  • Valuation of warrants.

Reviewed by PricewaterhouseCoopers

Online service provider

We assisted with a purchase price allocation related to a transaction. Our work included valuation calculations related to an earn-out, technology, and customers.

Reviewed by Deloitte & Touche

Developer of cloud computing and systems software

We assisted with a purchase price allocation for an acquisition. Our work included valuation calculations related to an earn-out and acquired technology.

Reviewed by Deloitte & Touche

Publicly traded life sciences company

We assisted with long-lived asset impairment testing (with fixed assets as the primary asset) for compliance with ASC 360.

Reviewed by PricewaterhouseCoopers

Entertainment company

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).

Reviewed by KPMG

Privately held company which provides webcasting, online media streaming, and Internet-based public communication management solutions

We assisted with a purchase price allocation for an acquisition. Assets valued included deferred revenue, developed technology, backlog, and customer relationships.

Reviewed by BDO USA, LLP

Publicly traded telecommunications service provider

We assisted with the valuation of intangible assets (subscribers and wireless licenses) and fixed assets associated with a joint venture.

Reviewed by PricewaterhouseCoopers

National specialty coffee roaster and marketer of fresh-roasted coffee and tea

We valued intangible assets related to the contemplated acquisition of a company which specializes in the sourcing, roasting, and selling of specialty coffees. Assets valued included certain major agreements, customer relationships, and trade names.

Reviewed by Deloitte & Touche

Publicly traded communications equipment company

We assisted with the following projects:
  • Purchase price allocation work for three acquisitions for reporting related to ASC 805. For two acquisitions, we also developed intangible and fixed asset values for each of the target's major international entities for tax reporting purposes.
  • Consulting related to the values associated with certain intellectual property contributed to a joint venture.
  • A valuation analysis for tax reporting purposes in conjunction with the transfer of assets among certain legal entities.

Financial reporting projects reviewed by Ernst & Young

Private investment firm

We assisted with purchase price allocations for multiple targets involved in entertainment and design/licensing, including a major designer of clothing, t-shirts, and other products. Assets valued included trademarks and trade names and license agreements.

Reviewed by PricewaterhouseCoopers

Large, privately-held software company

We assisted with the valuation of an embedded derivative related to corporate debentures issued by the company.

Reviewed by Deloitte & Touche

Distributor of champagne, sparkling wine, and special spirits products

We assisted with impairment calculations related to the company’s goodwill and trade name.

Manufacturer and marketer of gourmet foods

We valued intangible assets related to the acquisition of a manufacturer of gourmet sauces and spreads. Assets valued included the target company’s trade name and trademark, distributor relationships, a key contract, recipes and processes, and non-competition agreements.